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16. When any amount of money to be paid by the Mortgagor to the Mortgagee under the terms hereof shall be in default, or
should the Mortgagor Default in any of the terms, provisions or conditions of this Mortgage, then and in that case the I?lortgagre
shall have the right. without notice to the Mortgagor. to collect and receive from arty tenant or lessee of said mortgaged premises
the rents, issues and profits of the real estate hereby mortgaged and the improvemenu thereon, and to give proper receipts and
acquittances therefor, and after paying all commissions of any rental agent collecting the same. and any reasonable attorney's
fees and other necessary expenses incurred in collecting same, to apply the proceeds of such collections upon any indebtedness,
obligation or liability, of the Mortgagor hereunder. The right granted the 1?iortgagee under this paragraph shall be in addition to,
and shall not limit or restrict any other right or rights granted the 11lortgagee in this l?lortgagr.
l 7. That in the event that this [?lartgage is given to secure a construction loan. failure an the part of the lllortRagor or the
I?iortgagor s contractor, architect, engineers, or subcontractors to comply with the terms of the Construction Loan Agreement
dared Jul 28, 1979 _ which is by reference incorporated herein, shall, at the option of
the Mortgagee, constitute a default hereunder.
18. In the event that the Mortgagor makes payment by check or checks that the !Mortgagor has failed to properly endorse, the
1ltortgagor does hereby appoint the iliortgagee as its attorney-in-fact to supply on behalf of the Mortgagor any and all endorse
meats accessary to negotiate said check or checks and the Mortgagor agrees co hold the 1lforcgagee harmless from any liability
whatsoever for supplying said endorsement. In the event the i+iortgagee shall cash a check for the Iliortgagor and same shall be
returned for insufficient funds or any other reason so that the 1?tortgagee is unable to collect its money, Chen the Mortgagor
hereby auchorixes the Mortgagee to add said sum to the principal balance of this 1lforcgage and said sum shall be secured by said
Promissory Note and Mortgage as though it was an additional advance under the terms and conditions of this 1?fortgaRe.
l9. IT IS MUTUALLY CONVENANTED AND AGREED by and between the parties hereto that upon request of the
,Mortgagor, the bortgagee may hereafter, at it option, at:nycime within ten (lo) yeah from the date hereof and before full pay-
ment of this Mortgage and Note(s) secured hereby. make further advances to the Iltortgagor and any such further advances, with
interest, shall be secured by this Mortgage and shall be evidenced by an additional Noce then unpaid, and the total amount of
indebtedness that maybe secured by this Mortgage may decrease or increase from time to time, but the coal unpaid balance so
secured at any one time shall not exceed the maximum principal sum of i~ NSA ~ ,together with
interest thereon and any and all disbursements made by the 1?tortgagee for the payment of axes, levies, or insurance on4he pro-
. perry covered by the lien of this Mortgage with interest on suer dubursements at the rate specified in the Note referred to in this
Mortgage, and for reasonable attorney's fees and court costs incurred in the collection of any or all of such sutras of money.
tN WITNESS Q/HEREOF, the said Mortgagor has executed this mortgage under seal on the day and year herein
first'above written. _
Signed, sealed and livered in the presence of:
George Harris,. Jr. .
C_L~ / t ,~t~fip ~ia~ ,~C'~ ,
1980 JAN 16 P~'; 2 37
• 4~~ F~~0 AND RECDRDf11D
3RoGE~
POITRASA•
STATE OF Florida CLERKttRCU1TC0
COUNTY OF Martin u' !E~ ~'ERiF1EC~_
Before mepetsonallyappeared GEORGE W. HARRIS, JR. s a Sing1~ man
t
to-,me' well- known and known to me to be the individual described in and who executed the foregoing instrument,
-also ackttgw{gdged before me chat _he_ executed the same f the purposes therein expressed.
~ - WITNESS my hand and official seal this ~ day of January - 19 80
.y - Notary Public in and for
- • - the County and Stace•Afaresatd-- - -
` _ TsJTAlCY t~Ua1.tC STATE 4f RC)RIDA AT [~1aG$
STATE OFy ~ My commission expires_~. ;.YxRrut55r+J?t s~tRS ape r,, t483
CO Y OF :
• ,~c~3
Before m rsonally appeared _
and , to me well known and
t
F
knox•n to me to be the President and Secretary
rt•spcctivcly of , the corporation
named in the foregoing instrument, and k •n to me to he the persons a•ho as such officers of said corporation, ex<cuted
the same; and then and there the said
and the said
_ did acknoa•Irdge before mr that said
instrument is the free act and deed of S:+id corporativn by t respectively executed as such oR:icers hx the purpn:e
tl;rrein expressed; that the seal thereunto attached is the corporate 1 by them in like capacity affixed: all under authoriq-
in them duly vested 6y the Board of Directors of said corporation.
WIT~GSS my hand and official seal this da~• of . 19
lotarv Public in and for
the County asd Stair Af~rrs-TI
THIS INSTRUMENT PREPARED BT illy rnmmis>iun expires:
JUDITH B. ROWELL. ASST. V.P.
1'IIFI,IF:A TITLI: A Gl-ARA~'1'1• ('O,
P. O. BOIL 1132• STUART, FL 33494 ?IaTt
AS A NECESSARY INCIDENT TO THE
/ ULFI~LMENT OF CONDITIONS CON- (i~~ A/ ;
w ".DANCE V ~A~/ _
Q~it~• •