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HomeMy WebLinkAbout2419 _ • t • 16. Wltisa any amotrttt of taouq to be paid by the >wlos<gagor to tl+e Mortgagee under the tams hereof shall be in default, or s~uld the Yo~agor debulc W say of tM tertas, ptovlsiosts a .coadltbns cf this Matpge, t~tea anti is tbu use the Mortgagee shall have the:ight. without notice fo the Mortgagor, to collect anti reulve from aqy tenant or lessee o[ said mortgaged premises tits rena, issues anti proofs of the real esaa hsreby asor~ed std the itaprovema?a thereon, and to Give proper receipa sod aoQuittaaces thsrefor. sod afar paying all moons of arty renal anent eollectirtg the same. attd soy rasoaabk attorney's lees sad otbsx neoaasry •Ypeasss incurred is colkctins same, to sppy the proceeds of such eolkctioas upon any ietdebtedness. obllgatba u bsbillty, of the Mortgagor baetmder. The right gawted the Mortgagee undo this psraprsph:hall be is addition to. anti shaD clot liatit or testriet say other. right os righa glinted tilt Mortgagee is the Mortgage. iii. 'That in the event that this liorfpt je is overt to secure a constrtsctbn loan. failure oa the part of the Mortgagor or the Mortgagor's tractor. architect, eagiaters, or subcontractors to ootngRy veldt the teretts of the Construction Loan Agreement whkh is by reference incorporated herein, shall, at the optbn of the Mo coosdtute a defauh hereunder. - 1A. Ia the event that dteHortgagor trtaka paymentby check or checks that the Mortgagor bas failed to properly endorse. the Mortgagor does hereby tt~atat the Yos<pgee a to attorney-i~fact to supply on behalf of the Mortgagor any sad all endorse- mena aecaary to aegoslate sad check or checks std dte Mortgagor agrees to hold the Mortgagee harntlea from any liability whatsoever for supplylog slid eadorsaaeat. Ia the evatt the Mortgagee shall ush a check for the Mortgagor sad same shall be returned for iasuEBdent_fuads or say other reason so that the Yortpgee b unable to collect is taottey. then the Mortgagor hereby authorises the Mortgagee to add said sum m the principal balance of this Mortgage sad aid sum:hsll be secured by said Protaiaoq Note sad Mortgage as .though it eras sn additional advance uada the terms and conditions of this Yortgaga l9. TT IS MLTi1JALI.Y COIitVBNMTTED AND AGRBBD by std between the parties hereto that upon request of the Yorgagot, the Mortgagee may here.fter. ac It opaoa, ac aayd,ne within ten (io) years hom the date hereof atdbefore fidlpay- . meat of this Mortgage sad Note(s) secured bereb~, taske further aefiraaces to the Mortgagor sad any such further advances, wilt interest, shall be secured by this Mortgage and shall be eNdeaced by as additioaai Note then ,unpaid, sad dte total amount of indebtedness that stay be secured by this Mortgage may decrase or increase from dune to time. but the total unpaid balance so scoured at say one time shall sot exceed the ntttximum principal sum of i ~T ,together with interest thereon sad say and ap disbutsemena made by the Mortgagee for the payment of taxes. lcwies. or announce on the pro- perty rnvered by the lies of this Mortgage with interest oa such disbursemena at the me specified in the Noce referred to in this Mortgage, sad for reasottabk attorney's fees sad court Cosa incurred. in the collection of any or all of such sums of money. W WITNESS WHEREOF. the said Mortgagor has executed this mortgage under seal on the day and year herein first above written. Signed. s,,ea~led ja~nd^delivered in rite presence of/: L ~ r 1+fAT. W. WHITE • "'76362 ~J;~~ FEe ~ g ~ ~ ~ s ITA R. WHITB f E AND FfCORDtt4 FLORIDA S R~ER~ c AST STATE OF ClRCIpT~~Q~ - sa. COUNTY OF HARTIN RCCORQ YERIFIE©~_ _ Before me personally appeared Malcolta W. White S Anita R. White (his wife) , kn~ra anti known to me to be the irdividuaL,~described in. and who executed the foregoing instrument, fore me that h executed the same for the purposes therein expressed. I _ y ~ a ~ my hand and official seal this day of w~ . .~~T -=r~• i ~ A.. pt z y ' ~ _ Notary Publi in and for ~ . ;t, £ _ ~ the County and State Afo~rjesa~id~. - ' ~ ~ . ~ ~ . My commission expirssf~ 3 ~ ~ . l„< - - ~ IKAAR1f RJt1liC 5iA7F Of fiARit1M AT U11bC2; tr~~ OF gr atWl1nt55n~r+ FJ~;t!?L 1WR to i4R3 ~t')t1~.~i± :`Si:• (3;44.1. fits !fhF;i?"5r.:>::QS Before me personally appear and , to me well knowm and known to me to be the Pr nt and Secretary respectively of ,the corporation named in the foregoing instrument, and knowm to me to be rsons who ss such officers of said corporation, executed the same, and then and there the said and the said did acknowledge before me that said instrument is the free act and deed of said corporation by them respectively led as such officers for the purport therein expressed; that the seal thereunto attached is the corporate seal by them in li capacity affixed; all under authority in them duly vested by the Board of Directors of said corporation. W[TNESS my hand and official seal this day of , 19- Notary Public in and for the County and State Aforesaid My commission expirex This instrument prepared by: First National Bank do Trust Co. of Stuart P.O. Drawer 2316 ~ ~~24~3