HomeMy WebLinkAbout0271 16. When any amount of money to be paid by the Mortgagor to the Mortgagee under the terms hereof shall be in default, or f
should the Mortgagor default in aay of the terms. provisiotu or ccinxlitiuas of this Mortgage, then and in that rax thr Mo:tgsgee
e1taU have the right. withodt notice to the Mortgagor, to collect and receive from any tenant or leuee of said mortgaged premises
the rents, issues and profits of the real estate hereby mortgaged and the improvements thereon, and to give proper receipts and j
acquittances therefor, and aRer paying all commissions of any rental agent collecting the same. and any reasonable attorney's
fees and other necesury expenses incurred in collecting acme, to apply the proceeds of such collections upon any indebtedness, s
obligation or liabiliry, of the Mortgagor hereunder. The right grapted the Mortgagee under this paragraph shall be in addition to,
and shall not Umit or restrict any other right or rights granted the Mortgagee in this Mortgage.
17. That in the event that this Mortgage is given to secure a construction loan, fiitur~ on'the part of the Mortgagor or the
Mortgagor s contractor, architect, engineers, or subcontractors to comply with the terms of the Construction Loan Agreement }
dated _ which is by reference incorporated herein, shall, at the option of i
the Mortgaget, constitute a default hereunder. i
18. In the event that the Mortgagor makes payment by check or checks that the Mortgagor has failed to properly endorse, the
Mortgagor does hereby appoint the Mortgagee ss its attorney-irrfact to supply on behalf of the Mortgagor any and alt endorse- !
menu necessary to negotiate said check or checks and the Mortgagor agrees to hold the Mortgagee harmless from any liability _
whatsoever for supplying said endorsement. In the event the Mortgagee shall cash a check for the Mortgagor and same shall be
returned for insufficient funds or any other reason so that the Mortgagee is unable to collect its money, then the Mortgagor t
hereby authorizes the Mortgagee to add said sum to the principal balance of this Mortgage and said sum shall be secured by said
Promissory Note and Mortgage as though it was an additional advance under the terms and conditioru of this Mortgage.
19. IT 1S MUTUALLY CONVENANTED AND AGREED by and between the parties hereto that upon request of the
1liorcgagor, the Mortgagee may hereafter. at it option, at anytimt within ten (10) years from the dace hereof and before full pay-
ment ofthis Mortgagcand Note(s) secured hereby, make further advances to the Mortgagor and any such further advances, with t
interest, shall be secured by this Mortgage and shall be evidenced by an additional Note then unpaid, and the total amount of
indebtedness that may be secured by this Mortgage may decrease or increase from time to time, but the total unpaid balance so ~
secured at any one time shall not exceed the maximum principal sum of _ _ _ ,together with
interest thereon and any and all disbursements made by the Mortgagee for the payment of taxes, levies. or insurance on the pro- s
party covered by the lien of this Mortgage with interest on such disbursements at the rate specified in the Note referred to in this !
1?lortgage, and for reasonable attorney's fees and court costs incurred in the collection of any or all of such sums of money.
IN WITNESS WHEREOF, the said 6iorcgagor has executed this murtxagr under seal an the day and year herein
first above written.
Signed, seated and delivered in the presence of:
v
l
• - Y S TER
ESTHER SENTER
STATE OF Florida
COUNTY OF Martin
Rrfnrr mr MrWm~liy abDCdrra3 T.arrv Senter and Esther Senter (his wife)
S'
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to me well known and known to me to be the individuals described in and who executed the fofa rumegt.
and acknowledged before me thac the_Y executed the same for the purposes therein expressed. f -
WITNESS my hand and official seal this ~ day of
_t ~ 1V
'
4~6900 Notary Public i and for `:f`' s'
the County and State Aforesaid. ~ i
s )
i°EO f E8 22 PN !2~ 55 r~~t•~~[~? lAt'# ~
Afy commission expires: ~ ~ss1~ s~R~ S 19tS
STATE OF
COUNTY OF I~LEO EHQ bLCGnDti0 iii/ ~ it~61'LMitffltA?R1119i
S ROGER
P017RASa~
Before me personally appeared CLERK CIRCUIT COUR
6 t
and RECORD of R{F t ~ _ ~
, to me well known and
known to me to be the President and Secretary
respectively of ,the corporation
named in the foregoing instrument, and known to me to be the persons who as 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 executed as such officers for the purpose • ~
therein expressed; that the seal thereunto attached is the corporate seal by them in like capacity affixed; all under authority -
in them duly vested by the Board of Directors of said corporation
WITNESS my hand and official seal this day of , 1
Notary Public in and for
the County and State Aforesaid.
Illy commission expires:
This instrument prepared by:
First ;`ational Bank do Trust Co. of Stuart
P.O. Drawer 2316 w^~AM
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