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16. When any uaouat of money to be pdd by the Mortgagor to the Mortgagee under the terms hereof shall be iA debult, or
should the Mortgagor default in say of the terms, provWons or condidow of this Mortgage, then and is that case the Mortgagee
shall have the right, without notice to the Mortgagor, to collect sad receive from say tenant or lessee of said mortgaged premises
the reap. issues and pcolia of the real sate hereby mortgaged sad the improvemeaa thereon. and to give proper receipts and
aoquitances therefor. std after prying tU commissions of any renal agent collecting the same. and any reasonable attorney's
fen and other necessaq expeaes incurred iA collecting same. to apply the proceeds of such collections upon any indebtednea,
obligation or liability. of the Mortgagor bereuader.llte right granted the Mo~ttpgee under thb paragraph shag beta addition to,
and shall not Um1t or restrict say other right or .right granted the Mortgagee is this Mortgage.
17. -That is the event that this Mortgage is gives to secure a cocutrucdoa loan, failure on the part of the Mortgagor or the
Mortgagor's con~or, architect. engineers, orsub-contractors to comply with the terms of the Construction Loaa Agreement
dated N A which is by rekreace incorporated herein. shall, at the option of
the Mortgagee, constitute a default hereunder.
18. Ia 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 as is attorney-ia-fact to supply oa behalf of the Mortgagor say and aU eadorse-
mena neceaacy to rtegodate said check or checks and the Mortgagor agrees to hold the Mortgagee barmlea from say liabiliq
wlutsoever for supplying said endorsement. In the event the Mortgagee :ball cash a check for the Mortgagor and same shall be
returned for insufllcieat funds o: any other reason so that the Mortgagee is unable to rnUect is money. rhea the Mortgagor
hereby authorises the Mortgagee to add said:um to the principal bahutce of thin Mortgage sad said sum shall be secured by said
Promissory Note. and Mortgage as though it was an additional advance under the terms sad conditions of this Mortgage.
19. IT IS MUT[JALLY CONVBNANTED AND AGREED by and benveea the parties hereto that upon request of the .
Mortgagor, the Mortgagee may hereafter, at it option, at anytime within tea (10) years from the date hereof sad before full pay
ment of this Mortgage and Note(s) secured hereby, make further advances to the Mortgagor and any such further advances, with
interest, :hall be secured by this Mortgage sad shall be evidenced by an additional Note then unpaid and the coal 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 say one time shall not exceed the maximum principal sum of i N~A ,together with
interest thereon and any and aD disbursements made by the Mortgagee for the payment of taxes. levies. or insurance oa the pro-
petty covered by the lies of this Mortgage with interest oa such disbursements at the rate apecitled in the Note referred to is this
Mortgage, and for reasonable attorney's fees sad court cosy incurred in the collection of any or all of such sums of money. ;
IN WITNESS WHEREOF; the said Mortgagor has executed this mortgage under seal on the day and year herein '
fir ritten.
Signed, sealed d vered in the presence of:
~
i~ `
~~_g~~34
STATE OF L~'~g~~~ A REC`~
COUNTY O ~NI
Victor Florio and Barbara Flory
Before me personally appeared
~~ttf":qee~ :'kgowa a~ known ~ m~- to be the individuals described in and who executed the foregoing instrument,
~ jeelge8.pef8[e me chat _h ~ executed the same for the purposes therein expressed
? 80
~ ~ , ri •~'.a ~ ~~t~q~~s ,ny hand and official seal this - day of . ~9
i~ ~ Noary Public in and for
~n k.~ ~ ~ :
` _ ~ the County and Sate Afor~d
My commission expires:';. ' =yam ~ ~
as. ~rait#iM~g.~11Ne rh ~ >rta ~
CO F
Before me sonally appeared l l
and , to me well known and
known to me to be the President and Secretary
respectively of ,the corporation
named in the foregoing instrument, and know 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 resp ely executed as such officers for the purpose
therein expressed; that the seal thereunto attached is the corporate seal by the ~ 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 . 19
Notary Public in and for r
the County and Sate Aforesaid. '
' My commission expires: ' .
This instrument prepared by:
First National Bank et Trust Co. of Stuart
Sharen R. Welker BO~u~' t~~~
P.O. Drawer 2316