HomeMy WebLinkAbout1677 16. When any amount of money to be paid by the Mortgagor to the Mortpgee under the terms hereof shall be is default, or
should the Mortgagor default is way of the tetme, provisions or conditions of thb Mortgage. then and in chat case the Mortgagee
shall have the right. without nodce to the Mortgagor, to collect and receive from any tenant or lessee of said mortgaged premises
the rents. iaua and profia of the real estate hereby mortgaged tad the improvements thereon. and to give proper receipts and
acquittances therefor, wad aRer paying all commissions of way rental agent coAecting the ame, 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 Mortgagee under this paragaph :}tall be in addition to,
and shall not limit or restrict way other right or rights granted the Morgagee in this Mortgage.
17. That in the event that this Mortgage is given to secure a construction loan. failure oa the part of the Mortgagor or the
Mortgagor's contactor. architect. eaginters, or aub•coatactors to comply wrath the term: of the Construction Loan Agreement
dated N A _ which is by reference incorpoated 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
Mortgagor does hereby appoint the Mortgagee as its attorney-in-f:ct to supply on behalf of the Mortgagor any and all endorse-
ments necessary to negotiate aid check or checks and the Mortgagor agrees to hold the Mortgagee harmless from any liability
whatsoever for supplying aid endorsement. In the event the Mortgagee shall cash a check for the Mortgagor and same shall be
returned for ituufRcient funds or any other reason so that the Mortgagee is unable to collect its money. then the Mortgagor
hereby authorises the Mortgagee to add said sum to the principal balance of this Mortgage and aid sum shall be secured by said
Promissory Note and Mortgage as though it wan an additional advance under the terms and conditions of this Mortgage.
19. IT 1S MUTUALLY CONVENANTED AND AGREED by and between the parties hereto that upon request of the
Mortgagor, the Mortgagee tnay hereafter, at it option, at anytime within ten (IO) years from the date hereof and before full pay-
ment of this Mortgage and Note(s) secured hereby, make further advances ro the Iliortgagor and any such further advances, with
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 tray 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 = _N/A _ _ _ _ . ,together with
interest thereon and any and all disburserrients made by the Mortgagee for the payment of taxes, levies, or insurance on the pro
perry covered by the lien of this Mortgage with interest on such disbursements at the rate specified in the Note referred to in this
Mortgage, and for reasotuble attorney's fees and court costs incurred in the collection of any or all of such sums of money.
THIS IS A BALLOON MORTGAGE AND THE FINAL PAYMENT OR THE BALLOON DUE UPON MATURITY
IS~$45,008.00, TOGETHER WITH ACCRUED INTEREST, IF ANY, AND ALL ADVANCEMENTS MADE
BY THE MORTGAGEE UNDER THE TERMS OF THIS MORTGAGE.
IN WITNESS WHEREOF, the said Mortgagor has executed this mortgage under seal on the day and year herein
first above written. -
ig seal deli erect in the presence of:
L PAUL A. THOMPSON
ITHEARL THOMPSON
4'79'712
19~ iN?R 17 PN ~2~ 08
STATE OF PENNSYLVANIA FE T
A `.~.~?t-E7.~ ss. t
COUNTY OF ` TltAS
Before me personally appeared PAUL A. THOMPSON and ARDITHEARL THOMPSOi~~~~ e.EfF--a'~
to me well known and knor~•n to me to be the individuate described in and who executed the foregoing _ instrument,
j and acknowrledged before me that _Lhe~L executed the same for the purposes therein eed.
~~j
WITNESS my hand and official seal this r day of v`' ` ?v.$!Z-
lt,:.
~ .
ota Public in and for _ _
~ he C unty and State Afore~~:~,, ~ : ~ • -
p commission expires: ~^v Wti`r~~2~~i f2 '~r; •~I: '
STATE OF tit r-.~~r. ~~+A`.:.`,,.,..~-.
ss. -
COUNTY OF
Before me personally appeared
and , to me well known and
t
known to me to be the President and Secretan• -
respectively of ,the corporation
named in the foregoing instrument, and known to me to he the persons who as such officers of said corporation, executed
$ the same; and then and there the said and the said
1
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
5 t
WITNESS my hand and official seal this day of . 19._
Notary Public in and for
the County and State Aforesaid.
111y commission expires:
~ This instrument prepared by:
First National Bank do Trust Co. of Stuart
i
P.O. Drawer,2316 EI)1(N(32~ PA~E~s~s
tit~.~rt. FI„ric.a ;494
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