HomeMy WebLinkAbout1985 16. When any amount of motley to be paid by the Mortgagor to the Mortgagee under the terms hereof shall be in default, or
should the Mortgagor defiult in any of the terms. provisions or conditions of thb Mortgage. then and in that case the Mortgagee
sllsll have the right, without notice to the Mortgagor; to collect and receive from any tenant or lessee of said mortgaged premises
the cents. issues and proQts of the real elute hereby mortgaged and the improvrmena thereon. and to give proper rtceipts and
acquittances therefor, and after paying sU commissions of any renal agent collecting the ame. and any reasonable attorney:
fees and other necessary expenses incurred In collecting same. to apply the proceeds of such collection: upon any indebtedness,
obligation or liability, of the Mortgagor hereunder. The right granted the Mortgagee under this paragraph:lul) be to addition to,
and shall not limit or restrict any other right or rights granted the Mortgagee in this Mortgage.
17. 'that in the event that this Mortgage u given to secure a construction Iwn, failure on the part of the Mortgagor or the
Mortgagor's contractor. architect. engineers, orsub-contractors to comply with the terms of the Construction Loan Agreement
dated N/A which is by reference incorporated herein. shall, at the option of `
the Mortgagee. constitute a defiult hereunder.
18. In the event that the Mortgagor makes payment by check or checks that the Mortgagor has failed to properly endorse. the
Mottgagoc does hereby appoint the Mortgagee as Its attorneyin-fact to supply on behalf of the Mortgagor any and all endorse-
ments 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
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 conditions of this Mortgage.
19. IT IS MUTUALLY CONVENANTED AND AGREED by and between the parties hereto that upon request of the
Mortgagor, the Mortgagee may hereafter, at it option, at anytime within ten (10) years from the date hereof and before ful! pay-
ment of thuMortgage and Note(s) secured hereby, make further advances to the Mortgagor 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 may decrease or increase from time to time. but the total unpaid balance so
setured at any one time shall not exceed the maximum principal sum of N~A ,together with
interest thereon and any and all disbursements 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 !or reasonable attorney's fees and court costs incurred in the collection of any or all of such sums of money.
'IBIS IS A BAI.iAQ~1 M7~(a~ AND 1~ F'IlVAL PANT OR 1~ BALIACN IXIE UP(xd MAZURITY IS .
$8,136.00 TnC~'11~R WI'i~i AOCIti~ IlPIF.RE~ST, IF ANY, AMID AIL A1~VAN(~1~TS ME1DE BY ~
I~F1t ~ 7~~5 OF T~iIS I~C,AGE . •
IN WITNESS WHEREOF, the said Mortgagor has executed this mortgage under seal on the day and year herein
first above written
Sign sealed and delivered in the presence of
William R. Henderson Jr.
/1,c.t_~ Gam" ~ '
Marie K. Henderson
STATE OF FLORIDA
COUNTY OF MARTIN ~
Before me personally appeared WILLIAM R . HENDERSON Arid MARIE K . HENDERSON ~
his wife
to me well known and known to me to be the individual___ described in and who executed the foregoing instrument,
and acknowledged before me that .~he.t~ executed the same f~ the purposes therein expressed.
WITNESS my hand and official seal this 13 day of r~Ch
• ,p;,~.
Notary Public i and for
the County and State Aforesai '
My commission expires: ~c
ATE OF ~ MDiAt/ 1lAlK S1AiE OF fLfJt1QA l1rt~i`'?!~L`~` ;,R~
ss. fir t70A1AAISSIVI E~1lS sew . !t tft~'
COU OF `
Before me ovally appeared
and , to me well known and
known to me to be the President and Secretan•
respectively of ,the corporation
named in the foregoing instrumtnt, and known me to be the persons who as such officers of said corporation, exicutrd
the same; and then and there the said and thr said
did acknowledge before me that said
instrument is the free act and deed of said corporation by them yes 'vely executed as such officers for the purpuce
therein expressed; that the seal thereunto attached is.the corporate seal by t in like capacity affixed; all under authorin•
in them duly vested by the Board of Directors of said corporation.
WITNESS my hand and official Brat this day of , ~9_
4'79865 ~ 1t~ 39
Notary Public in and for
i11q R_~~lg the County and State Aforesaid.
~ - f~+~ttlE CO~SwASh My commission expires:
T ~ strumrnt prepucd h~•: St }•i'ii'I••'
First `'ate Bank ik Trust Co. of Stu: C1RC11~ Ct~ •
y[P.tFIC~ r fl(i~ r
P.n. nraw•rr z~l~~ 8!S~iK.•.~2 ( PdGE~~4
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