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16. When any amount of money to be paid by the Mortgagor to the Mortgagee under the terms hereof:hall be in default, or ~
should the Mortgagor default In any of the terms. provisions or conditions of this Mortgage. then and in that case the Mortgagee
shall have the right. without aodce to the Morcgagut, to ~ollsct and receive from any tensnt or lessee of asid mortgaged premises
the renq, ist~ues and pmlits of the real cute hereby mortgaged and the improvements thereon, and to give proper receipts and
acquittances therefor, snd after paying all commissIoru of any rental agent collecting the same. snd any reasonable attorney s
fea and other necessary expenses incurred in collecting same, to apply the proceeds of such collectiot: upon any indebtedness.
obligation or liabUlcy, of the Mortgagor hereunder. The Nght granted the Mortgagee under this paragraph shag be in addition to.
and shall not limit or restrict any other right or rights granted the Mortgagee in this Mortgage.
17. Thst in the event that this Mortgsge is given to secure a construction loan, fiIlure on the part of the Mortgagor or the
Mortgagor s contractor, architect. eaglneera, orsub-contractors to comply with the terms of the Construction Loan Agreement
fisted N/A which is by reference incorporated herein. shall. at the option of
the Mortgagee. constitute a default hereunder. -
1 e. In the event that the Mortgagor makes payment by check or checks thst the Mortgagor has failed to properly endorse, the
Mortgsgor does hereby sppoint the Mortgagee u its attorney-in-fact to supply on behalf of the Mortgagor any and all endorse
meats Accessary to nbgotiate 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 authorises the Mortgagee to add acid sum to the principal balance of this Mortgage and said sum shall be secured by said
Promissory Note and Mortgage ss though it was an additior>sl advance under the terms and conditions of this Iliortgage: 4
19. I'T 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 snytime within ten (l0) years from the date hereof and before Cull pay-
ment ofthis Mortgage 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
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-
petty coveted 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 reasonable attorney's fees and court costs incurred in the collection of any or all of such sums of money. i
IN tiiITNESS WHEREOF, the said Mortgagor has executed this mortgage under seal on the day and year herein
first abov written. ~
Sign ed and d iv the presence of
S
L~ C - _ ~
~~~C STL
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•1980 MIIR 26 PK 12 06 ~
r f:0 AND ttECG io
STATE OF i ss. - • 480921 s~i~R
a~~s~
COUNTY OF ~ GC.{,t~.t.~aJ q,~Jllt CIRCWT C~IR
Before me personally appeared p~ ffilA3 V81~e ~~r h~S ~£ei1~~/fRtf~Q
~ r-~--=rte= *~--E
+t:- ~ '
~ to me.-wdf'kr~wid~and known ~ me to be the individual
Sdescribed in and who executed the foregoing instrument, t
~ and•acfilsed~before.me that _he.~ executed/the same for the purposes therein ex teased.
~ •7Tf WP1~i)rSS Jury hand and official seal this da of 80 s
y 19
1~ i__ ~~~~'x-~- Nota ublic in and for a
ti~y:y the unty and State Aforesaid.
~~-t` ' t?1y commission expires: -
_
~ Before me perso appeared q~
and , to me well known and
- F
known to me to be the President and Secretary
respectively of ,the corporation _
named in the foregoing instrument, and known to met the persons who as such officers of said corporation, executed
~ the same; and then and there the said and the said _
4
did acknowledge before me that said
instrument is the free act and deed of said corporation by them respectively ex ed as such officers for the purpose
therein expressed; that the seal thereunto attached is the corporate seal by them in like city 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 tq_
t
s
Notary Public in and for -
the County and State Aforesaid.
- bfy commission expires:
This instrument prepared by:
First National Bank fir Trust Co. of Stuart
Stlaren K. Welk+~ (i~
P.O. Drawer 2316 P~E ~ ~
~ Stuart. Fhrida 33494
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