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HomeMy WebLinkAbout1901 • ~ • i ' 16. a//hen any amount of money to be paid by the Mortgagor to the Mortgsgee wader the terms hereof:hall be in default. ar should the Mortgagor default in nay of the terms, provisions or conditions of ibis Mortgage. then and in that cane the Mortgagee shall }rave the right, without notice to the Mortgagor. to collect and receive from any tensnt or lessee of uid mortgaged premises the rents. Issues and prnfits of the real estate hereby mortgaged snd the improvements thereon, and to give proper receipts and acquittances therefor. and sfte~ paying all commissions of any rental agent collecting the acme, and any reasonable attorney's fees snd other necessary es~ettse: Inturred in collecting ssme. to apply the proceeds of such collections upon any indebtedness, obligation or liability. of the Mortgagor hereunder. The right ganted the Mortgagee under this pangcaph shall be in addition to. and shall not limit or restHct nay other right or rlghu gntttted the Mortgagee in this Mortgage. 17. That in the event that this Mortgage is given to secure a coaatruction loan, failure on the part of the Mortgagor or the Mortgagor's contractor, architect, engineers, or sub•contracton to comply with the terms of the Construction Loan Agreement dated N.1A _ which is by reference incorporated 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 attaraeyirt-fact to supply on behalf of the Mortgagor any snd all endorse- ments necessary to negotiate acid check or checks and the Mortgagor agrees to hold the Mortgagee harmless from any liability whatsoever for aupplyittg said endorsement, In the event the Mortgagee shall cash a check for the Mortgagor and ume 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 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 i Mortgagor, the Mortgagee may hereafter, at it option, at anytime within ten (lo) years from the date hereof and before full 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 shalt be evidenced by an additional Note then unpaid, and the total amount of indebtedness Hutt 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 prlacip:l sum of i--__ 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 p{o- , 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 reasonable attorney's fees and court costs incurred in the collection of any or all of such sums of money. - IN Q/ITNESS WHEREOF, the said Mortgagor has executed this mortgage under seal on the day and year herein t first above written. Sig sealed and delay ed in the presence of F _ _ lc,~ Gt~v~y~L - STATE OF ~'lC~C)8 - COUNTY OF M8rbI1 Before me personally appeared ~~7~1 ~'IeSr ~1~8 W~.fe to me well known and known to me to be the individuaLB described in and who executed the foregoing instrument. and acknowledged before me that ~he~t executed the same for the purposes therein expressed. - - ~ ~ - •A~f~VESS my hand and official seal this day of 1"~r . - 3 ~ X81625 - - ~ ~f t? '2 M 3' ~0 No ary Public in d for the County and State Aforesaid. • ~ - 5Ti4UG!E CDUIRY~LA. Aiy commission expires: 6 ~/D ~~J STll,TE`01+-~'' , R I.ORRAST COUNTY OF CIRCUIT !tD{M VERIFICO_ Before me personally appeared 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 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 f in them duly vested by the Board of Directors of said corporation. - WITNESS my hand and official seal this da of f Y , 19_ Notary Public in and for - the County and State Aforesaid. RETURN TO: 11Iy commission expires: ~ t This instrument prepared by: I First Natiorul Bank dt Trust Co. of Stuart Sharers K. Welker P.O. Drawer 2316 g(~~ PAsE~~ Stuart. Florida 33494