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16. When any amount of money to be psid by the Mortgsgor to the Mortgsgee under the terms hereof shall be is dsiault, or
should the Mortgagor default is any of the terms, provisloaa or conditions of this Mortgage. then and In chat case the Mortgsgee
sball have the right. without notice to the Mortgagor, to collect sad receive from any tenaat or lessee of acid mortgaged premise:
' the rents, issues and profits of the real estate hereby mortgsged and the improvements thereon. and to give proper receipts and
acquittances therefor. and after paying aU commission: of any rental agent collecting the name. and any reasonable attoraey's
fees and other necessary expenses incurred in collecting same. to apply the proceeds of such collections upon any indebtedness,
obligation or lLbility. of the Mortgagor hereunder. The right granted the Mortgsgee under this paragraph shall be in addition to.
and shall not limit or restrict any other right or right: granted the Mortgagee in this Mortgage. .
17. That in the event that this Mortgage is given to secure a construction loan. failure on the part of the Mortgagor or the
Mortgagor a contractor. architect, engineers, or aub•contractors to comply with the terms of the Construction Loan Agreement
dated which is by reference incorporated herein, shall, at the option of
the Mortgagee. coaatitute a default hereunder.
18. In the event that the Mortgagor rrtakes payment by check or checks that the Mortgagor has failed to properly endorse, the
Mortgagor does hereby appoint the Mortgagee as its attorney-irt•fict to supply on behalf of tht Mortgagor any and all endorse
ments necessary to negotLte said check or checks sad the Mortgagor sgrees to hold the Mortgagee harmless from any liability
whatsoever for supplying said endorsement. In the event the Mortgagee shall ash a check for the Mortgagor and same shall be
returned for iruufflcient 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
P:omissory Note and I?fortgage 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
bortgagor, the Mortgagee rosy hereafter. at it option, at anytime within ten (10) 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 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 unlsaid 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-
perry covered by the lien of this Mortgage Frith 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 Burns of money.
1N WITNESS WHEREOF, the said Mortgagor has executed this mortgage under seal on the day and year herein
first above written.
Signed, seal nd delivered i presence
rry P s
- Sandra Poulas -
- 4~iss4
19~ APR -Z AM 1l= 34 -
STATE OF Florida = EQ ~~~Fo
COUNTY OF St . Lucie ss.
~ ~
Before me personally appeared Harry POUl~ and Sandra PoulmG r his Wi a VEBtf'Ilrp
to me wrll known and known to me to be the individual.- described in and a•ho executed the foregoing instrument.
` and acknowledged before me thatttle6(e_ executed the sa/me for the purposes therein expressed. .
e WITNESS my hand and official seal this r day of ~ -i9 '
I ~ • ~ C`~,
- Notary Public i d for - ~ ~ ~ ~ -
the County and to Aforesaid. ;
Aly commission expires: tt~ tl?:r
Xt 11,R~_7
.ry ~-•',,,,tittnt:~ E~Yltis wts,
STATE OF ...rsri• ~M).:) ,:~tvr ,X .
ss. •~~~1'i.~l.At rFjc
C_OUITTY OF /
Before me personally appeared
and - ~ , to me well known and
known to me co 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 thr 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
in them duly vested by the Board of Directors of said corporation.
i
V~rITNESS my hand and official seal this day of . 19-
' Notary Public in and for
the County and State Aforesaid. ' -
biy commission expires:
This instrument prepared bv:
First Natioml Bank dr Trust Co. of Stuart
P.O. Drawer 23IG B~bK t~ PACE 1~
Stuart. Florida 31494