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16. When any amount of money to be paid by the Mortgagor to the Mortgagee under the terms hereof ahaU be in defiult, or
should the Mortgsgor default in any of the terms. provisions or conditions of this Mortgage. then and in that case the Mortgagee
shat! have the right, without notice to the Mortgagor, to collect and receive from any tenant or lessee of said mortgaged premises
the rents, issues and profits of the real elute hereby mortgaged and the improvements thereon, and to give proper receipts and
acquitunces therelor, and after paying all commissions of any renal agent collecting the same. and any reasonable attorney's
kes and other necessary expenses incurred in collecting same. to apply the proceeds of such collectiotu upon any indebtedness,
obligation or liability, of the Mortgagor hereunder. The right granted the Mortgsgee under this paragraph ahaU be in addition to.
and shall not limit or restrict any other right or righu 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 s Contractor, architect, engineers, or sub-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 default hereunder.
18. In the event that the Mortgagor crakes payment bycheck or checks that the Mortgagor has failed to properly endorse, the
Mortgagor does hereby appoint the Mortgagee as its attorney-in-fact to supply on behalf of the Mortgagor any and all endorse-
men~s necessary to negotiate said check or checks and the Aortgagor 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 sad same shall be i
returned for ituuflicient 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 principa! 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 conditiotu of this Mortgage. !
19. IT IS MUTUALLY CONYENANTED AND AGREED by and between the parties hereto that upon request of the
Mortgagor, the Mortgagee tray hereafter. at it option, at anytime within ten (10) years from the date hereof and before full pay-
men~ 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 maybe secured by this Mortgage may decrease or increase from time to time, but the total unpaid balance so a
secured at any one time shall not exceed the maximum principa! sum of S _ _NLA _ _ . together with
interest thereon and any and all disbursements made by the Mortgagee for the payment of axes, 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 i
Mortgage, acrd for reasonable attorney's fees and court costs incurred in the collection of any or all of such sums of money.
TFII.S IS A BALiAtxT M AND ~ FIIVE~L PAYrENf OR T~ BAIANGE Dim tA'(~1.MAIURITY IS
14 586.00, ZnG~'D~~R WT1H AO(RUF~ Il~ST, IF ANY, AMID ALL ADWAN(~TIS MADE BY ~
~ 1IId~S ~ 1I~IIS rD~Pf~A(~ . -
IN WITNESS WHEREOF, the said Mortgagor has executed this mortgage under seal on the day and year herein
first above written.
Signed, sealed and delivered in the presence of:
~ ~
a i
i
STATE OF
COUNTY OF
Before me personally appeared Miller c'Illd Ai1Ck1 It Miller, h~ Wl.fe
to me well known and known to me to be the individual S described in and who executed the foregoing instrument,
and acknowledged before me that t hem. executed the same for the purposes therein expressed.
r!
".rte" WITNESS my hand and official seal this ~J day of "Y~jl . i9
~ ~ - 1980 AI'R ~ B ~ I~' Notary Public in and for g
a ' ~ - the Coun and ~
Y FalEO ANO MEGOR4t0 tY car== --.aea.~--
2~ St CUGIfR'p1jR~sh~ illy commission ~s.~~x ~ 1~ltall ~ tARGF
;,S''YAT~ OF RbGE T G4li~ i t ~>~Sk7q t7~ttt8 Alit. tF.:vg'
i{Ely(CIRC111 i ~t.~,~ • ri~n>'. ~tx. ~;.,:°i;...:•°~vt
Before me pe ally appeared
and
~ , to me well known and ~
_ i
t
known to me to be the ` President and Secretary
respectively of ,the corporation
named in the fureRoinR instrument, and known to ~rtre 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
in them duly vested by the Board of Directors of said corporation
WITNESS my hand and official seal this day of , iq_
Notary Public in and for
the County and State Aforesaid.
My commission expires:
This instrument prepared by:
First National Bank do Trust Co. of Stuart c~
SF~aren K. Welker BOJK J~ PAGE~~~ ;