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• t6. When any amount of money to be paid by the Mortgagor to the Mortgagee under the terms hereof shall be in default, or
should the Mortgagor default in any of the terms, provisions or conditions of this Mortgage, then and in chat tax the Mortgagee !
shall have the right. without notice to the I?tortgagor, to collect and receive from any tenant or lessee of uid mortgaged premises
the rents, issues and profits of the real estate hereby mortgaged and the improvements thereon. and to give proper receipts and
uquitt~nces therefor, and after paying all commissions of any rental agent collecting the same, and any reasonable actornrv s
fees and other necessary expenses incurred in collecting ume, co apply the proceeds of such collections upon any indebtedness,
obligation or lubiliry, of the Mortgagor hereunder. The right gnnted the Mortgagee under this paragraph shall be in 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 Aortgage is given to secure a construction loan, failure on the part of the Mortgagor or the
Aiortgagor's contractor, architect. engineers, or subcontractors to comply with the terms of the Construction Loan Agreement
' dated _~I`
~A which is by reference incorponted herein. shall, at the option of ~
the Mortgagee, constitute a default hereunder.
18. Intltreventthatthelllortga(totmakespaymentbycheckorchecksthattheMortgagorhufailedtoproperlyendorse,the }
Mortgagor does hereby appoint the Mortgagee as its attorney-in-fact to supply on behalf of the Aortgagor any and all endorse-
ments necessary to negotiate uid check or checks and the Mortgagor agrees to hold the Mortgagee harmless from any liability
whatsoever for supplying uid 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 Aortgagor
hereby authorizes the Mortgagee to add said sum to the principal balance of this Mortgage and uid sum shall be secured by said -
Promissory Note and Aiortgage as though it wu an additional advance under the terms and conditions of this Mortgage.
19. IT IS AlUTUALLY 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 full pay-
ment of this Mortgage and Notes) secured hereby, make further advances to the Mortgagor and any such further advances, with
interest, shall be xcured by this Mortgage and shall be evidenced by an additional Note then unpaid and the total amount of
indebtedness that may be xcured by this Aortgage may decreax or increax from time to time, but the total unpaid balance so
xcured at any one time shall not exceed the maximum principal sum off 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-
petty covered by the lien of this Mortgage with interest on such disburxments at the race specified in the Note referred to in this 3
Mortgage, and for reasonable attorney's fees and court costs incurred in the collection of any or all of such sums of money.
~IIS IS A BALIAQ~1 M~~C,~E AMID ~ FIlJAI, PAST OR 1I~ BALIAON D~ t~1 MfA1URI'i'Y IS
9 831.00 TO(~~t Wl'DE~ AOC~',D II~Sr, IF ANY, AMID AIL ADNAN(Il~@Ti5 MADE SY ~
~ 1F~S ~ 14D« M~1C,A(~ .
IN WITNESS WHEREOF, the uid Mortgagor has executed this mortgage under seal on the day and year herein 1
first above written. i
Signed, sealed and delivered in the presence of-
o d
~
L.
Parr ~.a P eY
~l
t
• t
STATE OF ~
COUNTY OF
Before me personally appeared i'• dIICl Pa~'3Cla A. PdUl~i ~ allCl Wlf@
-
to me well known }nd known to me to br the individuatedescribed in and who executed the foregoing instrument.
and s,~pta tore r>ne that ~he.~L executed the ume for~he purposes therein expressed.
~ t~ >~i~nd and official seal this i` ~ ~ day of • ~ . w~_
~ = ~,~s~
-'r~ - s 1980 APR 24 P!I 12 21 Notary Public in and for
~ crkf ~i p ! X•~~= .
" " ~ the Count and State Aforesaid
" ~ •.~r/+'~ FED AMC FEGORIjFO y
~ f;- ~l'~;'~`'S?;~ Sl~`UCIE CQUMTY.F~A. At commission ex lees:
. • RDGER OITRA Y P
I - I~t CIRg1lT COURT - _
~ Before me rally appeared
and , to me well known and
i known to me to be the President and Secrecan•
j respectively of .the corporation
named in the foregoing instrument, and known me to be the persons who as such officers of said corporation. rxccutrd
the same; and then and there the said - and the said
did acknowledge before mr that said -
instrument is the free act amd deed of said corporation by them res lively executed as such officers for the purpose s
therein expressed; that the seal thereunto attached is the corporate seal by min like capacitc affixed: all under authority
in them duly vested by the Board of Directors of said corporation. f
VG'ITNESS my hand and official seal this day of
. 19_
- 3
- 1
j Notary Public in and for
j the Counq• and Stare Aforesaid
fly commission expires:
This in umrnt prrparrcl bp:
First Nano Bank ac Trust Co. of Stuart
P.O. Drawer 231G ~ BQ{~~ Pi~1Ct; ;
Stuart. Fhrida i3J94
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