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HomeMy WebLinkAbout0456 16. ~ltea 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 say of the terms. provisiotu o: conditiotu of this Mortgage. then and in that cane the Mortgagee shall have this right. vrithout notice to the Mortgagor. to collect sad receive from say tettsttt or lessee of siid mortgaged premUea the.rents. issues sad profits of the real esute hereby tortgaged and the improvements thereon. and to glue proper receipts and acquittances therefor, and after paying all commisdons of any rental agent collecting the same. sad any reasonable attorney's • fees and other necessary expenses incurred in collectittd same. to apply the proceeds of"tuch collections upon any indebtedness. obligation or liability. of the Mortgagor hereunder. The right granted the Mortgagee under this paragraph shall be itt addition to. and shall sot limit or restrict any other right or rights granted the Mortgagee in this Mortgage. 17. That in the event that th4 Mortgage is given to secure a coastructioa loan, failure oa the part of the Mortgagor or the Mortgagor s contractor. architect. engineers, or sub•coatracton to comply with the certns of the Construction Loan Agreement dated _ _ ~ _ _ _ ~ _ _ which is by reference incorporated herein. shall. at the option o[ the Mortgagee. constitute a default hereunder. 18. In the event that the Mortgagor makes payment by check os checks that the Mortgagor has failed to properly endorse. the Mortgagor does hereby appoint the Mortgagee n its attorney-in-fact to supply on behalf of the Mortgagor any and all endorse- ments accessary to negotiate said check or checks and the Mortgagor agrees to hold the Mortgagee harmless from any liability whatsoever for supplying acid endorsement. In the event the Mortgagee shall cash a check for the Mortgagor and acme shall be returned for insufficient 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 priaNpal balance of this Mortgage and said sum shall be secured by acid Promissory Note and Mortgage ss though it fuss 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 Mortgagor. the Mortgagee may 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 [urther advances to the Mortgagor and say 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 covered by the lien of this Mortgage with interest on such disbursements at tht 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 WITNESS WHEREOF. the said Mortgagor has executed this mortgage under seal on the day and year herein first above written Sign, led and livered in t aienoe of: ar Pou o Sandra Poulos " 1980 SEP -9 AM iQ~ 32 Florida S? LI CIE COt K1Y ftA. 4;~8~I~V ~ . STATE OF ROGER POITRAS COUNTY OF St . Lucie CLERl6CIliCU1T CCL' REC~r~ ~CPif~i r_- i Before me personally appeared Narry Poulos and Sandra Poulos (his wife) i to me well known and known to me to br the individuaLg described in and who executed the foregoing instrument..... and acknowledged before me that t hem executed the same for the purposes therein expressed: ~ " ~ WITNESS my hand and official seal this 20th of s .--~~,'~9_80 . , tr ' ' Nota ublic in and fo - _ the County and State Aforesaid. ~ ~ ~ - f . . My commission expires: • " - STATE OF rv~iAF~. ruM s,•rF ~l:~~UA i?s=Ut~;! ~ ' u- M . ~MMISSI~Y~ iXPIRFS ift'~. 29 {9a2 ~ COUNTY OF t :rr~~ ice;; .:EwtRA? ,~r, ~Eftwltitf~s? ~,i: ``:s.;.~.~ Before me personally appeared ~ ~ 4 ~ • and , to me yell known and known to me to be the President and Secretary respectively of ,the corporation f named in the foregoing instrument, and known to me to be the persons who as such officers of said corporation, executed 5 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 i in them duly vested by the Board of Directors of said corporation WITNESS my hand and official seal this day of , 19- 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 UR P. 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