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prior to entry of a judgment enforcing this Mortgage if: (a) Borrower pays Lender all sums which would bs then due under
this Mortgage. the Note and notes securing Future Advances; it any, had no acceleration occurred; (b) Borrower curs
all breaches of any other covenants or agreements of Borrower contained in this Mortgage; (e) Borrower pays all reasonable
expenses incurred by Lender in enforcing the covenants and agreements of Borrower contained in this Mortgage and in
enforcing Lender's remedies as provided in paragraph 18 hereof. including, but not limited to, reasonable attorney's fees; and
(d) Borrower takes such action as Lender may reasonably require to assure that the lien of this Mortgage, Lender's interest
in the Property and Borrower's obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon such
payment and cure by Borrower, this Mortgage and the obligations secured hereby shall remain in full force and effect as if
no acceleration had occurred.
20. Aadgsreeat of Reneq AppoirNaneat of Receiver. As additional security hereunder. Borrower hereby assigns to
Lender the rents of the Property, provided that Borrower shall. prior to acceleration under paragraph 18 hereof or abandon-
ment of the Property. have the right to collect and retain such rents as they become due and payable.
Upon acceleration under paragraph 18 hereof or abandonment of the Property, Lender shall be entitled to have a
receiver appointed by a court to enter upon, take possession of and manage the Property and to collect the rents of the
Property, including those past due. All rents collected by the receiver shall be applied first to payment of the costa of
management of the Property and collection of rents, including. but not limited to. receivers foes, premiums on receiver's -
bonds and reasonable attorney's Tess. and then to the sums secured by this Mortgage. The receiver shall be liable to account
,only for those rents actually received.
21. Future Ad~swcea. Upon request by Borrower. Lender. at Lender's option within twenty years from the date of this
Mortgage. may make Future Advances to Borrower. Such Futprc Advances, with interest thereon, shall be secured by this
Mortgage when evidenced by promissory notes stating that said notes are secured hereby. At no time shall the principal
amount of the indebtedness secured by this >cortgage, not including sums advanced ipp aeoordance herewith to protect the
security of this Mortgage, exceed the original amount of the Note plus USS....~Ss.$QQ~QQ... -
22. Release. Upon payment of all sums securrd by this Mortgage, Lender shall release this Mort a withou(;
to Borrower. Borrower shall pay all costs of recordation. if any. g ~ r~`-
23. Attoraey's Fees. As used in-this Mortgage and in the Note. "attorney's fees" shall include attorney'; ti,;es~i~•itn~.,..
which may be awarded by an appellate rnurt. :
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IN WIrN~ss WHEREOF, Borrower has executed this Mortgage. = ~ ~ ~ _
'~Ei ~s,.n ~r~G`
signed, sealed and delivered •
inthepresenceof• Laurel Builders, Inc. a Floriila_9C8_,rporat~d~:~;'.~`
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• • ' • • • • 'Peter G. •Ro6i n'sori, ~1ice' P'res'ident" -s~,r
`~~f:/~ :K/.`~Of.:. I~~
I SCAT
.
-Borrvrr~r
STATE OF FLORIDA -COUNTY OF INDIAN RIVER
I HEREBY CERTIFY, that on this 3rd day of September 19~.
before me personally appeared Peter G. Robinson-----------------ter}-------_-___
I; ---------------------respectively- Vice President tst~•------------------------
S~`a't'Y-----';----'------------, of Laurel Builders, Inc.
' a Florida Corporation, to -se known to be the person![ described in and
whd executed the foregoing instrument, any severally acknowledged and execution
thereof to be their free act and deed as such officers for the uses and ur
p poses i
therein mentioned; and that they affixed hereto the official seal of said corporation
k and said instrument is the act and deed o: said corporation.
WITNES y~hand and official seal at Vero Beach
said county
and'~st t~: : _
-c~ r • :o dry ubl ic, in and for State and County
' aforesaid. -
yy conmi ssion expires:
` ~ ~ .
-~ecul• i ty~~ F~era 1 Savings and Loan MY Commission Expires February 22, 1984
/~~s'paF~~ort•of Indian River County
Vero Beach, Florida 32960 -
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498'740
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- ROGFA f'Al i
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• CLERK CiBC;(pjt
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