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HomeMy WebLinkAbout0894 16. • When any amount of money to be paid by the Mortgagor to the Mortgagee under the terms hereof shsU be in default. or shoujd tha Mortgagor default in any of the terms, provisions or conditions of thb Mortgage. then and in that case the Mortgagee shall have the right, without notice to the Mortgagor, to coped and receive from any tenant or lessee of said mortgaged premises the renu, issues and pcoRts of the real ante hereby mortgaged and the improvements thereon. and to give proper receipt: and acquittance: therefor. and after paying ap commissioas of any rental agent copecting the same, and any reasonable attorney's fees and other naesaary expenses incurred in collecting same. to apply the proceeds of such collections upon any indebtedness. ' obligation or liability. of the Mortgagor hereunder. The right granted the Mortgagee under this paragraph shsp be in addition to, and shall not Umit or restrict any other fight or rights gamed the Mortgagee in this Mortgage. t 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•contactors to comply with the terms of the Construction Loan Agreement dated _ _ _ _ _ _ which is by reference incorporated herein. shall, at the option of i the Mortgagee. constitute a default hereunder. 18. In the event that the Mortgagor makes payment by check or checks that the Mortgagor has failed to properljr endorse. the Mortgagor does hereby appoint the Mortgagee ss its attorney-in-fact to supply on behalf of the Mortgagor any and all endorse- ments necessary to negotLte said check or checks and the Mortgagor agrees to hold the Mortgagee harmless from any liability whatsoever for supplying said endorsement, In the event the Mortgagee ahap 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 Mortgagor hereby authorizes the Mortgagee to add said sum to the principal baLnce 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 conditions of this Mortgage. l9. 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 (l0) years from the date hereof and before full pay- ~ ment of this Mortgage and Note(s) secured hereby. make further advances co 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. >Stlt the toal unpaid balance so secured ac 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 tht pre} perry covered by tht lien of this Mortgage with interest on such disbursements at the rate specified in the Note referred to in this Mortgage. and for reasot>:ble attorney's fees and court costs incurred in the collection of any or all of such sums of money. IN WITNESS WHEREOF, the said Aortgagor has executed this mortgage under sea! on the day and year herein first above written. Sign led and elivered i e presence of: ~ - L. CREW LA H. CREW , . . .1930 OCT 22 Ate 3. 24 . nr Y ~ _ - ~ STATE OF .O TDA FtIEC Ra[ NECQtGf it : ~l+'~'~ ~ - ~ :r~. MARTIN ss. SLIUCIf CGWii~T F``x. ~'1©~ COUNTY OF ROGER POITRA5 ~.Q < ..~\e~j ~ . CLERK ClRG:lT CCCRT ~ ~~~',~',7.,~,;:i ~ Before me personally appeared David I~_"t~is~,~Rataela H. Crew (his w3~ tz V~~ ~a~~`$ ~ '•Sta~ St1tNTeM e f i i to me well known and known to me to be the individuaLt~ described in and who executed tht .foregoing instrument, and acknowledged before me that ~.he~L executed the same for the purposes therein expressed. WITNESS my hand and official seal this 6th day of October ~~80 4 ~ ~ Notary Public in and or ` the County and State Afortaitl. ~ ~ ~ . ? iQ My commission expires= ' " . ' ~ STATE OF _ _ , COUNTY OF ~ &v r Before me personally appeared ` and , to me well known and known to me to be the Presidrnt 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, rxecuted the same; and then and there the said and the said { did acknowledge before me that said j instrument is thr free act and deed of said corporation by them respectively executed as such officers for the purpose i 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 , 19_ Notary Public in and for the County and State Aforesaid. My commission expires: This instrument prepared by: . First National Bank tit Trust Co. of Stuart ~~AA'' pn ! ~ P. O. DraR~rr 2~~~, f3~Ke)`t~. -PAGE D~4