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5-53,770-4
11. The Mortgagor has under the other provisions of this Mortgage attd does hereby auign to the Mortgagee the rents of the Property,
provided that the Mortgagor shall, prior to the acceleration of the mortgage indebtedneu as clxwherc herein provtded or the abandonment of
the Property, have the right to collect and retain such rents as they become due and payable. Upon acctleration under the other provisions
hereof or the abandonment of the Property, the Mortgagee shall be entitled to take posxuton o and manage the Property and to collect the
rents of the Property including thox past due. All rcntscolkcted shall be applied first to the payment of the costs of management of the Property
and collection of the rents including but not limited to attorney's and real estate broker's Tres and then to the sum secured by this Mortgage. The
;~lottgagee shall be liable to account only for thox rents actually rrceivtd.
12. In the event suit is instituted to torcclox this mortgage the Mortgagee shall be entitled at any time pendingsuch foreclosure toapplyto
the court having jurisdiction ihercof for the appointment of a receiver of the property and all of the rents, incomes, profits, iuues and revenues
thereof from whatever source derived and the court shall forthwith appoint such receiver with the astral duties and powers of receivers in like
uses and said appointment shall be made as a tnatter o[ strict right to the Mortgagee and without refercna to the adequacy of the value of the
i'ropeny or the solvency of the Mortgagor or any other party to such suit. The Mortgagor hereby waives the right to object to the appointment
o(a receiver and consents that such appointment shall be made as an admitted equity and as a matter of absolute right to the Mortgagee.
13. The abstract(s) of tick covering the Property shall at all times during the term of this mortgage remain in Qosxssion of the Mortgagee
:end in the event of foreclosure or other transfer ottitle to the Property, all right. tick and interest of the Mortgagor to and to the abstract(s) shall
pass to the purchaser or grantee.
14. If any irutallment of principal and interest is not paid to the Mortgagee within fifteen (1 S) days after the same becomes due and payable
ur if each and every of the Mortgagor's promises and covenants xt forth in this mortgage and/or the Note arc not fully and promptly
performed. complied with and abided by, the entire sum of principal and interest secured by this mortgage shall at the option ottee Mortgages
become due and payable in full at once as if originally stipulated to be so paid at such time notwithstanding anything in this mortgage or Note to
the contrary.
1 S. If the ownership of the Property or any part thereof becomes vested in a person other than the Mortgagor, the Mortgagee may, without
Warier to the Mortgagor, drat with such successorys) in interest with reference to this mortgage and the Note in the same manner as with the
!~1 urtgagor, without in any way discharging the Mortgagor's lies bility hereunder or upon any debt hereby secured. No sale of the Property and no
f ~~rbearance on the part of the Mortgagee or extension for the payment of tht debt hereby secured shall operate ;o rcleax, discharge, modify,
change or affect the original liability of the Mortgagor either to whole or in part.
16. The terms "Mortgagor" and "Mortgagee" wherever uxd in this instrument shall include the heirs, personal rcprexntatives, successors
:end assigns of the respective parties; the singular number shall include the plural, the plans: shall include the singular and tht use of any gender
,hall include al! genders.
17. This mortgage shall xcure not only the existing indebtcdncu but also such future advances which the Mortgagee at its option may grant
upon the request of the Mortgagor as may be made within twenty (20) years to the daft hereof to the same extent as if such future advances were
made on the date of execution otthis mortgage and although there may not be any indebtedness outstanding at the time any advance is so made.
It is intended that the lien of this mortgage shall be valid as to all such indebtednesses and future advances from the time this mortgage is
recorded in the public records. The total amount of indebtedness that may be secured by this mortgage may decreax or increase from time to
time provided however that the total unpaid balance secured at any one time shall not exceed a maximum principal amount equal to three times
the original amount of the original indebtedneu secured hereby plus interest and anydisbursements made bythe Mortgagee forthe payment of
taxes, levies or insurance on the properly, together with interest thereon, plus reasonable attorney's fee and court costs incurred in the collection
of any or all of said sums of money. To the extent that this mortgage may secure more than one note a default in the payment of one note shall
constitute a default in the payment of all other notes.
Ig. Name(s) of Mortgagor(s):
MELBA WALLACE, an unmarried woman
19. County in Florida wherein Property is situate and description thereof: ST. LUCIE COUNTY
Lot 12, in Block "B" of RIVERVIEW MANOR, according to the Plat
thereof as recorded in Plat Book 9, at Page 69 of the Public
Records of St. Lucie County, Florida
20. Rank or priority of this mortgage: , ; + ~ ~ ~
' 3~ „3
j SECOND MORTGAGE ,
21. Original amount of Note: - '
$6,725.00
! Maturity of Note: ~ ~ .
August 15 , 198 7 -
I 22. Date Mortgage and !Vote executed: 50'~
so
November 13, 1980
F
~ N'uncsse
3
z
(SEAL)
~ ME A WALLACE, Mortgagor •
(SEAL] a
~ tii Al E OF FLORIDA )
~ C>U1TY OFst ~ ss:
Lucie )
ticfore me personally appeared the inditi idual(s) above described as the Mortgagor who executed the foregoing Mp~tgage,;,ygell known to me,
nd who acknowledged before me that he (she, they) executed the same for the purposes therein expreued. lM;VVT~Ii((~9S ~~L'-$EOF 1 have
yet my hand and official scat in said County and State lice date upon which the mortgage was executed.: ~
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otary ~ . ~ ~
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June 30, 1983 f?It ;
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X343 P~~fi289