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Home My WebLink About1402• -~bo~ 3 121 ~ • • - ST. LUCIE COUNTY. FLA. 8. Until default is the performance of the oo~veraab and agrbement; of this mortgage, the mortgages shall be entitled to collect the rents, issues and profits frown the heseir-before described, but in coe of a defauh in any of the terms of this mortgage, and the filingg of a bW to forecloae~thi~or am other martg~ge umbering the within desaibed property, the Association shall icrgnediatel and without rioU6e be entitled to the appoiniaient e>E a Reeerver of the mortgaged rty, and of the rents, issues and profits thereof, with .the usual p° theKeofR d such foreclosure, and T~intil the conEu na~El sucl ;n possession of the said propert}• until tbe time'eTf the sale s:dc by the Court. herein described, 9. If a conveyance should be made by the mortgagor: of the premises or any part thereof, without the written consent n the Association, and without assumption in regular form of law by the grantee of the obligations to the .;;;;v:=tin created by said promissory note and this mortgage, then, and in that e~tr-t, and at the option of_ the Ass„ciati,,,~_ :,,:+t ~vit'.m:T± noti*_p, all rums of mcxiev sex~.ired hereby shall immediately and concurmit+ ~:u s::ch ~vAy aric`e b`-"-'"me due and a ~?.~ .tPl.- i~orPhv payable and in default. The Association may deal with successors Ili iutere:st R;ih raicrence•io tl•._~ !l:uftb.b~ •'`• ..•.- -•~-- . secured in the same manner as with the mortgagors, and may forbear to sue or may extend time for payment of the debt, secured hereby, ex otherwise aM without discharging or in any way affectuig iiic iiiiu'wtj% cf tl:~ :.^.'vrt'*nA"*~ hemunder or upon the debt b'O-- - • , . • .,..d ir; ...:.1. ~,,.vweenn in intereKt with reference to this hereby secured. 'i he Association uiay aiw ue.u w-uj i„c ..,u.:~.ibi..'S .:-• .. _ mortgage and the debt hereby secured by forbearing to sue, extending the time fa payment of the debt, prov(ding for dif~eren` mont~ily payments and/or a different interest rate, and b other express mociin`catiuiis of the c~i:tra::t, sc~haut lcsin~ any ~ . the Association has over other mortgagees or lienors or holders of any junior interests in the property secured here$)'• l0. That in the event the premises hereby mortgaged, or any part thereof, shall be condemned and taken for public T-se under the power of eminent domain, the Association shall have the right to demand that all damages awarded for the taking of or damages to said premises shall be paid to the Association, its successors or assigns, up to the amount unpaid on thu mortgage and nosy beapplied-upon the payment or payments last payable thereon. 11. It is specifically agreed flies time is the essence of this c~itract and that no waiver of any obligation hereunder or of the obligation secured hereby shall at any time thereafter be held to be a waiver of the terms ex of the instrument secured hereby. 12. If foreclosure proceedings of any second mortgage en second tnLSt deed or any junior lien of any kind should be insti- tuted, the Association may at its option, immediately or thereafter declare this mortgage and the indebtedness secured hereby due and payable. 13. To the exteTit of the indebtedness of the Mortgagors to the Association described herein or secured hereby, the Asso- elation is hereby subrogated to the lien or liens and to the rights of the owners and holders thereof of each and every mortgage, lien or other encumbrance on the land described herein which is paid and(or) satisfied, in whole or in part, out of the proceeds of the loan described herein or secured hereby, and the respective liens of said mortgages, liens or other encumbrances, shall pass • : l:l"-_• •''- A'=-,~.s-i^n h!'Trin as security for the indebtedness to the Association herein described or hereby secured, to ,.,..: ::. , u us a:::. .i ~_ ~ i, i 1 icy Pilo Ae_v_v_7aii~n iTacl ii uttiij the same ex!ent that it would have been preserved and would have oven lTasse-cl to an., ...;~ ..e.' duly and regularly assigned, transferred, set over and delivered unto the Association by separate deed of assignment, notwithstand- ing the fact that the same may be satisfied and cancelled of record, it being the intention of the parties hereto that the same will be satisfied and cancelled of record by the holders thereof at or about the time of the recording of this mortgage. 14. To pay all and singulaz the costs, charges, and expenses including lawyers fees, reasonablyy incurred or paid at env time by the Association, }Tecause of the faihve of the Mortgagors to perform, comply with and abide by each and every stipula- tions, agreements, conditions and covenants of said promissory note and this deed, or either, and every such payment shall hear interest from date at the rate stated in the note secured hereby. 15. That he will permit, commit, or suffer no waste, impairment, or deterioration of said property or any part thereof; and in the event of the failure of the Mortgagors to keep the buildings on said premises and those to be erected cxi said premises. or improvements thereon in good repair, the Association may make and pay for such repair as in its discretion it may deem al.,.~,...F oR~ tru, inlli H(1N)iltil ele ~lltji is:jiiii£T.~..'a °sl'»ll ti`_ 5°C!'riYl by thP. lien of this mortta~r• ncY•essary for the prul>CC lrcx::a.:: . ..........:. --- ---- _ wad shall at the option of the Association be immediately due and payable, or payable in such monthly irlStaiimrr-i as il,e A~..:;a- tion may determine, and every such payment shall bear interest from sate at iiie rate stated in the note secured hereby. 16. That if the Association and the Mortgagors agree, the Mortgagors will carry a policy or policies of insuriTice Tipl,t, their lives in an amount edual from time to time to the amount ofvidebtedness hereby secured, making said Assfi goon beneii= clan' thereunder, and that the said Association may pay the premiums for such insurance (in the event the Mort i ors do not) , and add each such payment to the unpaid balance of the loan, as of the first day of the thc^ current month, and it shall become :ulditional indebtedness secured by this mortgage payable upon demand. li. That in the event that this mortgage be given to secure a construction loan, failure on the part of the \turtgagors ur their cY,ntrictnrs to complete said building in accordance with tyonstniction Loan Agreement, of even date herewith, or to fie ~ cl said constnuction in accordance with plans and specifications filed with the Association, shall constitute a breach of this mort - e•, aucl, at the option of the Assoxiation, immediately mature the entire amount of principal and interest hereby secured and the ASSU- ciation may immediately irutitute proceedings to foreclose this mortgage. 1S. That the abstract or abstracts of title covering the mortgaged property shall at all timfi ,gduring the life of this mort- kagr, remain in the possession of the Association and in the event of the foreclosure of this mort i e or other tr:insfcr of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the Mortgagors in :uxl to any such abstraMs of title shall pass to the purchaser or grantee. 19. The Association shall have the right, in its discretion, to require that the Mortgagor p:iy into the Association in Sdcgli- tion to the monthly installments of principal and interest to be paid by the Mortgagors under the note secured by this mort ~ e, an amount equal to one-twelfth of the annual installments of any taxes on the mortgaged premises levied or asse•sscd by an}' •+nvcrnmental authority, and one-rivelEth of the annual premiums fur Fire and Extended Coverage insurance on the mortga~cd • f.il:;rc to ^;al_~ a,~h naymcnts shall comstitute a cicfauii nrcmisc. ore hcminbefore required by the Assnc•iation, and the ~iurig:.g~~~ un~lrr this mortgage. IN WIT\'ESS \1'IiEREOF, the said Mortgagors hereunto set their hands and seals the day and year first alxrve•writtr•n. Signed, se and de1i~ he pr cc ~ ~ ~ ~ , , W>~liam T. C _ ~l ~, ,,~~ an G'~%V~ ~~ LL'~c" ~ L~~'~11s ~ (SI:A1.) 'Anne C. Callan ~~ ~~ (SEAL) (SEAL) (MORTGAGORS) (WITNESSES)