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,.><.hCY or policies s,id MORTGAGEE sholll h.Jve the opllon to receive and apply rne 0mt ~... acc,",unl ot tne ,nd<,bleJneis s.!Curej "ereo)' or I"
j>elm.t ~d MOKTCAGORS to receive and usa it Of any pdrl therevf f..x other purp0'>C:; ""thout thereD'; wai..ng or ImpJlfoog an,. (;QUlt'"
I:en 01 risht undel or by viltL'e uf rhis Mortsage; and in the event saId MOR) CAGCRS sh.all 10' .,ny leaSOrl fad to hep the !><l,d premises
SO 'n$Ulod, or fail to deli"tH' plamptly any of uid policies of insur.nct> to SJld MORTGAC.EE, 0' f.ll; promptly to pay full,. any premium lherefc,',
01 in .ny respect f.il to p!tr(olm, diSCholrge, tlJ<8Cut~. effect, Lamplete, cump:y wilh .nd db,d.. by Ih,s covenant, 0' any ~It hereof, said MORT,
GAGEE may pIKe and pay for such i/UUI.nce Of any ~rt thelevf wilhout wai..in& or atfe<:tlr'll any opllon, lien. eqUl~y, or roght undel or by
viltue 01 this MortsaSe. .nd the full .mour,t of Heh .nd every such p.)menl ,'",II be ,mmedlately due and payable and shall be.r 'nleleSI
from the date t~,eol ""til p.lid al the rate of six .,,<1 six,tenrhs pe' cent per annum and toaet!.er with such Interest shall be ,~u'ed by t:",
hen of this mort i<I se. .
., To pelmit, commit 01 suffe' no "'aSle, lmpailment 0' deteliola!IOn 01 said prC'perty 01 any part thereof.
5, It is hereby ~.tiully .Sleed that any sum 01 sums which may be !oane-d or ~d..anc"j t.y Ihe Mc,;'igagt>e lC' ~",e Martg"i'>r al ani
'ime after the lecOfding of this i~nturc, togelher with inte,e:;t the,eon al lhe r.le agleed upon al Ihe I'me 01 such loan or ad..ance, shail be
equa!ly SKYled wilh .nd h.ve the same priority as the origi".t indebt~dness, and be subJl'ct 10 all the lerms and provIsions of Ih,s morlgage:
P/O'o'ided, th.t tt-e ag,regate amount 01 p,inci:N1 outsunding at any time 51....11 not exce.xl an amount equal to one hundre-d and lofty per c'ert
(150%) c-f the princi~1 amount oliginally secu,ed helel-y,
6, To p.;iy all anc:i .ingulal the costs, ch.Hiles and expenses, includIng a re.Honable all::>rney's lee and costs of abslract 01 titl" i.-"
cuned Of paid at any time by So3id MORTGAGEE because or in the event of the failure on the I'oJrt 01 the said MORTG.I\GOR to ciuly, promptly
and fully perform, disc~rge, execute, effect, complete, comply with and abIde by each and every the slipulations-;-agreefTlents, conditio,,;
and covcn.nts of said plvmissory note Ind this mo't,age .ny 0' either, and saId c~lS, charges anc expensps, each and every, shall be
inllnedi.tel'f due and payable; whether or not there be notice. demand, attempt to collect 01 suit penciing; and the lull amount of each and
every such payment .hall bear Intelest from the date thereof until"-paid at the rate of six and si",tenths pu ~ntum per annum; and all said
costs, cholr,es and expenses so incurred or paid, togethel with such ,nteresl, shall be secured by the lien 01 thiS moltgage,
7. That (a) In the event of any breach of this Mortgage or defaull on the part of !he MORTGAGOR, 01 (b) in the e"ent an); of said
sums of money halein referre-d to be not promptly and lully paid within tlHrty DO) days next afler the same severally become due and payable,
without de~nd or notice, 01' (c) in the e"ent each and e"ery the stipulations, argeemenlS, conditions and covenants 01 said promissory not~
M1d this n,C'ft,..ae any or either are not duly, prcmptly and fully performed, di5ChHged, executed, eifectcJ, completed complie-d WIth and
abided by, then in eithe, 0' any such e"ent, the said agglesate sum mentioned in said prcmisso'y note then lemzining unpaid, wIth interest
accrued, and all moneys secured hereby, sh.lI become due and pa.,.a.b]e forthwith, or the,eafter, at the option of said MORTGAGEE, as ful!y
and completely.. if all of the said sums of money _re orig;nally stipulated to be p.1id on such day, anything in said promissory note or in
this Mort,aie to the contlary not withstandins; and thelOUpon or thereaftel at the option of said MORTGA(',EE, without notice 01 demand,
suit .t law or in equity, may be plOsecuted as if .11 monies secured he<eby had matured priol to its institution.
8. That In the e"ent th.t at the begi:"lning of 01 at any time pending any suit upon this Mortgaae, or to 'oleclose it, Or to leform
it, or to enforc" paymer.t of any claims heleuncle" S1Ild MORTGAGEE sholll apply to the Court having jurisdiction thereof fOI the appointment
of . Recei"..., such CO\lrt shall forthwith awoht a Receivel, of said mortgaged propelty all and singular, including all and singular the
in('(JrlW, profits, issues and ,evenues from whatewr soulce derived, each and e"ery of which, it being expressly understood. is heleby mort,
,aged as if spectifically set forth and described I" the grantln, and habendum cll.uses hereof, and such Receiver sh-111 have all the broad and
effective functions and p<>we's in anywise entrusted by a C~urt to a Receivel, and such appointment-.hall be made by such COUlt as an
admitted equity and a rNItte' of absolute right to said MORTGAGEE, and without .eferen<:e to the adequaCy or inadequaCy of the value of the
~rt)' mortgaged or to the solvency or insol"enc::y of said MORTGACOfl. 01 the delendanrs, and that such lents, ~lolltS, in~omes. iss~
and levenues shall be applied by such Receiver according to the lien 01 equity of laid MORTGAGEE and the practice of such Court,
9. To duly, p'omptly M1d fully perform, discnarge, execute. effect, complete comply with and abide by each and every the stipu.
lations, .sreements, conditions .nd co"enants in said p,omissory note and in this mortgage set forth,
10. TNt In the event the ownership of the mort,aged premises, 01 any parf thereof, becomes vested in a pelson other than the
MORTGAGOR, the MORTGAGEE. its successors and assilns, may, without notice to the MORTGAGOR, deal with suc:' successor or SUCC~50lS
in interest with reference to this mortgage and the debt her$y seculed in the same manner as with MOltgagor with0ut in any w'iY "itiattng
or discharging the MortPlor's liability heleunde, or upon the debt hereby secured. No sale 01 the. premises heleby moltgaged and no fore,
bulanca on the part of the MORTGAGE:: ~~ its successors or assip and nO extension of the time fOI the paymen1' of the debt hereby secured
given by the MORTGAGEE or its successors Of assigns, sh.lI OJ)e,ate to release, discha'ge, modify, change 01 effect the original liabiiity of
the MORTGAGOR herein, aithe, in whole or In part,
11. It is speciflally a.reed th.t time Is of the essence of this cont'Kt and that no waivel 01 any obligation hereundel 01 of the
obli,..tion secured hereby shall at any time thereafter be held to be a waiv., of the telms hereof o. of the instlument secured hereby.
IN WITNESS WHEREOF, the said MORTGAGOR has ner--oto set his hand and seal the day and year fi.st alolesaid,
SlIJ*l. SNIed and deli....'ed in presence of:
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(SEAl!
(SEAl!
STATE OF FLORIDA
Indian River
COUNTY OCn..___.'_'n __uu,
.J...Q\.liseT...CreaIl).er, unmarried
aM
Before me personally appeared
___'____n' __mm.n___n.__ ___u_m_ . __ U'_ ....., __ ______ ,'un his wife, to me well known, and known to me to be the indivicluals described in
and who executed the foretoIn, Instrument, and acknowledpd before me th.t they executed the same for the purposes tnere;n expressed,
WITNESS rFI/' h.nd and oHiclal HIli this on~. '.~,
, day of
M~n.~h __. , . , ^- 0, 1961
:~~,
Notary PuI;llc In arod fOI the Stall' Clf FIOfida at Lalse,
My commlsalon expires: ~ _ I i' _ to ;1,
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