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Home My WebLink About0203 to"", 18 PACfi9S ,,) Q. R: BOJl ST. LUCiE COUNTY. Fl~. 8. Until default in the pcrfonnance of the oovenants and agreemetlu ol dW mortgagt', the l'nortgago~ ~all he entitle..1 to cnlkcl the rents, mue1! and profits from the fl""llAsm ~ deteribed, but in t....JC of il dehullt in em}' of the t>:mns of thll mortgage, 400 the filin~ of. bUt to f~ tbia 01" idlY ctb<< rnortgClgc encumbetillg the within deK~ribed property, the ,\&<lOeillrion shaJl imtne{Hatdy and witb?ut notice be entitled to the appomtmfint of Q R~ of the mortgaged proper~y, ilnd of the fl!lI'Its, illllUN imd profits thtoreol, with the usual poWft" of ~ ill .,r.ch c.aset, :llld such Ra.~ivw ,nay be (.J(Il1tinued m ~l of thl!' ,...ki property untt! the timt' of the toale tben.'lOf tmd<< s\loch ~lorore, and unlil tht- confirmation fit soch ,nil" b\' the- Court 9. If 11 <.'tmvcy-ence "houkl be made by tb8 mortgagors of the premi_ ~rem des<'rihed, 0'- anv part, the.reof, without the written consent of L.\e Association. and without lWUWpticn in regular fonn .>f Jaw oy th~ gral1t~ of the obligution.s to lh., .\s..'WCiation created by Wd prom.I>>ory note and thh ~age, then, lWd in that fivent. and ilt t~ option of the AS-l'ociatitlll. ,.rni without lIotice, a.n sums of nwoc:y secured hereby immedtau,'ly IInd ooncwTMt!y with such ronveyance b<<vme due and pqyP,We and in default. '{be AJsociatJon may deal with IUOCJNISOI'I in intft't'lSt with referMct." to drls mortgage and the debt hereby secured in the 5lUTIe malUM.'1' at with the mortgagon, and may fort-r to ....Jf: 01 may extend time for payment of the debt, secun",l herebv, 01" o~ 11<."t without di.char1ting 01" in any way affecting the liability d the mortgagors hereunder or upon the debt hereby !!eCured. The Association may a1.o deal with the Mortgagon And/or with. s~rt1 in interest with reference to this ml'rtgagt' and the dt.bt. hereby !JeC\.~ by f~ng to sue, exmxling the time for ptym<<lt of the debt, provKiing for different mon."hly payments and/or . diffnent intereSt rate, and by other expfftIlI modificatiooa of the t'Qntl\Oct, without losing any priority tlk- A$JOciaUon hu over other roon:g.~ or lkomors or hoMei"l of any j~ior interf!m in the property St.'C\IJ"l"'d hereby, 10. Tlw.t tn the even~ the prem~ hereby mortgaged, or any p8rt thereof, shall be condemned and taken for public U${" undt"t the power of eminent domain, the Auoclation shaD have the right to demand that an ~.amagt'i awarded for the taking of or damages to said prem~ sluill be paid to the Auoc'.ation, its suc-ceaon or assigns, up ro the amount unpaid on this mortgage and mav be applied upon the payment 9f' payments iast paruble thffeon. 11. It is speci.fbilly a~ that time \!: the essence of this contract and that no wp-iver of lIlIY obligation hereunder or of the obligation !IeCUfed hereby shall at any time ~ bt> held to be a WaMlr of the terms or of the instrumC'!1t secured hereby. 12. If foreclosure proceedinv of any aeoond mortgage or ~ truIt deed or any jlmior lien of any kind should be insti- tuted, the As.-oci2tion may at it! option, im~tely Of" frlClftlafter declare this mortgage and the indebtedness seewed hereby due ~I\t.~ peyable. 13. To the extent ot the lndebtednest of the Mortgagors to the As....odation dtllK.'1'lbed hert"m or se.cured hereby, the Ago. ciatiot? ~ 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 ~bed bere!n which i.~ pew. and (or) 5lItisfied, in whole or in part. out of the pro<.>ee<b of the loan deKribed bemn 01' ~ hereby. and the respective liens of uid mortgages, hem 01 ather C'!1(.."UIl1brance" shall pal::! to and be held by the Ass0ci8tion henrin IU se<::urity for tM indebtednea to the A.nociatioo herem described or hereby secured, to the same e:::tent that it would ha.e been p;eser.red and would have btml p4ue<l to and been Mid by the Awxiation had it been July and regularly assigned. t.ransfened, set ov~ and delivered lmto the Association by sepuate d~ of !l.llignment, l1otwithsbnd- ing Uk' fact that the tame lJUIy he satisfied and c:anceUod of reoor-d, it being the intention uf the parties hereto that the same wfll be satiafied and cancelled of t'eOOf<l by the holden thereof at Of about th<: time of the recording of this mortgage. 14. To pay all and ",gular the costs, chargat, .and expenI'l5 in<+.tdlng lawyer'. fees, reasonably incun~ or paid at any time by the Msoc>iatKm. because of the failure of the Mortgagt;n to perfonn, comply with and abide by ecch and every stipula- tions, R~ts, e<mditioM and covenants of said promilllory note and tbi, deed, or ~ithf'r, and every such payment shaH bear interest from date at the rate stated in the note secured hereby. 15. That bet win permit, commit, or suffer 00 wsste, impairment, or df'ter10111tion (If 8aid property or anv part thereof; and in the event of the failure of the Mortgagon tc> k~ the buildings on Mid premises and these to be erfrled on said premis.u. or improvement. tM-reoo in good repair, the ~tion may make and pay for such repairs ll5 in its di~ion it may deem neces'illry for the proper preeervatior t:h<<ed, and the full lUDOUnt of men pilymenb shall })(l secured by tht! lien of this mortgage and clulU at the option of the A,uociJI.t.ioo be immediately due and payable, or payable in such monthly i.lutallments as the Associa. tio!1 may detennine, and flYet')' such payment shan bear interest from date at the rate stated in the note secured hereby. . 16. ll~t if the JUsociation 2nd the Mortgagors agree, the Mortgagorll ~..ill carry " polky or polides of UuUnu1t'e upon their lives in ail amount eql.l2l from ti.rn6 to time to the amount d inde~ bereby lOlX:ured, making lOaid Anoc:iatlOJl benefi. ciarv thereunder, and that tbe said Association may pay the premi.UlT'..fl fOl" such iIUurllJl~ (in the event the Mort~agon do not). and add eaeb roch payment to tbt>< unpaid 'btUanoo of the loan, lUi of ::he fint rtay of the then current month, and it shall become addibolllll mdebk-dbEU It'>CUCed by this mortgJlge payable upon domand. 17. ThAt in the evEl!'It that this mortgage be given to secure a conmuction loan, failure on the part of the Mortgagors 01' their conlr..cton to compi,ete saM building in 11~ with Construction Loltn Agreement, of even date herewith. or to build said cor-"rouctlun in accordance with plans and spedficatiolu filed with the Al'-wciation. shall constitute Ii bre-ach of this mortg~ge. and. at the option of the Association, L'Dmedintely mature the e'llrn-e aIriOlmt of princ.'ipal and interest hercby secured and th<: :\.<;so. dation may immediately institute proc'OOClings to foreclose tlW mortgage. 18. That the 'l1Jm'a;,.'\" or abstraetJ of title co~lng the m<lrtg2g~ property shsll at aU tlmei, during the life of this mort. gage, remain in the poo.~ of the Association and in the tr..ent of the foreclosure ,;f this mortgage or other tr.msEer of title t,) the n.ortgageci property in extinguishment of the indebl:~ secured hereby, all right, title, Ilnd interest of the Hortgagors in llX.cl to any such !:bs!:racts of tit!e shall pu.'1 to the purc....ser or grante.e. 19. The AJBOCi:ltm shall have the right, in its ditcrOOOll, to require that the MortgagoN puy into the A..$!IO(i!l.tion ill aJdi- tim; tv the mont~ly instal1recnte of principal ~d interest to be paid by the Mortgllgort una",. the note secured. by this mortgage, an <lrYW'lmt equal to one-twelfth of the ann~ !1l8t.allmenUi otl!.Dy taxes on the mortgaged premise... le'\<ied or aasessed bv any governmental Iluthority, !U"..d OIl0-twelhh of the annual ~ums fi1l' Fin>. and ExtendOO Covtrage insurance on the m(l.~gl(gc(l p,~tluJot"~ o\! herei.nbe['.'lI'e require<! by the AJ\socwtior!, and the Mortgagon' failure to make such payments sl..aH constitult' Ii default llllf.kr thi' mortgage, . TN '....'1TNESS 'NHE.REOF, t.bl!: said Mcrtgagill'l'l hereunto :ret their hands and :tfllAU the day and ye~r fint above writlen, ;<;i~r~~~;,\~~~~:~'~d ~1nd d~~~ve~ in 1M p~"!tl{''t: of: ;' j) ~ <t <t!l. o;:J,"VVC /'} /1'\/.. .,Li.-_....... .. .-....-.. /'-"7 '7 ~j"" / / ,. /.i":;;-/ .t;.' '// _ ". /. i ^ /" ", . 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