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3. To place and continuously keep on the buildings now or hereafter sirwte on said lend sad on all equipment and personally covered by this mortg-
age wick sll premiums thereon paid in f:,li, firs Inwnnce in Iha usual trorsderd policy f~;,m, in a tc•m tpprnved by the MORTGAGEE, and windstorm
insurence in the usual stendsrd poGc; form, in a sum approved by the MORTGAGEE, in such company or companies es the MORTGAGEE may
direct; end rli fire end windstorm imurancs pclicies on any of raid :sildings, any Interest therein or part thereof, in the •ggregate sum aforesaid or
in excess thereof, shall eontein the uwel t'andmd mortgagee clause or such other clause as tM Mortgagee may regales, making the ions under ta.d poli-
cies, each and every, payable to said MORTGAGEE as its intersst may appear, end each and every such policy shell be promptly /ts.grled and delivered to
any held by said MORTGAGEE as further security t,s said mortgage debt, and, not lets than ten (10) days In advance of the expiration of arch policy, to de-
liver to raid MORTGAGEE a renewal thereof, together wllh a receipt for the premium of such renewal; and there shall b. no fire or windstorm inwrance
placed on any of ssid buildings, any interest therein or part thereof, unless In the form and wish the lost payable at aforesaid; sad in the event say sum
of money becornes payable under such policy or polities said MORTGAGEE shall have the option to receive and apply the same on account of the indebted-
ness secured hereby or to permit said MORTGAGORS to receive and use It w any part thzrrof for other purposes, without therrbJ .,,i.. ~ t c ,:np,l:-
ing any equity, lien or right under w by virtue of 'hit mortgage; and in the event said MORTGAGORS shell for any reason foil to keep the raid premises so
?nsured, or fell to deliver promptly any of aid policies of inwrance to said MORTGAGEE, or (ail promptly to pay fully any prenuum therefor or in any
respect fail to perform, discharge, execute, effect, complete, comply with and abide by this covenant, or any part hereof, said MORTGAGEE may place a~,d
pay for such insurence or any part thereof without weivirsg or affecting any option, lien, equity, or right under or by virtue of this Mortgage, and the
lull amount of each sad every such payment :hail be immediately due and payable and shall bear interest from the date thereof anti! paid et the rate of
Hint per centum per annum and together with such interest shall be secured by the lien of this mortgage.
4. To permit, commit or suffer no wane, impairment or deterioration of said property or any part thereof.
5. To pay ell end singular the costs, charges end expenses, including a reasonahle attorney's fee and costs of abstracts of title, incurred or patd at
any- time by said :ti10RTGAGEE, because or in the event of the failure on the part of the said MORTGAGOR to duly, promptly end fully perform, discharge.
execute, ,ffecr, complete, comply with and abide by each and every the stipulations, agreements, conditions, and covenams of said promissory note end this
mortgage any or either, and said costs, charges and expenses, each and every, shall be immediately due and payable; whether or not there be notice d-
mend, attempt to collect or suit pending; end the full amount of each and every such payment shell bear interest from the dare thereof until paid at the
r.,r of nine per centum Far snn~~m; and all said costs, charges and expenses incurred or paid, together with wch Interest, chats be secured by the lien of this
mot tgage. -
6. That (a) in the event of any breech of this Mortgage or default on the pert of the MORTGAGOR, er (b) in the event any of raid sums of nwney
herein referred to be not promptly and fully paid within thirty (30) days next after the same severally become due and payable, without dema~~d or notice,
or (c) in the event each and every the stipulations, agreercants, conditions and covenants of raid promissory note and this mortgage any or either ere not
-fuly, promptly and fully performed, discharged, executed, effected, completed, complied with and abided by, tf,en in eitF.er or any wch event the said ay-
grcgate sum mentioned in raid promissory note then remaining unpaid, with interest accrued, end all moneys secured hereby, shall become due and pay-
ab:e forthwith, or thereafter, at the option of said MORTGAGEE, es fully and npletely as if all of the said rums of money warp orog~nally stipulated
to be paid on such day, anything in said promissory note Or in this Mortgage to . ~e contrary notwithstanding; and thereupon or thereafter al the option of
said MORTGAGEE, without notice or demand, suit at law a in equity, therefore a thereafter begun, may be prosecuted es if all moneys secured hereby
had matured prior ro its institution.
7. That in tl,e event that at the beginning of or at any time pending any suit upon this Mortgage, or to foreclose it, or to reform it, or to enforce
payment of any claims hereunder, said MORTGAGEE shell apply to the Court having jurisdiction thereof for the appointment of a Receiver, such Court thall
~orthwith appoint a receiver of said mortgaged property all end singular, including all and singular the income, profits, issues and revenues from whatever
source derived, each and every of which, it being expressly understood, is hereby mortgaged at if specifically tat forth end described in the granting and
habendum clauses hereof, and such Receive shall hove all the broad and effective functions end powers in anywise entrusted by a Court to a Receiver, er,d
s~~ch appointment shall be made by such court as an admitted equity end a matter of absolute right to said MORTGAGEE, end witheuf reference to the
adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of said MORtGAGOR or the defendants, and that such
rents, profits, income, issues and revenues shall be applied by such Receiver according to the lien w equity of said MORTGAGEE and the practice of such
Court. ,
8. To duly, promptly and fully perform, discharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements,
conditions and covenants in said promissory note and this mortgage set forth. 1
9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vetted in a person other than the MORTGAGOR, the
A'.ORTGAGEE, its successors and assigns, may, without notice to the MORTGAOR, deal with such successor or successor in interest with reference to this
mortgage and the debt hereby secured in the same manner at with IAortgagor without in any way vitiating or discharging the Mortgagors' liability here-
under or upon the debt hereby secured. No tale of the premises hereby mortgaged end no forbeeranca on the part of the MORTGAGEE or its successors
or assigns and no extension of the time for the payment of the debt hereby secured given by the MORTGAGEE or its svccesters or assigns, :hail operate
to release, discharge, modify change or affect the original liability of the MORTGAGGR hertin, either in whole or in part.
10. It is specifically agreed that time is of the essence of this contract end that no waiver of any obligation hereurwrer or of the obligation -e-
cured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of tfse instrument secured herby.
If. In addition to the foregoing monthly payments of print'pal and interest required by the promissory note secured hereby, mortgagor covenants
and agrees tv pay to mortgagee with Each monthly payment an additional sum estimated by mortgagee to be equal to 112 of the annual cost of the follow-
ing:
A-A:I real property taxes levied or assessed against the above described real estate.
e--Premiums on fire and windstorm insurance as herein required to be carried on the improvements situate on the above described premises.
C-Premiums on such mortgage guaranty insurance as mortgagte shall from time to time deem fit to carry on the loan secured hereby.
hortgagee shall from time to time notify mortgagor in writing of the amount due and payable hereunder and such sum shall thereupon be due and
payable on the due date of the next monthly payment and each successive month thereafter until mortgagee shall notify mortgagor of a change in such
a mount. Such sums shad be applied by mortgagee toward the payment of real property taxes, inwrance premiums, and mortgage guaranty insurance
premiums.
IV ~'JITtlES$ WHEREOF, the said MORTGAGOR has hereunto set His hand and seal the day and year first aforesaid.
i ned, sled an~elivs in h pr Bence of: ~~
Seal)
(SeeO
(Seal)
(Seal)
SATE OF FLORIDA
St. Lucie u-
CGUNTY OF
,, •..; _ end
Befc+re me perwrally appeared t'2'9d Fa AdaM9 - ••~•~
Adams
Doi r S D• his wife, to me well known m¢ krsgwn ~b .Alrfp be
the individuals described in and who executed the foregoing instrument, end acknowledged before ma that they executed the .aarTy''for' the pfhp6s~1,
therein expressed. And the sai~ DoTrris D• tidams ~ ~~ •:•-<- r •'~
Fred F. Adams ~-''~~
wife of the said u@tsn a;wraraZi art~Rrrvat~ r-, -_
examination by me taken separate and apart from her said but and, acknowledged to end before me that she executed said kytrurtstlnf ,free y'y~id vbhxt-: ;!
tartly and without any compuhion, constraint, eppreheruion,~ear of a from her said husband. ~ `~; ~, ~~ ~~ ~ ' G
WITNESS my rend end official seal this- ~~ day of NuVg ,,b/f8r~~ A: b•(~-f-)T~ ~ _-
~~ ~ CJ`. , .r•,, •
Notary Public in and for the Stets of Fbridr,'t,t,' `' . ''
M Commission •xplret•
Return To: c n p{Otery Public, StatO Of FfO~~la at Largs
F!nt Federal Savinyt b Loan Association , ~] ~~ RL~URUL~ @VIy COmmi55i0n Expires Nov- 3,' 1965
1 ILLY $pttdiG by American Suet; CO- Of tv• Y,
Of Fort Pierce. • • F)O(~~(
Fort Pierce, Florida !~ - ~ tUj UU'"`
• 1961 NOV 20 AM I I : 45
-., •' ~t.,~.r j : ' •~ RGGER RO~TRAS, CLEftK
.~-~<.' .~•;:;•:: ~- ~~~~~; S1. LUCK COUNTY, FLO IDA - .
a .~/, • •~I /~
., , .~:
, ,
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