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3. To plact and ca+tinuou~ly keep o~ the buildinys now a M~ssfta situat~ on said land ~nd on aIl equtpment and penonally covered by lhis mortg- `
p~, with etl premiums thereon pa~d in full, fire insurance i~ ~ht u~wl standud policy form. in a~um approvcd by Ihe MORiGAGEE, and windstwm
insurance in ~he ~swl standard po~~cy fam, i~ ~ sum app~oved by the MORTGAGEE, i~ wch compa~y o~ companies aa the MORTGAGEE may
direclt and all fire and windstorm insurance po~~cles on any of uid buildi~gL anY interest tMrein or part thereof, in the aggregate ~um afacsa~d or
in ~xc~sf thereoi, shsll contain ths usual iiandard mortga9ee claus~ o~ such mha cl~use ai the Mo~tqagee may require, making the loss undcr ~a~d pol~
cies, exh and every, payable to said MORTGAGEE as in intereit may +ppsar, and each ar+d ev~~y tuch policy shall bs promp~ly ass~gned and delivered to
~ny held by said MORTGAGEE as further secu~ity to said mwtpaQ~ debt, s~d, not leu 1Mn tan (10) dsys in advance oi the expiration of each polity. to da
liv~? to uid A10RTGAGEE a ranewal thereof, toyether with a receipt fw the premivm of tuch renewal; and there shall be no f~re or windstorm insurance
pl~c~d on any of said buildings, any interest ther~in w part 1he~eof. unleu in ths form snd with Ihe loss payabft as aforesaid; and in the event any ~um
of money becornes payable under such policy or pol~cies said MORTGAGEE shall Mw the opt~on to receive and apply the same a? accounl of the irxkbted-
nest setured haeby w to pe~mit said MORTGAGORS to rcteive and use it q any part thereof fa othcr pur~,oses, wlthout th:reb/ waivi~ig or impair-
irq any eqv~ry, lien w rght under w by v'utus of this mor!page; and in the event uid MORTGAGORS shall fw any reason fail to keep the ~aid premises so
iniured, o? fatl ro deliver p~omptly any of iaid policies of insurance to said MORTGAGEE, o~ fail promptly to pay {ully any p~e~nium ~herefa w in any •
respect fail to perfam, dixharge, execute, eFfect, complete, comply with and abide by this mvenant, w any pa~t hereof, said MORTGAGEE may place snd !
pay for such insurante or any part thereof without waiving or af(ecting any optwn, lien, equity, w right unde+ or by virtue of this Mortgage, and the
full amount of each and every suth payment ihall be immediately due and payable and shall besr i~terest irom ~he date Ihereof until paid at the rate of
nins per centum per annum and together with such interest shall be secured by the lie~ of this mortgsge.
1. To pe~mit, commit or suffer no waste, impairment w deterioration of uid property w any pa~1 tF~ereof. ~
5. To pay alt and singular the costs, chuges and expenses, including a reasonable attaney i fee and costs of abst~acts o( title, incurred w pa~d at
any time by said MORTGAGfE, because a in the event of Ihe failure a+ the pa~t of ~1~e said MORTGAGOR to duly, promptly and fully perfwm, d~uharge,
execute, effec~, complete, tomply w~th and abide by each a~d every the stip~lations, agreements, conditions, and covenants of said p~omisw?y note and ih;s ~
mortgage any or either, and said costs, chsrges and expenses, each and every, shall be immediately due and payab:e; whether or not the~e be no~ice de-
msnd, attempl to collect a suit pending; and the ful~ smount of eath and every such payment shall bea~ inferest from the date thereof until paid at the
.ate of nine per centum per annum; and all sa7d costs, charges and expe~ses inc~rred or paid, together w~th such interest, shall be secured by the lien of this
mwtp+~.
Q That (s) in the event of any bresch of this Mortgage w default on the part of the MORTGAGOR, o? (b) in ~he event any oi said s~ms of money
herein referred to be ~ot promptly and tully paid within thirty (30) days next after the same severally become dve and payable, without demand or notice,
or (c) in the evem each and every the stipulations, agreements, conditions and covenants of sa:d promissory note and thls mortgage any w either are not ;
~uly, p?anptty and fully perfwmed, dixharged, executed, effected, completed, complied with and ab~ded `~y, then in e~tF~er or any such eveM the said ag ?
pregate sum mcntioned in said promissory note then remaining unpaid, with i~?erest acuued, a~d all moneys secured hereby, shatl become due and pay- ~
sble forthwilh, tx thtrealter, at the op!ion of said MORTGAGEE, as f~lly and completely as if all of the said sums of money were aiginally stipulated
to be paid on s~th day, anything in said promissory note or in tnia Mwtgage to the contrary notwithstanding; and thereupon w thereafte~ at the option of ~
taid MORTGAGEE, without nofice or demand, suit at law a in eqvity, therefwe or thereafter begun, may be prosecuted as if all moneys setured hereby ~
had marured pr~w ro~n ins~irutan.
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7. Tha~ in the event that at the begin~ing of or at any time pc~dirg any suit upon this Mortgage, or to fweclose if, w to reform it, or to enforce
o~,r,:.: ::-t '
~yf~lOOf Of i11y cia~ms nereunder, Sdi~ JY1VKiV%aUCC SnOit appiy iu ii~r i.4v~i e`~dviiy jvi~SU'~iiivi~ ti.2i2'vi iw 4~.c _ ~ ~s y ov~:~~ ~
1~ ~~.N ~I.~II
forthwith appant a receiver of said mortgaged property all and singula~, includ~ng all and singular the income, profits, issues and revenues from whatever
wurce der~ved, each and every of whrch, i~ being expressly understood, is Fxreby mor~gaged as if spec~lically set fwth and described in the granting and
habendum clavacs hereof, and such Receiver shall have all the broad and effective funct~ons and powers in anywise entrusted by a Court to a Receiver, and
such appointment shall be made by svch Court as an admitted equity and a mat~er of absotute right to said MORTGAGEE, and without reference to the
adequaq w inadequacy of the value of 1he property mortgaged or to the solvency or insotvency of said MORTGAGOR or the defendants, and Ihat such
rents, profits, income, issues and revmues shall be applied by such Receiver xcwding to the lien or equity of said MORTGAGEE and the practice of such ;
CouA. ~
8. To duly, prompity and fully pe?form, discharge, execute, effctt, complete, comply with and abtde by each and QYNy tF1C stipulat:ons, agreements, •
conditans and covenants ~n said promisso?y note and this mortgage set for~h_ ~
9. That in the event the ownership of the mortgaged premises, o~ any part thereof, becanes vested in a person ofher than the MORTGAGOR, the
MORTGAGEE, its successors and auigns, may, without notice to the MORTGAOR, deal with such successa or successor in interest with ~eference to this
mortgage ar+d the debt hereby secured in the same manner as with Nlortgagor without in any way vitiating or dixharging the' Mortgagori liability here- +
under or upon the debt hereby secured. No sale of the premixs hereby mortgaged and no forbearar+ce o~ the part of the MORiGAGEE or its successors
w auigro and no extension of the time fw the payment of the debt hereby secured given by the MORTGAGE~ or its successws w auigns, shall operate
1o release, discharge, modify change w affect the original liab~lity of the MORiGAGOR kerein, either in who:e or in part.
10. It is speufical{y agreed thst time is of the essence of this contract and thst no waiver of any obligat~on hereunder or of the obligatan st
cured t+ereby shatl at any time thereaher be F~eld to be a waiver of the terms hereof w of the instrumem secured herby.
11. In additio~ to the Forego:ng monthly payments of princ:paf and interest required by tfie prom~ssory note secwed hereby, morfgagor covenants
and agrees to pay to mortgagee with each monthly payment an addirional sum estimated by mortgagee to be equal to 1/12 of the annual cost of the follow-
i~:
A-All real property taxes levied w assessed against the ~above describcd real esfate.
B-Premiums on fire and windstorm insurance as here:~ reqo~red to be wrried on the improvements situate on the above described premises. ~
C-Premiums on such mwtgage guaranty inwrance as mortgagee shall from t~me to time deun fit to carry on the ban zecured hereby.
~ Mortgagee shall from time to time ootify mortgagor in writing of the amount due and payable hereunder and such suT shall thereupon be due and
payable on the due date of the ne:t monthly payment and each successive month thereafter ur.til mortgagee shall notify mortgagor of a change in such
amount. Such sums sF.a;i be applied by mortgagee toward the paymenf of real property taxes, insurance prem:~ms, and mortgage guaranty insurance
premiums_
IN WITNESS YJHEREOF, the said MOR AGOR has hereunto set his hand and seal the day and y~ar first a(oresaid.
Sig , Seakd and eliv r ~n h presence of:
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aq
rsNn
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STATE Of FLORIDA ~
S?. LUCIfi
courm oF
Before me personally appeared Keith L. UAde1NOOd :
M rna L. Underwood ~
y his wife, to me well known and krawn to me fo be t
the individuals described in and who executed the fwegoiny instrument, and acknowledged before me that they executed the same for the purposes ~
~herein expressed. And the ~~d Myzna L. Underaood i
wife of the said Keith L. Underrrood vpon a separale and priv~te
examinaYwn by me taken separate and apart from her ssid husband, scknowlcdged to and befwe me that she executed said instrume»t freely and volun~ j
tarily and without sny compulsan, constraint, apprehension, ~r fesr of w from her said husband. '
WITNESS my hand and official ual thi= day of Januar :q, D, 19 7O
[~,[.~,3„~~.ys.l~ ~~hi~~'~~
Notary Publ'K in and fw the St~te ~df ibrida~a~ Larp? . t.
My Commiuan expires: _ - ~ : - ~
Return Tw. _
~nt Federal sa~~~ys s toa~ ~soc~ata~ F{~ED ~ND RECORDE~ ' : ~ = -
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of Fort P~erce. L~C1~ COU~TY F.L~1., .
fort Pierce. Florida r; ; r~~ ^ ~ C . . , • ~ • ~
- - - - - . `...:188169~ . • ~
This Instrument Prepared By Richa?=d K. Kayes ~ S~ L1'~'1 J ~ 2
First Federal Savings b Loan Association ~ E:e-G~`,`'"'
of Fort Pierce, Florida '
~ 017R.'.S ~ :
Checked By ~ ,:_~RK ~~'RLI:IT COURT :
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OR ~ ~
~ _ BOOK 1~~ PAGE ~55 ( ~
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