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3. To place and continuously keep on tM build~nyi ~ow w hereaf~K u1wt~ on said land ~nd w+ afl equipment and person+lly covered by this mwt¢ ~
sga, with all premiu~n~ ~hereon pa~d in futl, fi~e insurance in the usual ~unda~d policy fam, in • ium approved by ~he MORLGAGEE, and windi~orm ;
ins~~ence in ~he usual irandard pol~cy fam, in • ium appro~ed by ~M MORTGAGEE, in iuch company a companies ~t the MORTGAGEE may {
di~Ktj sr+d all (irs snd w~nda~orm inwrance pO~iCiN on any of ssid build~nps, ~ny inters~t 1he~ein ot part thereo(, in the aggregats sum ~fores+id or ~
i~ excess thereof, ?hall contain ths usual standard moctga~ee clause a tuch oti~sr clauss at tM Mortfl~gee mry roQ~irs, makiny tF+e ~oas under sa~d po1i~ i
cies, esch a~+d avery, p~Yable to said MORTGAGEE ~s its interest may appea~, and cath and every such policy shatl be promptly ass:9ned and delivered to
any heM by said MORTGAGEE ss further security to said matga9e debt, ~nd, ~ot leu IMn ten (10) days in advance of the expiration of each polity, to da
liver to said MORTGAGEE t renewal thereof, to9ether wilh a receipt for the p~emium of tuch re~awal; and there shall be no f~re or windsto~m insurance
pl~ced on a~y of said bui~dings, any i~terest therein or part thereof. ~nless in the form and with ths losi payable as sforeseid; and in the evenl a~y sum
of money becomes payable under such polity or policies said MORTGAGEE shall havs the option to receive and apply the same on accounl oi the indeb~ed~
neu secured hereby w ro permit said MORTGAGORS to reteive and us~ it a any pa~1 thereof fw other purposes, .vitMut ~hxreb~ waivi,ig or ~mpair-
inp any equity, lien or right under w by virtus of this mo:lgsye; and io the event said MORTGAGORS shall for a~y reason fail to keep tl+e said premius so
insured, w fail fo deliver promptly any of said policies of insuroncs to said MORTGAGEE, a fail promptly to pay fully any premium therefor a in any
respect fail ro perform, discharge, executs, effecf, complete, comply with and sbids by this covenant, a any part hereof, said MORTGAGEE may pl~ce and
pay fw suth insurance w any paA thereof without waivinp or affecting any option, lien, equity, or right unde? a by virfue of this Mwtqage, and the
full amount of each and every such payment snall ba immediately dve a~d payable and shall bear interes~ from the date thereof until paid af the ra~e of
nine pe~ centum per annum and to~ethe~ with such interest sha~! be secu~ed by the lien of this mort9age.
4. To permit, commit or suffer no waste, impairment w deteraration of said property ot any part thereof.
5. To pay all a~d singul~r the costs, charges +nd expenses, i~cludinp s reasonatile attorney i fee and costs of abs~racts of title, incurred or paid at +
a~y time by said MORTGAGEE, because or in the event of the failure on the part of the said MORTGAGOR to duly, promptly and fully perform, d~scharge,
2EEGYtQ~ C~tKi~ CO~n .!i!. CWn i w~ii~ biw' eu.~:c v' co u e:.v -.^-:e ' v_r.:r~g n! n~a~! ~:ar..$::o:~ AnJ SI•eS
P' P I 7 c,.:. ~ -r--.••-'••'• . ~ . .
mwtgage any or ei~her, and sa~d costs, chs~ges and expenses, each and every, shall be immediately due^and payabte; whether o~'not ~here be not~ce do- ?
mand, at~empt to colled w suit pend~ngj and the full amount of each and every such paynunt shall bea? interest from the da~e tFxreof until paid al the
rate of n1~e per centum per arnium; and all said costs, tharges and expensea incvrred or paid, toge~her w~th such imerest, shall be secured by the lien of this
mortgaye.
6. Thal (a) Ifl tFM lYM1 of any breach of this Matgage w default on the part of the MORTGAGOR, or (b) in the eve~t a~y of sa;d svms of mor+ey
herein referred to 1x no! pranptly and fully paid within thirty (30) days nexf after the same severally become due and payabte, without demand or notice, :
or (c) in the event each and every the stipulations, agreements, conditio~s and covenants of u~d promissory note and th~s mortgage any a either a~e not
~uly, promptly and fully pertwmed, d~xharged, executed, eifected, mmpleted, complied w~th a~d ab~ded by, then in e~ther w any such evem the sa~d ag
gregate sum mentioned in said promissory note then remaining unpaid, with inte?est accr~ed, and all moneys setured hereby, shall betome due and pay-
able forthwith, or thereafter, at the option of said MORTGAGEE, as fully and completely as if all of the said sums of mo~ey were originally st~pulated
to be paid on such day, anything in sa:d promiuory note a in this Mortgage to the cw+:rary notwithstanding; and thereupo~ w thereafter at the option of
said MORTGAGEE, withoW notice or demand, ~uit at law or in equity, therefore w thereaiter begun, may be prosecuttd as if all moneyi tecured hereby
had matured pnor to its institution. ~
7. That in the event that at the beginning of or st any time pending any tuit upan this Mwtgage, or to foreclox it, a to reform it, or to enfwce
payment of any claims hereunder, said MORTGAGEE shall apply to the Court having jurisdiction thereof tor 1he appointment of a Receiver, such Court shall
Fo~thwith appoint a receiver of said mortgaged prooerty all and singular, includ~ng all and singula~ the income, profits, issues and reven~es from whatever j
:ource derived, each and every of whrch, it being expressly vnderseood, is he~eby mortgaged u if spec;iically set forth and desuibed in ihe granting and
habendum tlavses hereof, and such Receiver shall have all the txoad and effective funct~ons and powers in anywise entrusted by a Cou~t to a Receiver, and
such appointment shall be made by svch Court as an admitted equity arul a matter of absolute right to uid MORTGAGEE, and withouf reference 1o the
adequaty w inadeqvacy of the vslue of the proptrty mortgaged or to the sotvency or insolvency of said MORTGAGOR a the defendann, and that such
;ents, profits, incane, issves and revenues shall be applied by such Receiver according to the lien or equity oi said MORTGAGEE and fhe practice of such
Court.
8. To d~ly, promptly and futly perform, discha~ge, execute, effect, complete, comply with and abide by each and every the stipulatio~s, agreements, ~
conditions and covenants in said promissory note and this mortgage set forth. i
9. That in the event the ownenhip of the mortgaged premises, or sny part thereof, becomes vested in a persa? other than the MORTGAGOR, ths
MORTGAGEE, its successws and auigns, may, without notice to the MORTGAOR, deal with s~~ch successw or successor in interest with reference to this
mortgage s~d the debt hereby secured in the same manner as with Nbrtgago? without in any way vitiating O? dixhargin~ the Mortgagors' liability herr
under or upon the debt hereby secwed. No sal~ of the prem~ses hereby mortgsged and no forbesrance on the paA of the MORTGAGEE w its successon
or auigns and no exter.sion of the time fw the payment of the debt hereby secured given by the MORTGAGEf or its svcce:sors a au~gns, shall opera~e
to rekase, d~uharge, modify change w affecS the originat IiabiGry of the MORTGAGOR herein, either in whok w in part.
10. It is speufically agreed that time is of the essence of this contract and that no waiver of any obligation hereunder or of the obligation tr ;
cvred hereby shall at any time thereafter be held to be a waiver of the terms hereoi a af the instrurrKnt secured herby.
11. In add:tion to the forego:~g monthty payments of princ:psl and interest required by the prom~ssory no!e secured he~eby, mortgagar covenants
and agrees to pay to mo:tgagee with each monthly payrnent an addirional sum estimated by mortgagee to be equal to 1/12 of the annual cast of the follow-
i i~9: •
~ A-AII real property taxes levied w assessed agai~st the above described real esfata
! B-Frem~ums on fire and windstw.m insurar.ce as Aerein requ~red to be carried on the improvements situate on the above described premises.
F C-Premiums on such mortgage guaranty insurance as mortgagee shall from t~me to time deem fit to carry on the loan secured Ixreby.
; Mortgagee shall from time to time notify mwtgagor in writing of the amount due and payable hcreunde~ and such sum shall thereupon be due and
€ payable on the due date of the next monthly payment and each successive month thereafter urtil mortgagee shal~ notify mortgagor of a change in wch
amount. Such sums shall be applied by mortgagee toward the payment of real property taxes, insurarxe prem.ums, and mwtgage guaranty ins~rance
j Premiums. ~
~ IN WITNE55 WH EOF, th said ~TGAGOR has hereunto set his hand and seal the day and ar firsf aforesaid_
~ Si , Seakd a d d d' e pres of: /fJ ~lj_
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STATE OF FLORIDA ~ ~
~ COUNTY OF ~ ~ i~~ ~
~ Befwe me personally sppeared 111L
i~~~ ~•-r-~ki1~ ~dQ'i/ --J
~ ~~ii~, to me well known and known ro me M be ,
~ the individua~ desuibed in and who exec~ted the fore9oing instrument, end adcnowledged befwe me Ihat executed tt~e wma fw the_ purpwes
therein expressed. .hi.N» wJ ,
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~ ~r~«~i~rw~a~i~w.~+~M~yd.~.~~w..-iw~wi~iwwtiswi,belw~wledge~+e-a~+d~e4s+r~wr~e
~ ~wi . . .w~~pNebw+wwR~C~~sFe~fioerho?~sie~FRr~ban~ ' j ' t
WITNESS my hand and official sesl this ~ day of J~i11i~•? - '•~A. 19~~.
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" - Notary Public in for the State Af fbrida.~at L~rye • L-
' ~~111y Commiuion expires: ~~j ~~I~~'- - ; -
~ rtcrum 70: ~?'3~ ~rQLi~~Q
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~ Fint Federal Sav7r?gs 8 losn Association FI~ED ANO R~••
or Fort P~erce. ~E COUNTY. ~LA:' 1~
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~ sT.T~uc,~~.~! vrR~~ ~o -
s Fort Pierce, Flwida _ ~ .
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~ F 23 P~I ~ 4 ~
~ This Instrument Prepared By j,~~ g~ ~~Q UAx
~ First Federal Savings 8 Loan Association C
a of Fort Pierce~ j~~a ~~~7K;,S
~ i;(';~:. ` i
Checked By CLER;( CIRCI.~T COURT=
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BOOK ~~Z PACf
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