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Home My WebLink About0662 3. To place and conti~~uousiy keep on ~he bui'd~~gs now or hereaf~er s~t~ete on s~~d la~d and on alt equip~nent and pr~sonally covered by this mar ege, w;th all p~emiuYns thercon pa~d ~n f~ll, iire insurance ~n rha ~sujl a~ar•.d~rd po~icy form, in s sum approved by Ihe MURtGAGEE, a~d w~ndsto ~nsur~nce in the ususl s~andard pol:cy fam, in a su~n approved by ~he MORTGAGEE, in such company or canpamet as the MORTGE?GEf m d~rect; ~nd all fire and w~ndstorm ~~surance po~~ues on any vf sa~d build~ngs, ~ny in~erest thetein or part rhe+eol, in the aggregar@ ~um atoresa~d in extess thereof, shall contain the usual standard mortgagee t~ause o~ such olher cleuse as ths Mwtgagee may requ~~e, makiny the loss under sa~d po c~es, each and every, payab!e to sa~d MORTGAGEE as ~ts ~merest ~~ay appear, and each and every such po~~cy s!~atl be promptly ass g~ed snd del~vered ~ any held by sa~d MORiGAGEE as funher security ro said n:orrgaye deot, and, not teu ~han ten (101 days in advance of the expiration of each poGCy, to d. Gver to said MORTGAGEE a re~xwal thereoi, togeihar wirh a rece~pt 4or ~he premium ol such renewal; and there ihall be no f~re o~ winds~orm insuanc plxed on ~ny of said buildings, any interest there~n or part thereoF, ur~'esa in fhe form and wi~h the loss payable as aforesaid; and in the event any sun of money becomes payable under such policy or po~:cies sa~d h10RTGAGFE afi:~ll have ihe opt~on w rece~ve anJ app!y the aan.e o++ account of the indebted nrss secured hmeby or ro permit said MORTGAGORS ro recerve and uss it w any part ~he:eof for ocnc~ ou~~osrs, w~~hout thz.ror waiv~n3 or unpau in9 any equ+ty, I~en w r:ght under ar by virtue of this mo:!gaye; and in thr evem sa~d MORTGAGORS shall for any reason fail to keep the said premises so insurcd, or fail ro deliver promptly any of said policies of insurance to sa~d MORTGAGEE, w faH promptly ro pay fu~ly any premi~m therefor a io aRy . ~.a ..~.i...... .c..w~...~ „e...~. ~ra..~ ~n..»,~.t.,_ cntnnlv wi~h and ab:ds bv thls coveneM. or anY Pa~~ h~reof, said MGRTGAGEE may p~ace a:~d .':rc: , - . pay fw suchjinsu~ance or any part thereof w~thout waiving or affeuing any optian, lien, equity, or right under w by virtue of this Matgaye, ancl the ~ull amount of each and every such paymrnt shail be immediately due and payable and sha11 bear i~terest (rom the date thereof un~il paid a~ the rate o1 n~ne per cenrum ;xr annum and ro~eihrr v.~fh such intereat shal~ be src~:rd by the tien oi this matgage. 1. io permit, tommit or suffer ~o waate, impairment or deterioration of uid property or any part thereof. 5. To pay all and singul~r the costs, charges and eapenses, ~~xlud~ng a reasonable attorney's fee and co~ts of abstracts of titte, incurred w paid at any time by said MORTGAGfE, because or i~ tlx event of the fa~lure on the Rart of the said MORTGAGOR to du!y, p~ornpt:y snd fvlly pe~form, d~uharge. sxec~te, effetL complete, comply w~th and ab:de by each and every the st~pu~a~,ons, agree~ients, conditions, and covenants of sa~d pro~niswry nore and thi~ .r.ortgage any or eithe?, and u~d costs, charges and expenses, each and every, shall be immediately due and payabte; whether a not there be nonce da mand, attempt to collect w suit pe~ding; and tFu full amount of each and every such payment shafl bea. interes~ from the date thereoi until paid at the re o~ nine per centum per annu:h; and a!I said cosrs, charges and e,c?rnses ~ncurred or paid, togrther wAh such inte~est, shall be secured by the lien of thi~ mottgage. 6. That (a) in the event of any breach of th~s Mo~tgage or default on the part of the MORTGAGOR, or (b) in the event any of sa~d sums of money herein referred to be not p~anptly and fully paid wirhin th~rty ;3J) da,rs na~~ a=rer the same sevxra:ly become d~e and payabfe, wi?hout demand or notice, or (c) in the event each and evrry the stipulations, agreements, conditions and covenants of sa:d promissory note and th~s r.~ortgage any o~ either ere nof iuly, promptly and fully perfwmed, d:scharged, ezecuted, elfeued. complered, compf~ed wi~h and abided Sy, tFxn in e+ther w any such eveM the said sg gregate sum mcntioned in said promisswy nore then remaining unpa~d, with in~eresf accrued, and ail moneys secured hereby, shall become due and pay abie forthwith, w thereafter, at the option of said MOR7GAGEE, as {uily and completely as if all of the said s~ms of money were w~ginally st:putated to be pald on such day, a~ything in sa,d prom~sswy note or in this Mortgagr to the conr~ary notwithstanding; and thereupon w thereatte~ at the opt~o~ of sa:d MORTGAGEE, without norice or demand, su~t at law or in equ~ty, therefore a thereaire~ begun, may be prosecuted as if all moneyt secured hereby nad matu~ed pnor to its mstitut~on. 7. That in the event that at the beginn,ng of or at any time pend~ng any su~t upon this Mortgage, w to fweclou it, or to reform it, or fo enforce payment of any claims hereunder, said MORTGAGEE shall apply to ihe Co~rt having ~ur~sd;ction thereof fer the appo~ntment of a Receiver, such Co+nt shall forrhwi~h appo~~t a receive~ of said mortgaged property all and singular, incl~d ng all and sinqular the income, p~of~ts, issues and reve~ues f~om whatever seurce de~ived, each a~d every of wh:ch, it being exp.ess!y understood. is h.ereoy mortgaged as if apec~fically set forth and descr~bed in the granting and habendum clauses hereof, ar.d such Receiver shaii have all the broad and effective f~ntt.ons and powe:s in anyw~se entrusted by s Cou~t to a Reteivcr, and s:,ch appointment shall be made by such Court as an ad~ni~ted equity and a ma~ter of absoi~te r~ght to sa~d MORTGAGEE, and withoul reference to the edeq~acy or inadequacy of the value of the property mortgaged o~ to the so.vnncy or mso~vency of said MORTGACiOR p ths defendants, and that such renrs, proiits, inco~nr, issves and revenues ahail be appiied by such Receive~ accord,ng to the lien or equity of said /)110RTGAGEE and the practice of such Court. 8. To du~y, promptly and fully periorm, d~scharge, exec~te, effect, comp!ete, con:piy with and ab~de by eath and tvery the st+pulations, agreements, conditans and covenants m sa~d promissory note and th[s mortgage se~ fo:th. 9. That i~ the event the ownership of the mortgaged pren,ises, w any part tnereof, 6ecomes vested in a perwn other than the MORTGAGOR, the h!ORTGAGEE, its successors and ass~gns, may, without noc;ce to the MORiG~.OR, dea! with such successw or successor i~ interest with relerence to this :no.rgage and the debt hereby se:~red in the same manner as with h4o~t~agor witho~t in any way vitiating or dixha.g~ng the Mbrrgagors' liabi~ity herr ,,..a>. .1.e .~e?.~ 1w..1,,, a..f.,....1 tw, aa1P ~i +1,.. .•.....+~a..a i.~.Pt,v mn.enwaw~ ard no (or6earance on the oarl ol the ?AORTGAGEE or its wccessors or ass~gns,and no ex~ension of the time for the payment of the deb~ here6y secured g~ven by the MORTGAGEE or its successws or ass~gns, s~iall operate ro releax, d~scharge, modify change w affect the orig~nal liab,i~~y of ~he MORTGAGOR herein, eitFxr i~ whole or in pa~t. 10. It is speufically agreed that teme is of the essence of th~s contract and that no waiver of any obl~gation hereunder or of the obligaYan sr ; cvred hereby shali at any time thereafter be heSd ro be a waiver of the terma hereof w of the instrument secured herby_ ` 1). In add:no~ to the forego ng momh!y payments of princ pal and +:~rerest requ~red by the prom'swry nore secured hereby, mortgagor eovenants ` 3~,d agrees to pay to mo:tgagee r+ith each mo~thly pay~.~ent an add:~iona~ sum es~:•~ ared by mortgagee ro be equal to 1: 12 of the ann~al cost of the follow- ~ ~,g: ~ A-All real property taxas levi~d or assessed agai•~st th~ above descr;~_~d rral estate. ; B-Premiums on fire and windsrorm ins~~ar.ce as here~n requ;red to be carrted on t~e improvements sitvate on the above described p~emises. C-Premioms on such mortg;ge guaranty ir.sura~.ce as mo~tgagee shail fro:r. t me to t~me deem fit to carry on the loan secured hereby. Mortgagee sha!1 t~om nme to time notify mo.tgagor fn wnt~ng of the a~:oum due and payable hereundrr and such sum sha:t thereupon be due and ~ ; ayable on the due date o4 the next moMh:y payment and each successive month thereafter ur.til mortgagee shall notify mortgagor of a change in such t a^,ouN. Such sums shail be applied by mortgagee toward the payment of reaf properry taxes, insvrance prem:ums, and mortgage guaranty insurance = ~:~emiums. e ~ IN WITNESS LVHEREOF, the said MORTGAGOR has hereunto set his har.d and seal the day and ear first afwesaid ~~"s 5' , Sealed an deiiver n the esence of: ~ ~ al) u ~ ~ y -(Sea4 ~ ~ ' . ~ % Q-s SeaO ~ - enne . (Seap ~ SiATE OF FLORIDA » ~ COUNTY Of St . Lucie 1 ~ Before me personally appeared Robert 5. Padelford s~ ~ C~aenneth D. Padelford his wife, to me well k~own and known to rrx to be the ind;viduals desv~txd in and who executed the foregoing instrument, and acknowledged before me that they executed the same fw the purposes ~ tnerein expressed_ And the said C~venneth D~ Padelford ~ wife of the said RO~lt Padelfozd _ a separafe snd priwte . examinat+on by me taken separate and apart from her said husba~d, acknowledged to and before me that she execu7ed said instrument freely and volum rarily and wAhout any computsion, constraint, apprehe~sion, ot fear of w from her said husband. WITNESS my hand a~d offic~al seal thi~_~~~--- day of_ r A. D. 19 71 ix Natary Public {n and for t ute f Florids at Lar~~ = ' w y My Commission expird: !J ~ ' RNurn To: 'll~~ r • ~ ~s ~ i~.!![~ ~ , ~ First F e dersl Savi n gs b Loan Aswciauon 1~. f~•+ f'~ • . . of Fo~~ P.Er~e. FILED AND RECOROLO~ = , Fo., Pierce. F.o..aa ST, IUCIE COUNTY. FLA: - 3~ ftE COR^ VFRIF~EO : ~ ` ~ ~ - ~ = 2;20509 ~~a _ = - '~v This Instrument Prepared By R~Chazd K. ~ve~Tl OEC 22 P~ ~Z • Z ~ ' =z First Federal Savings & Loan Association ' • - , ~v' of Fort Pierce ~FlOrida ' " - f.= Checked ey - - CLERK CIRCUIT COUR1; f~ `~'oo~ 198 =_~i ~ 6~1 .