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Home My WebLink About2775 3. To place and continuou~ly keep on the buCJings now or hereafrer s~t~ate on so~d land and on a1~ eq~ipment an~ pe¦sonally corered by lh~s mo. sgA. With all premiumf Iherton pa~d in full, 1.re insurancc ~n Ihe us~af sta~~.srd po%~cy fonn, in e s.:m aHprovrd b~ thr h1uR~.,-~ii'tE, enJ w~ ~Js~u ~ns~ranc~ in the u~~al ~Undard pol~ty fwm, a sum approved by ~he MORiGAvEE, in sucA compa~~y or can~~an,es aa ~I~e fdORi'vAGEE m d~rect; ~nd all fir~ and w~ndetorm insurance po~~c~ef on any of seid bui~d~ngs, any intere~t ~herein ~r par~ theieol, in the ag9~rgo•e s.,~~~ a'acs~:d i~ e~ecess thereof, shail contain the usuai standard morrgagee uauae o~ wch other cl~use as the Mortgsgee may rrqu.re, ma?~ng the ~oss w~dr~ s.~.J po c:es, each and every, payablt to faid MORTGAGEE as i~s interesl may appear, and each and every auch poi~cy s~~ail be promptty asi g~~rai a~•d de.+~~•~ed ?ny held by ia~d MORfGAGEE ~s further secu~ity to said morlgage deb~, a~~d, not less ~han ten ~10) days in ad:a~~ce o1 the exp~~a~~on of each po:.cr, ro d~ Gver to ~aid MORiGAGEE a renecial thereof, toge~her with ~ ~ece~p~ for tlx prem:um o) such renena~; a~~d fhrre sha:l be ~w 1.~e or w:~:~v~ ,n Ins„ranc plaeed on s~y of ~a~d build~ngs, any interest therein w par~ ?herroi, ur,IE~s in ~he (orm e~~d vv~~h tf,e ~oas payab!e as aforesa~d; and in the e.am a~~y s~n of mw~ey becomes payable unde~ such polity or poGcies said MOR'GAGEE eh:,lt have ~he oNt,on ro rec_~:e and app~~ the ume on acco~~~ of thr inJ_irt~•d ness sec~red hereby w 1o permit sa~d MORTGAGORS 1o receive and u~e it p eny p..rt th.~:caf tor or~~• r ~,u~; oses. .v~fno.;t th u~ .o:~.~ ~ ~ irr~ any equity, iien o~ iighl under or by virtus of Ihis mo:'gage; and in the eveM sa:d MORTGAGOR$ shall !or any reason fail to krep tl~e sa~d ~,~e~n~s_•s so insured, o~ fail lo deliver promptly any of said poLciet of insurance to sa~d MORTGAGEE, or fa~: p:umNtly io pay fu~ty any ~r~•:~,~v~n ther~for o~ in a~y respect fail to pe~forrn, d+xharge, eaetuta, effect, comp~ete, comply with and abide by this COVC~1d:11, O~ any parl h~~eoi, sa~d htVR7GAGEE may p~ace a o pay fw tuch insurance or any pan thereo( w~~hout waiving w. iffectirtg any ophon, lien, eq~ny, or nght ~~ide~ or by v~rtue of fhis Mosrgage, ard thc 1~~t1 amovm of each and every such paymem shall be immediately due and p+yable and shall bear interest from tha da~e ~hereof u~~nl p.;~d at ~he ra~e o1 nme per centum per annum and to~ether with such i~verost shaVi be secured by the lien of ~h~s mortgage. 4. To permtt, commit or suffer no waste, impairment w deterioration of sa~d p.operiy or any part thereof. 5. To pay all and singulsr the costs, chargcs and expenses, ~nctuding a reasonabte at~orney's fee and coars of abstract; of title, inc~rred or pa~d at any time by said MORiGAGfE, becavse w in the event of the failure on the pa~~ of the said MORiGAGOR to duty, p~o~nptly and f~lly pe:for~n, d~~charge execute, efiect, tomplete, comply w~th and ab:dr by each and every the Stipuldl~Oni, agreCmCN1, cond~t~ons, and covenanta of aa~d pro:n~ssory nore e~~d th~~ mortgage any w either, and s~~d costs, charges and expenses, esch and every, shall be immnd~ately dve and payable; whether or not there be not~ce d~ mand, attempt to cotlect w suit pend~ng; and rhe full amount of each and cvery such paymem shall bea. interest from the date thereof untif pa~d at ~he r.~te o~ n~ne pe~ centum per annurn; an~ all said costs, cnarges and expenses incurred w paid, together w~th such interest, shall be secured by the I~en o1 th~~ mo~tyaye. 6. That (a) in the evenf of any breach of this Mortgage or defau!t on 1FK part of the MORTGAGOR, or (b) in the event any of sa:d sums of money herein referred Io be not pranpNy and fully paid wiihin th~rty ~301 days next atter the same se~era~ty become due and payable, wittwut demand or notice, or (c) in the event each and ove~y the stiputations, agreements, conditions and covenants of sa,a promissory note and th;s mortgage any or e~the~ are no1 ~uly, promptly and fully performed, d~scharged, executed, efiected, completed, complied with and ah~ded Sy, then in e~ther w any such evenl the sa~d ag gregare sum mentioned in said promisswy note then remaining unpaid, with iniere» accrued, and ait moneys secured hereby, shall become due and pay able (uthwith, u thereafter, at the opr~on of said Mt~RTGAGEE, as fully end completelr as if a~l of the sa~d wms of money were or~gmaily s~~pviatcd ~o be pa~d on such day, anything in sa~d prom~ssory note or in this Vlortgage to the conrrary not.vithatand~ng; and thereupon or thereal~er a~ the up~~on of sa~d MORTGAGEE, without ~ot~ce o~ demand, suit at law o~ in equ~ty, therefore or thereaiter begun, may be prosecWed as if aIl moneys secured hereby nad mat~red pr~or to Js inst~tuhon. 7. That in the event that at the beginning of or at any time pendirg any suif upon this Mortgage, or to fo~eclose it, or.to reform i~, or to enfo.ce payment of any claims hereunder, said MORTGAGEE shall apply to the Court having ~urisd~ction thereot fe~ ~he apNO~ntment of a Rece~ver, svch Covrr shail forthwith appo~nt a receiver of said mortgaged property all and sing~~er, iodud~ng atl and s~..gu~ar the income, prof~ts, issues and revenues lrom whate~er source derived, each and every of wh~ch, it being expressly undersrood, is hereby mor~gaged as if speof~celly aet fwth and dexnbed in tt~e ~rannny a~d habendum da~ses her~of, and s~~ch Receiver shali have all the b~oad and eftecrive f~ncr,o~s and {>owers in anyw~se emr~sted by a Cowt to a Rccei~er, a~~d s..ch appoi:ftment shaN be made by such Co~~t as an ad:nitted equity and a mat~er o1 absoiute right to said MORTGAGEE, and w~thout ~e(ere~~ce to the adequaey or inadequacy of the value of the properry mo~tgaged or to the smvency or msotvency of said MORiGAGOR or the de4endams, a~~d ~hat s~ch r~nts, profits, incane, issues and revenues shall tx applied by such Receivei accord~ng to the lien or equity of said MORTGAGEE and the pract;ce of such CouA. 8. To duly, p?omptly and fully pe~form, discharge, e:ec~te, effect, complete, compty with and abide by each and every the st~pulations, agreements, conditions and tovenanta ~n sa~d promisswy note and this martgage set iwth. 9. That in the event the ownership of the mortgaged prem~ses, or any part the~eof, becomes vested in a person other than the MORTGAGOR, the 4•ORTGAGEE, its successo~s and asaigns, may, wi!hout notice to 1he MORTGAOR, deal wrth such successor or s~ccessor in iMerest wit!~ refere~ce to lhis rrortgage and tF+e debt hereby secured in the same manncr as with AAartgagor without in any way vifiating o? d~xharging Ihe Mortgagors' liability herc- urder or upw~ the debt hereby secured. No sale of tF~e p~em~ses hereby rnortgaged and no fcrbearante on the part oi the 1AORTGAGfE or its su[cessors er ass~gns and no extension of the time for the payment of the debt hereby secu~ed given by ~he MORTGAGEE or its successors or ass:gns, shall operate ro release, d~uharge, modify change or affed the orig,nal liab~lity of the MORTGAGOR here~n, either in whole or in part. 10. It is speuficatly agreed that time is of tF.e essence of this contract and that no waiver of any ob~~gat~on hereunder or of the obligation se- c~~ed hereby aha11 at any time thereafier be held to be a waiver oi the terms hereof or oE the instrument secured herby. 11. In add.tion to the forego ng mcmh!y paym~nrs of princ pai and interest requ~red by the prom;sscry no!e sec~red hercb~, mortga~or covenants j-,d agrees to pay to mo:tgagee with eath monthiy pay~,,ent an add~rional sum est~n,ated by morrgagee to be equal to 1; 12 of the annval cest of the fotio.v- k E A-All real property ta:es tevied or assessed agai~st the above dcscribcd real estare. ~ B-Premiums on fue and windsto:m insurance as here+n requ~red to be carried on the ~mprovemeits rtvate on the above d.scribed premises. ~ C-Premiums on wch mort a e ua~ant insurar,ce as mort a pr shall from t~me to f~me deem fit ro carr on the loan secured hereb i 49 9 Y 9 9- Y ~ Morigagee shail from time to time notify mortgagor in writ~ng of the amo~~t due and payable he~eunder and s~ch s~rn shalt thcreupon be due and : 3yable on the due date of the next month!y payment and each successive rronth thereafter urnil mortgagee shall notify mortgayor of a change in wch ~ ,~,ount_ 5uch sums sF.ail be appiied by mortgagee toward the paymem of real property taxes, insurance prem:~ms, a,id mortgage guaranfy insurance i ;+-emiumi. ~ IN Y~ITNESS WHEREOF, the said MORTGAGOR has hereunto set his ha+,d and seal the day and year first aioresaid. s ~ Signed, Sealed and del' ed in t e p~esence of: ~ ~ (Seaq ~ y . OW71 S (Seal) ~ 1 (Seap ~ - r ra . wn ~ - - (Seaq r ~ SiATE OF FLORIDA ~ St. Lucie ~ ~ COUNTY OF Befwe me a.~o~suy appeared Bobby C. Downs a~ Ba rba r~ C. DOW17 5 his wiie, to me weil known and known to me to be ~ the individuals described in and who executed the foregoirg instrument, and acknowledged befwe me that they e~eecuted the ~ame for the purposes ~ therein expressed. And the said Ea rba ra C. ~OVPi~ S ~ rvife of the sa~d Bobby C. COWTI S upon a separate and private e,am~nnt~on by me taken separate and apart from her said husband, acknowledged to and beiore me that she executed said instrument'frtilF*,~ volvo- ~ rarily and w~thout any compulsion, constraint, spprehens~on,nufear of w from her said husband. _ , ~ `s WITNESS my hand and offic~al seal this_ - day of ' F ruar D. 19.:..T~_ ~ % - ' . . . Notary ublic in and i the S af~ of; Flwida ~t Large .~r - ~ My Comm~ssion expires. - aerurn To: v. - ~ ~ , ~ ~'1 ~ ~ First federal Savings 3 loan Associaron " - ' ~ t Of furt P,erce. ~ ^ ',~"j i LEO AND RECOROE~ ' t• ` : fo~t Fierce, Florida ' •,~4'•. ;_t a~.~uc~E couNYY F~ • aocEa ~c~TR?S ~ CLERK Ct~t~U1T COURT ~ ` ~ - RECORO VER~~tE~~- This Instrument Prepared By Johfl W. Coll ins FEB Z~I 2 34 PN ~7~ ~ ~ First Federal Savings & loan Association ~ of Fort Pierca Flo rida $~i 2%~~422 Checked By ~ ~ ~y 8~aK1y9 ~~E2774 ~ - - _ _ _ - _ ~ -