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Home My WebLink About0534 r r 3. To ptace and cont~nuously keep on ihe bu~:dings now or herzafter ~~tuate on sa~d land and on ali eq~ipment a~d pe~so~ally cove~ed by this mo~ ege, w~th ali p~rmiurns thareo~ pa d~n iull, fire insura~ue in the usual standard poticy form, in a wm aHp~ored by the MOR~vAGEE, and w~~~dsto ~nsurance in the usual stand~~d po:•cy forrn, in a sum app+oved by the MORTGAGEE, ,in such co~npany or compan~e~ as the MORiGAGEE m d~rect; and all fire and w~ndstorm ~nsurance po~~c~es on any of said buiid~ngs, any interest therein or pa~t thereof, i~ the aggrega~e sum atoresaid in eacess thereof, shall conrain ~ha usual standard mortgagae clause or such other clause as the h\ortyagee may req~•~e, making the ioss under sa~d po ;~es, each and every, pay~b!e to sa:d NpRTGAGEE as ~ts interrst may ap~ear, and each and every such p~~~cy shatl be promptly au gned and de~ivered ~ any held 6y said MORIGAGEE as fur~her security to said newtgage debt, and, not tess than ten (10) daYS in advance oi the exp~rat~on of each policy, to d. Gver to sald A10RTGAGEE a renewaf thereof, toge~her wifh a recelpt fo~ the prem~um of such renewa!; and there shail be no 1~~e or w~ndsto~m insuranc p!aced on sny of said bui!dings, any i~tz~est therein or parl thereof, unless in the form a~d with the loss payabte as aforesaid; and in the event any sun of monry becomes payable v~dcr suth polity or po~icies said MORTGAGEE ahall have ?he opt~on to receive and app!y tlie same on accaunt o1 the indrbted ness sec~~ed hereby or to permit sa~d MORTGAGORS to receive and use it o? any part thr.eal tor ou~~~ pu~~osrs, ~v~~hc~t ~h~r~u~ .ra:.~~3 or ~~np:.~' ~ng any equ~ry, lien or right under or by virtue ot this mo:egage; and in the evenl sa~d MORTGAGORS sha!I tor any reaw~ fail to krep the sa~d p~em~ses so insured, or }ail to delive~ p~wnptly any of said pol~cies of insurance to said MORiGAGEE, or ia~! promptly 1o pay fully any pre~nium therelor a in any ; ~espect fail to perform, dischar9e, execute, effect, complete, comply wi~h and abide by ~his tovenant, or any parl ha~eof, said MOR7GAGEE may piace a~~d ~ pay for suth insurance or any part thrreof without waiving or affecting any optio~, lien, equity, or right under or by virtue of this hlo~tgage, and the • f.,ll amouN of each and every such payment shall be immediately due and payabte and shall bear interesl from tha date ~her~rof until paid a~ the rate ol n~ne per cenrum per annum and ~o~e~her wirh such interest shali be secured by the lien of this mortgage. 1. To permit, commit or sufter no waste, impairment or deterioration ef said property w any part thereof. ~ 5. To pay all and singular the costs, charges and expenses, including a reasonable attorney's iee and costs of abstracts of title, incurred w pa~d at any time by wid MORiGAG:E, because w in the event of the fa~lure on the pait of thtr said MORTGAGOR to duly, promptly and fu~~y perform, d~scha:ge. ~xecute, efiect, complere, compiy w~th ard ab:de by each and every the stipulafions, agreements, conditions, and cove~anrs of said pro:nissory note and this ,,,ortgage any w either, and sa:d costs, charges and expenses, each and every, shall be immedialely due and payable; whethe~ a not there be no~ice da mand, atternpt to coflett or suit pending; and the full amovnt of each and e~ery s~ch payment shal! bear interest fran Ihe date thereof until paid at the ir oi nine per crnivm ps:r an~w~r, ~nd all said cosis, charges and expenses incurred or paid, together ~v~th such iMerest, ahail be secured by the lien of thi~ mortgage. b. That (a) in 1he event of a~y breach oF this Nlortgage or default on tF~ part of the MORTGAGOR, or (b) in the event any of sa:d sums of money herein referred to be not pro~nptty and futly paid within th~rty {30) days next after the same severally become due and payable, withou~ demand or notice, or (c) in thr event each and every the stipulatio~s, agreements, conditions and covenants of sa.d promissory note arxl th~s marlgage any w either are not iuly, prompdy and iul!y performed, d~scharqed, executed, ef}etled, completed, complird with and ab~ded `ay, then in e~ther w any such event the sa~d ag ~regate sum mentioned in sa~d promissory note then remaining unpaid, with inte~est accrued, ar.d atI moneys secured hereby, shall become due and pay . aofe forthwith, or thereafter, at the op!~on of said MORTGAGEE, as fuity and completely as ii all of the said sums of money were originally sGpulated to be paid on wch dey, anything in sa:d prom~sswy note or in this Mortgage to the contra~y notwithstanding; and thrreupon or thereafter at the optfon of said MORTGAGEE, withcut not~ce or demand, su~l at law or in equity, therefore or thereafter begun, may be p~osecuted as if all moneys secured hereby h_d matured pr~w to ds institution. 7. That in the event that at she beginning of or at any time pending any suit upon this Mortgage, w to foreclose it, or to reform it, or to enforce paymenl of any claims he.eunder, said MORTGAGEE shatl apply to the Court having juiisd:aion thereof ior the appoi~tmeN of a Receever, such Cwrt shalt Fcrthwith appoiN a receiver of said mort9aqed property all and singular, intlud~ng a~l and singular the income, p+ofits, issues and reve~ues from whatever s.urce drrived. each and every of wh~ch, it be~ng expressly understood, is hereby mortgaged as if specifically set forth aod deuribrd in the g~anting a~d h36endum dauses hereof, a~d such Receiver shaR have all the broad and effective fun:t.ons and powers in'anywne emrusted by a Court to a Receiver, and s..ch appoirttment ahal: be made by svch Court as an admitted equity and a matter of absolute right to said MORTGAGEE, and wishout reference to the adeq~acy or inadequacy o! the val~e of the property mw~9aged or to the so:vency or insolvency of said MORiGAGOR or the defendants, and that such re~ts, profirs, incane, issues and revenues shaU be applied by such Receiver according to the lien or equity of said MORTGAGEE and the practice oi such Court. ` 8. To duty, prompt;y and fully p~rform, discharge, e~cecute, effect, complete, comply with and abide by each and every the stipulations, agreemenis, y conditions and covenants ~n sa~d prom~ssory note and this mortgage set forth. ~ 9. That in the event the ownership of the mortgaged p~emises, or any part thereof, becomes vested in a person other than the MORTGRGOR, the :'.ORTGAGEE, irs successors and ass~gns, may, without notice to the MORTGAOR, deal with such successo~ or s~ccessor in interest with reference to this n:or~gage and the debt hereby secured in the same manner as with Mortgagor w~tFuut in any way vit:ating or d~scharging the Mortgagors' liability here- ~ under w upon the debt hereby secvred_ No sale of the premises hereby mortgaged and no lorbearance on the part of the IdORTGAGEF or its successors or assigns and no ezrension of the time for the payment of the debt hereby secured given by the MORTGAGEE or ets successws or ass~gns, atiall operate ro release, d~scharge, modify change or affett the orig~nal liability of the MORTGAGOR herein, either in whole or in part. 10. It is spet~fically agreed that time is of the essence of this contract and that no wa+ver of a~y obligat~on hereunder or of the obligation se- c~red hereby sha~l at any time thereafter be he:d to be a waiver of tFle terms hereof or of the instrumeM secured herby. 11. In add:tio~ to the forego ng month!y Fraymsnts of princ"pal and interest req~~red by the prom:ssary nore secured hereby, mortgagor covenanis ,•~d agr.es to pay to mortgayee v~ith each m~nth(y payi: ent an add~rional sum est:mated by mortg.~gee to be eqval to 1; 12 of tfie annual cost of the follow- A-AII real property taz~s lev~:d or assessed agai~st thc aoove describ-d real esrarr. ' B--Pren:~ums on iire ard v~indstorm insurar.ce as he~e~n requ:red to be carried o~ the im;.roveme~ts s~tuate on the above described premises. C-Premiums on such mong>ge guaranty ir.surar.ce as moregagee shatl from t me to time deem fit 1o carry on the loan secured hereby. Atortgagee sh~?1 from teme to time ~orify mortgagor in writing of the anount d~e and payable he~eundrr and such sum shall ihereupon be dve and ~ v;bte on the due dare of the ~ext month!y payment and each successive month thereahe+ ur.til mortgagee shall notify mortgagor of a change in such ` :'.ount. Such sums sh:aii be app!ied by mort9agee toward the paymenf of real property taxes, insurance prem,ums, a~xl morigage guaranty insurance 6 ,~~emiums. IfJ \'~ITNESS WHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and year first~afw aid_ . ce~i~~~~ Signed, Sealed and del' ed in the presence of: ~`E~ AMp A ~Q~ S. I,, V IDE'A t CQ 1~O,T Ori ll6tE CO~lin~ s - ~OCER POITR~~ ~Y' ~ n . n, res~ n ~ ~ _ CLERK C1RCUtT ~011Rt ~ / _ REC6RC VERIFIEQ ~ ~ i5~~ = p~ TF' ~ i , Y F lynn, C re't8:~ _ _ ~.1~ ~ OS i A ~ - r,._,, ~ ~ ~r . ~ _ ; ; _ STATE OF FLORIDA COUNTY OF ST. LUCIE 1 HEREBY CERTIFY, That on this t h day of--_"u 1 Y , A.D. 19_ before me personally appeared -Milton F. Flynn and ~~axY F. Flynn respectively President and Secretary ' , of ~ S. L.'•~ . De~~elopment Co rtio ra t ion a_ r Zo ric'a _ Corporation, to me ~ - known to be the persons described in and who executed the foregoing instrument, and severally acknov~led~ed ing exe- s cution thereof to be their free act and deed as such officers for the uses and pursoses therein me~tipr~e~tf;~en~l''tk~at- tFiey affixed thereto the official seal of said corporation, and the said instrument is the act and dee~:of ~aeid,tocporation. - `NITNESS my hand and official seal at Fort Pierce , said county a state. ~ .'?:.5 1~Strlli~lPf]L arC~~iTC~ LJY • ~ . ~'~hn !v. Collins i ota ublic, in an or St ' irs! '=e~?er:~l 5a~~in=~s anc. Lo~n • N$~, ~~IQ. xt~kRr,E '•ssoci'~tion ~f Fort ?ierc~.~ My ommission Expires: hiY CO'1'~St~~~~~~~ E~;,~~t' 'j7~ ~ B.7'~CtO I`:J G.f. t . TC~ +,...~y, ~ Checked By - 233196 8°ooR w~c~ ~I~ _ _ ,F~~~~r : ~%s,~~.~