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3. To place snd continuously ktep on 1he bui!dings oow a hereafter sltuate on said land arxJ on all equ~p~nent and ptrsa?ally tovered by this mw
age, wi~h all premiums ihercon ps:d in iull, tiro inw~ance in ~hr usual srandard polic/ form, in a sum approved by the MORLGAGEE, a~~d windsto
~nsurance in the usual uandard pul;cy iorm, in a sum approved by rhe MORTGAGEE, i~ sucA company or compan+es at the MORTGAGEE m
d~retr, and aU fi•e and w:ndstorm insurance poGt~es on any of said build~ngs, +ny interes~ therein or pa~t thereof, ;n the aggregate sum aforesaid
in exce:s ~he.eol, sha~l contain ~he usual standard mortgagee clause a such othe~ tlause as the Mortgagee may requ~re, making the tou undrr aa~d po
c~es, each and every, payabte ro ssid MORIGRGEE as rts ~~te~est may appea~, and each ~nd eve.y such po!rcy shall be promptiy ass gned and deGvercd ~
any held by said MOR(GAGEE as funher security to said mortgage debt, and, not less lhan ten (10) days in advance of the expiration of each poficy, to d~
I~ve? to sa~d MORTGAGEE a renewal thereof, together wi~h a rece~pt fa ihe premium of such renewat; and there shall be no f~ra o? wi~~dstorm insura~c
pljced on any oi said buildinys, any in~erest there~n or part thereof, unless ~n ~he form and wi~h the loss payable as aforesaid; and in the event any sun
of money becomes payable under wch policy o~ policies said MORTGAGEE shall have ~he opt~on lo receiYe and appty the same on account of the indabted
n~ss xecured he.eby o~ ro perm~r said MpRTGAGORS ro receive and use it w sny part tAereof lor o:i,cr purpcses, v,~~ho~t tha-.u~ waiving cr unpair
~ng any equ~ty, lien p riyh~ under or by virtue of this mo:tgage; and in the event said MORTGAGORS shall for any reason fail to krep the sa~d premises so
~nsured, or fail ~o dzliver p~omptly any of said pol~cies oF insurance to said MORTGAGEE, w fail promptly to pay fully any premivm therefor or in a~y
~espec~ fail to per(orm, discharge, execute, eifect, tomplete, tomply with and sbide by tfiis covenaM, o~ any part hzreo(, said MORTGAGEE may place a~~d
pay fw such insurance or any part thereo( withouf waiving a aifecting any option, lien, eqvity, or ri~ht undzr or by virtue of /his Mwtgage, and the
f~U a~iwunt of each and e~ery such paymrnt shal! bs immed;ately due and payable and shall bear ir.terest from the date thereof until paid at the ~ata of
n~ne per centum per annum anci to~ather K•ith such inte~esl sha~i be secured by the lien of thit mortgage.
4. To permit; commit or svffer no waste, impairment or deter'aration of said property a any part thereof.
S. To pay all and singufar the costs, charges and expe~ses, including a reasonabte attwney's fee and costs of abstracfs of tiNe, incurred w paid at -
any ei~r.e by said MORiGAGfE, becavse o? i~ tFu event of the failure on the part of the said MORTGAGOR to duly, promptly ~nd fully perform, d~uharge.
e.~~cute, effect, canp:ete, comply w~th and ab~de by each and every the stipulations, agreemenfs, cw~ditions, and cove~ants of said promiswry nate and ihis
n~orrgage any or e~~her, a~xl wtd costs, charges and expenses, each and every, shall be immediately due and payabte; whe~her w not there be not7ce dr
mand, atre~npt to co!Iect w suit pe~d~ng; and the tull amount of each and every s~ch payment shall bear interest from ~he date thereof until paid at the
~,~re o+ nine per centum pcr a~inurn; and all said costs. ~harges and expenses incurred w paid, together w~th suth interest, shall be setvred by the lien of thif
mottgage.
b. That (a~ in the event of any breach of this Matgage or default on the part of the MORTGAGOR, or (b) in the event a~y of sa:d suma of mo~ey
h,~rein refe.red to be not pranptly and fully paid wi~hin thirty (30! days next after the same severa:ty become due and payable, without dema~d or norice,
or (c) in thr event each and eve?y the stipulaiioas, ag,eemenfs, cond~t~ons and covenants of sa~d promissory note and th~s mor~gage any or either are no1
iuly, promptiy and f~lly performed, d~xha~ged, executed, effected, completed, compl~ed w~~h and ab~ded by, then in either w any such event the said ag
3'~9ate sum mem~oned in said promisso~y note then remainirg unpeid, with inrerest accrued, and atl moneys secured hereby, shall betome dve and pay-
ao e forthwith, or thereafter, at the option of said MORTGAGEE, as fully and completely as ii afl of the said sums of money were orginally stipulated
to tx ~:d on suth d:.y, anything in sa.d promisswy note or in this Mortgage to the contrary notw~thstanding; and thereupo~ or thereafter af the optio~ of
sa;d N10RTGAGEE, wittwW nouce o~ demand, suit af law or in equity, therefore or thereafter beguo, may be prosecuted as if all moneys setured hereby
n_d matured pnw to its inslituAOn. •
7_ Tha? in the event that at the beginning of or at any time peoding any suit upon this Mortgage, or to foreclose it, or to refdm it, or to enforoe
F>aymt~t aF any daims hereunder, said MORTGAGFE shal! app~y ~o the Courl having jurisdiuion thereof for the appo~ntment of a Receiver, such Court shall
f;:thwiTh appoint a recelver of said mortgaged property all and singular, i~xtudmg all and singular the incoml, profits, issues and revenues from whatever
so~rce de~ived, each and every of wh~ch, it being express(y understoad, is hereby morrgaged as if spec~fica!!y set fath and desuibed in the graMing a~d
h3ixnd~m ciauses he.eof, and such Receiver shall have all fhe broad and effective funct~ons a~d powers in anywise entrusted by a Court to a Receiver, and
s_ch apFointmri~i shatt be made by such Court as an adm~tted equ~ty and a maiter of ~ebso~ute right to said MORTGAGEE, and wethout reference to the
ectea~acy or inadequacy of the va7ue oi the prope~y morfgaged or to the so:vency or insolvency of said MORTGAGOR u the defendants, and that such
~~~-~ts, profirs, incane, issues and revenues ahall be applied by such Receiver accord~ng to the lien w equity of said MORTGAGEE and the practice of such
Court.
8. 7o duty, prompr~y and fuNy perform, discharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, $
conditions ar.d covenanes in sa~d promissory note and this mortgage ut fwth.
9. That in the event the ownership of the mortgaged premises, or any part tF~ereof, becomes vested in a person other tha~ the MORTGAGOR, the
:'ORTGAGEE, its successors and sssigns, may, withour norice to the MpRTGAQR, deal wrth such successa w successor in inrerest wi~h refercnce to this ~
~•ortgage and the drbt hereby secured in the same manner as with Mo~tgagor without in any way vitiating w discharging the Mortgage?rs' liability here-
~~~der or upon the debt hereby secured. No sale of the prem~ses hereby mwtgaged arwa no forbearance on 1ix part of the MORTGAGEf w its successors
ur ass:g»s and no earens;on of tF~e time fo: the payment of the debt hareby secured given by the MORTGAGEE or itz successors or assigns, ahall operate
~o re!ease, d~scharge, modify ~hange w affect the originat IiabiG+y of the MQRTGAGOR Fxrein, either in whole o~ in part. _
10. It is spec~f~cally agreed that time is of the essence of rh~s contrac~ and that ~o waiver of any oblPgation hereunder or of the obligafion se-
cured hereby shal~ at any time thereafter be he!d to !re a waiver of ihe terms hereof w of ttx instrument secured herby.
l l. In dOC~,TiO"i to the for~o:ng ~nor.thly payments of p~inc'pal and inrerest required by the promisscry note scwred hereby, mwtgagor covenaNs
r,d ag:ees to ~ay to morfgagee with each momhly payrnent an add~~ional sum est~mated by mortgagee to be equal to 1; 12 of t4e annuat cost of the follow-
' ~ J~
A-A!1 real property texrs te~ied or assessed against the above desvi5ed real estate.
B-Pr,n:iums on f~re and windsrorm insurar.ce as herein requ~red to be carried on the improvemeats sitvate on the above destribed p~emises.
C-Premiurr•s o~ such mortgage guaranty ir.suran~e as mortgagee shall from t6me to time deem fit to carry on the loan secured hereby.
Mortgagee shall from t~me to t~me ~otify mortgagor in writing of the amount due and payabte hereundrr and such sum shaN thereupon be due and
:~r=b!e on rhr ~~e ciare of the next n~onth!y payment and each successive momh thereafter ur.til mo~tgagee shall notify mortgagor of a change in such
~ ou~t. $~ch sums sha:l be app!ied by mwtgagee toward the Fayment of real property taxes, insurante prem:ums, and mo~tgage guaranty iosurante
:~~emiums.
IY Y~ITNESS WHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and year first aforeuid.
Signed, Sealed an liver in the presence of: ~
~ •n
r enne t c~an
- cs~ao
rothy Benn tt ~,n
S i r~1E OF FLORIUA ~
CJJNIY OF _St. Luc ie ~
1
Before rt+e personally appeared Demerv Bennett a~
Dorothy Ma~ Bennett h~s wife, to me well known and known to me to bs
rne indrvid~ats described in and who executed the foregang instrur?xnt, and acknowtedged be{ore me ihat they executed the same for ihe pwposes
therein expressed. And tix said
Dorothv ~e BerLnett '
r:iie of the sa~d _Demery Bennett vpon s ieparate snd private
~~am~nat~o~ by me taken separate and apart from her said husband, acknowledged to and before me that she exetuted said instrw5x+lt frtyly and vol~rrt- ;
.*~iy and without any compulsan, constraint, appre i or fear of w fr f~er said busband. t
WITNESS my hand and officlal seal this day of Augus ~ D. .~~72 ~
otary Aublit in ' w the St~ts' i{jfida ~t Larpe _
My Commiss'an exp' es: ~
Retum TO: . 3• ~,~~,r~ .
first Federal Savings d toan Association
Of fort P.erce. . ~
Fort Pierce, Flor~da pKp ~ECOROE~ V '
PI~EQ ,
St. RO~EFC~~tR1~S Rj C
~ CLERK Cti. ~~~j C00
This Instrument Prepared By, Kerineth G. Foltz p~~~p~ •1c..,• f0 ;
First Federal Savings & Loan Association t i
of Forr Pierce ~ Florida 334a0 ~~e 2 Za PN ZZ
Checked By~_ 2~~1s ~
- eoox 205 ~~1848 ~ ~
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