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Home My WebLink About1854 3. 7o ptace a~d continuously keep on the bui!d~ngs now or he~ea4ter si~uate on sa~d land and on atl equipmeM and penonaily covered by thi~ mor ege, w>>h all prenuvms thereon pa:d in fuli, fire insurance io fhe usual standard poticy form, in a sum approved by the MOR~GAGEE, and windsto ~n;u~ante in the usual s+andard po:.cy fam, in a s~m approved by the MORIGAGEE, in suth tompa~y a compar.ies as the MORTGAGEE m d~rect; and all firo and w~ncls~orm insurance pol~cies on any a( said build~ngs, any in~eres~ therein or part thereoi, in 1he agg~egate s~m afaesaid in excess lhereof, shall tontain the usua7 sta~~dard mortgagee tlause or such other dawe as the Mortgagee may reQuue, making the Ioss unda~ sa~d po c~es, each and e~e~y, psyable lo said MORTGAGEE af its interest may ap,~ear, and each a~d every such po~ic~ shall be promptly ass.gned and detivered ~ any h.ld by sa~d A10R(GAGEE aa fur~her security to sa7d mo~igage debt, s~d, not less ihan ten (10) days in advance of the expi.at~on ot each pol~cy, to d~ fver to said M110RTGAGff a~enewal thereof, together with a?ece~pt for t!k premium oi suth renewal; and there sha:l ba no fire or windstwm insurant placed on any of sa~d buildings, any intere:t therein or parl the~eof, untess in the form and with the loss payable as ataesaid; a~d in the event any sun of money becornes payab:e undrr suth policy or pol~cies said MORTGAGEE shail have the opt~pn to rece+ve and app!y the same on account ol the inde6ted ness secweJ hereby or to perm~t sa~d MORTGAGORS to reteive and use it a aoy part thercol for o:hrr purposes, w~~hou~ ~h_~.or wairi~~~ or uupair ing any equ~ty, lien or r~ght unde~ or by virtue of this mo-:gage; and in the event said MORiGAGORS shall for eny reason fail to keep the :aid prem;sas so ~nsu~ed, or fait to detivtr prornptty any of said policies .a1 insu.ance to said MORiGAGEE, or fail promptly to pay fully any premium therefor w i~ any re:Fx-ct fail to perform, d;scharge, execute, effect, complete, comply wi~h and abide by this covenant, or any part hareof, sa~d MORTGAGEE may pisce and pay fw such insurante or any part thereof without waiving or affecting any option, Iien, equity, o~ right undea or by virfue of this Mo~tgage, and the t~ll ainount of each and e.~ery such payment shall be immediately due and payable and shall bear interest irom the date thereof un~il paid al the rate ol ~~~ne per centurn per a~viu~n and to~ethrr with such interest ahaii be sacured by the lien of Ihis mortgage. 4. To permit, commit or suffer no waste, impairment or deterioration oi said property or any part the~eof. S. To pay atl and singular the costs, charges and expenses, includin9 a reaso~able at?orney's fee and costs of abstratls of title, incurred or paid st .ny tin:e by said A10RTGAG:E, because or ir. ~he event of the fa;lure on the part of the said AAORTGAGOR lo duly, promptly and fu~ly perform, d~scharge. :x~~:~~te, ef(ect, comptete, comply w~th and ab:de by ea:h and every tiK stipu~at~ons, agreements, conditions, and covenanK of said promisso?y note and this ~~arrgage arty or e~nc~~, and sa;d costs, charges and expenses, each and eve?y, shall be immediately due and payable; whether or not there be notice dr r::~nd, atre~npt to cotlect o~ suit pend~ng; and the full amount of each and every suth payment shall bear interest from the date thereof until psid at ths - r o~ n~ne }:er cenium ~r annu:n; and aif said costs, charges and expenses incwred q paid, logethe? wnh such interest, shall be secured by the lien of this R~ortgage. 6. That (a) in the evem of any breach of this Mortgage or default on the part of the MORTGAGOR, or (b) in ~he event aoy of ss:d tums of money h~rein referred to be not pranptly and fully paid within tA~rty (30) days next aFter the same seve~a!!y become due and payabte, without demand or notice, er ~cj in thr eve~t each and every the stipu~ations, agreements, cond~teans and covenants of sa+d promissory note and th~s mortgage any or e~the~ are ~ot i~~1y, p~omptly and fusfy performed, d:xharged, eaecuted, eifccted, completed, complied with and ab~ded Sy, the~ in e~ther w any such event the said a¢ ~•~~yate wm menrioried in said promisw~y no~e tben iemaining unpaid, with interest accrued, and all moneys secured he~eby, shall become dve and pay- ac e fo~~hw~th, or r~errafrer, at the option of said MORTGAGEE, as fuliy and complerely as it all of ~he sa~d sums of money were originslly sfipulated ~c be pa~d on such dsy, anything in sa:d prom~uory note o. in this Mwtgage to ~he con~rary notw;thsranding; and thereupon or thereafte~ at tAe option of s~ d MORTGAGEE, w~thout not~ce or demand, suit at law or in equity, therefore or thereaf!er begun, may be prosecWed as if all moneys secured hereby n~d matured prror to its i~stitutio~. 7. That in the event that at the beginning oi or at any time pend~ng any suif upon this Mortgage, or !o foreclose it, or to refwm it, o? to enforce ~~yment of any claims hereunder, said MORTGAGEE shall appty to the Cov~~ ha~ing jur~sdrc~fon thereof for the appo[ntment of a Receiver, such Cou~t shall tc;;hwith appo+nt a rece~ver of said mortgaged property all and singular, includ~ng ail and singular the in~ome, profits, issues and revenues from whatever s= urce derived, each and every of which, it be;ng expressly undersrood, is hereby mortgaged as if speulicaily set forth and dexribed in the g~anting and ~~.>'.}endum cla~ses herc-of, and s~ch Receiver shall have atl the broad and effective funct~ons and powers in anywise emrusted by a Court to a Receiver, and s, ch appointment shall be made by such Court as an admitted equity a~d a matter of atsolute right ta sa;d MORTGAGEE, and wittwut reference to the a~i~quacy or in3dequacy oi the value of the property mortga9ed or to the so:vency or ;nso:vency of said MORTGAGOR w the deiendaros, and that such r. •,+s, proiits, ir.cane, issues and revenues shall be appiied by suth Receiver according to the lien or equity of said MORTGAGEE and the practice pf svch Caurt. 8. To du)y, promptly and fully perform, d~~charge, execute, effect, complete, comply v~r~~h and abide by each and every the stipulations, agreerrKnfs, cor.ditions and covenanu in sa~d promissory note and this moregage sel forth. 9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MpR7GAGOR, the ".:ORTGAGEE, its successo~s and ass'~gns, may, w;thout notice to tFe h10RTGAOR, deal with such successw o~ successor in interest with reference to this ~•~gage acd the drbt hereby secured in the same manner as with rAortgagor withaut in any way vitiating or d~scharging the Mortgagors' liabifity 1?erc d•-r or upon the debt hereby secured. No sate of the premises hereby mortgaged artd no forbearance oo the pan of Ihe MORTGAGEE w its wccessers ass~gns and no exrension of the time for the payment of the debt he~eby sec~red yiven by the MORTGAGEE o~ its suctessors ot au~gns, ahall operate ~o :e+zase, d:scha:ge, modity change or affect the original liabit~ty of the MORTGAGOR here~n, either in whole or in part. 10. It is spec~fically agreed that time is of the essence of this co~tract and that no waiver of any"oblcgation hereunder or of the oblgafion se- c_~red hereby sha~~ at any time thereafter be hetd to be a waiver of the terms her¢of or of the instrumem secured herby. S 1_ In a;id tio:~ ro ihe forego'n9 momh!y paymsnts of princ'pal_ and interest required by the promissory no!e secur?d hereby, moctgagor covenants ? ~ d agrces to pay to r.~o-tgagee vv~th eacn momhiy pay,,ient an add~~ional sum est~mated 6y mortgagee to be eq~al to i;' 12 of the annual cost oF the follow- j: A-All reai property taaes lev~ed or assessed agai~st thc above described real estate. , E-.~(:~1:+U':15 on f~re and windstorm ~nsurarce as herein requ~red to be carried on the ~mproveme~ts situate on the abo~e desuibed premises. C-Prem~~n:s on wch mortgage guaranty ir.surar.ce as mortgagee shalf from s~me to time deem fit to carry on tfK foan secured hereby. Mc,rtgaGee she'I ~ram time to time notiFy mortgagor in writing of the amoun! due and payable hereundtr and such surn shall thereupon be due and .,ab!e on th~ d~e da~e of the next month!y payment and each successive month thereaftcr until mortgagee shall notlfy mortgagor of a change in svch >unt. Such su~ns sFa:i be applied by mortgagee toward tFie payment of reat properiy taxes, insurance prem:ums, and mortgage, guaranty insurance . •e,niums. ~ Y r;.~ IN Y~ITNESS `.tHERcOF, the said MORTGAGOR has hereunto set his hand and seal the day and year first aforesaid. . ~ s~9~ea, sea~ed and deI' ered i the pres an~ RECOR~ED S. L. M. Develop~ent Corpora~t~on `~E~~ UC~E ~OUNTY fLA. " ~ Ocz~ ra~?~AS l BY: RK C :CU1T COURT «a0 . ~ - ` ;rs :1rr - Seah _ ATTEST s - - ~ ~Y 2 2~ + ~ ~TZ . Flynn, ecretary - an : , . , STATE OF fLOR(DA 2363~.9 COUNTY OF S7. LUCIE I HEREBY CERTI~1(, That on this 25th day of_^- August , A.D. 1972 , before me personally appeared Milton R. Flynn and Mary F. Fl}mn respectively President and Secretary , of S. L. M. Development Corporation F2orida , a _ _ Corporation, to me known to be the persons described in and who executed the foregoing instrument, and severally acknowledged the exe- ~ r cution thereof to be their free act and deed as such officers for the uses and pursoses therein mentioned; and that they ~ ~ 1 affixed thereto the official seal of said corporation, and the said i~strument is the act and deed of said corporation.' ~ WITNESS my hand and official seal at Fort Pierce , sai cou ty an s te. ' t This instrument prepared by John W.Collins ' ` First Federal Savings and Loan Notary Pu lic, in and fo St te and County aforesaid. . Association of Fort Pierce, Florida My Commission ~Expires: , .3-Z-~S i 4 - - Checked By ~ Baox2~J Pnc~1$~ y~ F ~ - ~ ~ - Yl,~ 7 ~ .r . _ . `$'.~-~'i.?+'~.. e~