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Home My WebLink About1924 3. To p~ace and continuousty keep on the bui:d~ngs now on c~reafter s~tuaro on said land and o~ aii equ~p~nent and personally covered by ~his mw a9e, w~~h all p~emi~:ns thereon pa!d in full, (ire insurance in the usual sta~~dard po:~ty form, in a sum aHproved by the MOR+v.>GEE, and w~nd~to ins~rante in tha us~al s+andard pol,cy fa~n, in a sum approved by the MORTGAG"cE, in such cempany or tompan~es as the A102TGAGEE m d~recr; and all fne and w~nds~orm inwrance po~~ues on any of said bu~:d:ngs, any inreiest there~n or part thereof, in the aggregare sum aforesaid in ezcess ?hereof, shatl :omain the usuat standard mor~gagre clause or suth other c~awe as the Mortgagee may requ~re, making tha loss unJrr sa~d po c[es, each and every, payab'e to sa~d A1pRTGAGEE as its in?erest may appear, and each and every suth po:~cy shall be promp~ly ass gned and de~ivrred j any held by sa~d htOR1GAGiE as further secu~ity to said mo:tgage deb1, and, not less than ten (10) days in advance o( the expirat~un of each potity, to d~ Gver ro sa~d MORTGAGEE a renewal thereof, toge~he~ wifh a reteipt fo~ tha premium of such renewa~; and ~hare shall be no f~re or windstorm insuranc placed on any of sa~d bu~td~ngs, any intcrest there;n o~ part thereof, unless in the form and with ~he loss payabte as a{oresaid; and in 1he eve~t any sun of money becomes payable under such potity o~ po~~ties said MORTGAGEE shall have the opl~on to recaive and app!y the same on attount of the indebted ness sewred he~eby or to permit sa~d MORTGAGOR$ ro receive and uu it or any part tFkr~wf ia~ oti~_•r purFOS~•s, v.~~no~t ih~~ru~ :va~.~~3 cr ~~npa~r irg any eq~~ty, Iien or right under or by virtue of this morgage; and in the eveN said MORTGAGORS sha~l for any ~eason fail to keep the sa~d p~emisrs so ~nwred, or fail to d?~~vcr promptly any oi said pol~ues of insurante fo said MORTGAGEE, o~ fail promptty to pay ful~y any pre~nwm therefor or in a~y ~espect fail to perform, d~scharge, e~cecute, effecl, comp!etr, comply wi~h and abide by th~s cove~anf. or any part hrreof, said MGRTGAGEE may place a~~d pay (or s~ch insurance cr any part thereof w~thout waiving or aifecting any option, lien, equ~ty, or r~ght under or by virtue of this Mertgage, and the tu!1 a~no~nt of each and eLecy s~ch payment shall be imenediately due and payable and shall bear interest from the date thereof until paid at the rate o1 n~r.e ~xr crntum per annu~n and to~rth~~r vcitA such interest shali be setured by the lie~ of this mottgage. 4, io permit, commit or suffer no waste, impairment w deterioration of said property or any part lhereof. 5. To pay all and singular the costs, charges end ezpenses, including a reasonable attorney's fee and costs of abstracts of titfe, incurred or paid a~ any time by sa~d MORIGAG~E: beca~se or in the event of the fa~iure on ihe par~ of the sa~~ MORTGAGOR to duty, pro~~~ptiy and fu~ly p.:rform, d~xha~ge. -.ecute, effett, complrte, comply w~th and ab:de by each and every the stipu~at~ons, agreements, conditio~s, and covenaros of said promissory ~ote and ihls ,~ort~age any or e~~her, and sa;d costs, char9ea and eapensrs, each and every, shall be immediate~y due and payab:e; whether w not there be rsot~ce dr r„nd, atternpt to collect or suit pend~ng; and the full amouM of each and every such paymeM shall bear interest from the date thereof until paid at the • ne o+ nine uer c~-n:wn Nar am~~:n; and ail said cosrs, cha~ges and ex,-~nses irxurred or paid, together ~wth such interest, shall be secured by the lien of this mortgage. 6. 7ha~ (a) in the event of any breach of this hlortgage or Qefault on the part of the MORTGAGOR. or (b) i~ the event any of sa:d sums of mo~ey I:erein referrrd to be not pro~npily and fully paid wirhin th~rty (30) days next after the same severalty become due and payable, without demand or notite, or (c) En ihz event each and every ~he stipulations, agreements, conditions and covenants of sa,d promissory note and th~s mortgage any w ei~her a~e not i~ly, prort~p~ly and fu{ly performed, diuharged, ezecuted, effected, tomp~eted, complied w~th and ab~ded 5y, then in eit6er or any suth event the sa~d ag ~~egate sum ment~oned in said promiswry note then remaining unpaid, with interest accrued, and all moneys secuted hereby, shall become due and pay- a~ c ferthwith, or thercafter, at the optio~ of seid MORTGAGEE, as fufly and comptetety as if all of the said sums of money were or~ginally st~putated ~o be pa:d on such d.:y, anything in sa:d prom~ssory note or in this hlortgage to the contrary notwithstanding; and thereupon w thereafte~ at the option of d MORTGAGEE, w~rhout nonce or demand, suit at law or in equity, the~efore or thereaher begun, may be prosecuted as if all moneys secured hereby ~:~d matured pnor ~o ~ts institvt~on. 7. Tl~at in the event that at the beginn~ng of or at any time pending any suit uFon this Mortgage, or to fweclose it, or to reform it, o~ to enforce ~~yr.;ent of any c!aims hereunder, said IdORTGAGEE shaN apply to the Cour~ having jurisdidion thereof for the appofntment of a Receiver, such Court shall i, rshwirh appo~nt a receiver of said mortgagrd property all and singular, includ.ng atl and singu!ar the ir.come, prof~ts, issues and ~evenues irom whatever :~ce d~rived, each and every of wh:ch, it being eapressly understaod, is hereUy mortqaged as if s.xuf~caily set fo~th and described in the granting and h:`:end~m causes hereof, and such Rece~ver shap have all the broad and eff~c+ive funct.ons and powers in anywise emrusted by a Court to a Receiver, and s:h appointmenr shjfl be made by such Court as an admitted equity and a manzr of absoiute right to said MORTGAGEE, and w~thout reference to the a i.~quacy or inadequacy of the va~ue of the property mo~tgaged or to the sotvency or insc:vancy of said 1dORiGAGOR or the defendants, and tF.at wch ~~s, proEits, inco.ne, issues a~d revenues shall be applied. by such Receiver accord~ng to the ~ien or equity of said MORTGAGEE and the practice of such Court. 8. To du!y, promptly and fully perform, discharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, .:onditions and covenants ~n sa~d promissory ~ote and this mortgage set forth. 9_ 7hat in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the :'~RTGAGEE, its svccesso+s and assigns, may, without norece to the MORTGAOR, deal with such successor o~ successor in interest with reference to this ~•~gage a~d ~he d_o~ hereby secured in the same manner as w~th Mortgago~ w~thout in any way vitiating a d~scharg~ng fne f~Aortgagori liability her~ ~.drr or upon the debt hereby secvred. No sale of the premises hereby mortgaged and no forbearance o~ the part of the /dORTGAGEE or its successors o~ ass~gns and no ex~ens;on ot the time for the payment of the debt hereby sec~red given by the IdORTGAGEE or its successws or au~gns, a~~all operate ro reiease, d~scharge, mod~fy change or affect the original liab,liry of the MORTGAGOR herein, eithet in whole or in part. 10. It is spec~f~:a11y ~areed that time is of the essence of this contract and that no waiver of any obligat~on hereunder or of the obligata~ se- wred hereby shali at any time rherea:ter be he!d to be a waiver of the terms hereof or o1 the instrument secured herby. I 1. In ,<dd t:c~ to the forego ~~9 momhly payrr.ents of p:inc pal and interest req~:red by the prom:sscry no!e secu:ed hereb~/, mortga~or eovenants d agrecs to pa,r ro mo-tgagee v~ith each monlhfy payineni an add~riona~ sum est~n:ated by mwtgagee to be equal to 1, 12 of the annual cost of the follow- A-A~; real propcrty taxes le•~ied or assessed agai•ut the a6ove desaibed reat estare. , . E R'r.~.~~~~;;s o~ fire and wir.dstonn insuracce as nere+n requ"aed to be ca~ried on the ~mproveme~ts rtuate on the above dezcribed'Prp~~ig~ ' C- Pr~~~~;~n s o~i such mortgage guaranty ir.sura~.ce as morrgagee shall from t~me to time deem fit to carry on the loan secured ~~ys•""••; ~ ~~i [ ~i Ilf N,orrgagee s~a:l from nme to t~me not~fy mor~gager in writ~ng of the amou~t due and payable hereundrr and such su:n shali tCLTrao~ due ~3nd ~y ~ ,,,b'e o~ she d~e o.~re o4 ~h~ next momhiy paymem and each successive month thereaft~r until mortgagee shall notify mortgayce~f ~-ehar`pe, in sucli :unt. Sucfi su:-:s sFail be app'ird by mortgagee toward the payment of real p~operty taxes, insurance prem.ums, a~~d mortgapQ :~Varant~~nsura:tc~ ~ •~~r.iums. 'f • Gi " : ~ ~ ' V7 1 i I~l \'lITPJE~S :VHERcOF, ~he said MORTGAGOR has hereunto set his hand and seal the day and year first aforesaid. i, r. O. E i_ ~ Signed, Sealed and e'~vered in the presence of: ! p ~ ~v' ' E , • ~ ST~WCIC COUNTY ~L~. PE CONS UC ~ OfiI- . ~ ROGE~ ?diTRA~ BY: C - • ~t ~ A CIERK C:RGU~~ COURTATTEST; - (Seaq RFCOR(' VER~FIEp (Seaq i~:i~di~~i sEt 4 1~ 1~'~~ STA7E OF FLORIDA COUNTY OF ST. LUCIE 1 HEREBY CERTIFY, That on this -a t~ h day of_--Se~tember , A.D. 19 ~2 , before me personally appeared Gary L. Pearl and Phili~ Pearl respectively President and - Secretary , of Pea rl Con st ruc t ion Co .,_Inc . a_ _ Flo rida _ Corporation, to me ; a~ known to be the persons described in and who executed the foregoing instrument, and severally acknowledged ihe exe- j _ ~ cution thereof to be their free act and deed as such officers for the uses and pursoses therein mentioned; and thet thef/ ~ , , affixed thereto the official seal of said corporation, and the said instrument is the act and deed of said cor~ratiOn. ~ ' r : - c ~ r - WITNESS my hand and official seal at Fort Pierce , said county state. _ . ~ ~ ~ This instrument prepared by ~ ' ~ ~ John W. Collins ' = " tar blic, in and forSta~ co yaf~e3d~- R ~ i~irst Fedr~ral Savings and Loan Assoc. Y 7~IR .1~ ~TEaF~R~~A~URG~~ ~ My Co mission Expires: , ~ F~rt PierCe, Floric'a MY COMMISSlON El(MRES'OE~: 2~,~1~. ~ BendeO tArr CenvH Inwr~~~"UnOer{rrltin. . ~ ~ Checked By~~-_____- 8o~K20fi P,,~1921 . . ~ _ _ ~ _