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Home My WebLink About0905 . ~ 3. To place and continuousty keep on the bu~'d~ngs now or hereafter suuate on sa~d la~d and on al~ equipmeM and personally covered by thSs ma age, w~th ail pren~i~~ns ~h~reon pa~d in tull, 1~re inS~ranCC in the vsua! sta«dard pol~ty form, in a wm a{.proved by tha MQR'iGAGEE, and wrindslo ~I~surance in the usual s}andard pol.cy form, in a wm approved 6y ~he MORTGAGEE, in such con,pany cr com+~anies as the A10RiGAGEE m d~recr, and all fire and w~nds~orm insuronce poGues on any of sa~d buitd~~gs, any intereat the~~in or part thereof, in the agg.~~gafe s~m aioresa~d in extess fhrr~pl, sf~all :o~tain the ~w~l sf~~:dard mprtgagee tlause or suth other ~lause as Ihe Mortyagee may reqwre, making thz ioss unJer sa~d po c~es, each and eve.y, payob!e to said l~1URiGAGEE as ~ts intcrest r~ay appear, and each and e~ery such poi~c~ shail be prompny ass gned and deGvered t any held by safd MORiGAGEE as fu~rhe~ s_•curity to said morrgage debt, a~~d, no> less than ten (10) days in advance o( ihe expirat~on of each policy, to d~ Gver Io sa~d MORTGAGEE a ~enewal ~hereof, togethzr with a receipt for Ih~ przmium of such renewal; and thrre sha!1 br no f:re or windsto~m ;nsuianc pfaced on any of sa~d build~ngs, any intzrest there~n or par~ ~hereof, un'ess in ihe (orm and with the loss payable as aforesaid; and in the eveN any sun uf money becomes payable unde~ such policy or pofci~s said MORTGAGEE shall have ~he opr~on ro rez~lve ..nd appiy the same on account ot the indebted ? ness se<ured he~cby w to permit said MORTGAGOR$ to receive and use it or any parl th_•:eof icr o:i~~. r ~ur; cse s: v,~!i•,~,;t tf~ ,ti,:l.i cr r•~p.ir ir9 any equAy, Gen o? ri9ht under or by virtue of this mo: rgage; and in ?he evrnl sn d MORTGAGORS shall !or any reason fail to keep the zaid premises so msured, or fail lo deliver promplly any o4 said polrcies of insuran~e to said MORTGAGEE, cr f~il p:omptly to pay fu~ty any pre~ni~m therefor or in any respect fai~ to perform, dlschar9e, execute, effect, coaipiete, compty w~th and ab~de by th~s covenant, or any part hareof, said MORTGAGEE may p~ace a~~d pay for such insurance or any part thereof without waiving o: a(fecting any option, lien, equity, or r~ght under or by virtue ot this Mertgoge, and thc !~il amount of•each a~d every wch paymrnt si~alt 6e immediately due and payable and shail bear interes~ from thr date fhereof until poid at rhe rate ot ~~~~~e F,er cenrum per ar.nun; ar,d ~o3ether ,~irh such i,ue«sr shafi be srcured by the lien of this mortgaga. d. To pe~mit, tommit or sufFer no waste, impairment or deterioration of said property or any part t6ereof. . 5. 1o pay al~ and sirr~utar the costs, charges and expenses, including a reasonable attwney's fee and costs of abstracts o( title, incurrzd or paid at any tin:c by said MORTGAG~E, because or in the event of the ia~lure on ~he part of the said MORiGAGOR to duty, prompdy and futly perfo~m, d~scha~ge. _¦.~.ute, effect, cemptrte, comply wah and ab:de by each a~d every the stipulaf~ons, agreements, conditions, and covenants o( said promissory note and ~his ~,ortgage any or e~~he~, and sa:d cosrs, charges and expenses, each and every, shall be ~mmediately due and payabte; whether or not there be notice d- ~>>and, atte~npt to cotf~t or suit pend~ng; and thr futl amount of each and every such paymero shall bea~ interes? from the date thereot unrit pa~d at the - r-> a n~ne per cen~„m pcr annunr, .;nd a!1 sa;d costs, charges and expe~~ses incurred or pa~d, to~ether woh such interrst, shall be szcured by the lien of this mortgaqe. ; 6. That (a) in the even~ of any breach of this Nlortgage or default on tl~ part of the MORTGAGi7R, or ;b) in the event any of sa:d sums of money 4 h~rein refened to be not prompfty and futty paid within th~rry (30) days next aiter 1he same severa:ty become due and payable, withouf demand or notice, ~ t cr (c) i~ the event each and every the siip~:at~ons, agreements, condltio~s and covenant: of sa:d promisscry ~me and th~s mo~tgage any or either are not iufy, promprly and fully pe+lor~ned, d~scha~ged, exec~•ed, eifected, completed, compl~ed w~th and ab~ded Sy, then ~n e~~her or any such eveM the sa~d ag~ gregate sum mentioned in sai~ pro,nisso~y note theo remaining unpaid, ~vith interest accrued, and ai~ ~noneys secured hereby, shall become d~e a~d pay- ao:e fo~rh~vith, or ~i,ereafter, at the opt~on u! sa:d hSCRTGAGff, as `•u!:y .;r~ c~mp!ete!y as i1 aI! of s.•;rf s„ms oi money were or~ginaily st~pulated ro be pa:d on such day, anything in sa:d prom~ssory note or in this Mortgagr tu ~he contrary notwithstanding; and thereupon or thueafter at the opnon of s~:d MORTGAGEE, without not~ce or demand, suit at law or in equity, therefore or thereaher begun, may be prosecuted as if all moneys secured hereby r_d matu?ed pnw to +ts ~nstirvt;on. 7. That in the event that at the beginn~ng of or at any time pending any su~t upon this Mortgage, or to foreclose it, or to reform it, or to enforce payment of any cl3ims hereunder, said MORTGAGEE shall apply to the Court ha~ir.g ~unsd:ct~on ihereof (or ~he appo~romeN pf a Receiver, such Court shall rcrrhwrtA appo~ne a rece~ver oi sa~d morr a c~i ro r,i eL' o,~u ~ ~ - - - ' _ - 9 3 P P Y ~yo,e., o.c:v.~„-.y ....:y_:... ' . a~. : _ t.~... ...1.,~vye. :a F•_-.'_ ^r_e. " s.~~rce derived, each and every of wh~ch, ~t be~ng express!y understood, is hereby mortgaged as +f s~euf~cally set ioith and described in the granting and ~ ~oendum dauses her~f, and such Receiver shatl fiave atl the broad and effecrive funchans and powers +n anywise entrusted by a Court to a Recciver, and s,ch appointment shall be made by such Court as a~ admitted equity and a matter of absclv!e right to said MORTGAGEE, and without reference to the r.dc•quacy or inadequacy of the value of the property mortgaged or to the so~vency or in:o~vency of sa~d MORfGAGOR or the defendaMS, and that such ~ r~•-~~s, profits, inco,ne, issues and revenues shall be appiied by suth Receiver accordmg to the lien or eqvity ol sard MORTGAGEE and the practice of such Court. 8. To duty, promptly a~d fully perform, dis:harge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, cenditions and covenanrs ~n sa~d promissory ~ore and th;s mortgage set io~fh. 9. That in the event the ownership of the morigaged p~emises, Or any part thcreof, becomes vested in a person other than the MORTGAGOR, the '.:ORTGAGEE, its Suctessors and assigns, may, wi~hout notice to the MORTGAOR, deal with such Sutcessor ot successor ir, intcrest with referente to 1hiS o~tgage and the d_bt hereby sec~red in the same man~er as with l:tortgagor without in any way vit:ating or discharging the Mortgagori liability here- f .•der or uport the debt hereby sewr.~d. No safe of ihe premises h~reby mortgaged and no iorbearance on ~he part of the 1110R7GAGEE or its successors o~ ass~gns and no extens~on of rhe t~me for the payment of the debf hereby secured given by the 1/IORTGAGEE or iu successors n~ ass~gns, a~tiafl operate 3 ro rerease, d~scharge, mod~fy ~har.ge cr affect the orig~nal liau~ihy of the MORTGAGOR herein, either in whole or in part. ? 10. It is spec~fically agreed that ti~~e is of the essence of this comract and that no waiver of any obltgatlon hereunder or of the obligat'an se- i c~red hereby shaU at any tin:e tnereatter be held to be a waiver of the terms hereof or of the-instrumeM sewred herby. 11. In ati:! tio~ to the fo~ego nr~ month~y paym=nts of p~inc pai and interezt requlred by the prom ucry no'e sccurecl hereby, mortgago~ tovenants j d ogrees to aay !o A:p'1~3~_~~ x~th each ~non*h'y pay~aent an add~rional sum est:n ated b~ mortgagee to be eq~af to l, 12 oi tlie an:wal cost of the follow- A-All real property taxas lenec'. or assess_u agai•tist the above describcd real estate. ; 6 Pr,:~r:~u~ns on fne and w~~:dstorm inwrarce as herein regu[r~d to be ca~ried on the +mproveme~rs s~tuare on thc above d=scribed premise~. ~ C-Premivns o? svch mortg..oe gua~anty ir.surar:ce as mortgagee sha~l from. t'me to tirn~~ deem fit to carry on the loan secured hs?eby. ~ i hlortgagee s~all fscm f~~n~ ro t~:t;e notif~ mortgagor ;n wrEnng of the amou~t due and payable hereundrr and such su~i shatt therei~psn'be dug_and I :.~.abfe on th_ due oa•e of th~ ~~exr n:onth'7 payment and each successive month thereaiter untii mortgagee shatl not~fy mortgagd~_of'a ehange in svch t ~unt. Such swns sFatl be app'ied by mortgag~e toward fhe paymem of reat property tazes, insurance prem.ums, and moqg,ipQ~ gvarsMy. insuran~v~ .••emiums. l IN \'lI7~~ESS '.'+NE , the a~d ORTG GOR has hereunto set his hand and seat the day and year first aforesaid. ~c " Signed, Sealed . d l;ve~ e orese ce of: S, I.. T1, De V@ l Q. pOfl~at lOt'1 fILEO AMO RECORDEO BY : ST. LUCif CoUhTr ftA. Mil o F ' - _ ~CA~E K ~ ~!T C 01,'` R- T ~ATTEST : (Sea~ ~ - ~ ~ ~ ~ D r F 1 1 . Seal? a~ i7 8 ~8 ~ 37r - - - ~~AAn c-~ ~c.a~JJrn.? ; STATE OF FLORIDA ~ COUNTY OF ST. LUCIE I HEREBY CERTIFY, 7hat on shis _ ~_day of__ Octot~er , A.D. 1972 , before me personally appeared __Milton F. Flynn and ~xy F• Flvnn i respectively _ President and Secretary _ _ , of S.L.M. Development Corporation a~___Florida Corporation, to me known tc be the persons described in and who executed the foregoing instrument, and severally acknowledgsd the exe- cution thereof to be their free act and deed as such officers for the uses and pursoses therein mentioned; and fhat they = affixed thereto the officia! seal of said corporation, and the said instrument is the act and deed of said coFporation. ~ ~ WITNESS my hand and official sea{ at Fort Pierce _ , said c and at . ' . ~ This instrument prepared by • c>'•.~~ ~ ~ John W. Collins ~ - - First Federal Savings and Loan Notary Pub ic, in and for tat and Co~~ty~~forasaid~ Association of Fort Pierce, Florida My Commission Expires: 2' n:: ~ •1 ~ . x 1 : _ . ~ . - ..4 - i ' Checked By , . ~ " lOOK~+V~ FJICE ~ - - - - - -