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Home My WebLink About0907 . 3. To place and tontinuously keep on the bui:dings now or hereafter situate on said fand and on al; e~uip~nent and personally cove~ed by this mor ege, w~th all premiums thereo~ pa~d in f~lt, fke insvrance in the ~suai standard pol~cy form, in a sum appra~ed by tha MOR.G:.GEE, and windsto insurance in the usuai standa~d pol,cy fonn, in a svm approved by the MORTGAGEE, in such company or compan~es as ~he t.1~RTGAGEE m d~rett; and ali (ire and windstorm insurance policies on any of sa~d buiio;n9s, any iMerest therein or Na~t thereoi, e~ the agg~:•ga~e svm afoiesa~d in excess thereo/, shali .onrsin rhe usval sfandard ino~tgagee clause or wch o~her cia.~se as ~he Mor~yayee may req~~re, mal.ing th~ ioss unJer sa~d po c~es, each and every, payab!e to sa~d h10R7GAGEE as ~ts imerest may appear, and each and eveiy suth po~lc~ sF,~il be promplly assg~~rd and de~~v~~rd : any held by sa~d MORTGAGEE as further security ~o sa~d mongage dabr, and, not less ~han ten (10) d~ys in ad~ance af ihe expirat~on of each policy, to d~ Gver to sa~d MORTGAGEF a renewal thereoF, togethe~ with a rece~pt for thr premium of such renewal; and there shall 6e no Gre o~ w~ndsto•m inwranc placed on a~y of said bui!d~ngs, any iMerest there~n or pa~l thereof, un!e:s in the fonn and wi'h ihe (oss payable as aforesa~d; and in the eve»t any sun of maney becomes payable u+~de~ sich pol;cy or poGcies said MORTGAGEE shall have the opt~on to recc~ve ~nd app!y t~~e same on account oi the indabt~d ness secured hereby or to permit said MORTGAGORS to receive and use it or any part th~~:eof fe• o:h~r ~w~; ~s~s, ~::~i,_:•~t ih:•~.,; cr ~•~:p.~r ing any equity, lien o~ :~9ht under or by virtue ot this morrgage; and in the even~ sa-d MORTGAGORS shil .`or any reason iail to keep the sa~d pre~nises so ~nsured, or fail to detiver pranptly any of said pol;cles of insurance to sa~d MORTGAGEE, or f~~~ p;o~~~ptly to pay 1u~ty any p~z~n~~m ~~~cr~for or in a~y respep lail to perform, d~scharge, execute, effect, complete, comply with and ab~de by th~s covenant, or any part ha~eof, said tAGR7;,AGEE may p~ace a•~o pay for such ins~r.,nce o~ any parf thereof without waiving ot affecting any opt~on, Gen, equ~ty, or right unde~ w bi virtue of thfs Moregage. and the full amount of each and ecery such paymeM shall be immediately due and payable and shall bear interest from th~: dat~ thereof until p~~d at the rate of n~ne per centum per .~nnu:n ~nd ro3ether ~nirh wch enrer~st shali be sxured by fhe lien of fh;s mortgage. 4. To permir, commit or suffe~ no waste, impairment or deterioraiion of said property or any part thereof. ~ 5. To pay all and singular rhe ccsts, tharges and expenses, induding a reasonable atto~ney's fee a~d coses of abstracts of t~tie, incurr~d or paid at any time by sa~d MORTGAG`E, because or in the eveN of the failure oo the part oflhe said MORTGAG.7R to duly, pranpt(y and futty perform, d~scharge execute, e(fect, canptzte, co~nply w~th and ab:de by each and every the st;pulanons, agrer,ients, conditions, and tovenants of said pro:nissory note and this ~~ortgage any or ei~her, and sa:d costs, charges and expenses, each and eve~y, shall be immediately due and payab:e; whether w not thare be notice da mand, attempf to coile~t cr suit pendi~g; and the fult amount oi each and every s~ch payment shalf bear imerest from the date thereof until paid at the r te oi n~ne per ientum F,~r annu:n; .;nc aii said custs, charges and expenses incurred or paid, together w~th such imerest, shall be secured by the Iien of th~s mortgage. 6. That (a) in the event of any breach of ~h~s Mortqage or defauft o~ th~ part of the M.ORTGAGOR, or ;b) in tha event any oi sa;d sums of money hrrein ~efer~ed to be not pro,np~ly and fully paid vvithin th~rty (30) days next att_r the same seoe~ally betorne due and payabte, without demand or no~ice, o~ lc) in thz event eath and every the stip~(ations, agreements, conditions and covenann ot sa.d promissory nota and th,s mortgage any or e~~her are not ~u;y, promptly and ivtly performed, d~xt~a~ged, eaecured, effected, completed, compLed wit6 and aL~ded 5y, then in e~ther or any such evem the aaid ag- qrrgate s~m mentioned in sald promissory note theo remaining ~npaid, with intere,t acaued, and a~i inpneys setured hereby, shall become due and pa~- jo a forthwith, or the~eafter, at the cp~ion oi sd~o ~Ltp2iGAGEE, as futty ar~ ~amp:e:c:~ as if a!t c! !fre sa~d Sv~+~S af mooey wcre o~~ginally snpu~ated >o be pa;d on such d~y, anything in sa.d p;c:n~ssory note or in Ihis Mortgage to the convary norwithstand,ng; and thereupon or thereatter at the option of s,.d MORTGAGEE, without norice or demand, suit at law or in equity, therefore or thereaf~er begun, may be prosecuted ts if a(i moneys secured hereby r.. d matured pnor to ~ts institutwn. 7. Ihat ~n the evenr fhat af fha 6eginning ef or at any time pertding any su~t upon this Mortgage, or to iorectose it, or to reform ii, or to enforce r~vment of any tl~irns hzreunder, sai~ MORTGA~FE shall apply to the Court having ~~r~sd~ction thereoi tor 1he appo:nt~nent of a Receiver, such Court shaff fcrthwith appoint a reteiver of said mort~agi-d praperty ai1 and singuiar, incivd,ng ai1 a~~d s~~~g„iar 1r7e i.^.con+e, ~:~ui~ts, iiiocs ar.d re:er:,:es f:a:a xh~!c~°r sc~.ce derived, each and every of wh;ch, it be~ng express~y ~nders~ood, is hereoy morrgaged as ii spec;ficalty set fo~~h a~d described in the gran~;ng and h.+bendum da~ses heraof, and such Receiver shall have all the broad and effecnve fun~f,ons and powers in anyw~se entrusred by a Court to a Receiver, a~~d - s_ch appointme»t shall br made by such Court as an admitted equity and a matter of absofure right to safd MpRTGAGEE, and wizhout reference to the adequacy or inadequzr~ of the val~e oi the property mortgaged or to the so.vency or insolvency of said MOR7GAGOR or the drfendants, and thal wch re•,rs, profits, i~co~ne, issues and revenues shail be app8ed by such Rece,ve~ atcord.~~g to tbe lien or equity of said MORTGAGEE and the prauice of such i Court. 8_ To duly, promptty and fully perfor~i, discharge, execute, effect, complete, comply with and abide by each and e~e~y the stipulations, agree~nents, :onditions and covenants en sa~d promissory ~ote a~id this mcrtgage set forth. 9. That in the event the cw~ersh7p of the mortgaged prenr;ses, or any part fhereo?, becomes vested in a person other than the MORTGAGOR, the n'ORTGAGEE, its wccessors and ass~gns, may, witho~t notice to the MORTGAOR, dea~ wrth such successor o~ wccessor in imerest wirh reference to this ~~~o~tgage and she dcuf hereby sewred in the same manner as wnh Mortgagor w~thout in any way vir:ating or d~scharging rhe P1lorrgagon' liability here- u^der or upon the debr hereby secured. No saie of the prem~ses h~reby mortgagcd and no forbearance on the part of the 111pR1GAGEE w its successors cr assigns and no eate~sion of the time for the payment of the debt hereby sewred given by the MORiGAGEE or its suctessors or assfgns, a~~all operate ro retease, d~scharge, modiFy change or affect the crig~na! )iab;l;ty of the MORTGAGOR here~n, either in whole or in part. 10. It ;s spec~f;ca;{y agreed that t~e,e is of the essen~e of th~s contract and that no waive~ of any obilgaflon hereunder or of the obligation s~ c~r~d hereby shali at any time thereafter be held to be a waiver of the terms hereof or of the instrumeM secured herby. ~ I1. tn aud.r~o~ ro the forego'ng ~rer.th!y µayn,c•nrs of prir;c pa! and interesr requhed by the p~onisscry r,o~r secured hereby, mortgagor epvenants d agr_es ro pay ro mortgagee v rth each mon+h'y par~~:enf an add~ronal sum est!n,ated by mortyagee to be eqval to 1, 12 of tl~e anr,ual cost of the follov~- n 3: . A-All real property ~axas lev~_d or assess~~d agai•1st the above desc.~bed real esfate. B--Pren,;u•;,s on fire ar.d .•.~ndsto:m inwrarce as nere~n reqv;red to b~ ca~ried on the [n,;~roveme~ts s~ruate on the abovc descr~bed prem'rses. C-Premiurr~s on wch rrortgage guaranty icsuracce as mortgagee sF.all fre:*~ ~:me to ti~r,~ deern iit ;o carry on the :oan tecured hereby: Morrgagee s6aU irom t~n~e to ti:r:e nor~fy mcrtc;~gor in wr~tmg of the amowt d~e and payable hereundar and such s~m shail thereupon be c~ue and ; a;able on the due ciare oi the next month!t payn,ent and each successive month thereafter ~r:ti1 mortgagee shall not;fy mortgagor tif aljl~dr~g Jn ~uch • ount. Such sum.s sha:+ be a~,~:'ied by morrga~~e totv,rd fhe payment of ~eal property taxes, insura~zca p~e.m:ums, and mortgage~'~iacidlty ~nSur,dnce - -i c •e~niums. ~ :.~4 r~~ , ~ I['ti ~ 1 IY Y1ITNESS Y'+'H~R~ , the sa M RTGAGO has hereunto set his hand and seaf the day and year fint aforesaid. f.~ f ' nefl, Sealed an deli ered h presertce j~ , , ~'~'il~~~A~~ • ~ ~ F11E0 AND RECORDEO gy . ' ' ~ ~ , ST.lUC1E~C0UMTY FIA. ~ ilton F. F1 ' ' - - ROC: ~atTe~lS ~ ~ " ' CLERK Ct?CUIT COURT . - : ~ j t' s ~ ~ - RF^.C~?~ VF'. -'r0 TTEST : ~ ~ ~ (Sea1 a ry ..F~: F yl nn, 5 ret ry '-(Sesq 8~~ i ~ ~ 3$ -12 - . _ 239~v~ ; STATE OF FLORIDA COUNTY OF ST. LUCIE ! HEREBY CERTIFY, That on this ~ day of- October A. D. 19 ~2 ~ . , before me personally appeared Miltan F. Flynn and_ liary F. Flynn ~ respectively as President and - Secretary , of ~ ~ _5, L, M. Development Corporation ~ a Florida Corporation, to me known fo be the persons described in and who execvted the foregoing instrument and seve~ally acknowledged the exe- cution thereof to be their free act and deed as such officers for the uses and purposes therein mentioned; and that they ° ; affixed thereto the official seal of said corporation, and the said instrument is the act and deed of said corporation. ` WITNESS my hand and official seal at Fort Pierce ^ ~ Thi s instrument prepared by COU a stat ~ j ~ John W, Collins ' ~ _ First Federal Savings and Loan Notary ubtic, in and pr e~nd ourit~.~oresaid. f ~ . ~ . . ; Associat ion of Fort Pierce, Florida My Commissian Expires:: • I _ ~ • ` fj~ . f. ~ _ _ vt i. IV ~ 1 A ~ . ~ Checked By _ M~ • ~OGK Paf,E yl! ~ . _ . ..._,,.1,.. ' . -