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Home My WebLink About2751 3. To place and coroinuous:y Aeep on fhe bui:d~ngs now or hereafter situate on said ~and and on al; eq~ipment and perso~ally covered by this mortg- egr, w~th all premium~ fhzreon pa d in full, f~re insurance ~n ~he vsval standard pol~cy form, in a sum approved by the MORivAGEE, and winds~o~m ;nsurance in the usual s~a~:dard po:.cy (o~m, in a sum approved by ~he MORTGAGEE, in such company or compan~es as the MORTGAGEE may durd; a~d all (i~e and w~nJifuim i~surance pol~cies on any o( sa~d b~ild~ngs, any interest therein or parf the~eof, in the aggregata sum aforesaid or in excess Ihereof, S~~d~) :UnId~O ~he ~sual standard mortgjgee clause or such other dause ~f the Mortyjgee may req~lro, making the loss undrr sa~d po~i- c~rs, each and e~r~y. payobte to sa~d ~\~JRTGAGEE as its ~n~erest may appear, and each and every such poi~cy shetl be promptly ass gn~d and dei~.er.•d to eny held hy said MORiGAGEE as f~~ihrr security to said mortgage debt, and, oot less ~han te~ (10) days in ad.ance o( the e.pira~~o~ oi each pofity, ro de- fver to sald MOR~GAGEE a reaewal ~hereof, toge~he~ with a recript ior the premium of such re~~ewal; and there shall be no f~re or w~~~~1s~u~m insur,~nce plated or+ any of sa~d build~ngs, any interest there~n or part thereof, unlrss in the (orm and with the loss payabte as a(oresaid; and in the eve~t any sum of monry becomes payab:e undrr scch policy a pul~cies said VIORTGAGEE shall have ~he opt~on to rece~vr ..nd appty the same o~ account oi ihe indebtad- r.eu iecwed hrreby or to perm~l sa~d MORTGAGORS ~o receive and use it or any part ~he~eof lor oti,rr pur~ osrs, .•.nho~~ ~h~~~ u, .v.:~+~ ~3 ~•~•p-~~'- in~ any equ,ty, Geo or r~yh~ undr~ or by virtue of this ~nor.gage; and in the event sa~d MORTGAGORS shaU (or any reason fait to keep ~he sa~d premis:s so ins~red, w fail to delive~ prornptly any of s~id poGties of insurance to sa~d MORiGAGEE, or fa~l promptfy to pay tulty any pir~n:vm thrrefor or i~ a~y respect fai; to pe~form, d~scha~ge, exetute, efiett, tompleta, tomply with and abide by this tove~~nt, or any pert hattOi, sa~d MORTv4GEE may piece a~~d pay for such insur.,nce or any part theraof wnhout waiving or afFec?ing any option, lien, equay, or nght under or by virtue of this Mortgage, and the t~:l amoum ol each and e~e~y such paymant shatl be immediately d~e and payable and shatt bear interest f~om tFw date ~hereof untif pwd at the rafe o1 ~:,ne per cenl~in per ann~,n and to~rth~•r wuh such inrerest shal~ be sewred by the 6en of th~s mortgage. To permit, comm~t or a~ffer no waite, impa~rment w deter~oration of said property or any parf thereof. S. To pay a'.I and s~ng~tar the costs, charges and exoenses, including a reasonable attorney's fee and costs of abs+racts of titte, incurred or paid at any t~~~:e by aa~d MORTGAG:E, because or ~n the event of ihe failure on the part oF the said MORTGAGOR 1o duly, promptly and fu~ly pe~form, d~scha:ge. _.ecute, etfec~, complere, comply w~th and ab:de by each and every ?he stipulahons, agreements, conditions, and covenants oi sa~d prom~ssory note an~l this -,ortgage any or ei~her, and sa:d costs, chargez and expenses, each and every, shall be immediate~y due and payable; whr~her or not thar~ be no~~cr de mand, attempt to co~led or suit pend~ng; and the full amount of each and every such paymem shal! bea. imerest from Ihe date the~eof until paid at the rr e' nmr uer cent~m Ne~ dllli~.:~l~ and all said costs, charges and exprnses ~rxuned w paid, together w~th w.h interest, shall be secured by Ihe lien of th;s mortgage. 6. That (a) in Ihe event of a~y breach of this Mo~tgage or default on the part of the MORTGAGOR, or (b) in the event any of sa:d sums of money herein referred to be not prwnptly and fully paid within thirty ~30) days next afrer the same several~y become due and payab~e, withuul demand or ~otice, or ;c) in the event esch and every the stipulat~ons, agree~nents, tond~rions and covenams of sa'.d promisscry note and th~s mortgage any or enher are not i~ly, pro:npily and fully performed, d~scharged, executed, ef(ected, completed, compGed with and abidrd 5y, then in e~ther or any such event the ~a~d ag ~~rgate wm mennoned in said promisso~y note the~ remaining unpa~d, wi~h interest accrued, and a1: moneys secured hereby, ahalt become due and pay- eo;e fc~thwith, or therrafte?, at t6e opuon of said MORTGAGEE, as fully and complete~y as if all of ti~e said sums of money were o<<ginatly st%puta~ed re be pa~d on such dcy, any~hing in sa:d pro:n~ssory note or in this Mortgage ro the contrary notwithstanding; and thereupon or thereafter at ~he opt~on of s~ d MORTGAGfE, w~~hout nor;ce or demaad, su~t at law or in equity, the~efore w thereafter begun, may be prosecuted as if all moneys secured hereby r._d matured pnor to na institut~on. 7. Tha? in the event that at the beginn~ng of or at any t+me prnding any suit upo~ this Mortgage, or to foreclose it, or to refwm it, w to enforce ;:3yment of any ciaims he•runder, safd MORTGAGEE shall apply to the Cowt having jurisdlct~on thereof for the appointmeN of a Receiver, such Court shall rwthwith appoiM a rece~rer ot said morlgaged property all and singv!ar, intlud~ng all and singular the +acome, profits, iss~es and revenues from whate~er source derived, each and every of wh:ch, it be~ng expressly understood, is hereby mortgaged as if spec~fically set forth and described in the gran~ing and habendum cla~ses hereof, and such Receivar shall have all the broad and effective funct.ons and power} in +~1yw~as,envusted by a Cowt to a Receiver, and s~ch appointme~it shall be made by such Court aa an admitted eq~ity and a matter of absolute right to teid• NIORTC~GE~, and without reference to the a.icq~acy or inadequacy of the vatue of the p~operty mortgaged or ro the so~venq or ~nsoivency oi said MORiGAGOR a~the defe~dants, and tha~ such re~,ts, profiss, income, issues and revenues shall be applied by such Receiver accordmg to the Iien or equity of aaid MORiGAGEE and the practice of such I.JJft. 8. io d~ly, promptly and fuily perfo~m, d~scharge, execute, effect, comp!ete, comply with and abide by each and every the stipulations, agreements, ~o~d;t~ons and covenants ~n smd promisswy not. and this mortgage set forath. 9. ihat in the event the ownership of the mortgaged prem~ses, or ai~y part thereof, becomes vested in a person other than the MORTGAGOR, the .'ORTGAGEE, its successors and assigns, may, wi~hout norice to the MORTGAOR, deal with such svccesser o~ successor in interest with reterence to this o•~gage and the debt hereby secured in the same manner as with Mortgagor without in any way vit:ating or d~xha~9~ng the Mongagors' liability here- er or upon the deb~ hereby sec~red. No sa!e of the premises hereby mortgaged and no forbearance on the pan o~ ~he MORTGAGEE of its successors c- ass:ans and no extension of rhe time for !he payment of the debt hereby secured given by the MORTGAGEE or its successws or ass~gns, aS:all operate !o re+ease, d~scharge, modify c!~ange o~ affeu the orig~nai lian~bty of the MORTGAGOR here~n, either in whole or in part_ 10. It is spec~tically agreed that t~me is of the essence of this contract and that no waiver of any obligation hereunder or of the obligatan sN ;ured hereby shalt at an~ time thrreaFter be he2d to be a wairer of the terms hereof or of the instrument secured herby. I 1. !n add ~~o:: ro fhe fo.ego ng momh'y paymsnts of princ aal and ineerest requ~red by the promissory no!e secured hereby, mortgagar covenants d agrces ro pay to n:orrga~ec ~nah each mo~th!y payr•~ent an add~~ional svm est~~rated by mortgagee to be eyue~ to 1; 12 of thr annua~ cost ef tne follow- 3; A-A~I real prope~ty taxas lev~ed or assessed agai•~st the above described real estate. B-Pr~~n:~ums on f~re and windsto:m insurar.ce as he~e~n requ:red to be carried on ~he imp~ovemeots s~tuate on the above dascribed premises. I; C-Pre~~~~ms on such mortg;ge guaranty ir.surar.ce as mo~tgagee shail irom nme to time deem fit to carry on the loan secured hereby. ! Mwtgagee shail fro:n ~ime to ~ime not~fy mortgagor in writ~ng of the amount d~e and payable hereunder and such sum shaU thereupon be due and j .:,:ble on the d~e date of the ~iext month;y payment and each wccessive month thereaft_r ur,til mcrtgagee shall not~fy mortgagor of a change in such ~ ' ovnt. Such w~ns st a:l be apF•~ied by mortgagee toward the payment of real praperty laxes, insurance prem:ums, and mortgage guaranty insurante . ~~niumS. ` I~~, \VITNE55 ::HERECF, the sa~d MORTGAGCR has hereunto set his har.d and seal the day a d y r fint afore id. ~ /~/S~gned, a~ed and i~!ivereyATn the presence of: ~ ' . i~a ~_7 ~~`~.l.tit~~v~j - Seal) ~ TT-> : O D S 1'1 e CSesq ~ . _ 1 ~ =_2 - J_ , ff : ~ ~ aq ~ - - ..mma .Te a avor e cs~a~ a S;~TE OF RORIDA ~ u. ~i:U!JTY OF _ Sti. Lucie ~ , Before me personally appeared John m• Favorite and ~.'11II11a .Tean Favorite h;, w;r~, to mt well known and known to rtx Td=b~ ~ r~: individua!s described in and who executed the for oing instrument, and acknowledged before me that they executed the same fw• the purpdse! rh•rein exp~essed. And the said Emma .T~BY~~F'avorite r;::.• ~ `a of the :~;a Jo~n T .T'~aVOT'~t9 upop'a ~arate~anil private e.a~n:nat:on by me taken separate and apart fiom her said husband, acknowledged to and before me fhat she exewted seid~ytium~lit fre~ly ah~'volurr~ .~y and w~thout any compu~sion, constraint, apprehens.~r~ or fear of or fr~n he~ said huaband. - . V•'l ' ~ ~ .-v _ ~ WITNESS my hand and offiual seal this day of ~ De cember ` ~ a~ L ~ ~ ~ =~r.; -~vs' s~ _ ~ ~ : ' - _ ' ~ Notary PubGc in. and" (or the State F14f~ds ~ larpe.~~ : . - My Gommission eapiresi 'l, ~ • ~ ~ Return To: ~ i~i~. S n t ~ first Federal Savings b Loan Associahon ~ ~ Of fcrt P.erce. For: Pi?rce. Florida FtlEt~ A~~ RECORDED ST LUC~E ;,CUN11' fLA. ~ RCG~~ F~ ,'~AS t~' ~ CIERX C:" r;1lt COURT ~ ~ This Instrument Prepared By Riehard K. KB~BS RECr,.an v~~ =~fD~~ ~ First Federal Savings 8 loan Association n~. ~ af Fort Pierce , Florida ~KC ~1 9 os AH ~11 ~ ~ Checked By 2434'79 ~ ~ ORr~ p BOOK~VO PAGf~~~ 3 : - - - ~ . 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