HomeMy WebLinkAbout3225 3. To p: :ce ard co:vi~i,o:.siy ~,~-ap on the L~i ~l~:.gs ~~c.v or ~ rra,ircr s Nate on s,,;d :a~~d and on a'! r:~.~~~::nrnt and penonally co.cr~d by this mortg-
e7z, w:th all pren„v•+is t1,~~eOn p3d ~n iull, f;rr ii:iuraoc~ :n the us~31 s+a~~,,:;! ~e'•cy a a~m a~uro~rd by the ^.1UR~:a%.CiiE, a:~~ v~~'~dito~m
nwrance in the ~sual S'J'1:JJRI ~:J~ Cy torm, in a s~m appro.ed Gy rhr MORTGAGEE, in such con,pany or co npart,es as the A~Jxllo.~vEf roey
d rrct; and alt (i~e ar.d w:~~dsronn inswance po:~c:rt on any of sa.d tw~id~ngs, any inte~e;~ ~herc~n or pdrt tF~~•ieof, ~n thr ayg•r3af_ svm afo~esa~d o~
in excess thereoF, ahaH :oro„n tha us~r.i sTand;~d n~ortg,gae uause or i„ch other c:euae as ~he 1.1c~~gayee may req.,,re, mal~ng thr tess undrr s~~d po!'r
~ es, each and every, pey,L~•r w sa~d „tJRiGAvfE as ss uu~~r~~st m.~y a~,pear, ar.d cach and elery w.h p~~,c~ iha~1 be p~ominiy ass g~,~~d and de:~.~•r, d fo
any hefd by s.~id h1pRIGi~GEE as i~.the~ securi~y to sa~d n~xtga~a dcbt, a^d, not !ess than 1en ~10) days aJ.ance of ~he ~aNir,t;~n of each po~~cy, ~o dr
,.er ~o sa~d S10RfG:.GEE a ~enr.vaf I~~~~eJf, 10961F12f NItFI d rrte~pt for thr prem~um oi such renr,na~; ar~d rF~~re ihaif be no t.r, or .,,~~~as~~~,n i~u„can;c
{',crd on arty of sa~d b;.~!d,~~ys, any int~rest thrre~n or part rherroi, unl:•ss in the form and w~th the ~oss payabie as afcaes~id; and in the a~r~~l any sum
ot n,o:~ey beco:nrs pa~aL:e ~ndcr s~cl: ~:o:~cy or poLc~rs s.~.d ~\10RiGAGEE sh~il have the opt:on to rea:i.~ .,nd apNly tnr sa:ne on accou:~t of rhe indc::tvd•
n.•ss se.ur~d har~~uy or to pe~:nrt za d MURTvAGORS to recrivr and ~se it or an~ p: ~h<. _of icr o:i~• r~.ur, c;,s. ...n,~.:t ~h cr ~~.p..,~-
~-y eny equ,ty, ilen or riyV:r ~nder or by ~~r~ue of ih~s mor:gage; and in the evrnt sa d At0~2iGAGORS shall 4or any reaso~ fail to keen ~he sa;d prem~s_s so
~~~sured, or f~if to d_ ~ver pr~~nptiy any of said F:ol:urs of insurance to sa;d MORfGAGEf, or 1;,+' pron:Nr~y to pey iu~ly uny pre n therc•tei or in a~~y
r=;F~~•c~ ie;1 to perforn,, ~,;:hd~ye, e¦e.~te, e`te:t, co~r,p~e<<~. co:~~ply w~+h and ab~de by thit covensi~, o~ any p.~:e h~reof. s~~d MGRi;,.>G~E ~~~ay p~atc• a o
c.~; fo~ s_•ch ins~r~nte or any pa;t u:areof w~thout vraiv~ng or affecfin9 any opt~on, lizn, equ:ty, or r~~M ur.c/:r or by v~rtue of rh~s hlorrgagc, a+~d the
amcum of each and r~ery s~ch paynr~nt sh~U br +i+~med~arely due and paya6ie and shail bear interes~ fr~~n th~ date ther~of ~util p,,~d at the ~.,ie ol
~~~~e ~>~r .en7wn ~;0~ dnn.rn .f~L'~ ti._)~Ihc! N~th SuCh ult~"t~it Sl~d~i ;)f s~~cured by the I~en of 1~1~5 RlO~ti]Agc'.
d. To perm~t, com~n;t er suffer no ~naste, i~r,pairrn~nT o~ deterrrat~cn Of said prepertY n a^Y f'd+~ ~h.~z°f•
5. To p.+y all and s~~~yu~ar the costs, charges ar.d exF:ensas, including a ~easooab!e atto~ney's fee ar.d cosrs of absrracts of tit•'e, in~urrzd o~ pa~d at
e l~y s,,~d MOR1GAvFE, brca~se u en ry~e event of ihe fa:iure on ihe pan of ~he sa~d MORiGAGOR to du~y, pron,ptly and f~~ly p~rfunn, d~xharge
~•:cutz, effect, tomp:ete, co-nF,ly w~th and ab.de by each and every the stipu'•a~~ons, agree~n~ms, cond~~~ons, and co~enants of s.~~d pron,~;sory note and it,~s
a~rgage any or e~~her, ar,d sa d c~srs, charges ond exFenses, each and evrry, shail be immed,ately due and payab:e; wh~~~her or not ih~•re be nonce dr
;nd, at~e:~~pt to co;lect or svit pend,ng; end the fui~ a~nount of each a~~d e~ery svch payn:em shail bear ;nferrs~ from ~he da~e :!:crre! v^!i~ pw~d at the
o• ~~~~,e ue~ c~~,:.: n;.~r nn~:~.,,; .,:~d a~i sald c~sfs, Cf~d19@S and e~~e~::_s inc~:red or pa~d, tog~il;rr .v~th such inrerrsr, sha:l be secwed by the hen ot th,i
•,orrgage.
6. Tha! (a; in the event of any b+cach of this Alorrgage or defaule on th~ part of the MORTGAGOR, or ;b) in tne event any of sa:d sums of money
h:~re~n ref~vred to te not pro~nF;tty and r~ily pa~d w~rh~n ~hr.ty ~30) days nex~ at:e~ the same se.era!iy become d:,e and payable, W~IIiUUt de:nand o~ ncr~ce,
in tha e.ene ~•ach and every rhe s~ipular,ons, agreemenls, tond~r~o~~s antl coveno~~;~ ~ a.d E~ro~~z~ssoiy norr a~~d ~h.s n:crtgage any or e~rF,er are not
i: promptly ar;d t.,!~y ~~erformrd, ds:harg_d, erewted, eiieued. cempteted, __mpi;ed w~~h and a6•ded ~y, then in elthrt or any such event ~he aa~d ag-
3ate wm menno ;ed in sa~d pronusso~y note than rema~ndng unpa~d, w~th inre~e,r aa~ued, and o:l moneys secured hereby, shatl becume d~e and pay-
forthwi:h, or tF:ereaher, at the ep!~on of s.,~d h~ORTGAGEE, as fully a~,d complnte~y as il a~l of the s~~d s~inf of money were or,g~na~ly s~!pu:ared
e be pa.d o~ wch J_r, an~Thmg in sa d prom~sscry note or in this hlortgage to the conrrary not.vithvanding; and thereupon or thereafte~ a! the ops;on of
-:t AIQRTGAGEE, ..~ri.~or ror~ce or ar~riand, suit at {aw or in equ~ty, therefo~e or thereaftcr beg~n, rr~ay be prosecuted as if all ~»oneys securzd hereby
f..:~ IITdTJft'~ P:~O~ ~O ~~S ~^S'.t~41t0~1.
7, ihat in ti,e evznt ihat at ?he beg~nn~ng of o~ at a~y time pe~d~ng any su~t upon th~s hlo+egage, or to forectose it, or ro re(orm it, or ro enforce
~.ment of any d;~ms F.ereunde~, sa+d 1.4OR7GAGEE sha;l epply to the Court havu~g ;unsd.cs~ur. the~eot for the appomt:nent of a Receiver, such Ccurt shail
i~:rnwith aNpoint a rece~wer oi sa~d mo~tgagcd property all and sing~':a~, includ,rtg a~l and singutar the ir.tortie, p~oF~ts, isiues and revenues trom whatever
s1,•ce d~•ri~ed, each ar,d every of wh;ch, it be~ng expressly unde~stood, is hereb~ me~eyaqed as ~f spec~f,~oily sel forth and destribed in ~he granr~~ig and
!:',.end~m clavsas hereof, and such Aecener Shail have atf the broad ar.d effec!~ve f~~tu.ons and pov~ers in anywue entruated by a Court to a Rec~i~er, and
s:h sppciMreent shali bc n,ade by svch Cou.t as an adm~tted equ~ty and a matte~ of absoiure r'gM to said MORTGAGEE, a~d wirhout reference to rhe
:_auacy or inadequecy ot tF.e vaiue of the p~oper?y mongaged or 1o the sc.vency or u:SG:v~My of sa~d 1dORiGAGOR o~ !he de4tnda:~ts, and that such
•~rs, proi~rs, inco~r.e, ~ssues and revenues shait be app;ird b~ wih Rece~ver ac.ord~~~g io ~he :~en or equity oi said MORTGAGEE and ~he prectice of s~ch
Co~rt.
8. To du;y, prompt!y a~d fv~ty perferm, d~scharge, execure, effen, comai~re, comply ~,~vith and abide by each and erery the stipulations, agreements,
d:~icns and covenanrs n s.+~d prom~ssory note and this matgage set forth.
9. That in the event tfir ownership of the mortgaged prenuses, or any part thereof, becomes vested in a person other than the MORTGAGOR, the
:~:RTGaGEf. ~~s succrsso~s a:.d ass~gns, may, wirho~t ronce !o the :VIORTGAOR, deal w+th s~ch successor w s~aessor in in~erest wiih ref~re~ue to th~s
:'~gaye acd the d_u! h_rcby srwred m the same manner as v+'i:h b•,ortgagor wrthput in a~y way vit:ating or dacha:g~ng the 1.lortgagori liab~lity hare-
_ Jer or upon the dabt h~ r~by sew~ed. No sa!a of the Fre~,~isas he~eby mortgaged ar.d no forbearen~e on the part of tha /~tpR?GAGEE or its wccessoa
,r ess•gns and ao ex~ens:on of rhe time for th? payment of the de6T h~rei,y secured given by the NIORiGAGEE or i~s succesaora or ass!gns, a~~all operate
ease, d~sche gr, mc~d.fy cna~:ge or a+fect the orig~nal liau:l~ty of ~he MORiGAGOR herem, either in whode or in part.
10. It is sperf~;a~iy aoreed thj~ nme is of the essence of thls cennact and that ~o waiver of any obf~gat~on hereunder or oi the ob!igation sr
cor_d hereby shall at ani tie.e th~reaf~er be heid to be a waiver ef the terms hereof or of the instru:nent secured herby.
! L !n =;id t!o ~ ro e~ foreye ~ig ~nenthi,, pay~r~nts ~f p;c-c ra! and interest reau~~ed by the p~om'zscry no~e secured he•ebr. ~t~ortgyyor tovenants
d a~rees to ~~ay to ~r:o-}gayee v.ath ea:n mc~xh:y pay~. ent an add:r~onat sum esr,~~.afed by mortgagee to k~ equai to 1 12 of thz a~~~iu3i cost of the foliow-
' A-.~ii r.at prope:ri r~,cas !ev+_~~ or dS5e15~•d ay.3~:sr the aLove descnEed r;:al estate.
! 8 F~.,•,.", r~s a:1 fi•e vi;ndsfo~:n insu~crce as nere~n .eq~,r~d to b~ ca:r.~-~ en the :mrroveme~~s s:ruate on th,r a6ove d~su~bed premises.
C-Pre~r,,, ~.s oz ,cch r,o:T~,;ne gua~an!y insvrar.cz as cr.o•t~ay-ee sf~al! frcm ~~r.e to h,n~ drrm fit to carry on the loan secured here6y.
P.!ortge,aae she.l irom +:e to t~r.,e rcrify mertgagor in writing of the amo~nt due and payable he~tundar and wch sum sh.;!1 lhcr~upon be due and
...-bte on ?h„ due ca~e of fhz ne.t ~;~on~h:~ payment and each successive n,onth thereaft,+ ucti; me+tgagee shall notify mo•tgagor of a efi~nge iR such
. . ...,n7 ^h h . , .
Su_ su•-z s a' be ar;~.~_.1 by mortgag~;e :ov.a-d the payment of real Fropert~ raxes, insurance p~em,ums, a~~d mortgage ~~~r~~rtx insurence
. • ~,~.,ums. ^ 'ir, .
iN l':ITh~ESS •~+H~REOF, the sald MORSGAGOR has hereunto set his ha+:d and seal the day and year (irst aforesaid. ~
S~gned, Sea`ed and delivered,~n the presence ot: PEARL NSTRLiCT~'QI~ CO~ ~~~~t,-"~5,~'~~
! ' fILED AN~ RECdRDEO U • a
; - - - st. ~uc~E couMtr f~A. Rv • - ~
FiOCfR P01TRAS ;~a!!:
` ~ s
_ , eP~~ ~ ~ CIERK C~,~~Ui1 COURT ~ + Ga~ir-- . Pea - ' .r ~ ~a~~:
; , RFCARC VER'%IED ATTEST: - :~~ai~
' ~ ~ YGi iJ ~l ~9 PN ~IZ Philip P r ~,ci` tary-Treasurer
i ~:/v ~
; 2~3'789
~TATE OF FLORIDA COUNTY OF ST. LUCtE
' I HEREBY CERTIFY, That on this ~ • L%_
. ~ay of- - - --~C..~..[IS.~t.~'-- - - A.D. 19
E - - .
f before me ~ersonally appeared Ga ry L._ Pea r l_^_' and _ Phi l ip Pea rl ,
~ respectively President and Secretar - Treasurer , of
' Y
; .
; pearl Construction Co., Inc. Florida Corporation, to me
- - - a -
kno~,+vn to be the persons described in and ~r~h~ executed rhe foregoing instrument, and severally acknowledged the exe-
cution thereof to be their free act and deed as such offiter; for the uses and pur~ses therein ment ~dy ai1Ei~}f~at they
a'fixed thereto the official seal of said corporation, and the said instrument is the act and d~8d''of ~aid corESqration.
: !.iQ r
'~Y17NE~S my hand and officia! sea! at Fort Pierce said county anci t~att~. ~ ~ ~
~ This instrument prepareci by ~ f_
~
~ John W. Collins '~C - -
~ ~irst Federal Savin gs and Loan , tary P:Gc, in and for State an",~~
n
t~r...orPS a
~
t'c~:`
~ Association of Fort Pierce My Co "ission Expires: i-,
" ~
~
Checked By~~ - ,
~ ~ ~~~~x~V~ ~A~r ~
js
~
_ . - - -
~ . - ,