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Home My WebLink About0152 3. To place and cont~nu~usly kzep on the bul'dinga now or herea{re~ siruate on said land and o~ al~ equip~nent and pe.sonaliy tevered by lhis moreg- ege, wifh all premiums rhere.x~ pa~d in fuil, iiro insurance in tFie vfual i~arn~ard policy form, in a sum ayproved b~ the MORIGAGEE, and windstorm insurance in the uaual s~andard pol:cy (am, in a sum approved by ~he MORTGAGEE, in such company or com,^.anies as the MORTGAGEE may d~rect; and all fire and w~ndsw~m imuronce policies on any of uid buifd.nps, any iNerest the~ein ot pare the~eo(, in Ihe agg.ega+e s~m aforesaid or in excess Ihereo(, sAall contain ~ha usual s~anda~d mortgagee clause o~ such o~her ctaus~ as the Matyagee may rcquire, maki~g the ios~ undrr smd poli- des, each and every, payabla ro said MJRTGAGEE as its inW4est may appear, and each and e~ery such pollcy shall br promptly ass g~~ed and desivered ~o any held by said MORiGAGEE as furiner security io said mortyage deb~, and, not Iess ~han ten (10) days in advance of the expirat~on ot each policy, ~o da I~ver to said MORTGAGEE a renewal thc~cof, togelAer with a rece~pt fw the premium of such renewal; and there sha!I be no fire o. windstorm insurance p~eced o~ any oi said buildings, any interett therein w part thereof, unless in the iorm and with the iosi payable as aforesaid; and ~rt the event any sum of monsy bccomes payable under sutA poticy d poticies said MORTGAGEE shalt have the opt~on to receive and apply th>_ same on account of tha indeuted ness secured hareby w to permit said MORTGAGORS ~o reteive and use it w a~y parl thereof lor otnir purNoses, wnt:o~t fh:+: u~ w~ivin3 or u,:, ..ir- ing any equ~ty, lien w right under w by virtue of this mo:fgage; and in the evenl u+d MORTGAGORS shatl (o? any reas~n Fail fo keep the sa~d premisa~ ~o insured, or fail to deliver prarptly any of said policies oi insura~te to sa~d MORTGAGEE, or fa~l p:omptty to pay fulli any pre~niu,n therefor o~ i~ a~y respect fail ?o pe~form, d~scharge, exrcute, effec~, complete, comply with and abide by this covenant, w any pa~? hareof, said MORTGAGEE may piace and pay for such insurance or any part theeof wnhoul waiving or aifectioy any option, lien, equ~fy, or r~ght under or by v~r~ue of ~his Mo~tgage, and the futl amount of each and eve~y such payment shalt be immediately due and payable snd shall besr intere~t from ~he date thereof until ~a~d at the ra~e ot ~~~e pcr centum pe~ annum and to~zthrr w~th such interest shall be sewred by the lien of th~s morlgage. 1. To pt~mit, tommit w suifer no waste, impairment or deterioration of said prope~ty or any part thereof. S. To pay all and singula+ the costs, charges and expenses, including a reasonabfe atto.ney i fee and cos~s of abs~racts of titte, incu?red or pa~d at a~y time by said MORTGAG:E, becavse w in the event oi the fa~lure on tFx part of Ihe said MORTGAGOR to duiy, promptly and fully pe~iorm, d~scharge. execute, effect, c~„pieta, comply w~tn and aL:de by each and every ~he stipu~atlons, agreemems, condin«u, and cove~ants of sa~d promissory note and ~h~s mortgsge any w either, and aa~~ c~cs, :ha~3as and expe-_:-. --a ti• immed~ately due and payabte; whefher or nct fhere be nonce dr mand, attempt to coltect or suit pending; and the full amounf of each and every such payment shali bear 4nteres? from the date thereof until paid et the r„te of nine per tenWm per annu;n; and all said costs, ~harges and e.~nses incurred or paid, together wJh such inte~est, shall be secured by the I~en of thif - mortyage. 6. That (a) in the event of any breach of this Mortgage or defaull on the part of the MORTGACsOR, or (b) in the event any of sa:d sums of money herein refrrred to be not p~omptty and f~l1y paid within thnty (30) days next after ~he same severafly become due and payable, withoul demand or notice, or (c) in the event each and every the stipu~at~ons, agreerrKnts, conditions and covenants of sa.d pro~~issory note a~d th:s mo~tgage any w e~rhe~ are no1 iuly, promptly and lutly perfwmed, d:i:harged, executed, effected, compteted, compl~ed with and ab~dad by, then in e:ther or any such event the sa:d ag g~egate sum mentioned in said promissory note then rernaining ur.paid, with intere;t accr~ed, and atl moneys secured hereby, shall become due and pay- abie forthwith, or thereafter, at the opt~on oi said MORTGAG~E, as fully and completety as ~i aii oi tne saia suma e~ money vvere onginalty ttipviated ro be pa~d on such day, anything in w:d promissory note or in this Mortgage to the contrary notwithstanding; and thereup•~ or thereafter at ihe opt~on of said MORTGAGEE, without notice w demand, suit at law or in equity, therefore or thereaiter bzgun, may be prosecute~ as if all moneys secured F~ereby had matured pnw to ~ts institution. 7. That in the event that at the beginntng af or at any time pending any su~t upon this Nbrtgage, or to fwec!ose it, or to reform it, or to enforce payment of any claims hereunder, u:3 MORTGAGEE shall apply to Ihe Court having jur~sd~ction thereof for the appoinfinent of a Receiver, such Lourt shall Eertnwith appoint a receiver of said mortgaged property all and singular, includ.ng atl and singufar Ihe income, profits, issues and revenues from whatever seurce derived, each snd every o! which, it being expressly unde:s!o:~, is hereby mor~gaged as it specifically sel farth and dexribed in the g~anting snd h~ixmlum clauses hereof, and sush Recei.~er shall have all the broad and effective tuncf~ons azd powers in e~ywise entrusted by a Court to a Recei~er, and s.:h appointmsnt shall be made by s:Yh Court as an admitted equity and a m.aner of a6solute r~ght to said MORiGAGEE, artd wi~hout re(erence to the a~equacy or inadequacy of the val~e oi the properfy mortgaged or to the so:vency or insoive~xy of said MORTGAGOR or the defendants, a~d that s~rch r~•nrs, profits, incorne, issues and revenues shall be app{ied 6y such ~.eceiver accord~ng to the lien ot equity of said MORTGAGEE and the practice of such ! Court. 8. To duly, promptly and fully perform, discharge, execute, eifeU, complete, comply with and abide by each and ever~ the stipulatio~s, agreements, conditions and coveoanrs ~n sasd prom~ssory aote and this mortgage set fwth. 9. That in the event the owr_rship of the mortgaged p~emises, or any part the~eof, becomes vested in a pe.son other than the MORTGAGOR, the ti~.ORTGAGEE, irs successors and a:sig»s, may, wirhovt notice to the h10RTGAOR, deal with such successor or successor in interest werh reference to this r, o•tgage anci the debl her~Ly secured in the same manner as with klortgago~ with~ut in ~~y way vitiating or d~uharging the M1Aortgagors' liability hero- - ~^der or upon the debt hereby sec~red. No sale of the premises herzby mortgaged and no forbearance on the part of ~he 1~10RTGAGfE_w its succeswrs o. ass+gns and ~o exrension of the rime for rhe paynent of the debt hereby secured given by the MORTGAGFE or its successors or ass~gns, a~zall operate ~ ro release, d~scharge, modify change w affect the origmal liao~tity of the MOR~GAGOR herein, eilher in whole or in part. 10. H is spec~f~ca1{y agreed that ttme is of the essence of this contract and that no waiver ot any obl~gal:on hereunder or of the obligatio~ se- cvred hereby shall at any time thereafcer be held to be a waiver of the terms he:;.wf or of the instrument secured he~by_ 11. In add.tion to tne forego .-.g month~y payments of prirc pal ar.d iMerest required by the prom;ssory no!e secured hereoy, mortqagor covenants e~d agrces to ;uy to mo:tgagee v+~rh each ,-onfh'y E.ayr.:ent an add~rional sum est~r.,ared by morsgagee to be equat to 1; i2 oF tl~ an~~al cost of the fotlow- ~,:3. A-All real property taxes lev~ad w assessed against the a6ove described real estate. ' B-Pr~m~u~rs o~ fira and w~nd;torm ~nsurar~e as here~n requ~red to be carried on the improvements srtuate on the above desc:ibed premises. ' C-Prem~urns on such morigage guaranty inwrar~ce as mortgagee sha~t from t me ta t~me deem !it to carry on ihe ie,an secured hereby. ~ Mortgagee shaEl frcm ~ime to rime not~fy mo~rgagor ~n writ~ng of the amount dve and payable hereund~r a~ ::;ci, sum s~al~ thereupon be due and : ayable o~ the due date of the next month'y paym~nt and eacb S____..E~2 -:min ::-.r.rei:cr ur,fil mortgaqee snelt rtt)fify morina~or nf w ~hanae in suth j~;ount. $uch sums si~aii be app~~ed 6y mortgagee toward the payment of real properry taaes: insurance p~ern.umS, and mortgage guarant~ inswance p•emiums. .~.~~r.,; - ; IN 1YITNESS ~'+'HEREOf, the sa~d MORTGAGOR has hereunto set his hand and seal the day and y r first aforesaid C L. ` igned, Seaie delivered in the piesence of: 1 ~~Z. ~~T ~ ~ ~ ~ ; ~ ; _ LLD AND E R ~f~ C • ~ ~ _ r ~1, LUC1E G4U~Y flA. ? - _ •.,y~aq ~ G ~ R4~ER ,~0lTSA5 ~ ~ . ~ CIERK Cs~?CU1T CO{iRt~ Y• - ` +4; ' ~ _ = . R[~eRC vEK~F~ED.~.~.~~.. ^ aly . i ~ ~l , , - € ~ i6 4 ~o PM'~`~T' ~ - - T~?s'ti~~Y•~~ ~ raN.~~-~:~ Pm. ~q~3 2?~5818 - 1~;~~~ ~ ~TATE OF FLORICA COUNTY OF ST. IUCIE ~ ~ I HEREBY CtRTIFY, That on this _day of_ •7~?nuarS? _ , A.D. 19 73 , ~ before me persor.~lly appeared GaZV L~ Pearl and Philip Pearl s ~espectively President and Secretary - Treasurer _ , of ~ Pearl Co struction CQ.~__Inc. Florida ~ - a _ - Corporation, to me : known to be the persons descrioecJ in and v~ho executed the foregoing ins~-:,men~, and severally acknowledged the exe- = c~ron thereof to be their free act and deed as such officers for the uses and pur~oses therein mentiortt.+~i#uJ,.,that they i c "f afiixed thereto the official seal of said corporation, and the said instrument is the act and deed~ pf•ssial.~~cfs~hsation. , ~ ;r . ; ~VITNESS my hand and official seal at Fort Pierce -~r-, said county and ate. n~T~~ = j i'~ ~ Y.:' ;t This instrument prepared by ~ , ~ ~ , ' _ .!ohn W. Collins ' ~ ~ ~ y First Federal Savings and Loan Associatio tary , ublic, in and for State an~;, oun ~o~~aicJ. 4 y C rr,ission Expires: ~ ; Fort Pierce, Florida ~~Ry p(J9~ic. srAT~ vt f[ORIDAat IARGE MY COMh11SS:G.'~ EffP1RES OEC. 29. 1975 BonOed ihru Generot Insu~ance Uoderwrften. ~ Checked By ~ ~ ~ s~~K2iQ ~~~f 152 j ; ':3 . 1 . .r-- c~fu.~.. . _,._.2 _ . _ - _ _.....a-_