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3. ~a pt~c~ ~.~d continuously krep on ?he b~i:dings naw a hereaiter ~itwte on sa~d tand and on aN cyLipment snd perwnelly cover~d by ~his mortg-
eg~, w~th all premiums ~hereon pa~d in full, hre i~sur~nce ;n il,e usual sur,derd poGCy torm, in a sum aFp~o~ed by the MORCGAGEf, ar.d w~nds~o~m
~nsurance i~ the uiusl a~andard pol~q form, in a sum approrad by tAe MORIGAGfE, in such c~npeny w compan~es as the MORIGAGEE msy
di~Kij and ~II fir• ~nd windst~rm inwrance poLcies on any of said buitdm9s, +ny in~ere~t ~herein or pa~t ~herrwf, in the aggrega~e sum aforesa~d w
in extts~ thereof, shall contain the usual standard mwtgaget t~~ute a such oihe~ ttaus~ •s rha Morrgages may ~cqw% makin~ the ~oss under sa~d poii-
c~es, eath and every, payable to sa;d A1pRiGAGEE ~a ~ts iroerest may appear, and each aod eve~y ~uch poi~cy shall ix prompUy e~s g~~cd an~ de:ivetrd ~o
sny he{d by seid MORTGAGEE ss iui~he~ secwiey to said mo~tyage deb1, and, nol less than teo p0) days in advance o1 ~he e+~piration of each pol~cy, to de-
I~ver ~o sa~d MOR~GAGEE a renewal thereof, toqerher with a rece~pt fa the prtmlum af such renewal; and ~h~~s shall be no f~re or w~nds~o:,n insurar+ce
p~stad o~ any of said bui!di~~gs, any intere~t there~n a part thereof, untcss in the foim snd with 1he loss p~yable as aforesaid; and in Ihe eve~+l any sum
of mon~y becwnei paYabte w.da such policy w pol~cies said MORiGAGfE shall have rhe opt~on to recr~ye and apply tix sama on eico~n~ o( the indrbted-
nr:s secwed ?x~eby o. to permit said MoRTGAGORS ro receive and use it p any parl Ihe~eoi for other pwposes, v.:~hu.,t sh_.~u~ wa~.~ a u~~pa~r-
ing any equity, lien a right unde~ ot by vi~tue of Ihis mor!gage; ~nd in the event taid MORTGAGORS thati for any reaso~ fsil to keeF rhe ~a~d p~em;sri so
insvred, pr fail to deliver p~omptly any pf said policies oi insurants Io ssid MORTGAGEE, or fail promptly to pay fully any pre~n~~m ~hereio~ or in a~y
re~pect fail to pHto~m, discha.ge, execute, ef(ed, complete, comply with and abide by this tovenant, o~ any par~ hareof, said MORTGAGEE may piate a~~A
pey tw such ineu.ance or any part thereof wi~hout wsiv~ng a affectirg any optian, lien, equ~ty, a riqht under w by virtue of ~his Mortgage, and fhe
f~ll s~na,nf of esch and every such payme~t shall be ~m,nediately due and pay+ble and shall bear interest from the date thereof umil paid a~ ?he rate of
n~ne per cent~m pe~ annum and to~ethe~ with such interest shall be sec~~ed by the iien of this rtwrtgage,
To permif, commit or sufte~ no wa3te, impairmrnt o~ deter~oration o1 sa~d property w any part the~eof.
5. To pay aIl and singular !he costs, charges and expenset, including a+easonable attwncy'a fee and cos~s of absf~acts o( title, incurred w pa~d at
any time by uid MORTGAGEE, because ot in the event of the (a~lure on ~he part of ~he said MORiGAGOR ~o duly, promptly and lully pe~fw~n, d~sch~rge.
e,cecute, e~fect, complrte, comply w~th ar.d ab~de by each and eve~y ~he stipuiauons, sgreements, condit~ons, and covenants of said promissory note and ~his ?
.~:ortgage any W either, and sa;d cosrs, chargef and e:pensea, each and evcry, shall be immediately due ar~d payable; whether w not there be no~~ce dr
mand, attempt to colled or suif pending; and the full amount of esch and every such payment shafl bear interest f~om the date thereof u~tit paid af the '
r.,re of n~ne per ce~t~en ~r annu:n; and all said cosK, cha~ges and exrxnses ++xurred or pa~d, togethe~ w~th such interest, shall be secured by the t~en of thb
mortgage. ~
6. Thst (a) in the event of any breach of ~his Mortgage w default on the part of ihe A10RTGAGOR, w(b) in the eve~t a~y oF aa'd sums of money
he~ein referred to be not prompt(y and fully paid w~thin thuty (30) days ne~t afte? the same severally become'due a~d payable, without demand or notice,
or jc) in the event each and every ~he s~ipu:ationa, agreements, condit~ons and covenants of sa:d promissory note a~~d ~h~s mortgage any o~ e~thcr are ~a
ivly, prompdy and fully pQrformed, d~scharged, executed, eifected, canpleteo, compLed with and ab+ded `~y, then in e;fher a any suth evenf Jhe sa~d ag ~
qregate svm mentio~ed in said p~omisswy note then remaining unpaid, with inte~esl accruzd, and ill moneys setured hereby, shall becoma due and pay- 7
eb'e forthwith, or rhereafter, at the opr;on of seid MORTGAGEE, as (ully and comple~ely as if a~l of ~he sa~d svms of money were o~~9ina~ty snp~:ared z
ro b~ pa;d oo such day, anything in sa:d prom~ssory note or in this Mortgage ?o tF~e contrary nofwithstanding; and thereupon a therebfter at the opt~on of
s~:d MORTGAGEE, withaut noncr w demand, suit at'law or in equ~ty, therefore w thereafter begun, may be proaecuted as if all moneys secured hereby
n~d matured pnw to ~ts inatituaon.
7. Thjt in the eve~t that at the begir.n~ng o{ or a? any time pending any su~t upon thi~ Ntortgage, w to foreclose it, or 1o refwm it, or to enfores
naymeN of any da~ms hereunder, said MORTGAGEE shap apply to Ihe Co~~t having jwisd~u~on thereof for the appointment of a Receiver, such Coun shall
i;;:±hwith appoint a receiver of said mortgaged property aIl and singvlar, includ:ng atl and s~ngutar the income, pro(~ts, isaues and reve~ues from whaterer
s,^urce derived, each and eve~y of wh:ch, ~t be,ng expressty unders~ood, is hereby mortgaged as if spec~iicaily set (onA and described in the granr~r.g and
habendum dauses hereof, and such Rcteiver shail have aU the broad and effective (uncuons and powers in anywise em~usted by a Court to a Receiver, and
s_ch appo~ntment shall bc rr:ade by such Coun as an admitted equity and a matter of absolute tigh/ to said MORTGAGEE, and without teferense to the
adequacy or inadequacy of the value of the property mo~tgaged or to the sotve~cy or insolvency oF said MORiGAt',OR or the defe~,dants, and that auch
re~~~s, proiits, income, issues and revenues shall be applied by such R~ceiver according w the lien or equity o( said MORTGAGEE and 1he p~ac~ice of sucb
GovrL
8. To dufy, promptty and fully perform, d~scharge, exec~re, effect• compleie, comply with and abide by each and every the st~pulations, agree~nents,
co~ditions and covenants ~n sa:d promisaory note and this mortgage set fwth.
9. That in the event the ownership of the mortgaged premises, a any part thereo/, Eetomes vested in a perwrt other than the MORTGAGOR, the
'.:ORTGAGEE, its wccessors and as4gns, may, w~thoui nofice to the MORTGAOR, deal w~th such svccessor o~ sutcessor in imerest wi~h reEerence to th~~
or~gage and the debt hereby secured in the same manner as w~th Mortgagw witFwut in sny way vitiating or dixharging the IAortgagors' tiab~lity herr
under or upon the debt hereby secured. No sate of rhe Fveneiscs he~eby mo~t9aged and no forbearance on the part of the MORTGAGEE w its successws ~
er asaigns and no extension of the time for ?he payT~ent of the debt hereby secured given by 1!x MORTGAGEE or its successors or assigns, ahall operate
to refease, d~scharge, modi(y change or affect the original (iab~iity of the MORTGAGOR herein, either in whole or in parr.
i
10. It is spec~ficaliy agreed that t~me is of the essence of this contract and that no waive~ of any ob~~gation hereunder w of the obtigatan se-
cured txreby shail at any time ~hereafter be he:d to be a wolver of the terms hereof w of the instrumeM secured herby.
11. In add:tio~ to the iorego ng rno~th'.y paym~nts of princ"pal and intzrest required by ~he prom~ssery no!e sewred hereby, mortgagor covenants
ar.~ agrees to pay to mortga~ee v ith each manrhly payr-ent an add~~icna! sum estmared by mortgagee-fo be equal to 1~`12 of the annual [ost of the fotlow- .
,
~ +
A-Atl reat property ~axas lev~ed or assessed ay~i ~st the above desv;bed real estate. v~~,~1=.~~? '
B--Prem~ums on fire and viindsto:m, ir.sura~.ce as nere~n requ~red to be ca.:~ed on the im~rovemeats situate on the at}Dvpsd~~t?it3ed'p?p~ites,
C-Premiums on such mwtg;ge guaranty insurar,ce as mo+tgagee shal! from dme ro time deem fit to carry on 1ne ~lo~ :ecur~ ~e~l8y,
.
Mwtgagee sho!! from t;me to r~me notify mo.tgagor in writ~ng of the an:ount due and payable heteundrr and s~c}i~rd Sk~ll thlle~i~bi due and
.~.ab!e on ehe due date of the neat nwnth'ry payment and eath successive month thereaiter ur,ti~ mortgagee shall notlfyrjnprtg,agor pf p c4ang~ ~p such
o~nt. Such s~ms sF~all be app!ied by mortgag~e toward ti~e paymenf of rea! prope~ty taxes, insurance prem:ums, a~~ tnoNgage~quar~ety Sofprance
r.~•emiumt. : ~ ~ . . : c~ ~
IN Y~ITNE55 YJHEREOf, the said MORTGAGOR has hereunto ut his hand and seal the day and ar irst aforesai~~
, Seakd and de'.ivcred in tbe p?esence of: C~S ~ ' p~~
~ ~ ~t
~ iKE411~t9 t!£COR~ BY ~ ~
~[.ttlCii SOUMT? e Seaq
aos~~ ati~-n~?s , n ~ -
_ _ n
Ci;fAR C~~CViT C4URT
P.itG~^ YEa•s}c~ ~ ' (Sesl)
' - (Sesq
_ _ _ ~s~~ 3 3oPK'~3 - - -
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` 2'70214 ~
STATE OF FLORIDA COUNTY OF ST. LUCIE
~ ~
I HEREBY CERTIFY, That on this ~th day of` necenhpr , A. D. 19.~3_, .
; before me personally appeared _~11 ~t t~al l ...,o~t
~
respectively Presidenf end _ ` - ~et~?~[~t - , of
_Kell~ Construction Company , a Florida '
- Corporation, to me
i
known to be ti~e person~ described in and who executed the foregoing instrument andrM~ii~r acknowledged the eYe= ~
cut+on thereof to be ~r free act and deed as such ofiicerj for the uses and purposes therein mentionecl; an}~~'~~;~
' • : ~ ~ t
+ affixed thereto the official seal of said corporation, and the said instrument is the act and deed of.~a~ c1~t~3o~atipn:•.,~ ;
` = `i
` WITtJESS my hand and official seal at Fort Pierce , said county and state.~~ • ~
~ This instrument prepared by . . _ . J ! 3~ ~ ~ }
' John w. Collins - :
t 1
First Rederal Savings and Loan Notary PuSiic, in and for State and Coun fd~es~iSt. y i~
Association of rort Pierce, Florida My Commission Expires: " r~: tiy: ~'~'.•~1 . =
9- ~.5 - `15- ~j • ~ ~
z e~ n~~`-.
' Checked B~ - -
3 ~ooK 2~l P;~E2Q88
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