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3. To place and com~nuov:ly keep on the b~i'd~~~gs nuw o~ hereeiter s~tua~e on sa~d iand and on afi eq.,~p~nent and persona~~y cover~d t+y th~s mor~g-
ege, w~th •II pren:~~ms Ihereon pa'.d in tull, fi:c un~rence ;n ihe vwal sre~,d~rd poi,cy lorm, in a e~m appro+ed by the MORiGAGEE, o~,d windstu+m
:nwrance in the usval s~anda~d pol.~y form, in a sum apE,ro.ed by the MORTGAGEE, in such tompany or to~~~panirs as tha MORIGAGEE may
d~rctp snd all iire and w~~~dswrm in~ura~ce po~~t~as on any of ~a~d bu~~d~ngs, any in~erest therc~n or part ~h~reof, in ~he agg~~ge~e svm ato~esa~d or
in exteaa thereol, shaU contain the utuai srar.darr/ lnortyagte ctause or auch o~her tiause as Ihe Mortgagee may rey~~re, making t:~e ioss undrr sa~d poli-
ces, each and every, payab!e w sa~d MORTGAGEE as as in~C~es~ may appear, and eac~ and every such paGcy shal! promptly a~s g~~.:d a~d de~~+~~r~d to
eny held by said MORiGAGEE as furthzr security io sa~d mortgage dab~, and, not ~ess than ten (10) days in ad:ance of tha exp~rot~on of each put~cy. Io d8-
Gve~ ?o said MORiGAGEE a renewal ~hereof, toge~her witA a rece~pt ior the premium ol such ~enewal; and thrre shail be ~w i~re w windnro~~n ir.surance
placed on any o1 said build~ngs, any intrrest there~n or part thereol, uniess in the (orm and with the loss payab!e as aforesa~d; anJ in the event any sum
of money becomef payab~e under such policy ot poLues sa~d MORiGAGEE shall have the opt~on to ~eco~ve and appty th~ seme on auount of ~he u~dnbted~
nesa secv~ed hereby w to permit said ldORTGAGORS to reteive and use it a a~y part thereof tor o~i~cr Hur}+cscs. .•,~~i+;.,t ~h ......~',7 ~~~'r~~''
ing any aquity, lien o~ right under o~ by v;rtue of this moc`gage; and in the even~ sa:d MORTGAGORS shall for any reason fail to keep the so~d p~emis_s so
insvred, or fail lo delivCt prort~ptly a~y of S~1d (wl[ties of insurante to sa+d MORTGAGEE, o~ fa~l prompN~ to pay lully any pre~n~~~n ~hcrefor or m a~y
reipect fail to perform, dnch;~ge, exewte, etfect, co~~plete, comply wirh and abide by this cavenant, or any part hereo(, sa~d /dURiGAGEE may p~ace a~~o
pay fa such insurence o? any part thereof w~thout waiving or alfecting any optlon, lien, equ~ty, or right unde~ or by v~.we of this.Mo:tgige, and the
4~II amovnt af each and e~ery such pay:r+rnt shall be immtdiately due and payable ar~d shall bear intercit f~om tha date thereof until p.;sd ot the rafe ol
n:ne per ce~t~m per annum :,nd tog_~rher wi~h such inrrrrat shali be sac~red by the lien o( Ihis mortgage. ~
d. To permit, commit o? suffer no waste, impa+rmept a detrrlotation of said property w any part thereof. •
S. To pay aIl and singular the cos~s, ct~arges and expenses, ~ncluding a reasanable atlwney's fee and cosh of abstracts of ?itle, incurred or pa~d at
any time by said MORTGAG:E, because or in the evrro of the (ailure on ~he part of tFe said MORTGAGOR to dufy, prompNy and fu~ly periorm, d~scharge.
_.~cute, effec~, complete, comply wah and ab:de by eath and every the stipui3t:ons, agreemenTS, condiiions, and covenants of Sa~d p~omissory note and ih~s
.^o~rgage any or eithe~, and sa.d cosn, charges a~d e:penses, eath and every, shall be immrdiatety due and payable; whether or ~ot rher'e be notica dr
rr,and, attempt to cotlect er suit pe~d~ng; and the full amount of each and every such payment shall bea. interes~ from ~he date thereol ~roil paid at the
~re of nine pe~ crntum µr ann~::.,; and aU said cosis, charges a~zd cxpe:~sHs incurred or paiJ, togeiher w~~h wch ~ntereit, shall be secured by the tien o! th~i
mortgage. '
6. That (a) in fhe event of any breach of this Mortgage or default on the part of the MORTGAGOR, or ;b) i~ the evenl any of sa:d s~ms of money
hrrein referred to be not pron,ptly and fully paid within th~rty (30) days next a'ecr the same seveiauy become due antl payable, wi~hout demand o~ oor~ce,
or (c) in the even? each and every the stipu:aflo~s, agreements, cond~tions and covenants of sa.d promissory note a~~ th~s mortgage any u e~ther are not
iuly, promptly aod fully per(ormed, d.scharged, eaecu~ed, eifected, comp{eted, compGed w~ih and ab~ded Sy, then in qither o~ any such event the sa:d ag
~:egate sum memioned in s~id promis:ory ncte then rema~ning ~npaid, with interest accr~ed, and ali muneys secvred hereby, shall become due and pay-
ec'e forthwith, or thereafter, at ~he opt~on of- so:d_MORTGAGEE, as fully and comp:etely as ii all of the sa;d s~ms of money were or~ginatly s~.pu:a~ed
ro be pa~d on such d:.y, anything in sa:d prom~sswy nore or in this hlwtgage to the co.~uary not.vithstand~ng; and thrre~pon or therealrrr ai the op~+on of
s: d MORTGAGEE, w~~houf nor.ce o~ demand, suit at law or in equ,iy, therefere or thereafter begun, may be prosecutrd as if all moneys secured hereby
r.,:d ma~ured pt~ot fo ds institut~on.
7. Tha~ in Ihe event that at the brginn~ng of or a1 any time pending any suit ~pon this Mortgagt, or to foreclese it, or to reform it, or td enfo~ce
~almenf of any cia~ms hereunder, sa~d htURTGAGEE sha.l app~y to the Cowt having ~uru~i~ct~on thereof ior the appo~ntment of a Rece~ver, such Court shail
f:~thwith appoint a receiver of said mortgaged p+operty all and s~ngular, inciud~ng a~1 and singu~ar ~he income, p~ofits, iasues and reven~es from wh,.te~er
s_ ~~rce drrived, each and every oF .~,ii.ch, ~t br~ng express~y ~nderstood, is hereby mwtgaged as if spcc~Fically sel ior~h and described in tl~e granhng and
h.,bendum da~~srs hereof, and s:.ch Recei.~er sha!{ have al! the braad and efi~ttive funct~ons and powen in anywne enrr~sted by a Court to a Receiver, and
:_ch ap~,ofntme~~t shalt be made by s~Jch Court as an ad~~it!ed equity and a matter ef absolute ~ight to said MORTGAGEE, and wi~hout reference to the
n:fcy~acy w~nadeq~acy of tFr vai~e of the property mortgaged or to the so~vency or insolven<y of said MORiGAGOR o+ the de`endams, and that sucn
r_~,•s, protits, income, issues and re.enues shall be applied by such Receiver accord~ng to the l~er. or eqvity of sa~d MORTGAGEE and the practice of such
COVf}. ~
B. To dufy, promptfy and fu!iy perform, d~s:harge, exec~te, effect, complete, comply with and abide by each and every the stipu{ations, agreements,
:~nditions and covenants in sa~d prom~ssory no!e ar.d th~s mortga~e set lorth. ~
9. That in the eveM the ownersh~p of the mortgaged premises, or any parf tAercof, becomes vested in a person other than the MORTGAGCR, the
.'.~?RTGAGEE, its successon and ass:gns, may, wiihout nc~ice to the ilORTGApR, deal with such successo~ or successor in i~terest with reference to lhis
rtgage ard tne d~-b~ hereby secured in the same ma~ner as wi~h 1,',ortgagor wahout in any way vit~ating or d~xharging the Mo~tgagors' liability herr
der or upon the debt hereoy secvred. No sale of the Frem~ses hr~cby mortgaged and no iorbeara~ce on the part oi the IAORIGAGEE o~ its successors
or ass~gns and no exrension of the ~ime for the payment of the deb+ h~reby sec~red g~ven by the MORiGAGEE or its wccessors or assigns, ahall operate
ro re~eese, d~scharge, mod~iy change or atfect the or~gmal liab:irty of the MORIGAGOR herein, either in whole or in part.
i 10. h is speuffcally a~reed that time is of the essence of this contract and t~at no waiver of any obl~gation hereunder or of the obligation se-
c~~ed hereby shap at any time ?hereafter be held to be a waner of the terms hereof w of the instrumem securPd herby.
~ 11. In add r.c~ to the feceao:n9 mor.th!y ~aym^nts of p+inc paf and interest req~ired by the prom:ssory no!e secured hereb~, morigagar tovenanis ,
f d agrees ro pay to mc-c3agee w~ih each rronthly pa~r. ent an add,rienaf sum ~s~:rr.ared by mortgagee to km equal to 1! 12 of rhe annual cosr cf the folfow-
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~ A-Al1 real property taxes lev:ed or assess~d sg;i•st thc above desc.i~cd re-ai estate.
` 8 Pr.rr.~u~r.s on f~re and •h~r.dsro•~=, ~nsura~ ce a; hrre~n reqv;red to be ca~ritd en Ihe :mpruveme~ts sil~ate on ihe above d_stribed rerr,W~i~ '
t . a.~ i+-
; C-P~er~;ur..s oo su:h m~:tg,.g~ yvar,~nty icsurar.ce as mortyagee sha~l frc:n rme to ti~ne deem fit to carry on the loan :~~~~edH~~~y, C 1ji~'~
~ Mortgagee sh,:! frcm ti-„e to n:ne r.or;f~ ~rortgagcr ~n w~iti~g of the amou~,! due and peyable hereunder and such su-n shal! I~eupon.be,~ie afii(
! ,;.able,o~ ihe d~~e tiate of th~ neat monthly pay~n_nt and each wtcessive n;on!h tnereafter ~nt~{ mertgagee sha!1 nohfy mortqi~bt•p~~~Sqiyth: r
~ ~unt. Such sums sha:~ be ap~~!~ed by mcrtgayce ~ov~ard the peyment of real property taxes, i~surance prem.ums, a~id ~no~tg~t~ ~oararlty insuh~.e ~
d ~ •~miums. A
t ! : C Z
E IN WITNE55 'l:HEREOF,' th, sa~d MORIGAGOR has hcreuMO set his hand and seal the day and year finf aforesa~d. ' L'
~ S~gned, Seated and de~ivered +n the presence of: f4~ ~yr, ;;~~qRGEO PE~ CONSTF!J~f~'~Q~j~ ~ Z~!IG.
~ 5~, lU~;i :•GUNTr fLA. / v,•,• p a~~ .
G i ~ F,G~'.'e:, R~$ ~ I~YI~ - l~ l e ~ -S'~ .
~ ' RF c~a; ~~F~,~iF.' COURT Ga L. Pe 1, Z ~t. • 5;`~
~ _ TTEST:' ~ ' ° ' ~ - i~?e~~~ri ~sq -
~y y 3~ Phil' Pearl, Secretary-?reasurer
~ ~T::7E OF flOkIOA ~ •
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G _ - -
~ 2'73449 -
~ ATE OF FLORIDA ~OUNTY OF ST. WCIE ~ _
,L L~' :
I HEREBY CERTIFY, That on thi~ y January ~
_-_da of-- - . A.D. 19
' before me personally appeared - Gary_ L. Peazl and Philip Pearl
~ ,
- Treasurer •
~ respective{Y President and SecretarY _ ' , d4;, .
_ PEARL_CONSTRUCTION CO.,_INC. a - - Florida-------- Go~pocafio~;to'me'!~": ,
- : . ; : ~
known to be the persons described in and who executed the fo~egoing instrument, and severally acknow}et3efed tFte exe= _
_ a ' ~ '
cution thereof to be their free act and deed as such officers for the uses and purposes therein mentionec~': a11d 4f~a~ ~?tr~X:
• • • t ~ _
affixed thereto the official seal of said corporation, and the said instrumsnt is the aci and deed of said•4or'p'orat~Fni~;=-~;~
WITNESS my hand and official seal at Fort Pierce said county a d state. ,lnr.~ '
This instrument prepared by "
s4 John W. Collins ~r
''irst Federa 1 Savings and Loan Nota y Public, in and for State and County aforesaid.
r~ Association of Fort Pierce My Commission Expires: ~~'j~`"r r, a; uk;,:
. ' 7. :a77
~ Checked BY T . , - ~ . .
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r= ~~4~~r.,3 PACf 716
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