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7. To piace and cont:nuously keep on the l,uCd~n~e now or herenher e~~ua~e on sa~d iand -ond on a!1 aqu U+~d~ ~Y~''~~MOR G:.GEE~dabd 1w~~ds or n
age, w th all p~e~~~umf rhe~eon Na~d m f~Il, fire insurd~icu in ~ha ~s~a1 staxlarJ po!~ty ~orm, in a sum e{.p
nsurance in the usual f!anda~d po~:cy fo~m, in, e sum spproved by tfie MURfGAGEE, in wth cornpany o+ tompen~es as99f?y ?~~~iV~GEE may
d~~ect; and all fi~e and windsturm i~wrance po~~uas on a~Y o( said bu~id~~gf, any iNerast therri~ or part thaieof, in tfie a r~ ate w~n aforesa~d w '
+n txcea~ thereof, ~hal~ ca+tain the ~sual i~andard ma~g~9~ dause or such o~he~ clsuss as tM hlo~tgagee may req~.r~, making the ~os• unJr~ se~d po~i-
cies, exh and evrry, payabte ~o smd 110RiGAGEE as ~ts ~nierrst may ep{~ar, snd each and erery sucA {~~icY shd~~ Ix P~o^'N~~Y ats g~~rJ a~~d de:~.~r.:d ~o
any held by w~d h10RIGAGcE af further security to u~d ~T~o~tgage debt, and, not less than ten {101 day~ i~ ad+ance of the expira~~on of each pol~cy, ?o dr ~
Irver to u~d MaRTGAGEE a rcnewal thereof, taye~her with a receip~ fo~ ?he pre~nium of such rcnewal; and ihrre sha~l be no f~re or w~~wuo~~n ins~rance
placed oo any of sa:d b~~ld~ng~, any imerest Ihe~ein or pa~~ thereof, unleas i~ the form and wiih the loss payab~e as a4ore?eid; and in the e.eM any aum
of money becomea parabie under such policy o? po~~ues said MORTGAGEE ~hall have the opt:on to reca~ve and apply the iame on accou~+~ of fhe U~tICD~Cd• ~
neu setured bereby u to permit sa~d MORTGAGORS to receive and use ot any parl thereof tor oti~cr purE>oses. :.~~hwt ih.•~ ui .va~.~ or ~~npa~~-
ing any equ,ry, lie~ a riyht unde~ w by virt~x o1 this mortgage; and in the eveN sa d MORiG~1GOR5 shafl tot any reason fail to keep the said prem~sas so
insured, a feit to detive. pranptly any of said poLcies of insura~ce to sa~d MORTGAGEE, w fail prompt~Y 1o pay fuily any pre~nwm therefor or i~ a~y ' ~
respect lail ~o perform, d~scha~ge, execure, effect, complrte, comply wi~h and abide by this cove~ant, o~ any part ha~eoi, sa~d MGRiG.~GfE may piace a~d
pay fo~ such ~nsurance or any parl thereof wnhout waiving w aftxting any option, lien, equ~ty, w right under a b~ vir~ue of th~i Mortgagr, and tht , .
}utl a~novn~ of each and eve~y wch paymem shall be immediately due and payable ~nd shaU bear iNeres~ from ~he date thereof until paid at the rate of ~
rnru per ten~um per ann~m end to~cthrr with such intcrest ihaEi be sewred by the ~ien of this mortgage.
To permit, comm~t w suffer no waate, impairnxnt or deterioration of sa~d property or sny p~rl thereof.
S. To pay all and singular the costa, charges and expenses, includ~ng a reasonable attorney'a fee and costs o1 s~e^;r''ts ~~fu~e• '^~rfwm, d~ sharge~
any t~me by sa~d MOR1GAGfE, because w in the event of the fa~lure on the pari of the said MORTGAGOR to du•y, p p Y Y Pe
execute, eff~c~, comptete, canp~Y w~~h and ab.Je by each and eve~y ~he stipu~a~~ons, agreements, conditions, and covenants of said promissory note and ~h~i
,r.orrgage any or eirher, a~d sa:d costs, charges and eRFenses, each and every, shall be immediately due and payab:e; whe~her or not the~e be not~ce da
mand, attempt !o co~lcct or suit pend~ng; and the ful! amount ot each and e~ery such payment shall bear interest from the date thereof un?il paid af the
,.,re o' ~.~ne per ccntum ~r dO1ltiTj a~d alf sa~d costs, c~~argrs and rapenses incurred or pa~d, toyether w~~h suth inte~est, shall be secured by the lien of th~s
mort9age.
6. That (a) in the event oi any breach of this Mortgage o~ defauh on ?he part of the MURTGAGOR, or ~o} ~n the ever~t any of sa:d su ::s of m~sney
herein referred to be not pro~np~ly and fully paid w~thin th;rty (301 days next after the same severa!ly become due and payable, without demand or twt~ce.
or (c) in the event each and every the stipu;at~ons, agreements, condrtio~s and covenann of sa:d promiswry note and th~n mortgage any or e~ther are not
j~:y, prompdy and 1ully perfocmed, d~xharged, executed, effectrd, completed, compiied wi~h a~d abided 4y, then in e~~F~e~ w any such event the aaid ag
g•egate sum mcnnoned ~n sa~d promissory ncte then rema~n~~g unpaid, with interest accrued, and alt moneys secured hereby, sha~~ become due and pay
efl:e forthwith, or thereafter, at the op!~on of sa~d MORTGAGEE, as fully and completely as i( all of the sa~d sums of money were o~i9~~ally st~puia~ed
to be pa:d on such day. ar.ything :n sa:d promnsory note or in th:s Mo+tgage to the connary not.vithstanding; and thereupon or thereafte? at the opt~on oi
sa,d N.ORTGAGEE, wr.hout norice o~ demand, suit at law or in equ~ty, ~herefore o? thereafter begun, may be prosecuted as if all moneys secured hereby
nad matured pr~or to its inst~tu~ion.
7. That in the event that at the bc~inn~ng of w at any time pend~ng any suit up~n this Mortgage, o? fo fwedose it, or to reform it, or to enforce
cayment of any d~ims hereunder, said MORTGAGEE shall apply to the Court having ~unsd~cnon thereot for the appo~ntment of a Receiver, such Cou~~ shall
Forrhwith appolnt a rece~ver of said mortgaged proprrty al~ and sing~lar, includ~ng atl and singular tne incomF, p?of~ts, iasues and revenues from whatever
sc:,~ce de•~.ed, each and every of wh~ch, it be~r~g expressly understood, is hereoy mor~gaged as if spec~fically set fath and desuibed in the granting and
h;bend~m clausea hereof, and wch Receiver shail have all the bruad and effec~~ve fvnce~ons and powers in anywise emrusted by a Court to a Receiver, and
s..ch appoinrmen~ sha? be mrde by euch Court as an ad:n~tted equity and a ma?ter of absotute right to sa~d MORTGAGEE, and withcut re(erence ro the
ad~:raCy w inadrquac± of :h2 vaive of the property morlga9ed or to Ihe So.venty or ~nso~vcncy oF said MORTGAGOR or t1x defendams, and that such
rents, prof~ts, irxo.ne, iuues and revenues shall be appi~ed by sucfi Receiver atcord~ng to the lien or equity of said MORTGAGEE and the pract~ce of such
Court. ~
To dvfy, prompsiy and fu!~y pe~form, d~scharge, execute, effect, cornptete, cornp~Y w~th and abide by each and every the stipu(ations, agreements,
cond~tions and eovenants in saed promissory note and th~s mortgaga set forth.
9. That in the evenr the ov.r.ership of the mongaged premises, or any part thcreof, 6ecomes vested i~ a pe~son other than the MORIGAGOR, the ,
~'.7RTGAGfE, irs wccessors ar.d asvgns, may, wishout neuce to the ~ORTGAOR, deal w~~h such successor or wccessw ~n iroerest w~th reference to this
nro•tgage ard :he debt r.e~eoy secured in the same manner as with fdortgagor w~th.~t in any way vit'ating or d~stharging 1he /dortgagort liability her~
u~der d ufwn the d=bt hereby secured. No sa~e of the prem~ses hereby mortgaged and no forbearance on the part of the /AORiGAGEE or its successors
or ass~g~s ar.d no exters~on of the ti.r.e for the payrrent of the debt hereby secured given by the 1AORTGAGfE or i~s successws o? ass:gns, s1~a11 operate
ro re~ease, d;scha~ge, mod+fy change or afiect the or~g~nal Iia~il:ty of the MCRiGAGOR herein, either in whoie o+ in part.
10. It is sperF~ca~iy agreeei that time is of tfie essence of this contract and that no waiver of any obligat~on hereunder or of the obligatan sr
c~red hereby sha!1 at ~ny t1m.e fbereaEter be held to be a waiver of the terms hereof w oi the instrumeN secured he~by. ,
11. Ir. a~d.t:c~ !o t~e fwego ng monthty payments of princ pal and interest required by the prom:swry nore set~red hereby, mortgagor eoy,ei~r~nts _
a~d ag-~s to pay to r:o-tga~ee ~nrth each monthly pa~~:~ent an add<<~onaf wm esn^~ated by mortgagee to be equal to 1 i 12 of the annuai cost bt thi ~,ono4v- ~
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~ A-Ali reai crope~ty taxas le•n=d o~ assessed ay ~i~~st the above desc~ibcd rral estate. ' ' '
i g-pra~::a•n; on i~-e ard w~c~storm ~nsurar:e as here[n req~:red to be carried en the ~m;;roveme~ts s~tuate on the above desuibed~p~etoises.~~- ~"G ..~~i ~
~-Pre•nw:ns on svch mortgi~e g~ar;nty ir.;~ra~,ce as mortgagee sha11 frcm t me ~o timz deem fit to carry on the loan secured kiere'py- .
I ~ r
Mortgagee s~+a:l f•cm tf:r.e to sm.~e not~iy rr:ortgagcr ~n v~rit~rg of the amount due a~d payabie hereunder and such surn shai~ efierevaen be ~~qe and ~ t
~ ; jyab!e o~ the d~e date of ~~~e rtext montF.:y payment and each successive month thereafter ur,ti! mo.tgagee sha? notify mortgago~ oF a cfiange ~ suc~ ? j
.~a~t. S~ch s~ms sta:~ be app~+ed by rnwtgagee toward the payment of rea! property taxes, insurance prem.ums, and mortgag6 gOar3rgy inSurance.
~ ;..er,.ivrns. ' _ . ~ V
~ IY YrITPJESS L•.H=_R'cOF, the sa:d MORTGAGOR has hereunto set h~s har.d and seal the day and year first aforesa;d.
Sig~ed. Sealed and deiivered in the p~esence of: ~y /~.L..$. Billl~@YS~ IT1C. y~~tt~t~ttt~~~
/C~,QO ! t~ Sean
~Kt; RFG~RUE~ _ _ ,
~ _ • ' 01~~! Y • ` ~ ~ - . (6ea1)
~ "~~~JG~utT C ~RY ~ BY: A~rl' e L. Si nor Presider~~n
~ _ g .
• rfn:=tED...~~"" l5eaq
~ ' A?TEST~~David _ arrel~ Treasurer ,
- ~ - 19~~-ao P.M- ~a~~
STATE OF FIORIDA C~ COUNTY OF ST. LUCIE
~ I HEREBY CERTIFY, That on this -L~day of-____ ADril , A.D. 19~_,
1 before me personally appeared Arl~np t~ ~~~nro and n~vi ct J• v~rrel l..
s~~~. respectivefy President and - Tseasuter _ . - of . _ .
z: : • _
A. L. _S. Builders;_I~. _ a_ F~4Li a _ Corporalion, to rrie ~
- kno•~+vn to be tfie persons described in and v~ho executed the foregoing instrumens, and severally acknowledged the exe-.-
~i~ cution thereof to be their free ad and deed as such officers for the uses and p~rpses therein mentioned; and• that they
' affixed thereto the official seal of said corporation, and the said instrument is the act and deed of said corporation.
_ WITNESS my hand and official seal at Fort Pierce _ , said county and state.
This instruSent prepared by ~
~ '
Gary F. Ell~rood
Notar Public, in and for ate and County aforesaid.
F irst Federal Savings & Loan Y
M Commission Ex ires: e• 3 1
Assoc iation of Fort Pierce Y P ~
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; Checked By ~ a ~
so~?.26 ~13~7
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S~N
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