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und shall per(wm, comply wtih and a6tde 6y each nnd everv the a9~ments. sfipulnfions, rnndilions and i
covenants thereo~, and o~ thts morlgage, then Ihtt mortgage aad Ihe estoie hereby created, shall cease, de- ~
termine nnd be null and void. ~
~ ehe ~teago~ he.e6y /urlhe~ rn~~enanls and ag~ees to pay promptly w1~en due the pNnctpal and
interest and other aums o~ monoy provided for in said note an~ f1~is morlgage, or eiff~er; fo pny a~~ and
singu~er Ihe laxes. aasessmertis. ~eutes. liabi~iUes, ofiligaftons, and encum6rances of every nalure on satd pro- ~
perty: to permit. rnmmil or suf~er no waste. impatrment or creferio?afion of saic~ ~an~ or fhe improuementt ~
thereon at any flme; fo Ieeep t{~e 6uiI~Ilnps now or F~ereuffer on saicl ~an~ ~ully tnsurec~ In a s~un of not ~esa ~
than (no buildinqs thereon) ~ ~
in a co?nRany or companies acce+pta6~e to t~e mortgagee, ttie po~icy or po~tcies fo 6e held 6y, and paya6le Z
to, saic~ mortgagee, and In !he euent any su?n oj money 6ecomes paynble 6y virtue oJ sucti insuronce fhe ~
mortgage+e shall I~ave t1~e ?ight to ?ecei~~e and apply 1he same to the inde6te?dness here6y secured, accounting
to t~e mortgogor for any su?p~us: lo pay a~~ cosls, cho.~ps, anc~ expenses, inc~u~ing ~awye~~s ~ees anc~ lil~e
searr~es, reasona6ly incurred or paid ~y f~e morfgagpp because o~ ff~e ~ai~ure ol I~e mortgagor to prompl~y
an~ ju«y comp~y u~itf~ Ihe agreements, stipujnfions, conditions anc~ covenanfs of saicl nofe an~I itiis mort~age. ,
or eif~er; to per(orm, comply with and a6ide 6y each and every the agreemenfs, sfipu~ufions, condifions a~d
couennnfs set ~orfti in said note anc~ f~is morfpage or eilher. /n Ihe event Ihe morfgagor Jal~s to pay u~~?en
clue any tax, asses3ment, insurance premium or oll~e~ sum of mon~y paya~~o tiy rirfue o~ sai~ note anc~ Ihis _
morlflage, or either, the •morfgagee mny ~y ihp same, u~ithout woiving or ajjerting lhe oplion to /oreclose
o~ a?iy o11~er right I~ereurtder, and all such paympnts shall 6nar inleresl Jrom dnle thpreo~ at tF~e higl~est law-
f u~ rate then allowec~ by tl~e ~au~s o~ ttie Stale of F~orida.
~ any sum o( money hprein re~ene~~ lo ~~e nof pru:nplly ?x~icl u~ithin 30 day: nexf a~fe~
= the same becomes du~, or i( eacl~ ancl et~ery tF~e a~r~ements. slipulations, condifions and coi~enants of said
~ note nnd this mortgnpe, or ei1F~e~,. are not (ully pprJormed, compliecl u?ith and a6~d~1 by, t1~en the enlire
sum mentionecl in said note, and this mortf~age, or the eniire 6a~ance unpaid f{~ereon, sha« /orfhwitl~ or
~ ttierea~ler, at f~~e opfion oJ f~~e morlgac~ee, hecome and be ~Iue and paya6le, anything in saic~ nole or herein
j lo t/~e contrary nolu~ilf~slanrling. Failur~ hy ttie mortflayep to exercis~ miy oj f~e rig~fs or options herein
~ proviclecl sha~~ nol conslitufe a waii~er of any tigtifs or oplions un~er saic~ note or this mortgnge accruec~ or
iheren~ler qccruirt~_
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~ (CORPORATF. ~n ~~ln~ ~"i`e0~ mortgagor has causec~ f{~ese presents fo
~ ~ ~EAL) tie exec.ufec~ in its name, anc~ ils corporale sea~ to be {~ereunto aj~ixed, by ifs
" proper o(licers ihereunto clu~y auftiorizec~, the clay and yenr ~irsl a~o~e wrilten.
, i ~
! i~TTEST:T ~~i_=-=---- ':cw~.. PONEY PINES, INC.
, ~
; ~ ; JACK GORHAM, x••~~a••
~ ~.$igniitl:~[e~ and de[u~~ n!he prnsence o~_
~ '
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_ . ^ . ~
• . - - - - - -
' ' , - ~A~tTHUR ~ F. ~ ti~'OOD, - --P«~~
~ .~-3 --G.
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Of FIARIDA
~Q~~ Q~ ST. LUCIE
! i HFRF.BY CFkT11Y Ihat on fl~is ~/ny. 6~/orr mr. m o(~icrr duly aull~oriud in 16s Gat~ and ('ouNy u(onmi~ fo talre aclmou~~9-
~ mrnfs. ~xrsonally apa~? ARTHUR F. WOOD and JACK GORHAM
i nr~~ ~rnou~rt lo mr lo ~re I~v ~~rrsidenl un~~ re lirc~
Secretary ~ r d~ ~ ~«?~?a~,~, ~?d as
+ mor/pagor in l~ ~or~goin,q inslrumen/. aru~ I~at t~e) se~vra~~y oc~rnou~rdpr~~ rreculiny l~et ~ome. in f~ pnxner o~ lu~o sudxriding uifnrws. ~
~ I (rer~r nn~ rorunfwily un~r au!{~orilr ~u~y resfed in I~em by wi~~ cdpiralion wwr Itial Itie sra~ a«i-c~ t~vrcfo is Itit fnrr ev?~wrafr xn~ o~
~ ~ wid cv?~wralion.
W/T.~f:S$ my ~a~ and o~~icia~ tea~ in Itie rounly and Cfaft ~asl a~ansaid Itiis ~~/L[.~ dnr o~ J~y
~ A. D. 1n 7S.
FILEU 4`-~4i~0ED
57_ l•JC1- C~:~
N RAS ~A. ~ ~ ~
L i_, . ~ ~4~ .
CLa~~ ~.~~~'~IT COURT l.`G ~~~~L~l~Q/f~%~~
~P~ . .,,,,II,~~
~f. ~ ~ tE~ ~ ~ - a. 1
P~r.-. ~6 - ; •~a ,
C NOTARY PUBLIC - =
~~8 ~ 3S Q~ ~73 STATE OF FLORIDA AT. ~ L_~lc~ ~j Q~ %
o=.
~ ~•_~iJQ~~ ~ ' "f' ±s'~ :
3 - • k
My Commission Expires : y, "~/~l~ ti:'
Tltit Lutnnnent ,r ,~d 6 ~ _ ~ ~ _ , 6
p ~ y~
' ~ J .
A~dr~u ~~5 1NSTRl;MENT PREPARED AY V' `
GHARLES R. P. BROWN
P.O. BOX 1416 301 5. 6r:~ ST. k~/] ~ p ~~~'f
FORT PIERGE, FLOFIDA 334~0 BvOKFi/~~i IAGE ;
~E`~~'+,~,~,+.....K mv ~ _ . ~ ~ . `z ,r~.
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" ~ 'E ~ ~02 -E
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