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3. To plsce and continuousiy kcep on the bu~:J~ngs now a hereaft~r ~ituate on ~aid land ~nd on all equipment and pc~ton~lly cov~r~d by thit ntwt¢
p~. wlth ill premiums the~con pa,d in (ull, t~re ins~~ance :n iha ususl siandard poGcy fo~m. ie~ a•um apwo:ed by the MORiGAGEE. and wind~twm
iruur~oc~ in ~he uwal ~tandard pol~cy fwm, in • sum •p~xo~~d ty ~h~ 1NORTGAGEE, fn fuch tompany a compani~s u IM MORTGAGEE may
d'u~tt; and all (ire and wind~torm in~urence policies oti an o{ said build~r ~n inlere~t ther~i~ or rt iherto}, in Ihe r
Y W Y W +p~ ey~~s wm sta~said w
(n ~xcess ~hereof, s?wll con~sin the usual ~u~dard ma?gs~ae ciauis w iuch oiF»~ tlause a~ rM Ma~yaye~ may requ~r~, makinp ~hi lo~t undK ~a~d poli~ ~
cies, each and eve?y, p+yabte ~o se~d MORiGAGEE ~If in~erest may appea~, snd each and every ~uch ao~~cy ~hall b~ promplly ~u.yn~d ~nd dt~~ve~ed W.
any hr~d by ~a~d MORtGAGEE aa tunher security to said mor~9afla deb~, and, no~ les~ than ten (10) dayt in sdvsnce oi ~he eapir~tion of e~ch policy, to dr
livei to said MORTGAGEE a re~wwal Iheroof, toge~Fwr wi~h a receipt (o~ ths prsmium o( tuth rerawal; snd Iher~ shsll be no f~i~ or windsto~m inturanc~
plated on eny of said buitd~ngs, any inieresf there~n or pu~ the~cof, untess in ~he form •~d with the loss payable as sforesaid; ar+d in tl+s evenf any s~~m
of mon~y becornes payeble ur~der such poliq w poGues said MORIGAGEE shatl have ths op~~on to rece~ve ux! apply tAe same on accounf of ~M i~debted-
ness secured hereby or to perm~t said MORTGAGORS ~o rcceiva snd us~ i1 p any part thercol for o~hrr pu~poses, w~~hout th_web~ wai~ing w~mpair-
Inp any equ~ty, licn w r~ght under or by virtue of ~his mo:sgage; and in the ~vent as~d MORTGAGORS shall fw any ~eason fail to keep the uid pr~miui so
iesured, w fai~ to de~~ver promp~ty any of sa7d pol~cies of i~:surance to ~aid MORTGAGEE, w fail promptly to pay fulty any pre~nium ~herefor w in any
resped fail ro perfwm, d~:charge, execute, eNect, comptete, comply witA snd abide by this covenanl, w sny parl hereof, ~aid MORiGAGEE may p~sce and;, , }
psy fw such insura~ce or any part thereof without waiving w afiediny ~ny op~~on, lien, equ~ty, or ri~h1 under w by virtw of ehit Mat9aye, ~nd 1he ~
(ull amo~nt of cach and eve~y iuch payn,e~t sFwll be immedistely due and Fayabla aru! ihall bear interest Irom tha date thereot until paid at the rat~ ol
nine per cenrum per an~ium and to~rthc~ with suth intereat shail tx satured by the lien ol thi~ mortpage.
To pcrmit, tommit p SUf(Y no waste, impairment or deterio~ation o} said property o~ sny paA Ihereof. !
i
5. ~o pay a!I a~d sing~la~ the co~ts, chargea and expe~ses, i~cluding a reasonabk atlwney's fea ar~d costs of abstr~cts o( titla, incurrsd oi paid at
eny t~me by sa~d MORTGAG;E, because a in tl~e eve~t of the fa~lure on ~he part of the said MORTGAGOR to duly, p~omp~ly and fully perfonn, d~uharq~,
e:ecute, eliect, comp;ete, camply w~th and ab:de by each ~nd every the stipula~~or+s, agreements, conditlons, and covenants of said promisiwy note snd this'
mongage any or e~lAer, and sa~d costs, charges and expenses, each and every, shall ba immediately dw and payable; whethe? or not the~e be notice da
ma~d, attempt to cotlect or au;t pend~ng; and the full amou~~~ of eacfi and every such paymenl shell bear interest from the date tMreof until paid ~t the
rate oi ~unp per crn:urn ~nr annu:n; and a11 sa~d costs, cha~~es and exE;enses incurred o~ paid, together w~th such interest, ~hal! be setured by tM lien of tha
morlysge.
6. That (a) in the event of any bresch of th~s Mortgage or default on the part o( the MORTGAGOR, or (b) in the evenf •ny o.` sa~d tums of money
hcrein refe~red to be not p~omptly and fully paid within th~rty l30) days ~ext after the same severaliy become doe and payable, wi11wW dem~nd Or notice,
or (c) in the event each and every the :tipuia~ions, agreement~, cond~nons and covenaros ol sa d prom~swry note and th~s mortpape ~ny a either aro not
~uty, promptly and f~lly pe~formed, d~scha~ged, executed, eifccted, comptefed, compGed with anei ab~ded by, then in either w~ny such ~wM the said a¢
pregate sum men~ioned in said promissory note then remaining unpaid, with interei~ accrued, and atl moneys setured hereby, shatl becom~ due and pay-
abte io~thw~th, or thereaf?e?, at the opf~on of sa~d AtORiGAGEE, as fv~ly and comp!e~ely aa ~i ell of the said sums of money vrere onginatly st~p~leted
to be pa~d on svch day, a~y~hirg 1n sa,d prom~sscry note w in this blwtgage to the convary notwithstanduiy; and thereupon or therea(ter a1 the option oi
said MORTGAGEE, withou? not~ce or demand, •uit at law w in eq~~ry, therefore or thereatter begun, may be prosecuted as if all mw?eys setured hereby
had mawred pnot to os institvtion.
7. That in the event thar et the beginn;ng of or ef any time pendi~g any su~t u~,cn lhii Mortgage, w to foretlose H, w to n(orm it, or to enforc~
psymcnt of eny c~a~ms lureundrr, sa~d MORfGaGEE shal: appty to thr Coun having ~ur~sd~c~ion thereof fa the ~ppo~ntmonl of • Receive~, ~uc}? Court shail
fo~thwi~h appoint a receiver of said mortgaged p~ope~ty all and.singular, includ,ng a~l ar,d singul~r ihQ incoms, profits, issues and revenues from whatever
wurce derived, each and every of wh:ch, it be~r.g express~y understood, ~s F:en:by morfgaged as if tpec~(rcally set fath and dewibed in the yranting and
habendum cia~ses hr.cwf, and such Receiver shail have all the broad and effect~ve funct.ons and powers in anywise •ntrusted by a Court to • Receiver, end
such appointment ~haii be made by such Covrt as a~ ad:nitted equity and a m.atter of abaolute right to sa1d MORTGAGEE, and without re(erence to the
sdequacy w inadeqvacy of the va!ue uf the proper~y mortgaged or to the so~venc~r or ~nso~vency oF said MORTGAGOR or the deferdants, and thst auch
rents, piofits, income, ~ssues and revenues ahal~ be appiled by such Recciver accordeng t~ tne lien or equity of said MORT6AGEE and the practite of such
Court.
8. To c!vly, promprly and iuliy per(o.m, d~scharge, exec~te, effect, compt~te, cempty with and abids by each and every the stipulations, agreementt,
cond~tions and coYrnants ~n sa~d prom~ssory note and th~s mortgege set forth.
9. That in the event thc ownership of the mortgaged prem~ses, or any part thereof, bccomes vefted in s perton other than fhe MORTGAGOR, tha
MORTGAGEE, its successors and ass:gns, may, without notice to Ihe MORIGAOR, deal w~th such successoi w surtnsor in interest with reference to this
mortgage a~d the d:5f hereby secured in the same manner as w~th Mortgagw xi~hout in any way vitiating d d~scM~ging tf~e Nbrtgsgors' liability hertr
~nder or upon the debt hereby secured. No sale of tl:e Fre~r~ise~ hereby mortga9ed and no forbearance on the part of the MORiGAGEE u its succeswn
or ass~gns and no exte~~s~on o1 rhe tim.e io~ the peyment of the drbf hereb~ secured given by the MO~tTGAGF.E or 7ts tuctessw• ot ~uigns, ?hall operate
to re~ease, d:xharge, mod~iy ~henge or affect the or~g~nal Gab:l:t~ of the N~ORTGAGOR herein, either i~ whole w in put.
10. It 7s spcui~catl~ agreed ihat rime ~s of the essence of this contract a~d that no waiver of sny obl~ga~~on hrreunder a of the obligation so-
cured hereby shatt at any time rhe~eairer be hcld to be a waiver oF the terms hereof or oi the instrumem secured herby_
11. !n addmo~ to ~he forego`ig moneh'y pa~menfs of p~inc pa. and inreres+ requ~red by the prom~ssory no!e secured i~ereby, mortgagor covenants
and agrees to pay ~o ~~,origa~ee v`ah each mon+h~y , xr~.:enr an aJd r,onal sum es• maied b~ mortgagee to be equal to 1/ 12 of the annual cast of the follow-
ing:
A-All reat property taxas Irn~d or assesscd aga~~st the a:~ave desvibed real estate. F
& Prr.m~ums on fire and windstorrn ins~racce as here~n req~~;red to be carried on the improvemeafs sitwte on the sbove d~saibed premises.
' ~-Premiums on such mwtg~ge guaranty ir.sura.:ce as mortc~jgee shall from t~me to time deem fA to csrry on the loan secured hereby.
Mortgagee sh,!f f~om n~~e rc ~i~ne r.ot~ly mengagor ~e wr~f~ng of the ar..ount d~e an~ payabte hereunder and such sum shall thereupon be dve and
payable on the J~e dare o1 ~ne ne¦r T:o^th!y payment a~d each suuessive month tnereafter ur.ri{ mortgagee shall notify mortgagw of s change in such
amo~nt. Svch sums shail tx appned by mongag~_e ro~vard ~ne payment of real property taxes, insurance prem:ums, and mortgage guaranfy insurance
premiums. .
IN 1YITP~E55 L•:HFREOF, the sa~d MGRTGAGOR has hereunto ut his hand and seal the day and yea? first afwesaid.
Signed~ ~5ealed a:id delivsred in 1he /p?esence of: ~ '
/ - ~ ,l ! . {ii.~ ` .%~i7i, ~ - i._/C~~~
: ~ „ - F ~ . ~la Jame ~ ` " ts~~n
- ' ~CL<". . ~ :j - ' _ ' - . 8JC OA (Seal)
- ~ - _ ;~i+--~~( ~~7f (Seary
~
. ~
• . . - Lyn A. Tbaaton ~~.n
STATE OF fLORIDA ~ 1~ iL 2,~
COUNTY OF St . Jt~ 321470
eefwe me personaily appeared _ JaDl~ S B• ThBJC~iOTI
and
_ IiyC~n A. Thax~i~h hi~ wife, to me well known and krwwn fo me to be
the indiv~duais descr~~ed in and who executed the fwegoing instrument, ~nd st4nowledged before me that they executed the same fw the purposes
therein expressed. And the said_____- _ i/~n A. Thaxton
wife of tiie said -____!j~6a B• Thaxton upon a uparate snd p~iv~t~
e~am~nation by me taken sepa~ate and apart from her said husbend, eck~owledged to end beFore rrK that she exrcuted said instrument freely and volun~
tar~ly and w~thoul any comp~~sion, cor.straint, apprehens:on, yr iear of or from her said husband.
~ ZiC~ ~
WITNESS my hand and offiual seal this_ day of November A. D. 19
J
~ t:~-~ ~~,tJ
Notary Publ' (or the State of Florida •t larye
My Commiss eapires:
Return To:
First Federal Savings 6 loan Associat.on N~r!^ti fa':;:c, i`-fa ef F~_r;Jn o? (r:rgy
Of iort P e rce. My t.~ sni-;~on r. n:. s;.iv 71, i
Fort P~r:ce. Flcnc;a Ec .c:c:l ~y Arrxr'ccn ;L t. ~ ~u.
This Instrument Prepared Sy Qar'y F. Ellwood ~ ~
First Federal Savings 8 Loan Association p"•
of Fort Pierce~ Floridn : ~ : ~ _ " - -
Checked By = = ' ~ - j , t -
. I' i'. ~ ? ~ .
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r~ ~ ~ ~ / • •
E~,~~ ~ FA~,E 1Q3 ,,;,ti.
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