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To place and CCnlinuOt~fly keep on ~he bu~'J~n~~~ ~~c.w or h~~eol~er i~t,arr an s,~d tand and on a1i eq~ip,~eM and personally covrrad by ~his mor~~ -
~ys, with •II premi~mt thc~eon pe~d in full, f~~e u:s..:e,xe m inn us•.,al s~.,nderd pol~r~ iorm, ~n a tum apHre~ad by the MORi'vAGtf, e~~d windstwm
insurance tn ~h• ~susl srlndard ~wl.ty lo~m, in • ium approved by rhe MOkTGAGFE, in iuch co~npany ar cumpan~e~ ai th~ MOR1GAvEE m~y
direcl; ~nd all fire and w~nJ~toren lnturence po~~c~rs on ?ny oi sa~d build~nys, any inte~e~t iharein or pa•1 IF*reof, in Nu ~yq~ega~e wm aFaesaid a
in taceaf ~hereof, ihall conrsin ~he vsval sca.,Ja~d ~:0~+~~9ee deuse o~ wch aher ci~~ss os ~he Mwty~ges may re~u~r~, mek~~q the 10~~ unda ~ad polN t
uef, each snd every, p~yab:e ~o ssid MORTGAvEE ~s ~r~ i~~~c:eu :i~ay apE:ea., a~~d each end e•ery wch policy shall tx prompTly rs~gned and dalivered tQ "
•ny hr~d by •eid MORTGAGFE as (vrti~er secu~ity fo ~aIJ mortga9e d..•bt, end, r.nt le» than ~en (101 dayf i~ ed~o~Ke of the •xp~r~tioo 04 esch poliq, ~o d~- +a
IivN ro said MORTGRGEE a renewal the~eof, ~o9e~her wnh a ~ece~p~ to~ the prei,dum of such it,;cwal; and IharQ s?~ell be ~o f~rs o~ windflorm ins~ranc~ ~
pl~ced on any of iaid buildiny~, ~ny lntere~t tnmcin w pait ~1~er~ol, unleai in th~ form •rul v,•~~h th~ tou payabt~ as •fora~aid; snd i~ tM s•r~ot ~ny wm '
of mon~y becanes payable unde~ wrh po~icy or poLcir~ sa;J MURiGAGEE shrll hav~ ~he o~,t~un ~o rrcr~ve and apply the sa q ~p indebted~
n~u ~ec~rsd heraby a ro permit u~d 1dORTGAGORS to rece~ra and uts it or any part fl~c:coi tor o:~~~•r pur~oses, wi ~ R ~ Aa nnpair `
iny any eqv~fy, lien or r~gh1 under or by vir~ue of th~s mortgafle; and in ths event ~a~d MORiGAGORS stiall !or any rea prsmi~e~ so
insured, a lail Io deGvs~ promplly ~ny o1 said poGcies of insura~xe Io said 610R1GAGfE, or tad prompNy to pay full a Tcu i ny
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~espect fsil to per!am, dncharge, eYOC~re, elfect, comp:e=a, can:ply wi~h and ab~de by ~h~a co~anant, a any pe~t hareof ay pt ce nd ..r
pav (a wch insurancs or any part thereof wi~hout waiving a aliecting any op~ion, lien. equiiy. or r~ght ~nde~ w tM ~
full a~novnl of e~ch a~d ev~ry cuch payntant ahail be ~mmcKl~afely duo and psyable and shall bee• in?e~est from tho datt theraof un ~I psid 1 t b ol • }
nine pe~ tanrum p6r annum and to~rther wirh such ~nrerES~ shaN be s~~c~red by the lien of this mortgage. 6~
1. To permit, commit er suffe~ no wasfe, impeermtnt or dMer~oraho~ of s~id property or any parl thercof.
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5. To pay all and s~nyu!ar ~he cosn, charge~ and expenses, ;nciud~ng s ressonable atro.nrr'~ fee and cosh of absrrects of title, incurr~d or p~id ~t ?
eny time by said MORTGAGEE, because or in the evem of 1he fa~lure on ti~e pa.t of thc said AiOR~GAGOR to duly, prompily snd fu~ly perfofm, diuharge. ~
executo, eflecl, complete, comply with and ab+de by each and every the ~iipulanons, egreement~, condit~onf, and covcnanq oI sa~d p~anissory note and thi~ 4
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mutype a~y w ei~hr, and sr.d costs, charges end expenses, aach and every, ihall t» immed~ately due ar~ payable; whe~he? a not there be no?ice dr
mind, attert:p/ ro collecl or suit pending~ and the full amouM of ~ach and e~ery such payniam thal! bea. intereit from 1M datQ thereof until psid ~1 ~ht '
rate oi n~ne per c_nt~m per annum; and all seid ws~s, cha+ges arid exgse~~ses incwr~~l or pe~d, together w,~h suth interest, shall be secured by the lien o( thw
mortpage. W
6. That (a) in the event of any lxeach of thia Morrg;.ge or default on the part of the MORTGAGOR, or (b) in the event any of ~aid sums of money W i
herein referred to be not promptly and lully paid wunin th~~1y ~301 days neat ait•_r !he same severatty bccome due and payabl~, without demend o? notiu, ~•d }
or (t) in the evem each and every the sHp~Ieeions, agrrements, co~d~tions arrJ covenants of sa,d p~omissory note and th~• m.ortgage any or e~tber are not ~i ~
3uty, promptl~ ar.d iufly perfo~+~ed, d.uhargad, executed, effected, compteted, com~ Geti w;th and ab~ded by, then in e~ther w any such eveM the aaid ag ~
g~egate ~~m men:ioned in said peorn~sswy note then ranaining unpa~d, with interes~ acuved, and alf moneys secured htreby, thall betome dw and pay~
aGle forthwith, or :1:ereafter, a~ the oprion ot aa~d M02iGAGEE, as fuUy and caTpiefely as ii a~! of the sai~ sums of money were w~gin~ily s~~put~ted r+
to be aaid oo such dty, anything in sa.d prom~ssory note or ir. thi~ Nlortgege to the controry nor,w~thstjnd~ng; and thcreupon or ttureatfer at the option of i
said MORTGAGEE, wiihout not~ce or demand, s~it at faw or in equdy, therefore or Ihercafrrr hegun, may be pruiecuted as if all moneyf tetured F?ereby ~
had mawred pnor to ds institut~on.
7. Th~t io the event that at the beginn:ng of w at any hme pend~ng any suit upon thls Mongage, o~ to fwedos~ if, w to rtform N, or to tnfwu
paymenl of any tlairns hc~eunder, said MORTGAGEE shail apply to the Court hev~ng ~ur~ad:d:on ~hcreof fw the apponNmenf of ~ Receive~, wth Court sMll
forthwith sppo~nt a ~eceiv~r of sa~d mwtgageci p.oprrty ai~ and s~ngular, inctud~ng ail and s~ng~tar the income, prof~ts, issues and r~venues (rom whatever
sourra derivtd, each and every of wh;ch, it beu,g exµrestly unde~stood, is I~ereby mongaged as ~f spadficaily tet forlh and detuibed in tht gr~~tiny and
habe:~dum tlavses he~eof, and suth Receiver sha!I hare a{I ~ht broad and effettive func~.ons ar~d powera in ~nywise entrusted by ~ Courl to a Receiver, and
s: ch appointment ahall be made by svch Court as an ad:nirtrd eguhy and a n~alter o4 ebsolvte right to seid MORTGAGEE, and without rtference to tM
eJequaq or inadequacy oF the value of Ihe pro{:er~y mpttgag!d o~ to the so~vency or ~r.so!.ency ot se~d MORTGAGOR or the defendams, and thst such
~enrs, profits, income, issuef and revenues shall be appl~ed by such Receiver accord,ng ~o !he lien or equity of said MORTGAGEE and the p~xtice oi suth
Caurt.
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B. To duly, promprly and iuily perform, discharge, execute, ef;ect, comp!ese, cc~npfy with arxl abide by each and every ths sfipulations, ag~eemee?t~; '
conditions and covenams in sa~d promisswy note ar:d this mortgage tet (orth. , ' ~ ~
9. fhat in the event the owr.ersh~p of the mortgaged premises, or any part thereol, becomes vHted in a ptrspn ofhit than the' MORfGAGOR, the i
MORTGAGEE, its svccessors ar.d ass~qrs, may, without not~,e to the t.10RTt;AOR, dea! wieh s.,Fh wccesyor ,pr succeaspr in inttiest with rs~er~nc~ b this !
. matgage and the debt hereby secwed in the same manner as with /Ao~tga~or wrthout in any way vitiating or ditcharging the Mortflegors' (iabilify hetr ~
under or vpon th4 deht hereby sewred. No sa:e of the ~.e.r.1sQ: he~eby matga~ad •nd no lq.bearorue on th~ part of the MORTGAGEE or iri successors
or e~s~qns snd no exte~sion of the ~ime for the paymeM oF 1he deb~ heiehy secured grven by IFK MORTGAGEE or its suctessors w a»iyns, shall operaq
ro releas~, d~tthrrye, nqdify change a affect the orig~nal Iwalit~ of the MORiGEiGOR herein, ei~her in whoie or in part. '
10. It is spec~fica~ly sgreed that time ~i of the essence of this aont~act and tFwt no w~iver o( any obt;ga~ion her~under or of th! oblig~tion sr
cured hereby shall at a~y tir.ie ther~after be he:d to be a wai+er ot ~he ~erms hereof or of *he instrument secur~d he:by. . .
l l. In add.tion to the (wcn}c ng monthiy payments of pr;nC oai and i~tercet requ~red by the prom~ssory no!e fecured hereby, mortgagor tovenarrt!
and agrecs ~o pay to mc:tgagec ~vth each r.~on~hiy payr.~ent an add:r;onal sum est n~ated by mortysgee to be equal to 1 f 1$ Of the annuat tost o( the tollow-
in~: _
' A-AN real proparty taxes tev~rd or assess~~d ag~~•~s: thc abo~e desc.i3ed real esfate. ~
B-Premiu~ns on fire and w:nds~or~r. irou,ar:ce as hcrain ree~,:red to I1e carriEd On rhe improvemonts sltvate on the sbove desct~bed premises. ±
C-Pc~~ums on such mortgago guaranty ir.su.a~,ce as mortgagee sFat; from t~me.to time deem fit to urry o~ tiie ban secured hereby_
M.ortgagee shaR frcm tirne to time ~o+~fy mertyayer ~n writ~ng of the amount dun and payable hereunder ar.d such s~m shall thereupon be due and
~:ayable on the d~e d~te of the n-~rt moroh:y payment a~~d each s~ccessive monih fnereafter urnil mor~gagee shaN notify mortgapo~ of e change in su:h ;
' a-rount. Such wms shatl ix app!ied by merrgager to.vard ti~e payo::er,t of rea: proper~ti• taxes, ~nsurance prem;ums, and mortpage guaranty insurance ~
~ premiumf. ~ . . . .
IN WITt1fSS WHEREOF, tAe sa~d P.".ORTGAGOR has he~re~uflo set his hand and s.oi the day ear first s4or id. ~~~4,
f Signed. Sealed and delivered in th~ ~~R~p(tf.b,;~'~`A. P M~" s~~+J"_` ~~1y ~
! r UCIE LuJNA?S ~ S ~
j :u:. i!•URT BY: - -~S ,n
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E _ - ~ _ i- : 1 r . 8ia p : ~
i t ..r 1H!•~b ATTES?: ~ , ~ ~C,
~ ~TATE Of FLORIDA i~ I 29 ~ zer~ ~ . -
~ ~?!lifllZt=
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~ STATE OF FLORIDA COUNTY OF ST. LUCIE
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~ I HEREBY CERTIFY, That on this ~~~lt- _ day of_ Mla?tch A. D. 19 76
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~ before me personally appeared _ peter M. L,eaving, and Brenda B. I.~aaing
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~ rESpectively President and _ Secretary ~ T=easureZ , of
~ PETER M'. LEAMING, INC . , a Flotida
Corporation, to me
known to be the persons described in and who executed the foregoing instrument and severally acknowiedged the exe- ~
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~ cutian thereof to be their free act and deed as such officers for the uses and purposes therein mentioned; and that they ~
= affixecl thereto ihe official seal of said corporation, and the said instrument is the ad and deed of said corporation. ~
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: WITNESS my hand and official seal at Fon Pierce , said cou , and st~te. ~
` Th is inatrwent pzeparQd by , •
~ RobQS! A. Swishes, Js. , , , ~
' Fi=~t .Egd~ral Savinqs and Loap ot Fublic, in and for State ~
~ Association ot Faart Pierce ty aforesaid:
M Commission Expir - ' -
~ t ,t~ Y es: ~ •
F==' ~Y~ ~ PA~,;E~~ LTyl~,.i~. :~~'y ~,~,!7~'`
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