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3. To plsc~ and cominuously keep o~ th~ bu~:d~i~ys now w h~~eafter ~~tuete o~ •a3d I~nd and on afi equipment ~~d ppfonaliy covtnd by thi~ mwt¢
p~, with •II premiums thereon pa~d in ful~, fi:a insuranc• in the viv~l tra~dad po~ity fprm, in a sum ~pprov~d by 1h~ MORiGAGEE, and wind~torm
inwrux~ i~ IM vtiual ~~andsrd pol~cy fam. in • ium ~pprov~d by tM MORTGAGEE, i~ ~uch tompany o~ comp~ni~a ~s tht MORiGAGEE may , 1
dir~ttp and all f%r~ and wiodsrorm inwrsnc~ pol~cies on +ny of uid build~nps. ~ny iMsntl ther~i~ w pu1 1Mreo(, in IM ap9te9~~~ sum ~(aa~id w '
In ~xus~ ~hereof, ~MII co~~ain tl» uswl aunda~d mu~9ayN ctaus~ a iuch other d~os~ a~ ~M Matpa9e~ may rpu~n, makinq tM loss unda a~d pali '
cia, ~ach ~nd ~vcry, payabli ~o u~d MORTGAGEE a i~i inieres~ may ~pp~ar, u~d ~~ch and every such polity ~hall b~ promptly ass.yned ~nd d~liv~r~d to
~ny h~ld by said MORiGAGEE ~s furthe~ sacurity ~o ssid ~r+ort9ape dfbt, and, not les~ ~Mn /sn (10) days in sdvanc~ of tM ~apir~tion of ~ath policy, ro d~
liwr to aid MORTGAGEE • re~ewal thereof, to~~i?w wi~h • rac~ipt fw ~h~ p~rt+iwn of such +anewal; and th~r~ ihall bs no f~r~ a winds~wm inwr~nc~ ~
placed on ~ny of ~ud build~nps. ~ny in~~rti~ tha~~n a parr th~~eof. urstess i~ th~ form ~nd with tF+~ loss payabl~ ~i a(wis~Wt +~d in t1~ ~v~nt ~ny wm .
of mon~y become~ p~yabte under such policy a polKiss s~id MORTGAG:F sh~ll Mv~ tfit opuon to receive and ~pply the s+rn~ on +ccount of tM l~bted~
nsu ~ecurcd Mrtby or to pe~mit said MORTGAGORS ~o rcceive and us~ it or any psrt thereof for olher purposes, w~~hwt therEb~ waivi~~ a~mpair• F'~'t
Inp any pulty, lieo a ry~f unde~ w by virtw of Ihis mortyage; and in 1M event Nid MORTGAGORS shall (ot any reawn iail to ke~p 1M s~id p~~mises so t
Inw?ed, a fai) b dtliver promptly ~ny of iaid policias of inwr~nce to s~id MORTGAGEE. w fail promptly to pay fully any pre~nium the.efw or i~ any
rppect f~il to pafwm, d~:chergs, e:ecut~, effM, complete, oomply with and ~bids by this covensnt, a a~y part herwf, s~id MORTGAGEE may pl~ct +nd ~
paY fa sucA i~surance w•ny part th~rcof wifhwt w~iviny a~fisctinp any option. tien, eqvity, a right unda~ o. by virtw of this Mortpays, ~nd rhe '
full unount of each ~nd ew.y ~uch payment sMll be irtunedi~tely dw ~nd p~y~ble •nd sMll baar interest from tM dat~ thereof umil psid N th~ rat~ 01
nin~ per tentvm p~r ar~num and tagether wirh such interest shall be secured by ths lien of this mortysye. ' E
1. To permit, commit w suffer no wasls, impairment ot deterioration of said propsrty o~ any part thereof.
5. To pay all and sinpulu tht coats, clu~yes ~~d expenses, i~cludinp • ~e+sonable attwney i fee sr?d coin oi abstrscn of titk, incvrred or p~id ~t
sny time by u~d MORiGAGfE, t»cause or in ths event of ~h~ fa~lur~ on ~M par~ of tM uid NIdRTGAGOR to duly, promptly end fully ptrfam, dixharp~
execure, effect, comptere, comply wi~h and ~b:de by e~ch ahd every the stipul~liona, a9reemenn, cond~riona, snd cownann oi ~id promiuwy not~ and thu
matyage ~ny or e~tF+e~. and said cost~, charget and expenses, exh and way, sMll be immediately due and payable: wAether w not tMr~ be notica de
m~nd, attempt to collecf a sult pend~ng; and the full amounl of each ~nd every svch paymenf sMll bea. inferesl from ths daN th~reof until p~id ~t tl+t
rate of n~ne per cemum p.x annum; and all uid cosu, charges and expenus incurred or paid, together w~th aucF? intert~t, ~MII be sxvrsd by th~ litn of tbu
mwtyap~.
6. Thaf (a) 1n the event of any brexh ot this Mwtgay~ w default on the parf of the MORTGAGOR, w(b) in the event •ny of sa~d sums of ewney
l+ere:n refxred to be not promptly and fully paid wi~hin th~rty (30y dayi next after the tame ieverolty betome due end payable. wi~hovt demand a notic~.
or (c) in the evcnt esch and every the stipulations, ~greements, co~d~tans s.~d coven~nts o1 sa:d promissory note and th~s mwtyaye any or ~itA~r are nd
~uly, promptly and fully pert«med, d:xharged, executed, effected, comptcted, complied wi~h and ~bided by, tl?sn in either w any such tvent tAe said ~
pregat~ tum mentio~ed in said promissuy note then remaining unpaid, with interest acuued, and all moneys setured hereby, shall betort~e dw and pay-
sbte forthwith, or rhereafte~, a1 the option of said MOATGAGEE, as fully and completely es if a~l of the said sums of money wert wipinally atipul~ted
to be paid on such day, anything i~ aa:d promissuy note or in this Mortyage to the contr~ry notwiths~andinp: a~d thereupon or thereafter s1 the option oi ,
said MORTGAGEE, wifhout notice a demand, suil at law a in eqvity, there(we a ther~alter beyun, may be prosetuted a if dl moneys iecured heteby ~
had malwed pnOr to in institut~on_
7. That in the even~ that at the beginnirg of w at any ti~ne pending any svit upon +his Mortgage, or to fweclose it, or to refwm it, or to enforce
payment oi any claims hereu~der, said MORTGAGEE ahell apply to the Coun having jur~sd;u~on ~he~eof fw ~he appointma?~ of ~ Receiver, s~ch GouA shsll
fwthwith ~ppoint a receiver of said mortgaged property ell ~nd singular, includmg •11 and :inguiar the incoms, profits, iswtf and revenws from whaT~vet
source derived, each and every of whKh, it beir~y expressly unders~ood: is hereby mor~gaged as ~f speuficatly'se/ fw~h and desuibed in tfie grantirq and
hab~ndum clauses he?eof, a~d suth Rcceiver ahs1l Mve all the b~oad and e(fective funct~ons and powers in at+ywise entrusted by e Gourt to a R~teiver, and
such appointmer.t ~hall be made by such Cour~ as an admined eqvity •nd a matte? of absolute right to said MORTGAGEE, and wi~hout reference to t1+~
adequacy a fnadequacy ol the v~lue of the prope~ry mortgaged or to the sonency w~nsolvency of seid MORTC,AGOR a the defendants, and that such ~
rents, profin, income, issues and revenues shatl be applicd by such Receiver sccord~ng ~o the tien w equity of uid MORTGAGEE ~nd the pradice of tuch
Caurt.
8_ To duly, promptly and fully perfwm, discha?ye, e:ecute, effect, corrplete, comply with ~nd abid~ by eath, and every the s~ipulatioos, ayreements,
conditio~s and covenents in said promissory note and this morrgage set fath. , }
9_ That in the event the ownersh~p of the mortgaged premixs, w any part thereof, becomes vested in a pe?wn other than tFx AM~RTGAGOR, 1M ~
MORTGAGEE, its successws ~nd assigm, may, withoul notice to the MORTGAOR, deal with such wcceuor o? svccdsor in interest wifh reference to this i
mortgage snd ~he debt hereby secured in ~he same manner n w~~h 1Nor~pa9o. withovt in sny way vitiati?g a dixMrging the M«tyagors' li~bility hsra i
und~r w upon the debt hrreby secvred. No sale of the premises hercby mwtgaged snd no fwbearanu pn 1he part of Ihe MORTGAGEE or itt successors !
or assgns and no ezrension of the time (o~ the ~naymeN of fhe debt hereby ucwed yiven by the MORTGAGEE or iti wccessws or sssigns, shall opetate ;
to release, d~uharge, modify chanye or affect the orig~nal liab:l~ty of tht MORTGAGOR herein, either in whok p in put. ;
10. h is :pec~f~ca~ty agreed thaf time is of ihe easence of this contract and thst no wsiver of any obligat~on hereunder or of tha obliyation ir
wred hereby shafl a~ any time thereefter be held to be a waiver of the terms hereof or of the instrument setured herby.
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11. In add~t:on to the forego'+x~ monthly paym-nts of prir.c'pal and inte~est required by the prom~sw~y note secured hereby, mortgagor covenants
and agrees to pay to m.ortgegee v~irh each monfhly payrnent an addirionat sum rst~mated by mortgagee to be equal to 1/12 of the annual cost of 1he follow-
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A-AIt resl property taxes levied o~ auesx~d egainst ~he above dexribcd real estate. t
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! B-Pruriums on fire and.v~~r.dsro:m insurar~e as herein requ:red to be carried on the improvemenls situate on the above desuibed premises.
C-Premi~ms on such mortgage guaranty insurar,ce as mortgagee shatl from time to tirne deem fit to tatry on Ihe loan stturell hereby_
~ AAortgagee shail 4rom rime to t~rne notify mortgagor in writing of the amovnt due and payable hcreunder and ~uch sum shall thereupon be due and
payabte on the due date of the ~ext monrh:y payment and each avccessive month thereafter ur.til mortgagee shall notify rtgagor of a change in such
amount. Such sums shall be app'.ied by mo~tgagee tovvard the payment of real p~operty taxes, ' surance prem:ums,~pa r~wtgaye gvaranty inwrante
premiums. ,
IN Y~ITNESS WNEREOF, the said MORTGAGOR haa hereunto set his hand aod seal the day ye first i,~d~~.~~ ~
Si9ned. Sealed ar.d delivered in the p?exnte of: ~ .
4~~~~~%,~+r'~
FIlEO AML HECORDED
. ST. LUCIE ;.OUNTIf FIA. n .
R06Ea ?~tTRAS ~
~ CLERK C~3CUIT COURT -
RECORD VERIilEO ' / ~
~ Beth Allen P. Ottesen ~e+q
~ STATE OF FIORIDA ~ ' 3 Z8 P~'16 ~
couNr~r oF St. Lucie 338`78;rj
• t
Befwe me perwnally appeared James R. ~tteSf'It s~ -
$ath Al len P_ ntteSeil his wife, to me well known snd known to me to b~ t
the indiviouals deuribed in •nd who executed the foreyoing instrument, and acknowledged before me thst they executed the same fw ths purposes e
rherein e:pressed. And the said Reth Allen P. Ottesen ~
w~fe of the .~~d _ James R. OtLeSelf ~
upon a separate ~nd pr'rvats
exsmination by me taken separote and apart f?om her said husband, acknowledged to and before me th~t she exetuted said inatrumeM freely and volwa
tarily a~d w6thout •ny compuliion, constraint, apprehens~onj~ or ~ear of ot from her said husband.
WItNESS my hand and official ual this ~ 7~~" day of .~11fl@ p, ~q 76 =
~ ~ . ~
~ otary Public in and for the Stat Flaida at larye ~
~ My Commisian expires: ~ ~
R~~~.~ ~o: i o• 3 0- 7 :
~ First feder~l Savingt 6 toan Associat~on
~ Of fort P~erce.
forf P~erce, Florida
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This Instrument Prepared By ,T . H. Robert s Jr .
First Federal Savings 8 Loan Association '~I,-
t of Fort Pierce ~ ~ 3~r; '
~ Florida 33450 ~ ,
Checked By'~- ' . ~~y~~`.'~~~,~- •
~ r r _ , f,..!4i~~~~.
~ c-`.; 25~ ~t;E 8~4
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