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REAL ESTATE ~IORTGACE ~ }
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THIS MORTGAGE made WIs ~_day of ~h 19~~. Between D8?~id Sclle?fer ~
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o[ 731 Bian?~lsreeod Bd• ~ }
St. Ll~aie, County, Florida, hereinafter called the Mortgagor, and Pe~'t~l pLaD,I~O.
~ P~e3~e a F~iMm09 Corporation, hereinaRer called the Mortgagee.
WITNFSSETH: That said Mortgagor, in consideration of the principal sum specified in the promissory note here- '
inafter described, received from the Mortgagee, hereby mortgages and incumbers in favor of the said Mortgagee the real
property situated in St. L1iC~A County. State-of Florida, described as follows;
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Lot 10 Block 3127, Sectivaa 45 - Pt. St. Lt>rcie, Ala. ) ,
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as security for the payment of a promissory note, a copy of which is attached hereto, and incorporated herein by reference,
The said Mortgagor does covenant with the said Mortgagee that the said Mortgagor is indefeasibly seized of said
!and in fee simple and has the full power and lawful right to mortgage and incumber the same, that the said land is free from
ail ir:cumbrances ezeept as above noted, and Wat We said Mortgagor, except as above noted, does fully warrant the title
to said land and will warrant and defend the same against the lawful claims of al[ persons whomsoever.
AND THE SAID l~IORTGAGOR does further agree as follows:
•1. To make promptly all payments required by the above described note and this mortgage as such payments
brcome due. . ~
2., ~p pay p4•~4pt)~ jrhen due all taxes, assessments, liens, and incumbrances on said property.
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'to keep the bu><[dings now or b~eafter on said land insured against damage by fire, lightning, windstorm or
other casualty in a sum not less than the sutra secured by this mortgage, in a company or companies satisfactory to the
:iortgagee, said policy to be held by and payable to the ?Mortgagee to the eztent of the indebtedness remaining at the time
~~f the loss. Lf a~? sum becomes payable under such insurance policy. the ?Mortgagee may either apply it to the indebtedness
rcured by this mortgage, or permit the Mortgagor to use it for other purpose, without impairing the lien of the mortgage.
4. To permit, commit or suffer no waste, impairment or deterioration of the mortgaged property.
If arty payments provided for rn the note on this mortgage are not promptly paid by the Mortgagor, if the buildings
ar«• not kept insured``ae y~~~ or if the Mortgagor defaults in any of the other covenants, stipulations, or agreements,
th«' ortgagee, witht~~ dr affecting the option to foreclose, may otherwise perform any of the covenants or agree-
mc~nts on be-half of the :Mortgagor, and any and ail such sums or expenses paid or incurred, with interest thereon from the
date of mctrt at We•r t o j terest rescribed in the note secured'ny this mo a e, shall also be secured,b this t
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mortgage:
6. This mortgage lieq shall extend to and include all rents and profits of thc• mortgaged property. [n the event of
for.•closure the court i~C aut~rorized to appoint a receiver of the mortgaged property and to apply such rents or profits to the
in~?_~btedness hereby secured, regardless of the solvency of the ltottgagor or the adequacy of the security.
T. This mortgage shall extend to and include and and all extensions and renewals of the hereinabovc described
note and shall also secure and sum or sums that might be loaned by Mortgagee to Mortgagors in the futurt• in the sum or
sums for vehich Mortgagors shall .execute their nc~otiabic promissory notes, not exceeding 825, 000. 00, together with
int« rest, taxes, levies, and insuranc~•.
8. if any payment provid.-d for m tht• note ur this mortgage be not paid vrithin thirty days after it becomes due, or
if any agreement of this mortgage other than for th«• ~a~-m~•nt of money is breached, then the unpaid balance, not including
un~•arncd interest, shall immediate!} beCOrne due and pa~ablc at the option of the Mortgagee, and the Mortgagee may fore-
close this mortgage in accordanrr vrith proc.-dur+-s ~~~tablishcd M- law•, and have the property sold to satisfy or apply on the
indebtedness hereby secured.
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