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the Association; and, in the event any sum of money becomes ~ ~
payable under such policy or policies, the Association shall
have the option to receive and apply the same on-account
_ of the indebtedness hereby secured, or to permit the mortgagor
to receive and use it, or any part thereof, for other purposes,
without thereby waiving or impairing any equity, lien or
right under and by virtue of this mortgage; and the Association
may place and pay for such insurance, or any part thereof,
without waiving or affecting its option to foreclose, or
any right hereunder, and each and every payment so made shall
bear interest from the date thereof at the rate of 14.5 per
cent per annum.
4. To permit, commit or suffer no waste, impairment
or deterioration of said property, or any part thereof, and
upon the failure of the mortgagor to keep the improvements
on said property in good condition of repair, the Association
may demand the immediate repair of said improvements or the
immediate repayment of the debt, hereby secured, and the failure
of the mortgagor to comply with said demand of the Association
for a period of thirty (30) days, shall constitute a breach
of this mortgage, and, at the option of the Association,
immediately mature the entire amount of principal and interest
hereby secured, and the Association, immediately and without
notice, may institute proceedings to foreclose this mortgage .
and apply for the appointment of a Receiver,~as hereinafter
provided; or the mortgagee may make and pay for such repairs
as in its discretion it may deem necessary for the proper
preservation thereof, and the. full amount of such payments
shall be secured by the lien of this mortgage and shall at
the option of the mortgagee be immediately due and payable,
or payable in such other manner as the mortgagee may determine.
' S. To perform, comply with and abide by each and
every the stipulations, agreements, conditions and covenants
in said promissory note and deed set forth. If any of the
sums of money herein referred to be not promptly and fully
paid as the same severally come due and payable, or if each
and every the stipulations, agreements, conditions and covenants
~I of said promissory note and this deed, or either, are not
duly performed, complied with and abided by, the aggregate
~ sum mentioned in said promissory note shall become due and
e payable forthwith or thereafter at the option of the Association,
{ as fully and completely as if said aggregate .sum of money
was originally stipulated to be paid on such day, anything
~ in said promissory note or herein to the contrary notwithstanding.
6: To execute, acknowledge and deliver, from time
~ to time, such further instruments as Association may require
to accomplish the purposes of this mortgage, including, without
limitation, Uniform Commercial Code financing statements
~ and continuation forms.
7. To deliver to the Association on or before March
~ 15th of each year, tax receipts evidencing the payment of
all lawfully imposed taxes for the preceding calendar year;
to deliver to the Association receipts evidencing the payment
~of all liens for public improvements within ninety (90) days
after the same shall become due and payable, and to pay or
discharge within ninety (90) days after due date any and
all governmental levies that may be made on the mortgaged.
property, on this mortgage or note, or in any other way result-
ing from the mortgage indebtedness secured by this mortgage.
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8. Until default in the performance of the covenants r
and agreements of this mortgage, the mortgagor shall be entitled
~ to collect the rents, issues and profits from the premises
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FEE. KOBLEGARD 8c TEEL. P. A.
ATTORNEYS AT LAW nnnv t~ p~E 248
POET OFFICE BOX 1000 Y111111v~J
FORT PIERCE, fLORIDA 99450
E T[~[?NOM~:190S14e1.6020 #
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