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3. To keep the buildings and all equipment and personal
property now or hereafter on said premises covered by this
mortgage insured in a sum equal to at least the amount of
the mortgage, or an amount sufficient to comply with any
co-insurance requirement covering the same under the. laws
of the State of Florida, covering loss from both fire and
storm, making the loss under said policies, each and every,
payable to the mortgagee, as its interest may appear, and
said insurance shall be in a good and responsible insurance
company satisfactory to said mortgagee., and written by a
responsible local agent satisfactory to said mortgagee; and
the policy or policies shall bear a standard New York mortgage
clause without contribution, and shall be held by the mortgagee;
and, in the event any sum of money becomes payable under
such policy or policies, the mortgagee 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 mortgagee 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 15 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 mortgagee
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 mortgagee
for a period of thirty (30) days, shall constitute a breach
of this mortgage, and, at the option of the mortgagee, imme-
diately mature the entire amount of principal and interest
hereby secured, and the mortgagee, 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
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shall be secured by the lien of this mortgage and shall at
the option of the mortgagee be immediately due and payable.
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5. To perform, comply with and abide by each and
every the stipulations, agreements, conditions and covenants ~
in said promissory note and deed set forth. Zf 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
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
payable forthwith or thereafter at the option of the mortgagee,
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.
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6. To execute, acknowledge and del~er, from time
-to time, such further instruments as mortgagee may require '
to accomplish the purposes of this mortgage, including, without _ ~
limitation, Uniform Commercial Code financing statements
3 and continuation forms. ~ ~
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FEE, KOBLEGARD & TEEL. P. A.
~ ATTORNEYS AT LAW
POST OFFICE BOX 1000 ~g P~ i54
FORT PIERCE, FLORIDA 33150 ,
TEIE~MONG 13051 1dt•5020
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