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3. To piece end conitnuously keea on the bui'd~ngs no.v or here3lter ~:~ucte on said land nnd on all equipmero and personally covered by thit m~~tg• ~
age, wi~h all premiurns ~hcreon pa:d ;n iull, tire ins.,ranc~ in ti~e usu.+l stand3rd fwticy torm, i~ a sum epproved br Ih8 N10RiG.~GEE, anJ ~vir,deto~m
insuron:r in ~ha uival standard pol:cy 1orm, in a sum approved by iha h10RiGAGEE, in w~h compeny or tompen+.s a~ ?I~e hiORiG4GE! maK ~
dl~e<t; a~~d al~ tira a~d winJ~l~rrn insurancr polict~s on any of ss~d twild~nps, a~ry intarast ttierein o? parl thareof, In tha aggrec~ato wm aforeseid or
fn azcrss thereo(, ihall contain tha usval sta~~dard mortc~agea clause ar such o~hcr ciausa an the Alortgagee may ~fqu~re, meMiny tho loss unde~ said poli- ~
eies, each and every, payab!e to said h10R1GAGEE as ~Is i~uerest may ap}~ear, ar.d each and avery such policy sh~ll Lo promptt~r ass gned anJ delivered ro. ~
any held by said h10RTGkGEE as (urthcr sacurity io sa~d mo~igage dzbt, and, not !0S3 than ten (10) days in advan<a of tha expiration ol eath po!ity, lo de• ~
. liver to Said MORTGAGEE a renewal thereof, togeiher with e receipt tor ths prcmium of svch ~ene.vrl; and there shall he no firE or win~s~orm insuronct ~
pleced on any of said bvildingf, any interest thrrein or part thereoF, urlcss in the larm and ~vith Ihe los~ payablc as atortsaid; and in the evenl any sum
oF money becomes payabk under such policy or policief said hIORiGAGEE shall have ~he oplion to ~eceive and apply 1ho same cn acto~nt of the indebted• ~ ~
ness secured herehy er to permil sa~d 1~10RTGAGORS to receive and usa it w any part thereal fc+r eth:r purposes, without ~hs~ch~ waivin? or unpair• , ~
Ing any equ+ty, lien or r~9ht unc'er or by virt~e o~ ~his mo:sgage; and in the event sa;d h10RTGAGORS shall for any reason fail to keep tha said premises so ,
insured, or }ail to deliv~r promplly any oE said pol~cies oi insu~ance to said MORiGA~EE, or iail prompNy to pay fully any premium therefor or in any S
~espect (ait to per(orm, disth3r~e, ezetute, effett, com~~;ete, comply with and abide by this covena~l, qr any parl hareo~, said MORIGAGEE may place and i`,f
pay for such insurance or any part thereof without ~saiving.or affecting any oplion, lien, eqv~ty, or right under or by virtue of this Morrgago, ar.d tht
. fe+ll ame~nl of eech and every such p3yment shaR be immrdiately Jue and ~yable and shali bear interes~ irom tno date thereof un~il paid at Ihe rate ol
nino per centum per annum anci toge~h~r ~vith w~h interest sha!1 be secored by tha li~n of fhis mortgage. ' .
4. To permit, cammit or suffer ~e waste, impaim.ent w detcrio:a?ion oF said property or any parf thereof. `
5. To pay all and singula~ tha cos~s, tharges and expenses, induding a raas~nable atrorney's fee and costs of abstracts of ti~le, i~turred or paid 01
any 1ier.e by said A10R1GAGfE, beca~set or in th~ e~ent of tl~e (ailure on the par~ of ~he said h10RTGAGOR to du~y, promptly and fully perlorm, d~scharge, 3
_ axetute, effeu, complete, cemply wirh ar+d ab:da by eath and every the stipulat~o~s, agrecments, cond~tions, and covenants of said promissory nota and ti~is
morts~age any er ei!her, and sa:d cosrs, charges and expenses, each and every, !hall ba immed~ately due and payab~e; whe~her ot not there be notice de i
' mand, atternpt to collecl or suit panding; and the (ull ama~nt of each and evecy s~[h payment ahall bea~ interext from Ihe date thereof until paSd a1 the t
rate oF nine per fenfum pcr annum; and all said cot~s, ~h3«J~s and ei~:enses incurred o~ paid, togefher w~th such interest, shall be setured by the lizn.of this ~
` mortgago. , - ~
6. That (a) in the event of any breach of this hlortgage or dafault o~ the pa+t oi ihe h10RIGAGOR, or (b} in the event any of sa?d s~ms of money 1
herein reierrad Io be no1 pro:np:ly ar.d (ully paid w~fhi;i thir.y (3~) dn~s next after Ihe same severally become due and payabte, without dema~d or notice,- '
or (c) i~ the evant eath and every 1Fe stipulations, agree:neMS, conditions and <ovenants of said promissory nole and this mortgage any or eilher are ~ol
~vly, promptly and fu!ly ~xrlermed, d.stharged, executed, af(ected, comp!eted, cemp!Ied ~v~th and ab;ded 5y, then in either or any such eveM the said ag•
- g~egate sum menri,ned in said promissory note lhan remaining unpaid, with in~crest accrued, and ai! rrtoneys secured heteby, shall become due and pay-
able fo~~h.vuh, or the~eafter, at ~he oprio~ of sa+d MORTGAGEE, as iuliy ar,d completety as if all oi the said sums ol money were originally st~pulated
to be pa~d on wth d~y, anythinq in sa:J pro:n~sscry notc w in this l.tortgage tu the conlrary nor.vithstanding; and Ihereupon or thereaiter at the option of
said ~
10RTGAGEE, ~vitF.ou: notice, or damand, su~t at lav: er in eq~~ty, thereture or thereaiter beg~n, may be prosecuted. as if al) money; secured hereby
- had mawred prior to its institwion. - ,
7. That ~n the event ~hat at thr beginn:izg of or at aiiy time pending any su~f upon th~s Mon jege, o~ to foretlosC it, or to rcform it, or fo e~ferte
payment oi any claims hereunder, said MOR(GAGc`_ shal! apply to the Covr1 h~ving ~urisd;ction the~eoF for 1hQ appuintment of a Receiver, such Court shall
toithwith appoint a re[eiver of saEd mortyaged prepe:ty atl and s~ngvlar, ir.c~ud.nu ait and s~ngular the income, prolits; issues and revenues Irom whatever
sowca derivrd, eacli and every of wh;ch, ~t being express~y vnaerstced, ~s herec~ mortgzged as if spe{ifit511y s_t forth and described in t~e 9ranting and
habendum ctauses he:cof, and such Recei4er shali ha+e all the brca3 anr! ePfective funct~ons and po~vers in anywise emrusted by a Court to a Receiver, and
-st,ch appointmenl shall Ec ~r.ade by iuch Covrt as an admifted equity and a matter of rbso~ute right to said h10RiGAGEE, and without reference to the
adequ~cy or inadequacy o( ~fie ~•afve oi ihe p:oH•trty mortgaged or fc the soivency ar insolvency- of said MORTGAGOR or the defe~dants, and_Ihal such
rents, profits, income,_ i:sues and revenves shaii t~ applied Uy s~ch Receiver accarding to 1he lien or equity of said h10RTGAGEE 6nd the prattice of such
CoutF. . - -
8. To dufy, promptiy and fully pe•form, d~scharge, execute, ef(eU, complete, compty v:iih and abide by each and every the slipulations, agreenieNS,
' 4onditions and covenants +n srid promissory notr, and ths morigagz set forlh. ' -
9. That i~~ tfie e~•c.^.i th~ ov~nersfiip ot ihe mortgaged premises, or any part thereof, becomes vested in a person ofher than the MORTGAGOR, the ;
MORTGAGff, its su:ce.ssors and aszige;, may, wnhout noiice io Ihe ~1pKTGAOR, deal ~tiith such successor or successor in interesl with reterence to this ~
mortgaye ar.d the dcot hereby secu:ed in Ihe same manner as with Alortgagor w~thau~ en any way vitiating or discharging Ihz .'.lortgagors' GabiGty here- ~
u~der or upon th~ d_bt n~reby secured. Ko sale of the Fremises hereUy moitgaged ar.d no for6earance on the pzrt nf IKe /AORiGAGEE or iis sutcessofs i
o~ assignn ar.d ro cxters~•~~ oF :he timr for the Haym.ent of ~he deot he-reby seo~red given by Ihe 1dORTGAGfE or its succes3ors or assig~s, shal) operate ~
to retease, dreharge, modlfy ch~nge os affect th? origina! Iiau~Gty of the k~ORTGAGOR herein, either in whole or in parl. - _ _ ~
~ j0. U is speuficalty ~greed that lime is of the esser..e of lhis conlratt and that no waiver ot a~y o~ligation hereunder or of the obligation s~ ~
cured hateby shall at e~y lime there~ttcr ba hc'•d to be a waiver of the terms ~ereo~ or oi :he instrument s=cured herby.
- 11. In a.~d~t:o~ to ~he forego-ng month?~ pitrr.~nfs of pri~~c'pa1 and interest reauired by the promissory no!e secured hereby, mortgagor cover~ants ~
and agre~-s to pay tu n;a:lg3gae ..+th eacn ~nc+vti~y payr.:ent an add~rional sum <'itiniated by rno:tgagee to be eauat to 1/!2 of the annual cost os the foliow- z
ing: #
_ _ A-All real property faxes lavied or assessed 2cJd1.^•51 ihe above d~scri6ed real esta~e. ~
_ B--Prenrvms-on frc and vrir.dstorm inswarce as he:e~n requ~red !o he carrie~ on th~ imrrov~me~ts situate on the above dsscri6ed premises ~
C-Premivms on wch mortg;ge guaranty ir.s~rar,ce as rt~ortgagee shail fra:r. t;me to time deem fit to carry on the loan gecured hereby.
Alortgagee shall from ti~r.a lo t~:re no~i(y mortg_gor ;n w.~t~r,g of the amount due and payabfe hereundtr and such sum shafl thereupon be due and _ i
payab',e on the due aate of th= nexf mcnth;y paymen! an~ each s:,ctessive ~r:onth therza(ter un~i1 mortgagee shall notify mortgagor of a change in such i
amovnt. Such sums shail 6e app!ied by mortoao~e to•r~a:d tf~e payment of real property taxes, insurance prem;ums, and morlgage g~aranty insurance
' - premiums. . ~ _ - .
IN \'JIT~~ESS ~VIiEREOF, the said h50RTGAGOR -zs h~reunto set his hand and seal the day and year first afores d. ~
~ g ed, Sealed r d. er ' the preser,ce of• - n - -
- ' ~-~-L:~~~EO _
~ f Lfa~3~ ' ~ttijY fLA. (Ser!) :
. S~. ~U , -.~,"-~~5 l er bi. Le ~Zp (s~ai)
f - E,~1 , U:? Ct~JRT _ _ (Seal) `
uF~-r,? t~i+ en a . ea i ?
~ t ' ; ' ~ - (Fa_a1) ;
STATE OF FLORIDA _ _ ~ r~- ~7 1 1` -
st-. ~ u~ - ~ ~Q`~9~f
I CQUNTY ~F
, Peter ~i. Learnin - ~ t ~
_ Be(ore me o=rsonat~y appeered - 9 and
P renda E. Leamin~_ his wife, to me vvel! kno.vn an~ known to me to be
the indiv;d~a•.s d~scr=6:d in and v h~ executed the fio:ecoing instrument, and acknowledged before me that they execufed the same far the purpases ~ ~
- Brenda E Leamin #
therein expressed. And the said_ • ~
wife of the :a;d Peter Leaming ~Po~ a separate and private ~
- -exam~aa;~o~ by me taken separate_ and apart frcm her sa~d husbar.d, acicnowledged to and Nefore me that she executed said instrumem freely and colvrr (
tarily and v,~thavt any compulseon, co~straint, aeprehens;on, or fear of or from her said husband. - -
WITNE55 my hand and official aeal this 12th day of ~ta~ A. D. 19 75
_ . ~
- Notary Public in d pr the Sfate of fiorida at i~rge
- ' My Comm~ssion xpi es:
Retum To: Notory Publ:c, Ss~t= of fJc.ida cf ldr~
_ first federal Savings S~oan A35ociat~on - My Cuma::ti10.'1 E~.,'r_s !v:y 1977
' 'Jf fort P:erce. - " Bpnd^d by Ar•~erican f;re 8 Casv::ttr C0~
Fott Pierce, F!or:da - _ -
- ' . - - _ " . ~~y tr! , j . . - . .
- This Instrument Prepared By Gary F . Ellwood ` ' t'1~# • ~ ~z~ -
- First federal Savings & Loan Assaciation - _ . : _ = • _ . s
of Fort Pie~ce, ~lorida . :f ' t~ ~s`!~ ~
, ' _ L ~ - r. t - ' i
~ R ~~d ~ ~ ~ F ` . ;s ' 'r
Checked By annK PACE 3 ' ~ i.• f
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- , 't . . - - . . . _ f ~ t,~l~~l~i{Lt1` .
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