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3. To placa and con~inuously I,ecp on tho bu~ld;n9s now on c~rea(ier tituate on said land and on aU equipment end personally covcred by this rnorlg-
ege, w~th ell premiums lhereon paid in (ull, fire fnauranc~ in ihe usu~l etandard ~x+!icy (orm, in a:unt appi~ved by the h1021GAGEE, and windstorm
Insurance in fhe vsual standard po1~<y form, in a svm approved by ~he MORTGAGE., i;? ~uch tompany or compa~le~ as 1ho MORIGAGEE may j
dirtdj and al? t+~a and ~vinels~orm insurance policies o~ any of s~id build~n~s, any intere~l tFerein or pa~1 thereof, in the aggregate sum .forciaid or i
In exccss Ihrreof, shall co~tain tha us~at s~anda~d mort~agee clause or such o~he~ clause es Ihe hlortgegeo may roovire, making Iho Ioes unJer said poli- ~
cie~, each and evrry, payab!c to saiJ A~ORiGAGEE as ~te ir.r~nst may apprar, and each and overy wch Foiic~/ ihall be.premptly ass.gned and deiivered ~o :
eny held by taid MORTGAGEE at {ur~har eec~rity fo srid r.~ort~age debt, and, ~01 tess Ihan ten (10) days in advante ot the expiration ol each ~,oli<y, to da- ~ i
iive~ to said h10RiGAGEE e renewal Ihereoi, Ioge~her with a rcceipt for Ihr premium ot svch renewalj a-~d ~here shall be no fire or windsrorm insurance '
lecad o~ an of e~id b~ildin s an iMeres~ therein or ar1 th~reof, unless in the form and wi~h the loes a able es aforesaid; and in the event an sum
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of money btcomes payabte vndrr such policy or policies s~iJ h10RIGAGEE shall havo ~ha op+~on to recaive and apply Iha same on accovnl of Ihe indabted- ~-~'+r ~
neti secured hereby o? to permit said MORTGf+GORS ta rcceivu end use it ot any part th~reof ior pther pur}~oses, witho~t th~reo/ waiving et impair-
ing any eqvty, lien or righl ~ndar or by virtue of rhis mo:tga~e; and in Ihe event said k10RTGAGORS sha?I for any ~ers~n f-,`I M keep the said premises so
insvred, or fail lo deliver prumpily any of said pol;cies of inaurance ~o said h10RTGAGE€, or (a~l promplly to pay (utly a~y pre~nium therefor or in any t
respcct fail to pe:form, d~stharge, execu!e, effed, complate, camply with and sbide by th+s covenant, or any pari hereof, said MORTGAGEE may plate and t,;
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pay (or s.;ch insurance or any parl Ihereof withoul waiving or a(feclin~ any optio~~, I~en, equity, or ri~h1 under or by vir~ue of thii Morlgage, and the t;..~,.
full amount of eath and every ~u~h pay:nent shall be immediately due and payabt~ and shafl berr i~tnres~ irorn tha date thercoi ~ntil paid at the rate ot
nine pei eenwm per annum ar,d togeih•~r with such uverrsr sh~~i be secureJ by the I~en o( th~s morlgage, y_~
4. To permit, commit or su(iar no wasta, impairment or der~riorntion of said prcperty or any Farl the:eoi.
5. To p~y a{I a~d singular the costs, chargcs and expenses, induding a reasonablo anoroey's fee an~ costs o( abttratts of titlc, :ncurred or paiJ at
any tima by said h10RfGAGEE, betausa o~ 7n the eve~t of ~ha (a~~u:e on ~he part ot ~he eaid MORiGAGOR to duly, prompt~y and fuity parf~rm, discharge,
execute, effett, comp!ete, comply v.lth and ab:de by e~ch and every the stipvlatiens, agrerments, conditions, ar:d covenants of snid pro~nisscry ~~ote and thi~ ~
. mortgage any or ei~hcr, and sa:d co,~s, charges and expenses, each and evrry, shall ba rmmad~ate(y due a~d payable; whelher a no1 tnere be noiice de-
mand, attempl to toilect w svit penoing; end sha {ull amouM of eath and every such p3~men1 sl~ali bea~ interesl from the date thereof vnlil paid at the i
?a1e ~f nine per c~n:~m pe,- ~+~i~,un,; and ~i; s~j;d c;~s+s, charfles and e¦r~nses irxurred or pa~d, te9elher w~th su:h iMerest, shall be secuted by the lian of th]i ~
mortg~ge. -
6. That fa) in tf:e event oi any breach ot this Mortg~ge ~r defai~lt on the part of the MORTGAGOR, or (b) in Ihe event nny of seid sum~ of money
hereln referreo to be no~ promptly and fully paid w~thin th;rty (30) days next after the same se~eralty become d~e a~d paynole, witho~t c~emand or notice, -
or (c) in tha evem each ar.~ ~very the stipulalions, agreements, cor,ditions and co~enants o1 sa~d promissory note and this mottgage any or either are not
~vly, promptly and f~lly performed, d scharg~d, executed, effeded, compieted, co:n~f~ed w~~h ar,d abided 5y, Ihen in e~ther or any such event Ihe said ag- - .
grec~ale sum men~io:~ed in said p:o:nlsserr note then remaining u:~paid, with intcrest aa~~ed, and a;! moneys setured hereby, shall become due and pay- ~
ab~e forthwith, or therer}ter, at thr opr~cn of said htORTGAGEE, as (utSy a~xl camptetely as if all of the said sums oi money were originnlly aNpvlated
to be pa;d on such day,_zn~thing in sa:d prcmissu:y nole or in Ihis l.iortgage to tha cuntrary norwith3tanding; a~d therevpan or thereaiter al Ihe oplion of
said h10RTGAGEE, without nQ)1ce o+ d;mand, suit at !aw er in equity, therefore or thereatter-begun, may be prosecuted as if all maneyi secured hereby ;
had maivrcd pnor to its inatitut~on. x
, 7. That in the event that at the bec~in~~~ig ot or at any fime pe~d~ny any su~t upon this l~tortgage, or to foreclose if, or to r~form it, or to enforte _
pavment of any_c!aims hercund=r, said AtORTGAGtE shatl apply to thc Covrt having jur~;d~ction thereof for the appointmeM of a Receive?, such Court shall "
forthwi~h appoint a rr;ei•,er of s; id rertgaged proT,erty all and singu:ar, includ ng d~I -JnCi sing~lar the intonte, profits, issues and revenues from whatever
source der~ved, e~ch and e•rery oi ~vh:ch, ~t being e:.pressly undersiood, is he~eby mortgageJ as if spedfically set (orth and desuibed in the grantin~ and _
habendum dauses hereof, and such Retei~er shall have all the broad and ei(ective fu.nct~o~s and powers in anywi:e entrusted by a Court to a Receiver, and
such aFpoinfinent sh~i! be mjds by such Cov:t as an ad~-~itted equity and a natier of a~sotute right to said MORiGAGEE, and without re~erence to the _
- adequacy or inadequacy of the va`.ve of fhe property mortgaged or to ~t:e sowency or ~nso~vency of sa~d htORTGAGOR or 1he defe~dants, and that such
~encs, profits, income,~ isz~es e~ revenues shall bs applied by such Receive~ aaord~ng to the lien or equity of said MORTGAGEE and Ihe practire of such
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8. To du!y, pr~mp~'y and fully perform, dis:harge, execute, e~fect, compfete, comply with and abide by each and every the stipulations, agreements,
co~ditions and covenants m sa~d p~omissory note and th7s m~rtgage ser forth.
9. Thas in ~he event the owncrshtp of the mortgaged prem~ses, or any part thereof, ~ecomes vested in a person other tlian_!he MORIGAGOR, the
h40RTGAGEE, its s~cc~~sscrs anJ assigns, maY, ~ti~:hout norice to the A502TGAOR, deai with such sutcessor or successo: in interest with referente to this . -
mortgage a~~d the d_i.t hereby secured in tF;e samr manncr as .v~th l.lortgagar w+thout in any way vit~ati~g or d~scharging Ihe Mortgagors' Iiability nere-
under or upo~ fhe debi hereby sewred. P1o sa!e of the ~re:t~ises hereb,r mortgaged and no forbearance on the part of the IAORTGAGEE or its successors - ~
or assigns anci no extension of the time (er the paym.em of che dEbt hereby secured given by the l10RTGAGEE or its wccessors or assigns, shall operate i
fo :e!ease, d~:charge, mod~fy char.ge or affect the origlr.al Iiab:lity of tt~e N.ORTGAGOk herein, either in whole or in part. - ~
10. lt is s:,ec~fically ay~eed t6at t7me is of the essence of th~s conuad and that no waiver of any obligation heteunder or of the obligation se- ~
cored hareby sha;f at any time thereafter.be he:d to be a waiver of the temu hereot or of t:~e instrumenl secu~ed herby. -
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11. In add:tich to the Foregc.n9 :non~h!y paym:ms ot p:ir.c-paf and ~nrerest requ~~ed by the promissory note secured Fereby,'ir~o~ 5~~;', ~~hts
and agrces to pay to mortgagee v:i~h cach month`y payr~:et:t an a~d~~icnal sum es7imated by mortg~gee to be eq~{al to 1~12 of ihe annU~l
ing: . . r~ ~ sf. c f ~j~,~
_ ' ~yr t.~.::. ; .tk -
A-A!t real prop~rty taxes'ev~ed or assesu•d ayai•~st thr acove desc.ibed real estate. _~~l,y~.~:
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B-Prsmiums on fire and vlir.dstonn insura~-ce as nerein rcqu~rcd to be ~arried on the improvements sitvate on ihe aboireJld premises:.~~:#',-
, C-Premiums on sucn mortgsge guaranty insu•ar:ce as mortg~yee shall from t;me to time deem fit to carry on tfie (oan yot~i~e eby. :~_r~L, ~ _
Mortgagee sha:l '.rcm time to ti~r.c notify mortgagor ~n v~rit~ng of the amourt duc and payable hereunder and such su~,sfi t~te n b ~r~J
payable on the J~e dat? of th> next ~r.onth:y payn:ent and each zuccessive month therea `ter urtil mortgagee shall notify rr~stgp o(~ pl~h _
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arnouret. S~ch sums st:all be applied by mortg~gee tovrard fne paymenl of real property t~xes, insurance prem,ums, and mo(~t~~- gu;U a~te
_ premiums. ' ' . - _ ~ .~~~~+{~L.~•~~~~ -c- ~
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IY ~VITDJF55 :VHEREOF, t said 1hORTGAGOP, has~~.~~~ ~ d seal ihe day artd year firsl atoresaid. fs~~~ j~~ ~
Signed, Seated and d fivere ' the presence of: ~,(~Q)~ (r'~u~l i!'~ - " -
_ _ ROCf R POITRA$ ~
- - - - - CLERK C1RC IT COiJRi - ~Seaq
. „ - RECORO YEltIF~~D ~ ~ny .
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~ 3g9890 ~
. STATE OF FLORIDA C011NTY OF ST. LUCiE
rt.
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I HEREBY CERTIFY, That on this 14th day of MaY , A. D. 19 75 ,
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- before me personally a~peared =jamps A, - Powell ~ a~} ,
_ ~eupe~#+vw~y X President es~~+F- - Sec~~tasy - " _ , af
- Fair ~-_°oti~~e11 Constru~tion Cq9p~ny - ~ a Florida - Corporation, tc me -
known to be the person described in and who executed the foregoing instrumer.t and 3~vs~aN~ a~k~io~vkdged the exe- ~ -
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cution thereof to be -his free act and deed as such officer for the uses and purposes therei htian~F:~Sofi~'that he ~~l
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- affixed th~reto th~ official seal of said corooration, and the said instrument is the a~' c~' sAii~ ~orqoration.
W17NESS my hand and official seal at Fort-Pierce ounty~~_.. ~~ate. a~~~'_': ~
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This inatru;~ent prepared by 1~ - _
J. N. P.e~t~e=tsi Jx. - ~ otary lic, in a for State'~Cou~ y
First Federal Savin~s 9 Loan
My Commission Expires: _ 1.,.~..•~•• -
?~SSOC1dtlOll Qf F't. Piexce; F~~ Notory Pubi~c, Srate of Fb~ido ot La?~ _'.'~~ri~"v,->r e
My Commisuoa Expires iw~. T7, 197~ . - . _ ~ -
~ ..6ondcd by u,~er,~o~ f:rc 1 Cssval~r 4'w ~ ' - 'i°
Chec+ced By . - BOQK ~~V PAGE~16~ - #
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