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3. To placr ~nd co~tinuous{y keep on tl~e bu~!Jh~gs ~otiv or herralter ?~tua~a on said IanJ and on a!1 ei~~p~ceni anJ peroo~ally covered by thi~ morrg• ~
ege, with all premium~ thereon pa~d in (uli, (ir~ ins~ranct ~n ths u~u~l sta~xlerd po!icy (orm, in a tum e~.proved by Ihe h1t7RiGAGEE, and wind~tonri ~
tnturanta in tha ~swl standa~d pol;cy (orm, in a aum approv_d by ~he MORICAGEE, in wch company oi compenies as the A~ORiGAGEE may
di?ect; and 'ell (ire and windstorin insurance poticics o~ti eny of s3id twild~ngs, eny tnterest the~ein ur pert thereoF, in the eygrtgale si~m aforesaid o- }
i~ excest ~htreof, shatf conrain the usval e~andarJ mort~ager clause or ~uch o~hrr c~ausa as ~he Mortgeyea mey req~~re, making ~he :ois undrr ~aKl ~li-
ties, ~ath and evrry, payab~a to said A10QTGAGEE as ~I3 i~verest may app^ar, and each .+nd every suth po'icy shdl Ix ~ton:ptly a~s 9neJ and delivered to
any helJ by said MORIGAGEE a~ fu~iher security to said mortqaga debt, and, not Ic~s Ihen ten (10) days in advance oi ihe ezpira~ion ol each pol~cy, to dt•
liver lo said h10RTGAGEE a ~enewal the~aof; together wi~h a rete~pt for Ihe pra~niurn of such ~encr.al; and Shrre shall ba no f~re or winds~o~~n insurante
placed on any o( said b~ild~n~s, any iniercet therein or part the~~of, v:ilcss in thr lorm and with Ihe loss payatlc ai aforeseid; and in ~hc eveM acy sum .
of monay becomes payable imdrr such poticy or pcGcies sa~d lAORiGAGEE ~hall have ihr opt~on to recaive and appty tha same on account of the indrbted-
ness secvred hereby or to pcrm;t sa~d 1.'IORiGAGORS to recei~a ar,d usa i1 0: any part the~eo( ir,r ochcr 4;~ry cses, ~•.i~hn,it ~h:~r: i~~ ~~afri•~7 or rnpa~r-
tng any equ~ty, lien or right und~r o~ by virtua of thi~ mo:tc~agc; and in It~o ev~~n1 sa~d A1pR1GAGORS shall (ar ~~iy reason fail ~o keep tlie said premisss so
ineured, or (ail to dcliver promptly any-of said poficizs of insuraiua to said h1CRTGAGEE, or fail p:omptly to pay (ully any premium therafor or in any
respect (ail ro perfo~m, ~~schar9e, execute, effec~, compteta, comply ~vith and abide by th~s covenant, or any pa+~ hareot, said MORTGAGEE may place and
pay (or such insura~ce or any part thereoi without waiving or affecting any opr.on, lien, equ:ty, or rinht under or Uy virtue ot this 1~!oilgage, and tht
full a~no~nt of each ani! every s~ch paymenl sh~ll be i~~media!ely due and p.r~~bte and shall bear iMCrisl irom ihe datu thereof un~il paid at the rata ol
nine p~r tentum f:.r annun~ a+~d to~vH~cr tiviih suth inle~rsi st~ali Ue sec~rrJ l~y the lien o( ~~~is mortgag~.
4. To permEt, tommit or suftcr no wasle, inipairriicnl or dcterioration of sa:d preperty or a~y parl Ihereof.
5. To pay all and singuiar the costs, charc~es end expenses, i~itludin~ a reasonable atromev's fee and cosls of abstracts of title, incurred or pa~d at ~
any ti~ne by sa~d hlOR1GAG:E, because or in the even! of Iha fa~luae on the par~ ot the said MORTGAGOR to duly, prompity and (ully perform, discharga.
execute, effect, complete, comply w~N~ anJ eb:de by ea<h and every t~~e stipulat~ons, agrerments, conditions, and covec~anta of said promissory note and th:s
mortgaga any or eS~her, and sa:d costs, cherges ar~d e:~~enses, each and cvery, shall be +mm~:IiLt@Iy due and Fayabtz; whether or not Ihere be netite dt
, manu, ~ttempt fo coltect or suit pend~ng; and the (ull amount of each and every such paymen~ shall bear interast Lom ~h~ dat~ there~f until paid at the ~
rate o? nine ~;cr canWm p.cr ann,,;r.; and ail said cos~s, charges ~nd expenscs ~r.wrreJ or paid, logether w~th such interest, shall be secured by the lien of th~~
~ mortgage. ' • ;
6. That (a) in Ihe evero of any 6reach of this Mo~tgage or default on tko parl of the M.ORTGAGOR, or (b) in the event any of said svms of ineney ~
herein referred to be not p ornpUy and Fully paid within thirty i30) days next aher the same seve~a!ly become due and payable, without demand or notice, ~
; or (c) in the eveM eath and every the stipu!ations, agreemente, cond~rions and covenants of said promissory note and th~s mortgage any or either are ~01 }
i- i~ly, promptly anJ fully performed, J s:h;rg<d, e+cecuted, efEected, co~npteted, compfed w~th and abided yy, then in either or any :uch everd Ihe said ag- ~
! gregate sum mentioned in said promissory note then ~emaining unpaid, with interest accrued, and atl moneys secured hereby, shall become dua and pay
~ abie forthw~th, ar the:t3ft~r, at tFe opt:an of said.h!U~TGAGE~, as fully and comple~cly as ii all of Ihe ssid sums of money we.re originally slipulated j
~ to be pa:d on wch d~y, any~hing in sa:d pro:n~ssory note or in this Alortgag~+ to the conuary nohvithstandi~~g; and thereupon or thereafte~ at the option of
said MORTGAGEE, w+thovt norice or demand, suft at taw or i~ equity, therefore or thereaf~er begun, may be prosecutea as if ~II moneys secured hereby
had matored pnor to its institution. .
~ 7. That in tha e~ei.t that at the beginning of or at any time pe~tlirx~ any su;t upcn this Mortgage, or to foreclose it, or to reform it, or to enforce
payment of any c?aims h.reunder, said A10RTGAGE~ shal~ .ppty to ihe Court havi,:g jur;sd:ction lhereol fw the appu~mment of a Receiver, such Court shall T
i (orth.vith appaint a re.ei•rer o( said ~r,orfgayed pro~,erty a!I ar.d singular, i~ic~vcl eg ail and singular the ir.come, profits, issues and revenues (rom w•hatever
~ sowce derived, each and every of wh~ch, ir fnir.y •~Yp:essty understood, is herrby mortg3ged ~as if specili~ally set torth and describFd in the granting and ' ;
; hab~ndum dauaes hereof, and such Receiver sha!i hava aL' the broad and eiiea~~e f~r.ctinns and powers in anywise emrusted by a Courf to a Receiver, and f
such appointment sha11 be rnjde by such Court as an admined eyuity and a nattc~ of absolute rigM to said MORTGAGEE, and without reference to the ~
adequ;cy or inadrquar~ o! Ihe val~e cf the propcrly mortgaged or to rh~ so,venc~ cr in:olv_ncy of said R40RTGAGOR or the defendants, and ~hat such
renrs, profits, income, issues ar.d revenues shafl be applied by such Reccivcr ~ccord~ng to the lien or equity of said 1~10RTGAGEE rnd the practice of such
~ Court. -
~ 8. To dvly, prempl~y and (ully perform, discharge, execu~e, eHect, complere, c~:nply with and abide by each and every the stipulations, agreements, ~
tonditiens and covenants m said oromissor~r r.ote and this mortgage s•~t forth.
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9. That in the event the otivnershlp of the mortyaged p~emis~s, or any part thereof, b~comes-vested in a person olher than the /dQRTGAGOR, the
MORTGAGEc, ifs wcc•_sso~s and ass~gns, may, wiihout notice to tt~e S!ORTGA04, deal ~vith such successor or successor in interest ~vith reference to this _ i
mortgage ar.d the d=Lt F;erehy secured i~ the same manner as ~ti~ith ;tortyagor ;vitheut in any ~vay vit7ating or discharging the lAortgagors' liability here- ;
~ un-'_r or upon th•± debt herc•by secured. P;o sate of th? F•r~n:ises her-~by mortgaged a~d no for6earance on the parl of the /,50RTGAGEE or ifs success~rs ~ ~
~ or ass~gns and no ex~ens~on of the time for the payrrent of Ihe debt hereby secu~ed giv~n 6y Ihe 1rORTGAGEE or its successors or ass:gns, ahall operate s
~ to re!ease, d,stharge, rr.5d~ty change or afie:t thr orig~nal liau~e;ty of Ihe N.ORiGAGOR herein, either in whols or in part. - ~
! 10. It is spec~i~cally agreed that t~,ne is of ~hc essence of tt~is contrzu and that no waiver of any obligation he~eunder.or of tha obligation se-
cureci hareby sha!i at any lin:e th_reafter bz he;d to ba a waiver of the lcrms hereof or of the instrument secured herby. , " ~ ~
in a;3~~:r.~ to thz ier~-ga'c~ r.;cn!h!y payn;_n~s of ~~ri::c'pat and ime~es! requ~:ed by the prom~ssery no!e secured hereb/, mortgagor covenanis ;
and agrees to pay to mo•rgeg>_e ~•:~rh ~ach memh~y ;.ay~: ent an ad~J~r'cnat su~~~ cstE•~~ate:l by mo:tgagee to be equa! to 1 j 12 of the annual cost oF the foflow- +
" ingc
- A-All reat property Ja~~s !e_~ea o: ass~ssed a3~i•~st the a'vove descri6~~d reol estate. -
' B-Pre:n~u~ns on fire and v~;ndsto•rn ir.s~~ar.te as i~erein requ;.ed to be carri~d en :h== imprcvemen!5 sitvate on the above d~scribed prem:ses. ~
C-Prer.t~~ms on wch r.:ortnage gva+anty ir.sura~:ce as +nortga~ee shat) frcm t:me to time deem iit fo carry on the loan secured hereby.
` A~ortgagee sha~t .'rom t6~ne to tir~e nes~f~ morfg~3cr ~n -r:~~ring of tha ;n:ou~! due and payable hereundar and such sum shafl thereupon 6e due and ~
? payable on the clue dat.~ of th~ rtsxt monthty paqment and each successive monih thereafier vrtil mertgagee shall notify mo:tgagor of a change in such
t amount. Such sums sL-aii be applied by m:,rtga~+:e to.rfard she payment of real pror:e~ty taxes, insuraice prem~~ms, and mortgage guaranty insurance . ~
? , premi~ms..
.
_ Itd ~JIiNE55 WHEREOF, fhe sa+d t:,ORTGAGOR has hereunro set his hand and seal th> day and year first aforesaid.
Signed, Sealed ard delivered in the presence of: ~ - ~ <
z f~j ~ ;
~it~ls-o ` ~T.f~{iC{E ~~5~'A' ' Seaq t
~OCfF (sea~~ . ~
z; / -
: ~ CI~E~~ C~~CVIt CBURt ~ cseaq ~
~ . .~rr__ - _ ~ - RE4AR0 YER~F?E~. • ~
~ (Seaq
STATE OF FLORIDA - ~ ~ Z0 • ~ . ~
_ cour~rY oF _ St . Lucie ~ . ?
~ u. 3~~'76`~
Before me p~rsonally Fn~.ea _ tnli l li am L. Bdl12~J and II
` j.O1S . Bailev h~s wife, to me we11 known and kno•.vn to me to be -
thz ind~Yiduals dr:crib~d i~ and v~ho ezecuted the foregoinq instrument, and atknov~ledged before me that they execu~ed t4~e same for the purposes
Iherein expressed. Md the said_ ~ls S. B~iley - ~
- _ ~
- rwife oi the said _ _ W1111 ~R L. Bai 1 ey , upon a separate and private
exam~na~~on by me taken s~parste and apart from her sa~d husband, acknowledged ro a.~d before me thal she execvted said instrument treety and volun-
rarily and w~thovt any compuision, constraint, apprehens~io~n"
~fr fear of or fram her said husband. _ -
~ Y1ITNESS my hand and offic~al seal th~s_ LQ-'~' day o4 - '7Une A p 19 75
~ ~d- ; - . ~
~ Notary Public in and for e St e af Florida at large - -
- h1y Commission expire; -
, Rei~m To:
- - ~~,.r <,r~tn:~ 2f Un^~
- First fed~ral Savings 8 loan Associat~on ~ ~ • - •
Of Fo:t P:e:c~. ` _ . . . . . F;.-.. ll.;f. I. i:'i7 - - -
fort Pierce. Flo:ida n..;~,._,.~ ~,:~.r~~, if.,,,.,,'_„ - •
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: ' ' ' • - ~ V'~;ryt_
This Instrument Prepared By t2ichard K. Kayes -~'v~.:
~ First Federal Savings~8~ Loan Association - ~ R _ f :
~a of Fort Pierce, Florida BOOK~~O PACE2398 = ° ~j ' - _
_ . - . _ : % ~ _ _ :
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I~ Checked B ~ ~ _LJ -,:~cz~' ` 1
-i.'~f/~.~"J• ' C1~.
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