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3. To place and continuously kecp on ?he bui'J~ngs nox or hereafter s~ru~te on s,~t~ la~~d an~1 ~n all eq~ip~nent anJ pereon~!ly covered by this mortg•
ege, w~th all premiums theraon pa~d ~n luli, t~rc insurancc in ~he us~~1 s!~~w~i+rJ ~:ol~cy (orm, in a sum a~.pro~ed by tho /AURTf•AGEE, and windstorm
Insurante in It~o usual stanJard ~oi•cy lorm, in a wr.i ap; roved Ly ih~ tAORTGAC'iEE, in such tompany o~ tompanies as Ihe tdORiGAGEE may
Jirect; and all (ire and .v~odsturm insurance ro!itics on any ol s~~d hv~'d•ngs, any iMerest Iherein ur part thereof, in thC aggregate sum atoresatd or
(n er.cess thereof, shall confain 1he uswl s~anct~rd mor~9agea dwse or such o~Ler cla~sa as the Alortgagae may requ:re, maAinq th~ los~ undrr ~i~d poli• ~
cies, each ar~d every, payab'e to said titORivAGEE as ~ts int~r~~et may appear, a~,c~ rach .~nd every iuch ~w!:cy sha~l be prompily a~s c~~~ed a~~d delivrred to }
any hutd by said A10RIGAGEE as iu~ihe~ s:curity ta said ntorlg.~ge dtb~, and, ~iut Izst th.~n ten (10) diya in aJ~a~~te of the expirai~on of ench pollcy, to de• ' {
liver to said MORIGAGEE a rene~val thereof, Ioc~elhe• wifh a receipt (or thr prc•nium o( such ~ene+nat; and thrre shall be no (ire or ~vindsionn insurance ' ~
placed on any of said build~ngs, any ime~cst ?hcrein or pa~i th~rcof, unless in tht tarin and.x;th ihe Icss payau!e ~s aforesaid; a~d i~i ~he eveM any svm ~
Of money bt:om~s paya~~e undar such polity or polities s~iJ hIGRiG.aGEE shall have th~ oplion to rec•:iv~ anJ ~pply the same on accoun~ ol tl~e indebted• ~
ness secured harcby or to pe:mit sa~d ~.50RiGAGORS to ~ecei~e and use il or tny pa:t ~h~•:cof ior oti,er pur~:cscs. ..I~ho~t ~h_~,:» ~,~i~i~i~ or nnpa~r• ~
~ ing any equ~ty, lien or rigfit undcr o~ by virtue of ~his rnc:tgage; and in tha evenr safd n102TGaGORS sh~ll for any reason (ail to ke~p the sa~d premises so j
insured, or tail to dil~~cr ~~~omplly any of said palicies of insu~ance to said A10RiGl~C;EE, or fail promptly to pay fully any pre~~:iu~n thcrcfo~ or in any
respcct fail lo per(orm, d~scharge., executa, ef(eU, compteta, co~»p~y wi~h and abidE by this covenant, or an~• p~rt htreoi, said MORTGAGEE ~nay p~ace and ~
pay (or such insurance or any parl ~i~ereof w•ithout ~vaiving or affecting any option, lien, e:,uity, or righ~ unde~ or by virtue of this hlortga9e, and Ihe ~
fu!1 amou:it o( each and e.e~y s~~ch F~ayment sha!I Ee im~nediatel~~ due and Fayabte and shail bear iNerest trom Iho date Ihcrco( unlil pa~d at 1he ratc ol {
nine per centum 4~ar a~,nu:~: and tog_•ihrr ~tiith sv:h intertst sha{i t•c se.utad by ti~c Gen o( Ih~s mortgage. ;
d. To pzrmit, tommit or suffer no v~aste in,paimicn~ o: Jctar~orat~cn of said property or any part thtreof. i
5. To pay all and sinyutar the costs, charges and expe~~ses, includ~~~g a reasona~!~ attomey's (ee and cosis of abstratts of title, incurred or paid a? ~
any time by said h!ORIGAG:E, betause or in ~hc eve+~t of ths (ailure on ihe par~ of ihe said h10RTGAG4R to duly, promptly and i~~lly perform, dischargr.
exec~te, effecr, cen,plete, co~rply ~v~th and a6:da by each and every ihe stipulat~ona, agreemems, conditions, and covenaros of said promissory note and th~s ;
mor~gage any or e;the:, and sa:J costs, cNar~e~ a~~d ~~F~enses, eech and every, ¢hz~l L~ Smn-.rdi~tely d~e a^d payab!e: v.•hether or not there be ne~~cr d•r ?
mand, altempt tu co11eU or sui: pend~np; and Ihe fufl a~no~nt of each and c~•ery such payment shall bea~ intereit from the dat~ thereof until paid at the x
rate of nine per a_nsum f.er annun, and ait sa~d cosls, char3es and axpenses ir.curre~ or paiJ, together w~Ih such iNerest, shall be sewred by the lien of th~s ~
mo~tgage. .
6_ That (a) in the event of any breach of this Mortgage or default on tha part of thc 1.10RTGAGOR, or (b) in the event any of sa:d sums of money
herein referred to be not promptly tnd iully paid vrithin tMrty (30T days next aiter the same se.•era!ly become due and payable, withoul demand or nolice, ~
• or (tj in the cvent each and every the siipu'ations, agreements, tond~ticns and tovenants of se:d promissory note and th~s mortgage any or eilher are ~ot ~
~uly, prornpdy and fully performed, d:scharged. exec~?ed, e(fected, comptet~d, cemp;Eed vr~th ar.d ab~ded yy, then in e~ther or any such event ihe said ag-
' gr~atr sum n~entioned in s~id promissory note then remaining unpaid, w~th intere,i OCCt~[CI, and all moneys setured hereby, shall become due and pay i
ab!e forthwith, or thereaitcr, at the opt~cn c.( sa~d A1021GAGEE, as ful~y ar.d cump:etc~y as ii all of ihe said sums of money were originally stipu~~ted ~
ro be p.~'.d on such day, anythiny in sa:d pro:n~ssory note or in this A!ortgag~ to the canrrary nohvi~hsrand~ng; and thereupon or thereafter at the option ot #
said 1.10RTGnGEE, witfidut norice o~ demar.d, suit at law ar in eq~ity, therefore or Iher~atter begun, may be prosetuted as if all moneys setured hereby
had matured prior to i~s insti~ution. ,
7. That in the event that at the beginnina ef or at any iime p~nd~ny a~iy sult upon this Mortgage, or to ioretlose it, or to reform it, or to enf~rte
payment of any daims hcreu~zder, s~id !.!ORTG~GcE shaN apply ta the Court ha~ir,g ~uriscl:ct~un thcreoi for the appointment of a ~2eteiver, such Court shaU ,
iorthwith appo~nt a re:ei4er of said morlgageci prop_rty a~i and siny-ular, indud~ng ~il and si~~gular ~i~e irtcome, protits, issues and revenues fron whatever ~
seu:ce d:rived, ea;h and every oi wh[cF~, ~t be~~~g e~press':y unders~eod, ~s hrveuy m:rfgaged as ii speufically sel forth and described in Ihe granting and ~
habendum c!uuses hereof, and such Receiver shaU have a!1 the b:oad and eifec~;ve fcrc!.ans and powers in any~n•]se emrusted by a Cou~t to a Receiver, ar.d
such appoirtment shall be made by such Cow.t as an admitted equit~ and a r.•atter of at~solutr right to said h10RTGAGEE, and without referente to Ihe
adequccy ot inadeqvacy o~ the va(ue of Ih•_ property morrgaged or to the son~e~~ty or i~~solvency of said h50RTGAGOR or the defendants, and that such
rents, profits, income, iswes and revenues shail be applieJ by wch Rec~iver accord~ng to the fen or equity o( said f.10RTGAGEE ar.d the praUice of such ~ ~
Court. ~
8. To du~y, pro:npt.y rnd fui!y perionn, d~scharge, execute, effect, com.plete, co~n~ly r:;th and a6ide by each and every the stipulations, agreements, ~
tanditioris and tavenants in so~d promissory rotc and ~his mor~ga~e s_t forth. ~ ~
9. T~:at in the e~e.^•t the owne~ship of the mortgag:d premis?s, cr any part thcrrof, 6ecomes vested in a person other than the h50RTGAGOR, the ~
1:,ORTGAGfc, i~s succcssors and assi~ns, rr.ay, w~eho~t retice so the ;.lORTGAJR, deal rri~h such successor br successor in interesf ~vith reference 1o this ~
mwtgagc ar•d th-r debt t~creby se:ured in the same murner as with 1.'lortgagor withou~ in any ~vay vitiating or d~zchafging the Mortgagors' liability here-- _ti
under cr upon the dabt hereby securrd. No sa'•~ of tt~e Fremises hereb~ mortgaged ard no ferbearan~e on the part of the 1~10RiGAGEE or its successors ~
or assigr,s and r.o exters:on of ~he tima for th~ payment oi the debt he~e6y secured given by the 1dORTGAGEE or its successors or ossigns, ahall operate ~
to re'case, d:scharyz, r.3od~fy ch"„nge or affect the origlnai liab~l~ty of•th: N.ORTG.AGOR herein, either in vchole or in part. - ` ~
10. It is spec~fi,atiy agreed that time is of the essence of t1~is contract and that no waiver of any obligation hereunder or of fhe obligation se-
cvred hereby shali at any tirne thcreafier be heEd Iv bc a v~aiver of th~ ~erms he:eof or of the instrument se;ured herby. ~
11. In acid:t:o~ to ~he forego'n~ ~rr,onthi~ pzyments of princ'pa! and in~~rnst requ~red by the prom~ssory r.o'e secured hereby, morfgagor covenants
and agrees to pay to n:o:tn~gee v.ith each rorn;},!y pal,,:e,~t an ~c~d::ronal svm est:^~:atecl b/ mortgagee fo tre equal to 1 f 12 of tFe arniva~ Sost of the follow-
ing: . . ,
A-ra?I real pr~perty taxas :i:~ned or ass_=sscd agi~•;st tF.~~ above d~~svibed r~al esiate. ~
B-Pra~-~:,~rs on iir~ and •.•:~r.ds;c~m ~nsurnr.:e as he:c~n .rq~,red to be ca~r~ed cr. the :m, rovements s+tuate on th. above described premises. ~
C--Pren~~u:, s o:~ svch mett~?ae gua;a-f; ir.s~~ra-.ce as mortgagee sha~l fro r. t'me to time deem fit_ to earry on tha loan secured hereby.
s
P.lortgagee s%~af~ from ~i-na to t:me no~:±y r.:ortgag~r Sn •.vrit;ny of the ar.ouot d~~ and payable hereunder and wch su:n shatl thereupon be due and ~
payabte on the d~z cia!e oi the next -~~a~thiy payn,c•nt and each s~ccessive rronth the~ea`tcr ur.rit mortgagee sha11 notify mortgagor of a change in such g
amounL Such su:r.s shall ce app?iad 'ol mortgcq_c tef:ard 1he payment of real pcop~rty _axes, insurance prem~ums, and mortgage guaranty insurance i
z
premiums- ' #
IN \'JiTP:ESS '.'iHER~OF, the sa;d ~.',O4TGAGOR has h~rcunto se! h~s hand and scai thz day nd ar first aforesaid. f
Signed, Seated and detivered in the presence of: , ~
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w°c~~w ~~c ~ ~
fiOCE~ ~'.83TitAS ~ ubert U. G1 w' e~~ ~
- . CL.E~iK CiFGUiY COlIIIT~, ~ . (Seal)
. - - : llf.C4P.0 Y~lilf3f0 ~ (Seaq
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h i in G wi
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~ ..~L ;Q.r..~., _ e ad tsea~> ~
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STA1E OF FIOR(OA - ~ ~ O~ ~ ~
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cour~TV c~f _ St . Luc ie 1 55 ~~ns,~c _
v v
Befere me perso~a':!y ap;.ea~ed Robert L). GlaOW1Il _ _ _ and ~
_ C~1T_1St lil@ C. Gladwin _ h~3 wife, to me •~•ell k~own and kno.vn to me to be ~
Ihe indrvidua's descr~b_d in and who executed the fe:egoing instrumen•, and acknow•.edged before me that they execured the same for the purposes ~
- therein expressed. Ar:d the sa~d_ Ch~1St 1ilQ C. G1ad:ylI1 - - i
v,dfe of the sa~d Robert U. Gladwin ~Po~ a separete and private '
exam?nation by me taken separate and apart from he~ said husaand, atknowledged to and before me that she ezecuted said instrument freely and volum ~
larily and w~thout any compulsion, constraint, anprehension, or fear of or from he: said husband.
V~ITNESS my hand and offica! seal th~s_ d3y of JUi1Q _ A. D. 19 75 -
' Notary Public in and for t e Stat Flerida Large
_ _ - A1y Commission expires:
Retvm To: /
first Federal Savings 8 Loan Associat~on , ~~t~~lltil~r,~~.~
Of fe:t P:ero=- . ' . a~~\ ~ s~~ .
fort Pierce, ilorida _ - ~t~\ t.-~ t' C~+ft?~ ~ri~'
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J ~ . r.:'.i _ ~ ~ . _ '
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This Instrument Prepared By John W. Col l ins : ~ f~~- . -
First Federat Savings 8~ Loan Association f~
~'~Ii3 L?" :
of ~ort Pierce , Florida - ~ : _ ._"•'`c ,
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- ° R 240 2509 j ~
Checked B ~ 80GK PAGE ` r; a,
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