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Home My WebLink About1703 ~ 3. To piace and continuously ktep on ?ne bui!dings now or hereafter situate on said land and on all equipment and personally covered by this mortg- age, with all premiurm thereon pa;d in fuil, firz insuran:e in th4 usual standard policy for~n, ~i~ a sum appraved by Iha h10RiGAGEE, and winds~orm insurence in the vwal standard pol:ty iorm, in a sum approved by ~he A10RTGAGEE, in such tompany or companies as the A~ORTGAGEE may dircU; and all fire and windstorm insurance polides on any of sald build~nys, any interest therein or part Ihereoi, in ~he aggregate tum aforesaid or in extes~ Ihereof, shall contai~ the usual standard mortgagee c~ausa or such other clause as ~he Mo~tgagee may requira, making tha loss under sa~d poli- cie~, each and every, payab}e to said A10RTGAGEE as i~s interest may appear, and each and every such po~icy shall be promptly ass gned and delivered ~o } any held by said h10RTGAGEE as (urther security to said rr.ortgage debt, and, not tess Ihan ten (10) days in advante of the expi~ation of each policy, lo de• ~ liver to s~id h10RTGAGEE a renewal thereof, together wilh a reteipt for ihe premium of su~h renewal; and Ihere shall ba no fire or windstoim insurance E placed on any of said buildings, any interesl Iherein or part ihereof, unless in the form'and with the toss payable as aforesaid; end in the evenl any sum ~ of money becomes payabte under such policy or policies said A10RTGAGEE shall have the option to receive and apply the same on account o~ the indzbted- ness secured hereby or to permit said MORTGAGORS ia receive and use it or any pa~t ~h~reof for other purposes, ~vi~hout th_rcbr ~vaiving or ~mpair- ing any eqvity, lien or right under or by virtue of this mo: tgage; and in Ihe event said MORTGAGORS shall for any reason fail to keep ihe said premises so y innured, or fail Io deliver promptly any of said Fo~icies of insurence to said MORTGAGEE, or fail promptly to pay fully any pre~»ium therefor or in a~y ~ respect fail to perform, discharge, execute, ef(ect, complete, tomply with and abide by this covenant, or any parr hereof, said MdRTGAGEE may place and ~ pay for such insurance or any part thereof without walving or affec?ing any oplion, lien, equ~ty, or righ~ under or by virtue of this Alertgage, and 1he full amount of each and every such payment shall be immediately dve and payable and shall bear interest from tha date thereof until paid a1 the rate ot j nine per centum per annum and to~ether with such inter~st shail be secured by thr lien of Ihis mortgage. 4 4. To permit, commit or suf(er no waste, impairmenf or deterioration of said property or any part thercof. ~ 5. To pay all and singular the ~costs, charges and expenses, including a reasonable attorney°s fee and costs of abstracts of ti?le, incvrred or paid at ~ any time by said MORTGAGfE, because or in the event of the failure on the part of the said h10RTGAGOR to duly, promptly and fully perforrn, d~scharge, exec~te, effect, tomplete, comply w~th and ab:de by each and every the stipulations, agreements, cenditions, and covenants of said promissory note and tliis 3 mortgage any or eiiher, and said costs, charges and expenses, each and every, shatl be immediate~y due and payab!e; whether or nat there be no~ice dz mand, attempt 1o collect or suit pending; and the full amount oF each and every svth paymeM shall bear interest from the date thereo} until paid at the rate of nine per centum per annum; and all said costs, charges and expenses incurred or paid, logether with such interest, shall be secured by tha lie~ of thif mortgage. A. That ja) in the event of any breach of this Mortgage or defaulf on the part of the MORTGAGOR, or (b) in the event any of said sums of money hrrein referred to be not prorrptty and fully paid ~vithin thirty (30) days nex~ after the same severally become due and payable, wi~hout demand or notice, F or (c) in the event each and every the stipulations, agreements, conditions and tovenants of sa~d promissory note and th~s mortgage any or either are n~l ~ ~v!y, promptly and fully performed, d~scharg:d, executed, effetled, completed, complied v~ith and abided tiy, then in either or any suth event the said ag• j gregate sum mentioned in said premissory note then remaini~g ~npaid, v~i?h interest accrued, and all moneys secured hereby, shall become due and pay s able fortliwith, or thereafter, at the option of said h10RTGAGEE, as fully ar~d completely as i( all of the sa~d sums of money were originally stipulated to be paid o~~ such day, anything in sa;d promissory note or in this hlortgage to the tontrary notwithstanding; and thereupon or thereafter at the option of ~aid MORTGAGEE, without norice or demand, suit at law or in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby s had matured pnor to ~ts institution. 7. That in the event that at the beginn~ng of or at any time pending any su~t upon this Mortgage, or to forectose it, or to re(orm it, or to enforce . .G.. ..t ~t,.. ni a Pn~n~~n. e..~1. !'n.~rt ehail : aa-.:.:: . _ . ' ' _ . Na~~~.c.~~ ForlFiwith appoinl~a receiver of~said,mortgaged'property all and~singular,'includ~ng•all ~and singular the income, profits, issuet and revenues from whatever source derived, each and every of which,-it being expressly understood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof, and such Rgceiver shall have all the broad and effecti~•e fvnct~ons and powers in anywise entrusted by a Court to a Receiver, and ~ cuth appointment shall be mada by such Cpurt as an admitted equity and a matter of absolute right to said h50RTGAGEE, and without re(erente to the adequacy or inadequacy of she value of the p~operty mortgaged or to the sotvency or insolvency of said f.50RTGAGOR or the defendants, and that such renfs, profits, intome, issues and revenues shall be applied by such Receiver accordin9 to the lien o! equity of said h10RTGAGc~ and the practice of such Court. ~ 8. io duly, promptiy and~fully pzrlarm, discharge, execute, EffECt, complete, cemply with and abide by each and every tha stipulations, agreemertis, ~ tonditions and covenants i~ said yromissory note and this mortgage set forth. i . a 9. Thal in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the ± h10RTGAGEE, its successors ancl assigns, may, ~vithout notice to the MORTGAOR, deal w•i~h such sutcessor or successor in interesl with reference fo this morlgage ar.d the dzbl hereby setured in the same manner as with 1~5ortgagor without in any ~vay vitiating or tl~scharging the Mortgagors' liability hare- under or ~pon the debt hereby secured. No sa!e o( the premises hereby mortgaged and no forbearance on the part of the 7110RTGAGEE or its svccessors or assigns and no extension of the time for the payment of the debt h~reby setured given by the 1r~ORiGAGEE or its successors or assigns, ahall operate to release, discharge, modify change or afFect the original liab~lity of the MORTGAGOR herein, either in whole or in part. 10. It is specifically agreed that time is of the essence of this contract and that no waiver ot any obl~gat~on hereunder or of the obligation se- tured hereby shall at any time thereafter be he!d to be a waiver of the terms hereof or of the instrument secured herby. 11. In add~tion to the forego:ng rr~onthly paym~nts of princ'pDl and interest requi~ed by the prom ssory no!e secured hereby, martgagor tovenants and agrees to pay to mortgagee with each monthly payrnent an add~~ional sum estin,ated by mortgagee to be equal to 1/12 of the annual cost,9~/bj_,~11ow- ing: l t~ ~ ~ A-All real property taxes levied or assessed against the above de:cribed r~al estate. B-Premiums on fire and windstorm insurance as herein requ~red to be carried on Ihe improveme~ts sitvate on thr above d=scribed,p~emises. - ~ C-Premiums on s~ch mortgage guaranty insurar,ce as mortgagee shall from r,'me to time deem fit to carry on the loan securer} 6er~~iy. ! Mortgagee shall from time to time notify morlgagor in writ~ng of the amount due and payable hereundar and such sum shall ;hpr~ipon be due ar(d~. ~ ~ payable on the due date of the next monthty payment and each successive month thereafter ur!il mortgagee sha!I notify morlgagQr of~ charuje in spch: ' amount. Such sums shall be applicd by mortgagee tovvard the payment of real property taxes, insurante p~em:ums, and mortgag~ %~~'atanty: irisurtn[e~ : ~ premiums. r L . IN Y~ITNE55 YINEREOF, the said h10RTGAGOR has hereunto set his hand a~d seal the day and year first aforesaid. L~ t ~ E ~ , _ ' ne , Se led an elive~~n hs~resence of: B~ • . A , ~`i , ~T RP ~ ~ 'o"~~~•';; s L~ ` $Ea ' i _ , ~ k*ar . u am, n~ ~ ° cs~ai~ ~ ~ t t• C' c t; ' (Seal) eer~e e ter~. ecretar~~- - - - - • - - - - - -Trea~ur~r~__ . STATE OF FLORIDA COUNTY OF ST. LUCIE ~ I HEREBY CERTIFY, That on this day of Februarv - , A.D. 19 h~, ~ ~ Fdward L Durham G ~ ~ before me personally appeared ~ • and e o r~ e B, ~l e l t e r ~ respectively President and Secretary- Treaaurer o{. C.L.A.G. INCORPORATED Floric3a ~ ~''`f' ~ ; . a Corppr~t~on','~fo'me'% : ~ ~ . } known to be the persons described in and who executed the foregoing instrument, and severally acknowledg@~ :tF~,~~x~ sution thereof to be their free act and deed as such officers for the uses and purpeses therein mentioned; ~~~,t~~t~,.th~~y = ~ ~r : : ~ affixed thereto the official seal o f s a i d c o r p o r a t i o n, a n d t h e s a i d i n s t r u m en t is t he a c t an d dee d o f ~ a~ d.,corpe'v,~io~.:: ' St. Lucj.e WITNESS my hand and officia) sea) at Fort Pierce , said county nd state. . . , ;,fIL ~,ND~~~COf~DEDK ~.t ~ .~L~~ ~ , ..',,:.1~. { , . N~~...~~~.~i;~.i:~. _ "r~4__i~.:,9 0 0 _ , , ~r/-- Notary Public, in ah`d.for S~tg,and,Cqun?~,,~fp{q~igl. . ' ' - ,ii~GGG My Commission Expird3:~~~1',` . ~ r 3, 1`i~`) rFGR y P~ , 3 6 ,i _3 _ ~ 9 ~Y:, - - _ _ _ ' , ' • , ' fi'...~1 LU F:. . _ _ , ~ ~a_. '.y Co. , . ~ 141.~~~_ ~ - ~ . ^ - ~~`r_~:~. ~ .•.RU 5 t~ ,~U C i E.,C G U fi: i~Y. ~ FLORI~A ' • ' ' $D[~~I(~~3~ :,~~~~i,. - : . ~ ' ' - j ~