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HomeMy WebLinkAbout0621a~~k ~~9 ~ct~~21' 7. To pi:ce end contlrtuously keep on the buildings now or harasf~jrTrtltvs~i_q~ slkig~`rsd~iQl~l(equlpment and panonaliy covered by this morrg• age, with all premiums thereon paid in full, firs Insurance in the usual -tendard policy form, in s win approved by the MORTGAGEE, end windstorm inwrante it the uwal standard policy form, is a sum approved by 1M MORTGAGEE, In wch .Company or canpanies a the MORTGAGEE may direct; and all fire and windstorm Inturancs po!iciet ors any of raid buildings, any interest therein or part thereof, In the aggregate sum eforetaid or In excess thereof, (hall contain tfse usual ttendard mortgagge Cldvte or wch other clauu as the Mortgagee may squire, making the loss r,nder se:d polo vies, each and every, payable to said MORTGAGEE as its Interest may appear, and each and every su.h policy shall ba promptly ass fined and delivered to any held by raid MORTGAGEE at Further security to said mortgage debt, end, not lest then ten (10) days In edvanea of the expiration of each policy, to de- liver to said MORTGAGEE • renewal thereof, together with a receipt for the premium of wch renewJ; end thero shall be no fire or windstorm insurance placed on any of raid butldingt, any Interest therein a part thereof, unrest In 1M form end with the lost payable as aforesaid; end in the event any aL~m of money becomes payable under such policy or f+olic)es raid MORTGAGEE shall 'nave the option to receive end apply the some on account of the inde5red- ness secwed hereby or to permit to id MORTGAGORS fo receive and u-e it or any part thereof for other purpc sae, w:rhout th ~rehr waiving or r~npav- Iny any equity, lisp or right under a by virtuawf thit•mortzage; and in the event said MORTGAGORS shall for any reason fail to keep the said oremites so insured, or fait to deliver promptly any of raid pol:ciai of Insurance to raid MORTGAGEE, or (ail promptly to pay fully any premium thereto: or in any respect fail to perform, discharge, execute, affect, complete, comply with end abide by that covenant, or any part hereof, said MORTGAGEE may place ono pay fu such Inturancs or any part tMreof without waiving w affecting any, option, lien, equity, or right under or by virtue of this Mortgage, end the full amount of each and every such payment shall be immediately due and payable and shall beer interest from the dote t:tereoF until paid at the rate of nine per centum per annum and together with wch interest ihall be fecund by the lion of this mortgage. 4. To permtb commit or suffer no waste, impairment a deterioration of raid property a any port thereof. _ ___ _ 5. To pay all and singular the coats, charger end expemes, including a reasonable attorney's fee end costs of abstrac» of title, Incurred or paid at any time by raid h10RTGAGEE, because or in the event of the failure on the part of the raid MORTGAGOR to duly, promptly and fully perform, discharge. execute, effect, complete, comply with and abide by each and every the stipuletiont, e0reements, conditions, end covenants of said promissory note and this mortgage any or either, and said cosh, charges and expen-as, each •nd ovary, shall bs immediately due and payable; whether or not there be native dr mend, attempt to collect or suit pending; end the full amount of each and ovary sue!; payment shall boar interest Irom the dote thereof until paid at the rate of nine per centum per annum; and all said costs, charger and expenses irxvrrad or grid, together with tuck Interest, shall be secured by the lien of this mot tg gig e. b. That (a) in the event of'eny breach of this Mortgage or default on rtes part of the MORTGAGOR, or (b) in the event any of said sums of money herein referred to ba not promptly end fully paid within thirty (30) days next after the same severally become due end stayal•le, without demand or n-trice, or (c) in the went each and every the ~tipvletions, agreements, conditions and covenants of said promissory note and this mortgage any or either are not duly, p:emplly and fully performed, discharged, executed, effected, completed, complied with and abided by, then in either or any such event the said ag- gregate sum mentioned in raid promissory note then remaining unpaid, with intcrast accrued, and all moneys secured hereby, shall become due and pay able forthwith, or thereafter, at the option of said MORTGAGEE, as fully seed completely at i( all of the said sums of money were originally stipulated to be paid on such day, anything in said promissory note or In this hiorfgage to the contrary notwithstanding; and thereupon or thereafter at the option of said MORTGAGEE, without notice or demand, suit at law or in equity, therefore a thereafter begun, may be prosecuted es if all moneys secured hereby had matured prior to its institution. 7. That fn the event char et the beginning of or et any time pending any suit upon this Mo•tgege, or to foreclose it, or to reform it, or to enforce payment of any claims hereunder, raid MORTGAGEE shall apply to the Covr: having jurisdiction thereof for the appointment of a Receiver, suth Court shall forthwith appoint a receiver o`• said mortgaged property ell gird singular, including all and singular the income, profits, issues and revenues from whatever source derived, each and every of which, it being expressly understood, is hereby mortgaged as if rpeci(ically set forth and described in the graining and habendum clauses hereof, and such Receiver shall have all the broad and efrective functions and powers in enywi;e ent•utted by s Cour! to a Receiver, and such appointment shall be made by such Court as an admitted equity and a matter of absolute right to raid MORTGAGEE, end without reference to the adequacy or inadequacy of the value of the property mortgaged or to the solvency cr insolvent • of said MORTGAGOR or the defendants, anal that such rents, profits, inccma, issues end revenues shall be applied by such Receiver according to the i 'n or equity of raid MORTGAGEE and the practice of such Court. 8. To duly, promptly and fully perform, discharge, execute, effect, complete, comply with end abide by each and every the stipulations; agreements, conditions and covenants in raid promissory note and Chia mortgage set forth. 9. That in the event the ownership of the mortgaged premiszs, or any part thereof, becomes vested in a person other than the MORTGAGOR, the MORTGAGEE, its successors and assigns, may, without notice to the MORTGAOR, deal wish such successor or successor in interest with reference to this mortgage end the debt hereby secured in the same mangier as with /Aongagcr without in any way vitiating or discharging the Marrgagon' liability here- under or upan the debt hereby secvr_d. No sale of the premises hereby martgaged and no forbearance on the part of the MORTGAGEE or its successors or assigns end no extension of the time for the payment of the debt hereby secured given by the MORTGAGEE o, its successors or ensigns, shall operate to release, discharge, modify change or effect the original liability of the MORTGAGOk herein, either in whose or in part. 10. It is spetificelly agreed that time is of the essence of this contract and that no waiver of any obligation hereunder or of the obligation se- cured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the instrument secured herby. i i. In addaien to the foregoing monthly payments of orint~pal and interest required by the promissorr note secured hereby, mortgagor covenants and agrees to pay to mortgagee with each monthly payment an additional Burn estimated by morrg :gee to be equal to 1/12 of the annual cost of the follow- ing: A-All real property taxes levied or assessed against the above described real estate. B-Premiums on fire and windstorm insurance as herein required to be carried on the improvements srtwte on rho abave desuibed premises. C-Premiums or. wen.mortgage guaranty insurance as mortgagee shall from time to lima deem fit to carry on the loan secured hereby. Aortgagee shall From lima to time notify mortgagor in writing of the amount due and payablo hereunder and such sure shad thereupon be due and payable on the due date of the next monthly payment end each successive month thereafter until mortgagee shall notify mortgagor of a change in su_h an•cunt. Such wins shall be applied by mortgagee toward the payment of real property taxes, insurance premiums, and mortgage guaranty insurance pre:~riums. IN WITNESS WHEREOF, the said 1.10RTGAGOR has'hcreunto set his hand and sea! the day an ~ar first afor t ~ "l Sign Sealed end deliv d In t presence of: F~~ (Seal) ~ (Seal) - ~ _____ (Seel) STATE OF FLORIDA SS. couNTY of ~t~ T, ir_> .1 P ' Before me personally apposed NxZe1 ~ • Sin~.tr=f a WiC~Cnr ~~~~~.?r__ ~ _ isl~itlity to yell known rind kMownrfd;ife~fo.be the indiridvals d-ascribed in end who executed the foregoing instrument, and acknowledged before me that .~ executed the ums -fd!'t11p+{idfpofss .ry t therein expressed. drtsit~isl r` +, reset _ -~ -- - ~- e WITNESS my hand and official teal Return To: ' Fire Federal Sevfngs S [oan Association Of ton Pierce. Fort Pierce, Florida •1 f ~ ~r 'J is ~~ •r< t ~r;,' , rr. ,. - - _ r , -«-- ~- ~~ ~ day of A- L 19~ Notary Public in and for the Stets of Florida'at llt~ - ,. My Commission expir~lary r.u` ~,2 0. ,= ~r.da dt Ldt'gEl ,. , t - - My Comm ss on ~x,; res ~~ov. 3, irn,5 - Ponded by American Surety C9. Gf N. Y, IN £1 QED ~KD R£DURD _ D , 1962 N0~ ~ 3 ~'~Oll~ Ra~ER PO1T A-~ 11: ~ p ~T+ lUClt COUNRA f~OR pA ~a~ - Ci .,. ~ . ~..