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HomeMy WebLinkAbout0627BORk ~9 PNGF~Cr! II'~'r 3. To place and continvovsly keep on tM iwitdi~>Rs now or horse oi~My iaic~.)~fsd ahd rs+~'tifi equipment and personally covmrd by this mortg- age, with sll premt•~ss tf,aroon psid in lull, fire Insurance in the u±wl starxlard pJiicy form, In a wm approved by the MORTGAGEE, end windstorm insurance In the wval stmdud policy form, In • svm spproved by tM MORTGAGEE, In wch company or companies a the MORTGAGEE may dirttt; and- all firs and windsrorm Inaurance .polldes ors any of said _bulldirsgs, any interest therein or put thereof, In the aggregate svm aforesaid or In excess thereof, shall contain the usual standard mortgagee claws or such other clause ss the Mortgsgee may require, maklry the loss under said poli- cies, each a~~d ~vtry, payable to old MORTGAGtE a fin In»rest may appear, and each end evrry such policy shall ba promptly us;gned and dahvered to any held by sitd MORTGAGEE as furthir security to said mortgage debt, and, not lase than Nn (i0) days In advarxs cf the expiration of oath policy, to do- liver to said MORTG.~GEE a rarawal thereof, together with a receipt fo- the premiv,n of such renews(; and chars shall be no lira or windstorm insurance pieced on any of said bui!dirsg s, any lntenst th~nin or part thereof, unleu in the form and with the loss payable as aforessld; and In the event any wm of money becomes payable under such policy or policliti said MORTvAGEE shall have the option tc receive end apply the same on sccount of the indebted- nacs secured hereby or to permit said MORTGP GORS t0 reeeiva and use It a any put cheroot for other purposes, without thereby waiving or i~npaii- Ing any equity, lien or right under w by virtue of this mortgage; and !n the avant said MORTGAGORS shall for any reason fall to keep the said premises so insured, or fail t~ deliver promptly any of said policies of Insurance to said MORTGAGEE, or foil promptly to psy fully any premium therefor or in any respect fall to pttfErm, dischugs, execute, effect, complete, comply with and abide by this covenam, or any part hereof, raid MORTGAGEE may place aid pay for tuch insurance or any pati tMreof without wsiving or affecting a:,y, Option, lien, equity, or tight under oc by virtue of this Mortgage, and the full amount of each and every such payment shell be immediately due erxf payable and shall bear Interest from the date thereof until paid at the rote of nine per centum per annum and together with such interest shall be secured by the lien of this mortgage. 1. To permit, commit or suffer .w wsste, impairment w deterioration of said property or any Fart. thereof. S. To pay all and singular the costs, chargaa end expenses, Including a reasonable attorney's fee and costs of abstracts of title, incurred or paid a+ any time 6y said MORTGAGEE, badusa or i„ the event of the failure on the part of the ssid MORTGAGOR to duly, promptly end fully perform, discharge, execute, effect, cornolete, comply with and abide by each and every the stipulations, agreements, conditions, and Covensntn of sold promissory note and this mortgage any or either, end said costs, charges and expanses, each and every, shall be immediately due end paysble; whether or not there be novice de- mand, attempt to collect or suit pending; and the Full amount of each and every such payment shell bear interest from the dare thereof until paid at the rare of nine per centum per annum; and all acid costs, charges and expenses incurred or paid, to0ether with such Interact, shall be secured by the lien of this mortgage. 6. That (e) In the evens of any breach of this Mortgage or dofault on tM pert of the MORTGAGOR, or (b) in the event any of said sums of money herein referred to be not promptly and fully paid within thirty (30) days next after the same severally become due and payable, without demand or notice, or (c) in the event each and every the stipulations, agreement:, conditions end covenants of said promissory note and this mortgage any or either are not duly, promptly and fully performed, dischaiged, szecvtad, effected, complat'd, complied with and abided by, than in either a any such event the said ag- gregate sum rrttntlonad'(n said promiuory note then remaining unpaid, with intarsct accrued, and all moneys secured hereby, shall become due and pay able forthwith, or -thereafter, at the option of said MORTGAGEEt es fully and completely as if all of the said wms of money wen originally stipulated fo br paid on such d3Si. anything in said promiuory note or in this Mortgage to the contrary notwithstanding; and thereupon or thrrsatter at the option of said MORTGAGEE, without notice or demand, suit at law or in equity, therefore a thereafter begun, may be prwecuted es if all moneys secured hereby had matured prior to its inrtitvtion. 7. Thar in the event that at the beginning of or at any time ending any suit upon this Mortgage, or to foreclose it, or to reform it, or to enforce payment of any claims hereunder, said MORTGAGEE shall apply to the Court having jurisdiction thereof for the appointment of a Receiver, such Court shall forthwith appoint a receiver of said mortgaged property all and singular, inciud~ng ell 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 specifically set forth end described in the granting and habendvm clauses hereof, and such Receiver shalt have all the broad and effective functions and powers in anywise entrusted by a Court to a Receiver, and such appointment shall be made by such Court at an edmirtrd-equity and a matter of absolute right to said MORTGAGEE, and without reference to the adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of said MORTGAGOR or the defendants, and that such rents, profits, income, isaves and revenues shall be applied by such Receiver according to she t~-^ :r equity of said MORTGAGEE and the practice of such Court. 8. To duly, promptly and fully perform, discharge, execute• effect, complete, comply with and abide by oath and evrry the stipulations, agreements, conditions and covenants in said promissory note and this mortgage set forth. 4. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other then the MORTGAGOR, the MORTGAGEE, its successors and ensigns, may, without notice to the MORTGAOR, deal with such tuccess~r or successor in interest with reference ro this mortgage end the debt hereby secured in the same manner es with Mortgagor without in any way vitiating or discharging the Mortgagors' liability here- under or upon the debt hereby secured. No sale o1 the premises h.r.hy ~.ro.~.a ...a ..._. t^r~rtrar•.cc __ ...~ _.. _ - p.:, ~~ a.e %.:viiivi+vcc or in successors or ensigns and no extension of the time for the paymc~r of the debt hereby secured given by the MORTGAGEE or its successors er assigns, shall operate to release, dscharge, modify change or effect the origi.rel liability of the MORTGAGOR herein, either in whole or in part. 10. It is specifically agreed that lime is of the essence of this contract and that no waiver of any obligation hereunder or of the obligation sq- cvred hereby shall et any time thereafter be held to be a waiver of the terms hereof or of the instrument secured herby. „tstlYt ~~ 11. In oddities to the forego[ng monthly payments of print pal and interest required by the promissory note secured hereby, mpS[ ~ kOv/a(rants and agrees to pay to mortgagee with each monthly payment an additional sum estimated by mortgagee to be equal to 1/12 of the ennutP •~vyp.~llo`w- ing: ~~ r • .`~ •'~•' A-r^,II real grope.=ty tar;as fevie3 or as;esteu against t?,e aLuve described reel relate. ~~ .ir ~: ~i ~'- B-Premiums on fire and windstorm inwrance as herein required to be carried on the improvements siwate on the above ~~jp{ p~'fnises. ~~ '~_ C-Premiums on such mortgage guaranty insurance es mortgagee shall from +irne to time deem fit to carry on the loan iet1W" Fifre~iyEi (; r+tortgagee shall From time to time notify mortgagor in writing of the amount due and payable tereunder and such sum shaFt therjltpfir~ be due a~st~ ~~ payable on the due date of the next monthly payment and each successive month thereafter until mortgagee shall notify mortgagor ~ i•c)ferq;R firt(,iLcf~• a•r,ount. Such sums shall be applied by mortgagee toward the payment of teal property taxes, insurance premiums, and mortga~fs ~,f afy;ty inyurapc~ premiums. , / i• V WITNESS W F, the said MORTGAGOR has'hereunto set his hand and seal :he day and year first afor said. D• Aa~~~~r>>~ I~C a, _ igned, ~I 'end live In t s presence of: -• b ~- ~Yrj`e.sidant ~ (Seel) _ 8.tt8st + (Seal) . _ s Secret rv (seal) . (Seal) STATE OF FLORIDA COUNTY OF ST. IUCIE I HEREBY CERTIFY, That on this ~•2 '~~ day of _ tlovember _, A.D. 19__~~, before me personally appeared =Fred ?. AdarTS _ ar,d J. jJ. 7iCl;son respectively President and ~ - Secretary , of ~. A . D. ir.c . a Florida Corporation, to me known to be the persons described in and who executed the foregoing instrument, and severally acknowledged the axe ct~?;~~: fttareOf,;,~,b~rtheir free act and deed as such officers for the uses and purposes therein mentioned; and that they affixed ,1PiQt~ltb'.trJ4 bffiCigl •seal of said corporation, and the said instrument is the act and deed of said corporation. WITN~nS~~t~yr~~tb•~nd•pfflygl seal at Fort Pierce -- said coon d state. f`1 a J ~ r'r . ~ ~` _ _ _ n n s _ ~~ ~~ ~~_ ~'-a~~ Not y Pu lie, in and for State and Cot.nty aforesaid. ~^'• `1v~„ •\.' A D ECO ~ Cory ission~xpires:.4.o.B~ __ ?aC, ./ y~r ;~;, `• .. Its ~ ~~'L._..~.~._plt~~ .r„~ . „~~ ", -- (961 NOV i 3 pM 11: l 0 -- ~ - ~;~ ~~'' ~ ' Q ER POIT.tAS, CLERK y j` ; ~4:\~~'tf-,' . ~ - ST~LIriCIE COUNTY, FLGRIOA = ~ ~7 ~ v r '.,.