HomeMy WebLinkAbout0637ao~lt 4~ ~A~~~7
3. To place and continuove!y keep on th• buildings new or Mreaftrr~ltutrti 5th 1hidM~~r~d brtrlTl'dljulpmsnt and personally covered by this mortg-
age, with all 'premiums thereon paid in full, fro Insurance In the usual standard poll~"~f'orm, In a sum tpproved by the MORTGAGEE, and windsorm
insurance in the usual ttanderd policy form, In • Cum approved by the N.ORiGAGEE, in such company or companies es :he h10RTGAGEE may
direct; and ell firs end windstorm Insurance pol{ries on any of told Ewildingt, any Interest therein or part thereof, in the aggregate Cum aforesaid or
in excess thereof, shall contain the usual ttanderd mrutgagea cl•usa or such other clause as the Mortgagee may requna, making the loan under said golf
ties, aech and awry, payabt• to bid MORTGAGEE as its Interest may appear, and aech end every such policy -~.ll bs promptly au.yTned acd delivered to
any held by raid MORTGAGEE at further security to said mortgage debt, and, not last than ten (10) days in advance of the expiration of each policy, to de-
liver to Laid MORTGAGEE a renewal thereof, together with a receipt far the premium of such renewal; and there shall b• no firs or •,vindstorm insurance
pieced on any of satd buildings, any Inters:t therein or part thorsof, un!ett in the form end with the lots payable as aforesaid; end 'n the event any Cum
of money becomes payable untler wch policy or policiai said MORTGAGEE shall have tM option to receive acd apply the same on account of the indebted-
ness secured hereby or to permit raid MORTGAGORS to recoiva and ufe it or trey pert thereof for ocher purposes, without th_rzby waiving or unprir•
ing any equity, lion or right under a by virtue of thin mortgage; and In the avant said MORTGAGORS shall for any reason fail to keep the raid premises so
insured, or fail fo deliver promptly any of said polices of Irsuree:u to raid MORTGAGEE, or.fail promptly to pay fully any premium therefor or in any
respect fr r to perfnrm, discharge, execute, affect, complete, comply with and abide by this covenant, or any part hereof, said MORTGAGEE may place and
pay for such Iruursitce or any part ihe;sof without waiving w affecting any option, lien, equity, or right under or by virtue of this Mo•tgaga, end the
full amount of each and avury such payment shall bs immediately due end payablt and shall bear Interest from the dote thereof until paid at the rate of
nine pet centum per encun and togsiher witF' such Interest shall be secured by the !tan of 1hh m6rtgsge.
<- To permit, commit or suffer no weate, Impairment w deterioration of raid property or any part thereof.
S. To pay all and singular the loth, charges and expenses, including a reasonable attorney's fee and costs of abstracts of title, Incurred or paid et
any time by said MORTGAGEE, because or In the event of the failure on the part of the said h10RTGAGOR tc duly, promptly end fully perform, discharge,
axecuta, effect, cxnp!ete, comply wi>h end abide by each anti every the stipulations, egrearncnts, conditions, tnd covenants of said promissory note and this
mortgage any or either, end said torn, charger end expenses, each and every, shall bs immediately due and payable; whether or nor there be notice de
mend, attempt to collect or suit pending; and the full amount of each and every such payment shall bear interest front the elate thereof unti: paid et the
rate of nine par contain per annum; and all said costs, charges and expenses incurred or grid, togt.ther with such interest, shall bs secured by :he lien of this
mortgage.
6. That (e) In the event of any breath of this Mortgage or default on the part of the MOR?GAGOR, or (b) in the event any of said sums of money
!Cocain referred to be tot promptly and fully paid within thirty (30) days next after the same severally become due and payable, without dernend or notice,
or (c) in the event each and ovary the ttipulat%ons, agreements, conditions and covenants of tail promissory note end this mortgage any or either ere not
iuly, promptly ano fully performed, discharged, executed, effected, completed, Complied with and abided by, then in either or any such event the said ag-
gregate Cum mentioned in raid promissory note then remaining unpaid, with interest accrued, end all mnneyt secured hereby, shell become due and pays
able forthwith, or tharaefter, at the option of raid MORTGAGEE, as fully end completely es if ell of the said sums of money were originally atipu:eted
to be paid on wch day, anything in said promissory note or In this Mortgage to the contrary notwithstanding; .red thereupon or thereafter et the option of
raid MORTGAGEE, without notice or demand, suit et law or in equity, therefore or tharaefter begun, may be prosecuted as if all ~roneyt secured hereby
had matured prior tc its institution.
7. That in the event !hat at the beginning of or at any time pending any suit upon this Mortgage, or to foreclose it, or to reform it, or to er,fore
payment of any claims hereunder, said MORTGAGEE shell apply to the Court having jurisdiction thereof for the appointment of a Receiver, such Court shall
forthwith appoint a receiver of tail mortgaged property all and tinguler, irtclud~ng all and singular the income, profits, issues and revenues from whatever
source derived, each ano every of which, it being expre»ly understood, is hereby mortgaged as if specifically set forth and described in the granting and
habendum clauses hereof, and such Receiver shall have all the broad and effa_tivs functions and powers in anywise entrusted by a Court to a Receiver, and
such ropointment shall be made by such Court as an admitted equity end a matter of absolute right to raid MORTGAGEE, and without reference to the
adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of tsid MORTGAGOR or the defendants, and that such
rents, profits, income, issues and revenues shall be applied by Caen Receiver according to the lien or equity of said MORTGAGEE and the practice of such
Court.
8. To duly, promptly and fully per-orm, discharge, execute, effect, compete, Comply with and abide by each and every the stipulations, agreements,
conditions end covenants in said promissory note and Chit mortgage let forth.
9. That in the Trent the ownership of the mortgaged premitas, or any pert thereof, becomes vested in a person other than the MORTGAGOR, the
MORTGAGEf, its wccessors and assigns, nay, without notice to iha MORTGAOR, deal with sash successor or successor in interest with reference to this
mortgage end the debt hereby secured in the same manner as with Mortgagor without in any way vitiating or discharging the Mortgagors' liability hero-
under or upon the debt hereby secured. No sale oT the prom!set hereby mortgaged and no forbearance on the pert of the MORTGAGEE or its successors
or etsigns and no er.tension of the time for the payment of the debt hereby secured given by the MORTGAGEE or its successors or ass~gns, shall operate
to release, di:c!:arge, modify chanya cr affect the original liability of the MORTGAGOR herein, either in whole or in part.
10. It is specifically agreed that time is of the essence of this contract end that no waiver of any obligation hereunder or of the obligation so-
cured hereby shell st any time thereafter be held to be a waiver of the terms hereof or of the instrument te<ured herby. •
I1. In addition to the foregoing monthly payments of print:gel end interest required by the promissory note secured hereby, mortgagor covenants
and agrees to Pay to mortgagee witl•. each monthly payment an additional sum estimated by mortgagee to be equal t 1 j 12 of the annual cost of the follow-
ing:
A-Ali roe! property taxes levied or assessed against the above described real estate.
B-P~=miums on fire and windstorm insurance as herein required to be carried on the improvements situate on the above described premises.
C-Premiums on such mortgage guaranty insurance as mortgagee thali from rim! to time deem f:t to tarry on the loon secured hereby.
Mortgagee shall from time to time notify mortgagor in writing of the amount dare end payable hereunder and such Cum shall thereupon be due and
payable on the due date of the nez; monthly payment and each successive month thereafter until mortgagee shall notify mortgagor of a change in such
amount. Such sums shall be applied by mortgagee toward Ilre payment of real property taxes, insurance premiums, and mortgage guaranty insurance
premiums-
IN YlITNESS Y~HEREOF, the said MORTGAGOR F.a{ hereunto set hit hand and teal the day and year first aforesaid.
~6 gn d, sled and del aced in the presence of: ~,~ llQ ~ ~ ~ ,~ n
R' / ~/~~ (Sea[;
' (Seal)
__ _(Seai)
STATE OF FEORIDA
55.
COUNtt OF Sri . LUC ~8
Before me personally appeared l+: +t P e .+'va»a7 to ai p~lg., &f~il~t atrad
_ It>®1Ke, to wj-'ell known and knovrn to me to be
the Individuals described In and who executed the foregoing Instrument, end tcknowledped before me drat tjr~~xecuted the same for site purposes
therein expressed. Aat~ s~ -
-:+"~-
._ ~
WI1NE55 my hand end official seal this. ~a -day of ~CDYSC.as~-G~t~ A. D. 19 l~.
Notary Publ In and for the Stets of Florida et Large
My Commistion expires:
Return To; ' , ~ s_-- - '
First : ederal Sevin s t1 loan Association ~~. !
b ~ Notary Public, Stale of Flor:d3 at Large ' 4•a~;
Of for. Pierce. ~~.'V~rSdJ ~y Commas:oneExp;res t.!arch )) )9b6 ,?, •-~t,,s~ /~
-1 °LJ J s ° ~ ~,.
r on~ed b' t~.m clean S rci; mot' „~ s ~:
fort Pierce, Florida U r:~~. ~` N. Y. ~:
F A RECORDED ~ - ~ ~ `..
,;t. ~,. '.:;:. ICJ tc!a~~7 . ~~ .;,J '~ _ :,
- :..+ y. "c ~~~.' ~. ~; 1961 A'OY ! 3 Ali I I : I I ` ~ ~ ::' ......••~;~~
,,,,.
ter' - ~ ,ROi~ER POITRAS CLARK
:~ . _ aT, IUCIE COUNTI' FLORID
..
~, ~,.. Q
~ --