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HomeMy WebLinkAbout0770~. ~: 50 F~1cf '7 90r~K 3. To plate and continuously kelp an the buildings row or hera-fter situate on said land end on all equipment and personally covered by this mortg- 6ge, with all premiums lhereot paid in full, lira insursnce In the usual at-ndaru polcy form, in a wm tpproved by the MORTGAGEE, end windstorm insurance In the usual standard policy form, In a sum spprovsd by the hARTGAGFE, In such company or compenits at the i.10RTGAGEE may direct; and ell firs and windstorm insurance policies on say of said bulld~ngs, any Interest therein or part thereof, In the aggregate sum aforesaid or in excess thereof, shell contain the usual standard mortgagee clause cr such other clouts as the Mortgapa~ may require, making the less under said po~i- cies, each and every, rayable to said MORTGAGEE as ih Interest may epees', and each and every such polity shall be promptly ass.gned and delivered to any held by said MORTGAGEE as further security to talcr mortgage debt, and, not lean than ten (10) days In advance o' the expiration of each policy, to d-- liver to Bald MORTGAGEE a renewal theuof, together with a receipt for the premium of wch renewal; grid there shell be rso fire or windstorm inwrance placed on any of said bvi!dingt, any interest therein or pert thereof, unless in the form and with the toss payable es aforesaid; at~d (n tf.e event any sum of money becomes payable under wch po`.icy or policies said h10RTGA3EE shell hsve the option to receive end apply the same on account of the Indebted- ness secured hereby or to permit fald MORTGAGORS to receive and ust it or any part thereof for other purposes, witi,eut th_rebt .va~vhtg or urp~~r• ing any equity, lien or right under or by vlrt;;a of this mortgage; and In the event said MORTGAGORS atoll for any reason fail to keep thr said premises so insured, or fail to deliver promptly any of se?d policies of insurance to said MORTGAGEE, or fail promptly to pay fully any premium therefor or :~ any respect fail to perform, discharge, execute, offect, complete, comply with and abide by this covenant, or any part hereof, said MORTGAGEE may piaee a ,d pay for wch insuranu or any part thereof without waiving or affadirsg any option, lien, equity, or right under or by virtue of this Mortgage, ana rho full amount of each and every such payment shall be immediately due and payable and shall bear interest from the date thereof until paid at the rate of nine per ceitum per annum and together with such interest shall be secured by the lien of this mortgage. <. Tn permit, commit or suffer no waste, impairment or deterioration of said property or any pert thereof. 5. To pay ell and singular the costs, 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 MdRTGAGOR to duly, promptly end fully perform, discharge, execute, effect, complete, comply wrth and abide by each and every the stipulations, agreements, condi•ions, end covenants of said promissory note and this mortgage any pr either, and said coats, charges and expenses, each and every, shall ba immediately due and payable; whe!her or not there be notice d> mend, attempt to collect or suit pending; and the full amount of cacti and every such payment shall bear interest from the date thereof until paid at the rare of nine oar cen:um per annum; and ail said .oats, chsrges and expenses incurred or paid, together woh loch interest, shall be secured by the Gen of this mortgage. 6. That (a) in the event of any breach of thin Mortgage or default on 1Fse part of the~MORTGAGOR, or (b) in the event any of said sums of money herein referred to be not promptly and fully psid within thirty (30) days next after the same severalty become due and payable, without demand or notice, or (:) In .he event each end every the stipulations, agreements, conditions end covenants of laid promissory note end this mortgage any or either are not July, promptly and fully performed, discharged, executed, affected, conlplated, complied with end abided by, then in either or any such e•+ent the said ag- gregate sum mentionc~l in said promiasay note then remaining unpaid, with interest accrued, and all moneys secured hereby, shall become due and pay able forthwith, or thereafter, at the option of said MORTGAGEE, es fully end completely as if all of the said sums of money were griginally stipulated to be paid on such day, anything In said promissory note or In this Mortgsge to the contrary notwithstanding; end thereupon or thereafter at the option of said MORTGAGEE, without notice or demand, suit et law or in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby had maturtd error to its institution. 7. That in the event that at the beginning of or at any time pending any suit upon this Mortgage, or to foreclose it, or to reform it, or to enforce payment of any claims hereunder, said AORTGAGEE 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, incfud~ng all and singular the income, profits, issues and revenues from whatever source derived, each and every of which, it being uxpressly understood, is hereby mortgayed as if specifically set forth and described in the granting and habendum clauses hereof, and such Receiver shall have all the broad end effective functions and powers in anywise enVUSted by a Court to a Receiver, and such appointment shall be made by such Court as an admitted 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, issues and revenues shell be applied by such Receiver according is :he lien or equity of said A10RTGAGEE and the practice o: such Court. 6- To duly, promptly and fully perform, discharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, conditions and covenants in said promissory note env! this mortgage set forth. 9. That in the event the ownership of the mortgaged premises, or any parr thereof, becomes vested in a person other than the MORTGAGOR, the MORTGAGEE, its successors and assigns, may, without notice to the h10RTGAOR, deal with such successor or successor in interest with reference to this mortgage and the debt hereby secured in the same manner as with Mortgagor without in any way vitiating or dncharg~ng the Mortgagors' liability here under or upon the debt hereby secured. No sale of the premises hereby mortgaged end no forbearance on the part of the fhORTGPGEE or its successors or assigns and no extension of the time for the payment of the debt hereby secured given by the MORTGAGEE or its successors or assigns, shall operate to release, discharge, modify change or affect the original liability of the MORTGAGOR herein, either in whole or in part. 10. It is specifically agreed thrt 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 vraiver of the terms hereof or of the instrument secured herby. 11. In cdd;tion to the foregoing monthly payments of princ pal ar,d interest required by the pro:n;ssory note secured hereby, mortgagor covenants and agrees to pay to mortgagee with oath monthly payment an additional cum estimated by mortgagee to be equal to 1 j 12 of the annual cost of the follow- ing: A--A'I real property taxes levied or assessed against the above described real estate. B-Premiums on fire and windstorm insvrar.ce as herein required to be carried on the improvements situate on thu above described premises. C-Prrniums on such mortgage guaranty insurance as mortgagee shall from time to lime dxm fit to tarry on the loan secured hereby. Alortgagae shall from time to time notify mortgagor in writing of the amount due and payable hereunder and such sum shall thereupon be due and poyab:e on the due date of the next monthly payment and each successive month thereafter until mortgagee shall notify mortgagor of a change in such a~-'count. Such sums shall be applied by mortgagee toward the payment r;f real property taxes, inwrance preen,urns, and mortgage guaranty inwrance premiums. -- IN 1:'ITNESS \VHEREOF, the said ~.IORTGAGOR has 'hereunto set his hand and seal the day and year first aforesaid. S'g~ d, al an delivered the presence of: X s /~ (SeaIJ _~ _ r ~ ~J' ~ I (Seal) ~' - _ (Seal) (Sea I) STATE OF FLORIDA COUi~TY OF St. T,lTCie SS. before me personally appeared I/ OT'T'B $ t .'i . SO11~~ - - and Annie i'Ig~ ~ctllar his wife, to me well known and known to me to be the individuals described in and who executed the foregoing instrument, end acknowledged before n.e that they executed the same for the purposes therein expressed. And the said AnniEj 'tats, ~i011 ar _ - wife of the said ~orreat tit Sollar _ -, upon a separate end private examination by me taken separate and apart from her said husband, acknowledged to and before me that she executed said instrument freely and vol~n- tarily and without ery compulsion, constraint, apprehension, of leer of w from her Bald husband. J~/ITNESS my hand and official seal this ~-~ day of NOVeTri'Oe^ A. D. 19 ~2 Notary Public in end for the State of Florida et Large My Comm~stion expires: Return Tc: Fret Federal Savings 6 loan Association Of Fort Pierce. l hp',2r; 't.~ ''. `, ; '' C` i .Or'',? ~,! Llrs;c Fort Pierce, Florida ~a.~~a39~ Y Gomrni5s'on Cxp res A".arch 11, 1906 ~Qnded by Arnencan Surety Co. of W. Y. ,~ F! ~Q AN RECORDED • 1~' ~~tl~ial Recorr~ ~~ aor;K ~!' . ~' ~,' ~ 1961 NOV 15 PM 3: 06 • - - , -• - ~ :'~~' ROGER POITRASr CIERK . ` : • ~ ~ ST. LUC ~U.i FIORID~ ~ ~ ~ ~ ,,~ ,,t:.,. •;` ~, ~ ~1, ~ ... 'r • J •t ~ , . ~i . ~.l (; ~.t " ,~ . r .. • r'~:.~'