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HomeMy WebLinkAbout0950BORIK 5O i~Af~E ~ ~~ 9. To Face :^d cc-:t? c; ~•s?y kc.;: c:i flea he;l'd:r,;: ~ .: `e*aatta+ titua!a_on said land and On all equiF•rent and ~aricnatly covered by this mcrrg- age, with all ~emiums thereon paid in full, fire faro;ants k'jt:'K~f~4~ s ~``is f~~m, in a sum aF•provad by the MURTGAGEE, s~•d windstorm Insurer,ca In the uswl standard policy form, In i sum approved by t5+t~~AGE~`fn' such comosny or companies as tM MORTGAGEE r,ay d~reU; end all lira and windstorm insurance policies on any of -a;d twildinya, any IMer•st t)wrain or part thereof, ins the aggrega!e wm afcxetsid or In excess thar~of; sM`I Corbin tM usual standard mortgagee dauss or such other clause es tM Mortgages mey raquha, making tM lose ruder said poli- ces, aech and ovary, psysbls In seed MORTGAGEE as Ih Inbres! may appear, and each and every such policy shall bt promptly ass'.gnad and delivered to any he'd by ssid MORTGAGEE as further security to said martgaga debt, and, not Isss than tan (10) days in adwrre of tM oxpiratio., of each polity, to.do- liver to aait~MURTGAGEE • renewal thereof, together with s receipt for the promium of-wch renewal; and IMra shall be no fire or windstorm Inwranu placed on any of said bvildirsgs, eny intaast therein or part thereof, unless In tM Fxm and with tM ! ss payable as eforauid; and ?n tM evem eny sum of money becomes payable under such policy or policies said MORTGAGEE shall hove iha option•to receive and apply tM same sin account of tSe ind•bted- r.ess secured Mraby or to permit said MORTGAGORS to rocelw and uw It w any part thereof for other purposes, without thereby waiving er unpev- fng eny equity, lion or right under or by virtue of this mortgage; and In the avant wid MORTGAGORS shall for any reason fall to keep tM said premises so insured, or fail to deliver promptly any of seed polities of insurance to said MORTGAGEE, or fail promptly to pay fully any premium therefor or in any respect fail to perform, dhcharge, execute, effete, complete, comply wi,h and abide by this covenant. ar any pert hmeoF, said MORTGAGEE may place end pay for wch insursncs or any part thereof without waiving or affactirp any option, Ilan, equity, or right under or by virtue of this Mcvtgegs, end the full amount of aech and every tvch payment sMll ba immediately dos and payable end shall bear interes~ from the dote thereof until paid at the rats of nine per centum per annum and together wTh wuh Interest shall be -ecvred by The lion of this mortgage. - 1. To permit, commit or wffer no waste, impairmam or de:erioratian ui said property or any part thereoF.' , 5. To pay all and singular tF.e costs, charges •nd expenses, Including a rnssonable attorney's fee and costs of abstracts of title, Incurred or paid at any time by said MORTGA SEE, because a In the avant of iha failure on the pert of iha raid MORTGA•;sOR to duly, promptly and fully perforn., discharge, execute, effect, complete, comply with and abide by e+ch and ovary tM atipulstions, agreements, conditions, end covenants of said prn:nissory note end this mongage any or eithr., and said costs, charges end exwnses, ~+ch and every, shall ba immediate!y due and peyabls; whether or act there be notice do- mend, attempt to collect or wit pending; and tM full amount of aech end wary wch payment shall bear ?merest From iha data thereof until paid at the r,~ra of nine per cenr;m per annum; and all said costs, charges and expanses incurred or paid, togatMr with wch inbrsat, shall bt secured by iha Tien of this martgags. 6. That (a) h the went of any breach of thin Mutgags or defeUtt on rho part of tM MORTGAGOR, or (b) In iha avant any of said wms of money herein referred to be not promptly and fully paid within thirty (30) days next after iha same severally become due and payable, arithovl demand or notice, or (c) in she avant each sn.' every iha stipulations, agreements, conditions and ~ovsnanh of std promissory note and this mortgage any or either are not >?uly, promptly and fully performed, discharged, executed, effected, completed, compiled with and abided by, then in either or any wch want tM said ag• gregate sum memioned in said promissory note than remaining unpaid, with interest scuued, and all morssys Mcvrad hereby, shall baconc dw and pay- able forthwith, o• thereeftar, et the option of said MORTGP.GEE~as fully and completely es if all of iha said sums of money vrera originally stipulated ro be paid on such day, anything In said promissory rota a !n this Morfgsga to the contrary notwilhstendirtg; and thereupon or thereeftar et iha option of said MORTGAGEE, without notice or demand, suit at law or In equi.y, therefore or thereeftar begun, mey be prosecuted as if all moneys secured Mraby had matured prior to its institution. ~ 7. That in iha event that at the beglnning of or at any lima pendiry any wit upon this Martgaga, or to faedosa it, or to reform it, or to enforce payment of any claims hereunder, said MORTGAGEE shell apply to iha Court having jurisdiction thereof for iha eppointmen! df a Receiver, such Court shall Forthwith appoint a receiver of said mortgaged property all and singular, induct:ng.ell and singular the income, profits, issues end revenuer from whatever source derived, each and every of which, it being expressly understood, is hereby mortgaged es if specifically sat forth and described in tM granting and habendvm clauses hereof, and such Receiver shall have all iha broad and effactiva functions and powers In anywise entrusted by a Court to s Receiver, and such appointment shall be made by such Court et sn admitted equity end a matter _Qf absolute right to ssid MORTGAGEE, and without reference to the adequacy a inadequacy of th,e value of the property mortgaged or to tM wtvency or insotvsrtcy of said h10RTGAG(~R or iha defondams, uid that such rears, profits, income, Issues and revenues shall be applied by such Receiver according To tM lien or equity of said MORTGAGEE and the practice of such Court. 8. To duly, promptly a..d fully perform, discharge, execute, affect, complete, comply with and abide by aech and every tM sliovlatlon:, agreements, conditions and covenems in said promissory rsote and that mortgage sat froth. 9. That in the event the ownership of tM mortgaged pramisos, a any part thereof, bec~ vested in a person other than tM M.ORTGAGOR, the MORTGAGEE, its wcceaors sod assigns, may, without notice to the MORTGAOR, deal with wch successor or successor in interest with referents to this mortgage and tM debt he•eby secured in the same manner as with Ahertgsgor without In any way vitiating or discharging rM Mortgagori liability hero- under or upon the debt hereby secured. fJo sole of the premises Mrebv rnorigaged end no forbearance on iha part of the MORTGAGEE or its successors or assigns end no extension of the time for tM payment of the debt hereby secured given by tM MORTGAGEE or its successors or assigns, shall t.perate to release, discharge, modify change or affect iha original Iisbility.oF the MORTGAGOR herein, either in whole or In part. 1C- It is specifically agreed that time is of the essence of this contract and that no waiver of any obligation hereunder or of Iha obligation so- cared Mraby shall at any time thereafter be held to ba s waiver of tM tarnu hereof or of tM instrument secured herby. i 1. in addition to the foregoing monthly payments of princ'psl and interest required by the prom<ssory note secured hereby, mortgagor covenants and agrees to pay to mortgagee with each monthly payment an additional sum estimated by mortgagee to be equal to 1/12 of the annual cost c! the folio«- 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 ba•corried on the in,provaments situate on tf:e above described premises. _ C-Premiums on such mortgage guaranty inswanca as mortgagee shall from time to time deem fit to carry on the loan secured hereby. Mortgagee shall from tine to time notify mortgago- in writing of the amount sue and payable hereunder and such sum shell thereupon be due and payable on the due date of the next monthly payment and each sucussiva mont:i thereafter until mortgagee shall notify mortgagor of a change in such amount. Such sums shall be applied by mortgagee toward the payment of real property taxes, Insurance premiums, and mortgage guaranty insurance premiums. 1 WITNE55 WHEREOF, th id MORTGAGOR has hereunto set his hand and seal the day and ar rat aforesaid. fined, Sealed/end loaf presents oft ~ ~ h Sesi) _ Sean ___ (seal STATE OF FLORIDA St. Lucie ~ (soon couNTY of Ceail Austin and Before me panora!ly appeend Lorraine G. Austin his wife, to ma well known end known to me to >>e the individuals described in and who •xecvtad tfsa foregoing InclrumMt, r,d acknowledged bales me that th.y executed the same for the purposes Lorraine d Austin therein expressed. And tM aai eQ u8 n upon . teptrate and private wife of tM sold exeminerion by me taken wparate end apart from her said hvabarsd, acknowledged to and before ma tMt ant executod seed inatrumont freely and volurs• eerily and without any computslon, constrafnr, apprahensi Her of oe from her said hvsbartsl. ~ 2~ovf~mber +, ' o Tv 62 , . . ~' _ da of WITNESS my hand and offitiai oral this_.at_-- Y p •~"~ 4 ' • ' `~ ` +*••• ~/ yri, ~ ~ z Notary Public in and for tf- State of Ftorlda at U:ga C ~ My Commission axp!rn:~ ~ /~ `~ _ sTifi~s-ATo: ~'~~ ~ ~ / ~ ~~ ~~~~ ~ ~ i~IF+gr; O Loon Assxlation - -fj~st.~sa~rr1` S . . -Fl.xi~a -' Fort rhierca c , __ ~ ~~~ ~q "\ J ~ •~ its ~ ~tl~ti~ _. .•.. r - f ... ~ ~ ~ ~ y. 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