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HomeMy WebLinkAbout1499l Air oa. R. - 51 r~c~135 S. To place and continuously keep col the bvlldin~ rsow cr F.er•after -itwte on •aid land end on all equipment and panonaay covered b/ this rnwtg• age, with ell tremiums thereon pa1J in full, fire :nsuranca in the uwal starch;d policy form, In a~wm approved by the MORTGAGEE, and windstorm. Inwrrncs .n tM usual standard policy form, in a wm apprs,ved by the MORTGAGEE, in such ;ompeny or co•npanias as the MORTGAGEE may direct; arsd all flea "end windstorm Insurarsta pali<'tea on any of said tvildirys, any intarast chorale or part thereof, in the aggregate wm aforesaid or in excess thereof, shall conrdn the uwsl standard nsortflaflee clause or such other dw-e a the Mortgagee may require, making the loss uruJer said polF- ciet, each and every, payable ro saki MORTGAGEE as its lntarest may appear, and each and every wch policy shall ba promptly assigned and delivered to any held by said MORTGAGEE as furtfur security ro laid mortflaye debt, end, not bu than ten (10) dtyx In cdvanca cf tf•.e expLation of esch policy, to de- liver to said MORTGAGE[ a renewal thereof, together with • receipt for the premium of such renewal; and share shaf4 ba no fire or windstorm Inwrance placed on any of sold buildinfls, sny Inter»t therein a part thereof, unless In tM form and will the lots payable as aforesaid; and In the oven! any sum of money becomes payable under such policy or policies said MORTGAGEE shall have the option to receive end apply the tame on account of the indebted- ness secured hereby or to permit said MORTGAGORS to receive and use it or any part thereof for other purposes, without thereby waiving or impair- ing any equity, lien or right under or by vlrtw of this mortpafleJ and In the event said MORTGAGORS shall for any reason fail to keep the said promises so insured, or foil to deliver promptly any of said policies of Insurance to said MORTGAGEE, or fail promptly to pay fully any premium therefor or in any respect fail to perform, discharge, execute, affect, complete, comply with and rbide by this covenant, or any part hereof, said MORTGAGEE may place end pay for such Insurance or any part thereof without walvirsfl a affecting sny, option. lien, equity, or right under or by virtue of this Il;ortgage, and the full amount of ea:h end every such payment shall be immediately due end payable end shall bear interest from the dote thereof until paid at the rate o1 nine oar centum per annum and together with such interest shsll be secured by the lien of this mor•gefle. 1. To permit, cdmmit a suffer no waste, impairment a deterioration of said property a any pert thereof. S. To pay alt and singular the costs, charges and expanses, including a reasonable attorney's fee and cost: of abstracts of title, incurred or paid at any time by ssid MORTGAGEE, because or in the evert of the failure on the part of the said MORTGAGOR to duly, promptly and fully perform, discharge, execute, effect, complete, comply with and abide by oath and every the stipulations, agreements, conditions, and covenants o} said p,ontissury note and this mortgage any w either, end said costs, charges end expenses, esch and every, shall ba' lmmedietely due and payable; whethaT o; not there be notice de mend, attempt to collect or suit pending; end the full amount of each end every such pey.nent shall bear {nearest from tiaQ data thereof until paid at the -r,P of nine per cenrum per annum; and all said costs, charges end expanses irxurred or paid, together with such interest, she!! ba secured by the lien of this murtflafls. 6. That (a) in the event of any breech of tstis Mortgage or default on ihs part of the MORTGAGOR, or (b) in the event ary of said sums of money herein referred to be not promptly end 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, agreements, conditions end covenants of said promissory note and this-mortgage any or either are not duly, promptly 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 told promissory note then remaining unpaid, with interest accrued, and all moneys secured hereby, shall become due and pay- able forthwith, a thereafter, at the option of said MORTGAGEE, es fully and complerr;ly as if all of the raid sums of money were originally stipulated to be paid on such day, anything in ssid promissory note or In this Mortgage 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 or thereafter begun, may be prosecuted es if all moneys secured hereby hsd matured peter to its institution. 7. That in the event that at the beginning of or et any lima pending 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 epNoint a receiver of said mortgaged property ell and singular, Including all and singular the income, profits, issues end revenues from wherever source derived, each and every of wfiich, it be?nfl expressly understood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof, and such Receiver shall have ell the brood and effective functions and powers in anywise entrusted 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 thrt value of the property mortgaged or to rho solvency or insolvency of said MORfGAGOR`or the defendants, and that such rents, profits, income, issues and revenues shall be applied by such Receiver according to the lien or equity of said MORTGAGEE and the practice of such Court. 8. To duly, promptly and fully perform, discharge, execute, affect, complete, comply with and abide by each and every the stipulations, agreements, conditions and covenants in said promissory note and this mortgage set forlh. 9. That in the event the ownership of the mortgaged prerc.ises, or any pert thereof, becomes vested in a person other then the MORTGAGOR, the MORTGAGEE, its successors and assigns, may, without notice to the MORTGAOR, deal with such successor or successor in interest with reference to this mortgage anei the debt hereby secured in the soma manner as with Mortgagor without in any way vitiating or discharging the Mortgagors' liability here- under or upon the debt hereby secured. No sale of the premis=s hereby mortgaged ;red no forbearance on the part of the MORTGAGEE or its successors or assigns end no ex ension of the time for the payment of the debt hereby secured given by the MORTGAGEE o- its successors or ass;yn:, shzll operate to release, discharge, modify change or affect the original liability of the /AORIC,AGOR herein, either in whole o+ in part. 10. It is specifically agreed that time is of the essence of this contract and that no waiver of any obligation hereunder or of the obligation sr cured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the instrument secured herby. 11. In addition to the foregoing monthly payments of print'pal and interest required by the prom~isory note secured hereby, mortgagor covenants and agrees .o pay to morlyayee with each monthly payment an additional sum estimated by mortgagee to be equal to 1 ~ t2 of the annual cost of the follow- ing: A-All real property taxes levied ur assessed against the above described real estate. B-Premiums 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 shall from time to time deem fit to :arty on the loan secured hereby. Mortgagee shall from time to time notify mortgagor in writing of the amount due and payable hereunder and such sum shall thereupon be due and payable on the due date of the next monthly payment and each successive month thereafter until mortgagee shall notify mortgagor of a change in such amount- Such Burns shall be applied by mortgagee toward the payment of teat property taxes, insurance prern~ums, and mortgage guaranty insurance premiums. IN WITNESS WHEPEOF, the said MORTGAGOR has hereunto set his hand and seal the day and year first aforesaia. n I and de' din the presence of: (Se a I I ~ (Seal) - (Seal) STATE OF FLORIDA SS. COUNTY OF ~'t T,11C iE'. Before me personally nppaared R 1 •T i'~OadO Jr • and T.i llip ~ TSHRrjES his wife, to me well known end known to me to be the individuals described In and who executed the foragoirtg instrument, and acknowledged before me that they executed :he tame for the purposes therein expressed. And tfe ssid_ Lily i_e ~. ?•18at:36 wife of the said Ri1P.,Y t~eadfs,. Jr. upon a separate end private examination by me taken separate and apart from her said husband, etknowledged to and before me that she executed said instrument freely and volvn• tartly and without any compulsion, constraint, apprehension, or fear of a from her said husbarvl. Lr~ WITNESS my hand and official seal this ~-g t day of D A. D. 19~it- Notary P lie in and for the Scats of Florida at Large hl~~ Commission expires: Return To: first Federal Savings b loan Of Fort Pierce. Fort Fierce, Florida Association~~ ~ ~~eJ Notary Pubt c, S'atc of Fbr:da at Large f,ty Commas on Exp ri s Paarch 1 1, 156S •" f TEED AND RECORDED Bonded by Amercan Surety Co. of N. Y, - .: ~ ~'~ ; ;' ' ~:~ .-.• Ih • • GOOK _- _ ~- - ,~ :, ~y~ 1962 DEC -3 ph I1: 56 ' ROGER, POITRAS. CCCRK ST. LUCIE COUNYY. FLORIDA O~~ ~~ • . ~ ``~ .,. i..' , i 'r~ ~Y - ~~' "'Li ~o,'• u~, ;. ,,,r ~ ~ ~,,` ` rr•,,,rr: ,,,,,V ' 2~'~•