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HomeMy WebLinkAbout1501Q.R. ~ ~ ~~ 7 ~Q~K J~. f!~f 3. To place and contirssrrwsly keep cn the bulldinpf nose rr hscPafttr situate on Bald land and on ill equipment and personally cov- ad by this mortg- age, with all premiums tharoon pe?d in full, fir: insu,ance in the wwl standard polity form, In a sum approved by the MORTGAGEE; and windstorm lnwrsnce In the trawl standard policy form, in a fun approved by the MORTGAGEE, In such company or companies of the MORTGAGEE may direct; and all fin and windstorm insuranp pot}ales on any of said buildirstt, any Interest Therein or part tharaof, in 1Fs aggregate sum aforesaid or In excess thereof, shall contain the v:uel strndsrd mortgsgee clause a such other clause a tM Mortgages may require, making the loss under said poli- ties, each and every, payable to said MORTGAGEE as its interest may appear, and each aril we+y such policy shall be promptly safsned and delivered to liverhrodssid MORTGAGEE aEEenewslthhereof,rrtogether (with agreceipt for tnhe premivmtofnsuch re0 swat' and dthaneshall hbeerwifuec rowendsto~mli incurs d e plated on any of uid but{dings, any intens- 1Mnin or part thaaof, unless in the form and with the lou payable as aforesaid; and in the eves any wm of money becomes payable under Guth policy or policies said MORTGAGEE shall have the option to receive and apply the same on account of the indebted- nest fetured hereby or to permit said MORTGAGORS to receive and vae it or any Dart thereof for other purposes, without thereby waiving or in,pmr- ing any equity, lien or right ursder or by virtue of this mortgagor and in the event ssid MORTGAGORS fFall for any reason fall to keep the said premises so insured, or fail to deliver promptly any of said polities of insurance to sa}d MORTGAGEE, or fail promptly to pay fully any premium therefor or in any respell fell De perform, diuhargs, execute, effect, compieh, comply with and abide by thh covenant, or any part hereof, said MORTGAGEE may place e~~d pay for such inwranw or any pert t4eraof without walvirsp or affecting any. option, {Tan, equity, or right under or by virtue of this Mortgage, and the full amount of each and every such payment thail ba immediately due and payable and shall bear interest from the data thereof anti! paid at the rate of nine per canrs•^ par snnum and together with such intrroat shall ba secured by the lien of this mortgage. 4. To permit, comma or wffer ra waste, Impairment or degrioration of said property or any pert thereof. 5. To pay all and singular the coats, charges and s-ponces, including a reasonable attorney's tae and costs of abstracts of title, incurred or paid at any tin N: by said MORTGAGEE, because W in the event of the failure on the pert of the said MORTGAGOR to duly, promptly and fully perform, discharge, execute, effect, complete, comply with and abide by each end every the stipulations, agreements, condition, and covenants of said promissory note end this mortgage any or either, and said costs, charges and ezpenaea, each and ovary, shall be immediately due and payable; whether or not there be notice de- mand, attempt to collect or suit pending; and the full amount of each end every such payment shall bear interest from the dare thereof until paid ar the r„rz of nine per centum per snnum; and all said costs, charges and expenses incurred or paid, together with such interact, shall be secu`d by the lien of this mortgage. 6. That (s) in the avant of any breach of this Mortgage or default on tfse part of the MORTGAGOR, or (b) in the event any of said sums of money herein •efarred to be not promptly and fully paid within thirty (30) deyf next after the lama severally become due and payable, without demand or notice, or (c) in the event each end every the stipulations, agreements, conditions and covenants of acid promissory note and this mortgage any or either era not duly, promptly end fully perfwmad, discharged, executed, effected, completed, complied with end abided by, then in either or any such avant the said ag- gregate sum mentioned in Bald promissory note then remaining unpaid, with interact accrued, and ell moneys secured hereby, shall become due end pay able forthwith, or thereafter, at the option of Paid MORTGAGEE, as fully and completely as if eel of the said sums of money were originally stipulated to be paid on such day, anything in said promissory noto or in this Mortgage to the contrary notwithstanding; and thereupon or thereafter at the option of sai,s MORTGAGEE, without notice or demand, suit at law or in equity, therefore or thereaher begun, may be prosecuted as if all moneys secured hereby had matured pnw to its institution. 7. That in the event that at the beginning of or at any lima pending any suit upon this Mortgage, or to foreclose it, or to reform ir, or to enforce peyment•o4 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 fingulsr, including all 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 and describ:-d in the granting and habandum clauses hereof, and such Receiver shall have all the broad and efitctive functions and powers in anywise entrusted by a Court to a Receiver, and such appointment shall be made by fuck Court as an admitted equity end a matter of absolute right to said MORTGAGEE, end 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, issuef end revenues (hall be applied by such Receive: according to the lien or 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 each and ovary the stipulations, agreements, conditions end covenants in :aid promissory note end this mortgage fat forth. 9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the h10RTGAGEE, its successes and assigns, may, without notice to the MORTGAOR, deal with such successor or fvccessor in interest with reference to thin mortgage end the debt hereby socured in the same 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 premises hereby mortgaged and no forbearance on the part of the MORTGAGEE 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 effect the original liability of the MORTGAGOR herein, either in whole or in part. 10. It is specifically sgreed that time is of the etsenca of this contract and that no waiver of any obligation hereunder or of fha obligation se- cured hereby shall st any lima thereafter be held to be a waiver of the terms Itereoi or of the instrument secured herby. 11. In addition to the foregoing monthly payments of grins pal and interest required by the prcmasory note secured hereby, mortgagor covenants and agrees to pay to mortgagee with each monthly payment an additional sum estimated by mortgagee to be equo; 'o lj"12 of the annual cost of the follow- 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 be carried on the improvements situate on the above described premises. C-Premiums on such mortgage guaranty insurance of mortgagee shall from time to time deem {it to ca•ry on the loan secured hereby. R',ortgagee shad from time to time notify mortgagor in writing of the amount due ar.d payable hereunder and such sum shall thereupon be due and payable on the due date of the next monthly payment and each succeasivs month thereafter until mortgagee shall notify mortgagor of a change in such au,ount. Such sums shall be applied by mortgagee toward the payment of real property taxes, insurance premwms, and mort3age guaranty inwrance premiums. ~ ' 14 WITNE:,S WHEREOF, the said MORTGAGOR has hereunto set his hand end Peal the day and year first afcreseid. i ell and dal' red in the presence of: (Seal) ` P (Seal) (Seal) (Seal) STAT"c OF fCORIDA SS. COUNTY OF S t . Luc i e Before me personally appeared Le s t9r A Sheffield _ and Margaret Ha Sheffield _ his wife, to me wall known and known to me to be the individuals desuibed in snd who executed tho foregoing instrument, and acknowledged before ma that they executed the same for the purposes therein expressed. And the said Margaret N. Sheffield _ wife of the Paid T~ s t e r A . Shief f i old upon a separate end privtre examination by me taken teparete and apart from her said husband, acknowledged t~ and before me that the executed said instrument freely end volun- tarily and wi~hout any compulsion, constraint, apprehension, or fear of or from her Bald husband. WITNFaS my hand and official stet this 18t -day of veCBlTlber _ A. D. 19 62 O !~_.~ Notary Public inland for the State of Florida at large My Ccmmifston expires Return To: Firer Federal Saving: 6 loan Aasocl ation Notary PUbIiC, State of Florida at Large Of Fort Pierce. P ~ ` ' ~~ llOa~3 My Commas!on Exp res March 11, 1966 s B rpez Florida •fs it ; ` . .,,,. rr„cur ~ onded by Antcric?n Surf=f Co. of Y H: Yr ~' ~~ ~"`~~ ;~,,~~~~ ~ "~,~~'~~~ ND RECORDED BLED A :: o , ... w , ,, . = v , ~ '-'o~ , ~~ ; ~ N • • BOOK :~ •,y'~.~.,~:i'o~, ... ~ 1962 DEC°3 A~11:56 ~ ~ ~~r~9::,;~t~~'; ~~ _ . ER PQITRAS CiERK '•;r ~`~~'; >•,` ", - ' • ' d,~ iUCIE C4UN1`(, FLORICA ST . ,,, .fir: ~~', ~• , ~ L~v . ,. 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