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HomeMy WebLinkAbout1543 ~oR~ 5~. r~.cE1.7~ 3. To place end continuously kelp on tM bulydlrgs now er hareaher sitv;.ts on said land end on all equipment and personally covered by this mwtq• age, with •11 premiums thereon paid ir. full, firs tnsuranu in tfsa uwrJ standard policy form, In a wm approved by the MORTGAGEE, and windstorm insurance In the usual standard policy form, In a sum approved by the MORTGAGEE, in wch company or componles p tM MORTGAGEE may dkaU; end all fir- •nd windstorm tnsuranc• policlea on any of said buildings, any inta:ast tPseroin or pert thecae}, In the aggngat• sum aforesaid or in excess thereof, shall wntain the usual standard mortgagee dauw or such other douse a the Mortgagee may rer;ui», ma~inq the loss under said poli- cies, each and every, payable ro told MORTGAGEE sa its intorost may appear; end each and every such policy shall be promptly aaa;gned and delivered to any held by said MORTGAGEE as further security to said mortgage debt, and, not leas than ten (10) days In advents of the expirat?on of each polity, to de- liver to said MORTGAGEE a renewal thereof, together with a receipt for the premium of such renewal; end theta shall be no fire or vrindstorm Insurance placed on any of raid buildings, any interest therein or part thereof, unless in the form and with the loss payable as aforesaid; end in Ihn event any wm of money becomes payable under such policy or policies acid MORTGAGEE shall have the option to receive end apply the same on accouni of the indebted- ness secured hereby OI to permit raid MORTGAGORS to rsceiv and use it ar any part thereof for other purposes, without thereby waiving or impair- ing any rquihy, lien w right txsder or by virtue of this mortgage; and In the event said MORTGAGORS shell for any reeton fail to keep the Bald premises so Insured, or fall 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 fall to perform, discharge, execute, effect, complete, comply with and abide by Chit covenant, or any part hereof, said MORTGAGEE may place and pay for such intursnce or any part thereof without waiving w affecting any option, lien, equity, or right under or by virtue of this Mortgaga, and the full amount of each and every such payment shall be immediately due and payable and ahali bear interest from the date thereof until paid at the rote of nine per centvm per annum and together with such interest shall be secured by the lien of ti,is mortgage, ~. To permit, commit or suffer no waste, impairment or deterioration of aeid property or any part thereof. 5. To pay ell end linguist the costs, charges and expenses, including a reasonable alto:ney'a fee ar.d cosh of •bstreda of title, incurred or paid at any time by said MORTGAGEE, because or in the event 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 each and every the stipulations, agreements, conditions, and covenants of aeid promissory note and this mortgage any or either, and aeid coats, charges and expenses, each and every, shall be i,nmediately due end peyabla; whether or not there be notice dr mend, attempt to collect or suit pending; and the full amount of each enG every such payment shall bear interest from the date thereof until paid at the rate of nine per centum per annum; and ail said costa, charges and expenses incurred or paid, together with such intorost, shall be secured by the lien of this nscrtgsge. 6. That (a) in the event of any breath of this Mortgage or default on the part of the MORTGAGOR, or (b) in the event any of said sums of money herein referred to be not promptly and fully paid within thirty (30) days next offer the same sevr•rclly became due and payable, without demand or notice, or (c) in the event each and every the stipulations, agreements, conditiont and covenants of Laid promissory note and this mortgage any or either are not duly, promptly and fully performed, discharged, executed, effected, completed, complied with and abided Sy, then in either or any such event the said eg gregate gum mentioned in said promissory note then remaining unpaid, with interest accrued, end all moneys accrred hereby, -hall become due and•pay able forthwith, or thereafter, at the option of said MORTGAGEE, as fully and completely as if all of the said sums of mo~t-y were originally stipulated to be paid on such day, anything in said promissory note or in this Mortgaga 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 as if act moneys secured hereby f.ad matured pnw to its institution. ~ 7. That in the event that at the Beginning of or et 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 MORTGAGEE shall apply to the Court having jurisdiction thereof for the eopointment of a Receiver, such Court shall forthwith appoint a receiver of said mortgaged property all and singular, Including ell end singular the income, profits, issues and revenues from whatever source derived, each end every of which, tt being expressly undo.stood, is hereby mortgaged as if specifically set forth end described in the granting and habandum clausal hereof, and such Receiver shall have all the broad and effective func'ions end powers in anywise entrusted by a Court to a Receiver, and such appointment ahail be mode 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 valve of the property mortgaged or to the solvency or insolvency of aeid MORTGAGOR or th; defendants, and chat such rents, profits, income, issues and revenues shall ba applied by such Receiver according to the lien or equity of said MORTGAGEE and the practice of +uch Court. 8. To duly, promptly and fully perform, discharge; execute, effect, complete, comply with end abide by each end every the stipulations, agreements, conditions and covenants in said promissory note and this mortgage set 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 MORTGAGEE, its successors and assigns, may, without notice to the MORTGAOR, deal with such successor or successor in interest with reference to this mortgage end the debt hereby aeturad in the same manner es with trlorrgago: without in any way vitiating or discharging the MortgnS •rs' liability here- under or upon the debt hereby tecured. 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 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 and that no waiver of end obligation hereunder or of the obligation see cured hereby shall at any time thereafter tx hold to be s waiver of the terms hereof or of the instrument secured herby. 11. In addition to the foregoing monthly payments of princoal and interest required by the promissory note secured hereby, mortgagor covenants and agrees to pay to mortgagee with each monthly payment an additional Burn estimated by mortgagee to be equal to l; 1: of the annual cost of the follow- ing: A-Ali 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 at mortgagee shall f-om time to time deem fit to carry on the loan secured hereby. Mortgagee shall from time :o time notify mortgagor in writing of the amount due and payable hereunder and such sum sf,all 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. $uch sums shall be applied by mortgagee toward the payment of real property taxes, insurance premiums, end mortgage guaranty insurance premLms. N \'lITNESS WHEREOF, the said .410RTGAGOR has hereunto set his hand and seal the day and yea f' ;t of id igned Seal d delivered in the presence of: ) ~ s t / + 1 L(/ (Se a I) C ~ -(Seal) STATE OF FLORIDA 1 couNTr of _ St. Lucie (( ~' Before me personally appeared ''j i 11 ie rr ib S Ori and _ queen Fgter Gibson hh wife, to me well known and known to me to be the fndrviduels described in and who executed the foregoing instrument, and acknowledged before me that they executed the s. me for the purposes therein exNreasad. And the said niT@en 4 eI' ('ribsOn wife Of the said '•~ j ~ l ie Gibson -~- upa^ a separate and private examination by ma taken separ:,te end apart from her said husband, acknowledged- to and before mo that the executed said instrument freely and voiun• racily end without any compulsion, constraint, eppre`sen on, or fear of or frown her said husband. WITNESS my hand and official seal this ~ r~ day of '~EC ~ /Y7 ~ s A. D. 19 `a' L-- W Notary Public in and for the State of Florida et large My Commission expires: Return To: fiat federal $tIJ,'`~~'rk"lgjn Association ~s fbr~delc `' Ii State of fiofida at l.erM -• ~-~ 'C flit Y =y• ~~ f, f ;s, i'U~~ ~~' r',:; -- Ngtar; Pub c, /~ fey Commt;~ion Expires Rpril 24, f196 ~ •~~'tl~~'~aRded by gmer,ca~ Surety CO._Q- FlLED AND RECDRDEQ '`o~c'T `.`~ - 19610EC -3 Phi 3: u8 SRO UCIE COUNTY frIGRIGA ,~ ,, a >o s; Gam'`. ~ ~~ „ . • _ _,,, . ,~ -~:. ,~ ~ ~~