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HomeMy WebLinkAbout1964EQ'x 9. To piece and eontinuanly keep on tM boildirys now or Mreafter -itvate on Bald land end on all equipment and personally covered by thin mortg- age, wish all premiums thereon paid in full, firs Inwranca M tM usual starsdard policy form, in a sum •ppruved by the MORTGAGEE, and windstorm insurance in the uwel usndard policy form, in a -um approved by the MORTGAGEE, in such cc-~pany or eompanisa as tM MORTGAGEE r-.ey direU; and all fire and winda:arm inau~ance policies on any of seid buildirsgs, any INereat t}wrein or put tMraof, 1n the aggregate wm aforesaid or in axcrss thueof, shell contain tM uwsl -randard matgasca douse or such o!Mr davu as tFr~ Mortgages may require, making tM lost under aa,d poli- cies, each usd every, psyable to said MORTGAGEE is its interest may appear, and each and every such poi%cy shall be promptly asa.gned end del;varod to any held by seid MORTGAGEE as furtMr security to said rrwrigage dabs, and, not less than ten (101 days in advance o} tM expiration of such polcy, to do- liver to raid MORTGAGEE • renewal 1MreoF, together with • receipt for the premium of such renewal; and tMre sMil be no fi:e or windstorm insurance placed on any of said buildirsga, any Interest tMnin or part tMreof, unle» in tM form end with the loss payable as af~rsasid; and •in the event any ttim of money becomes payable under such policy or policies ssirf MORTGAGEE shall have tM option to receive end apply the tams on account of the indeb+ed- ness secured hereby or to permit said MORTGAGORS to rscalw and use It or any part thereof for other purposes, without thereby waiving c• i:,,p~ir- tng any equity, lien or right under or by virtue of this mortgage; end in the event seid MORTGAGORS shall fa any reason fail to keep the said premises so insured, or fail to deliver promptly any of said policies o! inar•rsnce to said MORTGAGEE, or fail promptly to psy fully sny premium therefor or in any respect fail to perform, discharge, execute, effect, complete, comply with end abide by this covenant, or any part hereof, said MORTGAGEE may pt--e and pey (or such insurance or sny part thereof without waivirs~ a affecting any option, lien, equity, or right under a by virtue o% this Mortgage, and tht full amount of each and every such payment shall bs immediately dw and payable and atoll bear interest from the dote thereoF until paid at the rate of nine per centum per annum and together with such interest shall be secured by tM Ilan Of ihi- rtrortgage. . 4. To permit, comma or suffer no waste, impairment or deterioration of seid property a sny port thereof. S. To psy eit err! singular the costs, charges and expenses, including a reasonable attorney's fee and costs of abstracts of cilia, incurred or paid at any time by said MORTGAGEE, because or in the event of the failure on the pan of the acid MORTGAGOR to ovly, promptly and fully perform, discharge, execute, rffrct, tompiete, comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and this mortgage any or either, and seid coats, charges and expenses, each and every, shell be immediately due end payable; whether or not there be ne:ice de mend, attempt to collect or suit pending; and the full amount of each and every such payment shall bear interest from tM data thereof until paid at the rate of nine per centum per annum; and ell Laid coats, charges and expenses incurred w pelt;, together with such interest, shell be secured by the lien of thin mOrtg ag e. 6. That (s) in the event of any breech of this Mortgage or default on tM part of the MORTGAGOR, or (b) in the event sny of said sums of money herein referred to be not promptly end folly paid within thirty 130) days next after the same severslly become due and payable, without demand or rwtice, or (c) in the event each and every the stipulations, agreements, conditions and covenants of said promissory note and th;s mortgage any or either are not fuly, promptly and fully performed, discharged, exrcuted; effected, completed, complied with and abided 5y, then in either or any such event the said ag- yregate avm mentioned in seid promissory note then remaining unpaid, with interest accrued, end all moneys secured herrby, -hell become due and pey able forthwith, or thereafter, at the option of said MORTGAGEE, as fully and completely es if ell of the said sums of money were originslly stipulated to be paid on such day, anything in said promissory Hots or in this Mortgage to the crntrary notwithstanding; and thereupon or thereafter at the oNtian of _ said MORTGAGEE, without notice or demand, suit at law or in equity, therefore a thereafter begun, may be prosecuted as if all moneys secured hereby had matured poor 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, o• 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 appoint a receiver of said mortgaged property alt and singular, including all and singular the income, profits, issues end revenues from whatever scarce derived, each and every of which, it being expressly understood, is hereby mortgaged as if apeciiicaliy set forth and descri}xd in the granting and i•abendum clauses hereof, and such Receiver shall hove al: the broad and effective functions end powers in anywise entrusted by a Court to n Receiver. ant• tact, appointment shall be made by such Court as an admitted equity and a matter of absolute right to said MORTGAGEE, and without reference to ~~ a adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of said MOF:GAGOR. or the defendants, and that suite rents, profits, income, issues and revenues :hall ba applied by such Receiver according to the lien or equity of said MORTGAGEE end 1M practice of such Court. - 8. To duly, promptly and fully perform, discharge, execute, effect, complete, comply witF( and abide by each and every 1M 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 parson other than the MORTGAGOR, the h10RTGAGEE, its successors and assigns, may, without notice to the MORTGAOR, deal with aucit successor or successor in interest with reference to this mortgage and the debt hereby secured in the :eme manner as with Mortgagor without in any way vitiating or diuharging the Mortgagors' liability hart under or ,,pc,:::.~ debt hereby ucured. No sale of the premises hereby mortgaged and no forbearance on the part of the MORTGAGEE or its wccessors or assigns and no extension of the time for the psymen: of the debt herrby secured given by the MORTGAGEE or its svccaasors a 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 any obligation hereunder or of the obligation se- cured hereby shall a! any time thereafter be held to be a waiver of the terms Mreof or of the instrument secured Mrby. 11. In addition to the foregoing monthly payments of print'pal and interest required by the promissory note secured hereby, mortgagor covenants and agrees to pay to mortgagee with each monthly payment an additional sum estirna:ed by mortgagee to be equal to 1/12 of the annual cost of the follow- i•rg. 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 or the above described premises. - C-Premiums on such mortgage guaranty insurance as mortgagee shall from tame to time deem fit to carry on the loan secured hereby. Mortgagee :hail from time to time notify mortgagor in writing of tM amount due end 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 ~f a change in such ~:,,punt. Such sums shall be applied by mortgagee toward the payment of real property taxes, insurance premiums, and mortgage guaranty insvranc~ premiums. IN WITNESS \YHEREOf, the said MORTGAGOR has hereunto set his hand and seal the day and year first efores ' - tg al end deli in the presence of: ~Q (~ (Seep r (Seal) - (Seal} STATE OF FLORIDA COl1NTY OF ~•_=~11C ~ A ~ Before me perwnally appeared }~.C~~CeT' PetP.rR021 end Vera ~. PAt@rSC)n his wife, to ma well known end known to me to he the in-jividuals desvibed In end who executed tM fwagoi•sg Inttrumsnt, and acknowledged before me that tMy executed the ume for tM purpous therein expressed. And tM said ~~,.~ YerA J. Peterson _ wife of the said E'dkor Peterson upon a separate and privds examination by mr taken separate and apart From tear said husband, acknowledged to and before ma that the exrcuted said instrument freely and volun- tarily and without any compulsion, constraint, epprehensisn. , or fear of of from Mr acid husband. L~'~s WITNESS my hand end official seal this 1-~ day of A. D. 19_S2.L Notary Pu is in and for tM State of Florida et.tar a '' •.. My Commitaias expires: •" • v; ~ i ;; ,~ > ,~ Return To: ' . ~ ~ .••~^"`••. r~ v '~ First Federal Sevin s b Loan Association ~, g `~~,.~+~; ••~ s -^ ~ \ !~~~c' ," g '~ qq ttiot.t y I-c, c, S•~'e of )!oriAa at Lar e ' ~~._._~._L~ Of Fort Pierce. Gty Co^:r,: ; o.; Esc:;.te; t.?arch ; 1, 1966' ~• ~l AND RECORDED"_.. ~ ~,,:. ~ ~ ~ a,~ .. ,~ Fort Pierce, Florida ~ ,.' b~ t.•n in `_~Ure'y ~n_ nr ~i. Y. ? ;I. S .~~`y~ _ C/ o s- it -~.~I Record ooolt :t ~ ~~~;~-=~..ly~ ~•- - ~ •,~ .••\•~~-;,;...;•`-. 1962 OTC I I PM 3: I i ~ . - , J:~r'~.:::.•• ~;> j ; j ~ .;~y `~.~"tl: ~'. '; C,~ ERK ~ /''rrrr,.`.:r;:: , v :~~,t: t.~i`r: :try) ROGCR POiTRAS .'err rr rl: UrNN.,.. . .. ST. LUCiE COUNTY, flORIOA