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HomeMy WebLinkAbout2760~~RK 5~ FA6E 696 3. To place and continuously keep on the buildings now or hereafter ritvete on said lend and on all equipment .nd personally covered by this mortg- age, with e!I premiums thereon paid in full, firs ~asurance in the uwel ttarsderd policy form, in a wm approved Ly the MORTGAGEE, end windstorm insurance in the usual standard policy form, in a tvm approved by the MORTGAGEE, In such company or companies et the MORTGAGEE n,ay dire-c r; end ell fire end windstorm insurance policies on any of raid buildings, any Interest therein or pert thereof, in the aggregate sum aforesaid or in excess thereof, shall contain the usual standard mortgagee clause or such other clause as the Mortgagee may require, making the loss under raid poli- cies, each and every, payable to said A50RTGAGEE at its interest may appear, and each and every tech policy shall be promptly ett:gned and dzli•rored to any held by said MORTGAGEE as further security to said mortgage debt, and, not lets thsn ten (10) deyt in advance of the expiration of each policy, to de- liver ro said A50RTGAGEE a renewal thereof, together with a receipt for the promium of tech renewal; and there shall be rw fire. or winduorm insurancz placed on any of said buildings, any interest therein or pert iherenf, unless in the form and with the loss payable at aforesaid; and In the event any sum of money becomes payable under tuck policy or policies raid MORTGAGEE shall have the option to receive and apply the tame on account of the indebted- ness secured hereby or to permit said MORTGAGORS to receive sad use it or any part thereof fem. Nher ',c; pGazs, without thereby was.-ing or imp,ir- ing any equity, lien or right under or by virtue of chit mortgage; end in the event said A10RTGAGORS .hell for any reason fail to keep the raid premises so insured, or fail to deliver promptly any of raid policies of insurance to :rid MORTGAGEE, or fail promptly to pay fully any premium therefor or in any respect fail to perform, discharge, execute, effect, complete, comply with and abide by this covenant, or any part hereof, raid MORTGAGEE may place a~Td pay for such insurance or any part thereof without •.vaiving or affecting any option, lien, equity, or right under or by virtue of this hlortgage, end the full amou^r of each t _ve•y such payment shall be immediately due and payable and shall bear interest from the date thereof until paid at the rate of nine per icntum per an •_m and together with such interest shall be secured by the lien of this mortgage. d. To permit, commit w suffer no waste, impairment or deterioration of said property Sr •r, part inereof. 5. To pay all and aingular the costs, charger and expenses, including a reasonable attorney's tee and costs of abstrach of title, incurred or paid •t any Tim • by said A10RTGAGEE, because or in the event of the failure on the parr of the said MORTGAGOR to duly, promptly and fully perform, discharg4, execute, elfea, complete, comply with and abide by each and every the ttipulations, agreements, conditions, and covenants of said promissory note sad this mortgage any or either, and said costs, charges and expenses, each end every, shall be immediately due and payable; whether or not there be notkz dr mend, attempt to collect or tuft pending; and the full amount of each and every such paymero shell bear interest from the date thereof until paid at the r,•tr of nine per centu~n per annum; and all said cost:, charges and expenses incurred Or paid, together with such interest, shall be secured by the lien of this mortgage. 6. That (a) in the event of any breach of chit 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) dart 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 and covenants of said promissory note end this mortgage any or either are not fury, promptly and fully performed, d.scharged, executed, effected, completed, complied with and abided 5y, then in either or any such event the said ag gregate •um mentioned in raid promissory note then r*mti^ing unpaid, with interest accrued, and all moneys cecured hereby, shall become due and pay- aL:e forthwith, or thereafter, at the option of said MORTGAGEE, as fully and completely as if ell of the said sums of money were or;ginally stipulated to be paid on such day, anything in said promissory note or in this Mortgage to the contrary noiwithttanding; and thereupon or thereafter at the option of said A10RTGAGEE, without notice or demand, suit at law or in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby had matured prior to Its institution. 7. that in the event that at the beg~nnin~ of or at any time pending any suit upon this Mortgage, cr to foreclose it, or to reform it, or to enforce payment of any claims hereunder, said A10RTG.4GEE shall apply to thz Court having jurisdiction thereof for the appointment of a Receiver, such Court shall Forthwith appo~nf a receiver of said mortgaged property all end singular, including all and singular rite income, profits, issues and revenues from whatever source derived, each and every of which, it Laing expressly understood, is hereby mortgaged as if tpec~fically Set forth and described in the granting and habendum clauses hereof, and such Receiver shall have all the broad and effective functions and powers in anywise entrusted by a Court to a Receiver, and tech 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 the value of the property mortgaged or to the solvency or insolvency of said MORTGAGOR or the defendants, and that such rents, profits, income, tunes and revenues shall be applied by such Receiver eccordmg 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 every the stipulations, agreements, conditions and covenants in said promissory note and this mortgage set forth. 9. That in th.e event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the A10RTGAGEE, its successors and assigns, may, without notice to the IAORTGAOR, deal with such successor or tvccessor in interest with reference to Chit mortgage and the debt hereby secured 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 parr 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, shalt operate ro release, discharge, modify change or affect the original liability of the MJRTGAGOR herein, either in whole or in part. 10. tt 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 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 promissory note secured hereby, mortgagor covenants and agrees to pay to mortgagee with each montftly payment an additional sum estilnared by mortgagee to be equal to 112 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 lire and windstorm insurance as herein required to be carried on the improvements situate on ihz above described premises. ~"L--Pre:nivrns on such rr,orlgage guaranty insurance as mortgagee shall from time to Kme deem fit to carry on the loan secured hereby. R.ortgag:e shall frcm time to time notify mortgagor in writing of the amour:: due and payable hereunder and such sum shall ?hereupon 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 sung sha'I be applied by mortgagee toward the payment of real property taxes, insurance premiums, and mortgage guaranty insurance tTr£n11Um5. IN VJITfJESS WHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and year first aforesaid. igned, ale and deli r in the presence of: r '" --*. alb ~~_ - (Seal) (Seal) STATE OF FLORIDA r' ~ i .I 1(` . O SS. COUNTY OF ~ delete me personally appeared 1' P CiI1C i 8 )E' f1 t 1 E'~T -- and _; e t t i e L . D eA t 1 e~* , his wife, to me well known acd known to me to be the individuals described in and who executed tM foregoing instrument, sad ecknowledfled before me that they executed the same for the purposes therein expressed. And the said f+ e t t ~ e T~ . P6A tl f3?j wife of the :aid ='rtlneis C. '~eAt? ey open a separate and private examination by me taken separate and apart from her said husband, acknowledged to end before me that she executed said instrument freely end volun- tarily and without any tornpulsion, constraint, apprehension, or fear of or from her said husband. , WITNESS my hand and official reel the 2~ day of er' A. D. 19~ ~~-~ t5~~ Notary ubllc in end for the Stste of Florida at Largs :Ay Co minion expires: Return 10: First Federal Savings b loan Atsotiation Gf Fort Pierce. ~t'7 Notary Public, State Oi rlo~(dta ~Car6a My Commission EzQQices March ll,• 966 Fort Pierce, Florida o a~ REeoROEO Bonded !a'v AtaieriGdn Surety Co.'e~- Y. ~ .•6~?T a 7 f ~,,, ~ ~+a11~~Y `~, ~••. 600K ~ .~ . - .. ~~~~~~ ' ~ :-~~ - • i~z o~c 2s a~ is i s - rf: ~'7 -~~~~-~` '.'-~- ROGER POITRAS, CLERK i`j•..'.: --~.:va ~ YT. LUCIE COUNTY, FtORIOA ,: ~~~ ..H,~,, . fry - t t~ (~r.~• Y. :~ Erg ~~~~ ~,. -. ''~ ~~so~t- ,,~ '~'Jrhtllt lslttl~~~,`~ ~~~, r ~ - --- - - .