HomeMy WebLinkAbout2752 3. To pface a~,d continuousiy keep on the bui:d~ngx now or 1~e~rafter fitua!e on sa~d IaiSt~ end on al~ equ~pmem and pe.eonelly cova~ed by this morrg~
age, wlth all premiums rhereon pa!d ~n f~li, f~re ins~ronce in ihe us~al siande~d po'icy torm, in a s~m approved b~ ~hr MOR~v~GEE. and w~ndarorm
insuronce in the usual srandard poLcy form, in a sum approved by the MORTGAGEE, in :uch co r~pany o: tompanies as the ~ti10R'fGAGEE mey
direct; and al; fire and w~ndstorm insuronte po!~cies on eny of said b~,~~d~ngs, any inferest therein or parl thereof, in Ihe aggregate su~n aforesa~d or
In exceas thereof, fhal{ contain the usual standar~ mortgagee da~se or svth other tla~se as the A1lortgaqee may rey~.,:re, mal~ing ~ha toss under aa~d p~li-
cies, each and evecy, payable to said MOR7GAGEE as ~ts inrrresl may appear, end ea.h a~~d every s~r.h po .;y slea~l L,e pro~~~~t~y ass gn~~d a~~d de~ivered to
sny heid by sa;d MORfGAGEE as further security ro sa~d n:ortgage debt, and, not less than ten (10) days ci ad:ancz of ihe ex~~~~anon oi each pollcy, to da-
live~ to said MORTGAGF.E a renewal thereof, togrther with a rece~pt for rhe premivm of such rer,ewa!; a~~d there shell b: no f~re o~ wir~dste:m insuidnte
placed on any of sa~d b~ildings, any interest therein or part thereof, un!ess in the forrn and wi~h the !oss ~~ayab!e os aforesaid; a.^.d in rhe e+ent any s~m
of money Eecome~ aayaEle ~nder such policy or policies said h10RiGAGEE shall have the opt~on to rece~v~~ ard app:y tha sa~na on auo:~nt of the intirbt~d-
ness securad hereby or to permrt aa~d MOkTGAGORS to receive ar.d vse it oe any part rh.•:.ot icr orh~,: uur~•c:es, v;;ino„t ih u~ ~3 or ~'~~P,~~~-
ing a~iy equ ry, lien or right under o[ by vi:tue o4 Ihis mortgage; and in tha event sa~d MORTGAGORS shall (ur any reason ia~l to ~.•~ep the sa~d prerr.~ses so
insured, o~ fa~l to de!iver promptly any of said pol~cies uf insvrarue to sa~d MORTGAGEE, or t.,~! pr~mpt!y to pay fuily any p~e,i~!~•:r: therator or in any
resprc~ fail to perform, dischar~e, execute, effed, complrie, conply ~vith and a~~de by th~s ceve~ant, or any oart hereof, so~d MGRTv.>GEE rnay piace a•d
pay for such inaurance or any part thereof w~tho~t waiving or affecting any oprion, lien, equ~ty, or f1yI11 vndar or by vi!tue of th~s Mortgage, and the
fuli amourn o( ea[h and every wth paymznt shall be immediately due and psyable and shal~ brar interest from the data thcr~of until p.;~d at the rate oi
nfi:e per crnt~:n per annu~n a~~d to7rthar wiih such inlerest shail be s~'cured by Ihe Ilen Of ihis mortgage.
A, io permit, commit or sufFer no waste, impairment ot deteriorotion of said property ot ony part thareof.
5. To pay a~l nnd singular the c~st~, charges end expenses; includinfl a reasonable attorne; s fee and costs of absrracrs of ti!'e, incur~ed or pa~d at
am~ tima by v~d MORTGAGEE, becavse or in the eveM of the failure on the part of the scid Mi:~RTGAGQR to duiy, promp+ly and fuliy perfonn, d~scharge.
execvre, effect, comp~ete, comply w~th and ab,de by each and eve~y the stip~ia~~ons, agreen~ents, cund~r;ons, and covenanrs cf sa~d pro-n:ssory note and fh~s
mortgage any or e~thcr, ard sa.d costs, charges and expenses, each and every, shali be immed;ate:~ d_e and payab:e; whether or not thare br r.o~~ce d~
mand, atterr~pt ~o collect or suit pendng; and the full a~nount oF each and eve~y svch paym.,nt sh:!e r.a~ intrresi from the da!e thereof until paid at the
ratc o~ n~ne uer :ent~~n per annum; an.' all sa~d costs, charges and e,epenses icx~rred or paid, to~eth~r w~ih such interest, shall be secvred 'oy the !ien of thl~
mortgage.
6. That (a) in the ever.t of any breath of fhi~ Mortgage or defaulf on the part of tl~e ,~'.ORTG.IGOR, or ~b) in ihe event any of safd wms of money
here~n referred to be not promptly and f~liy pa~d w~thin th,rty (301 days next arrcr thc sa:,~e se.e~a!ty teco~ne d:;e snd payah!e, withoui dernand or not~cc,
or (i) in the even: each and every the stipu:at~ons, agreements, cond~tions and covenants of sa d promisscry note and th s mortgage any or either are not
~uly, pro~npNy and fully performed, d:scharged, exe:uted, effected, completed, compGed wi;h ar.d abideq Sy, then in either or any s~ch event the aaid eg
gregatz s~m menrioned in said promissory note then remaining ~npaid, with interest accrued, and a~l moneys sewreei he!eby, shail Uecome d~e and pay~
eb',e forthN~ith, cr !hereafter, at the op!~on of said ,tiIORTGAGEE, as fully and cornpletely as if ai! of ti~c sa~d s~ms ef n;or.ey ~ere or~ginelly st~pu~ated
to be pa:d on s~cN d;,y, anything in s~.d prom~ssory note or in this Mortgage to the <onrra~y m~t:.~thstandlno; and ihereupon er thereafter at the opt~on uf
snld M,OR~GAGEE, Ki1F10U1 not~ce or demand, s~it at law or in equity, theretore or thereai~er begun, may be prosecu.ed as ~f all mone~a sec~red herzby
nad mat~red pr~or to ~ts i,istit~tion.
7. That in the event that at tne beginning cf or at any time pending any suit upon th;s hle-tgage, er to foredese it, or to reform it, or to enforce
payment of any daims he~e~nder, said N10RTGAGGE shall apply to the Court having junsd,ct~~o:~~ thrreof for ihe zppo~ntment of a Receiver, s~ch Co~rt snai!
i~rrh~virh ap;:oin; a receiver of said morrgaged property all ar,d sing~ler, includ,ng all and sf~ a~lar ih.~ ir.ceme, prof~fs, +ssues ar.d rever,ues f~an wh~tewer
s~v~ce d•~r~ved, e~ch ar,J every of wh:ch, be~ng expressty unders~ood, ls hereby morrgaged as ~t speof~cai;y sat fo~~h and dascr,bzd in rhe granrin~ and
haberrdum cia~ses hereof, and svch Receiver shal{ have a~l fhe broad and effec~ive fur.ci,ons ar.d pu.vers ~n anyx~se enr.us+cd by a Court to a Rec~iver, a~,d
s. ch 3ppoin!ment shali bc made by s~ch Court as an admitted equiTy and a mdlter of absoiutr rlght ro sa{d MORTGAGEE, and withcut re(ererce to ihe
adc~~v;cy or inadequ3o~ of the val~e of the properry mortgaged or to ifie so~ver.cy or inso:v•~nty of sa~d MORiGAGOR a. the uefer~danrs, and rh;f such
re ~ts. profits, income, issues and revenues shalf be applied 'by such Receiver a:cord~ng ta the lier~ or rqvi~y of sa:d MORTGAGEE end the practice of such
Couri. +
5. To du!y, ;:rompr,y and fvl!y perfo+m, discharg~, exec~te, effect, complate, co~np!y v.:~l: a~~d ab~de by each ar~d every the st~pu•atiens, agree:r,ents,
co.^.dit;ens and covenants !n sa~d promissory no!e and this mortgage sar ferth.
9. That in t~e event the o,n-nersh~p of the mortgaged prem~ses, or any part the~eof, cc:c•nes vesred in a person orher than ihe A!ORTGAGOR, the
MOkTGA>E[, its successori ard assigns, may, without r.e!ice to the PP,ORTGA~R, deal .vi!h s~c6 svccessor or suc:e~sor in interest with ~eference !o th;s
mr~-tgage and rir d:bt hereby secured in the same manner as with A,lortga~or w~tho~t in ar.y ;,.,y vit:atinq or d~scha~g~ng the Mcrrgagors' IiabiGty here-
~nder or ~pon rne deb~ hervby sec~red. Nu sa;e of tM:e premises hereby mortgaged ard nc f,:rtearo~Ce en the part Gf tha :10R?G%+GEE or its su;cessors
cr a~s gns and no entersio~ of rhe tlme fcr the payn,ent of the debr h^reby sew~ed g~+en by t%,e ~V,02TGP.GEE er Its waesson or ass'gns, ~~ial! oFerate
to rz~ease, d.scharge, rrodify change or affect the orig~nal liau,iity ef the MORTGAGOR I,crc;n, eiti,rr in whole cr in pa~t.
1D. It is s~e:lfically a3reed that time is of the essence of this contract and tha! no v:ai:er of any ob!igat on heraunder or of the ob!igat;on s<-
cured hereby sha'',I at an; ti-,,e thereafter be he'd ro be a waiver of the terms 1~ereoi or oi the i:s}rvmem sec~red he'by.
11. In au:i rc^ ro the forego n7 month'y paymenh of prir:c pal ar.d interesr req~~r.:d 'o; ihe pro:n sscry no~e s_:~red herc•b~, mo~rqagor coven~nts
. ~c agr~es !e ra~ ro;,,srgag~e .+.~!h eacn :nonth:y pa~r~,ert an add~ricnal s~~~ rss!~.ated b; n.e.r;3~.;_ ro be eq~al to t i2 of t,.c ~n;ual cor of th^ foiiow-
1(1 J:
A--AII real r.ropcrt~ raxas !es,~~ or assess_d ag3~ s! fF,_ zt;ove dezcribed rea! estatc.
6- F,,.. rs nn '~re ar:d v.~cdstorm ~ncuract_ ~z ne~e~n requ:red to be carr~ed c~; ti~e , ~vem,e~+n s'vc!e en tF,e abo.e d_cr:b=d premises.
C-Pre~rJ~c,s en s~cn mortg.;g~ gvarsnt~ ~nsura~ ~e as mortgag>e shail f~o;r t'rne to tl-ne deern fit to carry on the Ican sec~red hereby.
r!~~,!qagee s~.,', f~o,•, ;•a to t~~-c nor.fy rt~cr~~agor :n v.r~ting of tr~ amc_~! d.,e .,nd E;~%a~'e he~eund~r a~id s~ch su r, st~..3l1 th~~reupcn be dvz a d
;ayai:'e en the ci~„~e c~t., ci tFe .ext mon;h:~ p~~a-.en! a~-~d e~cn su:cessive ~•.tii .,,_.eaft~• ~r.!ii ~norry3yoE sha'~i ner:ty n,o.•g,:3o~ of a cnang~ in s~:n
o.,nr. Su:i~ su ns s' a.i b•. ap~;'J~~~J by mortgag:°e to.~:ard the pa;n~er.t of reaiJ preperty taxes: ins.,;a,ce pre:-;~~-s: a~d n•:~rtgag.~ guaranty insurance
n~e;r.;, ms.
IV \'JITNESS Vr4ERcOF, the sa~d MORTGA^vOR has hereu~~a set his h3nd and seal ±h,e d,y and year first aforesa'd.
Si ned, ealed and~a!+vere rfie presence of: , ° ~
/j~ ,~f~
C~~ ~ ' ~{Seal)
` . a?~t/~ h-i_~~r (Sea;)
- ~ _ ~(Sea~)
- (Sea{}
STr,iE UF F;ORIDA ~
Saint Lucie ss.
COU'JTY OP I
8efore me personally appeared _ C~1'~e3 ph8r~__ _ _ and
_ __F--~+~iza~~ M. Pha~`Y' _ h~s w~fe, tc me we!i kno~xn and knoNn to me !c be
the inJividua!e described in and who executed the foregoing instrument, and acknowledg~d before me that they executed the same tor the purpeses
there+n expressed. And the sa~d_- E?~izabeth M• p~lAT'T'____ ___f
r::~e o( +h~ sa;d ~ C~ j'le 8 M• Pharr _ ucen a sePa~ate and priva}e
A.;r,~.'natlcn by n~e t3k,n separa!e and apart from h=r aa~d husband, acknowiedged to and ~,ef~re me ihat she exe.~ted said instrvn,ent freely ard volun-
ra-,~y ar:d x~~ho~r any compu!sion, cor~srraint, apprehens!cn~ fear of or from her said husband.
~'il~Nc55 rny hand and o~ficial seal th~s_ .'3 day of_-_7~14~ _ , A. D. 19__~5
~ - ~ ~
Notary Pvbfic ir and for the State of Fio~ida et Large
At,` $`~O~o~o My Cor~m~ssio~ exoires:
R2t~-n To: 1`I~~ 1'ti " ~'•O:~r, -
~
First Federal Savings 8 Loan Associotlor~~_. _~~~~HK B~~Y i n
0~(.BC~ U r.;
Of Fort P e•te. ~ SLrc:;y^. U O.' ~ i. ~r.
Fort P;•~•t~, F!orida ~
: ~ ~ '~S JUL I 3 PM 3 : i z , . . , .
- .ti. i _ g ~ ,r 3. r ; , , ,
' ~ ROGER F'OE i , ' , . .
. . Ras. CI.ERK
~ , . ; - ST. L,UCIE COVNTY . ~ -
- FI~ORIOA ~ ~ . ~
''J` tl R - ry , ~
g~r~~~~ f,~~7 ,
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