HomeMy WebLinkAbout0350 3. To pt~ Md aonlhM+ausly kMp on th~ bu;ldinq~ now u herNh~r sitwt~ on s~sd lae+d and on ~11 equipmMl ~~d pertw~~ily cov~?~d by titi~ mert~
•p~, wilh rll p~niwnr thN~on p~id in fvll, firo I~wsnce in tM uawl st~ndard po3icy form, i~ a sum approwd by N+~ MORTGAGEE, rnd wi^dttwm
M~w~~nt~ in 1h~ uswl ttanda~d polity iorm, in • aum ~pproved by the MORTGAGEE, in svch company w co~npani~t u tM MORTGAGEE m~y
df?~ct: wd aU flrvr u+d winel~~orm iraw~r+cr polic~ea w? any of ~aid buildie~q~. ~~y im~?nt tMr~in o~ pan therwf, in the ap9rpat~ w~m ~for~s+id a
In ~xaa IMnof, thdl aiM~ln the uswl ~t~ndud mwtgaq+a clwse ot such otMr dauu ~s the Monya9~e may rr~ui?~. makinq tM bu vntMr s~ud polM
ciN, o~cA and ~vKy, payabh tp ~id MOR7GAGEE as ib intercst m~y ~pps+r, and e~ch and ~very auch policy shd! b~ prom~tly ass:yned ~nd d~liv~red to
,~ny hdd by wid MOR?GIAGfE at funMrr s~curity to wid mortqage debt. ~nd, not I~u than ten (10) days in advanc~ of tM •xpirotror~ of ~~ch policy, ro dr
~lhw Ip qid MQRTGAGEE ~ nnrwal tFKrWf, top~thK with a rxeipt fo~ Mis pnmium of such ~snewal; and tMr~ ~hall bt no fir~ or winditam inaurarx~
placyd p? rnr of sald bufldinps, ~ny l~taat ths~~in w p~rt thareof, unlea i~ the form and wi4h the loss pay+ble a~ •forssaid; snd in the ~vant any sum
ef moe+~r bKpMS payaba vnd~r wch pclicp p policia~ s~id MORiGAGEE shall hwe tM option to rateive and ~pply the same on sccoum of tlw indabted-
Mu w~~~~d h~r~by a 10 pKmit ~aid 1MORTGAGbRS to racaive +nd us~ N o? •ny pert thereof tor other purpese~, without thareb~ waivinq or ~mpair-
inp ~nr ~quity, li~n w right u~d~r w by virtw of this mortya9s; and in th~ ~vent a~id MORTGAGORS shall for any rta~ fail ~o keep the ~aid ptemiset so
haurrd, or f~il to dfliver promptly any of said politiw of inturance to said MC~RIGAGEE, w fsil promptly to psy fully any p.emium rherefw or in eny
rpp~ct f~fl to pKfor~,.distharpr, ~x~cut~, ~ff~d, canpl~te, comply with u~d abide by this covenant, or any parl hereof, said MOR?GAGEE may plate ?nd
P+Y «+^Y W~ wirhout waNrinq a ~ffuctinp rny option, li~++, squiry, a?iyhi vndrr o~ by vinue of this Mort~sy~, and the
full arnount af ~~nd evKy such paym~nt Rhall b~ im,~n~diahly dw ar~d p~yabl~ and ~hall b~ae ineer~st from tin d~te tMreof until paid ~t the rat~ of
nirN pK qnrum p~r annum am! tc~yeiher with tuch inrerpt shall kae iecured by tM lien of thie morrpag+.
4. To p~rmft, a~mMit or suff~r no wast~, imp~i?ment or deterior~tion of said property w+ny part thereof.
5. Te pay sll ~nd sirgula~ th~ cwti, CMrpe~ and expen~, incl~dinp a resson~bte ~ttorney't fee and twN of abttracn of title, lncurred or paid ~t
~ny tim~ by said N1bRTGAGEE, btauss w in tM rvfnt cf the failure on the part of the said MORTGAGOR to duly, promptly snd fully p~.fwm, di~charqe
~x~tv», ~fMtt, oompl~N, tomply with ~r~d ~bide by ~~ch and every the stipulation~, spreementa, to~ditioro, •nd cov~n~nts of ~aid prcxnissory note •nd this
mpl~aq~ any or ~itF~, ~nd ~1aid cosq, tfi~ryet •nd expen~es, each ~nd ~wry, shal~ b~ in+mediately dve and payable; whcther w rwt there ba notice d~
mand, attempt to collM or tuit p~ndings and tM full amount of each and every futh payment shall bee~ inttr~~t from the date fF+ereof until paid ~t the
rats of n~r~e prr cemum pa? annum; and ali uid mi», charyas and expenses incurr~d ar paid, sogethar with tuch int~rwt, shall bt tetur~d by the li~n of this
6. TMt (a) On the ~vsnt of ~ny breach of thiY Mortgaye or defa~lt on tF+e part of the MOR7GAGOR, or (b) in the ~vent any of s+id tums of money
Mnln r~hrred to ba not promptly snd fully paid within thirty (30) day~ rKxt after the same severally betome dua and payable, without demand or notito,
or In tM ~veM NCh rnd every tl+e ~tipulatian, agreema~t~, conditions and covenints of sald promissory nate and th~s martgaye any or either are nof
~uly, promptly and fully p~rformed, discherged, axecuted, effeded, compltted, complied with and sbided by, the~ in sither or •ny wch wsnt ths aid +g
ptpat~ wm rrwntiornd in ~aid promiuory note then remaininy unpaid, with interest accrued, a?d all moneys fet~r~d. hereby, shall become d~e end pay
~bl~ fwthwith, o~ thsre~ft~r, at fl+s option of said MORTGAGEE, ai fuily arx~ comptetsly aa if all of N,e u~d i~en~ of money were oripinally ttipulsted
fo br paid ~+n such day, anytfiirg in safd promiuory note or in this Mortqage to the con!nry notwirhstandiny; and thereupon or thereafter at the option of
taid MONTGAGEE, without ~otite or demand, suit st law or in cquity, therafore or there~fter bequn, may be prwecutad at if all moneyi secured hereby
had matund prior to its inttit~rion.
7. That ln the event that ~t tM boginninq of or ~t any time pending any suif upon this Mortgage, o~ to forsclo~e it, or to reform it, or to enforcs
payment of ~ny tlaim~ he?evndar, s~id MORTGAGEE shall apply to the Court having jurisdittian ther~of for ths ~ppoi~tment of a Reteiver, ~uch Cavrt shell
fo~fiwkh appoint a receiver of sai~ mortpaged property all and singvlar, includ~ng all and •ingular th~ income, profiu, issues and revenues from whatever
~ourn d~rivad, esch snd ~very o which, it being expressly understood, ia hareby mortgaged ss if ~pecificelly iet forth and described in the Qrantin9 and
1?~b~ndum clauitt hereof, and tuch keteiver ahall have all the broad snd effective funct~ons and powers in anywise entrust:d by s Covrt tq a Reteivtr, and
wth ~ppointment shalt ba mecle by s~ch Caurt se ~n ~dmitted rqvity and a ma»tr of absalutt right to faid MORTGAGEE, end without referenca to the
adrq~~cy a inadpuaty of the v~lus of the p~operty mortgaged or to the solvency or insolvency of said MORTGAGOR or the defendants, end that ~uch
r~nri, profits, income, tusxs snd revenues shall be epplied by such Receiver accordi~y to the lien or equity of iaid MORTGAGEE end the practice of such
COUIY.
B. To duly, promptly and fully perform, discharye, execute, effett, tomplete, comply with and abide by each snd evary ihe stipulationt, agreerranfs,
conditions and coven~nts in said promluory note and this mortgage set fwth. '
9. That in tM event the ownarship of the mortgaqed premius, or any part thereof, bxomes vest~d in a perwn other tfian the MORTGAGOR, 1he
MORTGAGEE, iri sutceswrs and iuiflns, may, without notice to the MORTGAOR, deal with such tuccessw w wtteswr in imerest v~ith refere~ce to thi~
mortpap~ and tha debt hereby secursd in the same manner as with Mortgaqor without in any way vitietinp or dis<harging tha Mortgagors' liabiiity herr
under or upon th~ debt hereby secured. No tale of the premise~ here~y mortgaged end no forbearance on tfie part of the MORTGAGEE or its wccassor~
or aui9ns and no extension of thr sime for the payment of the debt hereby secured y~~en by the MORTGAGEE or its successors or su;gns, sfiali operate
to r~leue, diuharys, modify thange or affett the original liability of the MORTGAGOR herein, either in whole or in part.
10. It i~ tpectficsliy agreed that time is of the esaence of this controct and that no waiver of sny obligation hereunder or of the obligation se-
tur~d hereby ~hall at eny time thereafter be held to be a waiver of the terms hereof or of ths instrument secured herby.
11. !n addition to the forego:ng monthly payme~ts of princ'pa~ and interest required by the promiswry note :ecured hereby, mortgegor covenants
snd apreet to pay to mortgagee with ea~h monthly payrnent an addirional sum estimated by mortgagee to be equal to 1/12 of the annual cost of the follow-
iny:
A-All real property tsxes levied or sssessed against the above des~ribed real estare.
B--premiumt on fire and windatorm insurance as herein requ~ted to be wrried on the improveme~t~ situate on the above described premises.
C-Premiums on auth mortgage guaranty insurance as mortgagee ahall ftom time to time deem fit to tarry on the loan secured hereby.
Mortgagee shall from time +o time notify mortgagor in writing of the amount due and payable hereunder and such ~um shall thereupon be due and
payable on the due aate of rhe next monthly payment and each successive month thereafter until mortgaget shall notify mortgagor of a change in such
emount. Such yums thall be applied by mortgagae toward the payment of real property taxes, insurance :ums, and martgage guarenty insurance
ptemiums.
IN WITNESS WNEREOF, the seid MORTGAGOR has b~ereunto set his hand and seal the day ~nd y first~aforeseid. _,y
5i , ed nd de 'wred i ~ pr e of:
e!)
~ ~~~f' ~ -r~~~~ - • . a me ~ ~ ~
~~-s.._.__ 4~ ts..n
Loui~e P.almer _~~ai~
STATE OF FLORI~A ~
Saint Lucie
couNrr oF
Befwe me p~nonally appeared . A. P~ lme r and
Laui s e P a lme r his wife, to me well known and known io me to bt
the Individwls dewibed in ~rx! who ezecuted the foregoing instrument, ~nd acknowled9ed before me tfiat they executed the ~ame for the purposea
therein axPressed. And the sa~~ Lnui s e P e lmer
wife of the wid W ~ A e l.me r ~pon a separate and privet+
examination by me taken uparote and apart from her said husband, acknowledged to and before me that she executed said instrument freely and volun-
qrily ~nd without sny tompu{sion, tonstraint, spprehension, or ~ar of or from her said husbend.
c' Se tember b~
WITNE55 my hand and offitial seal thit~._.,~~5 rlay of_ A. D. i4
~ ~ _"~-~~i ~ _
' Notary Public en ar,d for ths ste of Florida at Larpe
My Commission ~xpires:
Return 10: Notery Publfc, State ot Flarida at Lar
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