HomeMy WebLinkAbout1483 3. To plae~ end continuously iceep on the bu~ldings n~w or hareafter i~tuats on said land and on all equipmMrt ~nd p~rson+llY cove~rd by thi~ martp-
pe, with ~!I premiums thereon pa~d in full, firr insuron:e in the usual ftandard poiity form, in a sum approv~d by the MORfGAGEE, and windttwm
Msurancs in tha usual st~nderd policy form, i~ a~um rpprovtd by the MORTGAGEE, in such company or compani~s tM MORTGAGEE may
direct; ~nd •11 ffra and wind~torm insuro~ce po~iciea on any of said b,ildings, ~ny intere~t therein or part thsreof, in ihe a99reyste ~um ~for~said w
in ~xteu therwf, shali contsin the usual arandard morrgagee ciavse or such other clauae as the Mortgaqee may ~equ~r~, makinq ths loss under ~aid polF
cies, s~ch and every, payable to ssid MORYGAGEE as irs interest may appaar, and each and every such policy fhall be promptlY ss~:9~ed ~nd dtliv~red to
ie+y held by said MORTGAGEE ~t further security ~o se~d mortgage debt, and, not less than ten (10) days in advance of the expiration of each policy, to dt
(iver to s~id MORTGAGEE a renewal theraof, to9eth~r with a receipt for the premium of such renewal; and there shall be no fire or windato~m insurance
plattd on ~ny of s~id buildinys, any interctt therein or pert thereof, unless in the form and with the loss psysble ~s aforeseid; and in the event any sum
of monry becomet payab~e under ~uch policy or policies iaid MORTGAGEE shall have the option to receive e~d spply the same on actount of tht indebted-
n~u tetured hereby or ro permit said MORTGAGORS to receive end ute it w any part thercof for othcr purposrs, w~thout thereb~ waiving or impair•
inq any puity, lien or reght under or by virtu~ of thi3 morlgage; and in the event aa~d MORTGAGORS thall for any reesa~ fail to keep the said premises so
insured, or fsil to deliver promptly sny of said policies of insursnce to said MORTGAGEE, o? fail p~omptty to pay fully sny premium therefor br in any
reapect fail to psrform, distharge, execute, effett, complete, comply with a~d abisle by this covenant, or any part hereof, said MORTGAGEE mav place and
pay for such Inwrance or •ny part th~reof without waiving or affectinp eny option, lien, equity, or riQht undar w by virtue of this M~rtqaye, and the
full amount of eech and ewry such payment shall b= immediatrly due and payable ~nd shall bear intereat from tha date thereof until paid at the rate ol
nine per cantum per annum and together with such interast snall be ~ecured by the lidn of this mortgage.
4. To permit, tommit or suffer no wa~te, impairment or deterioration of said property or any part thereof.
S. To pay all and aingular the costs, tharges and expensea, includ~ng a reasonable ettorney's fee end costs of ebstract~ of title, incuired or pe~d at
any tirne by said MQRTGAGEE, I~BCAUSC Of in rha event of the failure on the pa.t of the said MORTGAGOR to duly, promptly snd fully parform, discherge.
~xecvte, effed, complete, comply with and •b~de by each and every the stipulations, agreements, cvnditions, and covenents of sa+d promissory nate and thi~
moriqays any or either, snd aaid costs, therges and expenaes, each and every, thall be immediately due and paytble; whether or not there be notice dt
mand, ~ttempt to col~ect or suit pena~ng; and the full amovnt of each and every auch payment shall bear interest from the date lhereof until paid at the
rate of nine per centum per annum; and all said costs, charges and eapenaes inturrcd or paid, together w~th such intere~t, sha? be setured by the lien of thi~
mortpa~~.
S. That (a) in the svent of any brench of this Mortgage or default on the part of the MOR7GAGOR, or (b) in the event eny of ~eid sums of money
fiertin referred to be not promptly and fully paid within thirty (30) days nex~ after the same severally become due and payable, without demand or notite,
or (t) In the event each and every the stipulations, agreements, cond~t~ons and covenents af sa~d p~om~ssory note and th~s mortgaqe eny or ei~her sre not
~uly, promptly and fully performed, discharged, ezecured, effected, compieted, complied with and nbided 5y, then in either w any such event fhe said ~q~
preqate sum mentio~ied in •aid promissory note then remaining unpaid, with interest accrued, end all moneys secured hereby, shall betome d~e and pay
abl• iorthwith, or thereafter, at the option af said MORTGAGEE, aa fully and tompletely as if all of the said sun+a of money were or~ginally ~tipulated
to br paid on such day, anything in said promissory note or in this Mortgege to the contrary notwithatanding; and thereupon or thereafter at the option of
t~id MORTGAGEE, without notice or demand, suit at law or in equity, therefore or thereafrer begun, may be prosecuted as if ell moneys secured hereby
had matured prror to its inatitution.
7. That in the event that et the beginning of or at any time pending any suiT upon this Mo~tgaqe, ot to foreclosa it, ot to reform it, or to enforu
payment of eny claims hereunder, ssid MORTGAGEE shafl apply to the Court having jurisd~c+ion ~hereof for the appointment of ~ Receiver, wth Court shall
Forthwith appoint a receiver of sai~ mortgaged property all and singuler, inciud~ng aIl and sing~lar the income, profits, issues and revenues from whatev~r
source derived, each end every of wh~ch, it being expressly understood, is hereby mortgeged as if ~pec~{ically set forth end described i~ the yranting and
habendum clausea hereof, and suth Rece~ve~ shall have all the broad and effxtive funct,ons and powers in anywise entrunted by a Court to a Receiver, •nd
~uch appointment sha11 be made by such Court as an adrnitted equity and a matrer af ebsolure right to uid MORTGAGEE, and without roferente to the
sdequacy or inadequacy of the value of the properly mortgaged or to the sotvency or inso~vency of said MORTGAGOR or ihe defendants, and that such
rents, profits, income, issues and revenues shail be applied 6y such Receiver according to the lien or equity of taid MORiGAGEE ~nd the proctice of wch
Court.
8. To duly, promptly and fully perform, discharge, exacute, effect, complere, camply with and abide by each snd every the stipufationa, egreements,
conditions and covenams in sa~d prom!ssory note and fh~s mortgage set forth.
9. that in the event the ownership of the martgaged premises, or any part thereof, becomes vested in a parson other !han the MORTGAGOR, the
MORTGAGEE, itf successors and assigns, may, without notice, to the MORTGAOR, deal with such s~ccessor or wccesso~ in interest with reference to this
mortyege and the debt hereby secure~ Sn the same manner as wifh hlortgagor wirhout in any way vitiating or discharginy the Mortgagws' liability her~-
under or upon the debt hereby secured. No sale of ~he premises hereby mortgaged and no forbearance o~ the part of the MORTGAGEE or its sutcesson
or a~signs and no extension of the rime for the paymem of the debt hereby secu~ed given by the MORTGAGEE or its successore or assigns, .hali operate
1o release, distharge, modify chanye or aFfect the orig~naV liab~lity of the MORTGAGOR herein, either in whole or in part.
10. It is specificaliy agreed thet time is of the essence of this contract and that no weiver of any obligation hereunder or of the obliqatian sa-
cured hereby shalt at any time thereafter be held to be a waiver of the terms hereof or of the instrument secured herby.
17. In add~tion to tFe forego:ng month!y payments ot princ'pal and inrerest requirecf by the pramissory note secured hereby, mortgagor covanants
and agrees to pay to mortgagee with each monthiy payrnent an addirional sum est;mated by mortgagee to be equal to 1~'12 af the annual cost of ihe follow-
ing:
A-All real praperty taxes levi~d or ass>ssed agai•~st thc a6ave described real estate.
B-Premiums on fire and windstorm insurar.ce as here~n requ red !o be carried on the improveme~ti situate on the above detcribed premises.
C-Premiums on such mongage guaranty ir.aurante as rrortgagee shall from t~me to time deem fit to tarry on the loan secured hereby.
Mortgagee shail from Tiine to time notify mortgagcr In writ~ng nf the amount due ~nd payable hereundzr and such sum shali thereupon be due and
p~yable on the d~e da!e of the nexr monthly payment and each successive month thereaft:r ur.til mortgagee shall notify mortgagor of a thar.ge in such
emount. Such sums sha~l be applied by rtiortqagee towaid the payment of real property taxes, insurance prem~uins, and mortgage guarenty insurar.ce
premium~.
WITNE55 WHEREOF, the said MOR7GAGCR i-~as here~nto set his hand and seal the day and year first eforesnid.
gned, 5'aled nd elivered in the presence of:
w.._..($eel)
` (Ssal)
(S~al)
W (Sea I)
STATE Of FLORIDA
Saint Lucie ~
cour~rr oF
Before me persnnally a peared John B, cTOY'iYl~!QTl end
~he r chn e on his wife, to me well known and known to me to be
the individuals deacribed in and who executed the foregoing instrument, end acknowledged before me that 4hey executed the same fot tha purpo~ee
therein expressed. And the taid E' , the r I`T . Jorn ~OT]
wife of the said 3ohn B John ~ on upon a aeperate and privata
exsmination by me taken separate rnd apart from her said husband, acknowiedged to and before me that she executed said instrument freely and volun-
farily and without eny compulsion, constraint, apprefiension, or fear of or from her aaid husband.
WiTNESS my hand and officiai :eal thiz 2~° t day of 0 torer A. D. 19
~ •
~ .
Notary Public in and for ~1~f~0'pf`,~id{~d1~ A(~ai~s-'
My Commission axpires: - ' " ~ ~ • . -
Retum To: ~j - ' . • '
firtt FederAl 5avin~{ li bO~n Association FILED AN~ RE eR~ ' !,G A~ ~A~,qf fl~~~ ~9~
Of Port ,P+e[fe: " ~ t~, • ' ~ K N~ E)(PIRES ,AP$. ?~t _
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~`~~`~V, ~~`.~~..~f~ / i Fr~ ~ L ~ M 3 • [ ' ry'~• r~'~ ~
' w' 65 OCT P ' 2
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t'.' ,.`~j _ ,.r~`=` g- ~ 4~ i ) ~ t.~
. - _ ftOG~~~ "r',~I"i"r~.aS. CLERK
. ~ 5T. LUCIE Ct3UNTY,
~-s;•- . , _ • ~ ~L~RIDA
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