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HomeMy WebLinkAbout1549 3. To place and continuously keep on the bui!d~ngs now or hereafter ~i+uate on sa~d lend and on a!I equipmeM and peno~alty cowrcd by ihis mortq~ aq~, with ~II p~emiums thereon pald in fult, tire insurance ~n the usua~ sta~xlard policy form, in ~ sum approved by the MOR(GAGEE, and windatorm iniunnce in the u~ual ~randerd policy form, in a sum approved by the MORTGAGEE, in such company or tompanitK aa the MORTGAGEE miy dirtct; snd •II iire and wind~iorm insuroncr pol~ue• on any of seid bui;dings, any interest therein or part thereof, in ths ~gg~ege~• wm afw~said or lo extes~ thereof, shall con!aen the usuel standard morrgagee cla~ee or such other clause as the Mortgagee may requir~, mekinq the loss under sa~d poli- ci~f, e~ch and every, payablr ro said MORTGAGEE es ~rs inreres~ may appear, and each and every such poGcy ~hall be promptly s~s gned •nd delive~ed ro ~ny held by said MORTGAGEE n further tecurity to aeid mortgaga drbt, and, not less than ten (10) days in advance of ths ezpiration of each policy, to de- ~iver to uid MORTGAGEE a renewal thereof, together with e rece~pt for the premivm of such renewal; and there shall be no fire or windstorm insuranta plated on any of eaid buildings, any interasf there~n or part thereof, unless in the form and with the loss payable as afe-esaid; snd in the event any s~m of money becomes payable under auch policy or pol~cies said MORTGAGEE shall hsve rhe opt~on to receive and apply the seme on accvur.t of the indebted- ntsf setured hereby or to permit said MORTGAGOi2S ro receive and uae it o? any pa~t thereof for other purposef, without thereb~ waivi~ig or imp~ir- inq any ~qvity, lisn w right under or by virtu~ of thi~ morfgage; and in tha event i~id MORTGAGORS thall for •ny reason fail to keep the faid premises so in~ured, or fsil to deliver promptly any of said policies of insurence to said MORTGAGEE, or fail promptly ta pay ful~y any premium therefor or in sny r~epect fail to pbrfo~m, discharge, execute, effect, complere, comply wirh and abide by thit tovenant, or any pert hereof, said MORTGAGEE may place and pay for ~uch inwronce et any pert thereof without weiving or effectir~ sny option, lien, equity, or right under or by virtus of rhis Mortgaye, ~nd the fvll omovnt of ssch and every ~uch payment shall be immediately due and payable and •hall bear i~tereei from ths dals thereof until paid at the rote ol nine pfr centum per annum and together with iuch interest sha~i be secured by the lien of thit mortyage. 4. 7o p~rmit, commit or suffe~ no waste, impairment or deteriorotion of said property or any art thereof. 5. To pey all ond tingular the costs, charges and expenses, including ~ reasoneble attor~iey's ee and costs of abstrocts of title, inwrred or paid at sny time 6y said MORTGAGEE, becausc or in the event of the failure on tkc part of the aaid MORT •AGOR to duly, promptly and fuily perform, discharge, exetuts, affect, complete, comply with and abide by each and every the atip~lations, agreements, conditions, and covenents of said promissory note and th~s ' mortqage any or eifher, end said costs, charges and ezpensea, each and every, thell be immediarely dve and peyable; whethe~ or not there be notice ds mind, attempt to collect or suit pend~ng; and the full amount of eazh and e~ery such payment sha~l bear interest fcom the date thereof until peid at the rete of nine per tentum per amium; and all said costi, charges and expenses incurred or paid, toyether w~th •uch inter~st, thall bo ietured by the lien of thif mutyays. 6. Thai (a) in the evenf of eny breach of this Mortgage or default an the part af the MORTGAGOR, or (b) in the evant any oi ~aid ~ums of money her~in rcfsrred to be not prompt~y and iully paid wi~hin thirty (30) days nexi affer the same severa~ly betome due and payable, without demend or notice, or (c) in ihe eve~t eath and every the stipulations, agreements, cond~tions and covenants of aa;d promissory note and th~s morigage any or either ere no1 ~~ly, promptly end fully performed, discharged, executed, effected, completed, compl~ed with and abided hy, then in either or rny such event the said ay~ qrayats sum mentioned in said promissory note then remaining unpaid, with interest accrued, and al~ moneys secured hereby, ahall become due and pay eble forthwith, or tfiereafter, at the option of said MORTGAGEE, aa fulty and completely as if all of the said aumt of money were originally ttinulated to be peid on svth day, anything in said promissory note or in this Mortgage to the contrary notwithstanding; and rhereupon or thereaftei at the option of •~id MORTGAGEE, without notice or demand, suit at law or in equity, therefore or thereafter begun, may be prosecuted aa if all moneys secured hereby had matured prior to its institution. 7. That in the event that at the beginning of or at any time pending any suit upon fhis Mortgage, or to fwecloie it, or to reform it, or to enforce psyment of any claims hereunder, said MORTGAGEE shalf apply to the Coun having jurisd~ctic,n thereof for the appo~ntment of s Receiver, such Court shall Forthwith appoint a receiver of saifl mortgaged property all and singular, ind~d~ng all and singular r!,e intome, profits, issues ard revenve~ from whatever wurce derived, each and every of which, it being expressly undersrood, is hereby mortgaged as if spec~ficaily set fonh and described in the gronting and habendum clauses hereof, and such Receiver shall have all the broad and effective funt~,ons and powers in anywise entrusted by a Court tq a Receiver, and ~uch appointment shall be made by such Court as an admitted equity and a matter of absolute right to said MC~RTGAGEE, and witl~out reference to the adequacy or inadequacy of the vatue of the property morrgaged or to the so;vency or ~nsolvency of sa~d MORiGAGOR or the defendanti, and that auch ?ents, profits, incame, issues and revenues shall be applied by such Rece~ver accord~ng to the lien or equity of said MURTGAGEE and the praUice of wch Court. 8. 7o duly, promptly and fully perform, discharge, execute, effect, comple!e, comply with and abide by eeth end every the stipuiations, agreements, conditions and tav~narts in sa~d promissory note and this mortgage set for`h. 9. That in the event the ownership of the mortgaged premises, or any part therrof, becomes vested in a perton other than the MORTGAGOR, the MORTGAGEE, its successora ar.d assigns, may, w~thout notice to the MORTGAOR, deal wilh such successor or wccessor in inferest with reference to this mortgage end the debt hereby secured in the same mar.ner as with Mortgagor without in eny way vit~ating or dischaiging the Mortgagors' liabifity hertr under ot upon ihe debt he:eby secured. No sale of the Fremises hereby mortgaged and no forbearance on ihe part of the MORTGAGEE or its successon or essigns and no extension of the time for the payment of the deb~ hereby secured given by the MORiGAGEE or its succeasors ar aaa~gns, shall oparate to relea~e, diacharge, modify change or affect the orig~na! liability of the MORTGAGOR herein, either in whole or in pari. 10. (t is apetlfitally agreed that time is of the essence of this contratt and that no waiver af any obligation hereunder or of the obiiqation se- cured hereby shall at any time thereafter be held to be a waiver of the termt Fereof or of the instrument secured herby. 11. In add~tio? to the forego:ng month!y paym=nts of princ'pal and interest required by the ptom~ssory no!e secured hereby, mortgagor covenants and agrees to pay to mortgagee with each monthiy payrr.ent an add~rional sum esUn:ated by mortgagee tn be eq~al to 1/ 12 of the annual tost of the follow- ing: A-All reaf property tazes lev~ed or assessed ayai~,s! th~ above described real estate. B--Premiums on fire and windstorm ins~racce as herein requ:red to be ca~ried en the lmprovements s~tuate on the above d=scribed premises. C-Premiums on s~ch mor.gage gvaranry insv~ar,ce as mo~rgagee shall frorr: t me to time deem fit to carry on the loan secured hereby. Morigac~ee shall from time to tir¢ notify mortya3or in writirtg of the amo~nt d~~e and payable heteund~r and such sum shail there~pon be due end payable on the d~e date of the next monthfy payment and each successive month thereafrer ur,til mortgagee shall notify mortgagor of a change in such emount. Such sums shali be appfied by mortgagee to~.vard the payment of reel property taxes, insurance prem;ums, and mortgage suarenty insurance premiums. IN WITiVESS WHEREOf, the said MORTGAGOR has hereunto set his hand and seal the day and year first aforesaid. ' ned, sted ar~ deliv in th presence of: G ~ ---~5la~~ "J " (Sea i) (5eei) - (5eal) STATE OP FLORIDA ~ . 5ain} Lucie couNrr oF Befora me periona!!y ap,xared .~0~9~C'~ F. Meeko snd Vir~iniu ~BA1C0 his wife, to me well known and knowr. to me to be the individuel~ destribed in and who executed the foregoing instrument, and acknowledge~ before me that they exEtuted the xam~ for the purposes therein exFressed. And the aaid Vir ~i nj. a Me eko wife of the taid ~~~@T't F. MP,A~{O , upon a separate ar~d private examinetion by me taken separate and apart from her said husband, acknowledged to and before me that she executed said instrument freely and volun- tarily end w~thout eny compulsion, constraint, apprehens~on, ar ar of or from her said husband. WITNESS my hand and ~fficial :ea~ thia day of_ tober A. D. 196 ~ ~ ~ ~ Notary Public in and for the State cf Florida at Large F'{LEO AND R~COROEO My Commission expires Rrturn To: ~ ~O ~otary P~b~i~ g~te oi F:orl~a at larp,e Firaf Federal Savings d~ Loan Association ~~~Y O~ Bonded by .4meri an SuretJ~V~ 3' 195~ Of .Fort Pi±rce. Y CO. O' Fort Pier~e, Fbrida '6S ~~T 2 S ~yM ~ o~ • • , ~~~J~~ I } ROGtF r~:); ~ F.,~S. CLERK ~.;;'.`-ti _ " - S1'. LUCIE COUfv7Y, _ . 1't _ ' a . , - ' ' _ FL.O~lQA ' ~ , - _ ' . ~ f, , _ , r.. , ' . v . . ~ ' . ~ ~~~A~l1.1~• , R~~- . • . J a ^ . U K J! 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