HomeMy WebLinkAbout1703 3. To piac~ and conNnvously keep on the bu~!ding~ now a hereafter ~ituste on said land and on all cqu~pment ~nd personally covered by thii mortq~ ~
sge, w~th all p~emiu~m ~hereon pa~d in full, fire i~:urence in the usual standard po~icy form, 1n a sum appraved by the MORTGAGEE, and windstorm
~nsurance in tM usual standard po?~cy fwm, in a sum app~oved by the MORTGAGEE, in sucA companY or compan~es ai ~he MORTGAGEE may
direct; ~nd all tir~ ~~d w~nds~o~m insuronce po~k~e~ on any of said bu~~d~ngs, +ny i~tere~t therein or part ~hereof, in the +gg~eg~~e sum ~fo~eaid w
in saceu Ihereo(, shall contain tl+s usual standa~d mo~rgagee clause w such o~her clauss as the Matpagee may rcqu~~e, ma?ir~ the lo~s under sa~d polr
c~es, each ~nd every, payab~e to said MORTGAGEE as ~ts infereit may app~a., and each and every such po~icy shall be p~ompt~y ~ss.gned and delivered ~o
~ny held by said MORTGAGEE +i fur~he~ securiry to said matgage debt, and, rat less tMn ten (10) days in advance of the expiration of e~ch polky, to de-
livsr to uid MORTGAGEE • ~cnewat thereof, toge~he~ wifh a rece~pt fw the p~emium oi such rcnewal; and ~here shall be no f~re or windstorm insurance
plsced on ~ny of said buildings, ~ny inte?est therein w parl thereof, unless in ~he fon+i and with the loss payable as afae~aid; snd in the event any sum
of maney becomef payabte under such po~icy w po~~cies said MORTGAGEE shall Mve the option to ~eceive and apply the same on account, o~ the indebted-
neu secvred hereby a ro permit ssid MORTGAGORS 1o receive snd uss it a any par~ thereof for othcr pwpoaes, .v~~ho.:t thercu~ warvi~.g or ~mpair• ;
ing any equ~ty, lien or righ~ under w b~ virtue of this matgage; +nd N+ ~he event said MORTGAGORS shall fw ~ny reason f~il to keep ~he sald premises so !
insured, or fail ro deliver promptly any of said policies of insu~ancr to said MORTGAGEE, a(ail promptly to p+y fulty sny premium therefor or in a~y
respect fail to pe~form, d~scharge, execute, effect, comptete, comply wi~h and abide by this covenant, or any part hrreof, said MORTGAGEE may place and
pey for such insu~ance w ~nY put thereof without walving w affetting any option, lien, eqvity, o~ righ? undst a by virtue of ~h~s Mwrqaqe, and tht
iull +mov~t oi each and every such payment shall be immediately due and payable and shall bear interesl from the date thereof until paid a1 thc rate o1 ~
nine pe~ centum pe? annum and to~ether with suth intereat si,all be iecured by the I'~en of this mwtgsge. '
To permit. co:nmit a suf(er no waste, impairrtxnt or deterioration of taid property w any psrt the~eof.
5. To pay all and singulsr the.costs, charges and expenxs, including a~easonable attorney's fee and cos?s of abstracri of title, incurred w paid ~t ~
any time by uid MORTGAGfE, because o~ in the evcnt of the failure on the pa?t of the said MORTGAGOR to dvly, promptly and fu?ly per(wm, d~scharge,
exavte, effecL complcte, comply w~th and ~b:de by each and every the s~~pu~at~ons, agreeme~ts, conditions, and covenann of said promiswry note and ~his
mwtgage any w eithe?, snd u~d cosn, charges and expenses, each and every, shall be immcdiately due and payab:e; whether w not there be ~otice de
mand, attempt to colled w suit pending; snd the full arnount of each snd e~•ery such paymem sMl~ bea~ interest from the date thereof until paid at the
rate of nine per centum per am~urn; and all said costs, charges and expenxs incurred or paid, ~ogether w~th such intcrest, shall be secured by the lien of this
mort~~ye.
Q That (s) in the evcnt of sny breach of this Mortgsge or default on the paA of the MORTGAGOR, w(b) in the evcnt any of seid tums of money
herein referred to be not prampuy and fully p~id within thirty (30) days neat afte? the same severally become due and payable, without demand w notice,
or (c) i++ the evertt each and every the stipulations, agreements, cond~t~ons and covenants of sa~d promissory note and this mortgage any w eitlxr are not
iuly, promptly and fully performed, d~scharged, executed, eftected, completed, compl~ed with a~d ab~ded 5y, then in either or any svch event the sa~d aQ
yreqaM wm mentioned in said promissory note then remaining vnpaid, with interest accrued, and all moneys secured hereby, shall become due ~nd psy- :
abla fathwith, a tF+ereaftcr, at the opt~on of said MORTGAGEE, ~s fully and completely as if all of the said sums of money were orgin~lly tt~pulated
to be paid on such day, anything in sa:d prom~sswy note w in this Mortgage to the contrsry ootwithstanding; and thereupon or thereafter +t the opt~on of f
sa~d MORTGAGEE, wirhout not~ce or demand, suit at law w in equity, theretwe or ~hereai~er begun, may be prosecuted as if all moneyf secured hereby
had matured pnw to its institution.
7. That in the event that at the beginNng of or st any time pending say suif upon this Mo.tgage, w fo foreclose if, or to refwm if, or to enforce
payment of ~ny claims herevnder, said MORTGAGEE shall apply to the Court hav+ng jur~sd~c~~on thereof tor ~he appo~ntment of ~ Receiver, such Courf shalt
iortFiwith appo~M a receiver of said mortgaged property atl and singutar, includ~ng aIl and singular the income, p~ofits, issues and revenues irom wh.tever
iource derived, each and evcry of which, it being exprasly understood, ia hcreby mortgaged at if ~peulically ut forth and described in the g?anting and
hnb~ndum clavses F+ereof, and such Receiver shall have sll the bro~d and effective funa~ons and powcrs in anywise entrusted by a Court fo a Receiver, and
s~ch appointment shalt be made by such Court as an admitted equity and a matter of absolu?e right to said MORTGAGEE, and without reference to the
edrquaq o? inadequaty of the value of fhe prope~ty matgaged or to the w~vency or insolveruy ot said MORTGAGOR a the defendants, and that such
re~ts, profin, income, iuves and revenues shall be applied by such Receiver accord~n9 to the lien w equity oi sa~d MORTGAGEE and the practice of such
Court.
8. To duly, promptly and fully perfwm, d~scharge, execute, effect, complete, comply w~th and ab~ by each and every the stipulations, agreemenb,
condiiwns ~nd covenants in sa~d promissory note and tAis mwtgage set fath.
9. That in the event the owne~ship of the mortgsged premises, w any part thereof, becomes vested in s person other than the MORTGAGOR, the
MORTGAGEE, its successors snd assigns, may, without ratice to the MORTGAOR, deal with such successor w successor in interest with reference to this :
mortgage and the debt hertby secu~ed in the same manner as with Mortgagor without in any way vitiating or d~xharging tF~e Mongagots' liability hero- '
under a upon the debt hereby secured. No sale of the premises he?eby mortqaged and no fortxarance on the part of the MORTGAGEE or its succeswrs
or assi9ns and no extension of Ihe tir»e for the payment of the dcbt hereby secured given by the M.ORTGAGEE or its suctessws ot ass:gns, siull operate
to release, discharge, modify change or affect the original liabii~ty of the MORTGAGOR herein, either in whok w in psrt.
10. N is spectfically agreed that time is of the essence of th~s contract and that no waiver of any oblgation herevndcr or of the obligation tr
c~red hereby shall at any time thereafter be held to be a waiver ol the terms hereof w of the instrumeot secured herby.
11. In add~tion to the fwego:ng monthly paymcnts of princ'pD~ and inte~est required by the p~om~ssory note secured hereby, mortgagor covenants
and agrees to pay to mortgagee with each mon~hly payment an add~~~onal sum esr~ma~ed by mwtgagee to be eq~al to 1/12 of the annuaf cost of the follow-
ing:
'i Ar-All real property taxes levied or auessed against the above desaibed real estate.
! B-Premiums on fire and windstorm insurance as herein requ~red to be carried on the improvements situate on the above de:cribed premises.
~ C-Premiums on such mortgage guaranty insurar.ce as mortgagee shall from t~me to time deem fit to carry on the loan secured hereby.
~ Mortgagee shall from time to time notify mortgagor in writ~ng of the amount due and payabie hereundrr and such sum shaH thereupon be due and
6
~ payable on the due date of the next month:y payment and each successive month thereafte? until mcvtgagee shatl notify mortgagw of a change in such
i a~nount. Such sums shall be applied by mortgagee toward the payment of real property taxes, insurance prem.ums, and mortgage guaranty insurance
t premivms.
IN Y~ITNESS HEREOF, the said MORTGAGOR has hereunto set his hand and seal the day ear first sf«esai ~
$iyned. Se an i r in t reagnce of: X J
' sq
i~ Bernard M. Palmer as ,t.,q
~ Guardian of the ro ert ~
' da Ma P Incom e ~:t
x Seal) ;
~!~!clR~t4~x ~e rn e rd M, s lme r_ .
STATE OF fLORIDA ~
S5.
COUNTY Of ~f% T~ ]~i P.
Befwemepersonallysppeared Bernard M. Palmer. individually and as Gusrdian oP the~pert~
~ of Linda Ma,y Pslmer his incom~etent wife --~n,~nr~ tq,rBp well known snd krawn m~ w b. ,
the indiridwls desaibed in and who executed the fwtgoing instrument, and acknowkdged befwe me that-~iier e:ecuted the sams for the purposa
~ rfi~~~M.,~,~„~,~,~~.~; in the respective canacities state
~ 7r.~lEiiC~iE7mxxa~r~~ x~6s,x.xs~o~crmiCld[~OfrlHC
Y..
~ WITNESS my h~nd ~ed official seal thi day o M9 C ` A D. 19 66
~ G
~ . Notary Public in and for the $tate of (orida at Larye ,
~ My Commisian expires: ~~/~~i~~0 '
Return To: ~ a
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