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HomeMy WebLinkAbout1440 3. To plsc~ ~nd conti~uously keep on the build~ngs now w hsre~ita ~~tuat~ o~ iaid land and oe+ all equipment and p~nonally covaed by this mat~ with ~II ptemiurtR the~e:.~ pa~d i~ full, fire inivrance i~ the utual frandard potity (orm, ~n a sum ~pprov~d by tM MORTGAGEE, ~nd windstam i~iur~nce in tM usu~l ttandsrd pol~q form, in a s~m ~pproved by tM MORTGAGEE; in ~vch company o~ compan~tt +s 1F+~ MORTGAGEE may dirKtt and all tire and windstorm intunnte policies on any of said b~ildinys, ~ny i~terttt_ therein o~ part thertof, in tl+~ +pyreyat~ tum ~fwtsaEd or In ~xcess thereof, sMll tontain ~F+e usual stsndard mortgayee clause w iuch other clav~s +s tM Mort9agse m~y ~equ~r~, m~kinp 1M lou unde~ uid pol~ ci„, each ~nd every, payabl~ ro iaid MORTGAGEE +i its interest may ~ppear, and e+ch ~/IfI OvNy ~~rch policy shall be promptly ass:9ned aod delivered to ~ny Mld by said MORTGAGEE ~s further us~rity to said mal~~gs debt, and, not leu tMn te~ (10) dayt in advance of the expiratio~ of e+ch polity, to dr liver lo uid MQRTGAGEE • renewal tMrwf, loyetlw~ with • roceipt for the pramium of s~ch renewalj and there ihall b~ no fire w wind~tam insuranc~ plat~d on ~ny of said b~~ildings, ~ny i~tertsl the~tin or p+rt thereof, v~Ieu in the fonn'and with tM loss payable is ~iore:~id; and in tht event any wm of mon~y becomes paysble under such policy or policiei said MORTGAGEE shall haw tM op~ion to receive snd apply tM s~me on account oY tM indebted ntu ~ecvred hereby o~ ro permit wid MORTGAGORS to receivs and ~se it w any part thereof fo~ other p~rposes, w~~hout ~hereb~ waiving a~mpair- inp ~ny puity, lian or riyht ~nder a by virtw of this mort~age; snd in 1he ~venf said MORTGAGORS thsll for a~y re+son f~il to keep the said prsmites so insured, or fail ro deliver promptly sny of said policies of i~iunnce to said MORTGAGEE, a fait promptty to pay fully any premium theretor or in ~ny n~pett f~il to pafo~m, d~xharge, execute, effett, complets, comply with and abide by this covenant, w sny paN hereof, sa7d MORTGAGEE may place snd paY for t~ch iniu~uxs w ~ny put thereof without watvirg w affectinp ~ny option, li~n, equify. o~ righl unda w by vi?tw of this Mat9s~s. and tM full ~mount of each and every such payme~t ihall be imrnediatety du~ ar+d payabls and shall bear intcrest from tM dat~ thereof u~til pa~d a~ tM rat~ of nirw pe? centum pa sn~um ar,d together with sucA interest shall be secured by the lisn of this mortga~e. To permit, uommit or suffer no was~s, impairment a deterioration of sa~d prope.ty a ~ny parf thereof. S. To pay all and sirpulu the.costs, cMr~es and expenses, inctvding a reasonable attwney's fee and costs of sbstracn of tiNe, incvned or psid at any time by taid MORTGAGEE, because w in Ihe evcnt of the failure on the part of the said MORTGAGOR to duly, promptly and futly perform, dixharge, e:etvte, effsct, complete, comply with and abide by each ~~d every the stqwlations, agreements, conditions, and covenants of ssid promissory note and thi~ mortgape any w ei~F+e~, and sa~d costs, charges and expentes, each and every, shall be immediately due and pay~bte; whNher or not there be notice d~ m~nd, sttempl to collect or suit pend~ng; s~d the full amount of each and every such payment si»II bea. in~erest f~om the d~te thereof until p~id at the rate of nine per ccntum per annum; and all said cdats, charges and expenscs incurred or paid, togather with such inter~sf, shall be secured by tl?e lie~ of tha matyp~. 6. That ja) in the event of any breach of this Nb?tgage w default on the part oi the MORTGAGOR, w(b) in *he event any of ssid sums of money herein referred ro be not promptly s~d fully paid within thirty (30) days next after the same seve~atly become due snd payable, without dcmand w notice, or (c) in the eveqt each and every ~he stipulations, ~greemcnts, conditions and covensnts of sa~d promiuory note and th~s matyaye any o~ either ~re nol ~uly, ptomptly u~d fully pe?famed, d~xharged, executed, effected, compkred, complitd with and abided Sy, then in either a any s~ch event the s~id a¢ pre~aM wm mcntioned in wid promissory note thcn remaininy unpaid, with interesl acuued, and atl moneys secured hcreby, sMll bctome due ~nd pay- able fathwirh, or thereafter, ~t the optioe of said MORTGAGEE, as fully and compktely as if all of the said wms of mo~ey were originally tGpulated ro be paid on such day, anything in sa~d promissory ~+ote or in this Matgage to the contnry notwithstanding; and thereupon or thereafter at the op~~on of said MORTGAGEE, withou~ notice or demand, suit st laa w in equity, therefwe or thercaffer begvn, may be prosecuted as if all mamys secured FKreby had maturtd prwl to ib institution. 7, That in the event that at the beginn~ng of w at any time pendirg aoy su7t upon this Mortgage, or to faeclose it, or to refwm it, o? fo enforq p~yment of any claims hereunder, said MORTGAGEE shall apply to the Cour~ having jur~sdiction thereof for the +ppo~ntment of a Receiver, s~th Cour1 sMll FatFiwith ~ppoint s receiver of said mwtgaged property all and singular, inctud~ng all and si~gular the income, profiti, issues and revenves from whatever towce derived, each end every of wh~ch, i~ being expressly understood, is hereby mortgaged as if spec~fically set iwth and dewibed in the granring and habendum clauses hereof, 5nd such Rcceiver shall have all the boad and effective funct~ons aod powers in ~nywiu entruited by a Cou?t to a Receiver, and such appointment sha!! ~+e made by such Cour~ as an admitted equity and a matter of absolute righf to said MORTGAGEE, and without reference ro the adequscy or inadeq~acy of the value of the property mortgaged w to the sotvency or insolvency o( said N10RTGAGOR w the defendants, and that such rents, protits, income, issues and revenues shall be applied by such Receiver accwdirg to the lien or aquity of said MORTGAGEE and the practice of wch Court. 8. To d~l•r, promptly and fully perform, diuharge, execute, effect, mmplete, comply w~th snd abide by each and every the stipulations, ~grecmenfs, conditioro and covenants in w~d promiuory note and this mortgage ut forth. 9. That in the event the ownership of the mortgaged premisn, w any part thercof, becomes vested in a person other than the MORTGAL'iOR, the MORTGAGEE, its success«s and assigns, may, without notice fo the MORTGAOR, deal with such successor or successor in inferest wi~h reference to this mortgsge and the debt hereby secured in the ssme manner as with Mortgagw without in any way vitiating o? discha~ging the Monga9ors' liability herr under a upon the debt hereby secured. No sale of the prem~ses hereby mortgaged and no forbearance on the part of the MORIGAGEE w its successws w asi~gns and no extension of the time for the payment of the deb~ hereby secured g~vcn by the MORTGAGEE or its successors or auigns, shall operat~ ro release, dixharge, rnodify change cr affect the original liability of the MORTGAGOR herei~, either in whole or in part. 10. It is specifically agreed that time is of the essence of this contract and that no waiver of any obligauon hereunder p of the obligation sr n;red hereby shall at any time thereafter be held to be a waiver of the terms hereof w of the instrument secu~ed herby. 11. In add~tion to the (orego:ng monthly payments of princ'pDl and interest required by the promissory note secured hereby, mortgagor covenants and agrees to pay to morfgagee with each monthly paymcnt an add~iional sum estimated by mortgagee to be equal to 1/12 of the annual cost of the follow- ing: A-All real property taxes levied or assessed against the above described real estate. ~ B-Premiums on fire and windstorm insurance as here~n requ~red to be carried on the improveme~ts situate on tl?e above dtscribed premises. C-Premiums on s~ch mortgage guaranty insurar~ce as mortgagee shall from t~me to time deem fit to carry on the ban secured hereby. ~ AM1ortgagee shall from time to time notify mortgagor in writing of the amount due a~d payable hereunder and such sum shall thereupon be due and payable on the due date of the next monthly payment and each successive month lhereaf:~r ur.ti~ mortgagee shall notify mortgagor of a change in such amounf. Such sums shall be applied by mortgagee toward the payment of real property faxes, insurartce prem:ums, and mortgage guaranty ins~nnce ~ premiums. I IN WITNESS OF, the said MORTGAGOR has hereunto set his hand and seal the day ear first aforntaid_ , ~I a i ed iS t e presence of: v'~ sh (Seaq • . , ; n ~ n ; STATE OF FIORIDA 1 ~ j~ ~p~~y pF St . Lucie ~ ~ eefore me personally appeared MlltOn W. Baird M8T jOY 1@ C. Bai rd his wife, to me well known and known to me to be the individwls dewibed in and who executed the foregoing instrument, and acknowledged before me that they executed the same for the purpos~s dx.~~~ exP.esKd. a,a rr,~ said hta r i or i e C. B a i rd wife o+ the said Milton W. Bdl7d upo~ a separate and privat~ e:amination by me taken tepa~ate and apart from her said husband, sckrawledged ro snd before me that she executed said instrument frcely and volurr tarily ~nd without ar~y compulsion, constra~nt, appreFxns~ or fear of o? from her said husband. WITNESS my hsnd snd official teal this_Tf~ day of Februar ~ p. 19 6$ Notary P ic in and for the State of F{orida at Large My Co iuion expires: Return To: Fint Federal Savings 3 Loan Association Of Fort Pferce. `,.,~::t':111~• '~tC C~ F~0~1~" G~ ~7~ Fort Pierce. `!c+rida :c'~i::.~su~n Expires Aug. 6. ~9]1 , : _ - . . ~..-acw ir A~~ fs! d ~+waYr C9i1 This instrument re ared b ~ ST LED AND RECOROEDI P P Y _ - p UCIE COUNTY. F~A... First Federal Sav. & Loan Assn. _ ~ - _ VFn~_~~p of Fort P,~ - ; - = - 164'2 ~ - y 0 ~ . '68 ~EB 13 . ~ 10:59 ` ~ • ~ -~'~~~.~et CLERKJ~~RCUIT COU ~ BOOK1rlU PAGE~435 RT f.. ~ _ ~ _ _ - - - - ~ ~-~~3 - ~ - _ ;