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HomeMy WebLinkAbout2218 . . 3. To place ~nd continuously keep on the build~ngs now w hereafter ~ituate on sa~d land and on sil equipment and penon~lly covered by this mo?t~ ys, with all premiunts ~hereon pa~d i~ full, fire insurance ~n the usual standsrd policy form, ~n a iwn approved by the MORTGAGEE, and wind~torm insurance in tM ~su~l standard policy form, i~ ~ sum ~pproved by the MORTGAGEE, i~ iuth company ot companie~ as the MORTGAGEE may dir~dt +nd all fi~e and windstorm insurance policies on any of iaid buildinys, any interest therei~ or psrt lhereof, in tM ~ggreya~e tum sfa~said a In ~xtest thereo(, sMll contain the usual standard ma~gagee clause or such othe~ d~uss as tM Matyagee msy ~cquire, m+kiny the loss unde~ ts~d poli~ cies, each and every. payable to said MORTGAGEE ai ~ts int~rest may ~ppN?, and each ar+d every such poucy shall be promp~ly su.gncd and delivered to ~ny IxW by said MORiGAGEE fur~he~ uc~rity to ssid mortyage debt, and, nol leu than fen (10) dayt in sdvance of the expiration of each pol~cy, to ds- liwr to said MORTGAGEE a re~+ewal thereof, logether with a receipt for the premium of iuch renewal; and there shall be no f~re w winds~o~m insurance plac~d on ~ny of said b~ildinys, ~ny interest therein a parr thereof, u~leu in the form' and with the los~ p+yable as afo?esaid; and in the event any sum of money becoma~ payable vnder such policy a policies uia MORTGAGEE shall have the option ro receive and apply the s+me on ~ccoun~ 01 the indebted- neu tecvred hereby ot to permit ssid MORTGAGORS to reteive and use it a any pa~~ thereof for onc~? purposes, w~ihout th-reb~ waiving o. ~mpair- iry any eqv~ry, lien or riyht under o~ by virtue of this mortyage; and in tM event sa~d MORTGAGORS shall fa ~ny reason (ail to keep ~he ia~d premises so insured, w fail to deliver promplly any of said policies of inturants to said MORTGAGEE, or fail promptly fo pay iully ~ny premium therefor or i~ any reipecr fail ro perfocm, discharge, execute, eifect, tomplete, comply with ~nd ~bide by this covenant, a ~ny part hereof, said MORTGAGEE may pl~ce and ~ pay fa suth insurants w any part thereof without w~lving or affecting any optan, lien, equity, w ~igM vnde~ or by virtw of thii Mort~age, and the full ~mount of each ~nd eYery such payment sF+~ll be immediately dw and payable and shall bear interesl from tM date thereof until paid a1 tM rate of nirN per centum per ~nn~m and together with sucA interest shali be securrd by the lien of thit mortg~ge. To permit, commit or suffer no waste, impsirmcnt or dete~ioration of said property or any psrt thereoi. 5. To pay all snd iingulu ths•costs, charyes and expenus, includiny a reasonsble attwney i fee snd costs of absuacts of title, inc~rred or paid at any time by iaid MORTGAGfE, because or in tF~e event of the failure a? the part of the ssid MORTGAGOR to duly, promptly snd fully pe~(orm, d~xharge, exet~te, effed, complete, mmpty with and ab~de by each and every the stipulat~ons, agreemems, conditions, snd covenants of said p~omissory note and thia mortgs~e a~y or either, and sa~d cosn, chsrges and experKts, each and evny, shall be immediately dve and psyable; whether p not there be notice da mand, attempt to to11M or suit pend~ng; and the full amouM of each and every such payment shall bear interest from the dste thereoi until p~id ~t the rate of nine per centum per annum; and all said cdsts, charges and expenses incurred or paid, togethtr w~th suth interest, shall be secured by 1M lien of thi~ mortpspe. Q Thst (a) in the eve~t of any brcach of this Mortgsge o~ default on the part of the MORTGAGOR, o? (b) in the event any of sald sums of money herein referred to be ~+ot promptly and fully paid within thirty (30) days nex~ after ~he same severatly become due and payable, withovt demand w notice, or in the event eath snd every the stipufations, agre~ments, cond7tions and tovenants of sa~d promiswry tate and th~s mortgsge ~ny w eithcr ue nol ~uly, prompNy and fully perfwmed, d~uharged, execured, eifectcd, completed, complied with and abided by, then in either w any such event the said ag preg~M sum men~aned in said promissory note then remaining vnpaid, with imerest accrued, and a11 moneyi secured Fxreby, shall become dw snd pay- able fathwith, w thereafter, at the option of said MORTGAGEE, as fully and comple?ely as if sll of the said s~ms of money were wginally stipuleted to be pa~d on such day, anything in w~d prom7ssory note or in this Mortgsge to the contrary no~withstanding; and thereupon w thereafter st the opt~on of said MORTGAGEE, without not~ce w demand, suit at law w in equity, therefwe or thereafter begun, may be prosecuted as if all moneys secured he~eby had maWred prior to irs instiruriw~. 7. That in the eve~t thal at the bsginning of w at any time pending aoy avit upon this Mortgsge, w to fweclose it, or fo refwm it, w to enforce payment of any claims hereunder, said MORTGAGEE shall apply to the Court having jur~sd~ction thereoi fa the appo~ntme~t of ~ Receiver, such CouN shall fortFiwith sppoint a receiver of said mo?tgaged ptoperty all and singular, includ~ng all and singular the income, p~ofys, issues snd revenues from whatever tource derived, each and every of whrch, it bcirg expressty undcrstood, is hereby mortgaged as if specifically set fwth sod dewibed in the qian~ing and habendvm tlauses hereof, and svch Reteiver shall have all the broad and effettive funcnons and powers in anywise entrusted by a Court to a Rcteiver, and such appointment shall be made by such Court ai an admitted equity and a matter of absotute right to said NtQRTC`iAGEE, and wifhout reference to the edequacy w i~adequacy of the value of ~he property mortgaged or to the wtvency w insolvency o1 said MORTGAGOR o~ the defendants, and ~hat such rents, profits, income, issues and revenues shall be applied by such Receiver accordiny to the Iien w equity of wid MORTGAGEE and tix practice of such Coutt. 8. To dul•:, promptly and fully perfwm, discharge, execute, effed, mmplete, comply with and abide by each and every the stipulations, agreements, conditans and covenants in said promisswy r+ote and this morlgage cet fath. 9. Thaf in the event the ownership of the mortgaged premises, w any part thereof, becomea vested in a perwn other than the MORTGAGOR, the MORTGAGEE, its successws and augns, may, without ~otite to the MORTGAOR, deal with such successa or successw in interesl with refcrence to this ~ mwtgsge and the debt hereby secured in the same manrxr as with Mortgagor w~thout in any way vitiating w discharging the Mortgagors' liability herr { under or upon the debt hereby secured. No sale of the premises hereby mortgaged and ~o forbearance on the part of the MORTGAGEE w its successors ~ or assigns and no extension of the time fw the paymen~ of the debt hereby secured given by the MORTGAGEE or its successws w auigns, shatl operate to release, d~schsrge, modify change or affect the original liab~l~ty of the MORTGAGOR herein, either in whote or in part. 10. tt is specifically agrced that time is of the essence of this contract and that no waiver of any obligation hrreunder or of the oblgaYan st a.red lxreby sh~ll at any time tF~ereafter be held to 6e a waiver of the terms hereof or of the instrument setured herby. 11. In add~tion ro the fwego:ng monthly paymen~s of princ'pDl and interest required by the promissory nore secured hereby, mortgagar covenants and agrees to pay to mortgagee wilh each monthly payment an add~rional sum est~mated by mortgagee to be equa) to 1/12 of the annual cost of the follow- in9: A-All real property ta:es lev~ed or assessed aga~ost fhe above descri5ed real estate. B-Premiums on fire and windstorm insurance as herein requ~red to lx carried on the improveme~ts situate on the above described premises. C-Premiums on such mortgage_guaranty insurar,ce as mortgagee shall from t~me to time :deern fit to carry on the loan secured hereby_ ~~i Mortgagee shall from rime to rime notify mortgagor in writ7ng of the amount due and payable hcreunder and such sum shatl thereupoo be due and payable on the due date of the next monthly payment a~d each successive month thereafter urtil morigagee sFwll notify mortgagor of a change in such amount. Such sums shail be applied by mwtgagee toward the payment of real property ta:es, insvrance prem:ums, and mortgage guaranty insurance prtmivms. ~ IN WIiNE55 W E EOF, the~said M RTGAGOR has hereunto set his hand and seal the day and year first aforesaid. ~ Siyned, Sesle a d ~ d" presence of: ~ 7 ~ ~ Seal) ~ A ~ an ' ~ (Seaq (Seap STATE OF FIORIDA ~ St. Lucie ~ COUNTY OF Befwe me personally appeared Rober t ld . Ba i ley and LOt t 1@ Rai 1ev his wife, to me welt known and known fo me to be the individuals described in and who executed the fwegoing instrument, and acknowiedged before me that they executed the same fw the purpose~ therein expressed. And ths said LOttle [3a11Qy wife o+ the said Robert 4l~. Bd11Qy , upon a sepa.ate and privats e:sminaYan by me taken separate and apart from her said husband, atknowledged to and before me tFwt she executed said instrument freely and vo{un- tarily and withouf any compulsion, constraim, apprehensian, w fear of or from her said hosband. WITNE55 my hand and official seal this- Ist day of MaL h ' A. D. 19 68 ~ o . r~S' o ~ Notary Public in snd for the State of Florida at larye , My Commission expires: ~ , ~ . . ~ Return To: ~ fint Fedenl Savings 3~oan Au«~at~oo FILEO AND RECORDED ~ Of fort P~erce_ $T. ~UC~F ~~OU~iTY. FL.A. MOiARY PUElIC, SiATE:QF ,F• ~ Fort Pierce, Flor7da ~ . ; • . . - ~ c • • • MY COMPNfISSt~ON`RXP~~RwS~lOA A~- • ~~''11 oONDED 7HR~j~ ~~p ~ .~V~~~O OIE~E~rOR's.. ~ ' ~ This instrument prea~red 5y '6B ~.~1p I AI~1 I Z . t ~ First Fede~al ~~v. & La~n A;;n. •:•_;.~titi ~ of F erce . : : ~i : „ . BY ~ l ~i ~~;Y ~i~~U1T COURT ~ , ~ ~ ~r : ~ $OOK~ I~ PACE~~,~ ~ ~ , ' \ ~ - . : . , _ _ _ - - - _ - - ; ~ = ~'°,.5 - ~r ~ - _ _ - . .