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HomeMy WebLinkAbout2682 , . r i , - • - - 3. To place and continuously keep on tlu~ buitdinps now or here+f~tr Ntvaq o~ said Iand and on all equipmenY and personally covered by this matg- ~ sgs, with ~II premiums thereon pa~d in full, fire insurance in the uiual uandard policy form, in a sum ap{xoved by the MORtGAGEE, a~d windstam , insv~~nce in the usual s~andard policy form, in a sum ~pproved by the MORTGAGEE, in such company or companies as ~he MORTGAGEE en~y ~ directt end all fire and windstorm ins~rance policiet on any of said build~n9s, any interest therein or pa?t thereof, in the aggre9ate tum ~faessid oe ~ in excess Iheraof, shall contai~ the ~sual sfandard mutgagee clauss or such o~her clauss as the Mortgagee may reqvire, making the tou u~der said po~F cies, each a~d evcry, psyable ro said MORTGACaEE as its inte~est may ~ppear, and each and every avch poticy shall be promptly su.gned and delivered to ~ any held by said MORiGAGEE as fu~ther security to said mortyage debt, a~d, not leu than ten (10) days in advance of ~he expiration of exh polity, to da ~ live? to ~aid MORTGAGEE a renewal thereof, logether with a receipt for the premium of such renewal; and there shall be no fire or w~ndstorm insurance plsced ot~ any of said bvildings, any interest therein or part thereof, unlesa in the form a~ with the lou payable as afwesaid; and in 1Fw evee~t any svm of money beconxs payable vnder such policy a policies aid MORTGAGEE shall havs ~he opt~on ro receive and apply ~he same a? account of the indebted- ness secured he~eby w ro permit s~id MORTGAGORS to teteive and uu it ot any part thereof 1or othc~ purposes, wi?hovt th.reb~ waiving or ~mpair- ing any eqvity, lien w rght under or by virtue of this mo:tgage; and in the event wid MORTGAGORS shall fa any reaso~ fail to keep the said premise~ so insu~ed, or fail to deliver promptly ~ny of said politiea of insurante to said MORTGAGEE, ot fail promptly to pay fully a~y premium therefa or in any respect fail to {xrfwm, discharge, execule, effect, complete, comply wi~h and abide by this covenanL w any par~ hereof, said MORTGAGEE may place and pay fw s~Yh insurance or any part thercoi without waiving or affecting any option, lien, equity, w right under a by vi~tue of this Matgage, and tht fult amount of each and every s~ch payment shall be immediately dua and payable and shall bear i~terest trom the date thereof until paid at tM rate ol nine per centum per annum and to~ether with such interest shall be secured by the lien of thi~ mortgage. 4. To permit, commit o? suffer rw wute, impsirment w deterioration of said p~operty or any part thereof. " 5. To psy all and singulsr the costs, charges and expenses, including a reasonable attaney i fee and cos~s of abstracts of title, incurred or psid at any time by said MORTGAG:E, because or in the evem of the failure on the part of the said MORiGAGOR to duly, promptly and fvlly perform, d~scharge, ezecute, e(fect, complete, comply with and ab:de by each and every the stipulatio~s, agreements, conditions, and covenants o( said promissory note and this mortgage any or e~ther, and sa~d costs, charges and expenses, each and every, shall be immediately due and payabte; whe~her w not there be notice da mand, attempt to mtlect or suit pending; and the full amount of each and every such payment shall bear interes~ from the date thereof vntil p~id at the rate of nine per centum per an~ium; and all said costs, tharges and expenses intvrted a paid, together w~th such i~terest, shall be setured by the lien of this mortysge. 6. That (a) in the event of any breach of ihis Nlortgage or default on the pa?t o( the MORTGAGOR, or (b) in the evenT any of satd suma of money herein referred to be not promptly and fully paid within thirty (30) days ~ext aftcr the same seve?ally become due and payable, without demand or notite, or (c) in the event each and every the atipulations, agreemeNS, cond~tions and covenants of sa~d promissory note and th~s mortgage any w either are nol iuly, promptly and fully perfwmed, d;uharged, execvted, effected, completed, complied with and abided 5y, then in either w any such event the said ag gregate sum mentioned in said promissory note then remaining unpa~d, with interesl accrued, and ali moneys secured hereby, shall betome due a~d psy- able fwthwith, or therealter, at the option of said MORTGAGEE, as fully and complefely as ii all of the said sums of money were aigi~ally stipulated to be paid on such day, anything in sa:d promiuay note w in this Mortgage to the contrary notwithstanding; and thereupon w thereaiter at the option of said MORTGAGEE, without oohce w demand, suit at law or in equity, therefwe w thereafter begun, may be prosecuted as if all moneys secured he~eby had matured pnor to its institution. 7. That in the evem that at the beginning of or at any time pendirg any suit upon this N4ortgage, or to foreclose it, a to refwm it, or to enfwce payment of any claims herevnder, said MORTGAGEE shall apply to the Court having jurisd~ction Ihereof for the appointmenl of a Receive?, suth Court shall forthwith appoint a receiver of said mortgaged prooerty all and singular, includ~ng all and singular the income, p~ofits, issues and revenues from whate~er ! source derived, each and every of which, it being expressly understood, is hereby mortgaged as if spetifically set fwth and deuribed in ihe granting and habendum clauses hereof, and such Receiver shall have all the broad and effective funct~ons and powers in anywise entrusted by a Cou?t to a Receiver, and s~ch appointment shall be made by such Court as an admitted equity and a maner of absolute right to said MORTG~?GEE, and without refererxe to the ~ adequacy w inadequacy of the value of the property mwtgaged or to the so~vency or insolvency o( said MORiGAGOR w the defendants, and that such rents, profits, income, iuues and revenues shall be applied by such Receiver according to the lien ot equity o( said MORTGAGEE and the prattice of such Gourt. 8. To duly, promptly and fully perform, discharge, execute, ef(ect, complete, comply with and abide by each and every the stipulatiwu, agreements, conditions and covenants ~n said promisswy note and this mortgage set forth. 9. That in the event tF~e ownership of the mortgaged premises, a any part thereof, becomes vested i~ a person other than the RIIORTGAGOR, the ~ MORTGAGEE, its successws and assigns, may, wi~hout notice to the MORTGAOR, deal with such succeuor a successor in interest with reference to this ' mortgage and the debt hereby secured in the same manner as with Mortgagor without in any way vitiating or diuharging ihe Mortgagors' liability here- under or upo~ the debt hereby secured. No sale of the premises hereby mortgaged and no forbeara~ce on the parl of the MORTGAGEE or its successors ; or assigns and no extension of the time for the payment of the debt hereby secured given by the MORTGAGEE or its successws or auigns, shall operate j to release, discharge, rtadify change or alfecf the original liability of the MORTGAGOR herein, either in whole or in part. f 10. It is specificatly agreed that time is of the essence of this contract and that no waiver of any obligat'an hereunder or of the obligaYan se- cured hereby shall at any time therea(ter be hefd to be a waiver of the terms hereof or of the instrument secured herby. 11. In add~tio~ to the fo~ego:ng monthly paymants of princ"pal and interest required by the prom~ssory note secured hereby, mortgagar covenants and agrees to pay to mo:tgagee with each monthly payrnenl an addirional sum estimated by mortgagee to be equal to 1/12 of the annual cost of the follow- ing: A-All real property taxes levied w assessed against the above described real estate. 6-Premiu~ns on fire and windstorm insurar.ce as herein requ~red to be carried on the improveme~ts situate on the above described premises. C-Premiums on such mortgage guaranty ir.surance as mortgagee shall from t~me to time deem fit to ca:ry on the loan secured hereby. ; Mortgagee shafl from time to time notify mortgagor in writing of the amount due aod payable hereundrr and such sum shall thereupon be due and ~ payable on the due date of the next monthly payment and each successive month thereafter ur.tit mortgagee shall notify mortgagor of a change in such arrount. Such su~ns sF.ail be applied by mortgagee toward the payment of real property taxes, insurance p?em;ums, and mortgage gvaranty insurance ~ premivms. IN WITNESS WHEREOF. the said MORTGAGOR has hereunto set his hand and seal the day and year first aforesaid_ , 5' Sealpd and elivered ' hs esence of: v? ~i?7/J'~i.~c/./it~U~~(•'V (~aq ~ ~ an -~-GJ Seaq ± aq ~ STATE OF FLORIDA ~ . ! SS. COUNTY OF S* - L-ucrip e~ra.e ~ personally appeared Donald G. BYewer .~,d POlly BI@14@! his wife, to me well known and kiwwn to me to be the individuals described in and who executed the foregang instrument, and acknowledged before me that they executed the same for tF~e purpoaes - therein expressed. And the wid Pnl 7~B,Z,pggr wife of the uid DOIIald Arevret upon a sepa~ate sod priv~te E examination by me taken separote and apart from her said husband, acknowledged to and befwe me that she exetuted ssid instrumeM freely a~d voluo- tarily and witho~t sny compulsion, constraint, spprehension, g.fear of or from her said husband. . WITNE55 my hand and official seal this ~ day of C@ er A. 0. 19_ft~ ~ ~ . Notary Public in and for the State of Florida at large ~ My Commiu'wn expires: Return To: ~ Fint Federal Saviogs b loan Assotiation MOTaRY PU8lIC. STATE OF FLORIDA AT lAR6F ~ Of Fort P~erce. M Y COMMISSION EXPIRES 1lOY. 8, 1 g7y EOff Pierce, Flwida { BONDFD .MRO~~OH . HEO ~Y. OYCCT~~_NOR4T ~~~`''f FILEO ANQ R . X j ECORDED ` : , pj''.,,. ~;i. LJCI~ CQUfVTY. F' ~ - L~. - ~R • ::(r-~~^~ This Instrument Prepared By y Y: ' ~ C• First Federal Savings 8 Loan Associafion 1`~'3(32 ' of Fort Pierce =c~ ' :r' ~ V Q _ ~~8 ~ 7 1 ~ - N.i~ : O7 , Checked By R. 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