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HomeMy WebLinkAbout0357S, To plea and contirwrxnly keep on the buildings now or hereafter situate on said land and on all equipment and personally covered by this matg• age. with all premiums thereon paid in full, fire insurance in the usual standard policy form, in a sum approved by the .MORTGAGEE, and windstorm fraurancs in tM vswl standard policy form, in a sum approved by the MORTGAGEE, in such company a companies as fete MORTGAGEE may direct' and all fin and windstorm inwrance policiss on any of said buildings, any interest therein or part thereof, in t)-e aggregate sum aforesaid a In sxress thsreof, tthall contain the uwal standard mortgagee clause or such other clause as the Mortgagee may require, making the lou under said pole cias, sack and every, payable to said MORTGAGEE as its interest may appear, and each and every such policy shall bs promptly assigned and delivered to any Mb by said MORTGAGEE as further security to said mortgage debt, and, not leu than ten (10) days in advance of the expiration of each policy, to ds• liver f0 said MORTGAGEE a renewal thereof, together with a receipt fa the premium of such renewal; .and there shall be no firs a windstorm insurance placed on any of said brrildirgs, any interest therein or part thereof, unteu in the form and with the lou payable as aforesaid; and in 1M event any sum of matey becomes payable under such policy a policiss said MORTGAGEE shall have the option to receive and apply the same on account of the indebted Mss ttecwed hereby a to permit said MORTGAGORS to receivs and use it o- any part thereof for other purposes, without thsrebr waiving or impair- ing any equity, lien or right under or by virtue of this mortgage; and in the event said MORTGAGORS shall {or any reason fail to keep the said premises so inwred, or fail !O deliver promptly any of said policies of insurance to said MORTGAGEE, or fail promptly to pay fully any premium therefor or in any respitM tail b perform, dischuge, execute, effect, complete, comply with and abide by this covenant, a any part hereof, said MORTGAGEE may play and pay for such insurance or any part thereof without waiving or affecting any option, lien, equity, or right under a by virtue of this Mortgage, and the full amount of each and ovary such payment shall be immediately due and payable and shall bear interest from the date thereof until paid at the rate of nine par centvm per annum and together with such imerest shall be secured by the lien of this mortgage. 1. To permit, commit or suffer no waste, impairment or deterioration of said property or any part thereof. S. To pay all and singular the costs, charges and expenses, including a reasonable attorney i fee and costs of abstracts of title, incurred or paid at any time by said MORTGAGEE, because a in the event of the failure on the part of the said MORTGAGOR to duly, promptly and fully perform, discharge, extcutb effect, tompkts, comply with and orbide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and this mortgage any or either, and said costs, charges and expenses, each and every, shall be immediately due and payable; whether a not there be notice de mend, attempt to colkd a wit pending] and the full amount of each and every such payment shall bear interest from the date thereof until paid at the rate of rune per centum per annum; and all said costs, charges and expenses incurred w paid, together with such interest, shall bs secured by the lien of this mortgage. 6. That (a) in the event of any breach of this Mortgage or defaul- on tlr_ part of the MORTGAGOR, or (b) in the event any of said sums of money herein referred to be not promptly and fully paid within thirty (30) days next after the same severally become due and payable, witfrout demand or notice, or (ra in the event each and every the stipulations, agreements, conditions and covenants of said promissory note and this mortgage any or either are not duly, promptly and fully performed, discharged, executed, effected, completed, complied with and abided 5t', then in either or any such event the said ag• gregate sum mentioned in said promiuory note then remaining unpaid, with interest accrued, and all moneys secured hereby, shall become due and pore able forthwith, or thereafter, at the option of said MORTGAGEE, as fully and completely as i( all of the said sums of money were aiginaily stipulated to be paid on such day, anything in said promissory note a in this Mortgage to the contrary notwithstanding; and thereupon or thereafter at the optiat of said MORTGAGEE, without notice a demand, suit at law or in equity, therefore a thereafter begun, may be prosecuted as 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 this Mortgage, or to foreclose it, or to reform it, or to enforp payment of any claims hereunder, said MORTGAGEE shall apply to the Court having jurisd,ction thereof for the appointment of a Receiver, such Court shall forthwith appoint a receiver of said mortgaged property all and singular, intiud,ng all and singular the income, profits, iuues and revenues from whatever source derived, each and every of which, it being expressly understood, is hereby mortgaged as if specifically set forth and desuibed in the granting and habendum clauses hereof, and such Receiver shall have all the broad and effective tune+,ons and powers in anywise entrusted by a Court to a Receiver, and such appointment shall be made by such Court as an admitted equity and a matter of absolute right to said MORTGAGEE, and without reference to the adequsgr or insdequagr of the value of the property mortgaged or to the solvency or insolvency of said MORTGAGOR a the defendants, and that such rents, profits, incase, loves and revenues shall be applied by such Receiver accord,ng to the lien or equity of said MORTGAGEE and the practice of such Caxt. 8. To duly, promptly and fully perform, discMrge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, conditions and covenants in said promissory note and this mortgage set fath_ 9. That in the event the ownership of the mortgaged premises, a any part thereof, becomes vested in a person other than the MORTGAGOR, the MORTGAGEE, its successors and auigns, may, without notice to the MORTGAOR, deal with such successor a successor in interest with reference to this mortgege and the debt hereby secured in the same manner as with Mortgagor without in any way vitiating a discharging the Mortgagors' liability here- under orupon the debt hereby secured. No sate of the premises hereby mortgaged and no forbearance on the part of the MORTGAGEE or its successors or auigns and no extens"tore of the time for the payment of the debt hereby secured given by the MORTGAGE or its successors or assigns, shall operate to tokens, discharge, modify change a affect the original liability of the MORTGAGOR herein, either in whok a in part. 10. If is specifically agreed that time is of the essence of this contract and that no waiver of any obligation hereunder a of the obligation se- cured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the instrument secured herby. 11. In addition to the foregoing monthly payments of princ'pal. and interest required by the promissory no!e secured hereby, mortgagor covenants and agrees to pay to mortgagee with each monthly payment an additional 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 herein required to be carried on the improvements situate on the above desuibed premises. C-Premiums on wch mortgage guaranty insurance as mortgagee shall from time to time deem fit to carry on the ban secured hereby. Mortgagee shall from time to time notify mortgagor in writing of the amount due and payable hereunder and such sum shall thereupon be due and payable on the due date of the next monthly payment and each successive month thereafter until mortgagee shall notify mortgagor of a change in wch amount. Such sums sF.all be applied by mortgagee toward the payment of real property taxes, insurance premiums, and mortgage guaranty inwrance premiums. ' IN WITNESS WHERE F, the said MO AGOR has hereunto set his hand and seal the der year first afore ' S' led an li in presence of: , n n i~r Qd L:. ~ (seen ~n STATE OF FLORIDA St. Lucie ~ couNTr of Before me personally appeared DBVld Le Rinker and Marshier S. Rinker his wife, to me well known and known to me to be the individuals described fn and who executed the foregofng instrument, and acknowledged before me that they executed the cams for the ptrrpatxts therein expressed. And the sal Marshier Sa Rinker David L. Rinkez ~,' 't ~ „ores wife of tM said ~po(~• ~W-Jq a~ Pri, examinstron by me taken separate and apart from her said husband, acknowledged to and before me that she executed said_.w+s~t~foent, fTq[y'apd;Vplyls- tarily and without any compulsion, constraint, apprehension, ~ fear of or from her said husband. 2~ WITNESS my hand and official seal this ~ ~" day of - ~ •_ - ' = s-sue ~. D~ 9~: Notary Public in and for the State " P Jbfi4a at La My Commission expires: `~. •' (~ Return To: /~ -+:~ '!1'l• ~' .... _ ' ~ ' First Federal Savings ii Loan Association Of fort Pierce. Fort Pierce, Florida /a . 3 -~/ RILED AND RECORDED ST, IUCIE COUNTY, FIA. This Instrument Prepared By John W. Collins R~:CORD VERIFIED First Federal Savings 8 Loan Association 181~5~ of Fort Pierce , Florfda C y ~ 9 ~ 3~ '69 AUv Checked By RQ~ E R i•OITRaS ~~tK CIRCUIT COURT 600K~79 PAGE l f~ PD_