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HomeMy WebLinkAbout0929- •` ~ '~, . 9. To play and continuously keep on the buildings now or hereafter situate on said land and on all equipment and personalty covered by this mortg- agti with all premiums thereon paid In full, firs insurance in the usual standard policy form, in a sum approved by the MORTGAGEE, and windstorm insurance In the uswl standard policy form, in a sum approved by the MORTGAGEE, in such company or companies as tM MORTGAGEE may dlrectl and all fire and windstorm insurance policies on any of said buildings, any interest therein or part thereof, in the aggregate sum aforesaid w N txcess thereof, shall cattain the usual standard mortgagee clause or such other clause as the Mortgagee may require, making the loss under said poll- ! des, each and every, payable ro said MORTGAGEE as its interest may appear, and each and every such policy shall be promptly au:gned and delivered to ' any Mld by said MORTGAGEE as further security to said mortgage debt, and, not leu than ten (10) days in advance of the expiration of each polity, to de• liver to said MORTGAGEE a renewal thereof, together with a receipt for the premium of such renewal; and there shall be no fire or windstorm inwrance plaosd on any of said buildings, any interest therein or part thereof, unleu in the form and with the lou payable as aforesaid; and in tM event any wm of money becomes payable antler such policy or policies said MORTGAGEE shall have the option to receive and apply the same on account of the indebted- tsets secured hereby or ro permit said MORTGAGORS to receive and use it or any part thereof fa other purposes, without th:reby waiving or rmpair- ing any puny, lien or right under or by virtw of this mortgage; and in the event said MORTGAGORS shall for any reason fail to keep the said premises w inwred, or fail ro deliver promptly any of said policies of insurance fo said MORTGAGEE, or fail promptly to pay fully any premium tlteref8r a in any respetl fail ro perform, discharge, execute, effect, complete, comply with and abide by this covenant, o. any part hereof, said MORTGAGEE may place and pay for such irtsurartte or any part thereof without waiving a affactir-g any option, lien, equity, o- right under a by virtw of this Mortgage, and the i full amount of each and every such payment shall be immediately due and payable and shalt bear interest from the date thereof until paid at the rata of nine per centum per annun and together with such interest shall be secured by the !fen of this mortgage. 4. To permit, commit a suffer rto waste, impairment a deterioration of said property or any part thereof. S. To pay all and singular the costs, durges and expenses, including a reasonable attorney i fee and costs of abstracts of title, incurred or paid at any time by said MORTGAGEE, because or in the event of the failure on the part of the said MORTGAGOR to duly, promptly and fully perform, discharge. exevete, affect, complete, comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and this mortgage any or either, and said costs, chuges and expenses, each and every, shall be immediately due and payable; whether or not there be notice de~ mend, attempt to collect a suit pending; and the full amount of each and every such payment shall bear interest from the date thereof until paid at tht rate of nine per centum per amtum; and all said costs, charges and expenses incurred or paid, together with such interest, shall be severed by the lien of this mortgage. d. That (a) in the event of any breach of this Mortgage or default on the part of the MORTGAGOR, a (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 severa!y become due and payable, without demand or notice, or (t) to the event each and every the stipulations, agreements, conditions and covenanter of said promissory note and this mortgage any a either are not ~ulY, promptly and fully performed, discharged, executed, effected, completed, complied with and abided Sy, then in either a any such event the said erg gregate wm mentioned in said promissory note then remaining unpaid, with interest accrued, and all moneys secured hereby, shall become dw and pay able forthwith, or thereafter, at the option of said MORTGAGEE, as fully and completely as it all of the said sums of money were originally stipulated ro be paid ort such day, anything in said promissory note or in this Mortgage to the contrary notwithstanding; and thereupon or thereafter at the option of said MORTGAGEE, without notice or demand, wit at law or in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby had matured prior to iri institution. 7. That in the event that at the beginning of or at any time pending any suit upon this Mortgage, or ro foreclose it, or to reform it, or to enforce payment of any claims hereunder, said MORTGAGEE shall apply to the Court having jurisdiction thereof for the appointment of a Receiver, wch Court shall forthwith appoint a receiver of said mortgaged property all and singular, including all and singular the income, profits, iuues and revenws from whatever source derived, eadti and every of which, it being expressly understood, is hereby mortgaged as if specifically set forth and described in the granting and habe+dum clauses hereof, and such Receiver shall have all the broad and effective functions 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 adequacy a inadegwcy of the valor of the property mortgaged or to the solvency or insolvency of said MORTGAGOR or the defendants, and that such rents, profiri, income, iuues and revenues shall be applied by such Receiver according to the lim or equity of said MORTGAGEE and the practice of such Court. 8. To duly, promptly and fully perform, discharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, conditions and covenants in said prarissory note and this mortgage set forth. 9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the MORTGAGEE, iri successor and auigns, may, without notice to the MORTGAOR, deal with such succeuor a successor in interest with reference fo this _ mortgage aril the debt hereby secured in the same manner as with Mortgagor without in any way vitiating or discharging the Mortgagori liability here- under or upon the debt hereby severed. No sale of the premises hereby mortgaged and no forbearance on the part of the MORTGAGEE or ita successors or auigns and rw extension of the time for the payment of the debt hereby secured given by the MORTGAGE or its succeuors or auigns, titall operate ro release, discharge, modify chargge err affect the original liability of the MORTGAGOR herein, either in whole or in part. T0. It h specifically agreed that time is of the essence of this contract and that no waiver of any obligation hereunder or 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. f 1. In addition to the foregoing monthly payments of prirx'pal and interest required by the promissory no!e secured hereby, mortgagor covenants and agrees to pay to mortgagee with each monthly payment an addir;onal sum estimated by mortgagee to be equal to I/ 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 tarried on the improvements situate on the above described premises. C-Premiums ort such mortgage guaranty insurance as mortgagee shall from tame to ti~re deem fit to carry ort the loan secured hereby. Mortgagee shall from time to time notify mortgagor in writing of the amount due and payable hereunder and such wm 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 such amount. Such sums shall be applied by mortgagee toward the payment of real property taxes, inwrance premiums, and mortgage gwranty inswance premiums. IN WITNESS WHEREOF, the said MORTGAGOR has hereunto set his hand and seal tits day a, err first aforesaid. Sig ed, Se ledfa~d delivered in the presence of: ~ . ~ 1~}5. ,_ . q s e an n ~--n STATE OF - JE R Y SS. COUNTY OF )KERC)iR Before rtte personally appeared Charles E . Ke nd a 11 ,r,d Helen K. Kendall his wife, to me well known and known to me to be the indiridwls described in and who executed the foregoing instrument, and acknowledged before me that they executed the same for the purposes tFterein expressed. And the said Helen IC . Kendall wife of the said Charles ~. Kendall upon a separate and private examination by the taken separate and apart from her said husband, acknowledged to and before me that she executed said instrument freely and volun• tally and without any compulsion, constraint, apprehension, or fear of or from her said husband. WITNESS my hand and official seal this ~ day of ~- A. 0. 19 6~ i «r ..tea. : - - - - ~Iptary Public in and for the State of~r~~CYEIV JGKSE _ My Commission expires: Return To-. Fiat federal Savings ~ Loan Association ~~ ~1i ~ ~w ~~ Of Fort Pierce. ~~~~~~ Fort Pierce- Florida FILED AND RECD ED -i(l ~-£~ : r`~'- ST. LUCIE COUNTY, FLA. -~ ~ •~••`""•"'••.,S _. This Instrument Prepared By J. J. Chastain 181 x•70 a •' I " First Federal Savings b loan Association ~ ~ ~% = ~ ~ ~ '; ~ . of Fort Pierce ~ Florida ~9 a`~C ~ 3 P~ ~2. 44 • ~ ,-. .- . Checked By RO,~i? FOlTRt,S ~ ~ c'C-:`~.- CLERK CIRCUIT COURT ~~ ~ ~ "~ cf ;_