Loading...
HomeMy WebLinkAbout0931_ ... ~. To place and continuously keep on the buildings now a Mreafter situate on said land and on all equipment and personally covered by this ntortg~ ergs, with all premiums thereon paid in full, fire insurance in the usual standard policy form, in a sum approved by the MORTGAGEE, and windstorm insuranp in tM uswl standard policy form, in a sum approved by tl-s MORTGAGEE, in such company or companies ss the MORTGAGEE may dMect; and all fin and windstorm inswance policies on any of said buildings, any interest therein or part thereof, In 1M aggregate sum aforesaid a In excess thereof, shall contain the usual standard mortgages clause or such other Nause as the Mortgagee may require, making the loss under said poli- cies, oath and every, payable ro said MORTGAGEE as its interest may appear, and each and every such policy shall be promptly assigned and delivered to any Mld by said MORTGAGEE as further security to said mortgage dcbt, and, not less tMn ten (101 days in advance of the expiration of each policy, to de- liver braid MORTGAGEE a renewal thereof, together with a receipt for the premium of such renewal; and there shall be no fire or windstorm insurance plated on any of said buildings, any intcrest therein or part thereof, unless in the form and with the_ loss payable as aforesaid; and in the event any sum of money becornss payable valor such policy a policies said MORTGAGEE shall have the option to receive and apply the same on account of the indebted- Mss secured hereby p b permit said MORTGAGORS ro receive and use it a any part thereof for other purposes, v.ithout tharebr .vaivi~rg or rnrpair- ing any egt-iry, lion 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 so insured, or fail b deliver promptly any of said policies of insurance to said MORTGAGEE, or fail promptly to pay fully any premium therefor a in any respect fail b perform, dixharge, execute, effect, complete, comply with and abide by this covenant, or any part hereof, said MORTGAGEE may place and pay for such Irtwrants or any part thereof without waiving or affecting any option, lien, equity, or right under or by virtue of this Mortgage, and the full amount of each and every such payment shall be immediately due and payable and shall bear interest from the date thereof until paid at the rate of nine pat centum per annum and together with such interest shalt be secured by the lien of this mortgage. I. To permit, commit a wffer no waste, impairment or deterioration of said property or any part thereof. 5. To pay all and singular the costs, charges and expenses, including a reasonable attorney i fee and costs of abstracts of title, incurred a paid at any time by said MORTGAGEE, because p in ttre event of the failure on the part of the said MORTGAGOR to duly, promptly and fully perform, dischargR execute, effect, 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, charges and expenses, each and every, shall be immediately due and payable; whether a not there be notice dr mend, attempt to tolled or wit pending; and the full amount of each and every such payment shall bear interest from the date thereof until paid at fire rate of nine per centum per annum; and all said rnsts, charges and expenses incurred or paid, together with such interest, shall be secured by the lien of this mortgage. 6. That {a) in the event of any breach of this Mortgage or default on the part of the MORTGAGOR, or (b) in the event any of said sums of money hersirt referred to be not promptly and fully paid within thirty (30) days next after the same xveratly become due and payable, without demand o- notice, or (c) 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 by, then in either a any such event the said ag~ gregats awn mentioned in said promissory note then remaining unpaid, with interest accrued, and ail nwrseys secured hereby, shall become duo and pay abk forthwith, or thereafter, at the option of said MORTGAGEE, as sully and completely as if all of the said sums of money were orginally 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 option of said MORTGAGEE, without notice or demand, suit at law or in equity, therefore or thaeaher 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 a at any time pending any suit upon this Mortgage, o- to 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, such Court shall forthwith appoint a receiver of said mortgaged property all and singular, includ~rg all and singular the income, profits, issues 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 funct,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 adequacy or inadequacy of the valor of the property mortgaged or to the so+vency or insolvency of said MORTGAGOR or the defendants, and that such rents, profits, income, issues and revenues shall be applied by such Receiver according to the lien 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 stipulaYror-s, agreements, conditions and covenants in said promissory note and this mortgage set forth. 9. TMt in the event the .ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the MORTGAGEE, its successors and assigns, may, without notice to the MORTGAOR, deal with such successor or 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 discharging the Mortgagors' liability here- under orupon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance ort the part of the MORTGAGEE or its successors or assgns and rto extension of the time for the payment of the debt hereby secured given by the MORTGAGEE or its successors or assigns, shall operate ro release, discharge, modify change or affect the original IiabiGty of the MORTGAGOR herein, either in whole or in part. 10. If is specifically agreed that time is of the essence of this contract and that no waiver o! any obligation hereunder or of the obligation se- cwad i-,artby 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 note 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. 8-Premiums on fire and windstorm inwrartce as herein required to be carried on the improveme:sts situate on the above described premises. C-Premiums on such mortgage guaranty insurance as mortgagee shall from tame to time deem fit to carry on the loan secured hereby. Mortgagee shall from time to time notify mortgagor in writing of the amount due and payable hereunder and such sum shat! 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, insurance premiums, and mortgage guaranty insurance premiums. IN WITNESS WFjfl(EOF, the said MORTGAGOR has hereunto set his hand and seal the day and year first aforesaid. ~ igrted, 5 algid e(~ delivered in the presence of: / i Hess err es en a {Sea9 r '~ a a a esea4 /Seaq STATE OF )41~6KiCdYEL~' R SEY MBRCBR ~ couNTy of Before ms personally appeared Charles F . Kendall and Clara H. Kendall his wife, to me well known and known tplo be the i~vidwb desuibed in and who executed the foregoing instrument, and acknowledged before me that they executed the sarrt~,fotRrTyosq therein expressed. And the said Clara H. Kendall -;'nL_..rr•~., C • wife of rlte ,aid Charles F . Kendall - examinaYan by me taken separate and apart from Iter said husband, acknowledged to and before me that she executed said tarily and without any compulsion, constraint, apprehension, fear of or from her said husband. ' WITNESS my hand and official seal thi. `F day of '~ pdr~-17~ IstturrttM u. -~" ~~'. Notary Public in end for the State of My Commission expires: Return To: First l°eder.l Savings a loan Auociation Of Fort Pierce. Fort Pierce, Florida ~~ ~~ w~,,~,,w~,~ FILED AND RECORDED ST, LUCIE COUNTY,~FLA. This Instrument Prepared By J. i). Chastain R%CORn VERIFIEQ First Federal Savings Er loan Florida -L81.~~1 of Fort Pierce , ~qp '69 AUG 13 PM !2: y5 Checked By old I•tOv~R, f~ OITR~4S ~](C~LERK CIRCUIT CO,~'~T: ~ • e~K~ 1 ate, ~ a~ pale ,end prfviHa .;elf. ~tti "4~' = i- Q D}'41~ c _ ~. ~ V Sr J ' ~., --~-..+--,.s j+~,;:. cf Y - _ ®~,