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HomeMy WebLinkAbout1170 3. To place and continuously keep on tM buildings now or hereafter situate on s+id land and on all equipment and peaonally covered by this mortg• age, with all premiums tMreon paid in full, fire insurance in tM uwal standard policy form, in, a sum approved by tM MORTGAGEE, and windstorm inswutce In /M uswl star-d+rd policy form, in a sum approved by tM MORTGAGEE, in such company or companies as the MORTGAGEE may directt and all fire and windstorm insurance policies on +t+Y of said buildings, any interest therein or part thereof, in tM aggreg+te sum aforesaid a In excew thereof, atoll contain tM uswl stand+rd mortgagee clause or such otMr clause as tM Mortgagee may require, making 1M loss under sad poli• ties, each and every, payable ro said MORTGAGEE as its interest may appear, and each and every such policy shall be promptly aw:grted and delivered to any told by aid MORTGAGEE a further security to said mortgage debt, and, rat kw tMn ten (IO) days in advance of tM expiration of e+ch policy, to de• liver to said MORTGAGEE a renewal thereof, togetMr with a receipt for tM premium of such renewal; and there shall be no fire or windstorm insurance placed on any of said buildings, eny interest therein a part thereof, unless In tM form and with tM loss P+Yable as aforeaid; and in tM event any sum of money becomes payable under such policy or policies said MORTGAGEE shall Mw tM option to receive and apply tM same ort account of tM indebted• new secured Mreby a ro permit aid MORTGAGORS to receive and use it a any part thereof for other purposes, without thsreb/ w+ivi~g or unpair- ing any equity, lien or right under or by virtw of this mortgage; and in tM event said MORTGAGORS shall for any reason fail to keep 1M aid premises so insured, a fail to deliver promptly any of said policies of insurance to said MORTGAGEE, a fail promptly to pay fully any premium therefor or in any respect fail ro perform, dischuge, execute, effect, complete, comply with and abide by this covenant, or any part Mreof, said MORTGAGEE may place and pay for such insurartct or any part thereof without waiving or affecting any option. lien, equity. or right under or by virtw of this Mortgage, and tM full amount of each and every such payment sMll be imrr-ediately dw and p+ysbls and shall bear interest from tM date thereof until paid at tM rate of nine pa centum per annum +nd together with such interest shall be secured by tM 1'ter- of this mortgage. 1. To permit, oorrtndt or wffer no waste, impairment or deterioration of said property a any part thereof. r S. To pay all and singular tM costs, chuges and expenses, inclvdirg a reasonable attorney's fee +nd costs of abstracts of title, incurred or paid at any time by said MORTGAGEE, beause or in tM event of tM failure on tM part of tM said MORTGAGOR to duly, promptly and fully perform, dischargR execute, effect, complete, comply with and abide by each and every tM stipulations, +greements, 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 dw and payable; whetM- or not there be notice der mend, attempt ro collect a wit pending; and tM full amount of each and wary such payment shall bear interest from tM date thereof until p+id at tM rate of nine per centum per antwm; and all said vests, charges and expenses incurred or paid, together with such interest, atoll be secured by tM lien of this mortgage. 6. TMt (a) fn tM went of aAy breech of this Mortgage a default ort the part of tM MORTGAGOR, a (b) in tM 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 dw and payable, without demand or notice, or (~ in 1M event each and every 1M stipulaYtora, agreements, condiYtons and covenants of said promissory note and this mortgage any or either are rat iuly, promptly and fully performed, discharged, executed, effected, completed, complied with and abided by, then in either a any such evert tM said ag• gregate vein mentioned in said promissory note then remaining unpaid, with interest acaued, and all moneys secured Mreby, shall become dw and pay able forthwith, or thereafter, at tM option of said MORTGAGEE, as fully and completely as if all of the said sums of money were originally stipulated to be paid on such day, anything in said promissory note or in this Mortgage to 1M contrary notwithstanding; and thereupon or thereafter at tM option of said MORTGAGEE, without notice or demand, wit at law or in equity, tMrefore a thereafter begun, may be prosecuted as if aU moneys secured hereby had matured par to its irotitution. 7. That in tM event that at tM beginning of or at any time pending any wit upon this Mortgage, or to foreclose if, o- to reform lt, or to enforce payment of any claims hereunder, said MORTGAGEE shall apply to tM Court having jurisdiction thereof for tM appointment of a Receiver, such Court shall forthwith appoint a receiver of said mortgaged property all and singular, including all and singular the income, profits, issues and revenues from whatever saurce derived, each and every of which, it being expressly understood, is Mreby mortgaged as if specifically set forth end desuibed in tM granting and habendum clauses Mreof, and such Receiver shall have all 1M 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 ad~titted equity and a matter of absolute right to said MORTGAGEE, and without reference fo 1M adequacy a irtsdegvacy of tM valor of tM property mortgaged or to the sotvertcy or insolvency of said MORTGAGOR or tM defendants, and that such rents, profits, income, issws and revenues shall be applied by such Receiver accorditg.to 1M lien a 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 tM stipulations, agreements, conditiora and covenants in said promissory note and this mortgage set froth. 9. That in tM event tM ownership of tM mortgaged premises. a any Part thereof, becomes vested in a person other than the MORTGAGOR, tM MORTGAGEE, its successors and awigns, may, without notice to the MORTGAOR, deal with such successor or successor in interest with reference to this mortgage and tM debt hereby secured in tM same manner as with Mortgagor without in any way vitiating a discharging tM Mortgagors' liability Mre- under orupon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on 1M part of the MORTGAGEE or its successor's or assigns and rto extension of tM time for the payment of the debt hereby secwed given by tM MORTGAGEE or its successors or awigns, shall operate to release, discharge, modify change or affect 1M original liability of tM MORTGAGOR Mrein, either in whole or in part. 10. It is specifically agreed that time is of tM essence of this contract and that no waiver of any obligation Mreunder or of tM obligation se- cured hereby shall at any time there her be held to be a waiver of tM terms hereof or of the instrument secured herby. 1 I. In addition to the foregoing monthly payments of print 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 annwl 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 desvibed premises. C-Premiums on such mortgage guaranty insurance as mortgagee shall from time to time deem fit to carry on tM loan secured hereby. Mortgagee shall from time to time notify mortgagor in writing of tM amount due and payable Mreunder and such win shall thereupon be dw and payable on tM due date of the next monthly payment and each successive month thereafter until gsgee shall notify mortgagor of a change i such amount. Such wins shall be applied by mortgagee toward the payment of real property taxes, ra a premiums, and mortgage guaranty ranee premiums. WITNESS WHEREOF, the id MORTGAGOR has hereunto set his hand and seal the day a err fiat afor~id. ~ ;~ Sealed and dliy~re~itt the presence of: / ~f/l,/~'y/~/ ' ~/1'~I_~4_ STATE OF ~''tu COUNTY OF ~ f)efore me personally appeared Michafal S~1eti3~ly -- and DOri8 Sh@@hY his wife, to me well known and known to me to be tM irxf'rvidwb desuibed in and who executed tM foregang instrwrtent, and acknowledged before ma that they executed tM same for tM purposes therein expressed. And tM at DOrif3 Sheerly wife of the said ~fiehael $htil~y -upon • rroparate and private examinaYan by tree taken separate and span from her said husband, ackrawfedged to and before me that sM executed std irotrument freely and volun- tarily and without any compulsion, constraint, appreM ion,/or fear of or from her aid husband. WITNESS ttty hand and official sal thia~ll -day of Jill A. D. 19~_ ~/ _ Federal ~i0~i '6 loan ~Awociatiort • Of. Fo/t iterte. ' ~y_ Fort pier~e,,.florida ~,. ,._ i,.~ ~, :. ".. " .:. • '~~/.tE•~t ~~r~.. • '~. :-.Tb+e'~nstrufnent Prepared By Thoaas A. Driscoll First F~dt~rat `Savings ~ Loan Association " opfQFort Pierce ~ Florida Checked B !~h tM Cornmiwion expires: r"""b~ a'~'~~l O /~ L/7~ FILED `A1V~~REtO'~d~0 ST. LUCIE COUNTY. FLA: RECORD VtRIFIED Y 80~~.79 ~~~~ 181`7 '69 AUG 18 PN 3:07 ~C ROG~ t'OITRAS CLERK C CUIT COURT; ~~ {,,~ __