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HomeMy WebLinkAbout1266... 3. To place and continuously keep on the buildings now a hereafter situate on said land and on all equipment and personally covered by this mortg• +n wants tnltM uswl staendard ~acY forlm,fin ansumnapproved by thetaMORTGAGEE, finmsuch acompany~oreeompanhesMasRltMGMORTGAGErE tmsy direct; and all fin and windstorm iruurarut policies on any of said buildings, any interest therein or part thereof, in the aggregate sum aforesaid a in txctu thereof, shall contain the usual standard mortgagee clause a such other clause as the Mortgages may require, making the lou under said pole ties, each and every. payable to said MORTGAGEE as its interest may appear, and eacA and every such policy shall be promptly assigned and delivered to any IteW by said MORTGAGEE as further security to said mortgage debt, and, not leu than ten (10) days in advancs of the expiration of each polity, to de- liver to aid MORTGAGEE a renewal thereof, together with a receipt for the premium of such renewal; and there shall be no fire or windstorm insurance placed on any of aid bvildirgs, any interest therein a part thereof, vnleu in the form and with the lou payable as aforeaid; and in the event any sum of money becomes payable under such policy or policies said MORTGAGEE shall have the option to receive and apply the ame on account of the indebted- ness secured hereby w M permit said MORTGAGORS to receive and use it q any part thereof for other purposes, without th_reby waiving or impair- ing any equity, lien a right under or by virtue of this mortgage; and in the event aid MORTGAGORS shall Eor any reason fail to keep the aid premises so insured, a fail W deliver promptly any of said policies of insurance to aid MORTGAGEE, or fail promptly to pay fully any premium tl-erefor or in any respM fail to perform, dischuge, execute, effect, complete, comply with and abide by this covenant, or any part hereof, said MORTGAGEE may plate and pay for such insurance or any part thereof without waiving or affecting any option, lien, equity, w right under or by virtue of this Mortgage, and the full amoun- of tech and every such payment shall be immediately due and payable and shall bear interest from the date thereof until paid at the rate o1 nine per centum pa artnum and togetlur with such interest shall be secured by the lien of this mortgage. 1. To permit, commit w suffer no waste, impairment or deteraration of said property or any part thereof. S. To pay all and singular the costs, charges and expenses, including a reasonable attorney's fee and costs of abstrada 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. execute, effect, complete, comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and this mortgage ar-y or either, and aid costs, charges and expenses, each and every, shall be immediately due and payable; whether a not there be notice de- mand, attempt to collect or 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 nine per centum per am~vm; and all said costs, charges and expenses incurred a paid, together with such interest, shall be secured by the lien of this mortgage. b. That (a) in tFtor event of any breach of this Mortgagor a default on the part of the MORTGAGOR, a (b) in the event any of aid 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, without demand or notice, or (~ to 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, dixharged, executed, effected, completed, complied with and abided by, then in either or any such event the said ag- gregate wm mentioned in said promissory note then remaining unpaid, with interest accrued, and all moneys secured hereby, shall become due and pay- able forthwith, or thereafter, at the 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 the contrary notwithstanding; and thereupon a thereafter at the option of said MORTGAGEE, without notice a demand, suit at law or in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby had matured prior to in institution. 7. That in fl+e 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 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, irxlud~ng all and singular the income, profits, iuues and revenues from whatever source derived, ead- and every of which, it being expreuly understood, is hereby mortgaged as if specifically set forth and desuibed in the granting and haberdum 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 or inadequacy of the valve of the property mortgaged or to the solvency a insolvency of said MORTGAGOR or the defendants, and that such rents, profin, income, iuues and revenues shall be applied by such Receiver according to the lien a equity of said MORTGAGEE and the practice of such Court. 8. To duly, promptly and fully perform, dixharge, execute, effect, complete, comply with and abide by each and every the stipulatons, agreements, conditons and covenann in said promissory rate 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, its successors and assigns, may, without notice to the MORTGAOR, deal with such succeuor 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 dixharging the Mortgagors' liability here- under or upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the part of the MORTGAGEE or in successors or assigra and ra extension of the time for the payment of the debt hereby secured given by the MORTGAGE'_ or its successors a suigns, shall operate to release, discharge, modify change or affect the original liability of the MORTGAGOR herein, either in whole or in part. 10. It is specif'twlly agreed that time is of the essence of this contract and that ra waiver of any obligation hereunder or of the obligaYton 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 print'pal and interest required by the promissory ra!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 dexribed real estate. B-Premiums on fire and windstorm insurance as herein required to be carried on the improvements situate on the above described premises. C-Premiums on such mortgage guaranty insurance as mortgagee shall from time 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 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, insurance premiums, and mortgage guaranty insurance premiums. IN WITNESS WHEREOF, the said MORi GOR has hereunto set his hand and seal the day and year first aforesaid. Sig Sealed and ve t esence of: STATE OF FEORIDA 1 i} SS. COUNTY OF St- T_tlGi_t? an aQ tSea~ Before me personally appeared CT ~~o Ma 7 e+n 7 m Ra rlco r and Marv Mari p RarkPt .his wife, to me well known and krawn to me to be the individwb described in and who executed the foregoing instrument, and acknowledged before rrte that they executed the same for the purposes therein expressed. And the ai ' Mary Morels Barker wife of the aid Clyde Malcolm Barker up~,e• ~ ~ftd,private examination by me taken separate and apart from her aid husband, acknowledged to and before me that she executed said irnllyre~f ty-!~volur~ tarily and without any compulsion, constraint, apprehension, orAfesr of or from her aid husband. ,. •~~;'•. "ciG WITNESS my hand and official seal this ~s % day of - `' ' ' D•`19 Return To: ~?~~, First Federal Savings fL loan Association Of Fort Pierce. Fort Pierce, Florida Notary Public in and for the State F a~ LarQt M Cwt~i~e~~: F~ ~~ • -~ ~ ~3 ST. LUCIE COUN'fY.~• '. '•` Q / 7~ RECORD VERIFIED- '':~ This Instrument Prepared By Richard K. Keyes First Federal Savings ~ loan Association o~fpFort Pierce, Florida Checked By ~+ 182~~'~ ; '69 AUG 19 PM 3~: 9 ~~ ROGEi? r ITRAS CLERK CIRCUIT COUAT; 8001(~~ ~L~-!3v ~` -~., t ,.~. •~: ... c ;~~` - - - ~f ~^:..~~ -