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HomeMy WebLinkAbout17263. To place and continuously keep on tM buildings raw a hereaher situate on said land and on all equipment and personally covered by this morlg• age, with all premiums thereon paid in full. firs Insurance in tM vswl standard policy form, in • sum approved by tM MORTGAGEE, and windstorm irawar-ce in tM usual standard polity fam, In a sum approved by tM MORTGAGEE, in such company or companies as the MORTGAGEE may dinette end all fka and windstorm inwrana policies on +^Y of aid buildings, any intarat therein or part thereof, in tM aggrcgaq wm aforeaid or M excess thereof, sMll contain tM uswl stutdud mortgagee clause or such other clause as tM Mortgagee may require, making tM lou under said poll. ties, each erect OVery, payable ro aid MORTGAGEE as in interest may appear, and each and every such Policy shall be promptly au:gned and delivered to any MW by said MORTGAGEE as further severity to said mortgage debt. and, not lea than ten (10) days in advance of tM expiratan of each policy, ro dr liver ro said MORTGAGEE a renewal tl+ereof, together with a receipt for tM premium of such renewal] aid there shall be no fire or windstorm insurance placed en any of said buiWirgs, any interest therein or part thereof, unlace to tM form and with IM loss payable as afasaide and in the event any wm of money becomes payable under such policy or policies aid MORTGAGEE shall Mw tM option to receive and apply 1M same on account of tM indebted. rteu secured hereby or to permit said MORTGAGORS to receive and use h or any part thereof for other purposes, without th:reb/ waiving or impair- ing any puny, lien or right under or by virlw of this mortgagee and in the avert said MORTGAGORS shall for any reason fail ro keep tM said premises so insured, a fail b deliver promptly any of said policies of irtwrarKa ro said MORTGAGEE, a fail promptly to pay fully any premium therefor or in any respect fail b perform„ dixhuge, execute, effes, complete, comply with and abide by this covenant, or any part hereof, said MORTGAGEE may place and pay for such insurance or any part tMreof without waiving a affecting any optiat, lien, equity. or right under or by virtw of this Mortgage, and tM full amount of each and every such payment ttMll be imrncdiately due and payable and sMll bear interest from tM date thereof until paid at tM rate of nine per centum per annum and together with such interest sMll be secured by tM 1'tert of this mortgage. I. To permit, commit err wffer no waste, impairment or deterioration of said property a any part thereof. S. To pay all and singular tM costs, charge. erect expenses, including a reasonable attorney's fee and costs of abstracts of title, incurred or paid at any time by aid MORTGAGEE, because or ip tM swot of tM failure on tM part of tM said MORTGAGOR ro duly, promptly and fully perform, discharge execute, effect, complete, comply with and abide by each and every tM stipulations, agreements, conditions, and eovcnants of said promissory rate and this mortgage any or either; and aid costs, charges and expenses, each and every, shall be invnediately due and payable; whether or rat there be notice de• mend, attempt to tolkct or suit pending; and tM full amount of each and every such payment shall bear interest from tM date thereof until paid a1 tM rate of nine per centum per annum; and all aid costs, charges and expenses incurred or paid, together with such interest, shall bt secured by tM lien of this mortgage. Q fleet (a) in tM event of any breach of this Mortgage or default on tM part of tM MORTGAGOR, or (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 a nairca, or (ra in tM event each and every /M stipulations, sgreerrwrtts, conditions end covenants of aid promissory note and this mortgage any or either are not iuly, promptly and fully performed, discharged, executed, effected, tompkted, complied with and abided by, then in either or any such ewM tM aid ag• gregate wm mentioned in said promissory note then remaining unpaid, with interest accrued, and all morays secured hereby, 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 rate or in this Morlgage to tM contrary notwithstanding; and thereupon or thereafter at tM optan of said MORTGAGEE, without notice a demand, suit at law or in equity, therefore or thereafter begun, may be prosecuted ss if all moneys severed hereby had matwed prior to its institution. 7. That in tM event that at tM beginning of or at any time pending any wit upon this Mortgage, or ro foreclose it, or to reform it, or to enforce payment of soy claims hereunder, aid MORTGAGEE sMll apply to the Court having ryrisdipion thereof for the 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, iswes and revenues from whatever source derived, each and every of which, it being expressly understood, ik,txreby mortgaged as if specifically-sal forth and described in tM granting and habendum clauses hereof, and such Receiver shall have all tM broad and effective functions and powers in anywise entrusted by a Court to a Receiver, and such appointment shall be made by such Cowl as an admitted equity end a matter of absolute right to aid MORTGAGEE, and without reference to tM adequacy or inadequagr of iM value of 1M property mortgaged or to the solvency a insolvency of aid MORTGAGOR or the defendants, and that such rents, profits, income, issues and revenues sMll be applied by such Receiver according to tM lien or equity of aid MORTGAGEE and the praci~ce of such Court. 0. To duly, promptly and fully perform, discharge, execute, effect, complete, comply with and abide by each and every tM stipulations, agreements, conditiorns and covenants in aid promissory note and this mortgage set forth. 9. That in the event tM ownership of tM mortgaged premises, or any part thereof, becomes vested in • person other than tM MORTGAGOR, tM MORTGAGEE, its successors and assigns, may, without notice to the MORTGAOR, deal with such successor a successor in interest with reference to this mortgage and the debt hereby secured in tM same manner as with Mortgagor without in any way vitiating or discharging the Mortgagors' liability Mre• under or upon the debt hereby secured. No ale of the premises hereby mortgaged and no forbearance on the part of the MORTGAGEE a its successors or sugns and nn extenian of the time for tM payment of tM debt hereby secured given by tM MORTGAGEE or its successors or assigns, shall operate to release; discharge, modify charge or affect tM original I'wbility of tM MORTGAGOR Mrein, either in whole or in put. 10. It is specifically agreed that time is of the essence of this contras and that no waiver of any obligaian hereunder or of tM obligafan se- cured hereby shall at any time thereafter be Mld to be a waiver of tM terms hereof a of tM instrument secured herby. 11. In additio:t to the foregoing monthly .payments of prirtt'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 112 of the annual cost of the follow- ing: A-All real property taxes kvied or assessed agairuct the above described real estate. 0-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 tM loan secured hereby. Mortgagee shall frcm time to time notify mortgagor in writing of the amount due and payable hereunder and such sum shall thereupon be due and paysbk 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 properly taxes, insurance premiums, and mortgage guaranty inwrarxe premiums. IN WITNESS WHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and year f' t foreaid. Signed, Seakd and delivered in tM presence of: 3 STATE OF FLORIDA SS. COVI,ffy OF St. Lucie D 0 rseaq f)efore rra personally appeared Richard K KayGP~ and Jcella Z. Kaves his wife, to me well known and krawn to me to be tM individwb desuibed in and who executed tM foregoing instrument, and acknowledged before me that they executed the ame for tM purposes therein expressed. And tM ai ' Joella Kaves _ >, , - wife of tM aid Richard K. Keyes .sefitifapl.al_'rid prhrata uP~ examination by me taken separate and apart from her aid husband, acknowledged ro and before me that sM executed sajd ; . i{rwteaf-lily ~e0d _vohm rarity and without any compulsion, constraint, apprehension, c~r feu of or from her aid husband. ~•~ " t~~ j = WITNESS my Mnd and official seal this ~y day of Auclust - y ~ D:LP.~ _ _ ~-- ~ 4' a /. 7 Notary Publk in and for tbi Steti of~lorida at•-Ling( `~ Return To- + :.. ~ C. _ . ST, LUCIE COUNTY. fLA."`. •,~~•. ' '~ First Federal Savings b lose Association R::CORb VERIFIED ~ ~ ~• Of Fort Pierce. ~• ~ ' fort Pierce, florida This Instrument Prepared By Richard K. Kaves First Federal Savings 8r Loan Association • ~ of Fort Pierce , Florida Checked By ~ - 1823'7 - .. '69 BUG 2 8 PM 2: 5 9 ~ ~~~ O~L~: r 01TR:•S CLERK CIRCUIT COURT - BUOKlr~ti7 PACE~r~~4 - _ , .: