Loading...
HomeMy WebLinkAbout1831t s• ~` i 3. To place and continuously keep on the buildings now o- hereafter situate on said land and on all equ)pmsnt and personally covered by this mort¢ age, with all premiums thereon paid in full, fire insurance in the usual standard policy form, in a sum approved by the MORTGAGEE, and windstorm inswance in tM uswl standard policy form, in a sum approved by the MORTGAGEE, in such company or companies as the MORTGAGEE may direly and all fin artd windsrorm insurance policies on any of said buildings any interest therein or parr (hereof, in the aggregate wm aforesaid a M excess thereof, shah contain the usual standard mortgagee clause a such other clause as the Mortgagee may require, making the loss under said poli• c'ces, each 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 MW by said MORTGAGEE as further security to said mortgage debt, and, not less than ten (10) days in advance of the expiration of each policy, to de- liver ro said MORTGAGEE a renewal thereof, together with a receipt for the premium of such renewal; and there shall be no firs or windstorm inswartce placed on any of said buildings, any interest therein a part thereof, unless in the form and with the loss payable ss aforesaid; and to the event any sum of money becomes payable under such policy a policies said MORTGAGEE shall have the option to receive and apply the same on account of the indebted• Hess second hereby a ro permit said MORTGAGORS ro receive and use it p any part thereof fa other purposes, without tharebr waiving or impair- irg any equity, lien or right under or by virtue of this mortgage; and in the event said MORTGAGORS shall for any reason fail to keep the said premises so inswed, a fall ro deliver promptly any of said policies of inaurance ro said MORTGAGEE, or fail promptly to pay fully any premium therefor a in any respell fail b perform, discharge, execute, effect, complete, comply with and abide by this covenant, a any part hereof, said MORTGAGEE may place and pay far such inwrance a any part thereof without waiving or affecting any option, Ikn, equity, or right under or by virtw of this Mortgage, and the full amount of each and every such payment shalt be immediately dw and payable and shall bear interest from the date thereof until paid at the rate of nine par centum per annum and together with such interest shall be secured. by the lien of this mortgage. 1. To permit, commit or suffer no waste, impairment or deterioration of said property or any part thereof. S. To pay all and singular the costs, charges and expenses, including a reasonable attorney i fee and cosri of abstracts of title, incurred or paid at any time by said MORTGAGEE, because a 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 covenanri of said promissory note and this mortgage any a either, and said costs, charges and expenses, each and every, shall be immediately due and payable; whether or rat there be notice do- mend, attempt fo colktl 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 artrwm; and all said costs, 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 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 (t) in the event each and every the stipulations, agreements, conditions and covenants of said promissory note and this mortgage any p either are not iuly, promptly and fully performed, discharged, executed, effected, completed, complied with and abided tiy, 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 forthwit, or thxreafter, at the option of said MORTGAGEE, as fully and canpletely 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 convary notwithstanding; and thereupon or thereafter at the option of said MORTGAGEE, withow notice a 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 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, including all and singular the income, profits, issues and revenues from whatever souru derived, each and every of which, it being expressly understood, is hereby mortgaged as if specifically set forth and desvibed in the granting and habendwn 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 edequsty or inadegwgr of the value of the property mortgaged or to the solvency or insolvency of said MORTGAGOR or the defendants, and that such renri, profiri, income, issues and revenues shall be applied by such Receiver according to the (ier- or equity of said MORTGAGEE and the practice of such Court. - ~ ~ ~ . 8. To duly, promptly and fully perform~d'rsclwrge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, condittoro and covenants in said promissory 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 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 )fere• under or upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the part of the MORTGAGEE or its successors or ass)gtu and no extension of the time for the payment of the debt hereby secured given by the MORTGAGEE or iri successors or assigns, shall operate to release, distltarge, modify change or affect the original liability of the MORTGAGOR herein, either in whole or in part. 10. It is specifically agreed that time is of the essence of this contract and that no waiver of any obligatron 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. 11. In addition to the foregoing monthly payments of primpal and interest required by the promissory note secured hereby, mortgagor covenants and agrees to pay to mortgagee with each monthly payment an addiranal 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. B-Premiums on fire and windstorm insurance as herein required to be carried on the im~nvements 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 the loan secured hereby. Mortgagee shall from time to time ratify 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 wms shall be applied by mortgagee toward the payment of real property taxes, insurance premiums, and mortgage gwranty insurance IN WITNESS WHEREOF, the said MORTG as he nto set his hand and seal the day and year first aforesaid. sled and I)v in the pr AIVU R€GOR©ED`! ~ r f -i ~1 M fj ~ s ~T:-L CIE COUNTY, FLA. j//l 11 ~ ~ q • - E CORiV~~E~I~l~a7 ~~ (Seaq ' P 2 PM 1.17 t5eal, TATE OF FLORIDA ~~ SS. coulvTy of St L,uc~e "O~r ~ 0 T,RAS Before me personally appeared ~~~E..Id~l I and Rachel 8. $i~a0i!1S his wife, to me well known and known to me to be the individwb described in and who executed the foregoing instrument, and acknowledged before me that they executed the same for the purposes therein expressed And the sa' Rachel B • Simiaon$ wife of the said Wll a .~• Saasoiiss upon a separate and prftrate examinsYan by me taken separate and apart from her said husband, acknowledged to and before me that she executed said instrument freely and volun• cavity and without any compulsion, constraint, apprehension,~a fear of or from her said husband. WITNESS my hand and official seal this -3D.u+ day of Aualut ~ A. D. 19-fig Ifotery Public in grid for the State of flotilla at Large My Commission expires: Return To: First Federal Savings 3 Loan Association Of Fort Pierce. Fort Pierce, Florida This Instrument Prepared By ohn First Federal Savings Er loan Associat on of Fort Pierces Florif3a .t„ ``sNssllg111/prrrrrr, r' . t-~ Checked By~ • 'I~~r-''kantut~ t`'.,-_ . Not+ry Ptflric, State of Forida at large >1r cootaicsio. Expiry Sant. 23, 1969 e•aaN h Atawira. fie t Gtasef G.. d00K 179 PAGE ~~~ 4 ~~ cf ~'