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HomeMy WebLinkAbout2685S. To place and continuously keep on tM buildings now a Mreafter situate on said land and on all equipment and personally covered by this ntortg~ age, with all premiurM thereon paid in full, fin inswanu in the uswl standard policy form, to a sum approved by IM !MORTGAGEE, and windstorm insurance in tM uswl standard policy form, b a sum approved by tM MORTGAGEE, >n such company or companies as the MORTGAGEE may dirMt and all fire and w'udstorm iraurante pdicws on any of said buildings. any interest therein or part thereof, in tM aggregate wm aforesaid a in exceu thereof, ttMll contain tFte taual standard mortgagee clause a such other clause as the Mortgagee may require, making the lou under said polF ties, each and every, payable ro said MORTGAGEE as its interest may appear. and each and Query such policy shall be promptly assigned and delivered to any held by said MORTGAGEE ss further security to said mortgage debt, and, not less tMn ten (10) days in advarxe of the expirat'an of each policy, ro de• liar ro said MORTGAGEE a renewal tMreof, together with • receipt for the premium of such renewal; aril there shall be ro fire or windstorm inswanu placed on any of said buildings, any Interest therein a parr thereof, unku in the form and with tM bas payable as aforesaid; and in tM event any sum - of money becomes payable under such policy or Policies said MORTGAGEE shall haw the option to rateive and apply the same on account of the irdebted• ness secured hereby a ro permit said MORTGAGORS ro receive and use it a any part thereof for other purposes. without thereb/ waiving or impair- ing any equity, lien or right under or by virtw of the morsgaget and in tM event said MORTGAGORS shall for any reason fail ro keep the said premises so insured, a fall ro deliver promptly any of said policies of inwranq ro said MORTGAGEE, or fail promptly ro pay fully any premium therefor or in any rasped Fail ro perfornq diathsrge, execute, effect, complete, comply with and abide by this Covenant, o- any part hereof, said MORTGAGEE may play and pay for such irgwaras or any part thereof without waiving or affecting any option, Ikn, equity, a right ur-der or by virtw of this Mortgage, and the full amount of each and every such payment shall be immediately dw and payable and sMll bear interest from the date thereof until paid at tM rate of nine per certtum per artrwm and together with such interest shall be secured by the lien of this mortgage. . - 1. To permit, commit a suffer no waste, iretp+irment or deterioration of said property or any psA thereof. S. To pay all and singular the costs, charges and expsrues. ir-clud"u+g a reasonable attorney's tae and costs of abstracts of title, incurred or paid at any time by said MORTGAGEE, because or in the event of the failvro an the part of the said MORTGAGOR to duly, promptly and fully perform, discharges exeMe, effect, complete, comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and this mortgage any a either, and said costs, charges and expenses, each and every, shall be imrnedli~ely due and payable; whether a not there be ratite ds mend, attempt ro collect or wit pendingt and the full amount of each and every such payment shall bear interest from the date thereof until paid at the rare of nine per gntum per annum; and all said costs, charges and expenses irttxrrred or paid, together with such interest, sMll be secured by tM lien of the mortgage. 6. That (a) in the event of any breach of this Mortgage a default on the part of the MORTGAGOR, a (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 (ra in the event each and every the stipulations„ agreements, conditions and covenants of said promissory note and this mortgage any or either are not iuly, promptly and fully performed, discharged, executed, effected. completed, complied with and abided by, then in either ar any such event IIN said ag gregate sum mentbned in said promissory note then remaining unpaid, with interest acuued, and all moneys secured hereby, shall become due and pay- able forthwith, or thereafter, at the opYan of said MORTGAGEE, as fully and completely as if all of the said wms of money were orginally stipulated to be paid on such day, anything in said promissory note or in the Mortgage to the contrary notwithstanding; and thereupon or thereafter at the option of said MORTGAGEE, withow ratite or demand, suit at law a in equity, therefore a thereafter begun, may be prosecuted as if all mone~-s sacurad hereby had matured prior to its institution. 7. That in the event that at the beginning of or at any time pending any wit upon this Mortgage, or ro foreclose it, a to reform it, or to enforce payment of any claims hereunder, said MORTGAGEE sMll apply to the Court having iurisdician 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, issues and revenues from whatever source derived, eacl- 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 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 ro the adequsgr or inadequacy of the value of the property mortgaged or to the sohrengl or insolvprscy of said MORTGAGOR a 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 stipulations, agreements, conditions and covenants in said promissory rate and this mortgage set forth. 9. That in the event the ownership of the mortgaged premises, a a+ry part thereof, becomes vested in a person other than the MORTGAGOR, tM MORTGAGEE, its successors and auigru, may. without notice to the MORTGAOR, deal with suet successor a successor in interest with reference ro this mortgage and the debt hereby secured in the same manner as with Mortgagor without in any way vitiating or discharging the Mortgagor' liability here- under orupon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the part of the MORTGAGEE or its successor or assigns and no exter+s"ion of the time for the payment of the debt hereby secured given by the MORTGAGE'. or its successors or assigns, 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 specifically agreed that time is of the essence of this contract and that no waiver of any obl'gatan hereunder a of the obligaYan 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 note secured hereby, mortgagor covenanh and sprees 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 desuibed real estates B-Premiums on fire and windstorm inwrance ss herein required to be carried on the improvemer+ts situate on the above desuibed premises. C-Premiums on such mortgage gwranty insurance as mortgagee shall from time to time deem fit to carry on the ban secured hereby. Mortgagee shall from time to time notify mortgagor in writing of the amount due and payable hereunder and such wm shall thereupon be due end 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 irourance premiums. ' IN WITNESS EOF, the said MORTGAGOR has hereunto set his hand and seal the day and year fir oresaid. a sd in tfle presence of: A rS.a~ fLa~ STATE OF FLORIDA $ta ir1lC~@ ~ COUNTY OF _ -- Before mf personally appesr+cd RObQ>rt Ba Addles and $dld21 C • /+d8~f his wife, to me well known and known to me ro be the indivdwb desuibed fn and who executed the foregoiirg instrument, and before me that they executed the same for the purposes therein expressed. And the si ~' ~_~ Cs wife of the said RObfftlt Se Add1s upon a separate and private examination by me taken separate and apart from her said husband, aduawledged ro and before rrie that she executed said irotrumenf freely and volun- tarily and without any oompulian, constraint, appreMroiorA..a[ fear of or from her said husband. WITNESS my hand and official seal this ~6 day of t A. D. 19_~ FILEO ANO RECORO ST, I.UCIE CCUN Flr~. Notary Pub' in a for the fe of Fbrida at Large ' ~ RcCORD VERIFIED Mir ion expires: ,~~ ~~ /9~/ Return To: ZQ3(t55 I'lOtily Stale OE Ronda ~ (~ First Federal Savings a Loan Association yv9 vVlliiJ - - - Of Fort Pierce. SEP 16 '~' ~°'~~ ~ ~"°. 6,1971 I I • ~ ,`~ sttllt tttt~t~ ; 1MMlIfIICelRltiti~~f+^ilbGfi . FPrt Pierce, Fbrida • ~~~ ti A j '' r +-- t' ~ ~ ..• This Instrument Prepared By .>Fo~iR~.Ck~i~lia0o z -1..:;;~I . j ~ ~ ~ " f `'~~ First Federal Savings b loan Association ;,y ' O' ~•~~`~ z~:'c . : -~ ' of Fort Pierces F1oZ add '':~ Z O '• ~ ~ /~ J. '=~~'~o': _ .~ Checked By ~ry ~•+ _ c~. ~ RT 600K `. ~ ~' ~