Loading...
HomeMy WebLinkAbout2772 3. To place and continuously keep on the buildings now a Isereafttr situate on said land and ors all equipment and personally covered by this mortg• age, with all premiums thereon paid in full, firs insurance in the usual standard policy form, in a sum approved by the MORTGAGEE, and windstorm insurance In tM usual standard policy form, in a sum approved by tM MORTGAGEE, in such company or companies as tlse MORTGAGEE may direct; and all firs and windstorm insurance policies on any. of said buildings, any interest tlsercin or part thereof, in the aggregate wm aforesaid a in excess thereof, shall contain Ilse usual standard mortgages clause or such other clwse u tM Mortgages may require, making the lou undo said poli• t:~es, each and every, payable ro said MORTGAGEE as its imtreat may appear, and each and every such policy shall be promptly au geed and delivered to any held by said MORTGAGEE u further security to said mortgagt debt, and, not lea than ten (10) days in advance of the expiration of each policy, fo de- liver to said MORTGAGEE a rersewal thereof, together with a receipt for the premium of such renewal; and (here shall be no fire or windstorm insurance placed an any of said buildings, any interest therein a part thereof, vnleu in the form and with the lou payable as aforesaid; and in tM event any sum of money becomes payabb under such Policy or polrc,ss satd MORTGAGEE shall haw the option to receive and apply the same on account of the irsdebted• neu recured hereby a ro permit acid MORTGAGORS to receive and use it or any part thereof for other purposes, without thereb; waivi~sg or unpad- irp any equity, lien of right ursder or by virtue of this mortgage; and in 1M event acid MORTGAGORS shall fa any reason fail to keep the said premises so insured, a fail ro deliver promptly any of said policies of insurance to said MORTGAGEE, a fail promptly to pay fully any premium therefor a in any respell fs. ro perform, dischuge, execute, effect, complete, comply with and abide by this covenant, a any part hereof, said MORTGAGEE may place and pay for such insurance or any put thereof without waiving or affecting any optton, Ikn, equity, or right under or by virtw of this Mortgage, and the full amount of tech and tvtry such payment shall be immediately dw and payable and shall bear interest from the date thereof until paid at the rate of nine per centum per annum and together with such interest shall be secured by the lien of this mortgage. 1. To permit, commit a suffer rso watt, inspairment a deterioration of said property a any part thereof. 5. To pay all and singular the costs, charges and expenses. including a reasoneble attorney's fee and colts of abstracts of title, incurred or paid at any time by said MORTGAGEE, becavsa or in tlse 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, agreemenri, conditions, and covenants of said promissory note and this mortgage any or either, and said cosh, charges and expenses. each and every, shall be immediately due and payable; whether or not there be notice de mend, attempt to collect or wit pandirg; and the full amount of tech and every such payment :hall bear interest from the date thereof until paid at the rare of nine per centum per aruwm; and all said costs, charges and expanses 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 a 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 (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 Tuly, promptly and fully performed, discharged, executed, effected, completed, complied with and abided 5y, then in either or any such event the said ag• gregate sum mentioned in said promissory note then remaining unpaid, with interest accrued, and all moneys secured hereby, shall become dw and pay able forthwith, or thereafter, at the option of said MORTGAGEE, as fully and completely as if all of tFe said sums of -money were aginally stipulated to be paid on such day, anything in said promissory note or in this Mortgage fo the contrary notwithstanding; arsd thereupon or thereafter at the option of said MORTGAGEE, without notice a demand, suit at .law or in equity, therefore a thereafter begun, may be prosecuted as if all moneys secured hereby had nsetured prior to its institution. 7. That in the event that at the beginning of a at any time pending any suit upon this Mortgage, or ro foreclose it, or to reform it, a to enforu 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 sirsyular the income, profits, issues and revenues from whatever source derived, each and every of which, it being expreuly understood, is hereby mortgaged as if specifically set forth and described in tlse granting and habendum clauses hereof, and such Receiver shall have all the broad and effective fursct;ons 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 R10RTGAGEE, and without reference to the edequaey or inadequacy of the valor of the property mortgaged or to the solvency or insolvency of said MORTGAGOR or the defendants, and that such rents, profiri, 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, agreemenri, conditioro and covenants in said promiuxy 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, tM 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 -discharging the Mortgagors' liability here- under orupon the debt hereby secured. No sale of the premises hereby mortgaged arsd no forbearance on the part of the MORTGAGEE or its successors or assigns and no extension of the time for the payment of the debt hereby secured given by the MORTGAGEE or its successors a auigns, shall operate to release, discharge, modify charge 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 obligation hereunder or of the obl'gaYan se- cured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the instrument secured herby. I1. 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 addirional 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 ,state. B-Premiums on fire and windstorm insurance as herein required to be carried on the improvements situate on the above desuibed 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 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 sF.all be applied by mortgagee toward the payment of real property taxes, insurance premiums, and mortgage guaranty insurance premiums. IN WITNESS WHEREOF, the said M/ORTGAGOR has hereunto set his hand and seal the d. sled and li r i ye presence of: STATE Of FLORIDA St. Lucie ~ couN1Y of Before me personally appeared Robert L Jeffer~On, SI and Zanobia B. Jefferson his wife, to me well known and known to me to be the individwls described in and who executed the foregoing instrument, and acknowledged before me that they executed the same for the purposes therein expressed. And the said Zanobia B . Jefferson wife of the said Robert L . Jefferson ~ Ste - peon ti tygparatq and {trivate examinaYwn by rrse taken separate and apart from her said husband, sckrsowledged ro arsd before ma that she executed said instrudiegt•f~y,~vOlvrr tarily and without any compulsion, constraint, apprehens//ion, or fear of or from her said husband. ~~ 4~'. ,,; ` WITNESS my hand and official seal thi^ ! 3 ~` day of Se tember ~ ~ ~ A,-p; •jqµ 9 ,, . ~. , ' ~,~ .. C: Notary Public in end for the State of F _ atr lafg`ey` My Commiuion expires: J ~. ~ ,~~ = u 1, - Return To: - ~' First Federal Savings b loan Association FILED AND RECORDEd' C - , of Fort Pierce. ST, LUCIE COUNTY. FLA. ' Fort Pierce, Florida RECORD V E R I F I E D 183116 '~~ SEP 17 AMI 9 : 2 q This Instrument Prepared By Thomas A. Drisco First Federal Savings b loan Association - ' of Fort Pierce, Florida i20(:ER p01TRAS CLERK CIRCUIT COURTI Checked By t~'~ n 800K ~~9 PAC~~ 1 ~L1 c f -.;