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HomeMy WebLinkAbout1258 9. To place and contiruousFy kNp on th~ buildinps now or MreahK utvu~ on s~id land and on ~II eq~ipm~nt and penonally covaed by thi~ mwtp- a~~. wlth ~II premiums ihereon ps~d in full, firo ir?wr~nc~ i~ tM u~wl itandard poticy fwm, fn a wm approvtd by the MORiGAGEE. and wir+d~twm inwranc~ in tM ~sual iun~iard poucy fam, tn • wm ~pproved by ths MORTGAGEE, in wch company a compani~s ~s ths MORTGAGEE may dinctt and ~II fin er~d w'u+d~torm i~suranu po~kas aa sny of said build~rgs, any lnter~~t thxti~ w part theceof~ in the spgrep+q sum afw~sald o? in ~xuss thaeof, shall contain the uwal ~tandard mortpyN clavs~ or tuch other dwse ~s tM Ma19aQee may requi~~. makinp th~ {oss under said po1F cie~. eath and ~very. paYable b s+id MORTGAGEE as in interest may ~pp~+r. +nd e+d+ +ed ~verY t~ch folicy ~h~il be promptly ~u:Qaed and delive~ed to any Mld by said MORTGAGEE ai funha security to said mo+~y+y~ d~bt, ~nd, not tess tM~ ten (10) dsys in advanca of the ~xpinYwn of each policy, to da livK to s+id MORTGAGEE a renewal tFK.eof, top~~Fwr with a raceipt iw the premium of such renewal; and then shall be no f~r~ a windstam ieuur~ot~ pl+ad on ~ey of said buildirgs, u~y inttrsst then::+ ot put thereof, u~leu io the fo~m and with th~ loss payabk as afaesaid; ~nd in tF» ewnt ~ny wm of morKy becomes payable unde+ such policy a polici~s said MORTGAGEE shall haw tM optan to receive arul apply the same on atcou~l oi th~ indebted~ nsu sonxed her~by w ro permit ~W MORTGAC~ORS to nteiw and uss it w any pa?t thereof fw other pvrposes, without thrreb~ waivi~ig o~ impair- irq any aq~ify. IiM or rqht ~nder or by vktw of this mortpape; end in f1a eve~t taid MORTGAGORS sha~l fo~ sny reason fail ro keep the said premisa so iniured. a iail to d~liver promptly ~ny of ssid policies of insur~nc~ to ~aid MORTGAGEE, w fail promptly to pay fully sny pre+niuq? tF?erefw ot i~ ~ny reipact fail to pafwm, d~xhuge. execute. ~ff~ct, tomplete, comply with and ~bide by this covenant, a a~y part hereof, ssid MORTGAGEE may place and pay fa such insvranct w ~ny part the~eof without w~ivinp a affectinp uiy opt'an, li~n, eQuity, a rigM vnder w by virtw of thi~ Mor~papa, and tM full amount of each ud every such p~ym«+t ihall bt immedi+tely dw aod payabl~ a~d ihall be~r Tnterest from tM date thereof ~ntii psid a1 tM rat~ oi nine pK antum per ~ruwm ~nd together wi~h wch interest sMll be secured by tM lan of this mat9age. 4. To pe~mit, commit or suffer no w+st~, knp~irmcM or dcterioratio~ of Nid property or ~ny p+N thereof. S. To pay all and sinpulsr ths costa, cMrpas +nd expenses, includinp a ressonable.attorney's fee and co:ts of ~bstracri of titl~. incur~ed w paW ~t any time by said MORTGAGEf, beuuse or in th~ ~ve~t of ths failwe on the p~rt of the taid MORTGAGOR w duly, pranptly a+d fully perfwm, d~schuy~, execv~e, effect. complet~. complY with and +bide by ead+ ~nd every the stipu0ation~, agreements, conditioro. and covenann of wid p~omissory note and this matyspe any w either. and said cosM, chuyes aod eaPe^sea, each and every, ihall be immediately d~e and payabls: whethe~ a not the+~ b~ notice ds mand attempt to colkct or wit pend'+ngs +nd tM full amouM of esch and tvMy wch paymcnt sh~ll bea~ intenrsf from the date thereof until paid d tht ra~e of n~ne per centum per ~mwm: and slt said oosta, chupea and expenses inaxnd w paid, togedxr with s~xh iotereit, sMll b~ secured by ih~ lien of tha morty~y~. . 6. That (a) in the ~vent of sny bre+ch of this Mat9~~ or dafaulf on the pa?t of the MORTGAGOR, ix (b) in the ~vent any of sa~d wms of money herein ~efared to be not promptly and fulty paid within thirfy (30) days aexf after the same seveaally bacane due and p~yabk, without demsnd or notitt, or (cj tn the event each u~d every the stip~latio~s, spreemsnts, conditio~s and covaunn oF sa~d promiuory ~ote and th~i morlQs~e any w either an no1 iuly, promPNy and fvtly perform~d, disch~rped. e~ecutad, effected, compkted, complied with aed ~bided by. tMn in e~tha w any sv:h event tM aid sp~ gregate wm rt~t'aned in said promissory note tFiM ranainirg unpaid, with imerest xuued, and all moneys secvred hereby. sMll beCOme dw and pay~ able forthwith, a tF+ereaher, ~t the option of said MORTGAGEE, as f~lly and oomplately as ii all of the said wms of money were origin~lly atipul~ted to be psid on such day, anything in sa~d r~omissory note w in tha JNortg~ye to the con~rary notwi~hstanding; and tl+ere~rpon or thcreafter at the op~an of said MORTGAGEE, without notice w demaed, wit at law w in puity, therefwe or thereafter begun, may be prosecuted as if ~tl nwneys setured hereby had matwed prrot to its institution. 7. That in the event tfut at the beginnin~ of or ~t aay tims pending snY suit upon this Mwtgage, o~ to faeclose it, w to roform it, o? to anforo~ payment of a~y claims he~eunder, said MORTGAGEE shall apply to the Covrt having jurisdinion thereof fw the eppointment of ~ Receiver, such Co~rt sMll Forthwith sppoint s reteiver of ssid mortpsyed property all and sinpular, includu+g all ar+d sirgutar the income, profits, iuup ~nd revenues from whatsve~ wurce derived. ~ach and every of wli~ch. it beirq expressly understood, is hereby matgaged as if specificatly set fath and dewibed in the p~anting and habendvm clauus hereof, and such Receiver shalt h~ve all the boad and effective functions and powers in anywise entrusted by a Court to a Receiver, and such appoi~tmem shall be made by such Co~rt as an admitted equity and a matter of abso0ute right to said MORTGAGEE, a~d without teference to the adequacy w inadequacy of the wlue of the property mwte+ged or to the soNency w ioso~vcncy of said Ar.OR7GAGOR a the defendanri, end that such renrs, profin, income, iuues and revenues si»II be ~pplied by such Receive~ eccordinp to the lien t r equity of said N10RTGAGEE and the practip of such CovA. 8. To d~~ly, p~omptly and fvlly perfom+, d7schsrge, execute, effect, complete, tomply with aod ~bids by esch and every ths stipulations, ~greemenb, condiYans and covenann in said promissory ~ote and this mortgsge set fwth. 9. Thst in the evenf the ownership of ths mortgaged premises, or any part thaeof, becomes vested in s perso~ other tMn the MORTGAGOR, tM MORTGAGEE, in successws and suigns, may, w~tho~t ~otice to the MORTGAOR, deal with svch wcceuw w svccessor in interest with reference to this mortgage a~d the debt hereby setured in the same m~nner u with Mwtgaga without in any way vitiatirg a discharging the Mortgsgors' lisbility here- under or ~pon the debt hereby secured. No tak of the premisrs hereby mortgagad +nd no fwbeer~nce on the part of fhe MORTGAGEE w its successws or augns and no extension of the time for the payment of the debt hereby- secured given by 1he MORTGAGEf or itt avccessors or usigns, shall operaro ro rekase, discharge, modify tlwnge or affect the wiginal liability of the MORTGAGOR herein, either in wFab or in psrt. 10. It is specifically agreed tMt time is of the esserxe of this contrsct an~ thst no wsiver of sny oblgatan hereunder or of ths obliyation se~ cured hereby sf+all at any time thereafter be held to be a waiva of tt+e terms hereof or of the insuwnent secured herby. 11. In add~tion to the forego:ng monthlY payments of princ'pa) and interest required by the promissory no?e secured hereby, mortgsgor oovenants and sgrees to pay to mortgagee with esch monthly payment an additan~l sum estim~ted by mortgagee to be equal to 1/12 of the ann~al cost of the follow- i~: A-AII resl property taxes kvied or assessed against the above deu*ibed real essate. - ~ li~sq~~ . B=Rremiums on fire and windstorm inwrance ~s herein requ~red to be carried on the improvements situate on the sbove descy ~~emy~fy. ` C-Premivms on such mortgage gwronty insutance as mortgagee shsll from time to time deem fit to carry the bsn s~ k~her~yi.•.:. ~ Iwwtgagce shatl from time to Yune notify mortgagor in writing of tha amount due and payabk hereunder ~nd such wm s ra ~ payable on the dve date of the next monthty payment snd esch successive month tFieresfter vntil mortgagee shall notify mort~3pw~ ~~'F a•t]tsi~'s ~ ~ amount. Such svms shall be applied by mwtgagee toward the p+yment of real property taxes, inwrance prem:ums, ~nd ~t~l ~wt~i~ix~ : premiumt. . {rs S E IN WITNESS WHEREOF, the said NIORTGAGOR hss heraunto stt his hand ud ~I tlx day and year fust ~fwesi .~i E E ~ ~ • ~ ' ~ f sgnea, sNlea and ae~fve.~a M,fi. a~. or: ~ ND RECORDE~ € ~?~EO~i~ ~ovr~TY^~~ar~R ~ . a . . t-~ . - ~ r ^ gy ~ - ~ 154~~6 e ~ ' e - n ~ . Y ~ - _ s~ 3- t----- c e._ on ecrQ ar _ ~ ~ v~,r--" ~C STATE OF FIORIDA F~~~~~ ~tK C1 C 1 HEREBY CERTIFY, That on this ~ day of Octobet , A.D. 19 69 ~ before me personally appeared Joseph Peoni and ~ Bl~~e p~ni respectively President and Secretary , of Mezrvweathez Investse+nt Co. . Inc. , , a Florida Corporation, to me ~ Known to be the persons ~iescribed in and who executed the foregoing instrument, and severally acknowledged the exe- ~ cution thereof to be their free act and deed as such officers for the uses and pursoses therein mentioned; and that they affixed thereto the officiai seal of said corporation, and the said instrument is the ad and deed of said corporation. WITNESS my hand and official seal at Fort Pierce taid oounty and state. : ~ ~ " ' 2his instruaent prepared by : ~t ~ Johrt W. Col lins :~--i ; ty Pub(ic, iA for State and County aforesaid. First Federal Savings and Loan _ ; ~~mmission. _ :pires: ~ /~7~ Assocfation af Fost Pierce, Florida ~ _ . - ~ ' O f •.1 '`in~' y..~..0', . lbt~rl? Sbk of florida ~t Larq~ J. , ~ W~aussion Ezpires Au4. 6. 1911 Chedced By ~ c;`N s._ y 1..+.iKe~fid~~sa. J 800K ~8~ PA(~1~?~c7 - ~ ~ ~ : , , . _ _ _ __v. _ _ . ~ ~:~.~~~.~~;-L a.~ .