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HomeMy WebLinkAbout0495 3. To plece •nd continuously keep on tM bui'dingi now or hereafi~r s~tuats on sa~d Isnd and on ail equ~pment and periona!ly coverod by this matg~ ags, w~th all premi~ms thercon pa:d in fuil, f~re insurance ~n the ususl sundard policy form, in a sum approved by the MORiGAGEE, and winds~am insurartce in tF~e usual standard pol~ty fam, in a sum approvrd by the MORTGAGEE, in tuch tompa~y or tompanies as the MORTGAGEE ~nay direct; and all (ire and wlndstorm insvranca policies on any of ~aid build~ngs, any interd~t therein or pa.t thereof, in the aggregste ~um afaesaid w in excess ~hereof, shall coroain ~he uswl sNr~ard mortgage~ clause o~ such other dauss as tha Mwtgagee may rcqu~ro, making the lou ~~nde~ sa~d po1F c~es, each and evcry, payable to said MOR!GAGEE as its interest may appear, and each and eve~y such poficy shall be promptly ass.yn~l and delivered tp •ny held by said MOR(GRGEE ai furtha security ~o said mortpage debt, and, no1 le~s than ten (10) dsys in advance of ~he eap~ration of each polity, to dr liver to ~aid MORTGAGEE a renewal thereof, togethar with a receipt (or 1he premium o1 such renewal; and there shall be no fire or windstorm insurance placed on sny of said buitdings, any in?erest thcre~n or par~ thereof, untesa in the fo~m and w7th the loss payable as aforesaid; and in t}x evenl any iun+ of money beca»es payable under such policy a pol~cies said MORTGAGEE shall Fwve ~he opt~on to receive and apply the same on accounl of the indebted- neu setured hareby w ro permit said MORTtiAG02S to reteive and use it or any part thereof for oincr purposes, ~vitMut th_rco/ waw~ng o• unpair- ing any equity, lien w righl unde~ o~ by virtue of Ihis mor!gage; and in the event said MORTGAGORS shall (or any reason fail to keep the said p~emises so inaured, w fail to deliver promptly any of said po~~cies of insurante to said MORTGAGEE, w fail prompt~y to pay fully any pre~nium therefor w in a~y respect fail to per(orm, d~scharge, execute, effect, complete, comply wiih and sbide by this tovenant, or a~y part hereof, sa~d MORTGAGEE may p~+te a~+d pay for suth insurancs or ~ny part the~eof w~thout waiving w affetting any option, lien, cquity, w right under o? by virtue of this Mortyaye, •nd the f~ll amount oi each and every such paymem shall be immedlately due and payable and shall bear interest from tha date thereof until paid at tM rat~ ot nine per centum per annum and to~ether with such interest shall be secured by the lien of this mortgage. 1. To permit, commit or suffer no waste, impairment or deterioration oi said property w any part thereof. 5. To pay all and singular ths costs, charges ~nd expenses, including a reasonable attorney i fee and cosK of abstracts of title, incurred w paid at any tune by said MORTGAGfE, becauae or in the event of Ihe failure on the part of the said MORTGAGOR fo duty, promptly and fuliy periwm, d~uhargs, ezecute, e(fea, complete, comply w~th and ab;de by each and eve~y the stipu~a~~ons, agreements, conditions. and covenanrs of said promissory ~ote and this mortgaqe any or eieher, and sa~d costs, charges and expenses, each arxl every, shall be immed~ately due and payable; whether o? not there be no+ice d~ mand, attempt to collect w suit pend~ng; and the full amount of each and every such payment shall bear interest irom the date thereof until paid al the _ rate of nine pe~ centum per an~~um; and all said tosts, charge: and expenses incurred or paid, together w~th such interest, shall be secured by the lien of thi~ mortgage. b. That (a) in the event of any b~each of this Mortgage o~ default on the part of the A10RTGAGOR, or (b) in the event any of satd sums of money ~ hrrein refe~red to be not promptly and fully paid within th~rty i30) days next after the same seveially become due a~d payable, wiihout demand a notite, ~ or (c) in the event each and every the ~t~pulations, agreen+ents, conditions and covenants of sa~d promissory note and th~s mortgage any w elther tre iwt ! ~~ly, prompNy and fu~ly perfo.med, d~scharged, eaecu~ed, effec~ed, completed, complied with and abided ~iy, then in e~ther or a~y such evem the said ag j gregate sum menrioned in said promissory note then remaining unpaid, with intereat accrued, and all moneys secured hereby, shall becort+e due snd pay- ? abte fwthw~th, a thereafrer, at tlse optio~ of said MORTGAGEE, as fully and completely as ii all of the said sums of money were o~g~nally iripvlated ~ ro be pa~d on such day, anything in sa:d prom~sswy note or in this Mortgage to the co~trory notwithstanding; and thereupon w thereafter at the option of said MORTGAGEE, w~thout norice or demand, suit at law w in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby had mawred pnw w~ts instituuon. 7. That in the event that at the beginning of or at any time pe~ding any su~t upw+ this Mortgage, w to faedose it, w to reform i1, or fo enforce payment of any claims hereunder, said MORTGAGEE shali apply to the Court having ju~isd~ction Ihereof for the appointment of a Reteiver, such Court shall forthwith appoint a rece~ve~ of said mo~tgaged property all and singu~ar, includ;ng all and singular the income, profits, issues and revenues from wi~atever snurce derived, each and every of wh~ch, it being expressly unders~ood, is hereby mortgaged as if specificafly sN forth and dexribed in the granting a~+d habendum clauus hereof, and :uth Receiver shall have all the broad and effective funct~ons and powers in anywise emrusted by a Court to a Receiver, and such appointment shall be made by such Court as an admitted ecuity and a matter of absolute right to sai~ MORTGAGEE, and without referer.ce to the adequacy a i~adeq~acy of the value of the property mortgaged or to the soivency or insolvency of said MORiGAGOR a the defe~dants, and that such renrs, prof~ts, income, iuves and revenues shall be applied by such Receiver accwd~ng to the lien or equity of sa~d MORTGAGEE and the practice of such Court. 8. To du1y, promptly and fully perform, dfscharge, execute, effect, mmplete, comply with and abide by each and every the stipulations, agreemenri, i conditicns and covenanra in sa~d promissory note and this mortgage set fwth. 9. That in the event the ownership of the mortgaged premises, o? any part thereof, becomes vested in a perwn other than the MORTGAGOR, the MORTGAGEE, its successws and assigns, may, without no~ice to the MORTGAOR, deal with such successw or successw in interest with referente to this mortgage and the debt hereby secured in the same manner as with Mortgagor without in any way vit~ating a d~xharging the Mortgagora' liability herr under w upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearante on the part of the R10RTGAGEE w its successas ~ or ass~gr.s and no exrens~on of the time for the payment of the debt hereby secu~ed given by tFro MORTGAGE~ or its successors w au~gns, shall operate ` to re!ease, d~scharge, modify change w affect the orig~nal liability of the MORTGAC,OR herein, eithe~ in whole or in psrt. j 10. It is speufically agreed thst time is of the cue~ce of this contrad and that no waiver of any obligation hereunder or of the obligaYan tr ~ c~red hereby shall a~ any time thereafter be held to be a waiver of the terms hereof a of the instrurtxnt secured herby. ' 11. In add~tio~ to the fore~o:ng monthly paymeNS of princ'pal and interest required by the promissory note secured hereby, mortgagar tovenants and agrees to pay to mortgagee with each monrhly payrnent an add~~ionai sum estin,ated by mortgagee to be equal to 1/12 of the annual cost of the follow- 'ng: ,I ~ A-All reaf property ta:es kvied or assessed agai~st the aEove dexribed real estate. ~ B-przmiu~ns On fire and windstorm insurar.ce as herein requ~red to be carried on tFx improvements sitvate' on the sbove described premises. ~ C-Premi~m~ on such rtwrtgage guaranty insurar~ce as rrartgagee shall from t~me to time deem fit to carry on the ban secured hereby. ~ Mortgagee shaE~ frorr. time to time notify mortg~ger in writing of the amount due and payable hereundrr and suth sum shall thereupon be due and ~ f Fayabfe on the due date of the next monthly payment and each successive month the~eafter urtil mortgagee shall notify mortgagor of a change in such ; ~ amount. Such s~ms s~a:l be applied by mo?tgagee toward the payment of real property taxes, insurance prem.ums, and morigage guaranfy insurance i piemiums_ ~ IN WITNESS VJHEREOF, the uid MORTGAGOR has hereunto set his hand and seal the day a y fi t aforesaid. Signed, Sealed and delivered i~ the presence of: ~ aq ; ~ il~~y ~-l~u.t~~~? s ~ ~ ~ t5eaq S TE OF FLORIDA ~ ~ ST . WC IE - couNn oF Befwe me penonally appeared - DB~Vlt~ L. Wa1~C@I ~ ~nd Verda E. Walker his wiie, to me well known and k~own to me tc be the ind~viduals desuibed in and who executed the f a ins umep~ acknowledged befwe me that they executed the same for the purposes ~ 's ~herein expressed_ And the :a~~ ~r~a N1a~Q! wife of the said David L. W81~CC'! upon s sapsrate and priv~t~ ~ examination by me take~ separate and apart from her said husband, sdcnowledged to and before me that she executed said inst~vmeot fratly snd volurr ~ o rarily and witFw~t any compulian, constraint, sp~eFxns~on, qr fear of ot from her ssid husband. WITNESS my hand and official seal this ~ q TS day of NOV@IIb@Z 19 69 , v~~I ~ ~.JSn~~-„~~v ~I~-t~.~~t+~l~~'~ t' ; ~ Notsry Public in end fw tFN 54sti of ai~~i,pe~- expires: r,J;` . = e~~,,.~ To: • FILEO" AND~ F~E~~~' ~'?S~ o-~.; - ~ F~~:~ F~a~.,i sa~~ ST. LUCIE COUNTY;'FLA'? : c' ; ngs a loan Association : . or Fo., P,e«e. RF:CORD VERIFIED : ~ ~ ~ Fort Pierce. Florida 185943 - ~ t. . ~ ; '69 NOV 20 AN 10:03 ~~-3-~~ j J. Chastain ~ This Instrument Prepared By ~ ` First Federal Savings 8~ Loan Association ~ a~ ROGER P017RA of Fort Pierce~ Florida CLERK CIRCUIT COURTi~ . . ~ Checked By ~ ~ ~ BOOK ~.81 ~A~f 495 - r-~ ~ ; - ~ - ,c~ . :