HomeMy WebLinkAbout0893 3. To place and continuously keep on the bui!d~ngs now or hereafttr s~tuste on sa~d land and on al~ equipment and personally tove~ed by this matg- ;
ege, w~th all prem~ums the~eort pa~d ~n full, f:re insurance ~n the usual srandard po~icy form, in a sum approved by ~he MORrGAGEE, and winds~orm
insurance in the usual seandard po~~cy fam, in a sum approved by ihe MORIGAGEE, in such canpany or compan~es as the MORTGAGEE may
direcl; and all firc and w~ndstorm insuronce po~~ues on any of said build~ngs, any inte~est the~ein or part thercof, in the aggrega~e ium afaesaid w
in excess thercof, shall contain the usual standard morrgagee clause w such other clause as the Mwtgagee may requ~re, maAing the ioss unds~ se~d po~f
des, each and evcry, pavab~e ~o said MORTGAGEE as ~b intere+t may appear, and each and every such po~icy shall be promp~ly ass gned and detivered to
sny held by sa~d MORIGAGEE as tur~her security to said mo~~yage debt, and, not less than ten (10) days in advance of the expiration oi each policy, to da
liver to said MORTGAGfE a rmewal thereof, toge~her with a rece~pt fw ~he premium of such renewal; and there shall be ~+o i~re or w~nds~orm iniursnce
placed on any of said build~ngs, any intere~l there~n or pa~t thereof, u~less in the (orm and with the Ioss payable as afo~esaid; and in the event any sum
of money becomes payable u~dc~ such policy w pol~cies said MORTGAGEE shal! have the opi~on to receive and apply the same on accoum of the indebted~
ness secured hereby or ~o permit said MORTGAGORS to receiw and use it or any pa~t theraof ior other purposes, v+~~haut th:rco~ wai~ing or unpair•
i~g any aqu~ty, lien or right under or by virtue of this mo::gage; and in the even/ w~d MORTGAGORS sha~l for any reason fail to keep the sa~d premises so
ina~red, or fail to deliver promplly any of said policies of insurance fo said MORTGAGEE, w fail promptly to pay fully any premium therefw a in a~y
respect fait to perform, d~scharge, execute, effect, complete, comply wi~h and sbide by this covenan?, w amr part hrreof, said MORTGAGEE may place and
pay (w such ineurance or +ny part thereof witlwut waiving a af(ecling any optiort, lien, equity, or righ~ under u by virtue of this Mwtgage, and tht
tull amount of each and every such payment shall be immediately due and payable ~nd shall beai interesl from the date thereof until paid at the rote ol
nine per cemum per annum and to~eiher with such inte~est shali be secured by the litn of this mortgage.
4. To permit, commit or suffer no wasie, impairment a deterioration of said property o? any part thereof.
5. To pay all and singular the coats, cMrgea and eapenses, iicluding a reasonable a~twney i fee and costs of abst~ads of tiNe, incurred o~ paid at
any time by said MORiGAG:E, besause or in the event of the (ailure on ~he part of the said MORTGAGOR to duly, promptly and fvlly periwm, discharge,
execute, e(fect, complete, comply w~th and ab:de by each and every the stipulat~ons, agreements, co~dit~ons, and cove~ants of sa~d promissory note and thi~
mwtgage any or either, and sa:d cosrs, charges and expenses, each and every, shall be immediately due and payable; whe~her or not there be nor~ce de
mand, attempt to colled or suit pend~ng; and the full amounf of each and every svch payment sholl bear interest from the date thereof until paid a1 the
.ate oi nine per centum per annurn; and all said costs, charges and expenses incurred w paid, togather w~th such interest, shall be secured by the lien of thi~
mortgage.
6. Thal (a) in the event of any breach of this Mwtgage w default o~ the part of the MORTGAGOR, w(b) in the event any of said sums of money
herei~ referred to be not promptly and lully paid within th~rty (30) days next after the same severa~ly become due and ~ayable, wi~hout demand w notite.
or in the event each and every ~he stipula~ions, agreements, co~ditions and covenanta of sa:d promissory note and th~s mortgage any o? either are not
~uiy, promptly and f~Ily performed, d~uharged, executed, effected, complefed, complied with and ab~ded Sy, then in e~ther « any such event the said a¢
gregate sum mentioned in said promisswy note then remai~ing unpaid, with interest acuued, and ail rrx~neys secured hereby, shall become due and pay-
able forthwith, or thereafte~, at the option of said MORIGAGEE, as ful~y and complere~y as it all of the said sums of money were o~~ginally alipulated
ro be pald on such dzy, anything in said promissory note or in this Mortgage to the contrary notwirhstandmg; and thereupon w thereafter at the option of
said MORTGAGEE, without ~ot~ce w demand, suit at law or in equ~ty, therefore w thereaffer begun, may be prosecuted as if all moneys setured hereby
had matured pnor to rts institubon.
7. That in the event Ihat at the beginning of w st any tirtx pending any suit upon lhis Mo~tgage, or to foreclose it, or to reform it, or to enforce
payment of any c!aims hereur.der, said MORTGAGfE shall apply to the Court having jurisd~ction thereof for the appo~ntment of a Receiver, such Court shall
forthwith appoint a receiver of said mortgaged prooerty ail and sirguiar, includ~ng all and singular the income, prof~ts, issues and revenues irom whatever
source de+:ved, each and every of which, it Ee~ng expressly understood, is hereby mo~tgaged as if speoficalty set forth and described in the g~anting and
habendum clauses hereof, and such Receiver shall have all the broad and effective funct~ons a~d powers in anyw~se entrusted by a Court to a Receiver, and
such appointment shalt be made by such Court as an admitted equity and a matte~ of absolute right to said MORTGAGEE, and w~thout re(erence to the
adequacy w inadeq~acy of the value of the property mwtgaged or to the sotvency or insolvency of said MORTGAGOR or the defendants, and that svch
renrs, profits, income, issues and revenues shall be applied by such Receiver according to 1he lien or equity of said MORTGAGEE and the practice of such
CovA.
8. To dvly, promptly and fully perform, d'escharqe, exec~te, efiect, complete, comply with and abide by each and every the stipulations, agrcements,
conditions and covenants m sa~d promisswy note and th~s mor:gage set forth.
9_ That in the event the ownership of the mortgaged prem~ses, or any part thereof, becomcs vested in a person other fhan the MORTGAGOR, the
MORTGAGEE, its auccessws and ass~gns, may, without notice to the MORTGAOR, deal with such successor w auccessor in interest with reterente to this
mortgage and thc debt hereby secured in the same manner as with Nbrtgagor without in any way vitiating or d~xharging the Nlortgagors' liability he~r
under or upon the debt hereby secured. No sate of the premises hereby mortgaged and no forbearance on the part of the MORTGAGEE w its successws
or assigns and no extens~on of the time fw the payment of the debt hereby secured given by the MORTGAGEf or its successors w auigns, shall operate
ro release, d~scharge, modify change w af(ect the ocig~nal liability of the MORTGAGOR herein, either in whole or in yart.
10. It is spec~fically agreed that time is of the essence of ?his contract and that no waiver of any obligat~on hereunder or of the obligatan sr
cured hereby shali at any time thereafter be held to be a waiver of the terms hereof a of the instrument secured herby.
' 11. In add~t~on to ine {ore~o:ng monthly payments of princ'pal and interest required by the prom~ssory nore secured hereb~, mortgagor tovenants
and agrees to pay to mo:tgagee with each monthly payrnem an add~rional sum estimated by mortgagee to be eqval to 1 j 12 of the annual cost of the follow-
ing:
i A-Ail real property taxrs levied cr assessed agaiost the above described real es~ate.
B-premiu~ns an fire artd windstorm insurar.ce as herein rcqu:red to be carried on the improvemr.~ts situate on the above described premises.
; C-Premiums on such martgage guaranty insurance as mortgagee shall from t~me to time deem fit to carry on the loan secured hereby.
f Mortgagee sha!I frcm time to time notily mortgagor in writing of the amount due and payable hereundrr and such sum shall ~hereupon be due and
i Fayable on the due date of the next monthly payment and each successive month thereafter ur,til mortgagee shall notify mortgagor of a change in such
amount. Such sums 3f`3:I ~C applied by mortgagee towaid the payment of real property taxes, insurance prem:ums, and mortgage guaranty insurance
i premiums_
~ IN Y~ITNE55 `NHEREOF, rhe said MORTGAGOR has hereunto set his hand a~d seal the day and yea firsl aforewid.
~ Signed, Sealed and delivered in fhe presence of: ,
i ,
~ _ _ • (Sea4
-.r:ess ~ Les ie B. Shafr an
. + l (Seaq
~ :tr_~s ' Aurelia Sha~r r~,p
€ ` i
~ SiATE Of FLORIDA ~
a COUNTY OF St . Lt1C 1@
~ Before me personally appeared ~-'S11@ B. ShaW a~
~ Aurelia Sha~? hia wife, to me well known and known fo me t0 be
~ the individuals described in and who executed the fwegoing instrument, and acknowtedged before me that the~ executed the same fw the p~rposes
~ therein expressed. And the wid Aurelia ShaW
_ .~ife of the said ~SZl@ B. ShaW upon e xparate and priv~t~ t
~ examination by me taken separate and apart from her said husband, acknowledged to and before me tFwt she executed said instrument freely and volurr i
~ tarily and withovt any compufsion, constraint, apprehens+on, or fear of or from her said F?usband. :
r WITNESS my hand snd official seal this--~~ ~ day of November A. D. 19~~ `c; ~ S
. ;
- ~ B~ .:.ri~ i
1?-~-?~-.~-^ '
a Notary Public in and " or tbe tata of Flwid~. a~ ~i ~
My Commission expires: . n ' . ' %
Retum To: - ~ -
} 1.~ t
First Federal Savings 8 loan Association i.: ~ 1:
~ of co~t P~e«e. RECORDED N;,'.: : . . , ~~i i i~
~ Fo~t Pierce, Florida ^FILE~Ot E ~ GUtJTY. FL.% ~ ,J,~t , ~2 _ M ~ _
a_ J LlJ /'~I''~, ~J . ~ ~ . . . •`J.
- ^ . t! . " i F~ ~ ' - ^
y 186242 v~~~':: . . .
~ This Instrument Prepared By Richard K. Kaye S
~ First Federal Savings 8 Loan Association +~Q ~i~~{ Z 8 ~ g• 6
~ of Fart Pierce ~ Fla.
~ Checked By , n ~ , _ } ~ ~n _ S
~
f;t ~~K r;itCJIT CJ~RT ~
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