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HomeMy WebLinkAbout1073 3. 1o p~ace and continuously keep on the buitdings now w hcrsafter ?ituate o~ said Isnd and on afl equipment and pertonally covered by this mas¢ egs, wifh all premiums fhe~eon pa~d in full, fire insurance ~n the usual i~andard polity form, in a sum approved by the MORfGAGEE, and windstorm 3nsurance in the us~al f~andard pol~cy (orm, in a tum approved by the MOR7GAGfE, in such campany or compa~ies as the MORTGAGEE may direct; and alt (irs and w;ndstorm insurance poliuei w+ any oi said build~ngs, any interest therein or part thereof, i~ the aggregste sum ~foresaid u in excess thereof, shaU contain the usuaf ~tandard mor~gagee clsuse o? such o~ha clause as ths Mw~ga9ea may requ~rs, making Ihe loss unde~ ldl(J POIF ; cies, each and every, psyab~e ~o said MORIGAGEE as its interesl may ~ppea?, and each and eve~y such policy shall be promptly ass.gned and del~vered to ~ any held by sa~d MORTGAGEE as iur~her security to said mwtgage debt, and, not !eu than trn (10) days in ad~ance of the expirat~on of each policy, to de- f Ifver to said MORTGAGEE a ~enewal thereof, ~o9ether with a receipt for the p~em7um of such renewal; a~d there shall be no f~re or ~v]ndstorm i~sur~nce ; plated on any of said buiidings, any interes~ the~ein w part thereof, unlesa i~ the form and with the loss payable as afo~esaid; snd in the event any tum ~ of money betomei payable und~v such polity or polities ~sid MORTGAGEE shall have the option to retaive and apply fhe 3amt on actount of the indebted- ' ness setur~d hereby or ~o pe~mif said MORIGAGORS to receivs snd use it w any part thereof for o:nc~ purF~oses, vi~tho~t th_r~b~ waivin3 0~ m~pair- ing any equity, lien or right under ot by virtue of this mo::gage; and in the evcnt aa~d MORTGAGORS shall fw any reason fait to keep the said premise~ so insured, or fail to deliver promptly any of said policies o( insurance to said MORIGAGEE, or fail promptly to pay fully any premium therefw or in any respect fai! to perform, d~scharge, execute, effeu, comp~e~e, comply with and abide by this covenant, w any part hrreof, aaid M~RTGAGEE may plste and pay fa such i~urance o~ any part there.~f without waiving w affectiig any op~ion, lien, equ~ty, or r~9hf unde? oa by virtue of this Matgage, u+d the fuil amoun~ ot each and every such paymenf sha~l be immediately due and payabte and shall bear iMerest from tha date ~hereof until paid at the rate ol nine per centum per annwn and to~ether with such inte~est shali be secured by the lien of th~s matgaga. 1. To pe~mit, commit or suffer no waste, impairment w deterioratio~ of said property or any part thereof. 5. To pay all and aing~lsr the coata, charges and expenses, including a reswnabte attorney i fee and costs of abst~acts of title, incurred or paid at any time by said MORiGAGEE, because w in the event of the failure on the part of the said MORTGAGOR to duly, promptly and fully pe~iam, diuharge, execute, effect, comptete, co~nply w~th and ab;de by each and every the st~pu~at~ons, agreements, conditions, and covenanrs of sa~d promisso?y note and this mortgage any w ei~her, and sa:d costs, charges and expenses, each and every, shall be immediately due and payable; whether w nat there be notice de ma:~d, attempt to coil~t or a~it pending; and the full amount of each and every such payment shall bear in?erest from fhe date thereof until paid st the rate o1 nine per cemum prr annuT; and all said toin, charges and expznses incurred or paid, together wdh such interest, ihall be secured by the iien of thi~ motfgage. 6. That (a) in the eve~t of any breach of this Mortgage o~ defau~~ on the part of the MORTGAGOR, or ;b) in the eveM any of said sums of mor~ey herein refer~ed to be not pro~nptly and iulty paid within th:rty (30) days next after the samr severa:ly become due and payable, without demand or notite, or (c} in the event each and every the stipulations, sgrteinents, tonditions and tovenants of sa~d promissory note and th~s mortgage any or either are nol , iuly, promptly and lully perfw~ned, d;scharged, executed, effected, completed, complied with and abided Sy, then in e~~her o~ any such event ths said a¢ ~ gregate sum mentioned in said promissory note then remaining unpaed, with interesl accr~ed, and a~l moneys secured hereby, s~all become due and pay- nble forthwith, w thereafter, at the option of said MORTGAGEE, as fulty and completely as ii a!I of the said sums of money were or~ginally stiputated to be paid on such day, anything in sa:d promisswy note a in this Morlgage to the contrary notwithsianding; and thereupon or thereafter at the option of saFd MORTGAGEE, w~tFout notice or demand, suit at law a in equity, the~efore w thereafter bsgun, ma~ be prosecuted as if all moneys secured hereby had matuted pr~or to its insiitution. 7. That in the event that at the beginning of or at a~y time pe~ding any suit upon this Mwtgaqe, or ta faeclox it, or to refwm it, or to enforp payment ol any claims he~eunder, said MORTGAGEE shall apply to the Coun having ju~isdiction thereof for the appo~ntment of a Receiver, such Cou~t shall Fonhwifh appoirtt a receiver of said mortgaged prooerty all and singular, intlvd~ng all and singular the income, profits, iss~es and reven~es from whatever j source derived, each and everY of wh~ch, it bei.ig exgressly understood, is hereby mortgaged as if speufically sel forth and described in the granting and F.abendum clavses hereof, and s~ch Receiver shall have all the broad and effective fund~ons and powers in anywise entrusted by a Court to a Receiver, and such appointmenl shall be made by such Court as an admitted equity and a matte~ of absolute right to said MORTGAGEE, and without reference to the adequacy or inadequacy of the valut of tF~e property mortgaged or to the sowency or insolvency of said MORiGAGOR p the defendants, and that tuch ren~s, proiits, income, i:sues and revenues ahalf be applied by such Receiver according to the lie~ or equity of uid MOR7GAGEE and the practice of such CWrt. 8. To duly, promptJy and fully pe~form, d;scharge, execute, effect, complete, comply wifh and abide by each and every the stipulations, agreeme~ts, conditions and covenams in sa~d promissory note and this mortgage set fwth_ 9. That in the event the ovvnership of the mortgaged premises, or any part thercof, becomcs ve:ted 'm a person other than the MORTGAGOR, the MORTGAGEE, ita successors and assigns, may, wirhout notice to the MORiGAOR, deal with such succeuw oi successw in interest with reference to this mortgage and the d~bt hereby secu~ed in the same-manner as with Mortgaga w~thout in any way vitiating or diuhmging the Nbrtgagors liability t~err ~nde~ w upon the debt hereby secured. No sale of the premises hereby morfgaged and no forbeaiance on Ihe part of the MORTGAGEE w its sutcessors or assigns and no extens~on of the time for the payment of the debt hereby setured give~ by the MORTGAGEf or its successors or au;gns, stiall ope~ate to release, d~xharge, modify change or affect ihe original liability of the MORTGAGt7R herein, either in whole ar in parf. 10. It is speufi:ally agreed that time is of the essence of this contract a~d that no waiver of any obt;gat;on hereunder or of the obligatan sr cured hereby sha71 a? any time thereafte? be hrld to be s waiver of the terms hereof w of the instrument secured herby. ) l. !n add.tio~ to the forego:ng monthly payments of princ'pal and interest required by the p~omissory no!e secured hereb~, mortgagor covenants and agrces to pay to mo:tgagee with each monthly payrnent an add~rional sum estimated by mortgagee to be equal to 1/12 oi !he annual cost of tbe follow- ing: A-At! rea! property taxes lev;ed or assessed agai~st the above described real esrate. B-Prem.~ums on fire and windstorm i~surar.ce as herein requ~red to be carried on the improvements situate on t!+e above described premises. C-Pre~niu:.~s on such mortgage guaranty insurar,te as mortgagee shall from t~me to time deem fit to carry on ihe ioan secured heieby. Mortgagee sha'1 from time to time notify morrgagor in w+iting of fhe amourN due and payable hereundrr and such surn shall thereupon be due and payable on the due date of the next monthly payment and each successive month thereafter ur.til mortgagce shall notify mortgagor of a change in such - amouN. Such sums sF.a!I be appiied by mortgagee toward the payment of real property taxes, insurance prem:ums, arzd mortgage guaranty insurance premiums. • IN WITNEaS 1JHER'cOF, the sa~d MORTGAGOR has hereunto set his hand and seal tne day and e r first afwesaid. Signed, Sea a~ delivered in the presence oi: h ; ~ Seaq Seal) ~Seaq ~ STATE OF FLORIDA F COUNTY OF St. Luc ie ~ ~ I Before me pe~sorwlly appeared Paul H. Melzer ~„d ` Annabelle E. Melzer his wife, to me wefl krawn and known to me to bs E the individuats deuribed in and who execured the faegang instrurrKnt, and acknowledged before me that they executed the same iw tF~e purposes ' rherein expressed. And the sa+d Annabelle E. Mel2er ~ wife of the said patl~. H• Melzer upon s seps?ate ~nd priwt~ examinat~on by me taken separate and apaA from her said husband, etknowledged to +nd before me 1Raf slx ezecuted said instrument f?eely and volun- ~ rarify and w~tho~t any compulsion, censtraint, apprehens;or? o~ fesr of or from her said husband. i WITNE55 my hand and offic;al seal fhis day of ber A D. 19 69 FtLED APJD RE ; S;, L~lC~F CQU~,TY. FLr~.Notary Puble ~nd for the tate of Florida at l~rge i ^ ~ ^;1 ~ ~ E ( i Rty Comm expires: ~ , (o / 9 / Return To: ~ ~ ' Fint Federal Savings d. Loan Association ~~i 6L~2 +t~tli`•l. ; Of Fort P~erce. . IG :'fK. '~ta~E Of I IOriCa at ia:~ nr. ~ Q .4~' ~p'~ ~ug. 6. 1971 ~ fon Pierte. Fbrida t}IJ ^ ~ ~ . ~7 1~~` ~a•~• ~iSIQO ; ~ p~1Y f~ ~ S~I SlEc ' _ ~°~~v~l~: = ~ ~'C3iir.µ~ l-'' ~ "3 ~ = : This Instrument Prepared By RiQfia-r~ici~^,~?i(~~~Q(/~'T' - - ~ ~ ti - ~ : - • • ~ First Federal Savings & Loan Association i•,;:.~ ~ : ~ ~ of Fort Pierce, Florida . • Q ,'t ~ . - . - ' p : ; ~ ~ ,tiv $ t Checked By n ' BQOX ~ ~ r ; ~ ` cf € , - - - ~ ~ _ . . . ~ : .._s .