HomeMy WebLinkAbout1075 3. To place and conr;nuously keep on the bu~Id~ngs now or hereafier ~ituat~ on sa~d tand and on all equlp,,,en1 and perso.~aily tovered by this mortg~
sgs, w~th all premiums thercon pa~d in full, fire insurance in the usual standard po:ity form, in a sum approved by the AAORiGAGEE, and windstwm ~
insu~a~ce in Ihe usual ttandard pot:cy (orm, in a sum approved by the MORTGAGEE, in iuch company or compan~es as the MORiGAGEE may ;
d~?ett: and all fire a~d w~nJi~orm insurance policies o+~ any of sa~d build~ngs, any intera~~ therein or parl thereoi, in ~he aggregaee aum afo?eiaid w
in excess Ihe~eof, ihall contain the usual standard mor~gagee ctauss w such olher clavse as the h1alyagee may requ~re, making the Ioss unde~ sa~d poli- ~
ue~, each and every, payaDle eo said MORTGAGEE as ~ts interest may appear, and eacA a~d eve~y such po~~cy shalt ba promptly ass gned and del~vered ~o ;
any held by said MOR(GAGfE as {urther security lo said mortgage debt, and, not less than ten (101 days in advance of the expiration of each policy, to da
live~ to said MORiGAG~E a rel~ewal the~eof, togelher with a receipt for the p?emium of such renewal; and there ~hall be rw i~re o~ winds~orm insursnce
placet! on any of sa~d bui!d~ngs, any interest therein w par~ thereof, unless in the form and with the lou payable as afaesaid; a~d in the event any ium
of mo~ey becomes payable u~der such policy a policies said MORTGAGEE shall have the oprion to ~ece~ve and apply the same on account of the indebted-
ness secu~cd hereby or to permit said MORTGAGORS ro recri~e and use it w any part thereol tor ori,er purF.cses. .v~~hout ~h~r~u~ ~va~~~ng o~ ~mpa~r-
ing any equity, lien or r~9ht ~nde~ or by virtue of this mo:'gage; ar+d in the event sa~d MORTGAGORS ahall fw any reason fail to keep ~he sa'rd premises so ~
in~ured, or (ail fo deliver promptly any of sa;d policies o( insurance to u~d MORTGAGCE, w fai~ promptly io pay fu11y any prz~nium thcrefor w ~n any
resped fail to perform, d~scharge, execute, effect, complete, comply with and abide by this covenant, w any par? hrreoi, said MORTGAGEE msy ptace and
pay fw such insurance or any part thereof without waivirq or affecting any option, lien, equity, w right under o~ by virtue of this Mo~tgage, ~nd the '
~
full amoun~ of each and e~ery such payment shall be immediately due and payable sr+d shall bear interest from the data thereof until paid at the rate ol
nine per ce~tum per annum and together with such i~te~est shali b• secured by the lien oi this mortgsge.
1. To permit, commif a sufFer no waate, impairment o~ dctericration of said property w any ps?t thereof.
5. To pay alf and singular the costs, charges and expenses, including a~easonable attwney's fee and costs of abshac~t of title, incurred or paid af
any time by aaid MORTGAGfE, because w in Ihe event of the failure on the part oi the said MORTGAGOR ~o duly, promptly and futly perform, d~scharge,
execute, effect, complete, comply w~th and ab;de by each and every the stipulanons, agreements, condieions, and covenanrs of said prom~ssary note and this
mortgage any w eirher, and sa;d tosts, chargea and expenses, each and every, shall be immediately due and payable; whether a not thert be notice dr
mand, attempt to collect w suit pend~ng; and the full amount of each and every such payment shalt bear interest from Ihr da~e thereof unril paid a1 the
ra~e of nine per centum per anuu:n; and ail said costs, cha~ges and e~penses incurred or paid, together w~~h,such intereit, shall be secured by the lien of th~s
mortgsge.
6. That (a) in thr event of any breach of tnis Mortgage or defaulf on tF~ part of the MORTGAGOR, or {t; in the eveM any of sa:d suma of money
herein referred to be not p~omptly and fully paid within thirty (30) days next afrer the sa~ne severally become due and payable, without demand or notice,
or (c) in the event each arx! eve~y the stipulations, agreercents, cond~tia~s a~d covenanfs of sa:d promisso~y note and fh~s mortgage any or e~ther are nol
iuly, prompily and i~lly per(ormed, d+scharged, executed, effected, compfeted, compiied with and ab~ded Sy, then in ~ither w any such eveM the uid ag
gregate ~um mentioned in said promissory note then remaining unpaid, with in~erezt accrued, and all rtwneys secured hereby, shall become due and pay-
ab!e forthwith, or thereafter, at ~he option of said MORTGAGEE, as fully and completely as it a11 of the said sums of money were w~ginally sl~putated
ro be pa~d on such day, anyth~ng in sa:d prom~sswy nore or in rh'ss Mwtgage to the cor,~rary notwiths~anding; and thereupon or thereafter a~ the opt~on of
said MORTGAGEE, without not~ce or demarxl, suit at law or in equity, the~efore w thereafter begun, may be prosecuted as if all moneys secured hereby
had matuted pnot to ~ts institutior~.
7. That in the event that at the beginning of or at any time perfdirg any su;? upon fh;s Mortgage, or to ioreclose it, or to refwm it, or to enforce
payment oi any claims hereunder, said MORTGAGEE shall apply to the Court having jurisd~ction thereof for the apFw~ntment of a Receiver, such Court shall
forthwith appoint a receiver of said mortgaged prooerty all and singular, inctud~ng all and s~ngutar the income, prof~ts, iss~es and revenues lrom whafevet
sevrce de~ived, each and every of wh~ch, it being expressly unders~ood, is hereby mo~tgaged as if spec~ficaUy set iwth and desaibed in the granting and
habendum clauses hereof, and such Receiver shal~ have all the broad and eifective funct~ons and powers in anywise entrusted by a Court to a Receiver, and
such appointrt:ent shatl be made by such Court as an admiued eqv:ty and a mairer of absolute r~ght to said MORTGAGEE, and w~~hout reference to the
adequacy or inadeyuacy of the value of the property mo~tgaged or to the toivency or insotvency ot sa~d MORiGAGOR or the defendants, and that such
rents, proiits, income, iss~es and revenues ehall be appiied by such Receiver accord~ng to the lien or equity of said MORIGAGEE and the pracfice of sucF~
Court.
8. To duty, promptly and fully perform, d~scharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreementi,
co~ditions and covenants in sa~d promissory note and this mortgage set forth.
9. That in fhe event the ownership of the mortgaged premises, w any parf ti~e~eof, becomes vested in a person olher lhan the MORTGAGOR, the
h10RTGAGEE, its successors and ass~gns, may, without no~ice to ~he MORTGAOR, deal with such successor or successor in interest with reference to lhis ~
mortgage and the dcb~ hereby secured in the same manner as with Morlgagor without in any way vitiating o~ dischargir~g the Mortgagori liability herr
under or upon the debr hereby sec~.ed. No sate of the Frem;ses he.eby mortgaged and no fwbearance on the part of the /~10RTGAGEE or its successors j
or assigns and no exrers~on of the time for the payment of the debt hereby secured given by the MORTGAGEE or its successas or assigns, shall operate :
ro release, dixharge, mo~~fy change o~ affect the original liau~l~ty cf the MORTGAGOR herein, either io whole w in parl. i
10. It is speuficatty agreed that time is of the essence of this connact and that no waiver of any obtigat~on hereunder or of the obligation se- ~
c~red hereby shali at any time tFtereafter be hetd to be a waiver oi the terms hereof w of the instrument secured herby. ~
r
11. In add ro~ to ~he forego:ng month!y payments of princ pal and interest requ~red by the p~pmissory oo!e secured hereby, mw.tgagor covenants
and agrees to pay to rrortgagee w+th each mo~thty pay~aent an add~rional sum est~mated by mortyagee to be equal to 1 j 12 of the annual cos~ of the follow-
ing:
A-All real property taxes levied or assessed agaiast thc above described real estate.
B-Prem:wns on fire and windstorm insuraRCe as herein requ:red to be carried on the ~mprovements situate on the above described premises.
C-Premiums on such mortgage guaranty insurar~ce ai mortgagee shalt from t~me to time deem fit to carry on the loan secured hereby.
Mortgagee shall f~om Iime to time notify mortgagor in writi~g of the amount due and payable hereundtr and such sum shall thereupon be d~e and
Fjyable on the due date of the next monthly payment ar.d each successive month thereafter ur.til mortgagee shall notify mortgagor of a change in such i
amou~t. Such sums sFa:l be appiied by marrgagee toward the payment of real property taxes, insurance prem:ums, and mortgage guaranty insurance '
~ premiums. ~ ~
IN Y~ITNESS WNERiOf, the said MORTGAGOR has hereunto set h~s hand and seal the day and year f' aforesaid.
' ned, Seat an d' ed in the presence of:
s~ ~
_ ah
.
(Sean j
~ ~,t / ~Z~v~/`x/?J '
^ ~ -~Se+n
i
i rkap
` STATE OF fLORiDA ~
~ COUNTY OF St• L12Ci@
! Befwe me penonafly appeared _ IP.A WPatrPt'
~ ar+d
; 1'~1ZC~Y~CC1 L. Weaver his w~fe, to me we!! known and known lo me to bs
t the ind~viduals described in and who exec~ted the faegoing instrument, and acknowledged before me that they executed the same fw the purpose~
~ therein expresxd. And the said Mildred L. Weaver
wife of tiie said ~O Ci• Weaver upon a sepsrate snd privats
examinar'wn by me taken separate and apart from her said husband, acterawiedged to and before me that the execvted said 'erotrumenl freely aru! rolurr
ranty ar.d without any compulsean, constraint, apprehensiol+, or fear of or from her said lwsbsnd. ~
WITNESS my hand and offic;al seal this ~ t"s day of December { Y':'`,"
N k ~y D.,~:,-~-
C~ ~ -T. ~s~c~.-~c..i : ' " ' • . : : .
Notary Public in and fw the State.of f~lot~ida.~iQ~r'
My Commiuion expires: -3r~ w •
Ret;rm ro: ~~~ED AND RECORDE~'., . ~ -
finf fedenl Savings a loan Assatiation ~ : ;
Of Fort P~erce. ST. LUCIE COUNTY. F`A' '
fort Pierce. ftorida t?G CQ~'.J V~RI~IED / h ~ . , ;
186363 . , .
~ ,~a nE~ Z ~ g:l0 ~ ~ ~
This Instrument Prepared By Johrt W. Co7~l.n+J ~
First Federal Savings & loan Association
of Fort Pierce ~ Flolida ~i~ ~p~TRas
Checked By ~ ~~ERK CIRCUI? COURT:
Boo~~$1 ~E~.O~~ : .
~ ~
f
_ ~
, _ ~
~~~~z:~ ~.r. , ~ _ ~ -