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HomeMy WebLinkAbout1169 3. To place and continuously keep o~ the bui:d~ngs now a he~eafter ~~tvate on sa~d tand and on all equipment and personally covered by this maty- ~gs, with all premiums thercon pa:d in full, fire ins~rante in the usual :eandard po~Ky form, in a sum approved by ~he MORTGAGEE, and wi~ds?orm insurance in the usual itanda~d pol~cy 1am, in a sum •pproved by ~he MORIGAGEE, in tuch tanpany or companics as the MORTGAGEE may direch and all (ire and windslo~m insv~a~ce po~~ues on any of ae~d bvild~ngs, any inrerest therein or pa~t !hereoi, in the agg~e9are sum aforesaid o~ In eatess thereof, shall comain the usual srandard ma~gagee clause or suth olher ctause ss the Mortgagee may rcqu~rs, maMing ihe losa under sa~d polt cie~, each and every, payable to said MORTGAGEE as i~s inrerest may appe~r, and each and every such poi~cy shail be promptly ass.gned and deGvered to ~ny held by ~ald MORTGAGEE as further sztu~ity to said mortgage debt, and, not leu than ten (10) days in advance oi ~he eap~rat~on of each poGcy, to da liver to said MORTGAGEE a renewal Ihereoi, together with a reteipt (or the prem~um of such renewal; and there shall be ra f~re o~ winds~o~m insurance placed on any oi sa~d b~ild~ngs, any interest there~n o~ par~ ther~of, unless in the form snd w~th ~he loss payable as afcresaid; and in the event any sum of money becomes payabte under such poliq a poGcies said MORTGAGEE shall have ~he opf~on to recerve and apply the same en accoum of the indebted- ~ ness secured h~reby w to perm~t said MORTGAGORS to recrive and uss it w any pmt thereof for oti,rr puruosrs, v.~~hcvt th_irb~ warv~:~~ or unpair ing any equ~ty, lien or right under w by virtue of this mo:tgage; and in the evcnl sa;d MORiGAGORS shall fw any reason fail to keep the said premises w insured, or fail ~o del~ver pr~nptly any of said po~~cies of insurance ~o sa~d MORTGAGEE, o~ fail prompdy to pay fully any pre~n~um therefw w in a~y respect fail to pe~Form, d~scharge, execute, efiect, comp:ete, comply with and sbide by ih~s cove~ant, a a~y part he~eof, said MORTGAGEE may place and pay for such inaurance or any parl thereof wifhout waiving or affacting any option, lien, equity, or right unde+ or by virtue of fh~s Matgage, and the full amovnt of each and every such payment shatl be immediately due and payable and shall bear interest fran +ha date thereof until paid at the rate ol ; nine per centum per annum and together with such interaat shall be secured by the lien oi this mottgage. ; 1. To permit, commit or sutfer no waste, impairment a deterioration of uid property w any part thereof. ! S. To pay all and singular the costa, charges and expenses, inctudirg a reasonable a~tor~ey's fee and cosrs of abstracts of title, incurred w pa~d at any timr by iaid MORTGAG:E, because w in the event of the failure o~ the part of the said MORiGAGOR to duly, promptly and fu~ly perform, d~uharge, ~ execute, ei(eu, comptete, comply w~th a~d ab:de by each and every the ati~ulations, agreements, conditions, and covenants of sa~d promissory oote and thi~ ~ mwtgage any w eifher, and sa:d costs, charges and expenses, each and every, shall be immediately due and payabte; wheiher or not the~e be notice de , mand, attempt to collcd w suit pend~ng; and the fu~l amount of eacA and every such pay~~ent shall bear interes~ from the date thereof until paid a1 the : rate o~ nine per centum per am~um; and alt said costs, charges and expenses incurred w paid, together w~th such iMerest, shall be sccured by the lien of this ` mortgage. 6. That (a) in the event of any breach of this Mortgage or default on Ihe part of the MORTGAGOR, or (b? in the evrnt sny of ~aid sums of money herein referred to be not p~anptly and (ully paid within th~rty (30) days next afrer the same severatly become due an.i payable, without demand w no~ice, or (c) in thr event each and eve~y the stipulations, agreements, co~d~sions and covenants of u;d promiswry note and th~s mortgage any or either a~e no1 ~uty, promptly and iulty per(ormed, d~scharged, executed, effected, complered, complied with and abided by, then in either w any such evenl the said a¢ gregate sum ~~entioned in said promisswy note then remaining unpaid, with interest sccrued, and all moneys secured hereby, shall become due and pay- ab~e forrhw~th, w rhereafeer, at the oprion of said MORTGAGEE, as fully and compleiely as ii all of the said sums of money were or~ginally st:pulated ' to be paid o~ such dty, anything in sa:d prornisswy note or in this Mortgage to the contrary notwithstanding; and thereupon w therealter at the oplion of sa;d MORTGAGEE, w~rhout not~ce or demand, suit at law w in equity, therefwe or the~eafter begun, may be prosecuted as if all rrwneys xtured htreby had mawred pnor to ~ts instit~tion. 7. That in the event that at the beginning of or at any time pending sny suit upon lhis Mortgage, a to foreclose ii, or to reform it, or fo enfwce payment of any claims hereunder, said MORTGAGEE shall apply to the Cov~t having ~urisdiction the~eof for ~he appointment of a Receiver, such Court ihall Fwthwith appo:nt a receiver of said mwtgaged property all and singutar, includ~ng ail and si~gular the income, profits, issues and revenues from whatever source derived, each and every of wh~ch, it being expressly unders~ood, is hereby mortgaged as if spec~~ically sN forth and desuibed in the granting and habendum ciauses hereof, and such Receiver shall have ell the broad and efiecrive funcnons and powers in anyw~se entrusted by a Court to a Receiver, and such appointment shall be made by svch Court aa an ad~nitted equity and a matter of absolute right to said MORTGAGEE, and without reference to 1hQ adequaq o~ inadrquacy of the value of the property mor~gaged or to the soivency or ~nsolvency of said MCRiGAGOR or the defendants, and that such ~ents, profits, inco:ne, issues and revenues shal! be app~ied by such Receiver accord:ng ~o the lien or equity of said MORiGAGEE and the practice of such Court. ' i ' 8. To duly, promptly and (ully perform, discharge, execute, effect, complete, compty with and abide by each and every the stipulations, agreements, ~ tonditions and covenants in said promissory note and th~s mortgage set forth. 9. That in the event the ovvnership of the mortgaged premises, or any pa~t thereof, becomes vested in a person other than the MORTGAGOR, the MORTGAGEE, its successws a~d assigns, may, wi~hout noiice to the MORTGAOR, deal with such successw or successo~ in interest with reference to this mor~gage and the debt hereby setured in the same manner as with Mortgagor w~thout in a~y "way vitiating o? dixharging the Mortgagors' liabilify herr under or upon the debt hereb~ secured. No sale of the premises hercby mortgaged and no forbearance on the part of the MORiGAGEE or its successws w ass~gns and no exrens~on of the time (or the payment of the debt hereby se:ured given by the MORTGAGEE or its successors or auigns, shall operate lo release, d~scha:ge, modify thange or affett the original liab~lity of the MOR~GAGOR herein, either in whole or in parf. ~ 10. N is speuiicatfy agreed that time is of the essence of this contract aM! that no waiver of any ob~igat~on hereunder or of the obligaflbn se- tured hereby shali at any time ~hereafter be held to be a waiver of the terms hereof or of the instrumeM secured herby. I l. In add.t:o~ to the forego ng month!y paymeNS of princ pal and iMerest required by the prom~ssory no!e securrd hereby, mwfgagor eovenaros aid agrces to ,~ay to n,o:tgagee wdh each monthly payraent an addaional sum es!~mared by mortgagee to be equal to l;' 12 oi the annual cost of the foilow- 'ng: A-AII rcal prope.ty taxes lev~_d or assessed against thc above described real estate_ ' B-Pr~~~,.~u~ns on f~re and windstorm insurar.ce as herain required to be carried o~ the ~mproveme~ts situate oo the above described premises_ C-Premiums o~ such rr.ortg3ge gua~anty iRSUrance as mortgagee shatl fro:r. t~me to time deem fit to tarry o~ the loan secured hereby_ Mortga~ee s!:a~l ':em Nme to time notify mortgagor in writ~ng of the amoum due and payaole hereundrr and such surn shall thereupon be due and payable on the c've date cf the next month!y pay~nent and each successive month thereafter ur.til mortgagee shall noti(y mortgagw of a change in sexh amount. S~ch sums sFa'~ be app!ied by mwtgagee toward the payment of real property taxes, insurance prem:ums, and mortgage guaranty insurance premiums. N V~ITNE:.S Y1NE EOF, the said MOR R has hereunto ut his hand and sea! the day and ear first afwesa~d. Signed, ated~ deli r in the prese e of: o ~ a~ , n s ess=e R. th ~s~ - csea~) . aret Booth STATE OF~~R~ ` } s$. COUNTY OF ~ 8efore me perwnally appeared Jessie R. ~OOt]l end l~arc~aret 800tt1 his wife, to me well known and known to me to be t~ e individuals desvibed in and who executed the foregoing instrument, and ackrrowledged before me that they executed the same for the purposes therein eaprossed. And the said AlarqaYet BOOttI wife of the said Jessie R. QOdt}1 vpqn e,se~rafa~and privat~ ~ examination by me taken separate and apart from her said huslsand, ackrawledged to and beiore me that she executed said truttutnem. freely and voloo- ~ larily and without any computsion, constraint, apprehens~o 0 1t~v of or from r said husband. . . ~y , WITNE55 my hand and official seal this day o " ` A. D. 19~~ ~ I ~ i otsry Public in d fw the State of~El~iid~~(~rye ; My Comm~ssion expires: veo~ . ~ Retum To: ' ~ . • . ~ Fint Federal Savings a Loan Associat~on • - , 3 Of Fort P~erce. ~l~~Q Aa8 R~(~`QRB~~~ Fort Pierce, Flcrida S. •~`~"~`t'~'_~~`Q~, j~ 'FL:A' ~y~/O~ y~ ; ~i~-.^(t•~~ ~'l~`~u~ ~Ofri. EIfP. ~ i 186441 ~ This Instrument Prepared By John l:. Coll~p~ C~C 3 Q~ 9~ 02 ~ First Federal Savings 8 Loan Association 0 ~ ~ of Fort Pierce, Flozida ~/~0~ ' Checked By _C.~- ~ ~~a; = ~r._~ ~ CL~RK Cl~CUI~ COURT ; ~ 800K~81 PACE11~j8 ~ ~ ~ ~ ;w ; - - - _ ~ v . _ . _ _ . . _ , .