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HomeMy WebLinkAbout2441 ; , 3. To place and continuousiy keep on the bu~!dinga rtow w hereaft~r situate on sa~d tand and o~ aN equipment and pe?sonaily tovered by this mwtg- p~, with all premiums Ihercon paid in fv~l, fire insurante in tFa usual uandard potity form, in a sum epproved by Itie MORiGAGEE, and winditwm ins~~ance i~ the usual standard pol;cy fam, in a sum app~oved by ihe MORTGAGEE, in such company or canpa~~es as the MORIGAGEE may dirett; ~od alI fi~e and wlods~orm insurance policies on any oF said build~n~t, any interoat therein o? p~~t thereo(, in ~he +99«4ate tum ~faeiaid w M exte» thc~eof, shel) contain 1he usual sNndard mwtgagee clause or iuch other tlauss ss Ihe Mortysgee may requ~rs, maMing the lo~s under sa~d po1F cies, each and eve?y, payable to said h10RTGAGEE as its intereit m~y ~ppea~, and each and every such policy shall kx promptly +is.gned a~d detivered ~o ~ny hek! by said MORfGAGfE as {urther setu~ity to said matpage debt, and, not leu tF.an ten (10) days in advance of the expirat~on of each policy, to d~- liver to uid MORTGAGEE a renewal thercof, topether with a receipt fw the premium of such ~enewal; and tF~ere shall be no f~re or w~ndsrorm in~urance ~ pl~ced on ~ny of ssid build~ngs, any interest therein w part rhereoi, unless in tbe form and with the lou payable as aforesaid; and in the event sny ium ~ of money becomes payable under such policy w pol~cies said MORTGAGEE shall have ~he option to receive and appty the same on account of ?he indebred- ~ neu secured he~eby w io permit sa~d MORiGAGORS to receive and uu i~ or any part thereof t~r orher pwposes, wi~hout th=rtb~ wa~ving or unpair- inp any equ~ty, lien or right under d by virtvs of this masgage; and in the event sa~d MORTGAGORS sAall fa any reawn fail to keep the said premises ao insvred, a fail to deliver pror~~ptly any of said policies o) i~iurance to said MORTGAGEE, w fail promptly to pay fu(ly any prernium theretor or in any rosped tail to perform, d~scharge, execute, effecf, comptete, comply with and abide by this cove+wM, or any parf hereof, said MORTGAGEE may pl~ce snd psy fw such insuranc~ or ~oy psn thereof wi~hout waivinp a a(fectiny any opfion, lien, equ~ty, w rigM under or by vir~us of th~s Mortgage, and the S full unount of each and every such payment shall be irtunediately due and payable ~nd sha!! bear interest from the date thereof until paid at ths rate ol ~ oine pe~ canrum per annum and to~erher wifh such interest shali be secured by ths lien of thls mortgage. 1. To permit, tommit ot suffer no waste, impairment w de~erioratio~ of said p~operty ot eny part thereof, 5. To pay sll and singuiar the costs, charges and expe~set, including a reasonable attwney's fee a~d cos~s of abstracts of fitte, incurred or paid at any time by said MORTGAGfE, because or in the evenf of the ~aifure on rhe part of the sa+d MORTGAGOR to duty, promptly ~nd futly perfum, d~uharge. execute, efieu, comp:ete, comply w~th and ab:de by each and every the stipuia+ions, agreemenfs, conditions, and covenanTS of said pramissory ~ote and this mongage any or e~thcr, and said tosts, chargts and expenses, esch and every, shall be immediatety due a~ payab:e; whether or not there be notice d~ mand, attempt to cottect or suit pend~ng; and the full amount of each and every such payment shall bea~ interest from the data thereof until paid at the i rate of nine per centum per annum; and all said costa, cha~ges and ezpenus incurred or paid, together wi?h such interest, shall be secured by the lien of thi~ mwlgaQe. 6. Thst (a) i~ the event of any breach of this Mortgage or defav~t on the part of the MQRTGAGOR, or (b) in the event any of sstd sums of money herein referred to be not p~or.~ptly and (ully paid within thirty {30) days next after the same uverally become due and payable, without demand w notica, or ;c) i~ the event each and every the stipulafions, agreements. cond~tions and covenant~ of sa;d promiuory note and th~s mortgage any w either are not ~uly, promptly and fully peifwmed, d~uharged, eXecuted, effected, completed, complied with and abided by, then in either or any such eveM tha ssid sg gregate sum rt+entioned in said promissory note then remaining unpa~d, with interest accrued, and alt mo~eys secured hereby, shall become due +nd pay- able forthwith, or thereaffer, at the opr~on ef sa+d MORIGAGEE, as fvlly and comple?eIy as if all of the sa~d sums of money were w~ginally st~pulated to be p~~d on such day, anything in sa;d prom~sswy note w in this Mor~gage to the contrary notwithstandi~w; and thereupw? w thereafter at the op~ion of said MORiGAGEE, w~ihout notice w demand, suit at I~w a in equity, therefwe a the~eafTer begun, may be prosecuted as if all moneys securad hNeby had matuted pr~or to its institution. i ; 7. That in the event that at the beginning of w at any time pe~ding any suit upon this Mortgage, w to faeclose it, or to refwm it, or to enfwce t paymeN of any cla~ms hercunder, uid MORTGAGEE shall appiy to the Court having jurisd6ction thereof for the appo~mment of a Receiver, such Court shall ( fwthwifh appo'+r.! a receivei of said mortgaged property all and singular, includ~ng all and singular Ihe income, prof~ts, issues and revenues from whatever source derived, each and every of wh~ch, it be~ng express~y understood, is Fureby mortgaged as if speuficatty set forth a~d dew76ed in the granting and habendum cfauses hereof, and such Receiver shali have a!! +he broad and effective funcnons and powers in anyw~se entrusted by a Cou~t to a Receiver, snd such appoinrme~» shall be made by such Court as an admitted equity and a matter of a5solute r~ght to said MORTGAGEE, and wiehout reference to the adequacy a inadequacy of the value of the property mortgaged or to ti?e soivency or insolvency o( said MORTGAGOR or the defendants, and that such renrs, profits, incane, iuues and revenues shall be applied by such Reteiver according to the iie~ or equity of said MORTGAGEE and the practice of such Court. } a 8_ To duly, promp:ly and fully perform, d~scharge, execut~, effect, comptete, comply w~th anc! abide by each and every the stipulations, sgrcements, conditions and coveRanrs ~n u~d promisswy note and this mortgags xt fwth. 9. That in the event the ownership of the mortgaqed premises, or any parf ihereof, becomes vested in a perwn other than the MORTGAGOR, the MORTGAGEE, its succes:ors and assigns, may, without notice to the MORTGAOR, deal with such successor or succeswr in interest wi~h reference to thia { mortgage and the debt hereby secured in thc same manner as with AA~rtgagor without in any way vitiating or dixharging the Mortgagori lisbility hertr : under or upon the debt hereby securEd. No sale of the premises hereby mortgaged and no forbeararKe on the pan of the MORTGAGEE or its successors ~ w asigns and no eatens~on oF fFe time for the payment of fhe debt hereby setured given by the MORTGAGEF or its successors a assigns, shall operate F to release, discharge, modify change or affect the original liabil~ty of the MORiGAGOR herei~, eithcr in whole w~n par!. ; , 10. It is spec~`ically agreed that time is of the esxnce of this contract and that no waiver of any obl~gatio~ hereunder or of the obligstion se- ; cured hereby shail at any time thereaiter be held to be a waiver of the terms hereof or of the instrvmenl secured herby. ~ 11. In aod:ilo~ to fhe fo!egang monthly payments of p~iot'pa) and interest required by the prom~swry note secured hereby, mortgagor tovenants ~ and ag~ees to pay to mortg3gee ~nith each mo~thiy pay~nent an add~rional sum est~mated by mortgagee to be equal to 1/12 of the annual cost of the follow- ing: A-All reaI praperty taxes leviec' or assessed against the above desc~ibed real estate. B-F'reni~vms on fire and windstorm insurar.ce as herein req~:red ta be carried on the imptoveme~ts situate o~ the above destribed premises. C-Premiums on svch mortgage gvaranty insurar~ce as mortgagee shall from t~me to time deem fit to carry on the loan secured hereby. Ma:tgagee sha'I from t~~ne to t~me notify mortgagor in writ~~g of the amount due and payabte herEUnder and such sum shall thereupon be due and ~ payable on the due date of rhe next monthty payment and each successive month thereaiter ur.til mortgagee shall notify mortgagor of a change in suth amount. $uch sums sha:I be app:ird by mwtgagee ~oward the payment of real property taxes, insurance prem:ums, and mortgage 9uaranty insurance - p~emiums_ IN WIiNE~S WHEREOF. the sa7d MOR7GAGOR has hereunto ut his hand and seal the day ard year ' t aforesaid. ; Si9n Sealed and de~l'` reLd he p? nce of: ~ ~ ~C~"~i~y-~ " •~j ness rry . r ; Q~tL ~ ess ~ ~ . tag Sean STATE OF FLORIDA ~ ST. UUCIB u- COUNTY OF _ Befo•e me personally appeared ~tly H. Sehrag Alice E. Schrag hi~ wiie, to me well known a~ known to me to be the individuals described in and who executed the foregoing instrument, ar?d sckrawtedged before me that they executed the same fw t1ro purposes j Alice E Schrag ~ tF~erein expressed. And tlx sa~d • wife of the said Harry H. Sehrag ~p~ a~rate ~nd privat~ examinat~on by me taken sepsrate and apart from her said husband, adcnowledged to and befo~e me that she executed said instrument freely and volun- ` tarily a~d wit?w~t any compulsiw~, constraint, apprehension, _Ql~ear of or from tKt iaid husbartd. : WITNESS my hand and official scal this day of Decembez a p_ ~y 69 ; FILED AND RECORDED' ~ ST. LU C ~ E G 0 U . •/Jotary ?ublic i and for the tate of Flor' a,at '{afps : i, ~ ~ ~f f~• uvy , ~ My Commiu'wn expires: J ~ ' f `'~s 1 Return To: ~ ~ Firit Federal Savings a toan Associat~on ` NOTAQY Fi13LIC. S?ATE OF FLOlf:^A ' k,'~~ ~ Of Fort P;erce. ~ 6~ ~ C(? 9 2 ~~j • ~Y COMN,(5SlON EXPlP.ES S~PT. ~t-'°~ _.,r C v L /{I'I 8 ONDED TM110YaM _ F R E D W. D tE S H a ~ )•:i ' Fort Pierce, Florida I~~ y t`' ~ ~ ~ - • f^. ~ _ - ~ ~ Q`~~R ~'OI7R~S ~ This Instrument Prepared Ry J. ~:E~i~~~t~?T COURT; ' - First Federal Savings & Loan Association y~ of Fort Pierce , Florfda ~ Checked By ~ ~ ~ i Baax~~1 P~~244~ , ~ ~ ; - j . . . . _ ~ . . . . . . . ' ,a S"#~~.