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HomeMy WebLinkAbout2851 9. To plac~ ard continvousty kceproo the bu~!d:ngt now w MreaftN ~~twte on sa~d lend and on all equipmenl and penonally covered by Ihi~ mo?tp- ~gt, wirh al! p~emiums the~con ps;d in full, fire insuronte in ~he usual standard po~ity form, in • sum approved by the MORiGAGEE, and w~~ditwm insuronce in she usual srandard pol~cy fam, in a ~um ~pproved by tht MORTGAGEE, in such company o~ compa~~es as the MORTGAGEE may direclj and ~II fire and winds~o~m iniurance policie: on any of said bu~ld~nps, any intereil the~ein o~ part Ihereof, in Ihe aggregate sum aforesaid w in excess thereof, shall contain the u~ual standard ma~gagee clause a such other clause as Ihe Mw~gagee may requ~rs, making thc loss under sa~d poli- ues, each and eve~y, payab~e to sa~c1 MORTGAGEE as :ta inte~e~l may appear, and each end every sucA polity shall be p~ompUy ass.gned and delivered ~o +ny hetd by uid MORTGAGEE as iuriher sec~rity to ssid ma~yage de6t, and, not leu tha~ ten (10) days in advance o1 ~he expi~at~on of each policy, to da liwr to taid MORTGAGEE a ~enewal there,~f, toge~her with a receipt to~ ~F?s premium of such renzwal; and ~here shali tx no f~re or w~ndsto~m insurance placed on ~ny of said build~r~gs, any interest the~e+n a part thereof, unlcss in the form and wi~h ~he loss payable as aforesaid; a~d in Ihe event any ium of money becomes payable unda such Nolicy w policies said MORTGAGEE shall have tM option ro rcceive and apply the same on accoun~ of the indebted- neis aKUr~d hereby w 1o permit said MORTGAGOR$ to feceire and use if p eny pa~f thereof fo~ ornr~ pu~poses, wi~ho~t th~rau/ waivi~~g o~ unpair- ing any equiry, lien a r~ght under or by virwe of this mo:tyage; and in Ihe event ta~d MORTGAGORS shall fa any reason fail to keep the said premises so insured, o~ fail lo deliver Fromptly any of said policies of insurance to sald MORTGAGEE, w fail promptiy to pay iulty any premium therefw a in any reepect (ait to per(orm, d~scharge, rxecute, effect, complete, comply with and ab~de by this cove~ant, or any par~ hereof, s.+id MORTGAGEE may place and pay fw such insurante or any part thereof without waiving or ~ffectinp any option, lieo, equity, a right under a by virtue of this Mortgage, ~nd the tull amount oi each and e~e~y such payment shatt be immediate~y due and payable and shall brar interest from the date thereof until paid at ths rate ot nine per tentum per annum and togethe? wirh such interest shall be secured by the lie~ of this mortgage. 4. To permit, commit w sufFer no waste, impairment w deterioration of said praperty w any part thereof, i S. To pay all and singutsr fhe costs, cMrges and expenses, including a reaso~able ananey's iee and coats of abstracti of titte, incurred or paid ~ any time by said MOR~GAGfE, because a in the event of the failure o~ the pan of ~he said MORTGAGOR to duiy, promptly and fully perfam, diunarge. execute, e(fea, complete, co+nply w~th and ab:de by each and every the stipulaiions, agreements, tonditions, and covenants oi said promissory r?ote and thii mortgage any or e~fher, and sa~d coats, charges and expenses, each and evcry, shati be immediatety due and payabte; whe?her w not there be notice de mand, attempt to collect w suit pend~ng; and the full amovm of each and every such payment shall bea~ imeron~ from ~he date thereof until paid af the rate ot nine per centum per an~~um; and all said costs, charges a~d expenses inturred or paid, togNher w~th such interest, shatl be secured by the lie~ of fhis mortgage. 6. Thaf (a) in the event of any breach of tbis Mortgage o? defautt on the part of the MORTGAGOR, or (b) in the event any of said sums of money herein refer~ed to be not promptly and fully paid within thirly (301 days ~x1 aiter ~he same seve~afly become due and payab[e, without demand or notice, or (c) in the evem each and every the st~pu~ations, agreements, condirions and covenants of sa~d promissory note and ~h~s mortgage any w either are not ' ~uly, promptly and futly perfwmed, d~scl~arged, executed, effected, completed, complied with and abided ~y, then in e~ther w any such e~ent the said ag- { gregate sum mentioned in said promissory note tF.en remaining unpaid, with interest atcrued, and atl rtwneys secured hercby, shall beca~ne due and pay- ~ able fwthwith, o+ rhe?ealter, af ~he option of aaid A50RTGAGEE, as futly and completety as if all ef the said sums of money were aginslly st~pulated to be pald on suth dey, anything in sa:d prom~sswy note or i~ this Mortgage to the connary notwithstanding; and thereupon or thereafter at the option ot said MORTGAGEE, without not~ce o? demand, suif at !aw or in egvity, therefore a tbe?eafter begun, may be prosecuted as if all mo~eys secured hereby h3d maWrtd ptrot to its institution. 7. That in the cvent ~hat at ~he beginning of w at any time pending any suit upon this M.ortgage, a to foreclose it, or to reiorm it, or to enforce payment of any tlaims hereunder, said MORTGAGEE shall apply ro rhe Court having jua+;d;ction thereof for the appointment of a Receiver, such Cou?t shall forthwith appoint a receiver of said mortgaged property aIl and singular, iwtlud~ng all and singular the income, profits, issues and revenues from whatever source derivcd, each snd every of .;::~ch, it being expressty understood, is hereby morrgaged as if spec~fically set fwth and destribed irt rhe Q•anri»p and habendum clauses hereof, and such Receiver shatl l~ave a~l the b?oad and effecrive funct~ons and powers in anyw~se entrusted by a Co~rt to a Receiver, and such appointment shall be made by such Court as an admitted equity and a matter of absolute right to said M.ORTGAGEE, and without reference to 1he adequacy or inadeq~acy o1 the vatuc of the property mortgaged or to the ~otvency or insolvency of said MORiGAGOR or the defendants, and that such rents, profits, income, issues and revenues shall be applied by such Receiver according to the lien or equity of said MORTGAGEE and the practice of such Court. ~ 8. To duty, promptfy and fulfy perform, dlscharge, execute, effecr, complete, comply with and abide by each and every the s'~pulations, agrtements, ~ conditiona and covenants in sa~d promisswy notp and this mortgage set forth_ ~ 9. That in the eve~~t tF~e ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the ° MORTGAGEE, in successws and auigns, may, withovt notice to the MORTGAOR, deal with such successor or svccesso~ in inlerest with reference fo this moffgage and the debt hereby secured ir? the same manner as with AM1ortgago~ without in any way vitiating w dixharging the Aiartgagori liability F?err under or upon the debt hereby secu~ed. No sale of the premixs hereby mortgaged and no forbearance on the part of the MORTGAGEE or its succeswrs cr ass+gns an~ no earens~on oE rhe time fa the payment of fhe debr heieby secur~d given by the MORTGAGEf or its successors or assigns, ahatl operate ro release, discharge, modify change w affect the original liabil~ty of fhe MORTGAGOR lxrein, eilher in whole cr in part. 10. It is spec~f~cally agreed that time is of the essence of th~s contract and thal no waiver of any obligat~on hereunder or of the obtigalion sr cured hereby shali at any time thereafter be held to be a wairer of the terma he~eof w of the instrument secured herby. 11. tn acid;i:o~ to the faego:ng monihly paym~nts of princ'pa1 and interest req~~red by the promiswry no!e secured hereby, morigagor tovenants and agrees to pay to martgagee vcith each morohly pay~nem an a~d~~ional sum est~mated by mortgagee to be equal to 1 j l2 of the annual cost of the fotlow- irtg: A-AI? real property tazes ievied or assezsed agai~st thc above destri5ed real estate. B-Prem~u~rs on f~re and windstorm insurar.ce as herein requ:red to be ca~ried on the improveme~ts sit~ate on the above described premises. C-Premiums o~ wch mortgage guaranty ir.wrar~ce as mortgagee shall from t:me to time deem fit to carry on the loan sewred hereby. y , Mortgagee shall from time to time rwt~fy mortgagor in wrinng of the amount due and payabte here~nder and such sum shall thereupon be due and Fayable ort the due date of rhe next monthty payment a~d each successive month thereafter ur:til mortgagee shall not~fy mortgagor of a change in such amount. $uch sums sFail be applied by matgagee toward the payment of real property taxes, insurance prem;ums, and mortgage guaranty insurance premiums. + i N WITNESS WHEREOF, the said MORTGAGOR has herounto xt his hand and seal thr day and ar fint afweuid. 5gned, Sealed and delivered in the presence of: ~ a~ Y • ~ ~ L1~1~:1~ ~ (See4 , ~ ~ . s e e ing Seal) STATE O~Q~Q}( i~I~s~}(j A~ , ~ ~ ~ ~ ~i COUNTY OF /"~~s~-~~,,~(/~~D~~ Befwe me penonaNy appeared Jerr v L. K i nq ; and ~ ~ _ I.. ~stelle King his wife, to me well known and known fo me fo be ' ~ the individusls desu+bed in and who executed the foregarg instrument, and acknowledged before me that they executed tix same fot the pu~p~lses ' therein expressed. And fhe said L. E s tel le 11'1~ ' of rh, ~;d Jerry L. King ° ; vpon a, ~tpartle ~nd . priv~t~ examina+ion by me taken separate and apart from her said husband, ackrawledged to snd before me that she ezecuted seid i[c vdtaf. ra:ity and withovt any compulsion, constraint, appreh nsion, w fear of or irom her said husband. ~ U~'~-S~i~.~C~ ~ S WITNESS my hand and officiat xaf thi~..2 day of Deczmber ;;,(3`,:;:•~••:••• •,i~~,~ Cj~ ~ . ~ ~ . e ~ _ • , ~ ~ ~ ~ Nofary Public in and for ths St~P.(~r My Commissio~ expires: s g~y ~ { ' . ~ ° ' Return To: - ,r-~ _.-s First Fede~a! Savings d~ loa~ Associatwn '~~t~. fl~' j r Of Fort P:erce. -s-, f " ~ FILEO AND RECORDED= ~ ~ ~ ` Fo.~ Pierce, Florida ST. LUCIE COUNTY, FI.A. . ~2~"CC~f'!i :r~~[FIEp _ +~O ; ~8`7~9U 7 - I ~ This Instrument Prepared By 7. Chastain ~69 OL~' 3 ~ W~1 7• ~y ~ First Federal Savings & loan Association • ~ ~f Fort Pierce, .%lotida ~ ~ ~ _ Checke~ By ~ i~ 0 i, F r= ='~7 i i R!. S~ ~ ~ CLERK CIRCUlT COURT~ f' UR ! _ 80~~81 ~A~~8~1 ; ~ rf c ` _ . .:~:g!