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HomeMy WebLinkAbout0213 ~ . . 3. To place and coMinuously keep on the bui'ding~ now or hereafte~ ~ituata on said Isnd and on sl~ equip~r.ent and pe.sonally cover~d by this mo?tg- sge, wi~h all prem~ums ~hercon pa~d ~n fufl, firo insura~ce ~n the usual srandard policy form, in a aum app~oved by the l~10RfGAGEE, and w~ndstorm iniurance in the usual standard pot~cy (orm, i~ a sum approved by the MORTGAGEE, in iuch company or compan~rs as the MORTGAGEE may ; ditec?; and all (i~e and windstorm insurante polit~es On any of said build~ngs, any inlerest therein or part thereof, in the aggrzgare sum aforesaid or ! in excess thereoF, :hall contain the usual standard matgagee clause w s~ch o~her dauss as the Mwtgagee may requ~re, ma?ing the loss unda se~d pol~ cies, each and every, payable to sa~d MORTGAGEE as ~ts in~eres~ may appear, and each and every such po~7cy shall be promp~ly ass.gned a~~d det~vered to snyt held by said MOR(GAGEE as (urther security to said mortgagt debt, and, not les~ lhan ten (10) days in advante of the expiration of each policy, to de- ~ liver ro said MORiGAGEE a ra~ewal ~hereol, to9e~her with a receipt fo~ the p~emium oi such renewal; and there shall be no f~re o~ w~~~ui~orm insurance pl~ced on any of said build~ngs, any interest therei~ or part thereof, unless in the form and wiih the tou payable as eforesa~d; and in the event any sum s of money become~ payable undet such policy or policies said MORTGAGEE shall have ?he option to reteive and apply the same on account of the indebted- ~ neu sstured hereby o~ to permil aaid MORTGAGORS lo receive and uae it d any part tAereof tw otner E:U~NOS[S, YnIF1GUf ih_.cu~ ~vai~in3 or unpdir- p ing any equ~ty, l~er? or r~ght under or by virtue of this mo:!gage; and in the event sa~d MORIGAGORS shall fw any reason fail to keep ~he :a~d premisrs so ; insured, or fail to deliver p~omp~ly any of said pol;cies oi insurance to sa~d MORTGAGEE, w fail promptly to pay futly any ~rem~~m theretor or in any reipect fail to per(wm, discharge, execute, e{fecf, complete, comply with and abide by this covena~t, w any part hr~eo(, said MORTGAGfE may place and pay fw suth insu~ance or any part thereof w~thout waiving w affeuing any option, lien, equ~ty, or right undcr or by virtue of th~s Morfgage, and thc full amount of each and every such paymenl shall be immediately due and payable and shall bear interest from tha date thereoi until pa~d at the rate ol nine per centum pe~ annu~n and to~ether wirh suth inte+es~ shal'r be secured by the lien of lhis mortgage. 1. lo pe~mit, mmmit or suffe~ no waste, impairment w deter~oration of said property w any part thereof. 5. To pay all and singular the costs, charges and expenses, including a reasonable attwney's fae and costs of abstraas of t~tle, incurred or paid at any time by said MORTGAG;E, because or in the event of the failure on ~he part of the said MORTGAGpR to duty, promptty and fut(y perform, discharge. ' execure, efiecr, complete, comply wrth and ab:de by each and every tbe sripulanons, agreements, conditions, aod covenants of said promissory n~te and this ~ mortgage any or either, and sa:d costs, tharges and expenses, each and every, shall be immediately due and payable; whether or not there be not~ce d~ ~ mand. attempt to collect or suit pending; and the fut! amount of each and every such payme~t shall bea~ interest trom the date thereof until paid at tht r rate of nine oer centum per annum; and ai~ said costs, charg~s and ezpenses inc~ned or paid, tpgether wdh such i~verest, shall be secured by the lien of this { morfgage. • ~ 6. Thal (a) in the event of any breach of this Mortgage or default on the part o( ~he IKORTGAGOR, or (b) in the event any of satd sums of mo~ey ~ herein ~eferred ro be not prompNy and tully paid within th~rty (303 days next after the same severa!ty becomc due and payable, wi~hout demand or notice, _ or (c) in thr event each and every the stipu!ations, agreements, conditions and coverants of sa:d promissory note and th~s mor~gage any or either are not ~uty, promptly and fulty perFormed, d~scharged, execured, eftected, completed, comp..Fi w~fh and ab~d~d 5y, then in e:ther w any such event the sa~d ag gregate s~m ment~oned in ;aid promisse~y note then rrmaining unpa~d, with interes~ accrued, and atl moneys se:ured hereby, shall become due and pay- a~ 4n+ih~ritb. nr theieaftcr at the opsipn of said MORTGAGEE, as (utly and comp(etety as it aH ot thc said sums of mooey were or,g~nally s~~putated ro be pa~d on such dcy, anything io sa:d promissory note or in t~s ortqage o e con rary o w~ , said MORTGAGEE, v~,ithout notice or demand, suit at Iaw a~ in equity, therefore w thereaiter begun, may be prosetutecl as if aIl moneys setured hereby nad matured pnor to ~ts inst~tution. 7. That in the event that at the beginnmg of .x at any time pe~di~g any so;i v+ e~+~~ Mortgage, or to foretlose it, w to reform it, or to enforce payment of any claims hereunder, said MORTGAGfE shall apply to the Court having jurisdictlon thereof ior the appointment of a Receiver, such Court shall ~ forthwith appoint a receiver of said mortgaqed prooerty a!! and singulsr, in~lud,ng all and singu~ar the income, prollts, iss~es and revenues from whatever ` source derived, each and every of wh~ch, i~ being eapress~y understood, is hereby mortgaged as if spec~(ically set forth and despibed "e:; the g~anting a~d habendum ctauses hereof, and such Receiver shali have all the broad and effective funct~ons and powers in anyw~se entrusted by a Cou~t to a Receiver, and suth appointment shali be made by such Court as an admitted equity and a matter of absolute right to said MORTGAGEE, and without reference to the adequacy a inadequacy of the value of the property mortgaged or to ~he sotve~cy or insolvency of said MpRiGAGOR or ~he defendants, and ~hat such renrs, profirs, incorrse, issves and revenues shall be applied by such Rece;ver accord~rig to the lien w equity of sa~d MORTGAGEE a~d the practice of such Court. " 8. To duly, promptty and fully perform, discharge, execute, effect, complete, comply w~th and abide by eac'~ and every the stipulations, agreements, conditions and covenants ~n sa~d promissory note and this mertgage set forrh. 9. That in the event the ownership of the morlgaged premises, or any part thereof, becomes vested i~ s person mher than the MORTGAGpR, the MORTGAGEE, its successws and assigns, may, without notice to the MORTGAOR, deal with such successw or successor in interest with reference to this mwtgage and rhe d~bt hereby secured in the same manner as with Mortgagor withovt in any way viriating o? d+scharging the Morrgagors' liability Feere- under a upon the debt hereby secvred. No sale of the prem~ses hereby mortgagcd and no forbearance on the part of the /AORTGAGEE w its successors w assign= and no extens~on of the time for the payment of the debt hereby secured given by the AM1ORTGAGE~ or its successors or auigns, shaii operate ro release, d~scha~ge, mod~fy ~hange or aflecl the original Iiabi?ity of the MORTGAGOR herein, either in whole w in part. 10. It ;s spec~ficalty agreed that time is of the essence of this coNract and that no waiver of any obligat~on hereunder or of the obligation se- ~ cured hereby shali ar any time thereafter be held to be a waiver of the terms hereof or of the instrume~t secured herby. i 11. In arid noh to tne fo~ego:ng monthty paymaMS of princ'pal end interest required by the prom'swry no!e secwed hereby, mortgagor covenants and agrees !o pay to n:o-tgagee wirh each momhly payment an add7rional sum est~mared by mortgagee to be equal to 1% 12 of the amual cost of the follow- iny: A-All real property taxes le~ied w assessed agair~st th~ above desc.ibed real estate. B-Pre~r:~ums oh fire and windstorrTi insurar.ce as herein requ~red to be carried on the improveme~ts situate on the above descrebed premises. C-P~emiv~ns on such morlgage gua~anty k:surar~ce as mortgagee shail from t:me fo time deem fit to tarry on the toan sewred hereby. Mortgagee sha!I from ti~ne to t~me notify mortgagor in writing of the amount due and payable hereundrr and such sum shall thereupon be due and Fayable on the d~e dare of th~ next month:y payment and each successive month thereafter ur.til mortgagee shall notify morrgagor of a change in tuch amount. Sucb su:ns sha i~¢ applied by mongagee toward the payment of real p~operty taxes, insurance prem:ums, and mortgage guaranty insurance premiums. IN WITNESS Y,IHERcOF, the said MORiGAGOQ has hereunto set his hand and seal the day and ye first aforesaid. } Signedn, Sealed and d iver.~ed i~n the p?esence of: ~ b~T Y ~ D/V cs~ n . (Seaq : - (Seaij STATE OF FLORIDA COUiVTY Of S~ ~ ~C~ # ~ ' Beiore me penonally appeared L~ a aingle ~~ti ~ to me well k~own and k~awn to me to be the individuat~ described in and who executed the fwegoing instrvment, and atknowledged btfore me that Jhei exetuted the same for the purposes - therein expressed. ~ ~ i 1 , i 1 i WITIVES$ my hand and official seal thi day of J A. D. 19.~Q_ _ N tary Pubtic in and for the State of Fbrida at larye Return To: . MY ~ommiuion expires: .,s. F~nt Federal Savings a loan Assouat~on , " MY C',yM~1lSSION S+~~E ~ flGR~OA Ai LAR6E ~ Of fort ?~erce. - • FEX~PIRES SEPT, 23, 1973 Fort Pie:ce, florida ' ' w ~~~fj~0~r _ ~ _ - FI~Ep AND R~~ARpRp , . gT. _ . - , r ~UCIErC~UNTY, Fl.~. ' F?~'~ This Insfrument Prepared By J~}~•,,K._ ~O~' . 13`7~t)1 First Federal Savings & Loan Association ~ of Fort Pierce ~ F10l~~~,.,,~~ = 7~ s QM 9; 5 y y ~f . f~r~r;:~,,:ti,~~;•~ ~_~J/~ L2_ / : Checked B ` Q~ !c~/ ~ ~ ~ .,-n r~Trf.'.S BOOK~~~ PACE ~1~,~t ~«K ~iRrU;~ COURT ~ . ~ R - - . ' ' . . . . . ' ~ . . . . .