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HomeMy WebLinkAbout0322 3. To place and conti~uousiy keep on Ihe bui!dings now or hereafter situate on said land and on al' equipment m1d personal~y coveied by this mortg- sge, with all prem~umi thereo~ pa:d ~n full, fire insurance ~n ~he usuai s~andard poiity form, in a sum aFproved by the fJ10R~vaGEE, and w~ndstorm insv~ance in the us~al sT~nda~d poi.cy form, in a sum approved by fhe MORTGAGEE, in such compa~~y or compan~es as the t:.ORTGAGEE may direct; and atl fi~e ar.d w~ndstorm insurante poleues on any ot said build~ngs, any iroereat the~ein or pa~t thereof, in 1l~e agg~cgare svm afo~esaid or in excess Ihe~eof, shall con~ain the us~at s~a~~dard nsortgagae dause or such other clause as the Mortgagce may req~ue, making me loas undr~ sa~d poli- cies, each and eve.y, pa~able to said MORTGAGEE as us ~merest may appear, and each and e~~ery such pc~:~cy shall kx promptly ass gnrd a~d de~ivere~ fo ~ny he~d by said h10RTGAGEE as (urthar security to sa~d n~ongjge debt, and, not iess than ten (101 days in advance of the exp~rot~on of each policy, to dr liver 1o said MORiGAGEE a renewal thereof, toge~her with a rece~pl for the premium o} such renewa~; and there shall be r,o f~re or w~~~duonn insurance placed on a~y of said bui!dings, any interest therein w parl thereof, un!ess in the to~m and with Ihe iosa payable as a!oresaid; and in the evenl any sum of money becomes payable undrr such policy or poGciea said MORTGAGEE shall have the opt~on to reca~ve and app!y t~~r same on accoun~ of ~he indrbted- ness secu~ed he~eby or to permit sa~d MQRTGAGORS to receive and use it or any p~r~ threof ior oti~or purp ~srz. ..~ri~s_t ~h:•. u>>p~~~• ing any equ~ty, lien or r~yht undr~ or by vir~ue of this mo:•gage; and in the eve~t sa:d MORTGAGORS shall for any ~eason (ail to krep the said pre~n~ses so ins~~ed, or (ail fo de~iver promptly any of said policies o( insurance to said MORTGAGEE, or f~il promptly fo pay fu~~y any pre~n~um theretor o~ in a~y respeu fail to perform, d~scharge, execute, effect, complete, compiy .-irh and abide by this cove~ant, o~ any parr hareoi, said h1UR7GAGEE may p~aCe a~~o pay for such insurance or any part thereof w~~hout waiving w affec~ing any opt~on, lien, equ~ty, or right under or b~/ v~rt~e of ~h~s hlortgage, and the full amount of each and every such payment shall be im~nediately d~e and payable and shall bear intrrest from tha date ~hareof un~il p~id at the rate ot nine per centum per annu:n and to3rther with such intrrest sh~li be secured by the lien of this mortgage. To permit, commit or suffer no waste, impairment or deter~oration of said property o? any part thereof. < 5. To pay all and siru~ular the cos harges and expenses, ~nc(~ding a reasonahte ano~ney's fee and cosrs of abstracts o( tiNe, ~~cur.ed or pa~d at any time by said MORTGAG:E, bfC3USC w in the event of the faiiure on the part of the said h10RTGAGOR to d~Iy, pron,Ni~y and fuUy pe.form, d~scharge. execute, effeu, tomp~ete, comply woh and ab:de by eath ~nd every the stipula+~o~s, agreernrnts, conditions, and tovrnants o~ said pro~nlssory nore and this mwtgage any or e~~her, and sa:d costs, charges and expenses, each and every, sh311 be immedlately due and payabie; wh~•ther or no~ there be not6ce d~ mand, a:tempf ro colleu or suit pend~ng; and the tu!! amounl of each and every such paymem shall bear interest from the da~e thereof ~ntil pald at the rate o` n:c~ per cenfum per a,u~u:er, ~nd ail sa~d cosrs, charges and expanses ~ncurred or paid, togzthrr ~v~tn wch ~nterest, shall be sac~red by the lien of th~i mortgage. 6. That (a) in the event of an/ breach of this Mortgage or default on the part of t1~e A10R7GAGOR, or ;b) in the event any of sa'd sums of money herein refe:red to be not pro~nptly and fully paid ~vithin thirty (30) ~~ys next ain_~ the same seve~a'ly become d~e and payoble, without demand or nat~c~, or (d in the event each and eve~y tne s~~pulatio~s, agreem~ms, co~~d~.ions and covenaros of sa.d prom~saory r.orr anJ th.s n:ortgage any or e~ther a~e not ~u!y, prompNy ar.d ful;y performed, d.scharg_d, executed, eilected, tompleted, complied with and ab~drd Sy, then in e~rFer or am~ such e~em the sa~d ag- y--y3T~-~n~nirEirrre-mcf ~rrsard-pio-+inorq-iiate tMen remaswiwg am~aaaci sv'+?~ ~+'r+a-t acuued and a l cron~ys ucured here6y st}all become due and pay ab,e iorthwith, or rFr-r~-a`rer, at the op!~on of said MORTGAGcE, as fully and completeiy as if all of tl~e safd svms oi muney ~nere or~g~na: y s~pu a e to be pa:d on such dcy, anything in sa d prom~ssory note or in this Mortgage to the contrary not~nrithstanding; and the~eupon or therea4ter at the opt~on of sa~d MORTGAGEE, w~r!•e~! nor~ce or demand, suit at law w in equity, therefore or thereafter begun, may be prosecvted as if all n:oneys secured hereby had maWred pnor ro ,ts Inst+tut~on. 7. That in the event that at the beginn~ng of or at any time pend~ng any suit upon this Mortgage, or to foreclose it, or to reform it, or to enforce payment of any ci,~~r~~ i•e•c.,~~d: sa~d MORTGAGEE shalt apply to the Co~n having jurnda~on thcreot for the po~nnnrnt of a Re.eiver, such Co~~t sha~l forthwith appoint a receiver of said mor!gag ~ prooerty aIl and singu!ar, indud~ng ail and sing~iar the ir.come, proles, issues ar.d ~evcnues lrom whatever seurce derived, each ar.d every of wh.ch, it be~ng express~y unders~ood, is her~by mor~gaged as ~f speu~~caliy set forth and descri~d i~ the granr;ng and habendum dauses hereof3 and such Receiver shall have at1 fhe broad and ei:e~i~ve (unct.ons and powers in anyw~se entrusfed by a Cou•t to a Receiver, and s~ch appointment shall ~e made by such Court as an admittrd equity and a matter of absolute rgM to sa~d M02TGAGEE, and w~shout reference fo the adeq~acy or inadr+wac~ of tF.e value of the property mongaged or to the so:vency or ~nso~vency of said MORiGAGOR or the deter,dams, and that such rents, profits, in:cme, issues and revenues sha~l be app~ied by wch Receiver accord~ng to the lien ot equity of said MORiGAGEE and ~he practice of such CouA. 8. To d~1y, prom~tly ancf iui~y perform, d~scharge, execute, effect, complete, comply with and abide by each and every the stipu~ations, agreements, conditions und covene`ns ~n sa~d promissory noie and this mortgage set forth. 9. That in the event rhe ownersh~p of the mortgaged prem~ses, or any parf thereof, 6ecomes vested in a person other than the MORiGAGOR, the MORTGAGEE, its s~ccessora and ass~gns, may, without notice to the MORTGAOR, deal w~th such successor or successw in interest with reference to thia rrortgage and the,dra hereby sewred in the same manner as with Mortgagor without in a~y way vit~ating or d~stharging the lAortgagori liabiiity here- under or upon the debt hereb~ secured. No saie of the premises hereby rnortgaged a^d no forbearance on the parl oi the /AORTGAGEE or its sutcessors or ass~gRS and no extension of the time fw the payment of the debt hercby sec~red given by the MORTGAGE~ or its successws or ass:gns, ahall operate ~o release, d~scharge, modify change or affect the o:ig~nal liao:liry of the MORTGAGOR herein, either in whole or in part. 10. It is speciiica~ly agreed that time is of the essence c,f th~s contract and that. no waiver of any ob~~gaf,on hereunder or of the obligation se- cured hereby shall at any time thereaher be he:d to be a waiver of the terms hereof w of the insuumem secured herby_ I 1. In aJd.t:o~ ro rF,e forego'ng monshty paym~nts of prir,c pal and interest requ'~~ed by the promsswy no~e sec~red hereb~, mortgagar covenaNs and agrees to pay to mo:tgagee v.ith each momh'y pa~rnent an add:rional sum estln:ated by mortgagee ro be equa~ to 1; 12 of tbe annual cost of the foliow- ing: ' ~ A-AI{ real rropeny taxas lev~zd or assesseo tgai~:st the above descri~ed rra~ esTa~e_ f B-Pr~n::u:ns o~ firc• and wir.dsto:m insuracce as here~n ~eq~~red ro be carried on the ~mprovements s:tuate on thc above d_SU~bed premises. ~ C-Premiv:ns oo wch rt~ort3_:ge guaranty ir.wra~:ce as mortgagee shall from t:me to time deem fit to cany on the loan secured hereby. Mortgagee sh,='! `ro~n n~•~> to t~me nc'ify mo~tyagor in writing of the dTOU'1~ due and payable hereundrr and suth s~rn shall th~-rc~Ewn be due and ~ F.ayabte on thr ~lue ciare of the next n,onth'y payment and each successive rnonth thereafier ucti~ mcrtgagee shatl notlfy mortgagor of a change in zuch amo~nt. Such w+ns s~~a : 3~e arp'ied 6y mortgagee toward the payment of real propeny taxes, insura~:ce prem:ums, and mortgage g~aranty insurance ~ premiums. , _ IN Y ITNES~ `:iHFREOf, ine sad ORTGAGOR has hereunto set his hard and seal the day and year first aforesa~d. S' a!ed a. d I" ' th resence of: / r J ~~y? ~ ~ /~i1.~f-(.iL (Seal) ' ~tti.o~c-,~-~ f (Seaq ~L'~~-, 1 i'~ ~.:~z~..ti' (Sesl) _ i (Seal) STATE OF fIORIDA couNrv oF S t. L uc ie _ i 8efore me personally appeared AL~ t~ C¢QT1t~c and I rene B• C. S01'Zt05 his wife, to me well known and known fo me to be the ind~viduals descr~bed in and who executed the fwegoing instrument, and acknowiedged before me that they exec~ted the same for the purposes I rene 8. C sontos rherein expiessed. And the said ~ wHe of the sald Alb@Zt L• CSOJ1t03 , upon a separate and private exam~nation by me taken separare and apart from her said husband, acknowledged to and before me that she executed said instrument freely and volun- tarity a~d w~thoui any compulsion, co~straint, apprehension, 9r fear of or from her said husband. `11IITNESS my hand and o`fiual seal this j~ TF day of January A, D. 19~Q 3' ~~/~~~!/a<t~ ~C~ ~ Notary Public in and fw the State of fbr"~a. at larye ~_'3 ' M Commission ezpires: ~ ~ _ ~ _ ~ Ret,,,,, T,: ~ ILE~ AND RECORDEO ~ ~ ~ First Federal Savi~gs a loan Assoc~at~on `%T. IUCIE COUhTY. FLi.. - ~ Of fort P~eree. 'J:.^n~i ' ~'-~lt='(_( ~ Fort Pierte, Florida - ~ ~ ~ '7~ • ~I~ . 5 4 ~ This Instrument Prepared By ThosYas A. DrisCOll ~ ~ ~:1 ~ First Federal Sav~ngs & Loan Association : _ ~ of Fort Pierceo Florida CL~.({K C:i?CU?T COURT ~ ~ Checked By~- ' ~ ~ ~ eoon 1~2 P,,~~ 3~0 ~ ~ - ~t : ~ ~ _ _ _ ~ _ - - w.__ . _ _ . . : ~ ~v~,.