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HomeMy WebLinkAbout0805 . f 3. To plaa and ca+tinuously keep on tF?~ buildi~gs now a he~tafta sitwt~ on taid Iand +nd on all equipment and perwnstfy covered by ihii mort¢ ~ ~ge, with ail premiwns thereo~ p~~d i~ fuil, (irs in~ura~ce in ths uaval standard policy form. in • sum ~pproved by 1he MORTGAGEE, and wind~torm insw~M~ In ~M viwl ~~andard pol~q fam, in ~ sum ~pproved by tM hhORTGAGEE, in t~rch company or companies u the MORTGAGEE may di~~dj and all firo and windsro~m i~surance policiet on snY of said build~np~, ~ny inter~st thxtin w part thereof, in the agg,egare wm ~fa~said w in ~xcess tAcreof, sha11 contai~ the v~w) atandard matgay~s dause or wch other clause tM 1Nortyagee may reqvin. makinp Ihe lou unde~ wid poli~ cie~, e~ch ~nd evary, payabts w t~id MORTGAGEE +s its interest may appea?, and cach ~~d every such policy shall be promptly us:gned snd detivered to any held by ~id MORTGAGEE as turiher securiy ~o said mor~yage debt, and, not less than ten (10) days in advance of the expiratio~ 01 e~ch policy, to de- ! liv~r to wid NCI~RiGAGEE a renewal thereof, to~thK with a receipt for the premivm of iuch ronewal; and thero shall be oo fire a windsiorm insurance f ptated on ~ny of said buitdinps, any intereil thc~ein ot rt thereof, u~teu in the form and with the loss t pa payabla aa alarsaid; and in !M eveM any :um of monay becnmei payabk under suci? policy or policies said MORTGAGEE shall Mve the option 1o receive and apply ~he san,e on accounl ot the indebted- neu secured ha~eby w w permit said MpRTGAGORS to reteive snd use it w any parl thereof fw mher pu~poses, v.f~hout th:reoi wai~i~,g o~ ~mpair- in9 any squiry, lien or righf unde~ w by virtue of this morryage; and in the event said MORTGAGORS shall fw any reason fail to keap the sald {uemisei so insured, q fsil ro deliver promptly ~ny of said policiea oi i~sursnce to said MORTGAGEE, w fail promptly to pay fully any premium therefw w in any ~ respect fait to pe.form, d'ucharge, execute, effact, com~Iets, comply wi~h snd abide by thi: covenant, p any pa.t hereof, as;d MORTGAGEE may plsce and pay fw stKh insu~ante or any parf thereof without waivirg p affadlnp a~y option, lien, eq~iy, or rigM unda or by virtue of this Mortgage, and tFx full amount of each ar?d every sucA payment shall be immcdiately dw ~nd p~yable and ~hall bear inreres~ from the date thereo{ until paid at the rate o1 nine per tentum per annum and together with s~ch intereat sha!! be secured by ths lien of this mo~tyspe. 4. To permit, mrtimit ot suffer no wasls, Impairmcnf or deter'wratan of said properry w any psrt thereof. S. To psy all and singular ths costs, charges and expenies, includiny s ressonable attorney i fee and costs oi abstracts of title, incurred or paid at any time by said MORTGAGEE, because w in the event of the failure on the part of the said MORTGAGOR to duly, promptty and fu~ly perform, d~scharge, execute, efied, comptete, comply with a~d ab:de by ew~h and every the stipulations, sgreements, conditions, and covenant= of said promissory note and ~hi~ matgsye a~y or either, aRd said costs, ch~rges and expenses, each and every, shall be immediately due and Qayable; whether or not fhere be notice de mand, attempt to collect a suit pending; and the full amount of each end every sucF~ payment shaU bear interest from the date thereof until paid et fhe rate of nine per centum per annum; and afl said tosn, charges and expe~ses incurred or paid, together w~th such interest, shall be secured by the tien of thi~ mortyage. 6. That {a) in the event of any breach of this Mortga9e. w defautt on the part of the MORTGAGpR, a(b) in the event any of sa~d :ums of money herein ?eferred to be not promptly snd fully paid wirhin thirty (30) dsys next after the same severally become due and payable, without demand w notice, or (c) in the event each and every the stip~rtations, agreements, co~ditions and covanants of sa~d promiaaory note and th~s mortgage any or e+ther are rrof ~uty, promptty and iulty perfwmed, d7uharged, executed, effectcd, completed, complied wilh a~d ab~ded by, lhen in e~ther a any such event the s~id ag gregate wm mentioned in said promiuory note then remaining unpa~d, with in~erest accrued, and atl mo~eys secured hereby, shall become due and pay- able fathwith, o~ thereafter, at the option of said MORTGAGEE, +s fully and completely as if aIl of the said sums of money were w~ginally st~pulated to be pa;d on s~ch day, anything in said promissuy note or in this Mortgage to the contrary notwithstanding; and thereupon or thereaftev at the opGon of said MORTGAGEE, without notice or demand, suit at law or in equity, therefore or thereaher begun, may be prosecuted as if all moneys secured hereby had matured prwt to its institution. 7. That in the event that at the beginning of or at any time pending any wit upon this Mwtgage, or to foreclose it, or to reform it, or to enfwoe payment of any claims he~eunder, said MORTGACaEE shall apply to the Court havirg jwisdiaion thereot for the appo~ntmenl of a Receiver, such Court shall forthwith appoint a rece~ver of uid mwtgagad property ail snd singulai, incl~d~ng all and singulsr the income, prof~ts, issues snd revenues from whatever so~rce derived, each snd every of which, it being expressty ~~dcrstood, is hereby mortgaged as if spec~fically set forth and described in the grantir~g and habendum clavses hereof, and suth Rcceiver shafl hsve ali ~he txoad and effcctive funct~ons and powers in anywise entrusted by ~ Couri to a Receiver, and such appointment shall be made by svch Covrt as an admitted eqvity and s matter of abwlute right to sa7d MORTGAGEE, and without reference to the adequacy a inadequacy of the value of the property mortgaged or to the aowency o? insolvency of said MORTGAGOR a the defenda~ts, and that such reros, profin, income, iss~es and revertues shall be applied by such Receiver according to the lien w equity of wid MORTGAGEE and the pracGce of such CouR. 8. To duly, prompHy snd fuily perform, dixharge, execute, effect, complete, comply with snd abide by each and every ihe stiputatiau, agreements, coeditions and covenants in said promissory eore and this mo~tgaqe set fatl?. 9. That i~ the eveM the owncrsh;p of the mwtgsged premises, w any part thereof, becomes vested in a person other than the MORTGAGOR, the MORTGAGEE, its successors snd assigns, msy, without nofice to the MORTGAOR, deal with such successor or successor in interest with reference to this mortgage aod the debt hcreby secured in the same manner as with lNortgagor without en any way vit;atirg or disthargi~g the Mortgagors liabitity herr under or upon the debt hereby setured. No ssle of the premises hereby mortgaged sr+d no fwlxarance on the part of the MORiGAGEE w its successon ~ or assigns and no extension of the time fw the paymenl of the debt hereby secured given by the MORTGAGEE or irs svccessws or assigns, shall operate ro relesse, disc}wrge, modify change w affect the orig~nal liability of the MORTGAGOR herein, either in whole or in part. 10. tt is spec~fically agreed that time is of the easence of this contract and that no waiver of any obl~gatwn hereunder or of the obligstan sr cured he~eby shall at any time thereaher be held ro be a waive~ of the terms hereof or of the instrumeM secured he~by. 11. In addition to tfie forego:ng monthly psymentt of prin~ pal a~d interest required by the promissoryr note secured he~eby, mortgagor covenants artd agrees to pay to mo:tgagee with each monthly payment an add~~ional svm estimated by mortgagee to be equal to 1/12 of the annual cost of the follow- ing: A-All real property taxes levied w assessed against the above deuribed real estate. 8-P~emiums on fire and wiexlstwm insurance as hereia requ~red to be carsied on the improvements situate on the above desuibed premises. C-Prem;ums on such mortgnge gvaranty insurance as mwtgsgee shall from lime to time deem fit to tarry on the loan secured hereby. Mortgagee sha?I from time ta time notify mortgago? in writing of the amount due and payable hereunder and such sum shall the~p~iAH'bl.due and payable on the due date of the neat monthly payment and each successive month ~hereafter v~til mortgagee shall notify mortgagp~;~of,~~~~ jn'•~?ch amounL Such sums s1:ap be apptied by mortgagee toward the payment of real propeAy taxes, insurance prem:ums, and morl ~baSigty, _~~una premiums. • : ~i=••''' _ IN WITNESS WHERcOF, the said MORTGAGOR has hereunto set his hand aed seal the day and year first afwesaid. ' ' - s~~d, Sealed and del' ered ,n~ p.~ or: 0 RECO ~~'i'Y CO RUCTIA!! ~ - FILEO AN p _ ~ . ~ ST. LUCIE COUNTY,~F ,q. ~ . - ~ = • E~_.!~~~;? ~J`.i!Ctc~ ~ an.' 18$3; n . , ~ - - _ _'1D_ r 1~l4 ---~~T - - STATE OF FLORIDA ~~jMlU~~E 1 HEREBY CERTIFY, 7hat on thi R~yCo~CUIT COUFZ~uarY 7p , A.D. 19 , before me personally appeared ~lly Hall ~ respectively a'S President~ ~ ~ af ~ a Kelly Construction Company ~ a FloYida Cerporation, io me known to be the persons described in and who executed the foregoing instrument, and. severaf(y acknowledged the exe cution thereof to be their free ad and deed as such officers for the uses and purposes therein mentioned; a~d that they affixed thereto the official seal of said corporation, and the said' iqstrument is the act and deed of said mrporation. ~ t ~ • . WITNESS my hand and official seal at Fort Pierce ~ , said county and state. • This instrument prepazed by v: _ ~ i John W. Collins (Votery:Public, in and for State and County aforesaid. First Federal Savings and Loan ~ jy~y C~;is' E r Association of Fort Pierce, Florida~,~'• _ tO~oTl~ ~'BUC. sTATE OF FLORiDA AT Wt~E . MY COMMISSION EXPIRES SEPT. 23, 1973 ~ ` - 60NOED iNRU FRED INL D1fSIE1H01i3i Checked By p • 80ox ~c7~ PAGE (70J ~ ~ ~ ~ _ ~ ~~..~`~n~"'.~~~.~~ ~~T~r:;--..~;:~ . "