HomeMy WebLinkAbout2017 3. To piace and co~tinuously kcep on the build~ngs now w hereafte~ •~tuate on s+~d land and on all equ~pment and personaliy covered by this mortg-
~ge, wi~h all premiums thtreon pa;d in full, }ire insurance in the usual standa~d po~~<y form, in a sum app~ovrd by the MORiGAGEE, and windstorm
ins~rance in the usual s+anda~d pol~cy iorm, in a s~m approved by ~he MORTGAGEE, in such canpany or compan~es as ~he MORiGAGEE may
di~ech and aIl fire and windstorm insu~ance po~~cies on any of said build~ngs, any interest therein or part thereof, i~ Ihe aggregate tum afo~eia~ w
in excess thereof, shall coma~n thc usual standard mwtgagee ciause o~ such o~her clause as the Mor~gagee may requ~re, maAing the ioss under sa~d poli-
c~es, each and every, payab!e to sa~d h10RTGAGEE as ~ts interes~ may appea~, and each and evr~y such po:~cy shall Ix prompt~y ass gned and de~ivered to
any held by said MORiGAGEE as iur~htr security ~o said n,ortgage debt, and, not less than ten (101 days in advance of the expirat~on of each policy, fo de-
liver to said MORiGAG'~ a renewal thereof, toge~her ,ni~h a receipt for the p~emi~m of such renewal; and there shall be no fire or wu~dsrorm insurance
placed on any of sald buitdings, any interest therein w part thereof, unless i~ the form and with the losa payable as afcresaid; ar.d in the event any sum
of money becomes payable under such policy w policies said MORTGAGEE shall have the op~~w+ to reccive and appty the wme on account ot the indebted-
~ess secured hereby w to permit said MORTGAGORS to recrive snd use i1 or any pa~t ihe:eoF 1or o:i,~r p~~; esrs, .•:~~hoct ~h,.~o; ~v.:~~~:~3 er ~mp~~.-
ing any equ~ty, litn w righl undrr w by virtue of this mo:'gage; and in the eve~t sa~d h10RTGAGORS shall fw any rcason fail to krep the sa~J ~remises so ~
insured, w fail to ~eliver promptly any of said pol~cies of insurance to sa~d MORTGAGEE, or fail p:omptly to pay iv11y any prem~um tfierefor or in any 4
respect iail to perform, d~scharge, e:ecute, efiect, comptete, comply with and abide by this covenant, or any part hrreof, said MGRTGAGEE may place a~~d ~
pay fw such ins~rance or any part thereof without waiving or affectirg any option, lien, equity, or ~~9h~ under o~ by virtue of this Mutgage, a~d the •
full amounl of each and e~'ery suth payment` shall be immediately due and payable and shall bear intcrest from the date thcreof until p~id at the rate ol (
nine per centum prr annu~n and ~o~rfhrr vv~:h such interest shall be srcu~ed by the lien of th~s mortgaga.
4. To permit, commit or su(iet no waste, impairment or deterioration o( said property w any part thereof.
5. To psy all and singular the costs, tharges and ezpenses, including a reasonable attorney's fee and cos~s of abstracts of title, incurred or paid at
any time by said MORTGAGEE, because or in the eveM of ihe (a~lure on the part of the said h10RTGAGOR to duty, pro:nprly and fu~ly perform, d~scharge,
eaecute, effect, complete, comply w~th and ab:de by each and every the st~pu!anons, agreements, cond~~~ons, and covenarits of sard promisscry note a~d ih~s
mortgage any or ei~hrr, and sa:d costs, charges and expenses, each and every, shall be immed~ately due and payable; wherher o~ not there be not~ce d~
mand, attempt to co~Iect or suit pend~ng; and the fufl amount of each and every such payme~t shall bea~ inrerest from the da~e thereof until paid at the
rate of nine per cenwm per annurn; anc alt said costs, charges and expenses incurred w paid, toyether w~th such interest, shall be secured by the lien of thif
mortgsge.
6. That (a) in ?he event of any brea~h of this Mortgage or defautt on tiw part of the MORTGAGOR, or (b) in thr event any of sa;d sums of money
herein referred to be not promptly and fully paid .vithin th~rty ~30) days next aiter the same severa'ty beco+ne due and payable, without demand or notice.
or (c) in the event each and every the stipu~ations, a9reements, cond~tions and covenants of sa:d prom~ssory nore a~~d th~s mortgage any or e~ther a~e nol
~uty, promptly and fu~ly performed, d,schargrd, executed, effected, compteted, compGed with and abided 5y, then in e~ther w any such event ~he said ag-
gregate sum mentioned in ;a~d promissory note then remaining unpaid, with i~teresf acuued, and all moneys secu+ed hereby, shali be[ome due and pay
able forthw~th, or thereaftc~, at the op!ion of said MORTGAGEE, as fully and compte~e~Y as if all of the sa~d sums of rr~oney were or~ginatty st~pulated
to be pa:d on s~ch d~y, anythinq in sa:d pro~n~ssory note w in this Mortgage to the conrrary notwithstanding; and thereupon or thereafter at the op~~on of
said MORTGAGEE, w~thout nor~ce or demand, suit at law a in equity, therefore w therea(ter begun, may be prosecuted as if all moneys sxured hereby
nad matured pnor to ~ts instrtut~on.
7. That in the ever~t that at the beginn~ng of or at any time pending any suio upon this Mortgage, or to {o~edose it, or to reform it, or to enforce
payment of any dai•„s he~eunder, said MORTGAGEE shall appty to the Court having jurnd~aion thereof for the appo~mment of a Receiver, such Cour~ shail
forthwith appoiM a receiver of said mortgaged prooerty all and sinqular, includ:ng all and s~ngular the income, p~olas, issues and reven~es (rom whatever
source derived, each ar,d evrry of wh~ch, it be~ng expressly ~nderstood, is hereby morrgaged as i4 spec~fica:ly set ioreh and descnbed in the 9ranting a~d
habendum clauses her~of, and such Rece~ver shall have aIl the b~oad and effective f~nct,ons ared powers in anyw~se entr~sted by a Ccurt to a Receiver, and
such agpointmenr shaU be made by such Court as an admittrd equity and a ma?ter of abaolute right to said MORiGAGEE, and without reierente to the
adequacy w inadeq~acy of tt:e value of the property mortgaged or to the so~vency or insolvency of said MORTGAGOR or the detendants, and that such
ren~s, profits, inco~ne, issues and revenves shall be applied by such Reteiver accordmg to the lien or equity of sa:d MORTGAGEE and the practice of suth
Court.
8. To duly, promptly arvd fully perform, discharge, execute, effect. complete, comply with and abide by each and every the stipulations, agreements,
tonditions and covenants in sa~d promissory note and this mortgage set forth. ~
9. That in the ev~nt the ownersnip of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the
MORTGAGEE, its s~ccessors and ass~gns, may, wirhout norice to the MORTGAOR, deal wi~h such successo~ or successor in interes~ ~vith reference to this
mortgage and the d~_o~ hereby secured in the same manner as with Mortgagor w~thout in any way vitiating a d~schargi~~g the Mortgagors' liability herr
under w upon the deot hereby sec~red. No sale of the Fremises hereby mortgaged and no forbearance on the part of ~he /hORTGAGEE or its successors
or assigns and no ex~ension of the time for the payment of the debt heieby secured given by the MORTGAGE~ or its successors or ass:9ns, ahall operate
to release, d~scharge, mod~fy change or affect the o~ig~nal liabitity of the MORTGAGOR herein, either in whole or in part.
10. ~t is spec~ficafly agreed that time is of the essence of this contract and that no waiver of any obtigat~on hereunder or of the obligation se-
cured hereby shali at any time thereafter be heid to be a waiver of the terms hereof or of the instrument secured herby.
11. In aud.t:o~ to the fo~ego ng month!y payments of princ'pal and inrerest required by the prom:ssory no~c s=cvrzd hcreb~, mortgagor tovenants
and agrees to pay to rr.ortgagee with each momhly pay~~~ent an add~donal sum est~mated b~ mortgagee to be equai to 1, 12 of the annual cost of the follow-
ing:
A-All real property taxes levird w assessed agai•1st the above descriyed real estate.
I B-Pren;~ums on (ire and windsto:m i~surar.ce as here~n reqv~red to be carried on the improvements situate on the above d_scribed premises.
~ C-Pre:niu:ns o? such mortgage guaranty ir.wrar,ce as mortgagee shail from t~me to time deem (it to carry on the loan secured hereby.
Mortgagee sna ! f•om ti~ne to time notifp mortgagor in writing of the amount due and payabte hereundei and such wm shall thereupon be due and
payable on the c~e ciare oi the next monthly oayment and each successive month thereaft:r until mortgagee shall not~fy mortgagor of a change in such
~ amouN. Such sums sFa:f be applied by mortgagee toward the payment of real property taxes, insurance prem;ums, and mortgage guaranty ~nsurante
~ premiums.
~ IN ~VITNESS :'~H=RcOF. !ne said M TGAGOR has hereunto set his har,d and seal the day and year ' 'aforesaid.
Sig aled an eliv r pre ence of:
L Seaq
~ ~J ~GG (Seal)
(Seal)
~Seal)
STATE OF FLORIDA '
couNrY oF St. Lucie j~
Before me personally appeared Wll~.l~ L. BaileyL end
LO1S Bc111eY his wiie, to me well known and known to me to be
the individuals described in and who executed the foregang instrument, and acknowledyed before me that they executed the sarr~ fw ihe purposes
therein expressed. And the said LO1S Bd11QyI
~ w7fe of the said T~1111aID L• Balle~/ upon s sep~KNs~tnd private
y exam;nation by me taken separate and apart from her said husband, ackrawledged to and before me that she executed said instrurtitnt freely and voluh-
~ ~ariiy and w~thout any compufsion, constraint, apprehension~~ fear of w from her said husband.
~ WITNESS my hand and official seal thi• 3 v - day of Januar ~ a,' p.•~yq~_.
a . , _ ~ r'.
a
~ Notary Publit in and for the State of E~otid~ at Lsrge l•
~ . :
My Comm~ssion ex i et. . ,
Rer~~~ To: tdp R~COROE~~ •~•2':•~:'~~ . : -
First Federal Sa~ings b ~oan Associat~on FtLEDC
E ~OUN7Y FLA. _
3 Of Fort P~erce. ST• Lv rl ~i y'=~~~~~i~ _ , ~
Fort Pierce, Florida ~ ~
~ 18 _ .
FEB y ~ 9:49
This Instrument Prepared By Jatles D. Chesta~~1 (j~
`r First Federal Savings 8 Loan Association
of Fort Pierce ~ Florida ~ ~)~~"•r ~ ~ ~ ~ ~ ~
~ CLE~K C;~~~IT COURT
Checked By ~
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~ aoux ~v~ YA~_ ~ :
3 fr~
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