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HomeMy WebLinkAbout2244 3. To place and continuously kcep on the bui!d~ngs now or hereafte~ situate on sa~d tend and on aN equ~pment and pe~sonai)y covered by this mwtg- egs, wilh. a!1 premiums thereon pa~d in fu~l, fire insuronce ~n the ~sual standard poGty form, in a wm appto~ed by the MOR~GAGEE, and windstorm insurance i~ the usual standard pol~cy fwm, in a sum approved by fhe AiORTGAGEE, in such company o? compan~rs as the MORTGAGEf may direct; snd ail fire a~d w~~dstorm insu~ance pot~ue~ on any of sa~d bvild.ngs, any interest therein o~ part the~eoi, in the aggregate sum aforesaid w in exceu ~he~eof, shall conrain the usual ~tandard ma~9agee ciause w such other clause as the Mo~tyagee may requ~re, maM~ng ehr ioss unJe~ sa~d pol~ cies, each and every, payabte to said ti~ORTGAGEE as ~ts interes) may appear, and each and eve~y such policy shaA tx piompt~y ass gnrd a~~d det~vered ~o eny held by said h10RTGAGEE as funher security to said mortgage debt, and, not Ieu than len (10) days in advance of the expiration of each policy, to de- live~ to uid MORiGAGEE a renewal thercof, together with a rece~pt for the premium of such renewal; and there shaii be no fire or wi~~dseonn insurance ptsted on a~y of said build~ngs, any interest the~e+n ot part thereof, unless in the (orm and w~th the ioss payabte as aioresaid; and in the event any sum of money becomes payable undrr such policy w poGcies said MORTGAGEE shall have the opt~o~ to recerve and apply the same on account o( the indebted- neu secured hereby o~ to permit said MORTGAGORS to receive and use it o~ eny part thereof io~ onc~r purposes, v.;iho,:l ~hrn or w.,~.~ ~3 or ~n,pa~r- ing any equity, lien a right under o~ by virtue of this mo:!gage; and in thp event taid MORTGAGORS shall for any reason fail lo keep the said premisrs so insured, p~ fai) t0 deliver prpmplly any of said policiet ol insuran~e fo taid MORTGAGEE, Or (ail promptly to pay (u(ty any pre~~~iu~n fhcrafor ot +n any respect (ail to perform, discharge, exeture, efiect, complete, cornply with and abide by this cove~a~t, or any parl hrreof, said MGRTC,AGEE may pface a~~d pay for such insurance or any part lherzof without waiving w aifecting any opfion, lien, equ~ty, or righ~ undar or by virtue of ~hia Mortgage, and the full amount of each and every such paymen~ shall be ~mmed~ately due and payable and sha!! bear inlMclf l~om ~he date thereof u~~til pa~d at the ra?e ol nine per centum pe~ annum and to~ether with suth interest shall be srtured by the lien of this mortgage. 1. To permit, commit or s~Ffer no waste, impairment w deterioration of said proprrty w any part thereof. 5. To pay atI and singular t4e costs, charges and eapenses, includ~n9 a reasonable attwney's fee and cos~s of abstracts of title, incurred or paid at a~y time by said MORTGAGfE, because a in the event of the faifurt on the part of tAe said MORTGAGOR to duly, pro~nptly and fully prrfprm, d~scharge. :xecute, effect, comptete, compty with and ab:de by each and every the stipu:ai~ons, agreements, cond~t~ons, and covenants oi sa~d pran~ssory note and ~his mwtgage any o? either, ana sa:d costs, charges and expenses, each and every, shal( be immediate~y due and payab:e; whether or not ti~ere be nor~ce da mand, anem.pt to coll~t or suit pend~ng; and the full amount of each and evary such payment shatl bear interest from ~he date thereof until paid at the rate of nine per centum pcr an~~um; arx: all said costs, tharges and expeoses incurred a paid, ~ogether w~th suth interest, shall be secuied by thr tien oi this mortgage. b. That (a) in fhe evenf of any breacb of this Mortgage or default on t1~ part of the MORiGAGOR, or ;b) in the event any of aa;d sums of money herein referred to be not promptly and fully paid within ?huty (30) days next atter 1he same severa'!y become due and payable, without demand o? ootice, or (c) in the event each and every the stiputations, agreements, to~d~tions and tovenants of sa:d promissory nota and th;s morrgage any or either are not ~uly, promptly and lully performed, d~scharged, ezecuted, effected, completed, carnplied with and abided Sy, then in e~ther or any such event the said ag- gregate sum mentioned in ;aid p~o~nissory note the~ remaining unpa~d, with interest atcrued, and alt montys set~red hereby, shall becume due and pay able fo?thw;th, o? thereaft~r, af the option of said MORTGAGEE, as fully and completely as ii all of the said sums of money were orig~nally st~p~iated to be paid on suth day, anything in sa:d prom~ssory note w in this Mortgage to the tontrary notwithstandi,ig; and thcrcupon or thereafter at the option of said MORTGAGEf, witMut notice or demand, suit at law or in equity, fhe~efore w thereafter begun, may be prosecvted as if a!I moneys secured hereby nad maWred pr~or to ~ts institution. 7. That in the event that at the beginNrg of or at any time pe~d~ng any su~t upon ~hi~Mortgage, w to foreclose it, or to reform it, or to enforce payment of any cla~ms he.eunder, said MORTGAGEE shaN apply to the Gourt having jurisd+ct:on thereof for the appo~ntment of s Receiver, such Court shall forthwith appoint a~eceiver of said mortgaged prooerty all and singular, includ~ng a~l and singvlar ihe incon,e, prof~ts, iss~es and revenues from whatever source derived, each and every of wh~ch, it being expressly understood, is hereby mortgagcd as if speuficatty set forth and descritred in the g~anring and habendum clauses hereof, and such Receiver shali have atl the broad and effecfive tunct~ons a~d powers in anywise entrusted by a Court to a Receiver, and ~~ch appointment shall be made by such Cou~t as an admitted equiry and a matter oi absolute r~ght to said h~ORTGAGEE, and wirhout reference to the adequacy or inadequacy of ~he vatve of the property mortgaged or to the soivency or insol~ency of said MORTGAGOR or the defendants, and ~hat such rents, profits, income, issues and revenues shall be aFplied by such Receiver accord~~~g lo the lien or equity of said MORTGAGEE and the practice of such CouA. 8_ To duly, promptty and fuliy perform, d~scharge, execute, effecr, complete, comply with and ab~de by each a~d every the sf;putations, agreements, conditions and covenants in sa~d promissory note and this mo~tgage set fwth. 9. That in the event the ow~ership of Ihe morlgaged premises, or any part therecf, becomes vested i~ a person olher than the MORTGAGOR, the ~ MORTGAGEE, its svccessors and assigns, may, ~viihout notice to the MORTGAOR, deal wiih such sucteuar or succeszw in interest with relerence to this ~ mwtgage and the debs hereby secured in the same manner as with Mortgagor without in any way viteating or d~xha~ging the Nlortgagors' tiability here- under or upon the debt hereby secured. No sale of the premises hereby mo~tgaged and no forbearance on the part of the 1AORTGAGEE or its successors or assigns and no extens~on of the time for the paymem of the debf hersby secured given by Ihe MORTGAGEf or its svccesswa or ass~gns, ahall operate to retease, d~scharge, modify change w affect the original liabii~ty of the MORTGAGOR herein, either i~ whole or in part_ 10. It is specifical!y agreed that time is of the essence of this contract and that no waiver of any obl~gat~on hereur.der w of the obligation se- ~ ! cured hereby shati at any time thzreafter be hefd to be a waiver of the te~ms hereof or of the insri~ment secu.ed herby. 11. In add:tioa to the forego'n~ month!y paymsnts ot princ"pal and imerest requ~red by the prom:sso~y no!e xcurrd hereby, mo:tgagor covenanTS ; and agrees to pay to mo-tgagee w~th each morohly pay~r.ent an add~rionat sum esr~mated by mortgagee to be eq~ai to 1; 12 of t:~e an~ual cost of the follow- i nt~: A-Rtl real property tazrs fevied or assessed agai•,st thc above descr;~d real estare. B-Prem~u~ns on fire and vr,ndsrorm insurar,ce as herein requ~red to be carried on the ~mprovements situate on the above described premises. ; C-Premiums on such mortgage guaranty ir.s~rar~ce as rnortgagee shall from tnne to time deem fit to carry on the loan secured hereby. Mortgagee sha!i from rime to t~me notify mortgagor in writing of the amount due and payable hereundar and such sum shalt thereupon be due and Fayable on the due dare of the next monthty payment and each successive month thereafter urtil mortgagee shatl not~fy mortgagor of a change in such amount. Such sums sF~:! be apptied by mortgagee towaro the paymenl of teal property taxes, insurance prem:ums, and mortgage guaranty insurance ptemiums. IN WITNE55 'NHEREOF, !he said MORTGAGOR has hereunto set his hand and seat the day and year fir afo~esaid_ ,s~ ned, aled and delivered ' t e pr nce of: " - ca~.y~, FIZED 1.Pl~J RECORQED~ ~s LtlC"C + ~?UP~TY. r=L:=- . cs~at~ a • . ' r=. ~ ^ ~ ' ) (Sealj i ness 1~~~,21 ` ice c rag «"q ' (Sesq # STATE OF FIORIDA • I ~ T ~f~ ~ ~ ' ~ ~ ~ PALM BEACH ~ u- ~ ..i~~-{G~ . . . • • ~ _ ~ . couNn oF : 1: ~ ' Before me penonally appcared ~z~'~i:-Sehrag ~ * _ Al1CQ E. Sehrag CI ~F?!! ~I;Y~'u1T CO~~ his wife, to me well knqwn ajfd kno~rTn to ~1e f~'be ~ ~ the individuals described in and who executed the foregoing instrurtxM, and acknowiedged before me that they executed tfit ~amf ~J"o? /he.pv~pp!¢~ " ~ therein expressed. And the said _ Al1Ce E. Schrag : ! ~ wEfe of the satd Harry H. SChXdg 'vpcit e;ieparatagrid private . i examination by me taken separate and apart from her said husband, acknowledged to and before me that she executed said iogt/N[nN~ {reeyy and volyn- ~ rarily and without any computsion, constraint, appre6ension, w fear of or from her said husbend. WiiNfSS my ha~d a~d oificial seal thi: S~ day of `january " D ~y 7O Notary Public in snd for the State of F at LarQ. My Commission expires: ~ Re1um Toc ; Fust federal Savings ~ Loan.Associat;on g~~f..'~ ~ ~j,- (F ~ - $ Of Fort V~erce. MY CO~'J~.~:•:::.7~ E:t?:'.:.5 i.' ,II`. /J I(~ ~~b ~ Fort Pierce. Fbrida ~OMDED 7MAOL'GH_FRLD w. o~cs:e~:+o~.st ~ , i ~ ~ This Instrument Prepared By J. D. Chastain ~ First Federal Savings & Loan Association ; of Fort Piercey Florida d ~ ~ Checked By ~ ' - } s BOOK ~8Z PAGf ~240 ~ _ • . . r ~ r,,c~ _ .