HomeMy WebLinkAbout2722 3. To plac~ and continuoualy keep on ~F+s buitdingi now a here~fta ~ituat~ on iaid land and on all equipment and personally covered by thi~ mw~g-
+g~, wi~h ~II prsm~ums ~her~wn p~~d in 1u~t, fire insvrance in ths usual star+dard policy form, in a sum spproved by the MORTGAGEE, and windstorm
iniursnce in tM usu~l itanda~d pot,cy fam, in • sum approved by the MORTGAGEE, in such company or companies a~ the MORTGAGEE may
d~recfp u~d all fire and w~ndstorm ins~rance policiei on any of said build~nys, any interest therein w part thereof, in the agg~ega~e ium afwesaid or
In 1xCHi thereof, ~ha!! coniain the usval standard mortgagee clsuse or such aher dause ~s tM Mort~sgee may requue, makinq ~he loss unde? sa~d poli-
cies, each and every, payab~a to ss~d MORTGAGEE as its in~errst may appear, and each and every such policy shatl be promptly au.gned a~d detivered to
+ny heW by iaid MORTGAGEE ss furthe~ secvriry to said mortgage deb1, and, not leu than ten (10) days in advance of fhe expiration of each policy, to da
liva 1o iaid MORTGAGEE a ~enewai thereof, together with a receipt fw the premium of such re~ewaf; and Ihere sha{I be ~o iire or windstorm insur~nce ,
placad on any of said buildings, any interest therein w part thereof, unleu in the form and wirh the !ou payable a~ aforesaid; and in tF+t event any sum
oi money becomes payable uoder such policy a policies wid MORTGAGEE shall Mve the option to reteive and apply the sa~ne on accou~t oi the indebted
neu ucu~ed hereby w ro permit said MORTGAGORS ro receive snd uss it w any pa~t thereof for o+her purposes, v.~~ho~t ih.reb~ wai~~~~~ or ~m,~air-
ing ~ny equity, tien or right vndtr w by virtve of thia mo:ryage; a»d in !hs event said MORTGAGORS shall fw any reason fail to keep the :aid premisei so
~nsured, w Esil to deliver promptly sny of saEd polKies of i~surencs lo wid MORTGAGEE, or fail promptly to pay fully any p~emium therefor or in a~y
respett fail to perfo~m, discharge, execute, effect, complete, compty wi~h +nd abide by this covenant, or any part hrreof, said MORTGAGEE may ptsce and
i
pay ta such insurante or any part thereof witAout waiving w affectinp any option, lie~, equ~~y, w righ~ unde~ or by virtue of this Mortgage, and the ~
fuli ar.-cwn1 of each and every such payment shall be immediately due a~d payable and shall bear i~terest fran the date therea( ~ntit paid it the ~ate o}
nine per cenrvm per annum and together with :uch inte~est shall be secured by the lieo of this morfgage. ~
1. To mit, commit w suffet no waste, im ~
pe~ pairmenf a deterioration of said p?operty o? a~y part thereof. ,
5. To pay all an~ singulu the coats, charges and expenses, including a reasonable attorney's fee and costs of abstracts of title, incurred or paid a~
any time by said MORTGAG:E, because w in the event of fhe failu~e on the part of the said MORiGAGOR to duly, promptly and fully perform, d~uharqe,
execute, e(fect, comp}ere, comply w;~h and ab~ds by each and every the stipulat~ons, agreements, conditions, and covenants of sa~d promissory note and this
mortgage any w either, and u~d costs, charges and expenses, each ancl every, shall be immediately due and payabte; whether o? not there be nof;ce dr
mand, attempt to toftetf pr suit pent(in9; and the futt amount of each and every such payment shall bear interesl from the dat~ thereof until paid at the
rate of nine per centum per annum; a~d all sa~d msts, charges and expenses incurred or paid, together w~th such imerest, shall be srcured by the lien of this
motty~ge.
6. That (a) in the event of any breach of this Mortgage w defa~tt on the part of the MORIGAGOR, or (b) in the event any ot sa~d sums of money
herein referred to be not promptly and fully paid within thi~ty (30) days next afte? Ihe sam: severally betome due and payable, without demand or notice,
or (c) in the event each and every Ihe stipulations, agreements, conditions and tove~ants of sa~d promiuory note and th~s mortgage any or eirher are nof
~uly, promptty a~d fuNy performed, d~stAarged, executed, eltected, completed, complied with and abided ~iy, then in either w any such event the said ag-
gregate ium ment~oned in said promissory note then remaining unpaid, with intere:t accrued, and a11 moaeys secured hereby, shalt become due and pay-
able forthwith, p thereafter, at the option of said MORTGAGEE, as fully and complerely as if a~! of the said s~ms of money were or~ginally st~pulated
to be pa~d on such day, anything in said promiasay note c r in this Mortgage to the contrary notwithstanding; and thereupon or thereafter at thq op~ion of
said MORTGAGEE, without notice o~ demand, suit at law or in eq~ity, therefore or thereafte~ beyun, may be prosecuted as if aN moneys secured hereby
had matured pnor to its irotitution.
7. Tha~ in the event that at the beginning of or st any time pending any suit upon this Mortgage, or to forectase it, w to reform it, or fo enforce
payment of any claims 1x~eunder, said MORTGAGEE shall apply to the Cou.t having jurisdiction thereof for the appointment of a Receiver, such Court shall
forthwith eppoinf a receiver of said mortgaged pioperty al~ and si~yvlar, intlud~ng all and singular the income, profits, issues and revenues from whatever
source derived, each and every of wh~ch, it being expressly understood, ia hereby mortgaged as if specifically set fo~th and described in the g~anti~,_ and
habendum clauses hrreof, and such Receiver shatl have all the broad and effective functions and powrn en anywise enfrusfed by a Courf to a Receiver, and
auch appointment shall bc made by such Court as an admitted equity and a matter of absolute right to said MORTGAGEE, and wirhout reference to the
edequacy w inadequacy of the valve of the propc~ty mortgagecl er to the wtvency or insolvency of said MORiGAGOR or the defendanrs, and rhat such
renrs, profits, income, issues and ~evrnues sball be applied by suci? Receiver accwding to the lien or equity oi said MORTGAGEE and the practice of such
Cwrt.
8. To duly, prompfly and futly perform, discharge, execute, effect, mmplete, comply with and abide by each and every the stipufations, a~reements,
condit'ans and covenants in said promissory nore and th]s mortgage set for~h.
9. Thal in the event the ownership of the mortgaged premises, w any pa?t thereof, becomes vested i~ s person other than the MORTGAGOR, the
MORTGAGEE, its successors and auigns, may, withovt notice tp the MORTGAOR, deal with such succeuor or s~ccessor in interest with reference to this
mortgage and the debt hereby secured in the same man~er as with Rbrtgagor withouf in any way vitiating w d~scharging 1he Mortgagors' iiability here-
under or upon the debt hereby secured. No sale of the Fremises hereby mortgaged and no forbearance on the part of the MORTGAGEE ar its successors
or assigns and no eztension of the time for the payment of the debt hereby secured given by ihe MORTGAGE'_ or its successors or auigns, shall operare
ro release, discharge, modify change w affect the original liability of the MORTGAGOR herein, either in whole or in part.
10. It is specifically agreed that time is of the essence of tF~is contract and that no waiver of any obl~gation hereunder or of the obligatan se-
cured Fxreby shall at any time thereafter be held to be a waiver of the terms hereof a of tFx instrument secured herby.
11. In add;tion to the forego:ng monthly paymems of princ"paf and interest required by the promissory nore secured herrby, mortga~or covenants
and agrees So pay to mortgagee with each monthty payment an addirional sum estimated by mortgagee to be equal to 1 j 12 of the annual cost of the follow-
ing:
A-All real property taxes levied or assecsed against the above described real esiate.
8-Premiums on iire and windstorm insurance as herein requ~red to be caneed on the improvements s;tuate on the above described premises_
C-Premiums on such mortgage guaranty insurance as mortgagee shall from time to time deem fit to carry on the loan secured hereby.
Mwigagee shall f~om time to time notify mortgagor in writi~g of the amount due and payabte hereunder and such sum shall thereupon be due and
payable on the due date of the next monthty payment and each successive month thereafter urti! mwtgagee shall notify mo~tgagor of a change in sucb
a~r:ount. Such sums sF.all be app:ied by mortgagee toward the payment of real property taxes, insurance prem;ums, a~id mortgage gua~anty insurance
premiums.
IN WITNE55 NHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and year first aforesaid.
s~s?~d seei~d a~a de~~Ye~ea • t~ we~ of: FILEO AND RECORDED' ~n' ~ ~
ST. LUCI~ t^,OUNTY. FLA. „I,~Sc~ S! ,,t~ r~aq i
:~=.CO~?,. V~Ft~ ~ ~
)
18~'~~ F , .L.~-f~ ,L~ry ~
'70 FE8 I 3 AM 10 : 9 y an
STATE Of FIORIDA ~ '
ST . UIC I E
COUNTIf OF ~a
8efwe me pe 1! appeared rgttr ^ ` Zt
Wi~~a M. A ert ~ ""d
his wife, to rr.e well keown and known fo me to be
the individuats desvibed in and who executed the foregoing ~instrumeM, and ackrwwledged befue me fhat they executed the same for the purpoaes ;
there~n expressed. And the said Wilda M. Albert ~
W;i~ of tn~ ,~;d Paul D. Albert
vpon a separete and private 7
examinat~on by me tsken separote and apart from her said husband, scknowledged ro and before me that she executed said i~strumeM freely and volun~
tarily and withoW a~y compulsion, constraint, apprehe ~ on~ fea~ of a from her said husband. ~
WITNESS my hand and official seal this dsy of Febru ary q, 0. t9 7O ~
~ /,t~~,
~
ary'Pyblk m and fo~r the State of Ftorida af larya
~Ay ~i~i~,INf ~~tpires:
Fir:t Feder~l SaRetusnaolosn Associafion >>~~!~~,1,,~HUH„r~•I~~~
- Q~~'~~ -
"g ~ , . ~i STATE OF F1DAlAA AI i
Of Fort P~erce. •!~yy ~~J ~~'.'~"~i~wri~e,.~~r~ ~R~ $E~ 7~
, Fort Pierce. Florida , ~~~~j; 'F'ti~• G~~~~~ ~
iT •'~,:~'rs f.,.~(~ i % ~ ~
• :-~-.~,t.~' ~ iJ~..:
- q -~3-73
This Instrument Prepared B J• D. Chast~ ~:~-~`~~J~~. ~.;.`'~i~-~."~
y . ~ : (4"' c~; ,
First Federal Savin s 8 Loan Association f'~
.,~r.: ~ . .s~?.
9 ~ ~
of Fort Pierce ~ Florida ~''.,~c~l~ -h; 'C~;.' _
'S .
~ ~~~~/tJ/1~11~1N~~~
4``~ '
Checked By ~ h d - , `.~n~
eO~K ~~~r PAI~~~~, ! ' • .
.
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