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HomeMy WebLinkAbout2981 3. To place and contin~ou~ly keep on the buitdings now w here~fMr ~itwN on said land and on all equipmero •nd personally covered by this mort~ sg~, with ~II premiums therew~ paid in full, (ire insuronce in tht usual ttandard po~ity lorm, in a sum approvtd by the MORiGAGEE, and windatwm ~nsurance tn the usual ~~anda.d pol~cy fam, in a sum •pp~oved by ~he MORTGAGEE, in such company or compa~~es as the MORTGAGEE msy dinctp ~nd sll (ire and wiodstorm iniurance policies on any of said build~npt, any intereit therein o~ part the~eof, in the agg~egate sum afwe:aid w in extess the~eof, shall contain ~he usual sfandard matga9ee clauu o~ such other clauu a~ ths Matgagce may rcqu~re, making the ~oss under sa~d poli- ~ ue~, each and eve~y, payable to said MORTGAGEE as its ir.te~est may ~ppear, and each a~d every such policy shall be promptly ats gned a~d delivered ~o ~ eny held by ~aid MORTGAGEE +s further security to said mortgage debt, ~nd, not leu Ihan ten (10) days in advance of the expirat~on of each poticy, to d~- ~ liver to said MORiGAGEE a renewal thereof, to9ethet with a receipt fo? the premium of such renewal; and there shall be no fite o~ windstorm insuranc~ plsted on any of said buildirgs, any interest therein w parl tF~ereof, unless i~ the form and with the los~ payable as aio~esaid; and in the event any sum of money becomes payable under tuch policy w pol~cies said MORTGAGEE shall have the opt~on to receive and apply the same on accoum of the indebted ness secured hereby a ro permit sa~d MORTGAGORS to receive and use it a any part thereof fo~ otner purposes. ~v~ihout ~h,reb~ \Yd/Y1~1~ o~ ~mpair ing any equiry, lien w ~i9ht under or by virtue of this mortgags; ~nd i~ tM event sa~d MORTGAGORS shall fa any reason fail to keep ~he sa~d premises so insured, or fail ro delive~ prompt~y any of said policies of insurancs to said MORTGAGEE, w fail promptly to pay futty any Qre~n~um therefw w~n a~y re~pect fail to pa(wm, discharge, executs, effect, complete, comply with and abide by th~s covenant, a any part hereof, said MORiGAGEE may p~ace and pay fw suth insurante a any part thereof without waivinp a~ffactir?p a~y optiort. lien, eq~~ty, o~ righf under or by virtue of this Mwtgage, and ~he futt smount of each a~d every svcF+ psr~mn~ ahall b~ ~duulY d++e aad PaYable and shall l~~ar_ interest from the date the~eof u~~il paid at the ra~w al nine per centum per annum and to~Nher with such inte.est shall be secured by the lie~ oi thit mortgage. To permit, commit or suffer no wute, impai~ment w deteraration of said property w any part thereof. 1 5. To pay all and singuls? the costs, charges ~nd expenses, including a reasonable attwney i fee and costs of abs~raUS of title, incurred or paid at : any time by said MORTGAGEE, betauu or in the event of the failure on the part of the said MORTGAGOR to duty, promptly and fully perform, dixharge, i eaecute, effect, compWe,_tomply with and +b:de by esch and every the stipulatio~s, agreements, conditiau, and covenants of uid promissory note and thi~ mortgage any o~ either, and u~d costs, cMrges and expenses, cach and every, shall be immediatety due and payable; whether or not there be no~lce de mand, anempt to collect or iuit pend~ng; and the futl amount of each and every such payme~t shall bear interes~ from the date thereo! until paid at the rate of nlne per centum per amiurn; and all said costs, charges and ezpenses i~curred ot paid, together w~th wch intereat, shall be sec~.ed by the lian of this mat9age. ' b. 1'Mt (a) in the event of sny breach of this Mortgage w default on the part of the MORTGA~iOR, or (b) in the event any of satd sums of money herein referred to be not promp~ly and tully paid within thirty (30) days next after the same severatly become due and payable, wiihout demand or notice, or (c) in the event each and every the stipulations, agreements, condifions and covenants of said promissory note and fh~s mortgage any or either are nof ~uly, prompNy and fulty performed, d~uharged, executed, effected, completed, compGed with and abided hy, ~hen in either w any such event the said a¢ 4 gregate wm mentioned in said promissory note thcn remaining unpaid, with iMerest acuued, and all moneys secured hereby, shall become due and pay- able forthwith, a nc~reafter, at the optan of said MORTGAGEE, as fully and completely as if ali of the sa~d sums oi money were orginally slipulated to be pa~d on such day, anything in sald promiuory note or in this Mortgage to the contrary notwi~hstanding; and therevpon or thereafter at the option of ; sa~d MORTGAGEE, w~thout notice w demand, wit at law w in equity, therefore or thereafter begun, may be {xoxcuted as if all moneys secured hereby ~ had matured priw to its institution. 7. That in the event that at the beginning of or at any time pending sny suit vpon this Nbrtgage, w to fweclos~ it, ot to reform it, or to enforte i payrrKnt of any claims hereunder, said MORTGAGEE shall apply to the Court having jurisd~ction thereof fa the appo~ntment of a Receiver, such Court shall ~ Forthwith appoi~t a receiver of said mortgaged proQerty all and singvlar, inclvdmg aIl and singular the income, profits, iuues and rave~ves from whatever , source derived, each and every of wh~ch, it being expressly understood, is hereby mortgaged as ii speci(itally set fwth and dexribed in the granting and ~ habendum clauxs hereof, and such Receiver shall have all the broad and effective funcf~o~: arxl powers in aoywise entrusted by a Couit to a Receiver, and s :~ch appointmen~ shall be made by such Court as an admitted eqvity and a matter of absotute right to said MORTGAGEE, and wiehout refe~ence w the ~ adequacy w inadequacy of the value of the property mortgaged w to the wtvency or insolvency of said MORTGAGOR a the defendants, a~d that such i renrs, profits, income, issucs and revmues shall be applied by sucn Receiver according to the ~ien or equity of said MORTGAGEE and the practice of such CouR. i 8. To duly, promptly and fully perform, diuharge, execute, effect, compfete, comply with and abEde by each and eytry_ 1Fx stipulatioru, agreements, F conditions and covenants in sa~d promissory note and this mortgage ut fath. ~ 9. That in t6e event the ownership of the mortgaged premises, w any part thereof, becomes vested in ~ a perwn other than the MORTGAGOR, the MORTGAGEE, its successws and auigns, may. without notice to the MORTGAOR, deal with such successor or successor in interest with reference to this mo~tgage and the debt hereby secured in the same manner as with Mortgagw without in any way vitiatirg or d~scharging the Mortgagors' (iability hero- i under or upon the debt hereby secured. No sale of the Fremises hereby mortgaged and no forbearante on the part of the MORiGAGEE or its successors ~ or assgns and no extension of the time tw the payment of the debt hereby secured g~ven by the MORTGAGE' or its successors w auigns, ahall operate ~ to release, d~scharge, modify change w affect the original liab~lity of the MORTGAGOR herein, either in whoie w in part. j 10. It is specificalty agreed that time is of the essence of this contract s~d that no waiver of any obqgat~on hereunder or of the obligaYan so- cvred hereby shall at any time thereafte~ be heFd to be a waiver of the terms hereof or of the instrument secured herby. 11. In add~tion to the fwego:ng monthly paym~nts of princ'pal and interest required by the promissory nore secured hereb~r, mortgagor covenants and agrees to pay to mo:tgagee with each monthly paynent an add~~ional sum estimated by mortgagee to be equal to 1,/12 of the annual cost of the follow- ~^9: ; A-All real property taxes levied w assessed against th~ above deuribed real estate. B-Prem~ums on iire and windsto:m insurar.ce as herein requ~red to be carried o~ the improvements situate on the above described premises_ C-Premiums on such mortgage guaranty insurar~ce as mortgagee shall from t~me to time deem fit so carry on the loan secured hereby. j Nlortgagee sha!i Srom time to time norify mortgagor in writing of the amovnt due and payable hereunder and such sum shall thereupon be d~e and ~ Fayable on the due oare of the next monthly payment and each successive month thereafter urtil mortgagee shall notify mortgagor of a change in s~ch - ~ amo~nt. Such sums sF.all be applied by mortgagee toward the payment of real property tazes, insurance p~em:ums, and mortgage guaranty insurance premiums. IN W TNESS YlHE "Of, the said MO 1GAGOR has hereunto set his hand and seal the day and year first afaresaid. ~ S" aled a ed ' presence of: ~ ~ ,l.,u t (c'°q ~ r (Seal) ~ ~ ~Sean ~ ~Seal) A ~ STATE OF FLORIDA l ; . ~ ~ i ~ COUNTY OF $t. .I.UCl@ _ Before ~~~~iy appeared Bvelyn Sheffield, A Widow ~ ~ Iwrwife, to me well known and known to me to be ~ the individush,sl,~escribed in snd who executed the foregoi~g ir?strument, and acknowledged before me that Si~ executed the same for the p~rposes aaC ~ therein expresard.~ t~-th.r+ei~ ~ ~vff~ d-fFr~ ssid ePo" ~ sepn''Me ~wd'P'rf'"N° exsiw'Mati«rY~r~ws-f~ n~~rN~an~~aN-f+ow?-hri.~aid.hesDanira~hwsNlede~l-lsend-bef~re~ne-~ba~shetwewAd~saiaLiwNwiw~w+~kMly~wt~vo~IM~- ¢ ~riF~ ~sn~-w~F~ev? ~ny-cernpuFsien, terrstroiMr ~pprei+ena+e~nr K-fea? ~sF ~ww~ii Jurs~ewr. ~ ; ; . WITNESS my hand and official seal this ~G ~ day of Februar =`~~.~:i9,`l0 _ _ . - y'j~~'~~~'~ ~r,-_i° Notary Public in snd for th0 Sf3~ ~t ~ ? ~ My Commiuion expires: -/~~~~j~~~~ix; , t ;4 R°~"`" T°: FILED ANO RECORDEE}~,..-,~_..t~ Y~ ,a~~ = Fi.sr Fede.a~ sav7ng: a loan e?ss«iat~w, ST. LU C I E C 0 U NTY. FLA:-, ;3ti`'`"""~~ +P'.: ; ~ Of Fo~t P~erce. ;~rri'1:?!i tR:~ ~rn ~if ~ j ~ ! ~r • • r ~ ' . , Port Pierce. Florida s ~ ~ a ~ . . _w ~ : ::~+a•;,,a-'. _ i~ '70 FE8 I 7 PM 2. 45 3!~ l This Instrument Prepared By J. D. Chastain , T ~ ; First Federal Savings & Loan Association ~ of Fort Pierce ,Rlorida ? = 0~ ~ R:.S ~ 'F, CL~r<K C1RCU:T CO'JRT, ~ Checked By ~ ~ 600K1~~ Pat;f~J ~J ~ cf _ . - ~ ? j: . ~ - , _ , _ ~ . .