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HomeMy WebLinkAbout0276 3. To place snd continuously keep on the bui!dings ~ow w hereafter ~ituate on said land and o~ ait equipment and personally covered by thi~ mo+tg~ sgs, with all premiums thereon pa~d in (ull, fire insurance in ~he us~al standard pot~cy form, in a sum approved by the MORiGAGEE, and windstorm insurance in the usual s~andard pol;cy fam, tn ~ ium approved by the MORTGAGEE, in such compa~y or companies si ~he MORTGAGEE may ~ direct; and all fire and windstorm insura~ce poticies on any oi said buildinys, any inte.e~t therein or part thereof, in the aggregate ~um afaessid ot ~ in eacess lhereof, shall con~ain the usual standard mortgagee clause w such other clause as ~he Mo~fyagee may ~rquire, ma?i~g ~he toss under ~aid poif cies, each and every, payabla to said MORTGAGEE ~s i~t interest may appear, and each and eve~y svch po~icy shalt be prompNy ass gned and delivered to eny held by said MORTGAGEE as further secvrity to said matgage debt, and, oo~ less tha~ ten (101 days in advance of the ezpiration o( esch policy, to da I~ve~ to said MORiGAGEE a renewa~ thxreof, toqether with a rece~pi tor 1he premium of such renewal; a~d there shall be ~o f~~e or wi~~ditor~n insurance placed on any of said build~~~gs, any imerest therein or part the~eof, unless in the form a~d with the loss payable aa a(o~zsaid; and in the event any sum of money becomcs payable unda such policy or pol~cies said MORTGAGEE shall have the opt~on to recaive and apply the same on account of the indebted- neu secured hereby w to (xrmil ssid MORTGAGORS lo teteivs and use il p sny part thereof for other purfoxez. .v~tho~t th.reb/ waivi,eg o~ empair- irrg any equity, iicn or rght undcr o~ by virtue of this mo:sgage; and in ~he event sa~d MORTGAGORS shall ta any reason fail to keep the sa~d premisrs so ~naured, or fail to deliver promptly any of said polKies oI insu~ance to sa~d MORTGAGEE, or fail promptly to pay f„Ily any pre~»~~m therefor w in any respect faii to perform, d~scharge, execute, effect, complete, compty wirh and abide by this c~venant, w any pa~~ hareof, said MORTGAGEE may plsce and pay fw such insurance or sny pert thtrtof without wsiving o~ affecting any option, (ie~, eq~ity, or righl under or by virtue o( this Mortgage, and t!?e full amount o( each and every such payment shall be immediately due artt! payable ar.d shaii bea~ interest from the date thereof vntil paid at the rets o1 ' nine per centvm pe~ annum and to~etFur with such i~terest shali be secured by Ihe lien of this mwtgage. I i 1. To permit, commit or suffer no waste, impairment a deteriwation of said property w ~ny psrt thereof. ~ S. To pay all and singulu the costs, thargp and expenses, including a reason~ble attw~ey i fee and costs of abstracts of tifle, incur.ed or paid at any time by said MORTGAG:E, because a in tF~e event of the failure w+ the part of tl~e said MORTGAGOR to duly, promplly and fully perform, d~uharge execute, effecf, complete, comply with and abide by each and every Ihe stipulations, sgreert~ents, co~ditions, and covenants of ssid promisso~y note and this mortgage any or ei~hcr, and sa~d costs, charges and expenses, each and every, shall be immed~ately due and payable; whether w not there be norice de mand, attempt to cottett w suit pend~ng; and the /v!! amoun! oi eath and every svth payment shali bear intere:t from the date thereof until peid at the rate of nine pe. crntum per annum; and alt said coats, charges and expenses incurred a paid, together w~th such inlerest, shall be secured by the lien of th~s mortgage, 6. That (a) in the event of any breach of this Mortgage or defaulr on the pa~t of the MORTGAGOR, or (b) in the event any ot sa~d sums of money herein referred to be not promp~ly and iully paid w~thin th~rty (30) days nex~ affer the same severatly become due and payable, w~thou~ demand w notite, or (c) in the event each and every the stipulalions, agreemeNS, cond;tio~s a~d tovenants of sa:d promissory note a~~d th~s mortgage any w either are not ~uly, promptly and (ully pertormed, d~scharged, executed, effected, completed, comp{~ed with and abided Sy,.then in e~~her or any such event ths iaid a9- ~ gregate sum mentioned in said promissory note then remaining unpaid, with intere;t actrued, and all moneys secured hereby, shalt become due and pay- ab~e forthwith, or thereaiter, at the oprion of said MOR7GAGEE, as fully srrl completely as ii all of the said sums of money were o~iginally supulated to be paid on such dty, anything in sa~d promissory note or in this Mortgage to the contrary notw~thstand~»g; and thereupon or the~eafter at th~ opiion of said MORTGAGEE, witho~t notice or demand, svit at law or in equify, therefae or thereafter begun, may be prosecuted as if a!1 moneys setured hereby had malwed pr,or to ~ts instilution. 7. Thal in the event that at the beginn~ng of or at any time pending any suit upon this hb.tgsge, a to fwec~ose it, or to reform it, w to enforce payment of any claims he~eundrr, said MORTGAGEE shatl apply to the Court havi~g jurisdicfio~ thereof (or the appointrnent of a Receiver, such Cou~f shall Forthwi~h sppo"~nt a ~eceive~ of said mo+tgaged prooerty all and singutar, includ~ng ali and singular the income, prof~t=, issuea and revenues from whatever sour~e derived, each and every of wh~ch, it being eapre;sly unde~stood, is hereby mortgaged as if spec~fically set fw~h and deuribed in tF~e g~anting and habendum dausea hereo(, and svch Receiver shall have aN the broad and effective funct~ons and powers in anyw~se emrus~ed by a Court to e Receiver, and s:.ch appointment shall be made by auch Coun as an admitted equity and a malter of absolute right to said MORiGAGEE, and wi~houf r~ference to the adequacy w iwdequacy of the valve of the property.mortgaged w to the sotvency w insolvency o( said MCRiGAGOR p the defendants, and fAat such renrs, prof;ts, incane, iuves and revenues :hail 5e appl~ed by such Receiver accord~ng to the I~e~ o~ equity of said MORTCaAGEE and the practice of such CouA. 8. To duly, promptly and ful~y pe~form, discharge, earcute, effect, complete, comply with and abide by each and every the stipulations, agreements, conditioro and covenants ~n sa~d promissory note and thfs mortgage set forth. 9. That in the event ?he ownership of the mortgaged premises, o? any part thereof, becomes vested in a person other than the AM1ORTGAGOR, the h!ORTGAGEE, i~s successors and sssigns, msy, wiihout notice to the MORTGAOR, deal with such successor oc successa ~n inferest wi~h reference to this mortgage and the drb~ hereby secvted in the same manner as with Mortgaqor without in any way vitiating or d~scharging the Mwtg~gori liability herr under or uFon the debt hereby sec~red. No sa(e of the premises hereby mwtgaged and no forbearance on 1he part of the MORTGAGEi or its svccessors or auigns and no extension of the time for the payment of the debt hereby secured given by the MORTGAGF'_ or its successors w ass~gns, ahall operate to release, diuharge, modify thenge or afiect tAe orig;nal liability of the MORTGAGOR hcrein, either in whole w in part. 10. It is spec~ficatly agreed that time is of the essence of this contract and that no waiver of any obl~gation hereunder or of the oblgation se- cured hereby shall at any time thereafter be held to be a waiver of the lerms hereof or oi the instrument secured herby. I1. In add:tio~ to the fwego'ng monshty paym~nts of princ"pal and inrerest requ~red by the prom~ssory no!e secured hereby, mortgagor covenants and agrees to pay to mortgagee with each monthfy payr: ent an add~~ional sum estimated by mortgagee to be equal to 1/ 12 of the annual cost of the follow- ing: , A-All real property ta:es levied w assessed agai~st th~ above described reat estate. B-Premiu~ns on fire and wiads~orm inswar.ce as he~ein requ;red to be carried on the improvemeats s~tuate on the above described premisa. C-Premi~ms on such mortgage gua~anty insurance as mortgagee shall from rime to time deem fit to tarry on the loan secured hereby. , AIlortgagee sha~l from tirne to time notiiy martgagor in writing of the amount due and payable hereundrr and such sum shall thereupon be due and Fayable on the due date of the next monthty payment and each successive month thereaf~er ur.til mortgagee shall notify mortgagor of a change in suth amuu~t. Such sums sF.ait be applied by mwtgagee toward the payment of real property tazes, insurance prem;ums, aied mo+tgage guaranty insurance premiums. . 1 Vf7NE55 Y'1HER~OF, the said MORTGAGOR has hereunto set his hand and s a e day and year first aforesaid. S' , Seal and deti in the presen:.e of: ~(LFfl ~:iv~1 tZECO~~~~ ~ ~ ~ . ~~a 1U~:T~'_Y ` a~ ' ~a7Q/G~~J ` csea~ Sesq ' 35 -~s~so - . STATE OF FIORiDA , ` SS»s'~ ~ St. Iuci6 ~ ~ ` ~ cour,m oF i ~4 ~;.Ti' %:i Before me perso~aUy ap~xared a~ ~~'8@ ~~'O~' his wife, to me well known and known to me to be the individusls described in and who executed the for~ o~in~g2 instrument, end adcnowledged before me that they executed the same fw the purposes tnerein expressed. And the uid Zv1~el8@ ~.~$~O ' v.~ife of the said DOI~8t0 ~+614 upon a separate snd private ! examination by me taken separate and apart from her said husband, acknowtedged to and befwe me that she executed said instr~meM freely and volvn- tarily and w~ihout any compulsion, constraint, appreFxns~on, pp fear of o~ from Feer said husband. " WITNE55 my hand and official seal this f~U~ day of Fe q, p, ~q 7~ Notary P in a for the tate of Fbrids at larye - My Com ~uion expires. L~ /9 7/ Retum To-. o r/ fint Federa( Savings b loan Association ``t~~t1111l~ D~ Ct~ I ~ Of Fort ?~erce. ~t~• , . ~ t S~~Is.-. ~"7A S . .i. ti ~ ~.:i.i, ~tdlQ 0 riG!'i~8 Bt Llfqp ~ ' Fort Pierce, Florida + . . ' ~ ,i~~...r...;~~~ .,f, 6, 1911 ` ~ a~.e~._- V ~i lGi'.^,F:S:1.':e tiCpih'S ,..t~. i ? ~`y'~ ~ % ''~'~~?~~e~.~jsr~oca. ~i ; v . , ~ ; Q ~E 1~ - i _.~:'rg,° :'-P c _i'c This Instrument Prepared B 11, ~ ` `=~''J.. = ~ ~ v ?;;-q-.~~°~~•1 P~,'k ~ y John W Co i,~!- ? t~ r ''E:;;~- =f ut ; First Federal Savings & Loan Association ~ y;~,~0~`~~',~ ~~l',^:,~ ' ~~<7-• 'F E OF ~ 5?i ta fb`~t f C,er~ Ci; ••~Cl~ GF ~~~O;E,~~E3 . of Fort Pierce ~ F1oMda '..,p~•,.,- 4~.•:~~;~t tuc~ o~ B/;k~~~ N cU;t ~CUrt ~1 Checked e~ ~~'~iti0 ~~ST~'S~r~f:`'~ :~~n~ T~ Xtl~WLFS ~ Y .r~~!N:tieti~?. By C01IEM~ Rpg ~ BOOK ~SJ PAGE ~ ~ °~utr c~-~r - - ' . . , -~s r ~ ^ '-~1 . _ Y _ _ _ . _ ~ _ _ ~ ..~G ~ ~ . . ~ . . .w~~n.