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HomeMy WebLinkAbout2544 3. To place and conti~uously keep on the buildingi now w hereaft~~ ~ituate on sa~d land and on alt cquipment and personally covered by this maty- egs, with all premiumi thereon paid in full, fire ir.surance in the us~al sta~dard policy (orm, in a sum approved by the MORiGAGEE, a~d winds~orm Insurance in the usual standard pol~cy fwm, in ~ sum app~oved by ihe MORTGAGEE, in iuch company or compan~es as the MORTGAGEE may direct; ~nd al~ fire and w~nds~orm insuroncs po~Kies on sny oi said build~ngi, any imerest therein or part thereof, in the agg~egate s~m afo~esaid or in excess ~hereof, shall conta~n the usual ~tandard mortgagee clause w auch other clause as ~he Mortgagee may requ~re, making the loss unde~ sa~d pol~ cies, each and eve~y, payab~e to said MOR7GAGEE as ~ts interes~ may appea?, and each and every such poi~cy shall be p~omptly ass gned and de~ivered ~o any he~d by sa~d MORiGAGEE as further secu~ity to said mortgage debt, and, not less than ten (10) days in advan:e of the exp~retion of each policy, to da 1ive~ to uid MORiGAGEE a renewal Ihereof, together with a receipt for the premium of such ~enev`al; and there s~all be no i~re or wi~dsro~~n insurance placed on sny of said buildings, any interetf therei~ or part thereof, unless in the form and wifh ths loss payable as aFo.esaid; and in the event any sum of money becomes payable under such poliq or po~icies said NtORTGAGEE shall have ~he option to receive and apply the same on account o( the indebted- neu secured hereby w ~o permit said MC~RTGAGORS ro receive and uu it a any par~ thereof for o:i~e. pu:poses, ~•~ithout ~h_•.ui waw~•~g cr ~~npair- ing any equify, lie~ w right unde~ or by virtue of this mo::gage; and in the event sa~d MORTGAGORS shall for any reason fa~l to keep the said premisrs w insured, w fail to deliver p~omptly any of sa;d polKies of insurante to said MORTGAGEE, w fail pro~nptly to pay fully any pre~~uum thcrefor w in a~y respect fail to perfwm, d~scharge, execute, effrct, complete, comply with and ab~de by this covenant, a any part hereof, said MOR7GAGEE may place and pay for such insurence or any part thereof without waiving or af(ecting any option, ~ien, equity, w righf under w by ~irtue oS ~his Mwtgage, snd the full amount of each and every such payment ihall be immediatrly due and payable and shall bear interes~ from the date ther..wf intil pa~d at the rate of n~ne per centum per annum and to~elher with such interest shali be szcured by the lien of thii martgage. 1. To pe~mit, commit or suffer no waste, impairment w deterioretion of said property or any part thereof. 5. To pay all and singulsr the costs, charges and expenses, including a reasonable attwney's fee and costs of abstracts of title, incur.ed or pa~d a~ a~y time by said MORiGAGfE, because a in the event of the fa~lure on the pan of the said MORiGAGOR to duly, pron,ptly and fully perform, d~scharge. execute, effect, complete, compty w~ti? and -ab:de by each and every the stipulat~ons, agreements, conditions, and covenants of sa~d p~om~ssory note and thii mortgage any or e~ther, and said costs, charges and expenses, each and every, shall be immediately due and payable; whe~her or no~ there be ~+ot~ce da : ma~d, attempt to collect or suit pending; and the full amount of each and every such payment shall bear in~erest Irom the date thereof until paid at the ' rate of nine per centum per a~num; and all said costs, cherges and expenses incurred a paid, together wuh such interest, shall be setured by the lien of thii mo?tgage. ' 6. That (a) in the event of any breath of this Mortgago or default on the part of the MORTGAGOR, w(b) ~n the event any of sa~d sums of mo~ey herein referred to be no1 promptly and fully paid within thirty (30) days r.e,et after the same severalty become due and payable, without demand o? notice, } or (d in the event each and every the slipulations, agreements, condrtions and covenants of sa.d promiswry note and th~s rr.ortgage any w either are not ~uly, promptly and iully performed, d~scharged, execuied, effected, compteted, compl~ed wdh and abided `ay, then in e:ther or any such event the said ag grcgate sum mentio~xd in said promissory ru~te then remaining unpaid, with interest accrued, and all moneya secured hereby, shall becom~ dve er.d pay- able lorthwith, w therealter, at the option of said MORiGAGEE, as fully and completely as if alI of the sald sums of money were o~~ginetly st~pulated to be pa~d on such day, anything in sald promisswy note w in this Mortgage to the con?rary not.vithstand~ng; and thereupon w thereaiter at the option of said MORTGAGEE, without notice or demand, suit at law or in equity, lhereFore or Ihereafter beg~n, may be prosecuted as if all moneys secured hereby had matured pnor to ~ts institution. 7. That in the event Ihat at the beginning of w at any time pending any suit upon this Mortgage, a ta foreclose it, w to reform it, or to enforce payment of any claims hereunder, sa:d MORTGAGEE shatl apply to the Court having jur~sd:c~~on thereof for the appo~ntment of a Receiver, such Court shall forthwith appoint a receiver of said mortgaged prooerty all and singular, i~clud~ng all and singular ~he income, pro(~~s, iuu~a and revenues from whatever source derived, each and every of whrch, it being expressly understewd, is hereby mortgaged as if spx~(icaliy set fo~th and described in the granting a~d habendum clauses hereof, and such Receiver shatl have all the broad and effective funct~ons and powers in anywise entrusted by a Court to a Receiver, and :uch appointment shall be made by such Court as an admitted equity and a matter of absotutr r~ght to sa~d MORTGAGEE, and without reference to the edequacy w inadequaty of the value of the property mwtgaged or to the sotvency or insotvency of said MORiGAGOR oa the defendants, artd that such ren~s, profits, income, issues and revenues shall be applied by such Receiver actording to the lien or equiry of said MORTGAGEE and the prectice of such Court. 8. To duly, promptly and fully perfwm, discharge, e:ecute, effect, complete, tomply with and abide by each and every the stipulations, agreementt, conditions ar.d covenanrs in sa~d promisso.y rw~te and this mortgage set forth. - b 9. That in the event the ownership of the mortgaged premises, w any part thereof, 6ecomes vested in a pe~son other than the MORTGAGOR, the h10BTGAGEE, its successors and assigns, may, wifhout no~ic,: to the MORTGAOR, deal with such successw o~ successor in iroerest with reference to this mortgage and the debt hereby secured in the same manne• as wiih Mortgagor without in any way vit~ating a dixha~g~ng tFx Mortgagors' liability hero- under or upon the debt hereby secured_ No sale of the premises hereby mortgaged and no forbearance on the part of the MORTGAGEE w its s~ccessors or assigns and no extertsion of the time for the payment of the debt hereby secured given by the MORTGAGE'_ or its successws u auigns, alwll operate s 1o release, discharge, modify change a affett the wiginal liab+l~ty of the MQRiGAGOR herein, either i~ whole or in part. _ 10. it is specifically agreed that time is of the essence of this contrac~ and that no waiver of any obligation hereunder or of the obligaYqn se- cured hereby snalt at any time thereafter be held to be a waiver of the terms hereof w of the instrument secured herby. 11. In add~tio~ to the forego:ng monthl~ paymants of princ'pal and interest required by the prom~ssory nore secured hereby, mortgagor covenants and agrees to pay to mortgagee with each morohly payrnem an add~rional sum est~m.ated by mortgagee to be equal to 1~' 12 of the annual cost of the follow- 'ng: A-All real property taxes levied or assessed against the above descri5ed real estate. B-Prem~u~ns on iire and windstorm insurance as herein requ~red to be carried on the improveme~ts situate on the above describe~ premises_ C-Pre~niums on such mortgage g~aranty ir.surar~ce as mortgagee shall from t:me to time deem fit to carry on the loan secured hereby. ~ --Mossgagae_shail_:c~lmieln i[me_nviiiy-u~ot;yQy1'vLu,~;is.;~-;.~ the amo~~! due and oayable hereunder and such sum shall thereupon be due and ~ payable or. the due dat~ of the next monthly payment a~d each successive month thereaiter ur.til mortgagee shall notify mortgagor oi a change in such i amou~t. Such s~ms sh.ail be applied by mwtgagee toward the payment of real property taxes, insurance prem:ums, and mortgage guaranty insurance premiums. IN YlITNESS WHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day a year first afor id. ~ Si aled a deliv r in presente of: ~ +n ~ (SeaQ ~ ~Sea4 (Seal) STATE OF FLORIOA ) ` S? . LUt, I E } couNn oF ~ Before me penonally appeared E~II W. BaIt10W, a widower ~c~ ~r~stl~, to me well known and known to me to be the individua~ deuribed in and who executed the foregoing instrument, and acknowledged before me that Iher exec~ted th~,;sortwi!''fOf~ ~e~ purposes ~ therein exp~esxd. ~~iiCiLAL ~,'\?-t~~ .r,' ~ ~ ~i~i0[l@C]L~¢~ it~ X ~ ~i;.,~ _ ~ WITNESS my hand and official seal thi~ 3~ dsy of A ri 1-: - ~ ~ • D~. l, y a LJ' Cl ~ § V ~ ~ ~ Nofary PuWit in and fw.the Sta1e q~ ids . ~ Lb!'X/}7V. • My Commasion expires. ti_;~.` ~ Retum To: ~ 3f• " • ~ FI~EO taND RECOROEO ~ ~~``ti~i~-S~~'' finf Fedewl Saving~ ~ loan Association `~4~.~hn~~~~ -r Of Fort P~erce. ' ~-U~-~L CQUi~TY ~ ~ ~ - F A. - Fort Pierce, Florida ^ ~ ~ r / a ~ 3 H / ~ 191`781 ~ ; s,~ r" 3 P~M 3: 3 8 : ~ This Instrument Prepared By Wm. E. Braun ~ First Federal Savings & Loan Association of Fort Pierce , Florida _ T ' t~+,?%.S ' Checked ey ~ f< i^ L~ l T C Q U RT ~ ~ r- BOOK~V~ ~~~E~~~~ - - - - . , ` ~ , : ~ ~ ____¢~r . . _ . . ~ . . .