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HomeMy WebLinkAbout2585 , . 3. To place and continuousiy kcep on the bui:dings now w hereafle~ ~ituats on sa~d land and on ali equipment ~nd pe?sonally covered by this ma~g- sgs, with aii premiums thereor? pa~d ~n (ull, fire insurance in the u~ual standard policy form, in a sum approved by ~he MORfGAGEE, and windstorm insurance in ?he usua~ standard pol~cy fam, in ~ sum approved by the MORiGAGEE, in such company or canpan~es as ?he MORTGAGEE may diretl; and all (ire and w~ndstorm insura~ce policiea on any of said builo:ngs, any inrerest therein or part thereoF, in the agg~egate sum afwesaid w ~ in excess ~hereo(, shall con~ain tFvs usual standard ma~gagee clsuse o~ such other clause as the Mortg~gee may requ~rs, making the loss under sa~d polh i ues, each and every, payable to said MORTGAGEE as ~•t interEit may appcar, and each and every such pc~licy shall be promptly ass gned and delivered to any held by uid MORTGAGEE as iur?her security to said mwtgage debt, and, not less than ten (10) days in advance of the exp~rat~on of each policy, to da liver to uid MORTGAGEE a renewul thereof, togethe~ with a receipf for the prert~ium of such renewal; and there shall be no f~re or w~ndstorm insurance placed an any of said buildings, any i~terest there~n w part thereof, unless i~ tF~t form and with the loss payable as aforenaid; and in the event any sum ! of money becaY:es payable unda~ such polity a pol~cies uid MORTGAGEE shall have the op~ion to receive and apply the same on account of the indebted~ : ness secu~ed hereby a to pcrmit said MORTGAGORS to rcceive snd uss it w any part Ihereof ior oti~er purposes, v.ithout th:~cur .vaivin~ or unpJir- ~ ing any equity. I~en a ri9ht under or by virtue of ~his mortgage; and in the even? sa~d MORTGAGORS shall Eor any reason fail to keep the sa~d prem~sas so i insured, w fail to deliver promptly ~ny of said po~ities of insurance to said MORTGAGEE, or fai! promptly to pay fully any pre~nium therefor or in a~y ~ respect fail ro perfum, dlscharge, execvie, effect, completa, canpty with and abide by this covenan?, a any part hereof, said MOR7GAGEE may place and pay fa such insurance o~ any part thereof without waiving a affeding any option, lien, equity, or righ~ under a by virtue oi this Mortgage, and the = full amovnt of cach and every such payment sha~l be immediately due and payable and shall bear interest from the date thereof until paid a1 the rate ol nine per centum pe~ annu~n and to~ether with iuch interesf shall be secured by the lien of this mortgage. 1. To permit, tommit or s~ffe? no waste, impairment ot deterioration of said property or eny parl thereof. 5. To pay all and singular the costs, cMrges and expenses, including a reasonable attwney's fee and costs of abstratls of title, incurred o? paid st ; any time by said MORTGAGEF, because or io the event of the failure o~ the part of the said MORTGAGOR to d~ly, promptly and fully pe~form, discharge, execute, etfed, complete, comply w~th and ab~de by each and every the stipulat~ons, sgreementa, conditions, and covenants of sa~d promissory note a~d this mwtgage any w eiiher, and said costs, charges and expenses, each and every, slwll be immediaiely due and payabte; wherher p not the.e be notice de ; mand, attempt to colled or suit pending; and the full amouM of eath and every such paymero shall bear iNerest from the date thereof until paid at tl~e j rate of nine per centum per an~~um; and all said costs, charges and expenses inturred o? paid, together w~th suth interesl, shall be secured by the lien of this mortgsge. 6. Tha1 (s) in the event of any breach of this Mwtgage or default on the part of the MORTGAGOR, or (b) in the event any of sa~d suR+s of mo~ey herein referred to be not promptly and fully paid .vithin thirty (30) days next after the same seve~a!ly become d•x and payable, withoul demand or notice, or (c) in the event each and e~eery the stipulations, agreements, conditions and covenants o} sa:d promissory note and th~s mor?gage any or cither are not ~uly, promptly and iutly performed, d:scharged, eaecuted, effected, completed, complied with and abtded ~iy, then in either w any such event the said ag gregate sum mentioned in said prarlisswy note then remaining unpaid, with inte~est accrued, and all moneys secu~ed hereSy, shall become due and psy- abte forthwith, or thereafter, at the option of said MORTGAGEE, as fully and completely as if all of the said sums of mortey were originally stipulated to be pa~d on such da~r, anythirg in sa:d prom~ssory note or in this Mortgage to the contrary notwithstanding; and thereupon or thereafter at the opt~on of said MORTGAGEE, without norice or demand, suit at law w in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby had matured pnor to ~ts institution. 7. That in the event that at the beginning of or at any time pending any suit upon this Mortgage, w to foreclose it, or to reform it, or to enfo?ce payment of any claims he~eunder, said MORTGAGEE shall apply to the Court havirg jurisd~ction ~hereof tor the appo~ntment of a Receiver, such Court shall Forthwith appoint a receiver oF said mortgaged pronerty all a~d singular, includ~ng all and singular the inco~ie, prof~ts, issues and revenues from whateve~ source derived, each and eve~y of which, it be~ng expressly understood, is hereby mwtgaged as if specifically set fwth and described in the gra~ting and habendum clauses hereof, ar.d such Receiver shall have all the b~oad and effective funct~ons and powers in anywise entrusted by a Court to a Receiver, and :uch appointment shatl be made by such Cou~t as an admitted equity and a matter of absolute right to said MORTGAGEE, and without referente to the edequacy or inadequacy of the vat~e of the property mortgaged or to ~he sowency or ~nsolvency of said MORiGAGOR a the defendants, and that such renrs, profits, income, issues and revenues shall be applied by such Receiver accord~ng fo the lien or equity of said MORTGAGEE and the practice of such Court. ` 8. To duly, promptly and fully periorm, discharge, execute, effect, mmptete, comply with tnd abide by each and avery the atipulations, agreements, conditans and covenants ~n sa~d p?om~ssory note and this mwtgsge set forth. 9. That in the event the ownership of the ~*wrtgaged premises, o~ any part rhereof, becomes vested in a person other than the MORiGAGOR, the MORTGAGEE, its successors and auigns, may, without notice to the MORTGAOR, deal with such successor or successw in interest with reference to this mortgage and the debt hereby secured in the same manner as with Mo~:gagor w~thout in any ~vay vit~ating a d~xharging the Mwtgagors' Iiability hEra under or upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the pari of ~he MORTGAGEE o~ its successors or assig~s and no extens~on of the t~me for the payment of the debt hereby secured given by the MORTGAGE~ or its successors or ass~gns, alwll operate io release, d~scharge, modify change w afEect the orig~nal liab~l~ty of the MORTGAGOR herein, either in whole or in part. 10. It is spec~fically agreed that time is of the essence of this contract and that no waiver of any obtigation hereunder or of the obligation se- cured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the instrument secured herby. Il. In aod,tio~ to the forego'ng rtionthly payments of princ'pal and interest requ~red by the prom~ssory nore secured hereby, mortgagor covenants and agrees to pay to mo:tgagee with each month~y payrnent an add~rional sum estin:ated by mortgagee to be equal to 1/12 of the annual cost of the follow- 'ng: - A-All reaF p~ope~ty ta:es levied or assesied against the above dexribed real estate_ B-Prem~v~ns on fire and windstorm insurar.ce as herein requ~red to 6e carr;ed on the improveme~ts situate on the above described premises. C-Premiums on such mortgage 9uaranty insurance as mortgagee shall irom t~me to time deem fit to carry on the ban secured hereby. I Mwtgagee shail from time to time notify mortgagor in writing of the amount due and payable hereundrr and wth sum shall thereupon be due snd i payable on the due date of the next month'y paymen? and each success~ve month thereafter urtil mortgagee shall notify mortgagor of a change in such i amount. Such surns sFail be applied by mortgagee toward the payment of real property taxes, insurance prem,ums, a~id mortgage guaranty insurartce premiums. • IN WITNESS WHEREOF, the said MORTGAGOR has hereunto set his ha~d and seal the day and year first afor id. Signed, Sealed and delivered in the presmte of: ~ ~ 1_S~ j~ ~s~.+ ~ +0 ~ ~:'t' ss ert H. Rue ~a~ 7~ s~aa ~ '7~1 TIeSS IO y Id~ @ ~Seaq ~ STATE Of E~C i•~Y'~,i~i~U ~ ~ . COUNTY OF ~-oe.~ ,~~y~J Before me personally appeared Gilbert H Rue and Dorothv :dT• Rue his wife, to me well known and known to me to be ~ the individuals described in and wFw executed the foregoing instr~ment, and atknowledged befwe me that they executed the same for tFro purposes rF±erein expressed. And tF~e said Dorothy Ri1Q wife of the said Gilbert H• R11@ upon a sepa~ate and private ~ e:amination by me taken separate and apart from her said husband, acknowledged to and before me that she executed said instrument freely and volurr tarity and wilhout any compulsan, constraint, apprehension, p[_,fEar of or from Ixr said husband. ~ WITNESS my hand ant! official seal this 3 O~ day of ,'~rCh A- D 1970 ~ 9 ~i.?~ ~ l.~r _ ~ ~ Notary Public in and fa tFx State of.f ~ z My Commiuion expir . 1I ~ I~ b i"••••~ - ~ Retum Ta ~ J ~ ' 4 ~ ~ t . First federal Savings 3 loan /lssociation ~M~" EIP ~ ~~i ? 0 • / a"S-'- t3 . ~ Of Fort P~erce. ~-~3,• ~~;r '_~~n ` + . Fort Pierce, Florida FIlEO AND~ R~CORQ~ ;,~~ik?t~j ~ . ~ ST. ~UCIE COUNTY, fLA. .Yys t~~ : ~ ~ fl~-.~n~[~ ~~ERI~I~D "^;~;~i: •d r;-:;; John ~.1. Collins 1-91809 " ~ ' This Instrument Prepared By ~ ~ ~ First Federal Savin s 8~ Loan Association ~ 6 P~ Z• ZS ~ 9 70 APR • ~ ~ of Fort Pierce ~ Floz ida L i~~ ~ ~ Checked By k~GE=N ~ U' ~ RAS ~ CLERK CIRCUIT GOURT ~ ? ~ ~~K 183 PAGE 25~2 ~ , ~ - - - _ _ _ _ _ = - ~ . _ . . - ~ - - r~= p~ ~ Q_ _ . . ~ a- ~ ~ ~~~~ti ~ ~