HomeMy WebLinkAbout0177 3. To plac~-and continuousy keep on ih~ buildinpi now or Mr~aft~r s~tu~t~ o~ said land and o~ ~II eq~ipmcnt u+d p~rionally cov~red by this mon~
ags, w]th ~II premi~ms thereon paid in full, fir~ insur~nct in the usual s~andard policy form, i.~ a sum ~pproved by ~he M~RiGAGEE, and winditam
insur~~ce in ths us~al s~andard policy fam, in • sum ~pproved by tM MORTGAGEE, in svch company w companiea as tlie MORTGAGEE may
diracl; a~d all fire and windstorm ir?w~ante policies on ~ny of said build~nqs, ~ny inttre~t fherein or part thereof, in the agg,egatQ aum alatsaid or
In exuu thereof, ihal) contain tl~e vsual ~tandard matpage~ clause w such o~he+ ctauss as Ihs Mat9~gee may rcquire, maMing the lou u~da said poli-
ciei, eech u?d every, payable ro asid MORTGAGEE as ita imerest may appear, and each and eve~y such policy ihall be promptly ass:yned snd delivered to '
anY held by said MORTGAGfE ss further ietv~ity to said mortysge debt, and, no? leu than ten (10) days in sdvance of the expiration of each policy, 1o de-
livtr to said MORTGAGEE s renewal thereof, to9ether with e reteipt for the premium of :uch renewal; and there shall be ~,o f~~e or winds~o~m iniur~nc~
pl~ted on any of said buildings, any interest therein or part thereof, unteu in the form and with tha loss payabie ai afaesaidt and in the event any sum
of money beccrr~es payable under such policy or policies taid MORTGAGEE shall have the optior~ to receive and spply fhe same on account o( the indebted-
neu secured hereby w ro permit said MORTGAGORS to receive ~nd use if w any part thercof fw other purp,^,ses, w~~l,out ~h:rtb~ waivi~ig o~ ~n~pair-
ing any equity, lien or rght ~nder w by vi~tw of this mor!9a9e; and ire ths evenl said MORTGAGORS shall for any reason fail to keep the ~aid {xemisrs w
insured, w fail to deliver promptly any of said policies of in:urance to said MORTGAGEE, w fail promptly to pay fu11y any pre~nium the.efq a in any
respect fsil to petform, diacharge, exec~le, effec?, complete, comply with and abide by this covenanr, or any part he+eo~, sa+d MOR7GAGEE may place and
pay fa such insurancs or any part thereof without wsivinp or affectirg a~y option, lien, eq~ity, or right unda a by virtue of this Mor/gsge, and the
futl amount of each and every svch payment shall be imrt?ediateiy due and payable snd shall bear interesf irom ~he date thereoi un~il paid at ths rata of
nine per centum pe~ annurr, a~d to~ether with tuch interest sha~l be secwed by the lien of this mortgage.
1. To psrmit, tommit a suffer no wsste, impairmc~t or deteriwation of iaid property or any part thereot.
S. To pay all and sinyular the costs, charpes ~nd expenxs, including a reasonable atto~ney's fee and costs of abstracli of titte, incurred or paid at
any time by said NWRTGAGEE, because or in the event of the tailure on the pan of the said MORTGAGOR to du?y, promptly and fully perform, d~xha.ye.
execute, effett, complere, comply with and ab~de by eath and every the stipulations, sgreemenri, conditiau, and covenants oi said p~omi:sory note and this
mortqage any or either, and said cosb, charges and expenses, each and every, shall be immediately dve and payable; whether or not there be notice d~
mand, attemp! to collect p suif pendingj a~d t:~e futt smount of each and every such payment sAall bear iMerest from the date thereof until paid at the
rate of nine pe? centum per an~~um; and all said costs, charges and expenses incvrred or paid, together with such intereat, shall be secured by the lien of th~s ~
mat9age.
b. Thst (a) in the event of ~ny breach of th~s Mor~gage or defautt on ~he pan of the MORTGAGpR, w(b) in the event any of said sums of money !
herein refened to be not promptly and fully paid witnin thirty (30) days next after the same severally become du! and payable, without demand ot notice,
or in the event each and every the stipulations, agrarrt?ents, conditions and covenants of sa:d promissory nae and th~a mortgage any or either are ~ot
~uty, prompNy and fully parformed, dixharged, execvted, effected, completed, compl~ed with a~d ab~ded by, then in e~ther or any such event Ihe ieid ~
gregate sum mentioned in said promisaory note then remaining unpaid, with interest accrued, and all moneys secured hereby, shall become due and pay-
able fwthwith, w thereafter, at the option of said MORTGAGfE, as fuily and compfetely as if all of the sa;d wms of money were wginally supulated
to be paid on such day, anything in sa~d promiuory nate ot in this Mo?tgage to the coNrary notwithstanding; and thereupon or thereafter at the option of
said MORTGAGEE, without notice w demand, wit at law or in equity, therefwe or thereafter begun, may be prosecuted as ii atl mwroys secured hereby
had marvred preor to ;n insf;tutio~.
7. That in the ever.t that at 1he beginning of or at any time pending any suif upon this Mortgagr, a to foreclose it, w to refam it, or to enfwcs ~
payment of sny claims hereu~der, said MORTGAGEE shal~ apply to the Court having jur~sd~ct~on ti~ereof for the appo~~tment of a Receiver, such Court sha(l ~
fwthwith appoint a receiver of uid mwtgaged proQerfy al! and singular, includmg all and si~gular the income, proiits, issues and revenvcs from whatever ~
source derived, each and every of whKh, it beiny expreuly understood, is hereby mortgaged as if spec~fically set forth ared dexribed in the grantiog and
habendum clavses hereof, and such Receiver shall have all the broad and effective funchons and powe~s in anywise entrusted by a Cour1 to a Receivei, and ~
such appointment shall be made by such Court as an admitted equity and a matter of absolute right to said MORiGAGEE, and without reference ro the
adequacy or inadequacy of the valve of the property mortgaged or to the so~vency or insolvency of sa~d MORTGAGOR or the defendants, and that s~rch
rents, profits, income, iuexs and reveoues shall be applied by such Receiver according to the lien or equity of wid MORTCaAGEE and thc practice of such
Court. ~
S. To duly, ~omptly and fully p~rfwm, dIHFMf9Q. executc, effect, complete, comply with and abide by each and every the stipulations, agreements, ;
conditions and covenants in said prom+sswy oote and this mortgage set fwth.
9_ Tiwt in the event the ownership of the mortgaged premixs, or any part ihereof, becomes vested in s person other than the MORTGAGOR, the ~
MORTGAGEE, its successas snd assigns, may, witlwut rwrice to the MQRTGAOR, deal with s~Kh succeua or successor in interest with relerence to this
mwtgage and ttie debl hereby secured in ihe same manner as with Mortgagor w+ihout in any way vit;ating a dixharging !he Mortgagctrs• Ii~bility here- i
under w vpa? the debt hereby secured. No sale of the premises hcreby moAgaged and no forbearance on the part of the MORTGAGEE or its successors ~
or ass~gns and no exteniwn of the time for the paymeM of the debt hereby secured given by the MORiGAGE~ or its successon or ass~gns, shatl operate ~
to release, discharge, modify change or affect the org;~al liability of the MORiGAGOR herein, eithe~ in whole w in parL }
10. It is specifically agreed that time is of the essence of this corttract and that no waiver of arry obligatipn hereunder or of the obfigation sr ;
cured hereby shall at any time thereafta be held to kse a waiver of the terms hereof or of the instrument secured herby. ;
11. In add~tio~ to the fwego:ng monthly payments of princ'pal and interest required by the prpmissary rate secured hereby, mortgagor tovertants
and agrees to pay to mortgagee with each moruhty payment an add~tio~al sum est~mated by mwtgagee to be equa: to 1 f 12 of the annual cost of the follow-
ing: ,
A-ASI real property ta:es levied or assessed against the above described real estate.
6-Premiums on (ire and windstorm insurance as herein requ~red to be carried on the improvements situate on the above desaibrd premises. ~
C-Premiums on such mortgage guaranty insurance Ss mwtgagee shall from time to time deem fit to carry on the loan setured hereby.
Mortgagee shall from t~me to time notifY mort r in writi
gego ng of the amount due and payable hereunder and such sum shall thereupon be due and
payable on the due date of the next monthly payment and each successive month thereafter ur,til mwtgagee shall notify mortgagor o( a thange in such
amount. Such sums sh.ail be applied by matgagee toward the payment of real property taxes, insuronce prem:ums, and mongage guara~ty insura~ce
premiums. .
fN WIiNE55 WHEREOF, the said MORTGAGQR ha~r~o~~is(~i~~~~he a ~f~st~f {a' ~ A
s~~d, Sealed and delivered rF,~ a~ or:ST. LUCIE CAUN7Y. FLA.' L R~,;;~~ . 1
r ` t~' ' _ • S
. r c;~ B Y: ~ ~
a ~ ~
`,n. ~
'TO ~3P~ I ~ PM ~"~T' ~ , . . ~ -
- - - ~n-
~'nCC C~~ n~ ~r+~€~wTf1~~'v~ %ti _
O~ ` ~O ,~ir : rr~
? , ` ~
STATE OF FLORIDA ~ , ' ~ - ~ _ : . • :
~ .
~F ~ M ' d ~..~~~1....` ,r,'
_ CtJI~
1 HEREBY CERTIFY, That on this ~s day of April 3• n\ •
before me rsonaU a Jack Crain .~~b
pe y ppeared and Mary Lee C rain
respectively President and Secretary , of
Rtr_~au~~R g~Lp?I~ C~pnQA~ p~ , a FLORIDA Corporation, to me
known to be the persons described in and who executed ihe~foregoing instrument, and severally acknowl~_the ~exe-
cution thereof to be their free act and deed as such officers for the uses and purposes therein mentia~ied;,
a~e1: ~t~at.. they
affixed thereto the official seal of said corporation, and the said instrument is the ad and deed:, o{•~,'said ~~prpd~ation_ '
.
. . v . _
WITNESS my hand and official seaf at Fort PierceSt.Lucie. Florida , said coun and sT ' 9, " :
h ard•: ~ , ~
This instrument pzepared by - ' - f- r ° ~ = ,
nm. E. Braun ~ie,~.Q.~~i au~.! = • t~ E~ I
: " ~ ~
First Federal Savings and Loan Notary Public, in and for State and t~v T
~ssociation of Fort Pierce ~..~~-a-~~~~ ~
~ or t p ierce j Florida My Commission Expires: /o? - 3-~' / .;t' ;
/a --3 ' 7/ r ~ ~
~
~
Retwcn k
o 8y ~ BOOK~~~ PACE ~
F'rst Federal Savings,and Loan A~sociation ~
o~ Rort Pierce, Fort Pierce, Florida E
~