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HomeMy WebLinkAbout0179 3. To plac~ ~nd continuausly ks~p on tM bui!dinps now a Mr~sft~r sit~+~~ on sa~d tand and on ali equipm~nt u+d pe?son+lly covered by ~his mon9- sg~, with ~II premiumf Ihereon paid in full, fire i~sur~nc~ in 1hs utusl s~andard poticy fwm, in s sum app~oved by the MORiGAGEE, and windstam insur~nt~ in the viusl sundard po~ity fam, in a ~um ~pproved by the MORTGAGEE, in such canpa~y or companie~ af the MORTGAGEE m~y diredt and ~II iire +nd wir+d~~orm iniurance po~icies on +ny of iaid build~nps, any interes~ therein or pa?t thereof, in ~he ag~regate ium aforesaid a In ~xcau thereof, ~hall contain the uiual s~anda~d mor~gsgee clause a such o~her ctauss as lhe Mort9ayee may requ~ra, makiny ~he Icss under taid poli~ cies, each and every, payabte to said MORiGAGEE as its in?erett may appear, and each a~d every suth pol~cy shall be promptly ass.gned and delivcrcd to ~ny held by said MORTGAGEE +s furthe~ seturity to ~id matpafle debt, and, not leu tMn ten (10) days in adva~ce of the expiratian of each policy, to dt ' IivN to ssid MORiGAGEE + renewal thereof, toyelher with a receipt fo~ the premium ot tuth renewal; and the~e shall be no fire or windstorm insurante j plated cr+ any of ~aid bui~dings, any i~tereat therein or parl thereof, unleia in the form and with the loss payable as afwesaid; and in the event any sum of money beta++es p+y+ble under such poliq w policies said MORTGAGEE ~hall have ~he opt~on to receive and apply the ssme on account of the i~debted~ neu ucured hereby w ro permit said MORIGAGORS to receive and use i1 w any parl thereof tor o~her purposes, w~~hout th:reb~ waivi~~g or ~mpair- ing any eqvity, liee~ or right under w by virtw of thii mo:tgsge; a~d in the event sa~d MORTGAGORS shall fw any reason fail to keep the sa~d premises w inaured, o~ fail ro deliver promptly any of said pol7cies of insurance to ssid MORTGAGEE, or fail promptly to psy fully sny pre~nium therefw or in any respect fail to perforrty dixherge, exeture, effed, complete, comply with snd abide by this covenant, a any part hereof, said MORTGAGEE may place and pay for tuth imurantt o? any part thereof without w~iving or affetting any option. ~ien, equity, w right under or 6y virtue of this Mortgage, and the full amount of eath and every such paymsnt shall be immediately due and payable and shall bear interest from the date thereof until paid at the rats ol nine pe~ centum pet annum and to;~ethe~ with such interest shali kx secured by the lien oi this mwtgage. To permit, canmit or sufta no waste, impairment w deterioration of said propcrry w any p+rt the?eof. 5. To pay all and singular the costs, charges snd expenses, including s reasonable attorney'~ fee and cos~s of abstraNS of title, incurred w paid at any time by said MORTGAGEE, because or in the svenf of +he fai~ure on the part o( the said MORTGAGOR to duly, promptly and fully perform, d~scharge, execute, effect, complete, comply with and ab:de by each snd every the stipulat~ons, agreements, conditioru, snd covenants oi said promissory note and ~hq ! morrgage any o~ e~~her, and said costs, charges and expenses. esch and every, sMll be immediately due snd payable; whether a not there be notice de~ mand, attempt to colled w svit pend~ng; and the full smount of each and every such paymeot shall bear interest from the date thereof until paid at the rate of nirx per centum per arn~um; and all said costs, charges and expenses incurred a paid, togethe~ w~th such interest, shall be secured by the tie~? of thu morfgage. 6. That (s) in the event of any breach of this Mortgage w default on the E+art oi the MORTGAGOR, or (b) in 1he event any of said sums of money herein referred to be not pranptly and fully paid wiihi~ shlrty (30) days next after the same seve~ally become due and payable, without demand o~ notice, or (c) in the event each and every the stipulations, sgreements, condi~ions and covcnants of sa~d promissory note and th~s mortgage any w either are nof ~uly, promptly and fully performed, d~xharged, executed, effected, completed, compl~ed with and abided Sy, then in either or any such evenf the said ag gregate wm memioned in said promisswy note then remaining unpa~d, with interest xcrved, and all moneys setured hereby, shall become due ~nd pay- able fwthwith, or therea`•ter, at the option of said MORTGAGEE, as fully and completely as if all of the said suma of money were wginally st7pulated to be pa~d on such day, anything in sa~d promissory note or in this Mortgage to the contrary notwi~hstanding; end thereupon or thereafter at the option of said MORTGAGEE, without notice or demand, auit at taw w in eqvity, therefwe w thereafier begun, may be prosecuted as if all moneys secured hereby had matured prwr to iri iroritution. 7. 7hat in the event that st the beginning of w at any time pending any suit upon this Mortgage, or to fweclose it, w to refwm it, or to enfores payment of sny claims hereunder, said MORTGAGEE shall spply to the Coun having jurisdiaio~ ~hereof for the appo~ntrtxnt of ~ Receiver, svch CouA shall forthwith appoint a receiver of said mortgaged property all and singular, includ~ng a11 and singular the income, profits, issues and revenues from whatever source derived, esch and every of which, it being expressly understood, is hereby matgaged as if speufically set forth and deuribed in the granting and habendum tlauses hereof, and such Reteiver shall hare +11 the broad and effective f~nctions and poviers in anywise entrusted by a Courf to a Receivtr, and such appointment shalt be made by such ~ov~t as an admined equity aod a matter of absotute right to said MORTGAGEE, and wi~hout refererke to the adequscy or insdequacy of the vslue of the property mwtgaged or to the sotverxy or insolvency of said MORTGAGOR a the defendants, and that such rents, profits, income, iu~es and revenues shall be applied by such Receiver accord~ng to the lien or equity of uid MORTGAGEE and the practice of such Court. 8. To duly, p~omprly and fully perfwm, discharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreementt, ccnditans and covenams in ued promissory note snd this mwtgage set iorth. 9. That in the eveM the ownership of the mortgaged prcmises, a any part thereof, becomes vested in a person other than the MORTGAGOR, the MORTGAGEE, its succeuas and suigns, may, withwrt notice to the MORTGAOR, deal with such successor w succe3sor in i~terest with reference to this mo.tgage and the debt hereby secured in ihe ssme manner as with Ahortgagw without in a~y way vitiating or distharging the Mortgagors liability herr under or upon the deb~ hereby secured. No ssle of the premixs hereby mortgaged and no forbearance on the part of the MORiGAGEE w its successors or auigns and no extension of the time fw the peyment of the debt hereby secured given by the MORTGAGE'_ or its successus or auigns, sfiall operate to release, d~scharge, modify change or affect the orginal liabiiity of the MORTGAGOR herein, either in whole or in part. 10_ It is spedfically agreed that time is of the essence of this contract and that no waiver of any obl~gation hereu~der w of the obligation sr cured hereby shal~ at any time thereafte~ be held to be a waiver of the terms hereof a of the instrumem secured herby. 11. In aod~tion to the forego:ng monthly payments of princ'pal and interest required by the promissory no!e secured hereby, mortgagor covenanfs and agrees to pay to mortgagee with each monthly payment an addirional sum estimated by mortgagee to be eq~al to 1/12 of the annuat cost of the follow- i rx~: ~ A-Alt real property taxes levied w assessed against the above described real estate. B-Premiums on fire and windslorm insurence as herein requ~red to be carried on the improveme~ts situate on the above described premises. C-Premiums on svch matgage guaranty insurance as mortgagee shall from t~me to time deem fit to carry o~ the ban secured hereby. Mortgagee shall from time to time notify mortgagor in writing of the amount due and p~yable F~ereundrr and such sum shall thereupon be due and ~ payabte on the dve date of the nezt monthty paymeM and each successive monsh thereafter ur,til mortgagee shall notify mortgagor of a change in such ; amount. $uch sums shall be applied by mortgagee toward the payment of real property taaes, insurance prem,ums, and mortgage guaranty insuranta j premiums- ~ IN WITNESS WHEREOF, the said MORTGAGOR hss hereunto set his hand nd seal the day nd year first aforesaid. Sgned, Sealed and delivered ~n the Prese~yLo~p j{~,jp RECOR~E~ CANEB LDITiG CORPORATION ~ , t_~G;~ ^^U"~TV, F!-'~ • BY: q ; ` - . . ~ a0 ~ 19224 ~ ATTEST: , ,~~n,~.v-~~n ~10 A~ ~l rtr, ~ , 18 , _ _ f . Y~ ~ STATE OF FLORIDA ~ ~ ~ f ~~.f . , ~ s.p ~rdU1W7Y~f~ .iLUCIE • - ~ ~ ~r~~~lflT Cf?Uf~ ..:f.~~:_.`.,.1..: Y ~ I HEREBY CERTIFY, That on this~day of Ap=11 ~~-',a~?'D. •i 9~_, ~ ' ~ i Jack Crain Marv l:QiZ. n:, ' ~ ~efore me personally appeared - and _ ~ respectively President and Seuetary , of ~ • 4 1 r ~ ' Bi~CANEfiR BUILDING CORPORATION FIARIDA . ~ ~ - , a _ ' Corporafipn, to me ~ known to be the persons described in and who executed the foregoing instrument, and severally ackr~owledged the exe k cution thereof to be their free ad and deed as such officers for the uses and purposes therein mentioned;.and tfiat they ~ affixed thereto the official seaf of said corporation, and th~ said instrument is the act a~d deed .of:-said c~rporetion. ~ WITNESS my hand and official sea) at Fort PierceSt.I.ue ie,Rlorida ,~~d county and st~te., ~I q--= ~ y This instr~nnent prepared by n~~~~ 0~ 6 ~ ~ ::m. E. Braun Ltf : , - x r irst Federal Savings,and Loan Notary Public, in and for State and Cc1u~lty, afg~ii~... ~ X Association of Fort Pierce , : ~ r ort Pierce, Florida My Commission Expires: /1-3--rJ~ ; ~ : 3 G? j ~ Checked By ~ ~ Return to: First Federal Savings and Loan Association of 800K1V4 PJICE Fort Pierce, Florida _ ~ .