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HomeMy WebLinkAbout0411 9. To placa •nd contin~ously keep on the buitdings now a hereafter situate on saEd land and on all equipment and penr~ally covered by this matg~ ags, with ~II premiums ~hercon pa~d in full, fire irtsurance in ~he usual standard pot~ry form, in a sum approved by the MORiGAGEE, and w~ndstwm ~~surance in tha usual standard pol~cy (orm, in • ium approved by the MORTGAGEE, in such company o~ companies ai ~he MORTGAGEE may d~~ect; and all fire a~d w~ndstorm insuronce policies on any of said build~ngs, ~ny interesl the~ein or pa~t thereof, in the aggregare sum aforesaid d in extess Ihcreof, ~hall contain the usual standard matgages tiause a such other clause as ~he Mwtgagee may requ~re, mak~ng the loss under sa~d poli~ cie~, each and every, payabte ro said MORTGAGEE ie iti intercsl msy appear, and eacA and every such po~~cy shall be p~omptly ass gned and ddivered to any held by said MORIGAGEE ~s turiher secvrity to iaid nw~tgage debt, an~l, not Itss rhan ten (10) days in advance of ~i~e expirat~on of each pol~cy, to da I~ve~ to said MOR7GAGEE a renewal thereof, toge!her with a receipt fa the premium of such renewa!; and there sfiall be no f~re or w~ndstorm insurance pl~ced on ~uy of said buildings, any interest therein or part thereof, un~ess in the form and with Ihe lou payable as afwesaid; and in ths evertt any :um of money becomes payabte under such poliq or policies said MORIGAGEE shall have the opt~on to receive and apply Ihe same on accoun~ of ~he indebted~ neu secwed hereby a to perm7t said MURTGAGORS 1o receive snd use it w any part thereof ior o:h~~r ~:W~?~SCS, \'IdifOJ1 th:nur wa~~~~g or ~~npair- ing any ep~ity, IiQn ot right unde~ a by virtue of this mor!gage; ~~d in the event said MORTGAGORS shall for any reason fail to keep the said premises so insured, a fail to deliver prpmptly any of said poiitief Of insurance t0 said MORiGAGEE, or fail prompily lo pay fully any pre~nium therefor or in any respecf fail to pe~form, d~scharge, executs, effect, complete, comply wi?h and ab~de by th~s cove~ant, or any part hereof, sa~d MORTGAGEE may place and pay for such insurance o~ any part the~eof wlthout weiviry or affecting aey opt~on, lien, equity, or right under w by virtue of this Matgape, and the full amount of each and every such payment shall be imrtwdiately dve and payable and shall bear inte~est f~om ~he date thereof un~il paid at ~he rate ol ni~e per centum pef annum and to~ather with such interest shall be secured by the lien of th;s mo~tgage. To permit, commit or suFfer no waste, Impairment or deterioration o1 said property or any part thereof. 5. To pay a!1 and singular the casts, charges ~„d ezpenses, including a rcasonable attwney's fee and costs of abstracts of title, incurred or paid st any time by said MORTGAGEE, because w in the event of the failure a? the part oF ~he said MORTGAG~R to duly, promptly and fully perform, d~xharge, execute, effa~, complete, compty with and ab:de by each and every rhe stipulanons, agreements, conditio~s, and covenan~s of said prom~ssory note and tF.i~ mortgaye any ot either, and said costs, charges and expenses, each and every, shall be immediately d~e and payable; whether w not there be notice dt mand, attempt to tollp~t or auit pend~ng; and the full amovnt of each and every such payment shall bea• inferest from Ihe date thereof until paid at the rate of n~ne pe~ centum per an,~um; and all said costs, charges and expenses incurred or paid, ~ogether w~th such interest, shall be secured by the lien of tha mortgaga. 6. That (a) in the event of any breach of this Mortgage or default on the part of the MORTGAGOR, or (b) in the event any of satd tums of mone~ herein referred to be not prompfly and fully paid within Ihirty ~30) days next after Ihe same seve~ally become due and payable, wilhout demsnd er notice, or (c) in the event eath and every the stipulations, sgreements, conditions and cove~ants of sa'~d promissory note and th~s mortgage a~y or tither are ~d ~uly, promptly and fully performed, d~xharged, executed, effected, completed, complied with and abided 5y, tlien in either o~ any s~ch event the said a¢ gregate wm mentioned in said promisso~y note then remaining unpaid, with interest accrued, and atl moneys secured hereby, shall become due and pay- able forthwith, w thereafter, at the option of said MORTGAGEE, as fulty and cample~e~y as if ait of the said. sums of money were oreginally st7pulated to be pa~d on such day, anylhing in sa:d promissory notr or in this Mortgage to the contrary norwithstanding; and thereupon or thereafter at the opuon of sa~d MORTGAGEE, without not~ce or demand, svit at law or in equity, therefore or thereaf~er begun, may be prosecuted as if all moneys secu~ed hereby had matured pnor to its institution. 7. That in the event thaf at the bcginn;ng of or at any time pending any suit upon this Mortgage, or to foreclose it, or to ?eform it, or to enfora ! payment of any claims hereunder, said MORTGAGEE shall apply to the Court having jurisd~ction thereof io~ the appointment of a Receiver, such Court shail ; fo~thwith appoint a receiver of said „o~~yayed ProQerry afl end singu:ar, irrclud,ng a!! and singular the income, prolits, issues and revenues irom whatever source derived, each and every of which, it being e~pressly understood, is hereb/ mortgaged as ~f spec~fica~ty_ set forth and desu~bed in the granting a~ habendum clavses hereof, and such Receiver shall have all the broad and effective iunct~ons and powers in anywise entrusted by a tou.t to a Receiver, and such appoinrme~~ shall be made by suth Court as an admitted equity and a rt+atte~ oi absolute right to said MORTGAGEE, a~d without retere~ce to the adequacy or inadequacy of the value of the property mortgaged or to the sdtvency or ~nsolvency of said MORiGAGOR w the defendants, a~ ?hat such rents, profits, i~come, iuues and reven~.es shatl be applied by such Receiver accord;~~g fo the lien or equity of said MORTGAGEE and the practice of such Court. 8. To duly, promptly and fully perform, discharge, execute, effect, complete, compty wi~h and abide by each and every the stipulations, agreemenb, conditions and covenams ~n sa~d promissory note and th~s morrgage set fwrh_ 9. That in the event the ownersh~p of the matgaged pr~mises, or any part tF~ereof, becomes ves:ed in r person other than the MORTGAGOR, the MQRTGAGEE, its successws and assigns, msy, without notice to the MORTGAOR, deal with such succeua a successw in interest with reference to this mortgage and the debt hereby secur~ in the same manner as with Mortgagor without in any way vitiating pr dischargir~g the Morrgagws' liability herr under w upon the debt hereby secured. No sale oE 1F+e premixs hereby mortgaged and no forbearance on the part oi the MORTGAGEE w its sutcessors or assgns and no extension of the time for the payment of tfne debt hereby secured given by the MORTGAGE~ or its successors or assi~ns, shali operate ro release, diuharge, modify change or affect the wigina! liability of fhe MORTGAGOR herein, either in whole or in part. 10. 1t is specifically agreAd that time is of the essence of this coNract and that no wSiver of any obligation hereunder or of the obligatan se- i cured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the instrument secured herby. 11. In add~tio~ to the for o: monthl ments of rinc" al and iMerear re uired b the ~ ~ e9 ^9 Y paY p p q y promissory no.e secured hereby, mortgagor covenants s and agrees fo pay to mo: rgagee v~,•ith each monthly payment an addiranal sum est~n,ated by mortgagee to be equal to 1% 12 of the annua! cost of the follow- A-Alt reaf property taxes levied or assessed against the above described real estate. B-Premiu~ns on fire and windstorm insurance as herein requ~red to be carried on the improvements situate on the above desc~ibed premises. C-Premi~ms on such mortgage guaranly inswance as mortgagee shall from t:me to t~me derm fit to carry on the loan secured hereby. Nbrtgagee shaii from time to time notify mortgagor in writing of the amount due and payable hereundrr and such sum shall thereupon be due and payable on the due date of the next manthiy payment and each successive month tFiereaft~r ur.tit morfgagee shafl ootiiy mortgagor of a change in such amount. Such sums sHa;l be applied by mwtgagee toward the payment of real property taxes, insurance prem:ums, and mortgage guaranty insurance premiums. IN NE55 NHEREOf, the s id MQRTGAGOR has hereunto set his hand and seal the day and year fi af e' S' d, ealed r~dr~ ' i 1~ prrs~nce of: ~ ~ n - - cs~.~ cs~a~ tsNn 51ATE OF FLQRIDA ~ S t. I.17C 1 Q SS' COUNTY OF Befwe me personafly appeared R ichard O. Hedrick and Peggy W. Hedrick his wife, to me well know~ and known to me fo be the individuals desuibed in and who exec~ted the fwegoing instrument, and acknowledged befwe me that they executed the same for the purposes rhe.e;~ ~xp~e„ed. n„d ~he :aid Peggy W. Hedriek wife of the ~;a Richard O. Hedrick ~'s; e~4qd ~,r. examination by me taken sepa~afe and apart from her said hersbsnd, acknowledged to and before rrK thaf sFx exetuted s t~tt~}tt'~~~fee~;~if~ volum tarily and without any compulsion, tonstroint, apprehen~ion, ~ fear of or from her said husband. E~ ~ ~ WITNESS my hand and official seal this /~r ~ dsy of A rll "J"~;' ~ ":7O 7 - _ _ : ^ ~ ~ _ Notary Public in and for the =S~ fl~~si~; ~1~~f • - = f o~ My Comm,ssion e~c ites; ~ ' Retum Too P ~i~ =-Q Fint Federal Savings 3 ~oan Association ~i' ~'~'~i-' = i~~~~ iy G . oF Fo.r v~e.~e. FILED AND RECORDED' F f:+ Fort Cierce, F~o~~da ST. LUCIE CO~INTY. FIA.. ~~C~Jf?D Vtf?1~?F0 - . 192450 . . . . . This Instrument Prepared By Richard K. Ka~~ Q~R Z ~ PM Z: Zs First Federal Savings 8~ Loan Association of Fort Pierce~ Florida 4;C~~C? ~-OITRt~S Checked By CLERK CIRCUIT COURT~ B~.~QROK~~~ PAGE_~ ~f , _ _ _ _ _ - .