HomeMy WebLinkAbout0413 3. To pisc~ and continvously keep oe~ tlu buildln~s now or hereafter ~ituate on ia~d lend and on alt equipment ~nd perion~ily covered by this morty-
ege, with •II premiums thereon psid in fuN, fi~e fnfurance in the usual slandurd potity form, in a sum approved by the MORLGAGEE, and windstorm
insurence in the usual standard pol~cy (orm, in a sum approved by ~he N10RTGAGEE, in tuch company or compan~es as tAe MORTGAGEE may
directt and all lire and winds~orm insurancs policie~ on any of said build~ngs, any inte~e:t thmein or pa~1 ~he~eai, in the aggrega~e :um afaesaid or
in exceu theaeof, shaU contain ~he usual s~andard matgagee clause w such oiher cl~use as the Mortgagee may reqwre, making the Iass unde~ sa~d poli-
ues, each and eve~y, payab?a b ssid MORTGAGEE as its interest may appear, snd each and eve~y such pot~cy shatl be promptty ass gned and delivered ~o
eny held by said MORiGAGEE as (urther security to said mortgage debt, ~nd, not less ~han ten (10) days in advance of ~he expirat~on of each policy, to da
liver to said MORTGAGEE a ~enewal Ihcreof, together wi~h a receipt for the premium of such renewal; and ~here shal{ be ra f~re or w;ndstorm ins~~ance
pleced on any of said bvildings, any interest therei~ or parl thereof, untess in ~he form and with the loss payable as aforesaid; and in ~he event any sum
of money becomes payable u~der such policy w policies said MORTGAGEE shall have ~he opt~on to receive and apply the same on account of the indebted-
ness secwed heteby a 10 permil said MORTGAGORS to teteive and use i1 or any part therepf (or o:iier purposes, ~v~iho~t th:rcb~ waiving or ~mpain
in9 any equ~ty, lien or right under a by virtue of this mw!gage; and in the event sa~d MORTGAGORS shall fa any ?eason fail to keep the said p?emises so
~r~sured, pr fail to deliver promptty s~y of said policies of insurance to sa~d MORTGAGEE, a fatl promptly to pay fully any premium therefor or in any
respect iail to pe~form, discharge, execute, effett, complete, campty wirh and abide by this covenant, o? any parf hzreof, said MORTGAGEE may place ano
pay fw suth insurance or any part theroof without waiving w affecting any option, lian, equity, or right undN or by virtue of this Mwlgage, and tl~e
full ainount of each and every such payment shall bt immedistely due and payabfe and shafl bear interest lrom tha date thereof unti! paid at the rate ol
n~ne per cent~m per annum and together with such inferest shall be secured by the lien of this mortgage.
I. To permit, commit or auffer no waste, impairment w deterioratio~ of uid property or any part the~eof. -
5. To pay sll and singular the costs, charges ~nd expenxs, including a reasonable attwney i fee and costs of abstracts of title, incur.ed or paid a*
any time by said MORTGAGEE, because or in the event of the failure on the part of the said MORTGAe30R ro duly, promprly and fully pe.fam, d~scharge,
execute, effect, tomplete, comply w»h and ab;de by each aod every the stipulatlo~s, agreements, conditions, and covenants of said prom;sso?y note and this
mortgage any or e~ther, and sa~d coets, charges and expenses, esch and every, ihall be immed~ately due and payab:e; whe~her or not ~here be no~rce de
mand, attempt to tolletf ot suit pending; end the full amovnf of each and eve~y suth payment shall bea. interest from the date ihereof urttil paid at the
rate of ni~e per centum per annum; and all said costs, ctwr9es ar~d expenses inturred or paid, togeiher w~th suth interast, shall be secured by the lien of thii
motfyage.
6. That (a) in the eve~t of eny breach of this 14Mxtgsge or defautt on the part of the MOR7GAGOR, or (b) in the event any oi sa~d sums of money
herein referred to be not prompiiy and fully paid within thirty (301 days next after the same severally become due and payab!e, without demand or notice,
or (c) in the event each and every the stipulatiorts, agreements, condif~ons and covenants of sa:d prom~sso~y note and th~s mortgage any a e+ther are no1
~uty, promptly and fu!!y rxrfwmed, distha,ged, exetuted, effected, completed, complied with and abided tiy, then in either w any such event the sald sg-
gregate sum mentioned in said promissory note then remaining unpaid, with interesf accrued, and ati moneys setured hereby, shall become dve and pay-
a61e forthwith, o~ thereatter, at the option of sa~d MQRTGAGfE, as fully and c~mpletely as if sll of the said sums of mooey we~e w~ginally itFpulated
to be paid o~ suth day, anything in sa~d prom~ssory note w in this Mwtgage fo the tontrary notwithstanding; and thereupw~ or tnereafter at tMe option of
sa~d MORTGAGEE, without notice or demand, suit at law or in equity, therefore w thereaf~er begun, may be prosecuted as if a!i moneys secu?ed hereby
i
had matvred pnw !o its inslitWioo.
7. That in the event thaf at the beginning of w at any time pending any suit ~pon this Mortgage, or to foretlose it, w to ~eform it, or to enforce
payment of any claims he~evnder, said MORTGAGEE shall apply to tF~e Court having jur~sd~ction thereof for the appo~ntmem of a Rece~ver, svch Court shall
forthwith appoint a receiver oi said mortgaged proQerty all and singular, i~clud~ng all and si~gular the income, profits, issues and reven~es from whatever
source derived, each and every of which, it bei~g expressty understood, is hereby mortgaged as if specifically set fwth and deuribed in the granting and
habendum clauses hereof, and suth Receiver shaH hsvt elt the Maad and effective func?~ons and powers in anywise enlrusted by a Courl to a Receiver, and
such appointment shall 6e made by such Court as an admined equity and s matter of absoluie right to said MORTGAGEE, and without refererxe to the
adequacy w inadequacy of the value of the property mortgaged or to the so~vency or ins~ivency oi said MORIGAGOR w the defendants, and that such
ren~s, profits, income, issues and revenues shall be applied by such Receiver according to the lien or equity of said MORTGAGEE and the prattice of such
Courf.
8. To duly, p~omptly and fully perfwm, discharge, execute, effect, complete, comply wilh snd abide by each and every thc atiputations, agreements,
condirions and covenann in sa~d promissory note and this mortgage set forth. -
9. That in the event tl~e ownership of the mortgaged premises, or any part thereof, becomes vested in a pe~son other than the MORTGAGOR, the
h10RTGAGEE, its successors and assigns, may, without notice to the MORTGAOR, deal with such iuccessw or successor in interest with reference to this
mor~gage and the debt hereby secured in the same marnier as w;th Mo.?gagw wiihouf in any way vit~ating or dixharg~ng the Mortgagors' liabiliry herr
under or upon the debt hereby secureti_ No sale of the premises hereby mortgaged and no forbearance on the part of the /~AORTGAGEE or its sutcessors
or assigns and no extension of tF~e time fw the payment of the debt hereby secured given by the MORTGAGE'_ or its successors or auigns, ,haU operate
to release, d~scharge, modify change or affect the original liability of the MORTGAGOR herein, eisher in whole or in part.
10. It is specifically agreed that time is of the essence of this contract and thaf no waiver of any obligation hereunder or of the oblgation se-
cured hereby shall at any time.thereafter be held to be a waiver of the terms hereof w of tke instrument secure.i herby.
11. In addition to the fwego"ng monthty payments o( princ'pal and interest required by the prom~ssory no!e secu~ed hereby, mortgagor covenanis
and agrees to pay to mo:tgagee with each mo~thiy payment an add~rionat sum estimated by martgagee to be eq~al to 1 j 12 of the annual cost of the follow-
ing:
A-All real property taxes leiied or assessed against the above described real estate.
B-Premfums on fire and windsto:m irtsurar.ce as herein ?equ:aed to be tarried on the improvemeats situale on the above destribed premises.
C-Premiurr~s on such mortgage guaranty insurar,ce as mortgagee shall f.om t;me to ti~ne deem fit to carry on the loan secured h¢reby.
Mwtgagee shail from tirne to time notify mwtgagor in writing of the amount due and payable hereunder and such sum shall thereupon be due and
payable on the due date of the next montn!y payment and each svccessive month thereafter ur.tll mortqagee shall not;fy mortgagor of a change in such
amount. Such sums sF.a;l be applied by mortgagee toward the payment of real property taxes, insurance prem;ums, and mortgage g~aranty insurance
oremiums.
tN WITNESS WHEREOF, the said MORTCaAC,OR has hereunto set his hand and seal the day and year first aftxewid. ~
Sign~d, Sealed and d livered in the prese~ce of: ~ ,
_ ~ a~
~ aq
j ~ ~
~"~c'~:'~.
SiATE OF FLORIDA . ~'~i~, ,i "J
couNrr oF ST . WCIE ~ ` ;t•~``, ~ .
' c, : P ` _ ; '
8efore me personally appeared Eddl@ Sheff ie ld ~~~1~ ~
Jonnie Mae Sheffield " ' ' ~
his wife, to me well krwvrA q~d'kriovvn
the individuals dexribed in and who executed the faegoing instrument. snd acknowledged before me that they executed thbs01rp'fdir,t po"rp~;
rherein ~xP.~,ea. n~d r~ :a~ _ Jonnie Mae sheff ield ~ '-,ti;
w~se or ~~a Eddie Sheffield ~ a~.~a~ u~a'~cr,~•
e~ a m i n a Y
w n by me ta ken separa te a r~ d apar t from h er sa i d hvs b a n d, ackrawledged to and be(ore me that she executed said inttrurt~ent freely and volu~-
rarily and withovt any compulsiw~, cor:straint, apprehension, w fear of or from her said husband.
WITNESS my hared and offieial seal this day of A 21 A. D. 19~-
' Notary P' in aod fw fhe State of Fbrida at larpe
My Commission expires:
Retum To:
First Federal Savings 3 loan Association
Oi Fort Prerce.
Fort Pie:ce, Florida tiDTARY PC.".11C, STA7E Of ROR:OA AT UIRG(
PrY COPdi~A1S~lON EXPIRES i~OY. 29, 1972
~o~o~o r:,Fn v, n.cG7FLMORO ND RECORDEO ,
FILEDC
E rOUt~TY. FL".
This Instrument Prepared By J. D. Chastain ~ ST• t-V„ c:- n
. ~92 r
First Federal Savings 8 Loan Association ~ L~J
• of Fort Pierce ~ Florida ~ 26
Checked 8y~ p AP~t Z? PM ?
G~
'S
~fK~S~ F'AGE.~ ~t ERK C1RCl;t COURT
~