The URL can be used to link to this page

Home My WebLink About0690 3. To place and continuously keep on the bui!d~ngs now a he~eaiter tituats on sa~d land and on alf equ~pmem end perso~ally covercd by this mortg- ags, with di prem~ums thrreon pald in futl, ii~e insurance in the usual standard policy form, ~n a sum approved by the MORiGAGEE, and winds~am insurance in the usual »and~rd pot~cy form, in • sum approved by ~he MORTGAGEE. 7n iuch compa~y or compan~e~ as the MORiGAGEE may dirat; and all tire and w~ndirorm insurance pol~c~es on any of said bvild~rrgs, any inreresf rherein or par~ thereof, in the aggrega~e sum aforesa~d w in excess Ihercof, shall contain the usual standard mortgagee clause or such otFur dause as the Mortgagee may requ~re, ma?~ng the tess undrr sa~d puli- cies, each and every, payable to said h10RTGAGEE as ~h imerrit may appear, and each and every such poGcy shatl be pron,ptty ass gned and detive.ed ~o any held by said MORiGAGEE as furrhe~ security to said mor~gage debt, and, not less than ten (10) days in adva~xe of the expiratiwi of each pol~ty, to da I~ver to ~a~d MORTGAGEE a renewal thereof, togeiher with a rece~p~ for the premium of such renewal; and thrre shall be no i~re or windsto~~n insurance placed on sny of said buildings, any interesf therein or part thereoi, unless ir the form and with ~he loss payab!e as atcresaid; and in the event a~y sum of monry becomes payable unde~ s~ch policy w poGcies said MORTGAGEE ahall have the opt~on ro iece~ve and appty the same on account oi the indrbted- ness setured hereby ot to petm~t said MORTGAGORS to rtteive and use it w any part thereof for o:n.•r ~:Uf( GSYS~ \Y~IfIO~i~ th_.~ o; ~vai.~ i3 ar unp.~~r. ing any equ+ty, l;en w~%ght under a by virtue of this mo:tgage; a~d in the event sa:d M02TGAGORS shatt !w any reason fail to k~ep the sa~d prem~szs so ; insured, Or fail lo deliver promptly any of said pol~c~es of insurante to sa~d MORTGAGEE, or fait p:omatly to pay fu~ly any pre~»i~m therefor o~ i~ a~y respect iail to per(wm, d~scharge, execute, ef(ect, comptetr, comply wi~h and ab~de by this covenanf, w any pa~~ hereof, sa~d MGRT;,AGEE may place a~d pay for auch insurance or any part thereof w~~hout waiving or affecting any option, tien, equ~ty, or righf under or b~ virtue of ihis Mortgage, and the full amoum of each and every such paymem shall be immed~ately due and payable and sha~l bear interesr from rhe date thereof unti! pa~d at ~he ~ate o1 nine per centum per annum and to~ethrr w~th such inte~est sF.all be stcured by the lien oi th~s mortgage. 4. To permit, tommit or suffer no waste, impairment p deterioration of sa~d property or any part thereof. : ~ 5. To pay all and singulsr the costs, charges a~d eapenses, including a rea3onable attorney's fee and ccsrs of absTracts of titte, incurred o~ paid at any time by said MORTGAGEE, because w in the event of the faiiure on the part of tAe said MORIGAGOR to duly, promptly and fully perfofm, d~uharge. exrcute, effecl, complete, comply w~?h and ab:de by eath and every the stipulat~ons, agreements, cond~tions, and cover,ants o~ sa~d prom:ssory note and th~s mo~tgage any or eiihe~, and sa~d costs, charges and expenses, each and every, shall be immediately due and payab:e; wheiher w not there be notice dt mand, attempr to coltect or suit per.d~ng; and the ful! amoun! of each and every such payment shall bea. inrerest trom the date the~epf until paid st the rate of nine per cenrum pt:r an~ium; and all said costs, charges a~ expenses inturred a paid, together ~v~th suth ~nterest, shall be szcured by the lien of th~s mortgage. 6_ That (a) in the event of any breach of this Morrgage or default an the parl of the MORiGAGOR, or ;b) in the event any of sa:d s~ms of money herein referred to be not promptly and fully paid within Ih~rty (30) days next affcr ~he same severatly betome due and payable, wi~houi dema~d or notice, or (c) in the event rach and every ~he stiputations, agreements, conditions and covenants of sa;d promissory note and lh~s mo~tgage any or eitber are ~01 ~uly, piomptly and fully performed, d~scharged, exetuted, effected, completed, compGed with and abided Sy, Ihen in enher or any such evem the sa]d ag gregate sum mentioned in iaid promissory note then remaining unpa~d, with inferest accrued, and all moneys secured hereby, shatl (~ome due and pay- abte {orthwith, or rherea(rer, at the opr~on of said MOR~GAGFF, as fully and comptetely as ii all of the sa:d sums of money we~e w~ginally stipulated ro be pa~d on suth day, anything in sa:d promissory note w in this Matgage to Ihe cont~ary notwilhSTanding; and therevpon or thereafter a~ the oQt~on of said MORiGAGEE, without notice or demand, suit at taw or in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured bereby nad matured pr~or to its institution 7. That in the event tha? at 1F~e 6eginning of or at any time pending any su~t upon this l~lorrgage, or to foreclox it, or to reform it, or to enforce payment of any claims hereunder, said MORT6AGEE shali apply to the Court having jurisd~ct;on thereof for the appo~ntment of a Receiver, such Court shafl forthwifh appo;M a rece~ver of said mortgaged prooerty all and sirgula?, includ~ng atl and s;ngular ~he ir.come, prolrts, iswe: and reven~es lrom whatever wurce derived, each and every of which, it being expressly undersfood, is hereby mortgaged as if spec~lical?_r set forth and deuribed in the granting and habendum cla~ses hereof, and such Receiver shall have a!1 fhe broad and effective furtcf.ons and powers in anyw~se emrusted by a Cour1 to a Receiv~r, and such appointment sha11 be made by such Court as an admitted equity and a ma~ter of absotute right to uid MORiGAGEE, and without re(erence to the adequacy or inadequacy of the vslue of the property mwtgaged or to tF~e sotvency o~ insolvency of said MORiGAGOR or the defendanrs, and rhat such renes, pro(its, income, iuves and revenues shall be applied by such Receiver according to tho lien or equity of said MORTGAGEE and the practice of such Court. 8. To duly, promptly and fully perform, d~scharge, execute, effect, complete, comply w~rh and abide by each and every the stiputations, agreements, cond;rions and covenams in said promisswy note aod this mortgage set fwth. 9_ That in the event tF~e ownership of the mortgaged premises, or any part ihereef, becomes vested in a per~n pther than the MORTGAGpR, the MORTGAGEE, its suctessors and assigns, may, without notice to the MORTGAOR, deal w~~h such successor or 3uccessor in interest with reference to this morrgage a~d the debf hereby secured in the same manner as with Mortgago~ without in any way vit;ating or d~scharging the Mortgagors' liability herr under pr upon the debt hereby secu.ed. ko sale of Ihe premises hereby mortgaged and no forbearance on the part of the !hORTGAGEE or its successors or assigns and no extens~on of the time iw the payment of the debt hercby secured gFven by the ~hOR7GAGE' or its suctessws or ass;gns, s;wll operate to release, d~scharge, modify change or affect the original liability of the MORTGAGOR herein, either in whole or in part. 10. It is specifically agreed that time is of the essence of this contract and that no waiver of any obE;gation hereunder or of the oblgation str cured hereby shati at any time thereafter be hetd to be a waiver of the terms Mereoi or of the instrument secured herby. 11. tn addnio~ to the Torego:ng monrhly paym=nts of princ pal and inte~est requhed by the prom.sscry nore secured hereb~. mortgagor covenants and agrees to pay to mo:tgagee w~th each monthly payrnent an add~rional sum est~mared by mortgagee to be eqval to 1; 12 of the annual cosl of the foNow- in9: • A-Alt real properly taxes levied or assessed agai~st th~ above described reat esrate. 8-Pr~miu-ns on fire and wendsJOrm insusance as herein tequ~red to be carried o~ the improveme~ts situste o~ the above described premises. C-Pre~ni~ms on such mort~age guaranty ir.surance as mortgagee shall irom t:me to time deem fet to carry on the ~oan secured hereby_ Mortgagee sha l from time to time notify mortgagor in writing of the amount due and payable hereundrr and scsch surn shall thereupcn be due and Fayable on the due oate of the next month:y payment and each suctessive month ihereaft;r ur.til mwtgagee shall notify mortgagor of a change in suth amount. Such su~ns sha:l be appiied by mo?tgagee toward the payment of real property taxes, insurance prem:ums, a~xl mortgage guaranty insurance premiums. WlTNE~S YVHEREOf, the said MOR7GAGOR has hereu~f~~s~tQi~a~ ~~QR1~ and year f" s id r•t~C~C~;:,~ " ~gned Sea an delivered in the es e of: ' r' ~T. L;lC;C .~U~~R THER ~ :)'s . • • 4 - - ~E 3 Y.f ~ y • • ~ ~ ~ J~ ~ 2 7 9 ~ . ; • „i . _ _ - _ - Q• _ T-~s~~ '~'c~G~ _ c,`•: . ~ - ~ ;:~~~rC?~, r'•0~7 - •l.;~j;.;.....~`,~~ STATE OF FLORIDA ~~;~~~j~~t~T~~~URT ~fl ~ j I HEREBY CERTIFY, That on this day of__ April , A.D. ~q 70 ~ r before me personally appeared Jaseph Peoni and Blanche Peoni respectively President and Se;,retary , of Merryweather Investment Co. ~ InC. a ~ a Floiida Corporation, to me ~ , ~ known to be the persons described in and who executed tfie foregoing instrument, and severally acknowiec~grid tt~e exe. ` P : cution thereof to be their free act and deed as such officers for the uses and pursoses therein mentidtrett; ~~Md_ t~;they ~ f affixed thereto the official seal of said co?poration, and ihe said instrument is the act and dee~ct, af~~~id.,corptZ'r~tion. WITNESS my hand and official seal at Fort Pierce , ~ ~ ` This instzument prepared by 1 , said county a state~ : t , • , c ' - : u~ _ John W. Collins ~ First Federal Savings and Loan Notary Public, in d for State and Cc~,nt~:aforesa?d t;~ ' Association of Fort Pierce, Florida My Commission Expires: 4•!~r'~?•~", ~ ' ~ . , ~ ~ Zt~i' 0~ ~ia!e.~3 ~i ~~rge My Cc:a,,:i,:i,x~ Expoes twp. 6, i971 ' L.f.d ~r ~..i... ii. a c.~.uL;, 4~. Checked By , ` °1': ~ ~i ,i BOQK ~v4 PACf ~c~ ' ~ Federal Sav;~? ~ Loan Assn. ~ r-'~` ' .•i~ ~ - - - ~ . - _ _