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Home My WebLink About0717 3. To alace and cont~nuously keep on the bui!d~ngs now w heraaf~a~ s~tuata on sa~d tand and o~ a1~ equ~pment and penonally covered by th~s matg- age, with al! pren:~~ens ~hereon pa~d in full, iire insurance ~n the usual s~andard pol~cy (orm, in a su~n approwed by thr MOR(GAGEE, and w~ndstorm insu~ance in ~he usual sranda~d pol~cy form, in a sum approved by the MORTGAGcE, in sucA company or cornpa~ies as ~he MORTGAGEE may direct; and att iire and w;ndsrorm insurance po:icies on any of said build~ngs, any interest therein or part thereof, in the aggrega~e s~m atoresaid a in extess thereof, shall toNain the usval ftandard mortgagee clause ot wth other clause as ~he Mor~gayee may requ.ra, making ~h@ loss under ~3~d Ppllh ues, each and every, payable to said h\ORTGAGEE as its interest may appear, and each and every su<h po~;cy sha:! be prompfly ass gnee+ and delivered to any held by u~d MORfGAGEE as further security to said mortgage debt, and, not leu ~han tz~ (10) days in ad~ance oi the e:pirat~on ol each policy, to dc t~ver to said MORiGAGEE a renewal thereof, together with a rece~pt for the premium o! svch renewal; and ~here shali be no t~re or w~~tidsrorm insurance ptaced o~ any of sald buitd~ngs, any in~erest there+n a parl thereof, untess in ~he for,n and wiih the loss payaL-le as aforesaid; and in the even~ any sum of money becomes payable undr~ such policy a poGcies wid MORTGAGEE shalf have the opt~on ~o rece~•+e and apNly the sa~ne on a:cou~it oi the indebted- ness secured he~eby o~ to pcrmif sa~d MORiGAGORS to receive and use it w any por~ tFk:~of tor o~n~v pwtcs~-s, ,,:~h:,,~ ih:~~ui .vs~•.L,3 c~ u~:p~ir ing any equ~ty, licn w ri9ht under or by virtue of this mo:!gage; and in the event sa~d MORiGAGORS shall for any rea:on fail to kcep ~he said premises so insured, w fail to deliver promptly any of sa~d policies of insuran~e to said MORTGAGEE, or !ai! prompt~y to pay fu~ty any prc~»iu:n therefor or in any resy~ect fait to perform, d~scharge, execute, effect, comptele, comply with and abide by this covenant, o~ any parl hr.eof, sa~d MGRtGAGEE may piace and pay fo~ such insurance w any parl thereof w~thout waiving a affecting any option, lien, equ~ty, or r~ght under w by v~r~ue of ihis Mwtgage, and the full a~nount of each and every such payment shalt De immediately due ar.d payable and shal! bear interesl from th~ date thereof un~il paid at the rate ol n~ne per cenrum per annum and together with such i~terest shall be srcured by the iien of this mortgage. ~1. To pe~mit, tommit or suf(er no waste, impairment or deterioration of said propercy or any part thereof. S. To pay all and singular the costs, charges snd ex~xnses, including a reasonable atror~ey's fee a~d cosrs of absiracts of title, incurred w paid at any time by ia~d MORTGAG:E, because w in the event of the fa~lure on the part of ~he sa;d MORiGAGOR to duty, pro~iptly and fully perform, d~scharge, execute,~effect, compkro, comply wnh a~d ab;de by each and every the st~pulanons, agreemenrs, condit~ons, a~d cove~~ants of sa~d prom~ssory note and this mortgage any w either, and sa:d costs, tharges and expenses, each and every, shatl be immediatety due and payahte; hherher w not rhe.e be nor;te da mand, artempt ~o coll¢tt or suit pending; and tho full amount of each and every such paymem shall bear interesf from the date thereof until paid at the r,~re of ~iine per centum per amium; an~' ali sa~d costs, charges and ezpe~ses inc~rred or paid, tw~ether w~Ih iuch interest, shal( be secured by the lien of th~s mOftpd9C. 6. Thaf (a) in the event of a~y breach of this Mortgage or default on the pasf of the MORTGAGOR, or ;b) in the event any oi sa:d sums of money herein referred to be not promptly and fully pa+d within th~rty (30) daya next aft>r the sa~ne severatty 6ecomedue and payable, without demand o~ notice, or (t) in the event each and every the sfipuiations, agreements, conditior.s and tovenants of sa:d piomissory note and th;s mortgage any or e~ther are ool ~uty, p.omFtly and futly perfcrmed, d~scharged, executed, efFected, completed, complied w~fh and ab~ded Sy, lhen in e~ther w any such evrn? the said ag grrgate sum meniioned in said promisswy note then remaining unpaid, with intere;l accrued, and a~i mon~ys secured hereby, shail become dut and pay- a6le foarhw;th, or thereafter, at the opt~on of said MORTGAGEE, as fully and comptetely as if all of the said s~ms of money were originally st~puiated to be pa~d on such d;,y, anything in sa:d prom~sswy note or in this Mwtgage to the conrrary no~wi~hs~and:ng; and ~hereupon w ihereafter a~ me op~ion of sa~d MORTGAGEE, w~rhout notice or demand, suit at law or in equity, the~efore or lhereafter begun, may be prosecuted as if all moneys secured hereby had mat~red pnor to ~ts institunon. 7. That in the erent that at the beginning of w at any time pe~ding any suit upon this Mo~tgage, or to fwedose it, or to reform it, or to en(orce payment o( any ttaim~ he~eunder, said MORTGAGEE sha11 apply to fhe Court having jurisd~ct;on thereo! for the appo;rvmenf of a Receiver, such Court shail Forthwith appoim a receiver of said mortgaged prooerty ali and singular, indud,ng aN and singu~ar the income, prof~ts, issues ar.d revenues from whatever source derived, each and every of wh~ch, it being expressly unders~oad, is hereby mortgaged as if speui~catly set forth and described in the g.anNng and habendum clauses hereof, and such Receiver shall have all the broad and effeUive f~nct~ons and powers in anyw~se entrusred by a Court to a Receiver, and such appointme~~r shall be made by such Court as an admittHd equity and a matte- of abso~ute r~ght to sa;d MORTGAGEE, and w;thout reference to the adequacy w inadequacy of the vatue oi the property morrgaged ar to the so+vency er insotvency of said MORiGAGOR or the defendants, and that such ren~s, profits, i~cane, issues and revenues shall be applied by such Rece~ver accordmg ~o the lien or equity of sa~d MORTGAGEE and the praUice of such Court. 8. To duly, promplly and fuily p~rform, discharge, execute, eifeu, complere, compiy with and abide by each and every the stipulafions, agreemenss, conditions and co.enams ~n said promissory note and this mortgaye set forth. 9_ That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested i~ a person other than the MORTGAGOR, the h'ORTGAGEE, its successors and assigns, may, without notice to tiie MOR~GaOR, dea! with such successor or successor in interesr wirh reference to thia mortgage and the deot hereby secured in the same man~er as with Mortgagor witho~t in any way vitiating or discharging the Nlongagors' Iiabili?y F~ere~ under or upon the debt hereby secv~ed. Mo sale of the prem;ses hereby mortgaged and no forbearance o~ the part of the /AORTGAGEE or its sutcessors or assigns and no extens~on of rhe time for the payment oi the debr he~cby sec~red given by the MORTGAGE~ or its successws or ass~gns, atiall operate ro release, d+scharge, modify change or affect the original liaolity of the MORiGAGOR herein, either in whole or in part. 10. It is specifically agreed that time is of the essence of this co~tract and that no waiver oi any obl~gat~on hereunder or of the obligation se- cured hereby shall at any time thereafrer be held to be a waiver of the terms he~eof oi oF the instrumenf secured herby. 1 i. In aod:t~o~ ro the fo.ego'ng monfhly paym>nfs ot princ'pal and interest required by the prom~sscry no!e secured hereby, mortgagor tovenants and agrees to pay to mo:tgagee v~irh each monthly payrnent an add~tional sum est~mated by morrgagee to be equal to l; 12 of the ann~al cost of the follow- ing: A-A!1 reai property taxas lev~ed or assesseal agai .st the a6ove desc~i~ed real rs~ate. B-Prem~ums on fire and windstorm insurar.ce as here~n requ;red to be car~ied on the lmprovemeats situate on the above described premises. C-Premi~ms on such mortgage guaranty insurar,ce as mortgagee sha{I from ime to time deem fit to ca~ry on the loan secured hereby. Mortgagee sha!! .'*om t~me to t~me not~fy mortyagor in writ~ng of the amount due and payable hereund..~r and su:h su~i shalt thcreupon be due and ~ayable on tFk due date of rhe »~xt month:y payment and each successive month thereaft~r ur.til mortgagee shatl not~fy mortgagor of a change in such amount. $uch s~~ns sFa:l be appiied by morrgagee toward the paymenf of real property taxes, insurance Frem;ums, and mortgage guaranty insurance p~emiums. !ti Y~ NE~S .VHFR~OF, the s id M TGAGOR has hereunto set his hand and seal the day and year first afaesaid_ Si , 5 led an li i presence of: %ae-=- - . r ~ /lL~_~~_(Sesl) ` ~ (Seal) (Seal) r~an STATE OF FLORIDA ~ COUNTY OF S t. L sc ie 1 eefwe me penw~ally appeared ~torris S• Drawc3y and Josephine L. Drawdy h~s w~(e, to me well known and known tq me to be the individuats desvibed in and who eaecuted the foregang instrvment, and atknowtedged before me lhat they executed the same for the purposes rhere~n expreued. And the sa~d Jas eph i ne L. D rawdy `-,~~...,.~.~,.l~, ~ ~ „,;{e oi,t,~ ~;d bforris S. Drawdy , v~~ prrvate exam~nation by me taken separate a~d apart from her said husband, atknowledged to and be~ore me that she executed teid ;uM1~y~y~~/a~f~, ~ volun. rarily and withovt any compulsion, constraint, apprehension, o~ fear of or frcm her said husband. : tt~ t -+~..`:1.1c-! • ti ~ WITNESS my hand and official seat fhis day of A ril - tx 70 - , , r_ ' - ' ~f' °o ...i ~ - Notary Public in and for th¢ ~ o~}ICyt t~ ~ M~~C,Qryrp~sion expires: j ~y~ • v = Return To: REC UtIJ , ~~:Yl~ 'Q~: ~ ,~'O ~ fint frd~ral Sa~~ngs a loar~ Assoc~ar~on F1LE ~S3 Y FLL.. !~i,• Of fort P;erce. j"'. ~„O C~~~T :~n •''•••~T••5~::~?'.``~~~. ~ Fort Pierce. Florida ^n~~^~(~Q ~ <<:~.i~~`~"` J VQ` . ~ QPR 27 PM 2: y2 a-3-7/ This Instrument Prepared By R iChard ~O Kayes ~tJ/ First Federal Savings 8~ Loan Association of Fort Pierce , Florida . n; =-C~!T~~- ''r~ OUR7 Checked By CL~RK ~It~C~11T C : " 8001( ~84 PAGE , c f _ , _ : - . , ~ . . a~