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HomeMy WebLinkAbout0829 3. To plac~ and ca+tinuously kcep on tht buitdiryi now a hcre~ft~r ~ituate on sa~d land and on all eq~ipment ~nd personally covered by this mortg~ sge, with ail premiums lhtrco~ pa+d in futl, fire insurance in the usual standard policy form, i~ a sum approved by thr MOR~GACiEE, and windstwm ~~surance in the usual standard pol~cy fam, i~ a sum approved by the MQRTGAGEE, in such canpany or compan~es as the MORTGAGEE may direct; +nd all firo and w~nditorm insuronce po~kies on any of said bu~ld~ngs, any interest therein or pai? ihe~eo~, in the agg~e9ate sum afaesaid w in excess thereof, shall contain the u~val standard mortgagae clause w such other clauss as ~he Mor~gag~e may requ~re, making the loss unde~ ia~d poli- c~es, each and evey, payable to sa~d MORTGAGEE as ~ts interest may appea~, and ~each and every such policy shall be promptly ass gned and delivered to •ny held by said MORfGAGEE as fur~her security to said mwtyage debt, and, not leu than ten (10) days in advance of the expiration of each policy, to de- liva to sa3d MORTGAGEE a renewal thereoi, to9ether with a receipt (or the p~emium of such renewal; and there shall be no f~re or windetorm insursnce plated on any of said buildings, any interest therein or parl thereoi, ~nless in the form arx! with the loss payable as aforesaid; and in the event any tum of mor?ey becwnes payable under such policy or policies said MORTGAGEE shall have the opt~on to receive and apply the ume on accovnt of Ihe indabted- nes3 Secured h~reby Or t0 petmit said MORTGAGORS to receivs and utt it O~ a~iy part thereof for other purposes, v.i~ho~t tharEO~ wai~uig or mipair• ing a~y equity, lien w right under or by ~irtue of this mo:tgage; ~nd in the event said MORTGAGORS shall for any reason fail to keep ~he said premises so insured, or fail to deliver p?omptly any of said po~~cies of insurante to said MORTGAGEE, a fail promptly to pay fulty any pre~n~um therefw or in a~y respect tail ro pe+tam, discharge, e:ecute, efFec~, complete, comply with and ab+de by th~s cove~an~, a any part hereof, said MORTGAGEE may pl~ce and pay fw such inturance or any pa?t thereof without waivinp w aifectinp any option, lien, equity, a r~gh~ under a by virtue of this Matgage, and the full artaunt of eath and every such payme~t shall be immediately due and payable and shalt bear interest from the date thereof until paid at the rate ol nix per centum per annum and together with sexh interest shalt be secured by the lian of this mwtgage. To permit, commit ot sutta no waste, impairment or deterioretio~ of said property or any patt thereof. 5. To pay all and singulsr the costs, charges ~nd expenses, including s reaso~able attwney i fee and costs~ of abstracts of title, incurrrd or paid at any time by said MORTGAG:E, because w ir? the event of the failure on 1he part of the said MORTGAGOR to duly, promptly and fully perform, discharge. execute, effect, comptete, comply w~th and abide by each and every ~he stipulations, agreements, conditions, and covenants of said prom~ssory note and this mwtgage any or ei~her, snd sa~d costs, charges and expenses, each and every, shall be immediatety due and payabte; whether w not there be notKe de msnd, attempt to colled w suit pe~ding; and the full amount of each and every such payment shall bear interesl from the date thereof untii paid a1 the rate of n;ne per centurt~ per annurn; and all wid costs, charges and expenses incurred w paid, togethe. w~th such inlerest, shall be secured by the lien of thi~ mortyage. 6. That (s) in the event of any breach of this Mwtgage w default on the part of the MORTGAGOR, or in t}x event any of sa~d sums of money F.erein referred to be not promptly and fuliy paid within thirty (30) days next after the same severa!fy 5ecome due and payable, without demand or no~ice, or ic) in the event each snd every the stipulations, sgreeme~n, condit~ons and covenants of sa;d promissory nofe and th~s mortgage any w either are nol ~uly, prompNy a~d (ully perfwmed, d~uhar9ed. executed, eifected, completed, complied w~~h and abided `~y, then in either w any such eve~f the said ay-' gregafe sum rrKntioned in said promissory note tha? remaining unpaed, with interesl accrued, and all moneys set~red hereby, shall become due and pay- able forthwith, or therea4te~, at tht option of said MORTGAGEE, as fully and completely as ii all of the said sums of money were org~nally itipulated to be pa+d on such day, anytaing in sa:d promissory note w in this Mwtgage to the contrary notwithstanding; and thereupon or thereafter at the option of sa;d MORTGAGEE, without notice or demand, suit at law or in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby ; nad matured ptw? to its institution. t i 7. That in the rvent that at the Seginning of w at any time pending any suit upon th~s Mortgage, or to foreclase it, or to reform it, w to enforce i payrrKn~ of any claims here~nder, said MORTGAGEE shall apply to the Court having juriad~ction lhereof tor the appointmenl of a Receiver, such Court sF.all fwthwith appoint a receiver of said mortgaged proQerty all and singular, includ~ng all and singular the income, prof~ts, issues and revenues from whatever source derived, each and every of which, it being expressly understood, is hereby mortgaged as if speufically set fwth and destribed i~ the granting and habendum clauses hereof, and such Receivt~ shall have all the b~oad and effective funct~ons and powers in anywise entrusted by a Court to a Receiver, and such appointment shall be mjde by wch Court as an admitted eqvity and a mafter ol absotute r~ght to said MORTGAGEE, and wiihou~ reference to the adequaq a inadcquacy of the value of the p?operty mortgaged or to the wwency w insotvency of said MORTGAGOR or the defendants, and that such rents, ~rofits, irxome, issues and ~evmues sha11 be applied by wch Receiver accord~ng to the lien or equity ot u~d MORTGAGEE and the prac~ice ot such Court. 8. To duty, promprly and fully pe?fwm, diuharge, execute, effect, complete, comply with and abide by each and every the stipulations, sgreements, conditwns a~d covenants ~n u~d promissory note and this mortgage set forth. 9. That in the event the ownership of thc mortgaged premises, w any part thereof, becomea vested in a person other than the MORTGAGOR, the MORTGAGEE, its successors and auigns, may, without notice to the MORTGAOR, deal with such successw w successor in interest with reference to this mortgage and the dabl hereby secured in the same manner as with Mo~tgagor without in any way vitiating a dixharging the Mor~gagors' liabi~ity here- under or upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the part oi the MORIGAGEE or its successors or assigns and no exrension of the time for the payment of the debt hareby secured g~ven by the MORTGAGE'_ or its successors or auigns, ahall operats ro ~elease, discharge, modify change w affect the original liabitity of the MORTGAGOR herein, either in whole or in part. 10. It is spec7fically agreed that time is of the essence of this contract and that no waiver of any oblfgaf~on hereunder o? of the obligation se- cured hereby shall at any tiroe therealter be held to be a waiver of the terms hereof or of the instrument secured herby. 11. In add~tio~ ?o the fwego'~g monthly payments of princ'pal and interest required by the p~omissory note secured hereby, mortgagor tovenanis and agrees to pay to mo:tgagee w~ith each month!y payrnent an add~iional sum est~mated by mortgagee to be equal to 1~;12 of the annual cost of the follow- 'ng: A-All real property taxes levied or assessed against the above deuribed real estate. ~ B-Premiums on fire and windstorm insurar.ce as Rerein requ~red to be carried on the improvements situate on the above described premises. : i ! C-P~emi~ms on such mwtgage guaranty insurance as mortgagee shall from time to time deem fit to carry on the loan secured hereby. _ f Mortgagee shail !rom time to time notify mortgago~ in writing of the amount due and payable hereunder a~d such sum shal~ thereupo~ be due and ~ payable on the due date of the next month:y payment and each successive month thereaiter urtil mortgagee shall notify 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, a~id mortgage guaranty insurance ~ pretniums. - ' IN WITNESS NiHEREOF, the said MORTGAGOR has hereunto ut his hand and seal the day and year first afor uid_ ~ $igned, Sealed and delivered in the presente of: ~ , ~ v ' sq (Sea4 ' ~U' ~ ~ . ct.uuA/ (Seaq (Seap ~ i STATE OF FLORIDA ~ ~ ST . LUC:IE couNn oF Before me pcrsonally appeared Frederick Davis, Jr. a~ Alice C• DaV15 his wife, to me well known and known to me to be the individuals desuibed in and wFa exec~eted the foregoing instrument, and acicnowledged before me fhat they exewted the same for the purposes fherei~ expressed. Md the said Alice C. ~aV15 wife of the said Freder ick S. DaVl S~ .~r . upon a separate and privats ~ examination by me taken separate and aparf from her said husband, acfc?wwledged fo and before me that aF~e executed said instrument freely and volurr rarily and without any compulsion, constraint, apprehension, w fear of ar from her said husband. ~ _ WITNESS my hand and official seal this a~~ dsy of A r i 1 A. D. 19 7O . ~ ---ry n) `.l'l -ti~ -i• Notary Public in end for the State of Florida at La~ye ~ My Commiuion expires: ~ ~ Return io: - s.~u+~er.r:.,,` . - • . `~~a `N1~i..... rL..uG~ Sldit !k ilu~:.~1.1 A1 LAk6t Fint Federai Savirgs 3 loan Associatioe ~f~ ;j 7'v, MY COMMISSION EXPIRES SEPT. 23, 1973 ~ Of Fort P~erce. ~`U.•'~. 80NDED THRU fitfD w. DIESTEL}IOR.SL . . ' ~ Fort Pierce. Florida ~ Q'.•,: ' ~ : Q: ;f`~~'o'~~~. - : : _ FILEO AND RECORD~D' ~ _ = :.~q;~`t~ ~~`J :.t- _ - ST. LUCiE COUNTY. ~LA'~ ~ ~ ~:i.. *r~'~`,t_ RcCOr7.1J~a7~r t-> ~ . ~ , : . - ; : ~ This Instrument Prepared By Wm. ~tii°c';-~ti~~ i ~ ; First Federal Savin s & Loan Association . _ ~ ` ti . ~ ~ of Fort Pierce ~ z. : h~~':•-= - APR 2 9 r, 9 Florida 'jQ PM 12: ~7 ~ ~ ~ ,;~~':~`iit t ~ , ~ ~ Checked By . ~ nOG~R POiTRAS CLERK CIRCUIT COURTj ~ BooK ~84 8 . _ i ~ ~y t ' - " 4~f~ . _ _ " . ~ ~ r.