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HomeMy WebLinkAbout0850 3. To pl~ce and conti~uousiy keep on the buildi~ys now a M~e+iter ~ituat~ on said land and o~ atl equipment and personslly covered by thit mort¢ ~ ag~, w~th all premiums Ihereon paid in full, firs i»surance in the usu~l ~iandard policy form, in a sum approved by the MORTGAGEE, ~nd windstorm insuronce tn the ~sual standard policy tam, i~ • sum app~oved by the MORTGAGEE, in such company o~ companies as 1M MORTGAGEE may ~ direds and ~I) firs and windstorm i~surance policiea on any of said build~nps, any infcrest therein or part thereof, in 1F+e aggregate tum afaesaid or ~ in exceu thereof, ihall confain ths usual standard mortpage~ cl~use w such o~her clauie ~s ~he Mortgagee may ~equ~re, making the los~ u~der sa~d po1F i cie~, aach and every, payable to said MORTGAGEE ~s ift intereat may ~ppear, and each a~d every such poiicy shalt be promptly ass.qned and delivered fo ; a~y held by said MORiGAGEE as fu»he~ security to ssid malga9e debt, and, ~ot leu Ihan ten (10) days in adva~xe of the expirat~o~ of each poticy, to da liver to taid MORTGAGEE a renewal thereof, together wiih ~ receipt for the premium of t~ch renewal; and there shall be +?o i~re or w~ndstorm insurance plsced on ~ny of said buildings, any intereat therein or part there+ot, vnlesa 1n ~he form and wiih Ihe loss payabie as ataesaid; and in the e~ent any :um of money becomq payabte ~nder such policy p policies wid MORTGAGEE shall have t?w option to receive and apply the same on accouM o( the indebted~ neu setured hereby or to pe~mit said MORTGAGORS to reteive and us~ it o? any part thereof (or othcr purposes, w~thout th:reb~ wai~in~ o~ impair. irg any equity, lien oi right under w by virtue of thii mo:tgage; and io the event wid MORTGAGORS shall for any reason iail to keep the said premises so insu~ed, or fai) to delive~ promptly ~~y of said policies of insurante to aaid MORTGAGEE, w fail promptly to pay fully any pre~n;u~n there(w w in any respect fait b perform, d~uha+ge, execute, effect, tomplete, tomply with and abids by this cove~+ant, w any pa~t hereof, said MORTGAGEE may place and pay for tuth insurant~ or a~y part thereof without waiviny o? affectirg any option, lien, equity, or ri~ht under or by virtue of this Matgage, and tAt full amount of each and evary such payment shalt be immediately due and payabte afCd sAatl~ear interest from 1he date tAe~eof until paid at the rate oi ! nine pe? centum pet annum and fogether with suth interest shall be secured by the lien of this mwtgage. 4. To pe~mit, commit w auffe~ no wa~te, impairment a deterioratio~ of iaid property ot any paA thereof. S. To pay all arsd singula the cosri, ciurges and exExnsei, including s ressonable attwney i fee and costs of abst~acts of tiHe, iocurred o~ paid al a~y time by said MORTGAGEE, becavse w in the eveM of the {ailura on the part of fhe said MORTGAGOR to duly, promp>ly and fu!ly perfwm, d~xharge, exetute, effed, complete, comply with and ab:de by each artd every the stipulations, agreements, condifiona, and cove~ants of said promi:so?y note and thi~ mortgage any or e~~he~, and said costs, charges and expenses, each and every, shall be immediately due and payable; whether w not there be norice de mand, attrmpf to co!lect ot suit peading; a++d the full amounf of each and evcry such payment ahatl bear interest irom the da~e thereof until paid at the ~ate of ~ine per centvm per ami~m; and all said costs, charges end expenses incurred or paid, together w~th such interest, ~hall be secured by the lien of tha rtwrtpage, . Q Thst (s) in tAe eve~t of e~y brcach of this 1Nortgage or defa~lt on !he pa~t of the MORTGAGOR, or (b) in the event any of sa~d sums of mo~ey herein referred to be not promptly an~ tully paid within thirty (30) days next after the same severatly become dve and payable, withow demand w notite, or (c) in the event each and every tF±e itipvlations, sgreements, cw~ditions and cov~nanrs of said promiswry note and th~s mortgage any a ei~her ~re nol ~uly, promptly and fully perfwmed, d~scharged, executed, effeded, completed, compl~ed with and abided ~iy, ~FKn in e~ther a any such event the ~aid ag gregate sum mentioned in said promissory note the~ remaining unpaid, with inrerest atcrued, and all moncys setured hereby, shati betome d~e snd pay- abte forthwith, or rhereaEter, at the option of said MORIGAGEE, as futly ~nd completely as if a11 of the said sums of money were w3ginally st~pulated to be paid on such day, anything in said promissory note or in this Mortgage to the contrary notwithstanding; and thereupon or thereaite? at tl~e option of said MORTGAGEE, without notke w demand, suit at law a in equity, therefwe or tfiereafter begun, may be prosecuted as if all moneys secured he+eby had matured pnor to its inslitution. 7. That in the event that at the begi~nirg of w af any time pcndirg any suit upo~ this Nbrtgage, w to forectose it, or to refwm it, a to e~force paynxnt of any tlaims hereunder, iaid MORTGAGEE shall appty to the ~ou?t having jurisdiction thereof fw fhe appoinfinent of a Receivei, svch Co~rt sFwll For?hwith appoint a receiver of said mortgaged property all and singular, includ~ng all and singular the income, profits, issues artd revenues from whatever source derived, each and every of which, it being expressly ~nderstood, is hereby mortgaged as if spec+(ically set forth and desuibed in the gran~;ng and habendum clavses hereof, and suth Receiver shall have sll the broad and effenive funcnons and powers in anywiso entrusted by a Court to a Rcceiver, and such appointment shall be made by avch Court as an admitted eqvity and a matter of absotute right to said MORTGAGEE, and without reference to the adeqvacy or inadequacy of the value of the property nwrlgaged or fo the wtvency or insolvency of said MORiGAGOR or ~he defendants, and that such ren~s, profits, income, iuues and revenues shall be applied by such Receiver accord~ng to the lien w equity of wid MORTGAGEE and the practice of such CouA. 8. To dvly, promptly and fully perform, ~'ischarge, execute, effect, complete, cort+pty with and abidt by each and every the sfipulations, agreements, conditions and covenants in said promissory ~ote and this mortgage set fwth. 9. That in the evenf the ownership of the mortgsged premiies, w any pa?t thereof, becomes vested in s perso~ other than the MORTGAGOR, the MORTGAGEE, its svcceuors and augns, may, without notice to the MORTGAOR, deal with such succeuw or successw in interest with reference to this mortgaqe and the debt hereby secured in the same manner as with Mortgagor without i~ any way vitiating w discharging the Mortgagors' liability hua under w upon the debt hereby secured. No sale of the premius hereby mortgaged end no forbearante on the parl of the MORTGAGEE or its sutceuws or assigns and no extension of the time fw the payment of the debt hereby secured given by the ARORIGAGE~ or its s~ctesson o? au;gns, afull operate to release, discharge, modify change w affect the original liab~{ity of the 1NORiGAGOR herein, either in whole or in part. 10. It is specifically agreed that time is of the essence of this contrad and that no waive? of any obligatlon hereunder or of the obligatan se- cvred hereby shall at any tune thereafter be heW fo be a wsiver of the terms hereof or of the instrument secured herby. i 1, In addrtioa to the forego:ng monthly payments of prin~ pa! and inte?est requered by the promissory nore secured hereby, mortgagor covenaMs and agrees to pay to mo:tgagee.with each monthly payment an add~rional sum est~mated by mwtgagee to be equal to 1%12 of the annual cost of the fo~low- ing: A-All real property taaes lev~ed w assessed agai~st the above deuribed reat esrate. 8-P~em~ums on fire and windstorm insurance as herein requ~red to be carried on the 7mproveme~ts situate on tfie above described premises. C-Premiums on such mortgage guaranty insurar~~e as mortgagee shall irom time ta time deem fit to carry on the ban secured hereby_ Mortgagee shall irom time to time notify mortgagor in writing of the a~nount due and payable hereunder and suth sum shall thereupon be due snd payable on the due date of the next monrhly payment and each successive month thereafter ur.til mortgagee shall not~fy mortgagor of a change in such amount. Such sums sNatl be applied by mwtgagee toward the payment of real property taxes, insurance prem:ums, and mortgage guaranfy insurance premiums. IN WITNE55 VNHEREOF, rhe said MORTGAGOR has hereunto set his hand and seal the day and year first a(oresaid. Sig Sesled an eliv r e presence of: n cx.n n - ~n STATE OF FLORIDA 1 couNn oF _ St . L ucie ~ ~ Befwe me personslly appeared Ac~rna rd k~'oYl V Patric ia k'ar le y his wife, ~o me well known and known to me to be tfie individvala destribed it~ and who executed the fuegoing instrument, and atkrwwledgxd befwe me that they executed the same for the purpoaes therein expressed. And the said P~tr1Ci~ WOTl@y wife of the said a@=S~t(3. WOIle}/ ~p~ s~~~y~ ~,~e exami~ation by me taken uparate and apart from her said hvsbsnd, atknowtedged to and befwe me that she exetuted said instrume~tt fiNijl~ y1d yp~n- tarily and withoui any compuiian, constraint, apprelxnsion, or fesr of w from her said husband. - WITNESS my hsnd and official seal this day of A Xl~ . y FILED AND REC = ``"~~J`~,~-'' ST,~ U oE COUNTY, FLq, Myra.,, P„bc~ .,,d ro. rna s~; '-•,r .~~.1Fl~n Comm~ssion expires: ~.Zi ~ Return To: N ~ ~ Q_--~'~,:;.~ fint federat Savings 6 toa~ Association ~ l'~ "`3~ t .U ~:'3. Of Fort P]erca ~Tp APR 3 0 ~ ~ _ r• ~ L' fort Pierce, Florida 9~~~ ~ ~ ~L ° a . {1,;~ ri:~ ~ . nOCcP, ?•Oi7Rr:S~` ! , t`~~~ ~ This Instrume~t Prepared By ~i~~'Q~~~p~~RT~ First Federal Savings b loan Association of Fort Pierce, FZorida ~ ~ Checked By ~ Q~ ~ BOOK 1S~ PAGE~.~JI! ~ cf " ~ ~ --t _ " ~ T '