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HomeMy WebLinkAbout1003 3. To place and continuously keep on the bui'dings now or hereafter situate on sa~d ~and and on ali equipment and personaliy cove?ed by this mwtg- age, w+1h all prem~ums thereon pa~d in full, fire insurance i~ the usual srandard po~icy form, in a sum approved b~ ~he MORtGAGEE, and windstwm irtsurante in the usual standard pol~cy fwm, i~ a sum approved by ~he MORTGAGEf, in such company ar tompanies as the MORTGAGEE msy direcr, and all f~re and w~ndstorm insurance po~iues on any of said buitd~ngs, any interest therein or part thereo}, in ~he aygregate sum sfuesa~d w In excess thereoi, shaU contain the usual standard mwtgagee clause w such o~her c~ause ss the Mo~tgagee may requ~re, making ~he loss undr~ sa~d poli- cies, each and every, psyable to said MORTGAGEE as its interest may appear, and each and every such pul~cy shall be promptiy ass gned and delivered ~o •ny FKId by said MORiGAGEE as ~urther security to said mortgage debt, and, ~ot less ~han te~ (10) days in advance of ~he expirat~on of each pol~cy, ~o de- liver to said MORiGAGEE a renewal thrreof, togeiher with a receipt fa ~he premium of svch renewal; and ~here shall be ra i~~e o~ windstorm insurante plsced on any of said b~ildings, any interest therein or part thereof, unless in the form and with the loss payabte as a(wesa~d; and in fhe event any sum of nwney becomes payable under such policy or polKies said MORTGAGEE shall have the op~~on to rece~ve and apply the ur»e w+ account of the indebted- neu secured hereby o~ to permit said MORTGAGORS to receive and use it a any pa~t thereof for oti~!•r purtoses. v.~iho~t th_*.u~ .v~~~i~~3 0~ ~mpa~r- ing any equ~ty, lien w righ! unde~ or by virtue of this mo:'gage; and in the event sa:d MORTGAGORS sha~t fw any reason tail to keep the said p~emisrs so insured, w fail to delive~ promp~~Y any of said pol:cies o( insurance to said MORiGAGEE, o~ fait p:omptly to pay fuily any pre~n~~m therefa w in a~y rexpecr tail to per(orm, dixhar9e, execute, effect, complete, comply with and abide by th~s covenanr, or any part hareof, seid MGRTGAGEE may place and pay fw such insurance or any part tAKeof without wsiving or affecting any optioo, lien, equ~ty, or right under or by virtue of this Mwtgagr, and the tull anwunt of each and every such payment shall be immediately due and payable and shall bear interes~ from fhe date thereof ~n~it paid at the rate of nine per cen?um per annum and to~ether with such interest shall be secured by the lien of this mortgage. 1. Io permit, commit ot suffer no waste, impairment or deterioration of said property a any part thereof. 5. To pay all and singulsr the costs, chuges and expenses, intluding a reasonable attuney's fee and costs of abstratts of title, incurred w paid ~t sny time by said MORTGAGfE, becavse or in the event of the tailure on the part of the said MORTGAGC~R to duly, promptly a~xJ fully perform, d~scharge, execute, e(fect, complete, compty w~th and ab~de by each and eve~y the stipulations, agreen,ems, cond~tio~s, and co~enants of said p~om~swry note and this mortgage any o~ e~?her, and sa~d cost:, charges and expenses, each and eve?y, shall be immedialely due and payable; whether or not ~here be no+ice de mand, attempt to collect or suit pend~ng; and the full amount of each and every s~ch payment shall bear interes~ (rom the date thmeof until paid s~ the rate oi nine per centum per annum; and all said tosts, charges arxl expenses inturred w paid, toge~:.er w~ih such interest, shall be secured by the lien of this mortgsge. 6. That (a) in the event of any breach of this Mortgage or defaulf on the part of the MORTGAGOR, a(b) in the event any of sa~d sums of money FKrein reierred to be not promptly and f~lly paid within th~rty (30) days neat afte~ the same severa!ty bccome due and payable, without dema~d o? notice, or (c) in the event each and every the stipulations, agreements, conditions and covenants of sa:d promissory note and th~s mortgage any or e~ther aro nof ~uly, promptly and iully perf«med, d~uharged, executed, effected, compteted, compt~ed w~th and abided 5y, then in e~ther w any such event the said ag~ gregate sum mentioned in said promi:swy note then remaining unpa~d, with intere,t accrued, and atl moneys secured hereby, shatl betome due and pay- able fwthwith, a thereafte~, at the option of said MORTGAGEE, as fully and completely as if all of ~he said sums oi money were orginally sl~pulated to be pa~d on such day, a~ything in sa~d promiuory note w in this Mwtgage to ~he con~rary nofw~thsrand„~g; and thereupon or thereafter af rhe opnon of said MORTGAGEE, without notice w demand, suit at law or in eqvity, t}~.refwe or thereafter begun, may be prosecuted as if all moneys aecured hereby FWd matured pl~Ot to its inStitVtiOrl. 7. That in the event that at the beginnirg of w at a~y time pending any suit upon this Mortgage, w to forectose it, or ta reform it, or to enfores payment of any claims hereunder, said MORTGAGEE shall apply to the Court having ~urisdic~ion ~hereol Iw the appo~ntment of a Receiver, such Cour1 shail forthwith appoint a receiver of said rtwrtgaged property all and sirgular, includ~ng aIl and singular the income, prof~ts, issues and revenvea from w!?atever source derived, each a~d every of which, it txing expressly understood, is hereby mortgaged as if spec~licalty set forth and desuibed in the granting and habendum clauses hereof, and such Receiver shall have all the broad and effecrive funct~ons and powers in anywise entrusted by a Cou~t to a Receiver, and such appointment shall be made by such Court as an admitted equity and a matter of absolute r~ght to said MORTGAGEE, and withaut reference to the adequacy or inadeq~acy of the vatue of the property morfgaged w to the w~vency or insolvency o( uid MORiGAGOR or the defendants, and that such renb, profits, income, iuues and revenues shall be applied by such Receiver accord~ng tu the lien w equity of said MORTGAGEE and the practice of such CouA. 8_ To duly, promptly and fully perform, discharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, conditions and covenants in sa~d promissory note and this ~mortgage sef fwth. 9. That in the event the ownership of the mortgaged premises, or a~y part thereof, becomes vested ir. a person other than the N10RTGAGOR, the MORTGAGEE, its successors and ass~gns, may, without notice to fhe MORTGAOR, deal with such successor o~ successor in interesl with reference to this mo.tgage and the debt hereby secured in the same manner as with Mortgagor without in a~y way vitiating or d~xharging the Mortgagori fiability herr under or upon the debt hereby secured_ No sale of tFx premises hxreby mwtgagEd and no forbearance o+~ the parl oi the IAORiGAGEE w its successws w assigns and no e:tension of the time fw the payment of the debt hereby secured given by the MORiGAGf~ or its s~ccessors or auigns, sfiall operate ~o release, d~scharge, mod~fy change d affect the orig~nal liabit~sy of the MORTGAGOR herein, either in whole or i~ part. 10- It is spec~fically agreed that time is of the essence of this conrract and that no waiver of any oSl~gat~on hercunder w of the obligation sr tured hereby shafl at any time thereafter be held to be a waiva c,f the terms hereof or of the instrument secured herby. 11. In add~tio~ to the iaego:nq monthly payments of prirx'pal and interest requ~red by the prom~ssory no!e secured hereby, mortgagor covenants and agrees to pay to mo:tgagee with eath monthly payrnent an add~nonal sum est~mared by mortgagee to be egual to 1;' 12 of the annual cost of the follow- 'ng: A-All rea~ p~operty taxes levied or assessed agai~st the above described real estate_ II 6-Prem~ums on fire and windstorm insurance as here~n ?equ~red to be carried o~ the improvemeats situale on the above described premises. i C-Premiums on suth mortgage guaranty insutance as mo~tgagee shall from tlme to time deem fit to carry on the loan ;ecured hereby. f Mo~lgagee shai! from time to time notify matgagor in writing of the amount due and payable hereundrr and such wm shall the(~qqn be.due and ! payable on the dve date of the neat monthly payment and each successive month thereaft:r ur.til mortgagee shall not;fy mortga ~f :f ~th~JqZjf in_ such amount_ Such sums sF.a:t be appiied by mortgagee toward the payment of real property tazes, insurence prem:ums, a~~d moSf~e guaraMy., pfsu~ance premiums. . V = • ~-f IN ~hIITNESS YVHER~OF, the wid MORTG~E~s~d~R[sQ~Q~~ and seal the day and year first aforesaid. 't%`~ s;y~d, s~~~d a^ t~~~~d tn~ ~.~~~flCIE COUNTY. FLA. ~ " ~;-r^~~~ :'''~iF~ED ST LLICIc i Y 8 K .~'s .icu~''tee~ a4 " 192582 ~~er Tr ee n • . _ : dated e ~ s°'n ' 5: , ~..._--•tSM~ ~TU ~ ~ ~,r ~ PI~ ~t . ' ' ~ } Sea~ ~ S Sil~TE OF FLORIDA ~tteSt: couNn ~ St. Luci~ ~ ; CLERK CIRCUIT COURT_ STATE OF FLORIDA COUNTY OF ST. LUCIE ~ 1 HEaEBY CERTIFY, That on this ~ day of , A.D. 19_Z~, before me personally appeared obert Terr and Peggy L. Barry ~ respectively President and '~ics~-President.~•u~ ~ Cashier qf ~ St. I.ucie County Bank Florida , a Corporation~ ffo ~ rr~e. . ~ known to be the persons described in and who executed the foregoing instrument, and severally acknowaedged:.t~e exe : ~ cution thereof to be their free act and cleed as such officers for the uses and purposes therein merttioned; :andltF;at thep - affixed thereto the official seal of said corporation, and the said instrument is the act and deed of said'• corpo~~tior~,,~ . ' WITNESS my hand and official seal at Fort PierceSt.Lucie,Flori , said nty an tate. ' This instrwnent prepared by Frank Fee - irst Federal Savings and Loan qssoc . ~ _ - ~z Fort Pierce Notary Public, in a r State and County af said. ~ y Frank Fee M Commission Exp es: 73 booK~B~ PACE~VUJ ~ ~ , - _ . ~ : : _