HomeMy WebLinkAbout1554 3. To ptace snd continuously kcep on the b~i!dings now or hereafter utuatt on ~sid land and on alt equipment and personalfy cove~ed by thit mort9-
age, with all premiums thereon pa~d in full, fire i~sursnc~ in tM usual s?andard poiicy torm, in a tum ap{xo+ed by ~he MORTGAGEE, and windstwm
insu~ance in the usual srandard pol~cy fam, in ~ ium ap{xoved by the MORTGAGEE, in tuch company o~ companiq as the MORTGAGEE may
duect; u?d all fire and w~ndstorm insurancs policies an any of said build~ngs, any interest therein or part thereo(, in the agg~egate sum aforesaid o~
in exceu thereof, shall contain the usual standard matgagee clause w such o~her clause as the Mortgagee may ~cqu~rs. making ~he loss unde+ sa~d polf
cies, esch and every, payable to said MORTGAGEE as its interest may sppear, and cach and every such poiicy shall be prompNy ass.gned and delivered to
uiy held by said MORTGAGEE as fur~her iecurity to uid matgage debt, and, not leu tha~ ten (10) days in advance of the expiration of each policy, to da
live? to said MORTGAGEE a renewal Ihmeof, to9e~her with a receipt for the premivm of such renewal; and ~here shall be no f~re or winds~orm insuraoce
placed on ~ny of said building4, any intcrest therei~ o~ part thereof, unless in lhe form and with the loss payab~e as a~oresaid; and in the event any sum
of money becomes payable under such poliq w policies taid MORTGAGEE shall have ~he opt~on to recewe and apply the same on account of the indebted-
neu setured hereby a to permit said MpRTG4GOR5 to receive snd use it w any parl thereo( for oshcr purposes, .vithout th:rrby waivi~~3 0~ ~n,pair-
inp any equity, lien w right under w by vlrlue of this mortgage; and in tF~e event iaid MORTGAGORS shall [or any reason fail to keep ~he said premises so
Insu~ed, w fail ro deliver promptly any of said policies of insurartce lo said MORTGAGEE, a fail promptly to p~y futly any pre~nium ther:fw w i~ a~y
respect fail to perfwm, discha~ge, execute, effed, complete, comply with and abide by th~s covenant, or any part hrreof, said ASORTGAGEE may place and
pay fw such inturance or any part thereof without waivinp or affecting any option, lien, equity, o~ ?ight vnder ot by virtue of this Matgage, ~nd the
full amount of each and every such payment sMll be immediately due and payable and shall bra~ interest irom the date thereoF until paid st the rate ot
nine per centum per annum and togethcr with such intere:t shall be secured by the lien of this mortgage.
1. To permit, commit or suffe? no waste, impairment a deteriorstion of said property or any p~rt thereof.
5. To pay all and singular the costs, charges and expenses, including a reasonable attwney i fee and costs of abstracts of title, incurred w paid at .
sny time by sa7d MORTGAGEE, becauu a in the event of the failure on the parl of the said MORTGAGOR to duly, prornptly and futly perfwm, d~uharge,
execute, effett, comptete, comply with and ab:de by each and every the stipulat~ons, agreements, conditions, and covenants of said promissory nott and this
mortgage any o~ ei~her, and said costs, charges and expenses, each and every, shall be immediately dve and payable; whether w not there be notice de
mand, attempt to collect w suit pending; and the f~ll amount of each and every such payment sfiall bear interes~ from ~he date thereot until paid at the
rate of nine per centum per arnium; and all s~id msts, cha~ges and expenses incurred w paid, together w~th such interest, otwll be secured by the lien of this
morlgage.
b. That (a) in the event of any breach of fhia Mwtgage a default on the part of the MORTGAGOR, a(b) in the event any of saEd sums of money
herein referred to be not promptly and fully paid within thirty (30) days nezt afte~ the same severafly become due and payable, without demand or notice,
w(c) in the event each and every the stipulaiiw?s, sgreements, conditions and covenants of sa;d promissory note and th~s mortgage any w either are not
~uly, pranptly ar~d (ully perfwr»ed, diuharged, executed, effected; tompleted, complied with and abided by, then in e;ther or any such event the said ag
g~egate sum menrioned in said p~omiuwy note then remaining unpa~d, with interest accrued, and atl moneys secured hereby, shall become due and p+y-
able fathw~th, w thereafter, at Ihe option of said MORTGAGEE, as fully and completely as i( all of the said wms of money were aginally s~~pulated
fo be pa~d on such day, anything in said promiuwy note w in this Mortgage to the contrary notwithstanding; and thereupon or thereafter at the option of
saed htORTGAGEE, w7thout notice w demand, suit at law a in equity, therefore or thereaf~er begu~, may be prosecuted as if alf moneys secured hereby
had matured pnw to its institution.
7. That in the event that at the beginning of or at any tirn~ pending any suit upon this Mwtgage, w to forectose it, or to refwm it, w fo enfwce
payment of any claims hereunder, saed MORTGAGEE shall apply to the CouN having jur~sd~ction thereof for the appo~ntment of a Receiver, such Coun shall
fwthwith appo~nt a receive~ of said mortgaged property all and sirgu~ar, i~clud~ng all and singular the incame, profits, i:sues and revenues irom whatever
source derived, each and every of which, it being expressty understood, is hereby mwtgaged as if spec:fically xt iwth and described in the grantir+g and
habendum clauses hereof, and such Receiver shall have all the broad and effective tunct~ons and powers in anywise enteusted by a Court to a Receiver, and
such appointment shall be made by such Court as an admitted equity and a matte? of absolute rlght to said MORTGAGEE, and wirhout refererxe to the
adequacy or insdequacy of the value of the p~operty mortgaged or to the wtvency or insotvency of said MORTC,AGOR or the defendants, and that such
rents, prof~ts, income, issves and revenues shalt be applied by such Receiver according to the lien pr equity of said MORTGAGEE and ~he pradice of such
Court.
8. To duly, promptly and fully perfwm, diuharge_ execute, effect, complete, comply with and abirJe by each and every the stipulations, agreements,
conditions and covenanu in said promissory ~ote and this mortgage set fwth.
9. That in the eveM the ownenF~ip of the mortgaged premises, or any part thereof, becomea veated in a person other than the MORTGAGOR, the
MORTGAGEE, its successors and assigns, may, without notice to the MORTGAOR, deal with such succeuw w successor in interest with reference to this
mortgsge and the debt hereb~ secured in the same manner as with Mortgagor without in any way vitiating or diuharging the AAwtgagors' liability herr
under w upon the debt hereby secured. . No sale of the premises F~ereby mortgaged and no forbearance on the pa~t of tF~e MORTGAGEE o~ its successon
or assigns and no extension of the time fw the payment of the debt hereby secured given by the MORTGAGEE o. its successus or assigns, shall operate
to release, discharge, modify change or affect the oriflinal liability of the 1NORTGAGOR herein, tilher in whole or in part.
10_ It is spec~fically agreed that time is of the essence of this contract and that no waiver of any obl~gat~on hereunder w of the obligation sr
tured hereby shaU at any time thereaher be held to be a waiver of the terms hereof or of the instrumeM secured herby.
11. In add~tio~ to the forego:ng monthly payments of princ'pal and interest required by ihe prom~ssory note secured hereby, mortgagor covenants
and agrees to pay to mortgagee with each monthly payment an ad~~rianal sum est~mated by mortgagee to be equal to 1/12 of the annual cost of the follow-
ing:
A-All real property ta:es levied w assessed against the above desaibed real estate.
B-Premiu~ns on fire and windstorm insurar.ce a; herein requ~red to be carried on the improvements situate on tlie above described premises.
I C-Premiums on such mwtgage guaraNy insuraoce as mortgagee shall from t;me to time deem fit to ca~ry on the ban secured hereby.
Mortgagee sfial! from time to time noNfy mortgagor in writing of the amo~nt d~e and payable hereunder and such sum shall thereupon be due and
payable on the due date of the next monthly payment and each s~ccessive manth thereafter ur.til mortgagee :hall notify. mortgagor of a change in such
amount. Such sums sF.all be applied by mortgagee tov~ard the payment of real property taxes, insurance prem:ums, aix! mwtgage guaranty insurance
premiums_
IN W ESS WHEREOF, the said MOqjGAGOR has hereunto set his hand a~d seal the day and ar first aforesaid.
Si , 5 aled an eliv r f~presence of:
ap
aQ
~Sea4
ra.~q
STATE OF fIORIDA i
courmr oF St Luc ie i
eefa~ ~ personally appeared Donald R. Bro~,rn
Palma M. BI'Ok'Il his wi?e, to me well known and known to me to be
the indiridwls described in and wFa executed the foregang instrument, and acknowtedged before me that they executed the same for the purposes
r~.~~~ ~~.~~d. a,a t~ Palma M. Brown ;
wife of the said Donald R. BI'OWIl upon s upar~te and priwte
e:aminatwn by me taken separate and apart from her said husband, adcnowledged to and befo~e me that she executed said instrument freely and volun-
tarily and without any compulsion, constraint, apprehensia+, or fesr of or from her said husbsnd.
WITNESS my hand and official seal thi~~~~.;~~~~f Ma A D. 19 7`7
~ ST. LUCfE COUNTY.
~ C 0 P. ~ V E R I F I E D Notary Pubfic in and for tix State f Florida at Larye ~
~93252 My Commission expires: ~
Return To:
First Federal Savings 3 loan Astociatio~ q
Of Fort Plerce. ~V ~Y f G W'~ 9•~' ~tary P_'~~lC. St3~@ ~ 1'fOflQi d[ ~lQ~ ~
Fort Pierce. Florida ~.y~ i•: . ~w~
~"~i ~E~:. ~3, i~7~ }
~L E... Lr A,'.r~_~r f.r+ 6 Cci.sfi' Co. l
i
RO~~~? r^0lTRAS :
+ • '
CLERK ~iRCUIT COURT' ,e.~,,,,~~.~, Y
This Instrument Prepared By Richard K. K~yes ~ '
First Federal Savings 8 loan Association ~ €
of Fort Pierce , ~'lorida ~ . ;
~ - ~ ~ : }
~ k- ~ ;
Checked By ~ n n :i ~~Q~ ~
6UOK184 PJICE~~~~. f~:;~>, Z~;~; J. ~
~ •
~ ~a ~
~ ~ 3 I , . ~ ~ i~ ,','iS~;~~~;lit:'1J ~
~ -
~
_ . . . _ . _ . ' . . ~ _ ~