HomeMy WebLinkAbout1647 3. To place and cantinuously kcep on the build~~gs now w hereaite~ situate on ~sid land and on ail equi~.ment snd perionaily covered by this matQ~
~ge, with all prcmivms thercon pa~d in full, fire insur~nce in the usual standard policy form, i~ a sum app~oved by tfie MOR~GAGEE, and windsram
insurence in the usuet standard policy fwm, in a sum approved by Ihs MORTGAGEE, in sucA company or companies aa the MORTGAGEE may
di~ect; ~nd all firs and windstorm insurance policies on any of iaid build~ngs, any interest therein w part thereof, in Ihe aggreg+te sum afae~aid a
in e:teu lhereof, shell contai~ the usual standard ma~gayet clausa w such othcr clau~e ai fhe Matgagea may requ~re, making the loss ~nde+ ~a~d polr
cie~, each and erery, payable to said MORTGAGEE as ~ts i~teresl may appear, and each and every such policy shalt be promp~ly ass.gned and delivered to `
~ny held by said MORTGAGEE as further security to said mort9age debt, and, not less than ten (10) days in adva~xe of the expiret~on oi each policy, to de- , i
liver to ieid MORIGAGEE a renewal lhcreof, together with a receipt fw tFK premivm of such renewal; a~d there shall be no i~re or windsto~m insunnce
plxed on any of said buildings, any interest thcrein w p~rt thereof, unless in ~he form and with the loss payable aa aforcsaid; and in the eveM any sum ~
of money becomei payable unda such policy or policies said MORTGAGEE shall have the option ~o reteive and appty the same on accounl of the indebted- ;
neu secwed hereby w to pcrmif said MORTGAGORS to raeive and use it ot any part thereof ior othcr purposrs, witho~t ~h_rco~ waivi~~ or empair-
ing any eqvity, lien p right u~de~ w by virtue of this mo:tgsger and in the evenr said MORTGAGORS shall fa any reason fail to keep the said prem;scs so s
insured, or fail to deliver piomptly sny of uid policies o( insurance to said MORTGAGEE, w fai! promptly to pay fully any pre+nium thereftx or in any i
respect fail to per(am, d~scharge, execute, ei(ect, comptete, comply with and ab:de by this covenaN, w any pa:~ hereof, said MORiGAGEE may place and `
pay for suth insurance or ~ny part thereoi without waiving or affet+ing any oprion, lien, equ;ty, w right under or by virtue of this Mortgags, and the t
fulf amount of each a~d eve~y such payment shall be immediately due and payable and shall bear interest from the date thcreof until paid st the ~ate o1 '
~ine per cen~um per annum and together wiih such interest shall be secured by the lien of ~his mortgega.
1. To permit, comrnit or su(fer no wute, impairment a deterioration of said property or any psq thereof.
S. To pay ali a~d singulu fhe costs, charyes and ezpense~, includinq a reasonable +ttorney't fee and costs of ab~tract: of titte, i~curred or paid at
any time by said MORTGAGEE, because oc in Ihe event of tM failure on ~hc part of ths said MORTGAGOR lo duly, promptly and fully perform, dixMrge,
execute, effect, complets, comply w~th and ab~de by eacfi aid every the stipulations, agreemenrs, conditions, and covenants of uid prom;ssory nofe and thii
matgage any or either, and said costs, charges and expenses, each and every, shall be immediatety due and payable; whetF,er w not there be notite dr
mand, attempt to collect or iuit pending; snd the full amount of each and every svch payment shall bear interes~ from the date tkereof until paid at the
rate of nine per cenfum per arnium; a~c! all said cpsri, tharges and expenses incurred or paid, 1ogelher w~~h such inlerest, shall be secured by !he lien of thii
morty~ge.
6. That (a) in the evenl oF any breach of this Mortgege o~ default on the part of the MORTGAGOR, or (b) in the event any of said sums of nwney
herein referred to be not promptty and fulty paid within thirty (30) days ~ext after the same severally become d.ie and payable, without demand or notice,
or (c) in the event each and every the stipulatiau, agreements, conditiw+s and covensnts ot sa;d pranissory nofe arx! th~s mortgage any or either are not ;
~uly. Promptly and fully performed, dluharged, executed. effected. complefed, comp(ied w~th and abi~d by, then in e7ther a any such eveM the said ap~ S
g~egate wm irxntioned in ssid promissory note then remaining unpaid, with interest accrued, and all moneys secured hereby, shall become dw and pay- ;
able forthwith, w thereafte~, at the option of uid MORTGAGEE, as fully and completely as if all of thc said sums of rtwney were wginslty stipulated i
to be paid o~ such day, anything in sa~d p~omiuay note or in this Morlgage to rhe contrary notwithstanding; and ~hereupon or thereafter at the option of
said MORTGAGEE, without notice or demand, suit at law or in equity, therefore or thereafter begun, may be prpsecuted as if all moneys secured hereby
had matured pr~or to its instit~tio~?.
7. That in the event that at Ihe beginning of or at any time pending any su;t upon this Mongage, or to fweclose it, w to reform it, or to enfwce
payment of any claims hereunder, said MORTGAGEE shall apply to the Court having jur~sd~cuon thereof for the appointment of a Receiver, such Coun shall
forthwifk appoint a receive~ of said rtwrtgaged proQerty all and singular, inciud~rg ali and siogular the income, profits, issues and revenues from whatever
so~rce derived, each and every of whKh, it be~ng expressly understood, is he~eby m«tgaged as if spec~ficelty xt fo~th and described in the granting and
habendum clauses hereof, ar+d such Receiver shall have all the broad and effective funct~ons and powers in anywise entrusted by a Cwrf to a Receiver, sr+d
such appointment shall be made by such Court as an admitted equity and a mafter of abwlute right to said MORTGAGEE, and without reft~ence to the
adequaq a inadequacy of the valve of the property mor~gaged or to the sowency or insol~ency of said MURiGAGOR or the defenda~ts, and that such
rents, profits, income, iuues and revenues shall be applied by such Receiver accord~ng to the tien or equity of said MORTGAC'iEE and the pract+ce of such
Cou».
i
8. To duf , om tl and full form, dischar e, execute, ef~ed, m lete, com I with and abide b each and every the stipulations, agreements, `
Y p~ P Y Y P~ 9 ~+P P Y y ;
co~ditions and covenants in sa:d promissory note and ~h;s mortgage set fwth.
9. That in the evem the ownership of the mwfgaged premises, or any part thereof, becomes vested in a person other than the MORiGAGOR, fhe ~
MORTGAGEE, its successas and assigns, may, without notice to the MOR7GAOR, deal with such successor a successa in interest with refcrence to this
rnort9age and the debt hereby secured in the same manner as with Mo~tgagor without in any way vitiatirg or dixharging the Nbrtgagori tiability here-
under or upon the debt hereby secured. No ssle of fhe premises hereby mortgaged and no fwbearance on the part of the MORTGAGEE d its sutcesson
or assig~s and no extension o( the time for_ fhe payment of the debt hereby secured given by the MdRTGAGE~ or its successors or auigns, ahall operate
~o release, dixharge, modify change or affecf the originat liabil~ty of the NtORTGAGOR hereir~, eithrr in whole a in paat.
10. It is specifica(ty agreed that ~ime is of the essence of thes contract and that no waivn of any obligat~on hereunder w of the obligaYqn se-
c~red hereby shall at any time thereaher be held to be a waiver of the tlrms hereof or of the instrument secured herby. ~
11. In add+tio~ to ~he fwego:ng monthly payments of princ'pal and interest required by the promiuory note secured hereby, mortgagor covenants ~
and agrees to pay to mort9agee with each monthty payment an addirional sum estimared by mortgagee to 6e equal to 1/12 of the annua! cost of the foUow-
ing:
A-All real property taxes levied or assessed against the above described real estate.
B-Premiums on fire and windstorm insurance as herein requ~red to be carried on the improveme~fs sil~ate on the abore described premises.
C-Premiums on such morigage guaranty insurarce as mortgagee shal? from time to rime deem fit to carry on the loan secured her~by.
AAortgagee shall from time to time notify matgagor in writing of the amount due and payable hereunder and such sum shall thereupon be due and
payable on the d~e date of the next monthly payment and eacfi successive month thereafter ur.til mortgagee shall notify mortgagw of a thange in such
amount. $uch sums shail be applied by mortgagee toward the payment of real property taxes, insurance prem:ums, and mortgage guaranty inwnnce
premiums.
IN WITNESS WHERfOF, the said MORTGAGOR has F+ereunto ut his hand and seal the day and year first aforesaid.
ed. Seale an d 1' er n the presence o~: ?
an
an ~
n ~
- ~an
SiAiE OP RORIDA ~ '
ST . I,[1C IE
courm oF
~fae ,11e ~~iiy ,~a~ Frankie Lou Smiley, a single adult and A. C. Gannon
,ed
LOl S F. Gannon his wife, to me well known arrd known to rrK to be
the individuals desvibed in end who execvted the fa ing instrument, and acknowledged befwe me that they executed the same fa the purposes
therei~ expressed. And the uid ~1 S F. ~annon 4
wife of the wid A. C. Gannon ~pon a separete and priwte ~
examination by me taken separate ar?d apart from her said husband, ackrwwledged to and before me that sha executed said i~sfrument freely snd volurr
rarily u~d w;thout any compulsion, constraint, apprehe~uion w fear of or from her said husband.
WITNESS my hand and offic~al seal this ~"~1
. day of May A. D. 19
FILED AND RECORDED ~ ~
~ ST. LUCIE C~UNTY. FL.A. Notary Pubiic ard for the Stat of F{orids u~~e
r'~ ~~"F~ ~ e~~ My Commissioe expiros: I
~ Return To: t~. L~ f• 1
i r' ~S ~
~ ,
193316 ~ - `
Firsf Federal Savi~gs 3 Loan Association ' _
Of Forf Pierce. _ ~ "
~~j ' ~
. fort Pierce, Ftorida ~70 ~qY ~ 3 W'1 IO • OS '
" ~ t~~~'i ' .
~ ~
~~ei~e~ _
This Insfrument Prepared aY ~ `c~ s ~ _ ~ ~ ~ •
First Federal Savings b loan As3b-`tiafion ~.-cr . .
of Fort Pierce ~ F lor ida ~ = ~ ' ;
- :~F - _ , ,
Checked By ~ - , . ~ - - ;
~ . . L: .Q. ~ .
' ~ ` -
0 R Q ~
~;~''o•`-'
B~OK~04 PACE~6~~ .
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