HomeMy WebLinkAbout2070 3. To place ar.d continuousiy keep on fhe bui!dings now w herea(rer ~ituats oe? said Iand and on alt equipment end personally covered by this morlQ~
~gf, with all premiums thercon paid in (ull, lire insur~nce in the usual standard polity form, in s sum approved by Ihe MOR(GAuEE, and windstwm
insurance in tM us~al srandard pot~cy to+m, in s aum approved by the MORTGAGEE, in ~uch compa~y or compa~ies as ~he MORTGAGEE m~y
direc~; ~nd all lire and wlrxJstorm insurence policies on ~ny of said bvild~ng~, any in)e~est lhercin or part the~eoi, in ~he aggrega+e sum afaessid w
in excess ther~of, sAall contain the ususl standard matgag.e cla~se or such other clauu as the hlortgagee may require, makirg the lots unda sa~d polH
cies, each and every, payable ~o said MORTGAGEE as its interesl may appea~, and each and every svch poticy shall be promprly ats gned and delivered to
any held by said MORTGAGfE as Iurihe~ srcu~ity to said mortgag~ debt, and, ~ot leu than fen (10) days in advance of ~he expirat~on of each policy, to da
liver ~o sa~d MORTGAGEE a renewal thereof, ~oge~hsr with a receipt fw the premium oi such ~enewal; and ?here shall be no f;re or winds~o~m insurancs }
placed on any of sa~d buildings, any interetl therei~ w parf thercof, unless in the (orm and wifh the loss payable aa afaresaid; and in the event any tum j
of ma,ey L~ecomei payable undcr such policy w policies said MORTGAGEE shall have the optlon to receive and appty the same on account of the indebted- s'
ness setured hereby w to permit said MORTGAGORS to reteive and use it p any part Ihereof fo~ othcr pu~poses, ~virhout th_~~o~ waivi~og impair- +
irg any equ~ty, lien or r+ght unde~ a by virtue of this mo:•gage; and in the event said MORTGAGORS shall fw any reason fail to keep the sa~d premises w !
insured, or fail to delirer promptly any of said policies of insurante to said MORiGAGEE, or fail promptly to pay futly any prernium therefor w in any
respect fail to perform, discharge, execure, effect, complete, comply with snd abide by this covenant, or any parf hereof, said MOR7GAGEE may place and
pay for such insurance o~ any part thercwf w~thout waiving w affectin9 any op•?on, lien, eqv~ty, or rigM under w by virtue of th~s Mor~gage, and the
fu~l amou~t of each and avery such payment shall ba immediately due and payable and shalt bea? interest from the date thereof unti! paid at the rate ot
nine prr ce~tum per annum and to~ether with such intereat shati be secured by the lien of this mortgage.
J. To permit, commit or suffer no waste, impairment w dete~ioration of ssed property p any part thereof.
S. To pay all and singular the costt, charges and expenses, ~ncluding a reasonable attaney's fee and costs of abstracts of title, incurred or pa~d at
a~y time by u~d MORTGAG:E, because a in the event of the fa~iure o~? fhe part of rhe said MORTGAGOR to duly, pron,ptly and fuNy perfa~n, d~stharge,
execute, eifecL complete, comply w~th and ab;de by each and every the stiputat~ons, agreements, condi~~ons, and covenanrs of sa~d prom~ssory note and ~hii
mortgage any w e~~her, and sa~d costs, charges and expenses, each a~d every, ihall be irtimediately due and paya6te; whether or not there be norice da
mand, atrempt to collett or sv+t pend~nq; and the full amovnl 03 each and every such payment sha~l bear interes~ from the date thereot until paid at ihe
rate of nine per centum per an~~um; and all said cos~s, charges and ezpenzes incurred or paid, logether w~th such in~eresL shall be secured by 1Fx lien of this
mortgage.
6. That (al in the event of any breach of this M.ort9aga or default on the pare of the MORTGAGOR, or (b) in the event any of sa~d s~ms of rtwney =
herein referred to be not promptly and fully paid within thirty ~30) days next after the same severally beco~ie due a~d payable, without demand or notice. ~
or (c) in 1F?e event each and every the atipulations, agreements, tonditions and covenenrs oF sa:d promissory note and lh~s moitgage any or either are not ~
~uly, promptly and fully performed, d~xharged, executed, effected, completed, complied wi~h and abided 5y, then in either or a~y such event the said ag #
gregate wm memioned i~ said p~on~isswy note then remaining unpaid, with interest accrued, and all moneys secured hereby, shatl become due and pay-
ebte /orthwith, w rhe.eafrer, at tt~e opr~on of sa;d MORiGAGEF, as fully and completely as if all of the sa~d sums of money were orig;nally stipu~a~ed
to be pa~d on such day, anything in sa:d promissory note w in this Mortgage to the contrary notwithstanding; and ~hereupan o? thereafter at the option of
said MORTGAGEE, without notice w demand, suit at taw or io equity, there(we or fhereafter begun, may be prosecufed as if all moneys secured hereby
had matured pnw to its institution.
7. That in the event that at the beginn~ng of o~ at any time pending a~y suit upon this Mo.tgage, w to fweclose it, w to reiorm iL or to enforce
payment of any claims hercunder, sa;d MORTGAGEE shafl apply to the Court having jurisdiction thereof fw fhe appointment of a Receiver, svth Coun shall
fathwirh appo~nt a recei~er of said mwtgaged prope~ty all and singular, includ~ng all and s~ngutar the income, prof~~s, issues and revenues from whatever
source derived. each and every of which, it ~ing expressty unders?ood, is hereby mortgaged as if spec~ficaily set forth and destribed in the granting a~d
habe~dum clavzes her_.of, and suth Receirer sha!! have all the broad and effective fu~cf~ons and powers in anywise entrusted by a fourt to a Receiver, and
such appointment shall be made by such Court as an admitted equity and a matter of absolute right to said MORTGAGEE, and without reterence to the
adeguacy w i~adequacy of the value of the property mortgaged or to the wivency or insolvency of said MORiGAGOR a the defendants, and that such
rents, profits, i~come, issues and revenues shali be appiied by such Receiver according to the lien or equity oF wid MORTGAGEE and Ihe practice of such
Court.
8. To duly, promptly and fu:fy pe?fo~m, discFwrge, exccute, effect, comptete, comply with and abide by each and every the stipulations, aqreement~,
conditions and covenants in sa;d promisswy note and thii mortgage set forth.
9. That in the event the ownership of the mwtgaged premises, w any part thereof, becomes vested in a penon other thsn the MORTGAGOR, the
MORTGAGEE, its successors and assigns, may, wirhout notice to fhe MORTGAOR, deal with such succeuw o~ successor in interest wifh reference to this
mo+rgage aod rhe debr hereby setured in the tame mannor as wiih Mortgagw without in any way vitiating O~ dixFwrging the Mortgagors' liability here- ~
under or ~pon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the part of the MORTGAGEE or its successors t
p auigns and no extension ol the time for the paymenf of the debt hereby secu~ed given by the MORTGAGEE or its successas or auigns, shall operate
to release, d~scharge, mod~fy cnange or affect the orig~na! liab~lity of the AM1ORiGAGOR herein, either in whole w in part.
10. It is spec~fically agreed that t~me is of the essence of this contract and that no waiver of any obl~gat~on hereunder or of the obligation se- ~
cured hereby shall at any time thereafter be held to be a waiver ol the terms hereof ot of the instrument srcured herby.
11. tn aod:tion to the forego:ng monthly payments of pri~c'pal and interest required by the prom~ssory note secured hereby, mortgagor covenants
and agrees to pay to :r.ortgagee with each monthly payment an addi~ional sum est~mated by mortgagee to be eqval to 1 j 12 of the annual cost of the follow-
ing:
A-All real property taxes levied or assessed agai~st the above described real es~are.
8-Arcno~vens on f;re and windstorm insurar.~e as herein requ:red to be carried on the improvemeats situate on the above described premises. ;
C-Premiums o~ such mortgage guaranty insurar~ce as mortgagee shall from t;me to time deem fit to carry on the loan secured hereby.
Mortgagee sha~l from t~me to time notify mortqagor in writing of the amount due and payable hereundrr and such sum shatl the~eupon be due and
payabte on the due date of the next month!y payment and eath successive month thereafter ur,tii mortgagee shall not~fy rrwrtgagor of a change in such
amount. $uch sums sFa?I be applied by mortgagee toward the paymeni of real property taxes, insurance prem;ums, a~id mortgage guara~ty insurance
p~cmiums.
7N WITNE55 L' RiOF rhe aid M TGAGOR has hereunto ut his hand and seal ihe day and year first aforesaid.
' r~ed. Seal nd li 'n esewce of:
~ , ` +n
~ ,,~~;U~.~.:, ~;~j+
i~ ' y - ..r. : . '0
.'V ,i•_
STATE OF FLOQIDA - ,t . / il, l•- -
.n •ti ~ .~o `r_ ~
COUNTY OF St Lucie ~ ~r- C3 ~ j~
' ' _
Before me perwnally appeared Marita Monteith si le ad
. a n~ t • = ' o .
. . • ~ ~c
~mo~oc to ~ W~n k~,M, ~'~~}~Q_,a, . + .e.
the individual~ desvibed i~ and who executed tF~e foregoirg ~nstrument, and acknowtedged before me that ~er executed the ¢a(+~e. ~id~~ fh!'
,~*~t.~.~:+ .
fherein expressed. lOfdf~~ -
.
7~f3E]BblhFAlSld
WITNESS my hsnd and official seal thi__ day of A. D. 19_~`! f
~
Nota blic in and for the State ot Flwida at Larye
Retum To: My ~~mission expires: ;
Fint Feder~t Savings 6 toan Association r~..::i,. ;,sNi~ ~F FLQii_;;A (,A~{G~
Of Fort P~erce. t~lY C01`AiJiljSfOly ~(pIRES NOY. 1Y?; i
FOf~ Pierce, Florida ~H~~D TI/ROUGH RpED ~1'~ DiigTE~HORy_ ~
FILED AND RECORDED ~
ST. LUCfE COUNTY. FLA.
:':E:CQ~^ ;~r~?,:~~p
This I~strument Prepared By Jg~pgg D. Chastain ~
First Federal Savings & Loan Association ~s ??PO ?t,lc..c.G~i 3
of Fort Pierce ~ ~0~~ ~lo 't~e~ Z Q ~ p . ~s ~
G
Checked By ~
r~~'~r'~, ~.01~3~11~ pg 1
CL~RK CIRCUIT COURT ~
aoo~~.8~ ~acE~~7 ~