HomeMy WebLinkAbout2514 3. To place and continuously keep on 1he bui!dings now a hereaft~? situate o~ said land and on stt equipment and perwnally covered by this mo~t~-
~ge, wirh •il premiums ~hereon pa~d in fuli, fire insurance in the usual standard policy form, in a sum approved by the MORtGAGEE, and wind~tum
inturancs in the usual srandard pot~cy Form, in a sum approved by 1he MORTGAGEE, i~ such company or companies ss the MORTGAGEE m~y
diretr; and all firs and windstorm insurence poticies on any of said buitdings, ~ny ineereat the~ein or part thtreof, in ehs aggregate ~um ataesaid o~
In eacess Ihereof, shall contain the usval standard mo~tgagee ctause w iuth o~her tlause as ths Mortgagee may requ~re, makin~ ~M loss und~ ta~d poli.
cies, each and evcry, payable to sa~d MORTGAGEE as its intereit may appear, and each and every such pol~cy thalf be promptly ass:gned and de~ivered to
•ny held by satd h10RTGAGff as fureher seturity to said mal~age debt, snd, not leu than ten (10) days in advance of the expiration of each policy, to da
liver to said MORTGAGEE a renewal thereof, together with a[eceipt for 1he premium of tucfi renewal; and lhere shall be ro f~re or windsto~m insurante
plsced on any of sald buildings, any intereit therein or parl fhereof, unleu in the form arrd wifh ~he losa payable as aforesaid; and in tM event any sum
of money becomes payable undcr such policy a pol~cies said MORiGAGEE shall have the option to receive and apply the same on accovro of the indebted
neu secured hereby w to permit said MORTGAGORS ~o rcceive and use it a any part thereof for otixr purposes, v+~~hout rh_.cb~ wafYin~ or ~mpai.-
ing any equity, lien or r~qht urtdea p by virtue of lhis morlgage; and i~ the event said MORTGAGORS shall fa any reason lail to keep Ihe ~aid premise~ ~o
insured, w fail ro del~ver promptly s~y oi said policies of insurance to said MORTGAGEE, w Fail promptly to psy fully any pre~nium tlxrefor a in any
?eipect tail to perform, d~scharge, execute, ef(ec4 comple~e, comply with ar?d abide by th7t cove~ant, w any part hrreof, said MORTGAGEE may place and
pay fo~ such insurance or any part thereof without waiving w ~ffetting any oplion, lien, equity, or right unde~ w by virtue of this ktatgage, snd the
1u11 amount oi eech and every such payment shall be immcdiately due and payable and shall bear inferest irom tha date thereof vnti! paid at the ~ats ol
nine per centum per annune and to~r~her with such interest shall be secured by the lien of this mortgage.
4. To permiL commit or suffer no wasre, impairment or deter~oration of said property q any part the~eof,
5, To pay all and singular the coats, charges and expenaes, including a reasonable attorney i~ao-and costs of abstracts of t~tle, incurred or psid at
any time by said MQRTGAG:E, because or in the eve~1 of the failure on the part of the said MORTGAGOR to du~y, prort,prly and (u!!y pe~fam, dixhargs.
execufe, elfect, complete, corr,ply w~th and ab:de by each and every ~he stipulatio~s, agreements, conditions, and covenant; of said promisso~y note and thii
mortgage any or either, and sa~d costs, charges and e~cpenses, e~ch and eve~y, shaft be immediately due and payabte; whe?her w not ft~ere be nofice do-
mand, attempt to collect w suit pending; artd the ful! amovnf of each and every suth payment shall bear intereal (rom Ihe date thereof until paid af the
rate o~ niree per centum per an~~um; ar~ all said costs, charges and expenses inturred or paid, togethe? w~th such interest, shall be setured by the lien of thit
mortgsge.
6. That (a) in the event of any breach of this Mortgage o~ default on the part of the MORTGAGpR, or (b) in the event any of sald sums of money
herein referred fo be not promprly and fully paid within th~rty (30) days next atter ~he same severally becane due and payab:e, wi~hout demand or notice,
or (c) in the evcM each and every the stipulations, agr~ements, conditions and covenants of sa:d promiuory note and th~s mo~tgage any or eithcr are not
iuly, promptty and fully pe~formed, d~scharged, executed, eltected, completed, complied witA and abided Sy, tFxn in e+ther or any such event the said ~g
gregate s~m mentioned in said promissory note then remaining unpaid, with interest accrved, and all moneys setured hereby, shall become due and p~y-
abte forthwith, w rhsreaiter, at the opt~on of said MORTGAGEE, as fu!!y and compleuly as if all of the sa~d sums of mor.ey were onginally s~ipulatcd
to be paid on such day, anything in sa:d prom~sswy note q in this Mortgage to the contrary notwithstanding; and ~hereupon or thereafter at the option of
said MORTGAGEE, ~vithout ~otice or demand, suit st law or in equity, therefoie w?hereaiter begun, may be p~osecuted as if a!1 moneys secu~ed lxreby
had r.utured pnw to as insHtuuon.
7, That in th~ event that at the beginning of or at any time pending any s~it upon this Matgage, w to fweclose it, w to reform it, or to enfwte
payment of any cla~ms hereu:ider, ~a~d MORTGAGEE shal! apply to the Court having ju~isdiction thereoi iw lhe ap{w~ntment of a Receiver, such Court shall
forthwith appoin! a receiver of said morfgafled procerty all and sing~lar, includ~ng all and s~ngular the income, p+of~ts, iss~es and ~evenuet from whatever
sovrce de~ived, each and every of wh~ch, it being expressly understood, is F+ereby mwtgaged as if spec~f~cally set fwth and described in 1he granting a~d
habendum clauses f+ereoi, and such Receiver shall have al1 the b~oad and effecrive (unct~ons and powers in anywise enlrus~ed by a Court to a Reteiver, and
such appointment shall be made by s~ch Court as an admitted equity and a matter of absolute right to said MORTGAGEE, and wiihout reference to the
adequacy ot ir.adeqvacy oi the value of the property mortgaged or to the solventy or insolvency o( ~said MORfGAGQR or rhe defendants, and that such
?enrs, profirs, income, iuues and reve~ues sha{I be applied by such Receiver accwding to the lien w equity of sa~d MORTGAGEE and the practice of such
Court.
B. To dufy, promptly and fully perform, d~scha.ge, execute, effed, complete, comply wi~h and abide by each and every the stipufations, agreements,
conditans and covenanrs in sa~d promissory note and th:s mortgage set fath_
9. That in the event tFr_ ownership of the mortgaged premises, or any part thereof, becomea vested in a person other than the MORTGA('ipR, thQ
MORTGAGEE, its successors and ass~gns, may, without notice to the MORTGAOR, deal with such successw w iuccessor in ;nterest wirh reference to this
mor~gage and the deb~ hereby secured in the same mannet as witb Nbrtgago~ without in any way vitiating or ilischarging fhe Mortgago?i Iiability here.
under or upw~ the debt hereby secured. No sale oi the premixs hereby mortgaged and no forbearance on the part of the /AORTGAGEE a its successors
or assigns and no extension of the time for the payment of the debl hereby secured given by fhe MORTGAGEt o~ its successors q assigns, ahal) operate
~o release, discharge, rnodify change or afiett the original liabi{ity of the MORTGAGOR herein, ei~her in whole w in part.
10. It is spec~ficatly agreed that time is of the essence of this contract and that no waive? of any obl~gat~on hereunder w of the obligatan st
tured hereby shall at any time lhereafter be held to be s waiver of the terms hereof or of the inslrumenl secured herby.
11. In add:t~o~ to the fo~e~o:ng momhty payments of princ'pal and inrerest required by the promissory no!e secured hereby, mortgagor covenanfs
and agre¢s to pay tq mortgagee v~ith each monthfy payment an add~~ional sum estimated by mortgagee to be equal to 1/12 of the annual cost of the foilow-
'ng:
A-Atl real propeity taxes levied or assessed against the above deuri~ ~eal estate.
8-P~ert:~o~ns on fire and windsrorm insurar.ce as herein requ;red to be carried on the improvements situate oo the above described premius.
C--Pre~niu~ns on svch mortgage guaranty insurar~ce as mortgagee shall from time to ti~ne deem fit to carry on the loan secured hereby.
Mwtgagee sha'~ from time to tirr~ notify mortgagor in writing of the amaunt due and payable hereundrr and such surn shall thereupon be due and
payable on the due date of the next monthty payment and each successive month thereafter ur,til mortgagee sbal) noi;fy moitgagor of a change in such
amount. Such sums sha;l be applied by mortgagee toward the paymertt of real property taxes, insuracxe prem:ums, an~ mortgage guaranty insurante
premiums.
IN PtE~S VJNfRfOf, rhe sa'rd M~ TGAGOR has he~eunro set his hand and seaf tbe day and ear firsl afwesa' .
~ Seal d ii 'n fie esence of: • - •
_ .~n
.n
~-n
~-n
STATE OF FIORIDA ~
St IuCie ~
courm oF
am A. Sigurdaon
Befwe me pe.wnally appeared a~
Shel'OTl N. Sigurd~on his wife, to me well known and knawn to me to be
the ~nd,viduals desuibed in and who executed the foregoiny instrumeM, and acknowledged before me that they executed the same fot th~ purpose~
therein expresud_ And the said Sharon N. aS~QI1Tf130Y! o"~'~r,~~
wife of the said W'~~j.BUI Sigurdson E, ~~aM
exam;~at~on by me tafcen separate and apart from her said husband, ~d~cnow~edged b snd before me that she executld,sai~! u~afru~eM freslx,'a~! ~volvrl-
rarily and witho~t any compulsion, constraint, apprehension, or fear of or from her taid husband. _
'rid ~ =`~t : 4,'`~
WITNESS my hand and official seal thi~ ~ Z. day of ~ ~ ~~~p
. = ti~- ~ ~
~ c~
_ ~ _ ~
• '~M~ F~~P~?~~, ~ ~`•8'='~'_~.
Retum To: -(f'~ ~
~¢•s•7/ sT. ~uc~~ c~ Fr , ~
9 ~i~COR~ VcRlF,cn c-~.'_~:;'.~':
first Fedenl Savi~ s 6 Loan Association ~
Of fon P~erce. ~93~13 ~ ~ ~
Fort Pierce, ftorida '
'TO M~1Y 27 Ah~ 10 : 3S~
This Instrument Prepared By RiCh3Td K. K8ye8
First Federal Savings & Loan Association fin'=%i? i~~lTR :S
of Fort Pierce~ F2oMds CLERK CIRCUIT COURT' .
Checked By ~
eoox~$~ ~acE~S~,~, pg
r
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