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HomeMy WebLinkAbout2801 . ~ . . . ~ 3. To plx~ and conti~uouaty keep on ths buildings now a here~fter ~~twte on i~~d Iand ~nd a+ all cquipm~nt and pe~sonatty cove.ed by this mar~ p~, with atl premiumt thercon pi~d in fu~l, fire insurance in ths usual ~tandard policy torm, in ~ sum approved by ~ha MORiGAGEE, and wi~dstorm in~v~ance in the usual s~andard ppl~cy fam, in a sum spproved by fht MORTGAGEE, in ~uch company or companies ss the MORTGAC~EE may dinds and all fin and w~ndstorm insurar~ce poliue~ on any of isid buitd~rgs, any interast therein or pa?t thereof, in !hs aggrep~te ~um afwesaid or M~xcess Ihereof, ihsll conlain tha usual standard mongage~ clause w such o?her clauu as tM Mo~tprges may rcqu~rs, makinp the los~ under ,aid pol} cas, each and every, payable to said MORTGAGEE aa its intcrest may appear, and each and every ~~th pof~cy ~hali bs promp~ly ~ss:gntd and def~vered to •ny held by said MORIGAGEE as further security to saFd martpape debt, and, no1 leu 1Mn ten (10) days i~ advancs of the expiration of each poticy, fo d~- IivN fo wid MORTGAGEE a renewal the~eof, to9ethe~ with a receipt fo~ the premium of tvch renewal; and there shall be no f~re w windstam insur~~ce placed on ~ny of aaid buildings, any interest tixrein or part thereof, unleu in tFa form and with 1hs loss payabla as afores~id; ~nd in the event any tum of maney becwnes payable under such policy o? policies said MORTGAGEE shall haw tM option to receive a~x! apply Ihe same on stcounl of ths indebted- nou secu~ed he~eby d to permit said MORTGAGORS ro rKeive snd us~ it or any pan thereof fw othcr purposes, w~tho~t rh~~eo~ waiving or ~mpair inp any epu~ty, lien oa right ur~dc~ a by vi~tus of this mo: tg~g~; ~nd in the tvent sa~d MORTGAGORS shall (a any reason fail to keep the said p?emises w Insured, a fai) to deliver promptly a~y of said policies of insurance fo said MORTGAGEE, or tail promptly to pay futly any prem;um therefor or in any r~spect fail to perfam, discharge, execute, eiiect, complete, compty with and ab+d~ by rhi~ covenant, or any part hereof, said MORIGAGEE may plac~ ~nd pay fw suth insurants o~ ~~y parf thtrtof without waivinq p affectinp any option, lien, eqvity, or right ~nder or by virtw o~ this Mortya~e, a~d the full amount of each and eve~y such payment shall be imrnediately dve and payabk and shall bear interes~ irom the date thereof until paid a1 ths rate ol ~ nine per cenrvm per annum and to~ether wirh such iMerest thall be secured by the lien oi this mortg~ge. 1. To permil, commit or suffer ~o waste, Impairment op deterioration of said property or a~y part thereof. ; 5. To pay all aod singular the coats, tha?ges and expenses, iacludirg a reasonable attwney i fee and costi of abstracts of title, incurred w paid at ~ ~ny time by said MORIGAGfE, because or in the event of the failure o0 1he part of the said MORTGAGOR fo duly, promptly and fully perfpm, d+'xhsrgs, execu~e, affen, complete, compty with and ab~de by each and evcry thc stipulations, agreements, conditions, and covenants of sa~d promiuory note and this mortgage any or ei~F?er, snd sa~d costs, charges and aapenses, exh and every, ahall be immediately due and payable; whether w not ~here be not;ce do- mand, attempt to co!!cd or :uit pend~ng; and the fv!! amourtt of cach and eYCry s~ch payment shall bear interest from the date thereof until paid at the rate of ni~e per ceotum pe~ annum; and all said costs, charges and expenses intv~red or paid, together w~th suth interes~, ahall be securcd by the lien of tha mortp~ys. : 6. That (a) in the event of any breach of this Morfgage w default on the part of the MORTGAGpR, or (b) in the avent any of said sums of mo.~e~r I herein refe~red ro be not promp~ly anci fully paid withen thirty (30) days next after the same sevcrally become due and payable, witFwut demand or notice, r w(c) in the event each and every the stipulations, sgreements, conditions and coven~nri of sald promi:wry note and rh~s mortyags any q eirhe~ are ~01 f ~uly, Qromptly and fully perfwmed, d;uhsrged, executed, effected, compttted, complied with and ab~ded by, lhen in eiahe? or any iuch event the said a¢ E gtegate wm mentioned in said promisso?y note then remaininp unpaid, with iMerest accrued, and all moneys setured hereby, shall become due and pay~ ? abte forthwith, or tFxreaiter, at ti+e option of said 1NORTGAGEE, at fully and completely as if all of the said sums of money were originally stipulated ~ to be paid on such day, anything in said promissory oote or in this Mwtgage to the contrary notwithstanding; and thereupon w thereafter at the option of ~ said MORTGAGEE, without rwt'~ce a demand, suit at law w in equity, there(ore o~ thereaNtr begun, may be prosecured as if al! money~ secu?ed he~eby Aad matured pnor Io its institution. i 7. That in tFee eve~t that at the beginning of or at sny time pending any tuit upon this Mwfgage, a to fpreclose it, or to refotm it, p to Mfwp ~ paymeM of any claims hcreunder, said MORTGAGEE sl+all apply to the Co~r1 havirg jvrisdiction thereof for the appointment of a RKtiver, such Cowt s~wfl fathwith appo;nt a receiver of said mortgaged prope?ty all and sirgular, intludmg all and singular the income, profits, issues and reve~ues from whatever ~ source derived, each and every of which, it being expreuly understood, is hereby mortgaged as if speciiically ut fwth a~d described ie the yrantiny and habendum clauscs hereof, and such Receiver shafl have alf the broad and effective funcl~ons and powers in anywise entrusted by a Cowt to a Reteivtr, end such sppointment shall be made by such Court as sn admittcd equity ar?d a rt+atter of absolute right to said MORTGAGEE, and withoul reference ro the ~ adequaty w inadequaty of the value of the property mwtgaged or to the sotvency or insolvency o( said M{ORTGAGOR or Ihe deftndants, and tlwt such ~ renu, protits, income, issues and revenues shall be aFplied by such Receiver according to the lie~ o~ equity of said MORTGAGEE snd the practice of such ~ Court. 8. To duly, promptiy and fully per{orm, d~scharge~, execute, effect, complete, comply wilh and abide by each and every the sfiputations, agreemenri, ? conditions and coveoanrs In sa~d prom;ssory nott and this morigage set fwth. 9. That in the event the ownership of the mortgaged premisea, w any part thereof, becomes vested in a penon othet than the MORTGAGOR, tM f ~ MORTGAGEE, iri s~ccessws snd sssigrn, msy, without notice to the MORTGAOR, deal with such sutcessor or sutcessor in inttrest with reference to this mwtgage and the debt hereby secured in the same manner as with Mortgagw without in ~ny way vitiati~g w dixharging the Mortgagori liability hc~e• under or upw~ the debr hereby secured. No sale of fhe premises hereby mortgsged and no ferbearsnte on the part of the MORTGAGEE w its sutcesson or assigns and no extension of the time fw tix payment of the debt hercby secured 9iven by the MORTGAGEE or its successas or au;gns, ,haN uperate ro releax, d~scharge, medify thange or affect the wiginal liab~l~ty of the MORTGAGOR herein, eithe+ in whole or in part. 10. It is apecifically agreed that time is of the essence of this contract and that no waiver of any obtigatian hereuntkr or of the obl'~gation se- ; cvred hereby shaU at any time thereafter be held to be a waivet of the terms hereof w o( the instrument secured herby. j 11. In add~tion to the forego:ng rrunthty paymenh of princ'pal and i~teresf reqvired by the promiuory npte secured hereby, mwtgagpr cpvenants . and agrees to pay to mortgagee with each monthly payment an additional sum estimated by mwtgagee to be equal to 1% 12 of the annual cost of the follow- ing: A-All real property taxes levied or assessed against ihe above described reaf estela B-Prem~ums on fire and windstorm irtsurance as he~ein requ;red to be ca~ried on the improvements situate on the above described premises. C-Premiums on such mbrtgage guaranry insurance as morigagee shall from time to time deem fit to carry on the loan src.vr~ hereby. j Mortgagee shail irom time to time notify mortgagor in writing of the amount due and payable hercunder and svch sum shall thereuppi be dve and payabte on t6e due date of the next monthly payment and each suctessive month thereafter unt71 mortgagee shall notefy mortgagor of a change in suth ~ amount. Such sums shail be applied by mortgagee toward tFre payment of real property taxes, insurance prem:ums, and mwtgage guara~ty insurance z prerniums. IN WITNESS 1MHERfOF, rhe said MORTGAGOR has he~eunto set his hand and sea) 1he day and ye fi atoresaid. , Se~kd d ti in presence of: ~ n •n STATE OF RORIDA ~ counm oF _ ST . LUC IE ~ ' ~ gefore me personapy ~ppea~ed Theodore B. Russell ~ Margaret Rus se 11 hia wife, to me well kewwn snd knawn to me to bs ~ the individusls desuibed in snd who executed the foreyoiny instrwnent, and ~cicrwwledged before me that they e:ecutcd the wme fw the p~rposes rn~.e~~ exp~~ssed, nnd ~he ~a~d Margaret L. Russell wife of ths s+;d _ Theodore A Rucaal l ~pun ~ ate and at~ P?+y e:aaiuiatwn by me taken sepsrate and apan from her said h,nband, Klcnor,dedged ta and before me that she executed said imtry~ne;tl~att~t,~r~d.yo{v~. tarily and w~tho~t sny compulsion, constraint, appreMens~oe~, q~ feu of or from her said husbsnd. .•'1 - •,`c,`.; . } WITNESS my F»nd and officisl seal this I day qf_ . TuII - r--ar~ ~1.~ Q~?~~~~ . _ , Y , J . = e • _ ~ r` . ~ /~y,~ 1.~7; ~ . , P+jWic ;tn md ior 1M ~lsi¢"o~ fi"oiida~~f ~ i ' ~ _ , - Return Ta ' / 'FILEO I~I~~~~~ l~~i~j ~ ~ . ` Firsf Federal Savings 3 Loan /lssociation ST. IUCIE COUNTY. ~Lk: ~ - c!r, • ` Oi Fort Vierta R~~.O~~ .rr_ C~' . . p p V€R1fIED ` O ..1ir:i • . fwt Pierce. Flaida C]~~r] . . „ , t~ 1 ~ 'TO JUN 2 PM ~ : 2 ~ - This Instrument Prepared ByRichard K. Ka,yes 3 First Federai Savings b loan Association '`~jt~C.. ~ of Fort Pierce ~ Florida ROGER r~0{TRAS , CLERK CIRGUIT CO t ch~ed By 8~ - . so x 184 P~~7`gg ~ - . . _ .