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HomeMy WebLinkAbout0051 i f s' ~ F To plac~ ~nd conlinuously kNp on tM b~iidi~ e?ow ar MnaftN utwt~ on ~aid I~nd and on all cquipm~nt and paw~aUy covend by thFs eno~t¢ p~. with all pNnivncs tha~oe~ pa~d i~ futb fu~ insur~nt~ in ~!w viwl ~tud+?d pol;cy fwm, in • ium approv~d by tM MORTGAGEE, ~nd wind~twm , : tn~wanc~ M+ th~ uiwl ~ue?d~rd pofKy (pm, in • sum approv~d by tM MQRTGAGEE, ie wch company o~ companies a tM MORTGAGEE may 3 dinctt +nd all fir~ aod wind~torm in~wance policies on ~ny of aid buiWinp~, ~fy inM~OSf fhtrfi~ O~ pirt fAdeO~, i~ ths appreg+q wm af«~s~id or ' ~ tn txats the~wf, thaN contatn tM vswl standud mor~9ayee clavs~ o? such Wha claus~ ~s th~ Matqay~e may ~equw~. makinp the lost undN sa~d po1F cip, each ~nd ~w?y. p+y+bl~ ro ~aid MORTGAGEE as in intere~t may ~pp~ar. and each ~r~d ~very s~ch policy ~MII b~ promptly ~u:yned and delivKed ~o ~ny MW by s+id MORiGAGEE ~s fv~ther secvrity to seid mwt9aQ~ debt, a,~d, ~a bu ~han ten l10) days in +dvance of ~he expiration o( each poliq, ~o dr liwr ro taid MORTGAGEE a rtnsw~l thertof, topttiw~ with a nceipt fo? the premiwn of avch ~snewal; and thsre ~hall be no f~re or winditorm insw~nc~ plapd on ~ny of said buildinps, any inurcat ther~in or p~rt thereof, v~leu in tM form ~nd with IM bu payabl~ as afaresaid; ~nd i~ th~ ovMt any tYT of ma~sy becomes payaWe vnder such polky a policas said MORTGAGEE shall I+iw th~ optwn to receive and apply the same on accouM o( the indebted~ ~ss sacur~d hsreby a ro permit said MORTGAGORS ro ~eceiw ind us~ it a any pa?f tFkreof fo. other purposes. w~~hout ~he.Eb~ wai~ing o. ~mpdir- inp ~ny p~ity. lien w rigAt under or by vulva of this mortyape; and 1~ t}~ tvenf sa~d MORTGAGORS sMll for any ~eason fail to keep the said premises w ~ G?i~~ed, or fail b deliver promptly any of said policies of irou~sr?c~ to said MORTGAGEE, a fail ptomptly to p~y fully any premium therefw p in ~ny ~ respact tail ro perform, d~xharpe, execute, ~ffect, complete, comply with ud ~bide by th~s covenant, a sny par? hereof, said MORTGAGEE may plsce and paY for such inwrance o~ iny p+rt thtreof without waivirg a ~ff~ctinq sny optiee, lien. pvity. or ~~gM under or by virtue of this Mortgage. and tht ` fvll amovnt of eath and ewry such paymeM sl»II be immediately dw ~nd p~y~ble ~nd shall besr interest from ths date thereof until paid at ths ~ate of t n~ne p~r centum pe~ annum and togerher wirh such i~tc.at s}w!1 bs xcured by the lien of thia mat9age. ; 1, To permit, canmit or sutfer ~o wasts, impakment or deterio~stion of s~id property w ~ny pan thereof. ' S. To psy ill and singulx the cosri, charges and expe~ses, includinq a reasonsble ~ttwney's fee snd cos~s of abstrads of title, incurred w paid at ~ any Yune by said 1NORTGAGfE, becauss or in the event of the failure on the psrt of Ihe srid MORTGAGOR to duly, prompNy and fvUy perfwm, dixhargq } execute, efiect, compkte, comply with and ab;de by each snd every the itipulations, agreements, condifions, snd covenants of said promissory note and this ~ mat9ape any w eithc~, and said cosri, charges and ezpenses, each and every, shall be immediately due and payable: whe~F~er or rwt there be r+o~ice da m~nd, ~ttempt to oolkKt w wit pend~ngj and the full amou~t of e+ch ~nd every wch paymen3 s!?stl bear ioterest from the date tF?ereof until paid ~t the ~ rate of nine per ccntum per annum; and all said costs, char9ea and expenses incurred a paid, together with such intu~Kt, shal! be secured by the lie~ of tha mor~yspe• 6. Thst (a) in the went of any breach o[ this Mort9aye w defaull on the pa~t of the MORTGAGOR, a(b) in the event any of said sums of rno~ey here7n rofevred to be not promp~ly and fully paid wilhin thirty (30) days next afte? the same sevc?ally become due and payable, without demand or notice, or in the evem each and evcry the stiputaliora„ sgreeme.+ts, concti~iau and covensnn of sa~d promiuory note and th~s mutgage any o~ either a~e not iuly, p?omptly and fully pe~fwmed, disch~rged, executed, effecfed, completed, complied wifh and abided by, then in either o~ any such event tM said a~ gregate wm mentioned in said promissory note then remaininy v~paid, with interesl acuued, and atl moneys secured hereby, shall become dw and pay- . able fathwith, or thereafter, at the option of said MORTGAGEE,.u fully and completely as ii all of the said wms of money were wiginally stipulated to be psid on such day, anything in said prom~ssory ~?ote a in this Mwtp~ge to the co~trory notwithstanding; and thereupon a tl~ereafter a~ the optia? of ssid MORTGAGEE, without notice w demand, suit at law or in equity, therefore or thereaf?er beg~n,, may be pr~osecuted as if all moneys secured hereby had mahrred pr~or to its inttirution. . . 7. Thaf in the event that at the beginnirg of or at any time pendirg sny wit upon this AM:rtgage, w to fweclose it, w to refwm it, or to enforp payment of any claims hereunder, said MORTGAGEE shsll apply to the Court having jurisdKtion thereof for the appointment of a Receiver, such Court :hal) futhwith appoint a receiver of wid morlgaged prope~fy all snd singular, includ~ng atl a~d singvlu the income, profits, iuues and revenves from whatever source derived. esch and every of which, it being expressly underi~ood, is hereby mwtgs9ed u if speci(iw~ly set fath and desuibed in the pranting a~d ' habendwn dauses hereof, and such Receiver sF?all hare all the broad and effetrive f~nctions snd powe~s in anywise entrusted by a Court to a Receive~, and such sppointment shall be made by such Court as an admitted equity and a matter of absolute right ro s~id MORTGAGEE, and without referec~ce ro ths adequacy a insdeq~acy of the wlue of the property mortgaged w to the sonrency or insolvency of aaid MORiGAGOR a the deFendann, and rhat s+?ch renn, profin, income, issues ar~d revrnuss shsll be applied by suc!? Receiver accwd~ng to the tien or eqviry of sa~d MORTGAGEE and the practice of such Court. 8. To dvly, promptly and fully pe~form, dixharge, executa, effect, eomplete, comply w~th •nd abide by esch and every tfa stipulations, agreemenn, conditions and covensms in said promissory rwte and this mwtgage set forth. 9. That in the event the ownership of the mortgaged premises, a any part thereof, becomes vested in a person othe? than the MORTGAGOR, th~ MORTGAGEE, its auccessws ~nd auigns, may, without notice to the MORTGAOR, deal with such succeswr a successor in interest with reference to this mortpage and the debt hereby secured in the ssme manner as with Mortgagw w+tho~t in ~ny way vitiating u discharging the Nbrtgagors' li~bility Ixra ' under w upon the debt hereby secwed. No :s!~ of the premises hereby mortgaged and no fwbearance on the part of the MORTGAGEE a its successors or sssg~n and no extensiw~ of the time for the payment of the debt hereby secured yiven by the AAORiGAGEE w its succeuon or auigns, ,hall operat~ ro rekase, d~schsrge, modify cMnge or affect the uginal liability of the MORTGAGOR herein, either in whok w in put. 10. It is specifically agreed thst time is of the essence of this contract and that np wa'~ver of sny obl'gaiwn herew~der w of the obliyation se- cured hereby shsll at any time thereafte? be hetd ta be a waiver of the tem~s hereof or of the instrument secured herby. . _ 11. In addition to the forego:~g monthly paYments of prir?c'pal and interest required by tht promiuory note-secwed hereby. moitgagor covenanri i " and agrees to pay to mortgagee wirh each monthly payr.icm an addirional sum estima?ed by mortgsgee to be equat to 1/12 of fhe annual cost of the follow- ing: . A-All real property taxes kvied or assessed against the above described real estata ~ B-Premiums on fire and wi~dsform insurance az herein requ~red to be carried on the irrsprovements situate on the above described prerti~aes. C-Piemiums on such mortgage guaranty insurance as mortgagee shsll from time to time deem fit to prry on the bsn secv~ed hereby. Mortgagee shall from time to time notify mortgagor in writing of the ama?nt due apd p~yabk htrevnder and such sum shall th_weupon be due and payabk on the due date of-the ne:t monthiy paymem and each successive mo~th thereaher until mortgagee shall notify mortgagor of a thange in wch ~ amrwnt. Such sums shall be applied by mortgagee toward the payment of real property faxes, insunnce prem:ums, and mortgage guaranty iniurance ~ premiums. . • • IN WITNESS WHEREOF, the said MORTGAGOR has hereunto sf?'hi~Eynd sea! ti~e day a»d year fint aforesaid. ~ LC~~ AI~ RECO'RDE~' sgned. seakd a de~~ red ~n the paence of: ST. LU(,`lE -COI~NTY ~ ~ ~ ~F ~e~o vERr ~ ~ , 1942: ,i ~ ' ~ ~ ; l0 JUN 8~!~ ; Q ~ ~ STATE OF FIORIDA ~ ~ ST. WCIE courmr oF t~OGEr~ F . . ~ ~ Before me penonally appeared ~ ' ~ Wanda S. Elgin ~ h;, W;i~, to me well known and known to me to bs t the indiriduab described in and who executed the foreyoirg instrwnent, and ~cknowkdged befwe rn~ that they executed the same fw the purpo:es ~,~M e7~,~. ~ r~ Wanda S. Elgin ~fe of rhe sa~d Fr an kZ i n L. E 1 C71 rt upon a sepsrate and priwts examination by me taken sepn?ate and apaA from her said Iwsband, edcrawledged to and befwe me that she execvted said instrument freely and vol~m- ' qrily and without any compulia~, constraint, appre an, or fear of w from hes ssid husba~d. ~ WITNESS my hand snd official sesl ih' day of Jun A. D. 1970 otary Public in and fw the St~te of Flwida at luyo ~ My Coarnistio+l expires: R~n,.~ r~: t+~~..... ~a~tiC? 5T~1E Of ri~~,at e~ uR;,t Fint Federal Savings a loan As:ociaYan ~~:I~lif~ N4(SStON ~ QCQ(RES SEPT. 23, 1973 Of Fw/ Pierce. ~ . ` ~ j~ ~ ~ a~~ L Fo?t Pierce, Florida ~ . i ~ ~ f. • - ~ - - This Instrument Prepared By John W. Col l ins t . j.., First Federal Savings E~ loan Association : ~ , ; ~ 4% • of Fort Pierce , Florida ' .,:Q;. _ - ; • Chedced By ~ 80~ 5 5~~ ~ . . ~ _ _ ~ . _ _ _ _ _ _ ~ _ _ - - - - . . .