HomeMy WebLinkAbout1400 9. To place and tontinuously keep on the bui'd~nge now or hereafter ~ituete on sa7d land and on all equip~ncnt and pe~sonally cove~ed by ~his mwtq•
sge, w+th ali p~emiums Ihercon pa~d in fuU, fire ins•~ranca in the ua~al s~aidard policy form, in a sum approved by thc MOR~GAGEE, and windatorm
insurance in the usual standard pol~cy for~n, in ~ sum approved by the MORTGAGEE, in such company or compen~es as rhe A10Ri(;AGEE may
d7rec~; and aN fire and w~nds~orm inswance policies on any of +~a~d b~,ild~ngs, any interee~ ihe~ein or pa.~ ~he~eof, in the aggrega~e s~m alo~esaid or
in excss~ thereof, thall contain the usval ~~andard matgagee cla~se or svch o~her clauss as the Mortpagee may requ~rQ, msAi~~g the ~oas under sa~d polh
c~es, each s~d avery, payable ro said MORtGAGEE as ~rs inrorest may ~ppear, a+x! each and eve?y such po~icy sha~l be prompny ass g~~ed a~~d deGvcred +o
any held by ss~d MORTGAGEE as (u~~her security to said mortgage debt, and, 001 tess than ten (10) days in ad~ance of the eapirat~on of each pot~cy, to de•
I~ver to t~id MORTGAGEE a renewal thereof, ~oyNhar with a receipt for the premium of s~ch renewai; anc there sl~alt iie no f~re or w,~=•istor~n insu~ance
pleted on any oi said buildinp~, ~ny inrerest therein w pa~t tharcol, unles~ in tha fonn and with the loss payable as aioresaid; a~d in the evcnt sny sum
of money betomes payable vr+de~ wch poli;y o~ policies said MORiGAGEE shall have ?he opt~on 1o receive and apply the sa~ne on accoum of the indebfrd•
ness iecwed hereby or to permit said MORTGAGORS to receive end ufe it ot any par? the:eof ?or ouu•r purF.osi~s, ~.~tiw~t th u~ w.:~~~ ~3 cr ~•„p„r-
ing any equ~ty, lien pr ~ight under or by virwe oi this mo:!gage; and in the event said MORiGAGORS ahall fw any rcaion fail ro keep the sa~d premisrs so
inawrd, or 1ai1 lo delive~ prompily any of said po6cies ot insurance to said MOQiGAGEE, or (ail promptty to pay l~lty any pre~~~~wn thcrelor o~ in eny
iesprcl feil to per(wm, d~scharge, exetute, effect, completo, comply with and abioe by this tovenant, or any part hzreof, sa~d MGRiGAGEE may place a~~tl '
pey for such insuranc~ or any part thereof w~thou~ wa~ving a•ffecting any opt~on, I;en, equ~ty, or r~ght under or b~ v~rtue of this htor~yage, and ~he
full ~~nount of each and avery such payment shall be immediately due and paysble and shall bear inte~est lrom Ihe dare thcreoi until pa~tf at ~he rate ol
nlne per centum p~r annum and to~Nher with wch inrere~t shali tx secured by the lien of this mortgage.
4. To permit, tommit o~ auf(er no waste, impairment ot deterioratia, of said ptoperty o? any part thereo(.
5. To pay all snd singul~r ths tosts, tMrgei a~d expenxea, includirg a reaso~ab~e attw~ey's fee a~d costs of abstracts oi t+r!e, incurred or pa~d at
any time by said MORTGAG.E, btcause o~ in the event of the failure on the pa~l of the said MORTGAGOR to duly, promptly and fully p~r(o~m, dncnarqe.
eaecute, effed, tomplete, ~~p~y W,th and ab:de by each and eve~y the e~ipulahons, ag~rementa, conditioos, and covcnanrs of sa~d pron,Issory note e~d ~h~s
n,ortgage any or e~ther, and sa~d costs, ~argts and expenses, eaci~ and eve~y, sheN be immed~ately due artd payable; whe~her or not rhere be no~~ce d>
mand, atte~npt to collett or svit pend~ng; and Ihe tull amouM of each and every such paymero thall bea. interest from the date thereol un~il pa~d at ~he
.nte o; n,~~ ~r cent~m per annum; and aIl said coata, cha~gci and ex~xnses incurr~ a paid, together w.th such interrst, ~hatl be secured by the ~~en of th~~
mortyage.
6. Ths1 (a) in the eve~f of any b~each of this Mortgage or default on the parl of the hlORTGAGCR, or (b) in the event an,y o~ sa:d sums of money
he.ein refened to be nut promptly and fufiy paid within th~rty (30) days neat afrr~ ~he same severa!ly become due and payeule, witho~t dcmend O~ not~ce,
or (c) in the event each and every the ~tipulat~ons, ag~eements, conda;ons and covenants of sa.d promissory ~o~e arnl ~h,s nwrtyage a~y er e~eher are nm
~uly, promptly a~d ivlly perfwmed, d~uharged, execu~ed, eSfeatt3, compteted, compGed w;th and ab~ded `iy, then in enher a any such event the se~d ag
gregate sum ment;oncd in sa~d p~omisswy nore then remaining unpa~d, wi~h ime~asr accrued, and a7t mo~evs secured he~eby, iha11 becuma dvr end pay
able forthwith, or thereafter, at the option of sa'~d MORTGAGEE, as fully and completefy as ii all of thr sa~d s~ms of rrwney were or~ginalty s~~pulatr~
to be pa:d on such dcy, anyth~ng in sa:d promissory note or in thi~ Mortgage to the CoNrary notwithstanding; and thereupon or Ihrrealtrr at the opt~on of
sa~d MORTGAGFE, w~rhovt norice or demend, suil at law a in eqvzty, the•tfore w thereaf~er begun, may be prosecuted as if al! moneys secured hereby
nad meWred pnw ro~ts instituteoo.
7. That in the event that at the beginn;ng o( w at any /ime pending any sult upon this Mortgage, or to fo~eclose it, or to reform if, or to enforce
~ayment of sny daims her~unde~, said MORiGAGEE ahall apply to rhe Coo~f having ~ur~sd:nion thereof }or the appo~mmem of a Rece~~er, such Coun shail
Forrhwi~h appo~nt a rece~ver of said mortgaged proprrty all and singular, includ~ng ail and s~r.gular the ~ncome, prof~~s, issues a~d revenves from wheteYer
source derive~d, each and every of whKh, it be~ng expressty understood, is hereby merrgaged as if speuficaify set forrh and descr~bed in the g.anr;ng and
hatx,~dum dauses he~eof, and such Receiver shall have aU ~he broad and effective fvnct,ons and powers in anyw~se entrusted by a Co~~t to a Recr~ver, and
scch appointnent shall be made by such Court as an admittcd equity and a msfter of absolute rigM to said MORTGAGEE, and w~~haut refe~ence to the
e'equacy or inadequacy of the vatve of the p+op~,ry matgaged o~ 1o the 301YlMy or ~rtsolvency o1 sa~d MORiGAGOS or thr defendams, and that such
ren~s, profiu, incarre, iswes ar~d revenues shall be app6ed by such Raerver accordu,g to the lien w equ~ly o( uid MURTGAGEE and the procnce of such
Coutt.
8. To duty, p~omprly and fully p~r/arm, d~scharge, execute, effect, comple?e, comply w;th and abide by each and every the stipulations, agrcements,
cor,di~~ons and covenants m sa~d promiiswy note and ~h~s mortgage ser forth.
9. That in the event !he ownerahip of the mortgaged prcn,~ses, or any parl thereof, bccomes vested in s person other than thc MORTGAGOR, the
h'.ORTGAGEE, in successws and assigns, may, without notice to the AAORTGAOR, dea! w~th such successor p successor irt inteiest w;fh iefrrence to th~s
Rro~~~age and Ihe deut hereby secured in the same manner as with Mortgagor witho~t in any way vit~ating p d.scharging the fAorgagors' liabil~ty hera.
~nder w upon the debt hereby secured. No aale of the prem~ses hereby mortgaged snd no forbearance on the part of the /AORIGAGEE or its successors
or ass~gns and »o earrns~on of ihe time for the payment of the debt hereby secured given by the MORTGAGEf o~ ]ts svccessors or ass~gna, snalf operate
ro release, d~scharge, mod~fy change or aff~ct the ong~nal liab~l~ty of the M.ORiGAGpR here~n, either in whale or in part.
10. It is spec~(~caily eg~eed that time is of the essence of thi~ cont:act and that no waive~ of any obt~gation hereunder or oi the obligation se-
cured hereby sha}t at any time tbereafttr be helc{ to be a waiver oi the feims ber~of w of ,the i~strumeM sew.ed herby_
' 11. In add r;n^. ro the for¢go ng munth!y payments of princ"pal and in+erest reqvired by rhe prom ssory no~e securc't~ hereby, mortya~or covenants
and agt~S ~O pay !o ~*:ortgagee with each mon+h~y pay~ne~t an add~rional wm e:t~mared by mo~rgagee to bE equal to 1 12 of tite annual cos~ of the fol{ow-
ing:
A-AI: rca; property taxet leveed or assessed aga;~st the above descri5ed real esrate.
B- F~~~~„.., ,•s on fne and winds~orm insurar.ce as here~n r~qu;red ro be carned on the improvements sauate on thr above desv~bed premises.
t-Premlu~ns o~ such mortgage guaranty ir.suror,~e as mo*~gagee shail from t me to ti~ne deem lif lo carry on the ioan secured hereby.
Mortg~gee sha l frcm ti,tie to time not~fy monyagor m wrinng of the amount due and payab!e hereundrr and such sv~n shail thcrcupon be dve and
: ayable on the dve da~e of the ~eat month:y payment and each suctessive month thereaher uctil mortgagee sha11 not:fy mortgegor of a change in such
a^ount. Such sums sFa!I be appiied by mortgagee toward the payment of real propert~ taxes, i~suran~e prem;~ms, and mortgage gua~anty insurance
c~emiums. -
IN \YITNE~S WHER f. the said RTGAGOR h~s hereunto set his hand and seal the day and year first aforesaid. •
~gned. Seated a eli i pr
IZ' -
~ (Seal)
(Sea()
t$eal)
(Seal)
S1ATE OF FIORIDA ~
S2. WCIB
COL~NTY OF
Betpe mt penonafiy appeared Miehael ?od Addison ~
to me well known nnd k~own to me to be
fhe individwt~ desuibed in and who eaecuted tF~e foregang in:Irumenr, and acknowtedged before me that /hej execured the same for the p~rposes
rherei~ expressed. ~tASH~fIh[
~4.
WtifYf55 my hand snd offici~l seal this-. ~/Z~
day of OCtObfZ' ,
• D. )9 7~
i ~ ' ' ' . _
~ 1
FILED AND RE ' ' ~ ' ~
IE COUN7Y. ~LA. No?ary PubGc ,,,d fa, ~ a~;d; u,~.
ST. LUC e++y co.nm~is~cx~ exP~?«:- . r
Return To: ~ t r ~ ~'1 f' , . Sl 9, 'I~
11d1+~ ~7~?!
Frrst Fedcri! $avingi ~ loan Asaociabon ~n~~y^'~ ~
Qf For? P.erce. ~)~~'~r~~ ~ (iw
b'ai; J
Fort P,rrce ftc~~d~ • ~
AM I 1.
•70 OCT 5
~ t ; ~'~-L L a'~~ t`. '
,
~ ~4 ~t+N1;'
This Instrument Prepared By J. D."~f2~~t y'~Q •
First Federal Sav~ngs ~ loan Association ~LERK CIRCU~ COURT
' of Fort Pierce ~ Rlorida ~ i
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Checked By _ BOOK PA~1400 {
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