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HomeMy WebLinkAbout2573 3. To ptace and continuously keep on the bu~'d~ngs no~v or hereafrer ~ituate on said land and on att eq~iprnent and personally covered by this ma ege, with all premiums ihereon pa~d m full, f~re i~~suranc~ ~n ~hc vwal staixlard pohcy iorm, in a swi approvcd by the MORiGAGEE, and winds~o insu~ante in ?he usual atandard pol.cy fo~m, in a sum approved by ~he MORiGAGEE, in s~~ch compa~y or tanpanies a~ the N10RTGAGEE m dhect; and all fire and w~ndstorm inswance pofc~es on any of sa~d iouitd~ngs, any in?creat therein ur pa~t thereof, in Ihe aggreg~te wm ~fwesaid in excess Ihereof, shall contain tfie usual standard morrgagee clause or such o~he~ t~a~~se aa the Mwtgagee may requ~rs, makinq Ihe loss urxlrr sa~d po cies, each and eve?y, payab!e to said A10RTGAGEE as ~~s interrst may appear, end each and evr~y such po!~cy shall be promptly ass gned and delrvered ~ any held 6y said b10RIGAGEE as (ur~her security to said ~no~iyagu debt, and, not Iess ihan ten (10) days in adva~ue of the expiration of eath polity, 1o d~ liver to said MORtGAGEE a renewal thereof, toge~her whh a recript for the premium o( such renewa~; and there shall De ~+o iire or wi~xlstorm insuranc placed on any of sa~d buildings, any interest therzin or pa~t thereoi, unlcss in the f~nn and w~eh the loss payable as a(oresaid; and in the event any sun of money becomes payable under such policy or policies said MORTGAGEE shall have the opr~on ro receiva and apply Ihe same on accouM o( the indebted nesa securrd he.eby or to permit said MORTGAGORS ro recN~ve and use it a any pa+t the~e~f tor o;L~r p~r~+oscs: vi~~ho~t the.~u~ wa~v~:,g er ~~~~pd~r ing any equity, lien w right under or by virtue of ~his mo::gage; and in the evenl ia~d MJRTGAGORS shall !a eny rrason fail to keep the said premisrs so insured, or fail to del:ver prompfly any of said pol~ci~s of ins~rance Ia said MORiGAGEE, er iail promptly vo pay fu11y any pren,ium therefor w in a~y resped fail to pe+form, d~scharge, exrcute, eifect, con~~:letr, ce:rply wi~h and abide by this covenan~, ar any parl hereof, said MORT(iAGEE may place a~A pay tor suth insuran:e or any part Ihereof without waiving or af(ectiny any opt~on, lien, cqu+iy, or right under or by virtue o1 this Mo.tgage, and ~he full amount of each and e~ery such payment shall be ~~nmed~aeely due and payable and sha~l ltia+ inturest from the date thereoi until paid a1 the rate ot nlne pe? centum per annum and to~rthrr with suc6 inte:cs~ sha~~ ~ s~~cured by the lien of th~s mortgage. 4. To permit, commit or sutter no waste, impairment or deterioratiun of said property or any parf thereaf. S_ To pay all and iingular the costs, charges and expenses, includir~g a reasonable attorney's iee and costs of abslracts of title, incurred or paid a1 any time by said MORTGAGfE, because or in the event of the failure o~ the part of the said MORiGAGOR to duly, promptly and f~lly pe~fam, d~xharge. execute, effed, comptete, tomply w~~h and ab:de by each and every the ~tip~ia~~ons, agreements, conditions, end covenanrs of said promisso?y note and thii nortgage any w either, and sa:d costs, charges and expensas, each and every. shall be immediately due and ~+ayabie; whether q not there be notice dr mand, attempt to collect or suit pend~n9; and th~ full a~nounf of each a~xl every suth paymeN shall bear interest from ~he date thereof until paid al the r,,te o; nfne per centum per annurn; anC ali said costs, cha~ges and expenses incurred or paid, ~o9e~her w~th such interest, shall be secu~ed by the lien o! tlw mortgage. b. That (a) in the event of any breach of this Mortgage or default on Ihs part of !he MOR7GAGOR, cr (b) in the eve~f any of sa~d iums of money herein referred to be not prwnptly and fully paid wirhin th~rty (30) days nert aircr the same severa:iy L~ecome due and payable, wi~hout dr~nand a notice. or (c) in the eveM each and every the stipu~ations, agreements, mnd~+ions and covenants of sa:d promissay note and th~s mortgage aoy or either are oot ~uly, prompNy and fully performed, d:scharged, executed, effected: completed, compGed with and abided Sy, then in either w arty such event Ihe sald aQ gregate sum mentioned in said promiuory nete then remain;ng unpa~d, with mterest accrued, and att m.oneys secured hertby, shall become due and pay- abie forthwith, or thereaiter, at rhe opt~on of sa~d h10RiGAGEE, as fully and comp!e~elv as il atl of t1~2 said suma oi money were aiqinally ttiputated ro be pa~d o~ such day, anything in sa.d protmssory note or in fhi: Mortgage to the contrary norwirhstandi~~g; a~d thereupon or thereafter a~ tMe option of sc~d MORTGAGEE, without notice or demand, suit at law or in equity, ihereiore w thereaiter begun, may bt prosecuted as if all moneys secured hereby r,ad matured pnw to ds institut~an. 7. That in the event that at the beginn~ng of or at any time pending any su~t upon this Mo~tgage, or to fweclose it, or to reform it, or to enforce p~yment of any daims hereunder, said MORTGAGEE shall apply fo the Cour~ havnig ~urisd~crio~ thereof ia=. the appomtment of a Receive~, such Carr1 shail Fcrthwith appoiM a receiver of said mortgaged property aI1 and singular, indud:ng all and s~ngu~ar the ~ncome, profits, issves and revenves from wha?evt? source derived, each and every of wh~ch, N being expressty undrntood, ~s hereby mo~~gaged as if spet~ficai'ry set forth and dexribed in the graroing and habendum tlauses hereof, and suth Reteiver shall have all the broad and effett~ve funct.ons and po~vers in anyw~se e~tr~sted by a Court to a Receiver, and s.,ch appointment shail be made by s~ch Court as a~ ad nitted equity and a rr.a!ter of abso:utr ngM to wid MORTGAGEE, and without refereote to the adequacy a inadequacy of the value of the propeny mortgaged or ro rhe savency or inso;vency o( sa~d MORiGAGOR a the defendants, and thaf such rents, proiits, into.ne, issues and rever.ues ahall 6? ap~i~ed by such Receiver accord,ng to the lien or equity of said MORTGAGEE and the practite of suth Coutt. 8. To duly, promptly and lully perform, discharge, execute, effect, compiete, canply w~th and abide by each and every the stipulafions, agrremenls, co~ditions and covenants in sa~d promissory note and th:s mortgage set forth. 9. That in the eveM thr owreership of the mortgaged prem~sez, or any part thereof, becomes vested in a person other than the MORTGAGpA, the !l.ORTGAGEE, its successo~s and ass~gns, may, withou~ no!~ce to rhe MORTGAOR, deal with svch successor o+ successw in interest with reference fo *his mo~tgage and the debt hereby secured in the same ma~~ner as w~th hlortgagor w~thout in any way vit~ating w d~scharging the Mortgagors' liabitity herr under w upon the debt hereby secu~ed. No sa~e of fhe Frem~ses hereby mortgaged and no forbearance on the part of the MORTGAGEE w its successors cr assigns and no exre~s~on of rhe time for the payment of the deb+ hereby secured given by the H+ORTGAGEE or its successors w assigns, slull eperare to release, d~scharge, modify cnange or affect the orig,nal liau.i~ty of the MORiGAGOR herein, either in wAOle or in pat. 10. It is spec:ficalfy agreed that time is of the esse~ce of this contraU and thal no waiver of any obligation hereunoer w of tht obl:gation it cured Fxreby shali at any time thereafter be held to be a wai+er of the terms hereof w of the instrument secured herby. I1. In add.~~o~ to the foregolsg mo~th!y paym~nrs of princ pa~ and interest requ~ced by the prom~ssery no!e secured hereby, mortgagar covenan~s +^~d agrres to pay to mortgagee ~n;th each mor.~hiy pay~aent an add~nonal sum esr.mated by mortgagee to be equal to 1/ 12 of the annual cost of the folfow- ~~'g~ A-All real ~operty taxes lev:ed or assesseci ~ga~•~st the above desaibed real estare. B- P~=mwms on fne and w~ndsto:m ~nsurarce as i:erc~n req,,;red to be carned on tha ~mprovements s:tuate o~ the above d:scribed p+emises_ ~-Prem,ums on s~ch mong~ye gua•anty lnsura~.ce as mortga~ee sha!! frcm time to time deem fit to carry on the loan secured hereby. Mo~tgagee shall from nnie to time notify me+tgagor ~n writ~ng of the an~ov~t due and payabte herEUndrr snd wch sum shall thereupon be dve ar~d :~~ab!e o~ the d~e da+e oi ihe ~~ert nionth:~ pay~n~rn and each s~ccess~ve monrn thereafter uctii mortgagee shall not~fy morrgagor of a change in such ; a~ ount. Such suma sFa:l be app'ied by mortgag-:e toward the ;uy~e^t of real property taxes, ins~rance prem:ums, and mwtgage gua.anty msursnce f ;~~e~niums. ~ IN WITNESS :VHEREOF, the sa~d MORTGAG~R has herev~to set his ha~id and seaf the day a:~d ear first afore~. . g , Sealed and de1' red in the presence of: ~ ! _ G'~ .n ~ _ ' _ ~ So hu P tersen J . - - - 'ti°.cr`..' n _ Ell ~tassen ~~,q , TE OF FIORIDA SS. COUNTY OF SLs Li1C1@ ~ Before me personaily appeared $ODt1L18 PetersQn, .~1 . E11Y Patersen his wife, to me weii k~own and I~Q n b me ro ~ rhe individueis described in and who executed the fwegoing instrumem, and acknow:edged befwe me that they execute¢ i t~ purposss ~~:~!~~._~f~,i. • rhere~n expressed. And the sa~d___ EZIV~gL~tfell ~ i ~ _ ~ n ..~.3 . - • _ . ~ . : ~ w;fe of the sa~d S~phlis Petersen~ .1Z - '''-~=F ~'i.~P~nU Md prtv~b e.am~nat~on by me taicen sepa.ate and apart from her said h~sband, acknowledged to and betore me 1hd she exet~t~d,~~iyltiihiMl lt~r and vO~W? ~ rar,ty end w~thout any compuls~on, cens!re:^!, arasehe~s:o~, w fear of or from her seid husbend. . r/~ , P ~t r_ ~ • ,t WITNE55 my hand and offiual seal this_ day of_ r. . •~A. 0 19~ _ J • . _ - ~ Q L t , ~r2~ ~ ~ - --r ~ Notary Pubt~c in ~nd -l0`~ al~ ot ~id~~ ft~~y~ ~ 16~4 My Co miuion ~xpitRl!. ' Rerum Ta_ 2 jt~~~4'~(~f"pl fIORIDA tt UIRC~E a F~rst Federal Saving~ 3 loan Assoc~a>>on ~'•~'«~~k~~~ t.X~'iRES ;EFT. 25, 1975 ~ of F~~t P~-te fIlEO AN'~ RfCOR0E0 ~N Br A~n01~se gank:rt ~nu;ryr~ ~;p, ~ Sj lUCtf COUMTY flA. _ FOIf P~c•C!, f:J~.(~d ~ RBCER FOITRAS ~ CLERK CtRCUIt COURT s . R~e.~ Qsi F,~f~EO c~ . t This Instrument Prepared By John W. C~]'~ ~ g'r P~ ~ First Federal Savings 8 loan Associalion ~ of Fort Pierce ~ Rlorida Checked BY - _ 0 R eQ~K195 ~E2571 - ~ - 4~~ ~ rY = - ~ . ~ .