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HomeMy WebLinkAbout1198 3. To place a~d conrinuo~s~y ke~p on the bu~:dings now a here~fre~ fitwte on ss~d land and on a~i cquipmeM ~nd pena+~lty covered by ~hii ma age, with •II premiums the~eon pa•d in futl, f+re i~surance ~n ~he us~al ~~ands~d pol~cy form, in • aum app~oved by ~he MUR~vAGEE, and w~nds~u ~nsurance in the uswl s+andard pol•cy fam, in s sum approvcd by the MORIGAGEE, in su<h con+psny o~ companies as ihe 610RTGAGEE m d~recr, and all fire and w~ndsrorm insu~ance pollcie~ on any of sa~d bu~ld,ngi, any interest therein or pa.l thereof, in the a99rega~e sum afo~csa~d ~ in exceu thercoi, shall con~ain the usual standard mwrgagee clause a ~uch o+he~ c~a~se •s the N1o~tgagee may req~~rs, making the toas unde~ e.+~d po c~es, each and every, payab!e to said MORTGAGEE at ~+s interest msy appra?, and each and every wch po:~cy shatl be p~omptty ess gned and de;~vered ~ eny Aetd by se~d MORIGAGiE as tw~he~ security ~o said ~~ortgage debt, and, not !ees than ten (10) daYS in advance ef ~he exp~~at~o~~ oi each pol~cy, to d~ I~ver to said MORiGAGEE a rene~al fhe~eof, togaher w~ih a rece~pt for the p~r~r,~um of such renewal; and ~hero shail be no i~re or .~1nds~o~~~ ~~wranc p!aced on any of sa~d building~, any interest ~here~n or part thereof, un!es~ in the form and wi~h the loss payable as aforesaid; and the event any sun of money becomes payable under suth policy a pol:c~es said MORTGAGEE shall have the opt~on to recaive and app:y the same on acco~n~ of the indzbted ness scc~red he~eby o~ to perm~t sa~d MORTGAGORS ~o reteive and use it or any par~ tAereof for a:n.~r pu~~. oirs, ~v~~ho~t ~h.••~ :,r ~7 c~ ~~~~p~~•~ ~ng ~ny equ~ry, lien o~ rght undrr or by virtue of this mor~gage; and in the event sa~d MORTGAGORS sha!1 for any reason fail fo keep ~he sa~d p~e~n~s- s so ;ns~~ed, w~fail to delive~ promp~ly any of said pokcies of insurance to se:d MORTGAGEE, ot fa~i promptfy to pay fulty any pre~~~wm therrfor o~ in snY +e~pect fail to perlorm, d~schargq eiec~ta, effect, complete, co:r.ply wi~h and ab~de by th~s tovenant, o~ any par? hrreof, sa~d MGRTv%+GEE may p~acr a~d pay (w such insurence or any part thereot w~thout waiv~ng w afFeainQ any opt~on, I~en, equ~iy, or r~ghf under or by v~rtve of ih~s Mo~+goge, and ~hE fuil amovnt of eac~ and every wch payment shail be immediately d~e and payable and shail bear interest from ~he date thereoi unt~l pa~d at the rare o~ ~,~~e ptr ceMUm per a~num and to~ethar with suth intcrest shai~ be srWred by the lien of this mottgage. To permit, commit or sufier no waste, impairrtxnt or deterioration of ia~d property or any parf thereof. S. To pay all and s~ngvtar the costs, charges and expenses, inciuding a reasonable attorney's fee and costs of abs~racts of title, incurred or paid at any time by aa~d MORTGAGfE, because or in thc event of the fa~lure o~ the pa~t of the said MORTGAGOR to duly, prwnptly and fu~ly perlam, d~scharge. execute, effea, compkte, comply w~th and ab:de by each and every iFx st~pulat;ons, agreemems, cond~uons, and covenants of sa~d pro+n~ssory note and ih~s .~~ortgage any or eiiher, arid sa:d costs, charges and e:penses, each and ev~ry, shat~ be immed~ately due and payable; whethe~ or not there be nonce d= n,and, attempt to co:lect w suit pend:ng; a~el ~he full amount oi each and e~e~y such payment ~hall bcar interest trom the data thereof unril paid et the ~.,fe o~ n~ne per cent~m per annu:n; ane.' all sa:d coats, chargea and ex~enses ;ncurred or paid, toge~her weh such interest, shall be secured by the lien of th~~ martgsge. b. That (a) i~ the event of any b~each of this Mor!gage or default on the part of ~he MORTGAGOR, or ;b) in the eve~t any of sa:d sums of money herein referred to be not promptly and fully paid with~n th~riy (30S days ncxt a'c•_r the same severa:ly became due and payable, wlthout demand or noncc. or (c) in the evem each and every the stiputations, agreements, condmons and covenanrs of aa d prom~ssorr note and th~s mortgage any or either are not iuly, p~omptly and fully performed, d.scharged, executed, effectcd, completed, comp:~ed wi~h and ahide.~ 5y, then in e~~Fier w any such event 1Ae sa~d ag ~regate sum mentioned in aa~d promisswy note then remaining ~npa~d, w~th interest accrued, and aN moneys secure~ hereby, shall become due and pay- ab e forthwith, or thereaffer, at fhe opt~on of sa~d MORTGAGEE, as fu~ty a~d comple~ely as +f all of the said s~ms of money were o: ~guully st~pu:ated ro be pa;d on such day, anything in sa.d p~o:n~sswy note or in this Mortgage to the con~~ary no~withstand:ng; and thereupon or thereafte~ at rhe opt~on of sa:d MORTGAGEE, withouf nor~ce a demand, suit at law or in eQu~fy, theretore or thereafter begun, may be prosecuted as if all moneys secured hereby n~d matured pnor to as inshtut~on. 7. That in the event that at the begin~ing of or ~t any time pending any suit upon this Mortgage, a to foreclose it, or to reform it, or to enforce ~ayment of eny ciaims he~~urxler, said MORTGAGEE shall app~y Io the Cowt having ~u~~sd~a~on thereof for the appomtment of a Receiver, such Gov~~ shail rcrthw~rh appoinl a receiver of said mort9aged proprrty ail and singular, includ~ng all and singular the income, prof~ts, iss~es and revenues from whate~er s: vrce derived, Oach and every of which, it being expressly u~dersrood, is hereby mortgaged as if spec~ficatly ut forth and described in, th! granting and hjbendum da~ses hereof, and such Receiver shatl have alt the b~oad and eifect~ve funct.ons and powers in anyw~se ent~uited by s Cou.t to a Receiver, a~d ch appointment shal~ be made by wch Court as an ad-nneed eq~iry and a matter of absoluie ngM to sa~d MORTGAGEE, and w~ihout reierence to ~he adeqvacy p inadequacy of Ihe value of the property mw~gaged or to the so~ve~cy or insoivency of said MORiGAGOR w the defendants, and that iuch re~is, profih, incare, issues and reven~a shall be apptied by such Rcce~vcr accord~ng to the lien w equity ol uid MORiGAGEE and ~he practice of such Court. 8. To duly, promFtly and (ully pertorm, d~scha~qe, execute, effect, comptere, comply wi~h and abide by each and every the stiputatioro, agreements, cor.diYans and mvenants in ss~d promissory note and th~s mortgage set forth. 9. ThN in the event the ownersh~p of the mortgaged prrm~ses, or any parl thereof, becomes vestcd in a person other fhan the MORTGAGOR, the ? !.'ORTGAGEE, iq successors and assigns, may, withovt norice to the h10RTGAOR, deal w~th wch successw or successor in interest w~th raference to this ~ n-crrgage and the deb~ i~reby secured in tne same manner aa w~th Morrgago~ w~thout in any way vitiating or d~xharging the Mortgagc+ri liability here- :;^.der pr ~pon the debt hereby secured_ No sa~e of ~he premfses hereby r.wrtgaged and no forbearance on the part of the MORTGAGEE a itf fuccessors cr assigns a~d no extension of the hme fo~ the payment of the debt he~eby sec~red given by the MORTGAGEE or ;ts tuccessors or assignt, shall operate io reteas~, discbarge, modify change o~ affect the oreg~nal Iiab~Gty of the MORiGAGOR herein, either in whole w in pa~t. 10_ h. is speuficatly agreed that time is of the essence of this cont~a:t and that no waiver of any obl~gation hereunder or of the obligstion sr c~red hereby shalt at any time thereatter be held to be a wa~ver of the terms hereof or of the instrument secured herby. i l. In aod:uo~ to the iorego ng mo~th!y payments of princ pal and iroere:t requ~red by the prom!sscry no!e sec~.ed hereb~, mortgagor covenants a~~d agrees to pay to mortgagee with each monrhiy pay~nent an add~~ionat sum est~n,ared by mortgagee to be equal to 1!12 of the annual cost of the folfow- n ~ A-Atl rea~ property tares le•ned w a:se:sed agai•,st tF.e above descr~bed reat esrate. f B-Pr~m~vms on fire and winds~orm ~r.surar.ce as nere~n requ;red to be ca~ried on the ~mproveme~ts s~tuate on the above desai6ed premises. I C-P~e:niums on svch mortgage guaranty insu~ar.ce as mortgagee shail froT t me ta t~me deem fit to carry on the loan set~red hereby. E Mortgagee s!~ail from hme to um,e no~ify mongagor ~n wrmng of the amou~t d~e and payable hereuoder and such surn shall thereupon be due and ~ ; a~abk on the due date of the ~ext monTh:y payment and each successive month shereafter ur.fil mo~tgagee shall nohfy mortgagor of a change in such A~ ount. $uch sums sFa.l be appiied by mo~tgagee towsrd the payment of rea~ property taxes, insurence prem,ums, and mortgage guaraMy insurance E ;••emium~_ . ( IN ~JITNESS YJHEREOf, the said MORTGAGOR has here~nto set his hand and seaf the day a~d year first aforesaid. ~ Signed, Sealed and delive:ed in presence of: ~ - ~ C . - (Seal) ~ _ Wi n s i am e r, cs~a~~ ~ - Ul.. ~ . ' `~~1L4l~ ' (Seal) € i n s ra . ye ~ t~ai~ ~ S'ATE OF fIORIDA - s LuCle ~ ~JUNTY OF St . ~ William H. He er, .7r• Before me pe?sonaity a ared y and ~ Cora J . ~eyer ¢ his wife, to me well known and known to me to be ~ ~he individuals de:cribed in •nd who executed the foregang instrument, end ackno~«ledged before me that they executed the same for the purpose~ ~ nc~re~n expresxd. And the said Co ra .1 . Meye r _ ~ .~;,e of ,,;d - William H. Meyer~ Jr. ~ pon a separale affd peivat~ R c.am~nat~on by me taken separote and apert from her said husband, acknowledged to snd before me that she executed said instrume~it freely snd voh~e?~ ~ ~arJy and wiihout any compulsion, tonstraint, apprehens n, or feer of or from her said hwband. i WITNE55 my hand a~d official xal this J~~ day o( Januar A, D. 19 7?' ~ - / ~ s Nmary blic in end for t tate of F{oridq at Large `y' My Ca ~ssion expires: - 7y RNurn To: Fint Federal Savings 3 loan Associafion ~•/'Y' 7 y ! . Of Furt P:erce. Fort P~erce, Ftorida FIl.EO AMn ?ECORDEO ST. LUCiF ;JUMTY FLA. ROCi : ?~j~TRAS C~ERK C ~C~~? ~OURT ~1/ RF~ffP~ VF- ~ r::;_~~ ~ This Instrument Prepared By ?homdS A. Dii SCO11 : First Federal Savings & Loan Association 1 E8 ~ 11 13 1111 ~12 of Fort Pierce , Florida - Checked By~- 223~99 = BUaK 199 PA~E 1197 ~f ~ - - - _ - - . = .