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HomeMy WebLinkAbout1206 3. To ptace and cont~nuousiy keep on thr bu~:d~nqs now or hereafter •ifuate on sa~d ~and and on stl cqu~p,nent and person~ily covercd by ~h~s ma ~ge, w~th all prem~ums thereon pa~d ln iutt, fire i~~s~rancr ~he uwal sra~~dard ~w~~cy foim, in a sum app~o~ed by ~he MOR~vAGEE, and w~~~ds~o ~nsurance in ~he uiual s~anda~d po~~cy form, in a wm approved by the MORiGAGEE, in such company or cwnpanies as ~he h10RTGAGEE m d~rect; and all }ire and w~ndsiorm insurance po~fc~es oo a~y of said build~ngs, any intero~i therein or pa~t ~hereof, in the ~ggregete svm a~wesa~d in exccss thereol, shall contain the usual itandard mortgagre ciause or wch o~he~ clause as ~he Mortgagee may rcq~~re, ma?ing tl~e Ioss w.drr s3~d po c~es, each and every, payabie to said MORTGAGEE as its imeres~ may appea~, and each and every s~rch pot~cy shall be p~omp~~Y aie gnrd and de•~vered ~ sny held by said MORfGAG:E as further aecurity to said mortgage debt, and, no~ ~esa than ten (101 days in ad~ance o( the exp~ra'~on of cach po6cy, ro d. I+ver Io said MORTGAGEE a renewat thereaL 1oge~her w~~h a rece~pt for the prrmium of such renewal; and ~hzre shall be no fi~e or wu~ds~o~~n ins~ranc plxtd on •ny of said buildings, any inte~e~t there~n or pa~~ tllereof, unless ~n ihe (orm and ~n~th the lois payable as aloresa~d; and in ~he evenl any sun of mpney becomei payable under such polity w pol~ues said MORTGAGEE shall have the opno~ ro receive and apply the same on account o~ the indrbtrd neu secwed hereby w to pe~mit u~d MORTGAGOR$ to rcceive and use it p any par~ thrreol fo~ oehrr purposrs, v.~rno~t ~h~~. oi v.~~~~ ~r ~~~~p.,~r ing any equ~ty, lien w r~9ht unde~ w by virtue of this mo:'gage; and in the svent ta:d MORTGAGORS ahall fa any reason fail to keep the sa~d p~em~ars so insured, w fait to detiver pranptly any of said pohcies of inwrance to sa~d MORTGAGEE, or fad p+omptly eo pay fuity any prr~i~i~m theretor o~ in any rospect fait to perlorm, d~scharge, eaecute, effcct, completr, comply wi~h ~nd ab~de by this covenen~, or any par~ hrreof, sa~d MGRTGAGFE may peacr a.~o pay for such in~urance or any part thereof w~ihout waiving or affecting any option, lien, equ~iy, or righ~ under « by vlrrue of ~h~s Morfgage, and fhe ; full amount of esch and e:ery such paymem shatl be immediately due and payabla and shall brar intefe~t from the date thueof unfit p~~d af ~he ra~e o+ n~ne per cer.tum per snnum and to~ether with such interest shali be secured by the lien ol thii mortgsge. 1. To ptrmit, tommit w suffer no waste, impairment o~ deterio~ation of said property w any parl thereof. 5. To pay all u+d singular the costs, charges and expensrs, includ~ng a reasonable attorney i fee and cos~s of abstracti o~ t~tle, incurred or paid a~ any t~me by aaid MOR(GAGfE, because w in the event of the fa~ture on ~he part of Ihe said MORTGAGOR to duly, promptly and fu11y perfam, d~scharqe eaecute, etfed, comptete, comply w~th and ab:de by each ared every the stip~lanons, agreemems, tond~t~ons, a~d tovenants of sa~d piomissory oote a~~d ~h~i mwrgage any or e~thcr, and u~d costa, charges and eapenses, each and evary, shall be immed~ately due and payeblr, whe~her a ~ot there be nonce d~ mand, attempt to coltect or suit pend~ng; and the tull amouM of each and every svch paymem sh~? bear int~rest irom the date thereof umil pa~d at the n,re o+ n~ne per centum ~xr an~~u:n; and all sald costs, charges and eapenses ~ncurred or paid, togNher w~th suth interest, ~hal! be setured by the lien of th~~ morl9age. 6. Thal (a) in the event of any bresch of this Mortgage w default on the part of the MORTGAGOR, w~b) in the event ~ny of sa:d sum= of money herein referred to be not promp?ly and fully paid wi~hin th~rty (301 days next after ihe sa~ne severally become due and payab!e, w~ihout demand or noticr. or (c) in the event each and every the stipulatio~s, agreements, cond~tions and covenants of sa.d promissory note and th~s mortgage any or either are not iuty, promptly and futly performed, d:scharged, executed, eifeded. compteted, compl~ed w~th and abided 5y, ~hen in e~ther a any such evenl the se~d ag gregate sum ment~a~ed in said promissory note then remaining unpa~d, with interest accrued, and a11 moneys secu~ed hereby, shall become dve and pay able for~hwith, or thereaf~er, at the option of sa~d MORTGAGEE, as fully and canpletely as ii a11 0( the sa~d wms of money were ong~na~ly st~pu;ated to be ~~d oo such day, anything in sa:d prom~ssay note or in this Matgage to the connary notwithstand~ng; and thereupon or thereafter at ~he op~~on of sa~d MORTGAGEE, w~ihout not~ce or demand, suit at law w in equuy, therefore o? thereafter begun, may be prosecuted as if all money secured hereby nad matured pnw lo ih institution. 7. ihat io the nvent that at the kxginning of or at any time pend;ng any suit upon th;s Mor~gage, a to foreclox it, or to reform it, o? to enforce paymeM of any cleims he~eunder, said MORTGAGEE shall apply to the Court having ~w~sd~ct~on thereoi fw the appo~ntme~t of a Receiver, such Court shail Fc~fhwith appoint a reteiver of said mortgaged property atl and singular, includ,ng all and s~ngular the income, prof~ts, issues and revenues from whatever sc~rce derived, each a~d every o( wh:ch, it bemg express!y understood, is he~eby mor~gaged as ~f speuf~caily sN fath snd deuribed in the g~annng and habendum cleux~ hereof, and auch Rcceiver shall have all the b~oad and effecr~ve (uncr,ons and powc~s in anyw~se entrusted by a Court to a Receiver, a~~d s_ch appointment shall be made by sucfi Court as an adm~rted eq~ity and a matter of absol~te r;gM to said MORiGAGEE, and w~thout rtference to the adrq~acy a inadequacy of the value of the p~operly mo~tgagtd o~ to the soivertcy or ~nsoivency of saed MORiGAGOR a the defendar.ts, and ~hat svch re•~rs, profirs, incane, issues end revenues shaH be applied by such Receiver accord~~~g ~o ihe Gen w equ~ty ol sa;d MORTGAGEE an~+ fhe pracrke of wch Court. 8. To duly, promptly and fuily perfo~m, dixharge, exec~te, eff~~t, complete, comply w~eh and abide by each and every the stipulations, agrcements, condiYwns and covenams ~n sr~d promissory note and this mortgage set forth. 9. That in the e~ent the ownership of the mortgaged p+emises, w any pari the~eof, becomes vested in a person other than the NORTGAGOR, ths !:ARTGAGEE, ifs successors and ass~g~s, may, wifhout norice to ~he MORTGAOR, deal wnh wch successor a svcceswr in ~roerest w~th refermce to this ~rw~gage and the debt hereby sec~red i~ the same manner as wi~h htorrgagor w~~hout in any way vi~;ating w d~xharg;ng the Mwtgagori liability he~~ ~nder or upon the debt hereby secured. P:o saie of the Fremiaes hereby mo.tgaged and no forbea~ance on the part of tl,~ MORiGAGEE o~ its successon or assigns and no exrens~on of the time for the payment of thr debt he~eby secured given by the MORTGAGEE or its succeuors o~ ass~gns, a~~all operate io release, d~scharge, modify change a aifect the oiig~nal liab~t~ty of the MORiGAGOR herein, either in whole or in parr. 10. tt is spec~f~cally agreed that time is of the tsse~ce of this contract and tha~ no waiver of a~y ob~~gat~on hereunder o+ of Ihe obligation k- cured hereby shah at any time thereaiter be held to be a wa~ver of the terms hereol or of the instr~neent secured herby. I1. In add.~~o~ to the (oreyo ng month}y payments of p.in~ pal and intrres~ requ~red by the p~om:ssory no!e secured hereb~, mortga~or covenan~s ~~:d agrees to pay to mortgagee v~ith each mon~hly pa~~nent an add~nonal sum est~n,aied by mortgegee to be eq~al to l; 12 oi the an:,ual cost of the foliow- ng: A-All real prope.ty taxrs lev~ed or assessed agai•~st fh~ aoove descri~ed real esrate. B--P~amwma on fire and wi~dsronn ~ns~racce as herr~n r~u;red to be carr~ed on the ~m~:roveme~ts s~tuate on the above described premises. C-Premiuma on such mortgage guaranty irsurance as mo~tgagee shall from t me to time deem fit to carry on the loan secured hereby. Mortgagee shail ?rom time to t~me n~tify mongagor m writ~ng of the amount d~e and payable hereundrr and such su:n shafl thereupon be due and ~ ~.~yable on the due de~e ot the ~~eat month!y paymero and eatfi successive month the~eafter vchl mortgagte shall not~fy mortgagor oi a change in such ~ a-:ount. Such sums shall be app!ied by mortgagee toward the payment of real property taaes, insuraice prem.ums, and mortgage guaranty insurance i i:•remium3- _ - IN WITNESS WHEREOF, ?he sa~d MORTGAGOR has hereunto set his hand and seal the day and y /irst ~loresaid. z ~.Signed. Sealed delivered i presence of: ~ r ~ .,..r- ~ . n a tr ` b ` ~al~ F / • F ~ Y ~ M.1._._~ ~a./ ? ~ ~ ~ _ ~ n`itness Clara I. 9nitti c~,n ~ - ~ ~ STATE OF~ Michigan ~ ~ CJUNTY OF / , ~G ~ Betore me penonally appeared QAOl'~ D. S1R~tt1 Ci18PS 1• Smith his wiie, to me well known and known fo m~ t0 ~ rhe ind;vidwls described in and who executed ~he fuegoiny instrume~t, ~nd acknowtedged before rtu that they executed the same fw tM purpwes ~ ~herein expressed. Md the taid_ CZSl'8 1. S~.ti~] ~ ~~~e of the sa~d - ~~Y'~ D. 9stith v~ a separste snd privat~ ~ e.aminat~o~ by me taken uparate and apart from her said huaband, acknowlcdged ro and before me that she executed said initrument freely and voluo- rar~iy and without any compuls'an, constraint, apprehens~on, fear of or from her said hwband. ' ~ Februa ~ WITNESS my hand and of(icial seal this__ _ day oi__ - A. D. 19 ~2 ' _ -.y ~ ' . Notary Public in and (or the State of ~ ~t lar~ ~ ' My Commission expires: Q Return To: First Federal Savings ~ loan Associanon LYLE F. S7E~YART - ~ - Of Fort V~erce. Fort P~2fCB. FIOfI(~J ~8~y Publit. Ldpee? CO., Mlch. - Mv Co~~~~~ E~P~res 11ac~h 4~ lyla : ' ~ ~ - F11E0 AHJ 4ECORDEO ~ - ' This Instrument Prepared By 1~I1D. E. 82'8uT1 ST. LU~IE COUNTY FIA. ' First Federal Savin s 8 Loan Association ROC:~' PO~tRAS ~ of Fo t Pierce ~~Ol~d8 GIERK U!T COURT ~ : RE ,~s~ i tED Checked BY f EB ~ 11 13 QH ~~Z " 2~ 33Q3 o R ry~: ~ BooK 199 P~~~ 1?. Q~ _ _ - ~ _ _ _ - _ ~ : ~ 's: - v:=l~a'.