HomeMy WebLinkAbout1580 3. To place and comir,uou~~y keep on the bu~:d~ngs nox o~ herrafter iSruste on sa~d land and on a~~ equ~p:nent and peno~e~~y cove~ed by rF~s mo~
e~s, w~th all prem~~ms thEreon pa d~~ fult, f~re ins~ronce m tne uwal sundard po'~cy Fo~m, in a s~m aHpro.ed b~ ~he MOR~:,. ~:E, a•d ti~~~daTo
~nsvrartce in the ~~ual s~andud poi,tY fam, i~ a sum ap~ro.ed by the MORTGAGEE, in such tompeny or to-npanlea as the ti10RI~AGEE
d~~eu; •nd all fi~e and w~ndstorm iniu~ance polic~es on eny of sa~d burtd~ngs, any ~nte~ea~ theroin or pa~t thereof, in the ag~rega~e su~* afo~esaid
in excess ~hrreof, shall :ontain ~he uaual i~a-~da~d mo~tgeges c~au~e u wch other clauie as the Mo+tgagee may rogu.re, maAing ~h~ :oss ~nd~-: s~.d po
r•ea, each and every, payab!e ro said MJRiGAGEE as ~~s infere:t may appear, and each and eve~y such po'~cy shait be promptiy a~s g~~cd a~ d de ~~z~ed ~
any held by sa~d MORiGAGEE ss furthei ~ecurity to aa~d mortgage debt, and, no~ les~ ~han trn (10I days in advance o~ ihe eap~ranon o+ ea:h po~~c~, to d.
t~ver to said MORTGAGEE a renewal thereof, ~ogether wi~h a rece~pt for the pram~Lm of such rene~ai: and theie aha:l be no f~re or w:~~asro~~~ insuranc
placed on any of sa~d lw~ld~.~gs, any ineerest there~n or part the~eof, un'rss ~n *he Form and v.•~+h the Icss payable as aforesa~d; a~d ~n ~he eVent any a~~+
of rrwney becanes payable under such policy or poLcits said MORTGAGEE shall hare !he opr:on to recr~ve and app~y the san:e a+ accv~~v of ~hr ~~~dretad
neas secu~ed he.eby or to permi! sa:d MORTGAGORS to rece~ve and use it w any pr.t thereoi for omc- cur~ ~ses. ~ro~r ih
~ng any ~q~~ty, lien w r~ght under w by virrue of th~s mo-rgage; and in the event sa.d MORTGAGORS sh~ll for any reason fail to krrp the sa~d D~e~n~sas so
~nwred, or fail ro deliver promptly any of sa~d poLues of insu~ance to se;d MORTGAGEE, or faii p:orr.ptly to pay fu;1y any pre nw-n tnere4or o~ ~n a~~y
respM lail to pe~form, d~scha~ge, e:ewte, eftect, complere, comply wirh and ab~de by ~h~s cove~ant, w any part hareof, sa~d ?~tGR7;,~aG:E ~ay p•acr a~o
pay for such insurance or any part thereof w~~hout waiving or affecring any opt~on, lien, equ~ty, o~ n~hf unde~ o? by virtue o! :h~s hte~tg~qr. and ths
f~U amount of each and e~ery such payment shall be ~mmed~ately d~e and payab!e and shail bear interest from ths data thereoi unf~~ p~~d at tne ra~e ot
~~ne per cenWm ptr annum and to~ether with auch ~nir~eit sh~~~ :x srcured by the t~en of this mortgage.
To permit, commit or sufFt? no waste, impairment w dererioranon of sa~d property or any part thereof.
S. To pay all and singular the coat~, charges and expenses, ~nclud~ng a reasonable attaney's fce and costs of abstracts of t:tle, incurred or pa~d at
eny time by said MORTGAG:E, betause or in the eve~t of the fa.lure on ?he pan of the said lNORTGAGOR to dvly, promptly and fv.~y pe~form, d~scharge
~¦rcure, effec~, comp:ete, comply wah and ab:de by each and every the st~p~lar~ons, agceements, co~+dihons, and covenanrs of sa~d p~o~*+„sor~ nore a~-d tha
„ortgage any w e~~her, and sa;d costs, charges ar,d eapenses, each and every, shall be immtd~tlely d~e and payable; wherher or nor rhere oe nor~ce da
e,a~d, attempt to toliect or suit pend~~~g; and the full amour.t of each and e~ery wth payment shai: bea~ interesr from the date ~hereof un~il pa~d at t~,e
~.,re os nine per cent~m per ann~rn; an~ all aaid costs, cnarges a~d ex~rnses irx~:red or paid, togrther w~th such interest, shall be secured by ~he 1~en of th~~
mortyage.
6. That (a) in the event of any breach of this Mortgage o? defa~lt on the part of the MORTGAGOR, o~ ~b) ~n !he event any of sa:d sums of money
herem referred to be nat promp~ly and fuily paid v~ri~hin tfi,r~y (30) deys nexf aerer the same se:era.!y oecome due and payable, without demand or nencr.
c: (c) in the event each and every the atip~!ations, agreemenrs, cond~}ions and covenants of sa.d prom]sao~y note and th.s moregage any or e~ther a.e no1
iv1y, promprly and fully perfwmcd, d~scharged, executed, effecred, cwnpleted, compl~ed with and ab~ded 5y, rhen ~n e~tFur w any such eve~+ ihe sa~d ag
y•rgate sum mentioned in sa~d promissory note then remain~ng unpa~d, with inte~e;t acuued, and a~i moneys securrd hereby, shall become due and pay
ee.e forrhwith, w thereafter, at the opnan of sa+d MORTGAGEE, as fully and comp:etely as if ail of the sa~d wrns of money we~e or~9ma,iy s+~pu,ared
to be pa~d o~ such day, anything in sa.d prom~ssory note or in th~s Mortgage to the conrrary no~x~rhsta~~d:ng; and thereupon a~ therea!rer at rhe op~,on of
s>.d MORTGAGEE, w~thout nonce w demand, suit at ~aw or in eqwty, therefore or thereafier begun, may be Qrosecuted as if all muneya secured herokxy
r.,d matured pnw to As ~nstitutwn_
7. That in the event that at the beginn;ng of w at any time pend~ng any su~t upon th~s Mo~tg~s, p to fweclose it, or to reform it, or to e~jorce
payment of any daims hereunder, u~d MORTGAG'.E shaN apply to the Court having ~urnd:ct~on the:eCF fur the appointment of a Receiver, such Co~rt shaif
i-•rhwlrh appoiM a rece~ve~ of said mortgaged property aft and singu!ar, inci~d.ng aii and s:ng~~ar fhe ir+cpne, profits, iuues and revenues from white~er
s~~rce derived, each and every of wh.ch, it be~ng eapress!y underuood, is hereby mortgaged af if spoufitaf:y set fwth and descnbed in the p~annng and
h+uendum da~ses heraof, and svcfi Receiver shaii have aIl the b.aad and e+fecrive f~nc~.ons and powers in anyw~se entru~ted by s Cou.t to a Rece~ver, ar.d
s_ch appointmeot shall be made by such Court as an admittrd equ~ty and a ma~re~ of abso~ure rght to sa~d MORTGAGEE, and w~~hout reference ro the
adeq~aty p inadeq~aty oi the vaiue of the property mongaged or to the so:vtncy or ~nso:vency of said MORTGAGOR a thr deiendants, and rhat wch
re~y, profits, inco.ne, issues and revrnues ahaH be appi~ed by such Receiver ac.ord~ng to the iieo or eqvity of said MORiGAGEE and th. p~acnce of s~ch
Court.
B. To duty, prompt!y and fully perform, dis:harge, execute, efi~ct, compiete, tomply wirh and abide by each and every the s!iputations, agree:nents,
;onditions and covenams ~n sa~d promissory note and :h~s mortgage set forth.
9. That in the event the ownership of the mo~tgaged prem~ses, or any parr thereof, becomes vested +n a prson other than the MORTGAGOR, the
ti•ORTGAGEE, irs successors and ass+gns, may, w~rhout nor~ce to ~he MORTGAOQ, dea! .v~th such successor w successw in mterest with refere~xe to this
^.ongage and the deb~ hereby secured ~n the same manner as wrth Mortgagor nnhout in any way vihati~g or d~xharg~ng the Pdor!gagors' tiao~Iity herr
; nder or upon the debt hereby sec~red. No sa!e of the prem~ses hereby mort ~aged and no forbearance on the pa~i oF the MORTGAGEE or its :uccessors
o~ ass~gns and no extens~on of the t~me for the payment or the debt hereby s xured g~ven by the MORTGAGEE or ~ts successors or asa:gns, a~.all operate
!o re~ease, d~scharge, modify change or affect the arig~nal Gab,Gty of the YA:TGAGOR herdn, either in whoie or in par?.
' 10. It is speuficaliy ag~red that time is of the essence of ~h~s contrad and that no waive~ of any ob!~gat~on hereunder a of the obligation sr ~
; c~red hereby sha!1 at any timr +hereafter be held ta be a wa~ver of the terms hereof or of th! instrument srtured heiby. ~
~ 11. in add,t~o~ to 1he fweyo ng monthly payments of print pal end interesr reqe.~r:d by the prom su~ry no~e secu{ed her~b;. mortgagor covenanls
! ~~d agrees }o pay to mortgagee w~th each monthiy pay~. ent an add,rional sum est:~~,ared by mortg~gee to be equal to i. 12 of Y.:e ann~al cost of the foi~ow-
{
A-All .eal prope~ty taaes lev~ed or assessc~ai aga~nu tF.~ above desc~i5ed real enta!e.
~ S-PIBT.r;J!.^~S on f~re and wir.dsro+m inw~a~ce as nerein rcqu.red to be carr~ed en thr im~.rovements s~tuate on the above d2suibed premises.
€
~ C-Prem~ums oo such mortgage g~a~anty ir.surar.ce as mortgagee shail from t me to time deem fit to carry on the 'oan secured hereb~.
# blortgagee s~a:l f~cm r~me ro nme notify mo.~yagor ~n wrrt~ng af the amo~~r due and payabte hereundrr and wch w+*+ sha!f thereupon be due a~d ~
'r :.~va5le on the d~e date of the next month:y payment and each wccessive month thereaft:r ur.hl mertgagee shall not~fy mortgagor of a change in such
~ o,nt. Such wms sFa:l be app:;ed 'oy mortgagee roward rhe payment of reaf property taxes, insurance prem.~ms, and mortgage gyaranty insurance ~
~ ,,•emiumi.
~ IN \YITNESS WIHEREOF, the said MORTGAGOR has he~eunto set h~s hand and seal the day and ear ' st afwesaid.
t ( Sig~ed, Seal a deliv in the presence of: z .
k .7C~t~s.~4-~ ~ (SeaD
~ 1 May (Sesq
ri (Seal)
~ zene F. idg Y tkan
~ S~ATE OF fLORIDA ~
~ CJUNTY Of $L. Lt1Cle ~ ~
~ setw~ ~~~w~a~ty .~a~~d Ke i th B. Ri dgwav ,nd
Irene F. Ridg~ray his wife, to me wefl known and known ro me to be
~ thr +ndividuals described in and who eaecuted the foreyoiry instrument, and acknowledged befwe me that they executed tFM ~aroe for the purpose~
~ rherein ex~.~~d. n~d frM ~~a Irene F. Ridg~ay
,
N~?e of the said -~1t~1 B. RidgMay ypon s sepa.ate and priwr~
~ exam~~at~on by me taken xparate and apart from her said husband, acknowledged to and before me that she execut~~;~id irotrument freely and votuo-
ra~~1y and w~thout •ny compuision, consrroint, ipprehe ~ or fear of or from her said husband.
WtTNE55 my hand and offic~al seal thi~_ day of ebrUd=y " ~ A. D. 19 72
r~
- Notary Public in and for Stat~ of f{prida at l.rpe ~
- My Comm~ssion expins:. '
Return To: NpjlfAll pUBI}C~ $TA~E Of FWRIDA at l1lRGE
First Feder~l Savings 3 loan Associat~on Mly CQMMISSIOt'1 EXD~RES SEPT. 25. 197~
O( Fort P~.;e gpnd~d dy Ma~kae Bankers lnsunnce
Fo~t P~rrce. Florid~ FILED °E~Of?DED
ST L'v~ :~1'T FLA. ~
~ F: • - ~~S
c~f~? : - Y;;~,:o~
_
This Instrument Prepared By John W. Collins c
First Federal Savings & loan Associ~tion 1 E8 ~ IL 44 ~M ~
;t~ of Fort Pierce ~ Rloiida
Checked By~- _ l~ r~3aK7 I
= 800K~~7 PAi~~S~
-
~ - - - _ _ ,
- -
~
~`_r