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HomeMy WebLinkAbout1643 : ' • 3. To plac~ and continuously ke~p a+ ihe bui'd~ngs now w he~eafter ~ituate on sa~d land and oe+ a~i equipment and perso~ally covered by ~his mor ege, with all premiumi thcrew~ pa;d in full, fire insurance in ths uswl standard po~~ty form, i~ • s~m approved by the MOR~GAGEE, a~d w~ndsro ~nsura~ce in ths u~ual sanda.d pol:cy fwm, in • sum ~pproved by tht MORTGAGEE, in such canpa~y or cornp+n~cs as MORTGAGEE m dircc?; ~nd all fire and winds~orm insviante po~~cies on ~ny of sa~d bvild~nys, ~ny inrereet therein ot pa~~ thereot, in the aggregate sum aforesaid in eaceu ~hereof, thall contain the usual stan~ard margage~ ci+uf~ a such o~her dauie ~he Mat9age~ may requ~re, making the loas undr~ sa~d po c~es, each ~nd ev~ry, payab~e ro said MORTGAGEE as its interest may ~ppsa~, and each and eve~y such-poi~cy sh~ll be prompfly su g•~Td a~~d de~~vercd ~ ~ny hetd by sa~d MORiGAGEE as ;unha iecurity ta said mort~ag~ debt, and, oot leu than ten (10) days in advance of ~he exp~~at~on ot each po~~cy, ro d. I~ver lo uid MORTGAGEE a renewal the~eof, togethtr with a rese~pt fw the {xemium of tuch renewal; and ~he~e ~hall be no i~re or winds~o~m ~nsuranc ~ placed on any of ~aid buildings, any interasl there~n w part thereaf, unleu in the iorm •nd wi~h ~he loss payable as aforesa~d; a~d in the e~cnt any sun ef rrwney becomes payabfe under such policy w pol~cies said MORTGAGEE shall h~w ths opt~on to rece~ve and appty 1he same w+ account of the indrhtrd nefs secured he~eby w to pe~mit sa~d MORTGAGORS to reteive and uss it or any part the:eoi for ofhr~ purposes, w~~ho~t •h_~rui .va~+~ *3 0~ ~~t~~~~ ing any equily, lien w right unde~ or by virtue of this mo::qage; u+d in Ihe tvc~t ss~d MORTGAGORS ~Aa11 for a~y rcawn fail to keep the said prem~srs so in3ured, w fail fo deliver promptly any of said polKies of insu~arxe to said MORiGAGEE, w fail promp~ly 1o pay fully any p~e~n~vm iherafor o~ in a~y respect tail ~o perform, distharge, execute, effect, complete, comply wi~h and abide by thi• covtnant, w ~ny part heraoi, u~d MGRTGAGEf may p;ace a:~a pay fa such insurance or any part thereof wifhout waiving ot affectirq any option, lian, eqv~ty. w right unde~ a by virtue of th~s Mo~tgage, and tfie full amount of each and every such payment shall be immrdiately due and payable and shall bear inte~est from tha date thereof unfil pa~d at the ~at~ ol nine pc~ centum psr annum and to~ethrr with such interest shali be secured by Ihe lien of this mortgage. 1. To pe~mit, tommit or suffer no waste, impairme~t w deterioration of taid prope~ty or any put ther~of• 5. To pay all a~+d singulu the costs, cMrges and e:pe~KS, inciuding a reasonable attwney's fce snd cosK of abstracts of title, incurred w pa~d af any lime by sa~d MORTGAGfE, because or in the event of the failure on ~he pa?1 of the said MORTGAGOR to duly, promptly and f~Ily pe~form, d~scharge. execute, effect, complete, comply wnh ancl ab;de by each and every the st~pu~anons, sgrcemenrs, cond',tions, •nd covenanrs o~ sa~d pran~swry nore and ?hti morigage any or ei~her, and sa~d costs, chargq and eapenses, each and every, sha11 be immed~ately due and payable; wherher or nof the~e be notrce dr mand, attempt to collecf w sui~ ~nd~ng; and the f~ll amov~t of each and every svch paymem shall bea• in+eres~ from ~he date thereof u~til pa~d at the rate of nine per crntum per annu:n; and ap said coats, charges and expenses incurred w paid, together w~~h such enterest, shall be secured by Ihs Ge~ of this mwtya~e. ' 6. That (a) in the event of any breach of this Mwtgage or defautt on ?he parf of the MORTGAGCR, or (b) in the event any of sa;d sums of money 3 herein referred to be not promptly and fully paid within th~rty l30) days next atter ?he same severatty become due and payable, without demand or not~ce, or (c) in the eve~t each and eve?y +he stipula~ions, agreemenrs, co~d~rions and covenann of sa.d prorr~issory note and th~s mortgage any a e~the~ are na ~~ly, promptly and fully perforrrod, d;uharged, executed, effecre~, completed, compiied with and ~b~ded 5y. ~hen in e~ther w any such event ths w~d ag gregate sum mentioned in said promissory note then remaining unpaid, with interest accrued, and ail moneys secured hereby, shall become due and pay, ao,e fo~thwith, a thereaiter, at the oprion ol said MORTGAGEE, as fully ard completely as if atl of the said s~ms of money v`e.e w~g~natly s~~pu~aied ro be pa~d on such day, anything in sa:d prom;ssory note or in this Mwtgage to the contrary notwi~hsrar+d;ng; and thereupon w thereafter sf rhe op~~on of sa;d MORTGAGEE, without norice w demand, suit at law a in equ~ty, therefore or thereafter begun, may be prosecuted as if all moneyt secured hereby nad matured pr~or lo its institution. 7. That in the event that at the beginning of or at any time pending any fuit upon this Morrgage, w to fwectose if, or to reform it, or to enfoace payment of any daims hereunder, said MORTGAGEE shall apply to the Gou~~ hsving ~w~sd~ction thereof for the appo~ntment of • Receiver, such Court shail ic•rthwirh appoint a receiver of said mortgaged property all and singuiar, inctud~ng atl and singvlar rhe income, prof~ts, iuues and revenves frar whare~cr source derived, each and every of wh~ch, it oe~ng eapressly understood, is F.ereby morrgaged as if spec~Hcelly set forth and described in the g•anting and habendum ctsuses hereof, and such Receiver shall have all tfie broad and ef(ective funct,ons and powcrs in anyw~se entrusted by a Court to a Receiver, and t: ch appointme~~t shall be made by such Cou~t as an admitted equ~ty and a maner of absolute nght to said MORTGAGEE, ~nd w~rhout ?eference to ?he adequacy w inadequacy of the value of the p~operty mongaged or to the so~ven~y or inwtvency ol said MORLGAGOR a the defrndants, and that such re~~s, profits, inco~ne, issues and reveriues shall be appl~ed by such Receiver accord~ng to the lien or equity of said MORTGAGEF and the pract~ce of such Court. i 8. To duly, promptty and fully perform, d~scharge, execute, effect, complNe, comp~y w~th snd abide by esch and every the stipulations, ag.eements, conditio~s and covenants in sa~d promissory note and this mortgage set iorth. 9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other tMn the MORTGAGOR, the :'ORTGAGEE, its successors and ass~gns, may, wi~hout no+ice to the MORTGAOR, dea~ w~b such' successw w successor in interest with reference to th~a mo-tgage and the debt hereby secured in the same manner as with Mortgagor without in ~?y way viti~timg or d~scharginfl Ihs Mortgagori liabiliry her~ under or upon the debt hereby secured. No sale of the prem~ses hereby mortgaged and no forbeaunu ow the parl of the lNORiGAGEE or its successors or assigns and no ex~ension of the time for the paymem oi the deb~ hereby secorcd given by the MORTGAGEE o~ ~1s succesaors a au:gns, shail ope~ate ro release, d~scharge, mod~fy change w affect the orig~nal liab~:~ty of the MORTGAGOR htrein, either io whok w in pa~1. 10. It is speufically agreed thst time is of the essence of this co~trad and that no waiver of any obli9at~o~ hereunder w of the obligation se- cured hereby sha~t at any time thereafter be held to be a wa~ver of the terms he~eof or of t!x instrument secured herby. , Il, tn add~tio~ to the foreqo:ng monthly payments of p~inc'pal and interest requ~red by ~he prom:sscry nore sewred he~eby, mortgagor covenants a~d agrees to pay to mo:tgagee with each momh:y payr~~ent an add,~ional sum ev.n,ared by mortgagee to be equal to 1 12 of the annual cost of the follow- ~ng: ~ A-AI{ ~eal property taxes levied or assessed agai~st the above described real estate. ~ B-Prem~ums on lire and windsrorm insvrar.ce as here~n requ~red to be carried on the imp.ovements s~tuate on the above described premises. t C-Prem~ums on such mortgage guaranty insurar:ce as mortgagee shall from t~me to time deem fit to carry on the loan secured hereby. Mwtgagee shall from time to t~me nor~fy mortgagor ~n wr~t~ng of the am.ount due and payable hereundrr and such surn shall thereupon be due and [ ; a~able on the dur date of ~he next momhty payment and each successive manth thereafier ur,til mortgagee shal! not~fy mortgagor of a change in such € ~~ount. Such sums sF.atl be applied by mo~tgagee toward the payment of reai property taxes, insurance prem:~ms, a~xl mortgage guaranty insurance € ,,•emiums. € IN WI SS WHEREOf, the sa' MORT GOR has hereunto set his hand and seal the day a~d year first aforeaaid. ~ " Si Se ed a deiive ~n eunce of: ~ L +4 ~ - . Z ID (Seaq ~ ' aq ~ . _ ~ (Seaq ~ ~ ~ S ~ ATE OF FLORIDA ~ ~ $t . ~11C le ~ ~ COUNTY OF and ~ Before me personally appeared Melvin E. Graham Carol J Graham ~ ~ • his wife, to me well known and krtown b rn! to b~ ~ rhe individuali desuibed in and who eY:c_s~d the foreganp instrument, and ~cknowledged be~ore me that they executed the same fQr th~.purposss ~ Ca rolyri J . Graham _ ~ _ _ tnerein expressed. Ar?d the ssid x,r~ or ~tb ~~a rtelvin E. Graham _ ~ ~ , .~::~i~ ~ ~M ~ examination by me tske~ separate and apart from her ssid hwband, acknowledged ~o and before me that she executed said insfr~mqvit. ~ly sri~ _~Nr ? rar~fy and without any compulsion, cons~raint, apprehe p(~, w fear of or from her said husband. s~ ~i , jFr~~` ~ ~ Februa r • r ~ WITNE55 my hsnd end official seal this day of y ' ' A. _ . _ : , ~ - Not~ y Public i~ ~nd or t ats Iqf~ tt la My Commission txpires: ~~2 ~ ~1;5^'r: . ' Retum To: ~ f ~ ws _ First Federsl Savings 3 laan Association x;i Of Furt P~erce. Fo~~ Pierce, Fforida FIIED AlID RECOROE~ 3T. ~UC~E C~UMTY FLA. wy ROCEa PGtTRAS CLERR C~CCUIT COURT ~ RECQRJ vF~~FtED This Instrument Prepared By Richa rd K. Kayes `u =~y First Federai Savings b Loan Ass~ciation fE0 ~0 ~0 41 Nli ~7Z ' of Fort Pierce, Florida Checked By S ~CRI( ~V~7 P~rc~~~~ -r ~ _ _ - ~ r - ~ . _ . - _ .