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Home My WebLink About0083 3. To plsce and con~inuously keep on ~he bui!d~ngs now o~ hereafter situste on sa~d Isnd and on all eq~ip~nent and per~onally covered by thif mw ~ sg~, with all premiumi ~hereoe pa~d in (ull, lire insurance in the ~sual standard pot~cy form, le? s sum approved by ~he MORiGAGEE, a~}d w~~~di~o ~nsunnc~ i~ tM usual iranda.d po~+cy form, in a sum spproved by ~h~ MORTGAGEE, in such compa~y w companies as the hIORTGAGEE m ~ direct; •~d all fire and wlndsto~m insuronce ~ policiet on any of ia~d bu~ld~ngs, ~~y inrerest thercin or Fart thereol, in the agg~e9a~e sum aforesaid in txcess the?eof, thall contain ~he usual atandard matgagee clause w such oiher c1auH as tM Mcrlgagee may reqwre, making ~ha Ioss w~de~ sa~d po ~ c~es, each and evtry, payabte to said MORTGAGfE as ~ts intrreit may appear, and each and every such pol~cy shall be promptly ass gned a~d de~~verrd ~ i sny held by said MORTGAGEE ~s lu~ihs~ ~ecurity ~o seid mwtyage debt, and, not les~ than ien (IO) dsys in advance o1 ?he expiranon of each pollcy, to d. i liva to said MORTGAGEE a renewal the~eof, ~oge~her wi~h a rece~pt fw the premium oi such renewel; and there shall be no f~re or windsto~in i~suranc plxed on sny of said buildings, any inreres~ there~n or pa~t thereof, unless in the form and wiih the loss psyable as afo~esa~d; and in the event any sun of money beconus payable vnder such policy a policies said MORTGAGEE shall have the option fo ~eceive and apply the Sdne2 on account of the indrbtad neu ucured hereby o~ fo pcrmit said MQRTGAGORS ro reteive and use it ot ony pa~t lhereof io~ otnrr purposrs, wi~hout thrr,a~ .vci~in3 ~r impair ing any equity, lien w rignt v~der w by virtw of this mo:tgage; ~nd in the event uid MORiGAGORS shall for any reason fail to keep the sa~d prem~scs so } insured, or fail b deliver promptly any of said pol~cies of insurance to said MORTGAGEE, w fail promptly to pay futly any pre~»iurn therefo~ or in a~y respect fail ro perform, discharge, execute, eifect, complete, comply wiih and ab~de by this covenant, a any part hercof, aaid MORTvAGEE may place a~~c pay fw such inaurance or any part thereaf without waiving or affecting any option, lien, equEty, or ~ight unde? w by virtue of ~h~s Moregage, and tMe full amount of eath and every such payment shall be imrr:ediately due and payabte and ihall bear interest from ths date ~fiercof uniil pa~d at the ~ate ol nine pe~ cenwm per annum and to~ether with such inte~est shalf be srcured by the lien o( this mo+t8age. 4. To permit, tommit or suffer no waste; impairment w deteriorarion of said property o? any part thereof. S. To pay •II and singular the costs, charges and expenses, including a reasonable attorney's fee and cosrs of abstracts of title, incurred or paid st any time by said MORTGAGEE, becavse or in the event of the fait~re on the part of ?he said MORTGAGOR to duty, pranptly and fu11y perform, d~xharge. execute, effeu, comptete, comply with and ab:de by each and every the st~pulat~ons, agreements, tonditions, and covenants of said pranissory note a~d ~his ~ mwtgage any or eifi?er, and uid costs, cMrges and expenses, each and every, shall be immediately due and payab:e; whethe~ or not there Ee nonce d~ mand, attempt to coliect or suit pend~ng; and the full amount of each and every such payme~~ shall bear interes~ from ~he date thereof un~il paid at the rate oi nir!e per centum per. annum; ant! all said costs, charges and expenses incurred or paid, logether w~th such inlersst, thall be secured by the lien of this mortgsge. ' 6. That (a) in the event of any breach of this Mortgage or defauti on tl~e part of the MORTGAGOR, w(b) in the event any of sa~d sums of mortey herein refe~red lo be not Qranptly and fully paid within th,rty (30) days ncxt aiter the same severally beco~ie due and payable, without demand w natice, or (c) in the event each and every the slipulations, agreements, conditions and covenants of sa~d promissory no:e and th~s mortgage any or either a~e not ~uly, promptly and fufly perfwmed, discharged, executed, effected, completed, complied with and abtded by, then in either o~ any such event the said a9- gfegate tum menfioned in sa~d promiaswy note then remaining unpa~d, with inte.est accr~ed, and all mo~eys ~cured hereby, shall become d~e a~d pay able fathwith, a thereafter, at the option of said MORTGAGEE, as fully and complerely as if all of the sa~d sums of money were w~g~naily at~pu~ated to be paid o~ such day, anything in sa:d promissay note w in this Mo~tgage to the contrary notwiths~anding; and thereupon or thereafter at the opt+on of naid MORTGAGEE, withoul notice or demand, suit at law or in equity, therefore w thereafier begun, may 6e prosecuted as if all moneys secured hereby had matwed pr~or to its institwion. 7. That in the evc~t fhat at the beginning of or at any time pending sny su~t upon this Mortgsge, w to fweclose it, or to ~eform it, or to enforce payment of any claims hereunder, said MORTGAGEE shall apply to the Court having jurisdiction thereof for tha appo~~tment of a Receiver, such Court shail Forthwith appoint a receiver of said mwtgaged property all and singular, includ~~+9 ail and aingular the intome, p~of~ts, iuues and revenues from whatever seurce derived, each and every of which, it being express~y undcrs~ood, is hereby mortgaged as if speufically set fath and desuibed in tFx grantinq and habendum clauses hereof, and such Receiver sha11 have all the broad and effective funchons and powers in anywise entrusted by a Court to a Receiver, and s~ch appointment shall be made by such Court as art admitted equity and a matter of absolute right to said MORTGAGEE, and w~thout reierence to the edequacy w inadequacy oi the value of the property mw.tgaged or to the sotventy w insolve~cy of said MORTGAGOR p the defendants, and that such rems, profiri, irxane, iuues arxl revenues shall be auplied by such Receiver accwding to the lien or equity of sa~d MORiGAGEE and the practice of such Gourt. 8. To duty, promptly and fully perform, d~xharge, execute, eifect, camplete, comply with and abide by each and every the stipuiations, agreements, ~ conditions and covenants in sa~d proml~swy note and th~s mo~tgage set forth. 9. That in the event the ownership of ~he mortgaged prem~ses, w any part thereof, becomes vested in s person other than the MORTGAGOR, the MORTGAGEE, its succeuors and aui9ns, may, without notice to the MORTGAOR, deat with such succeuw or successor in interest with reference to this mo~tgage and the debt hereby secured in the same manner as with Mortgagw withovt in any way vit~ating a disthargi~g the Mortgagori liability here- under or upon the debt hereby secured. No sale of the premises hereby rrsortgaged and no forbearance on the part of the MORTGAGEE or its successors or asigns and no extension of the time fa the payment of the debt hereby secured given by the MORTGAGEE or its successors or au~gns, a:~atl operate ro releax, discharge, morlify change or affect Ihe original Iiab;l~ty of the MORTGAGOR herein, eithtr in whole or in part. 10. It is specif~catly agreed that t~me is of the essence of this contract and that no waiver of any obllgat~on hereunder w of the obligat~on se- cured hereby shall at any time thereafter be held to be a waiver of the terms hereof a-of the instrument secured herby. 11. In add:t;o~ to the forego:ng monthfy paymems of princ'pai and interest req~~red by the promtssory no!e secured hereby, mortgagor covenants and agrees to pay to mo:tgagee with each monthfy payraent a7s~dd,tional sum est~mated by mortqsgee to be equal to 1; 12 of the annual cost of tFr_ follow- ~ng: R ~ A-All real property taxes levied or assessed agai•.st thc above described real estate. t B-Premiums on fire and w~ndstorm insurar.ce as herein requ~red to be carried on the ;mprovements situate on the above described premises. ~ C-Premiums on such mortgage guaranty insurar,ce as mortgagee sfiaU irom. t;me to time dzem fit to carry on the loan secured hereby. Mortgagee sha~l from time to time norify mortgagor in writEng of the amount due and payable hereurider and such sum sha!t thereupon be due and { Fayable on the due date of the ne~t month!y paymem and each successive month thereafter ur,til mwtgagee shall notify mortgagor of a change in such ~ a~~~ount. Such sums sF.a!I be applied by rnortgagee toward the payment of real prpperty tazes, insurance prem:ums, a~x! mortgage guaranty insurance premiums. s IN WITNESS JVHERcOF, the said MORTGAGOR has hereunto set his hand and seal the day a year first af esaid. ` : . Seated and deti in he preunce of: . i Q E ~ ~ J s . Spa rac ino ~~an ~ ~ $ s~ao ~ iane M. ra ' o ~s~an ~ ' STATE OF FlORIOA ~ l t ' ~ COUNTY Of $L • LLiCIe f SS. 1 ~ Joseph J. Spa rac ino 8efore me persorwlly appeared and ~ Eliane M. $Z?draClflO his wife, to me well _known ro me to be ~ the individwls desuibed in and who eaecut.~+ •tie foregar~ instrument, and acknowledged befwe me that they ex .for' the purposes rherein expressed. And the sa~a._E].ia,ne M. Sna raeino ;;;~;~r~,,, _;i,y ~ Z'. « . . ~ Jose h J racino.-` _ ~ n•ife of the said p • ~a ~7..; Leon ~4~ritA.Md private = examination by me taken separate and apart from her said husband, atknowledged to snd before ms that she exp'e~t~ t~~ins?rtinlMl ~ly:and volun- ranl and withwt an com ulsion, constrainr, a re1~e s~ fe~r of o~ from her said husband. -r= ~-r ~ ~ Y Y P PP ~ - . : . : - ~ WITNESS my hsnd and official seal this day of Februa i'' t.~`~fl. ~q 72 ~ • ~ • ~ 'j : ~ = Wotary Public in ~nd foi'. ~?of' ~~la~qe My Comm~ssiw~ expi~es: ~ ~~1~ ' - c, ` Return To: II~AtT l.~~L d fLORIDA ~t tARO! Fint Federal Savings 3 Loan Association 11Y C~ QPIRES SEPT. ZS. 19TS ~x Of Fert P~e:ce. BOi10~d 8y Art~iaD Bankers Insunncs ~a E= Fon P~erce, florida ~ ~ r ~EO ~?No nECOaoEo i~•lUC1E COUMTY f~A. ~ ~ ' fl4CER PO~TRAS - This Instrument Prepared By Jp1tn W. Collins CLERR CiKCUiT COURT = First Federal Savings 8 Loan Association RECORD YfRIF1E0.~.1 ~ of Fort Pierce ~ Florida fEd 99 S? ~H ~~Z F;5 ~,Q ~ C ` Checked By SJ~ ~ ~ 224621 ~ ~ sQO~200 ~ 83 . ~ ~ . ~ ~ - . ~ ~ ~ _ ~ ~ ~ ~ . - . ~ ~ i j _ . *