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HomeMy WebLinkAbout0365 3. To place and continuously keep on the bui:dings now or ~ereairer ~~tuats on said land and on all equipmen? end personaily cove~ed by this ma ~ ege, w~th all premivm~ ihereon pa~d ~n f~ll, Gre insurance ~he vsual Ltandatd ppliCy form, in a sum appro~ed by the MOR~~AGEE, and w~nds~o ~ tnsvrance in ~he usual s~anda~d pol~cy form, in a suin approved by ihe MORTGAGEE, in such company o~ compan~es as the A102TGAGEE m ; d~red; and all fire and w~rxlstorm insura~ce pol~c:es on any of said bu~id~ngs, any interest therein or psrt thereof, in Ihe aggregare sum ~foresaid ; in •xces~ 1he?eaF, shall conta~n the usual standard mor~gagee clause or such other clause as the Mortgagce may requ+rs, ma~ing the ~oss unde~ s.~~d po ~ cies, each and every, payable to said MORTGAGEE at its interrst may appear, and each a~d eve~y such po~~cy shalt be promptly asa gnzd snd de~~verrd : sny held by said MORiGAGEE ss further security ro sa~d mwtyage debt, and, not` lesi than ten (10) days in ad~a~xe of the expiration of ~ach poi~cy, to d~ ! I~ve~ to said MORTGAGEE s renewal the~cof, Iogerher with a rece~pt for the premium o( such renewal; and ~here shall be no i~re or w~nda~or~n ~nsuranc placed on any of :aid build~ngs, any interest there+n a part thereof, unlesa in the form and with ihe loss payable as aforesa~d; and in ~he event any sun of money becornes payable under iuch policy o~ poGcies said MORTGAGEE ~hall have the opt~on to receive and apply fhe ume on account of ~he indabi~d ness secured hereby or to permit ia~d MORTGAGORS ro receive and use it w any pa~t thereof for ot6er purF.oses. ~v~~~c.,t ~h: u; .w~.i c~ ~~~~pa~~ ing any equity, I~en w right under w by virtue of this mo:tgage; and in the event sa~d MORTGAGORS ahall for any ~eason fail to kzep ~he sa~d prem~ses so ~nsu~ed, w fail fo deliver promptly any af said policies o( insurance to said MORTGAGEE, o? f~i! promptly to pay (ulty any pre~»ium therrfo~ or in anV respect fail ?o perfwm, discharge, eaecute, eifect, tomp~etr, tomply with and abide by this cove~.+nt, or any part hareof, said MGRTGAGEE may place a~tl ~ pay fa such insurance w any part thereof w~thout waiving or affecting any option, lien, equ~ty, or righf under or by virtue oF ihis Mortg~ge, and ~he full amovnt of each and eve~y such payment shall be immediately due and payable and shall bear interest from the date thereof umil p~~d at the rafe ol n~ne per centum pe,v annum and to~ether wi~h such imerest shall be srcured by the lien of ~his mortgage. ~ To permit, tommit w sutfer no waste, impairme~t w deterioration of taid property w any part thereof. S. To pay all and singulsr the costs, charges and expe~ses, inctuding a reasonab~e attorney's fee and costs of abstracts of titte, incurred o~ pa~d a~ any time by said MORTGAG:E, because w in the event of the failure on the pan of the aaid MORTGAGOR to duty, promptly a~d fully perform, d~scharge. execute, e(fect, complets, comply w~th and ab~de by each and every the atipulations, agreements, condifions, and covenants oi sa~d pro~~~ssory note and ih~s mwtgage any w ei~he?, and sa~d costs, charges and eapenses, each and every, shall be immediately due and payable; whethe~ w not ~here be nor~ce dc mand, attempt to collett w suit pend~ng; and the full amounl of each and every such payment shall bear interest from the date thereof until paid al the r~re o4 nine per centum per annum; and all said tosts, charges and expensei incurred w paid, together w~th such interest, ahall be secured by the lien of th~s morfysgs. { 6. That (a) in the event of any breach of this Mortgage or default on rhe part of the MORTGAGOR, or ;b) in the event any of satd sums of money herein referred to be not prunptty and fully paid wi~hin th~~ty (30) days next after fhe some severally becane due and payabte, wi~h.~ut demand or not;ce, or (c) in the event each and every the stipulations, agreements, co~d~eions and covenants of sa,d promissory note and th~s mortgage any or either are not i~ly, promptly and fully pertwmed, d~xharged, execured, effected, complered, compl~ed w~th and ab~ded 5y, then in either w any such event the sa~d ag- gregate sum mentioned in sa~d promissory note then remai~ing unpaid, with interest accrued, and a11 moneys secured hereby, shall become d~e and pay- able fwthwith, or thereafrer, at the oprion of said MORTGAGEE, as fully a~d completefy as if all of Ihe said sums of money were oi~ginaily s~~puiated ro be pa~d on s~th da~/, anythirg in sa;d prom~ssay note w in this Mortgage to the con~rary notwiihstandug; and thereupo~ w thereafter at the opt~on of sa;d MOR~GAGEE, without notice or demand, suit at law ot in equity, there(ore or thereafter begun, may be prosecuted as if all moneys secured hereby had maWred pnw /o its inst~tWion. ' 7. That in Ihe event that at the begi~ni~g of w af sny time pe~ding any suit upon this Mortgage, or to' fwedose if, w to retorm it, or to enforce paymeM of any tlaims hereunder, said MORTGAGEE shall apply to the Court having jur~ad:ction thereof fpr the appointment of a 8eceiver, such Gourt shall forrhwith sppoint a receiver of said mortgaged propeAy all and singular, inctud~ng aIl and sing~Iar the income, prof~u, issues and revenues from whatever source derived, each and every of wh~ch, it being expressly undersrood, is hereby mortgaged as if spec~i~cally set forth and described in the granting and haberw-lum clauses hereof, and such Reteive? shall have all the b+oad and effxtive funct:ons and po•.vers in anywise entrusted by a Court to a Receiver, and s~ch appointmeM shall be made by such Court as an admitted equity and a matter of a~soiute r~ght to sa;d MORTGAGEE, and withe~t reference to the aJequacy or inadequacy of the vatue of the property mo.tgaged o~ to the so,vency or ~nsolvency of said MORTGAGOR or the defendants, and that such renrs, profin, intane, issues and revenue~ shall be applied by such Receiver accord~ng to the lien or eq~ity of uid MORTGAGEE and the practice of such CouA. 8. To du1y, promptly and fully perform, discharge, execute, eifect, comptete, comply with and abide by each and every the stipulations, agreements, conditans and covenanrs in sa~d p?omisswy note and this mortgage set fath. 9. That in the event the ownersh~p of the mortgaged prem;ses, or any part thereof, becomes vested in a person other than the MORSGAGOR, the MORTGAG~E, its successo~s and aisiqns, may, without notice to the A10RTGAOR, deal with such successa or successor in interest wi~h reference to this mortgage and the debt he~eby secured in the same manner as with Mortgagor without in any way vitiating or d~xharging the Mortgagors' liability here- unde~ or upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbeara~ce on the part of the MORTGAGEE or its successors or assigns and no extension of the time fw the payment ot the debt hereby sxured given by the MORTGAGEE or its successors w ass~gns, a~wll operate to re~ease, discharge, modify change or affecf ihe orginat liabil;ty of the k10RTGAGOR herein, eiiher in whole u in part. 10_ It is speul~calty agreed that time is of the essence of this contract and that no waive? of any obl~gat~on hereunder or of the obligation se- cured hereby shaU at any time thereafter be held to be a warver of the terms hereof or of the instrument secured herby. 11. In addrtion to the forego'ng month!y paymants of princ pal and inferest required by the prom~ssory no!e secured hereb~, mortga~or covenants and agr~s to pay to mo:tgagee w~th each monthfy payr.,em an add~rional sum est~mated by mortgagee to be equal to 1; 12 of the annuaLcost of the foliow- ing: A-All real pro~erty taxes levied w assessed aga~•~st the above described real esrate. B-Prrm~~ims on fir~'and~windstorm insurar.ce as here~n requ:~ed to be carried on the ~mproveme~ts situate on the above descr~bed premises. C-Premiums on such mwtgage guaranty insurar,ce as mortgagee shall from. t~me to ti~ne deem fit to carry on the loan se:ured hereby. Mwtgagee sha!I from time to time notify mortgagor in writing of the amo~~t due and payable hereundrr and such sum shatl thereupan be due and Fayable on the due date of the next monthty payment and each successive month thereafter until mortqagee shall not~fy mortgagor of a change in such amount. $uch sums sF.a~l be ~pptied by mortgagee toward the payment of real property taxes, insurance prem:ums, a~~d mortgage guaranty insurance p~emiums. ~ IN WITNESS lYHE OF, t id MORTGAGOR has hereunto set his hand and seal the day and year first aforesaid. ; ' ntd. Se led. d liver n the pr sence of: ~ j i Ar . O O ~ (~al) ~ c5ea0 (Seaq ~ es . o or ~~ai~ ; t ' STATE OF FLORIDA 1 ~ couNnr oF St . Luc ie : € eefwe me penonally appeared wrthur E. COIIIfOIt and Aynes 1~ CO~OIt his wife, to me well k~own and known to me to be ~ the ind~viduels described in and who executed the foregoing instrument, and ecknowledged befwe me that they executed the same for the purposes ~ rherein expressed. And the said Agnes 1• COIA.~OYt ~ w~fe of the said Arthur B• CO~OZt u f t rat aod at~ Pa? ~ t Pa ~t Pm a e¦amination by me taken separate and apart from her said husband, acknowtedged 'o and before me that she executed said inshuml~~,~t~d +~Olun~ rarily and without any compulsiw~, coostraint, apprehen~o~ or fear of w from her said husbsnd. 1?_; ;Y . - ? ~ WITNE55 my hand and offidal xal thia ~ day of ~rCh A. D..19 ! ~ No ry Pubtic in ~nd i t S1at~'.df fhtidr at Larye ~ - - My Comm~ssion expiref: - = Re!um To: M ` ~ ~ ~ s Fint Federal Savi NOTARY PUBLIC STATr r* Fl- ^ ~'~T ng• 3 loan Aisociation O( Fort P:e~ce. MY COM~fA1S+S1G~! EXoi;z-;, ~:x, j,i i~s GENERAL INSURANCE Ut~DE' R1T~S,rUlb«' , , • Fort Pierte, Florida ~ ~ i"• ~ r~~EO ~NO aECOROEI~ , =t. ~~CIE COUMTY F~ F _ This Instrument Prepared By John W. Collins ROCER PO?TRAS - First Federal Savings b loan q~ ociati n CIERK C:~CUIT COURt of Fort Pierce ~ FlOri~a aECOao vEr.,fIEO ~ Checked By ~ut 3 t2 3i PM ~ 21G?`fV~ > . . ~ ~ , ~ ~ # , - . - v ~ ~ ~ ~ ~ " ~ ~F~ ~ ~'y?'"^z~,~ ~~i4f~~"7r' -,f'~ C s^w k ~ , . ~ ~ f s~ ~ Y yc y~ ~.~~~~~qy " ~~'".~~r'l~-~,.r~ .~~~'~~:tr+~~~v~ia"~~ ~~'4 . . ~ { -.-.)~.~.~;":C^~'`.._....,~~.~i'.