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HomeMy WebLinkAbout0489 3. To place and continvously keep on the bu~'d~ngs now o~ hereafter situate on sa~d :snd and on alt equ~p~~ienl ~nd peno~aliy cove~ed by this mw sgs, w~th all premivms therew~ pa~d in full, fire insurance in ~he usual s~artdard policy form, in s sum sNproved by the MORiGAGEE, and windsto insurante i~ the usual standard po1~q form, i~ a sum approved by the MORTGAGEE, in tuch company or ton+pan~es ~f ~he MORTGAGEE m dired; and all fire and w~ndito~m inau~ance po~~ues on any o( sa~d buiid~~+gs, any imerest the~ein or pan ~hereo~, in the aggreg~~e ?um aforesa~d in exceaf Ihereo(, shatl zonrain ~ha usual s~andard morr9agee clsuse w such oiher clauss as the Ma~gaqro may ~equ~re, making cl+e loss undr~ sa~d po ues, each and every, pa~abte to .aid MORTGAGEE as ~t~ interrst may appear, and each and every such pa~icy shall be promptly aug~ed and del~vered ~ any held by uid MORiGAGEE ~s furit~er security fo sa~d mortgage debt, and, no~ less than ten (10) days in ad~ance of ~he expiration of each pol~cy, to d~ I~ve? to uid MORTGAGEE a renewal thereof, together with a rrce~pt fw the premium of •uch renewal; and ~here ihall be no F~re or wi~idsto~~n iniura~c placed on a~y of said build~ngs, any interest there~n or part thereof, unlesa i~ ?he (orm and w~th the loss payable as aforesaid; and in the eYem any sun of money becomes payable under such policy a polKies said MORTGAGEE shall have the opt~on ro receive and apply the un,e on accoun~ oi the indabtrd nrss secured hereby w ro permit said MORTGAGORS 1o receive snd use it a any part thereol for oth~r purpoars, ~v~ihout th~~~u~ .va~v~.i~ cr u+~pau ing any equity, I~en w r7ght unde~ w by virtue of this mortgage; and in ~hs event sa~d MORTGAGORS sha11 ta any reason fail Io keep the sa~d prem~srs so insured, w fail to drliver promptly a~y of said po~icies of insurance to •aid MORTGAGEE, or faii promptly to pay fully any pre+nium therefw or in a~y ~ respect fail to perfwm, d~scharge, execute, etfect, complete, comply with and ab~de by this cove~ant, or any par~ hareof, said MORiGAGEE ~nay piace a;~d pay for euch insurance w any part thereof without waiving o? ~ffecting any option, lien, equity, or ?~ght unde~ w by virlue of this hlatgage, and the fult ~mount of each and e.ery such payment shall be immed~ately due arx! payable a~d shall bear interest from the date the~eof un~il paid at ihe rate of ~ n~ne per cantum p~ annum and to~ether with such interest shali be srcured by the lien of this mo~igage. ; 1. To permit, tommit or suffer no waste, impairment w deterioration of said property w any part thereof. 5. To pay all and singulu the costs, chargea and expenus, incluoing a reasonable aitorney i fee and costi of abstracts of title, incurred or paid a+ any time by said MOAiGAGfE, because or in the event of the fiilure on the paA of the said MORTGAGOR to duly, pramptly and fully pertwm, d~xharge, execute, etfect, complete, comply with and ab~de by esch and every the stipulations, agreements, conditioni, and covenan~s of said proenissory note and ~hls m«tgape any ot either, and sa~d cosn, charges and e:penses, each and every, shall be immediately due and payable; whe~her or not thrre be nof~ce de , mand, attempt to collect w suit pertd~ng; a~d the full amount of each and e~rry such paymem shall bear interest from the date thereof until pa~d a~ the ~ rate oF ~iru per crnium per am~um; and all uid costs, tharges and expenses incurred q paid, togelher with ~uth interest, shall be setured by the lien of this mortpa~a ~ 6. That (a) in the event of any breach of this Matgaga o+ default on the part o( the MORTGAGOR, w(b) in the event any oE sa;d sums of money ~ herein refer~ed to be not promptly and fully paid within thirty (30) days next after the same severatly betome due and payable, without demand or notice, or (c) in the event exh and every ~he stipulatio~s, agreements, condit~on~ and covenants of sa~d promissory note and th~s mortgage any w eithc? are not iuly, prompHy and fully performed, d:scharged, executed, eifected, completed, compf~ed wi?h a~d abided ~iy, then i~ e~ther or any such evem the sa~d ag- gregate tum mentioned in said promisswy note then rema~ning ~npaid, with i~terest sccrued, and alI moneys secured hereby, shall become due and pay- abfe forthwith, w thereafte~, at the option of said MORTGAGEE, as fully and completeiy as if all of the said sums of money were or~ginally st~puiated to be paid on such day, anything in sa:d promisso?y note or in this Mwtgage to fhe contrary notwithatanding; and thereupw~ or thereafter at the opt~on o4 said MORTGAGEE, without notice or demand, suit at law w in equity, therefae or thereafter begun, may be prosetuted ss if all mo~?eys secured hereby had matured pnw to its institvtion. . 7. That in the event that at the beginning of w at any time pending any suit upon this Mortgape, or to fweclose it, w to re~orm it, or to enforce payment of any claims lureunder, said MORTGAGEE shall apply to the Court having jurisd+ction thereof .tor tlro appa~Ratnt, of, ~ RKeiver, such Court shail forthwith appoint a receiver of said mo~tgaged property alI and singular, includ~ng all a~d singular fhe income, p?ofits~ wsuos and revenues fran whate~er :o~rce derived, each and every of wh~ch, if be~ng expre:sly ur+derstood, is hereby morrgaged as if sprcilically set fa~h and deuribed in the yranfing and habendum tla~ses hereof, and such Receiver shall have all the broad and effective funct~ons and powers in anyw~se enlrusted by a Cqurt;to~. Rc[eiver, and acch appointment shall be made by such Court as an admitted equity and a mane? of absoiute righf ro said MORTGAGEE, and w~thout reference to the edaquaq or inadequaty of the value of the property mortgaged or to the soivency w~nsolvency of said MORTGAGOR a the defendants, and fhat such renrs, profits, incane, iuues and revenves shall be applied by such Receiver accord~ng ~o the lien w equity of uid MORTGAC~EE and the practice of such Court. 8. To dvly, promptly and fully pe?fwm, discha~ge, exccure, effect, complcte, comply with and abide by each and every the stipulations, agreements, conditions and covenants in sa~d prom~isory note and this mortgage set forth. 9. That in the event the ownership of the mortgaged prem~xs, w any part thcreof, becomes vested in a perton other than the MOR7GAGOR, the MORTGAGEE, its successws and assigns, may, withouf notice to the MORTGAOR, deal with sucfi succeua or successor in interesf with reference to this mo.tgage and the debt hereby setured in the same manner as with Mortgagor without in any way vit~ating or d~xharging tF~e Mortgagors' liability herr under u upon the debt hereby secured. No saie of the Fremises hereby mortgaged and no forbearance w~ the part of the MORTGAGEE or its successors ~ or assigns and no eatension of the time fw ihe payment of the rlebr hereby sec~red given by the MORTGAGEE or its successws or au~gns, ~Sali operate ro releax, discharge, modify thange w affecl the original liab:lity of the MORTGAGOR herein, either in whole ot in part. 10. It is speufically agreed that time is of the essence of this contract and that ~o waiver of any obligat~on hereunder w of the obtigation se- cured hereby shall at any tirtx thereafter be held to be a waiver of ihe terms hereof or of the insfrument secured Fxrby. 11. In add~tion to the fwego'ru~ monthly payments of princ'pal and interest required by the prom~swry nore secured hereby, morlgagor covenants and agrees to pay to mortgagee with each monrhly payroent an add~iional sum es~~maied by mortgagee to be equal to 1/12 of the annuai cost of the follow- ' ing: i A-All real property taxes ievied or assessed against the above described rea! esrate. , ~ ~ B-Premiums on f~re and windstorm insurance as he~ein requ~red to be carried on the improveme~ts situate on the above dtscribQd pr~mises. ~ .e..~~;+~:~., . i C-Premiums on such mortgage guaranty insurar~ce as mortgagee shall from t me to time deem fit to carry on the JoAI? ~.~~r, ~ Mortgagee shail from time to time notify mortgagor i~ writing of the amount due and payable hereundrr and such ~ '~li due snd F~yable on the due dare of the ~ext month:y payment and each successive month thereafter ur.til mortgagee shall nofj~y;~ agdt• , s;~~ in s~ch ~ amouM. Such sums shail be applied by mortgagee toward tne payment of real property taxes, insurarxe prem:uma~~ `mortgage ~y a r s b~''uiwrance 4 premiums. ; ~ . WITNESS WHEREOP, the said MORTGAGOR has hereunto set his hand and seal the day and yea ir afa?~{sil ~ ~ ~ed. Seat a deliv ed in the presence of: 1~E1. ~ ~ • fILEO ANO RECORDEO BY: ~ = A`; ~ ,q ~ ST.lUC1E COUNTY fLA. ~ s _4 ~ . ~ ~ ~ qOCER r'OiTRAS t~a~ ` ~ ! ' CIERK CIitCU1T COURT ~q ~ ~ PFCOR!? VE°.~FtED (Seaq ~ i~wt i._ 3 is PN'TZ - - . a ~ z;~91s STATE OF FLORIDA COUNTY OF ST. LUCIE ~ 1 HEREBY CERTIFY, That on this day of ~=ch , A.D. 19 72 , ~ Kelly Hall ~ before me personally appeared ~ ~ as president ~ ~e~te3ae~ , of H Ke lly Construct ion Company a Flor ida Corporatior~, to me known to be the persorl~ described in and who executed the foregoing instrument, and-s~~y acknowledged the exe- ~ cution thereof to be f~+eir free act and deed as such officer/ for the uses and pur'oses therein mentioned; and that they affixed thereto the official seal of said corporation, and ihe said instrume~t is the ad and dee~~o~`.s~M corporation. ~ WITNESS my hand and official seal at Fort Pierce % , said county and :tat~~ ~ . ^ , ~ This instru~ent prepared by ` r,' John W. Collins Notary Public, in and for State a/~!'~`ounsy ~oiesaid. _ Ritst Federal Savings and Loan My Commission Expires~pTARYPyetIC.S't9TEet~4~R~~~~RGE j =s: Association of Fort Pierce, Florida My ~pMy}, ~~N~ D~tv~r~s Pi. Y5. 1915 ,A g~~ gy A?rrhncpJ; Bankets l~aurince ~.o. 7+ . • Checked By ~ BOuK ~ P11CE 'E _ r • ~ i f _ . ' _ . . . _ _ . . ~ ? _ y a~ ~ ~ -~~'s. r . +s ,~s.,= ri ~ ~ar„ ~ „a,~~~;: ?ar..~. . z ~.._~r. . . _ :~s- ~ x.