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HomeMy WebLinkAbout0495 9. To place and continuously keep on ~he bu~:dings ~ow a hereafte? ~ituate on said lend and on all equipmeM and per?on~~~Y ~oveied by this ma sgs, w~~h all premi~m~ ~hereon pa~d i~ full, fire ins~rance ~n the wual •tandsrd po~icy form, in a sum sppiov~d by the MORIGAGEE, and w~~~ds~o ~nsurant~ in tM uswl ttandard pol:ty form, in ~ sum approved by tht MORTGAGEE, in ~uch company or tanpanies ai the MORTGAGEE m diretl; •nd all .fire and wirtdstprm insu~a~ce po~~ues w+ any of said build~r~s, any intera~l therein o? pul the~eoi, in Ihe aggreysie sum aforesaid in exces~ Ihereof, shall ta+tain tM+e usual standard morlgagee dauie w such othe~ clause ~s the Mongagee may requ~re, making tF~e loss unde~ sa~d po ues, each and every, payable to said MORTGAGEE as its in~e~est may ~ppear, and each and eve?y iuch poi~cy shall be promptly ats gned and de~iverrd + any held by said MORiGAGEE as furihe~ security to said mor~gage dabt, end, not less than ten (10? days in advance of the expira~~on of each pol~cy, to d~ Gver to iaid MORTGAGEE a renewal thereof, togeiher w~~h a receipt fw the premium of such renewal; and there shall be no fae or windsto~m insuranc placed on any of said build~ngs, any interest ~here~n or part thereof, unlesa in ~he form and wifh the loss payable as aforesaid; and in the event any sun oi money becomes payab~e under such policy a policies taid MORiGAGEE shall have the opt~on to rece~ve and apply the iame on accoum of the inJeS~ed ness secured he~eby w to permit uid MORiGAGORS to receive and use it o~ any part ~hereof for osne~ puiposes, v~~~ho~t fh:r~u~ w~iving u+~pau irg aoy equ~ty, lien w r~ght under w by virtus of thii mo::gage; and in tht evenf tald MORTGAGORS shall for any roasa? fail to keep the sa~d prem~ses so ~ni~red, w fail ro deliver promptly any of said potKies of insurance to sa~d MORTGAGEE, w fail promptly to pay fulty any prem~um ~herefw or i~ anY respecf fail to pe~fam, d~scharge, execute, effect, complete, comply with and ab~de by this covenanf, or any part hareof, aaid MORTGAGEE may p~ace a~o pay fw auch insurance or any part thereof without waiving a affedinq any option, lien, equity, or right under o~ by virtue of ~his Matgage, and tht fvll amovnt of each :nd every wch paymem shatl be immediately due and payable ~nd shall bear interest from the date thereoi until pa~d at the rate o! n~ne per centum pa annum and to~e~he? with suth interest shali tx ucured by the lieo of th~s mort9age. 4. To pamit, commit or sufter no waste, impairment w deterio~ation of said properry w a~y part thereof. 5. To pey all and singulsr ths costs, chargef and expenses, including a reasonable attwney i fee and costs of abstracts of ti~te, incur.ed or paid at any time by aaid MORTGAGfE, because a in the event of the fa~lure on the part of ~he said MORTGAGOR to duly, promptly and fully perform, d~uharge. eaecute, etfect, compkte, comply w~th and ab:de by each and every the stipula~~ons, agreements, conditio~s, and covenanrs of sa~d prom~ssory ~ote and ihis mortgage any w either, and sa~d costs, charges and expenses, each and every, ihall be immediately due and payabfe; whether a not there be notice dr mand, attempt to collect or suit pend~ng; and the f~ll art+ount of each and every such payment shall bea~ interes~ from the date tF+ercwt until paid at the .ate o~ nine pe~ centum per amium; and a~l said coats, charges and expe~ses inturred a paid, together w~th such interest, ihall be tecured by tF?e I~en oi thit mortpage. 6. Ths~ (a) in the event of any breach of this Mortgage or default on the pan of the MORTGAGOR, or (b) in the event any of ss+d sums of money herein referred to be not promptly and (ully paid within thi.ty (30) days next after the same severafly become due and payable, without demand or notice, cr (c) in the event each and every the stipulations, agreemcnts, conditions and covenants of sa;d p~omissory note and th~s mort~age any or ei?her are not ~uty, promptly a~d fuily perfwmed, d~uharged, ezecuted, effeded, completed, compl~ed with and abided by, then in e~ther w a~y such event the sa~d ag- gregate sum mentioned in said promissay note then remaining unpaid, with interest accrued, and all moneys setu~ed hereby, shall become due and pay- able forthwith, a the~eafter, at the option of said MORTGAGEE, as fully and comple~ely as if all of the said sums of money were or~ginally st~pulated ro be paid on-such day, anything in sa;d promiuwy note or in this Mwtgage to the contra~y notwithsta~ding; and thereupon ot thereafter at the option of said MORTGAGEE, w~thout notice o~ demand, suit at law o~ in equity, therefore or ~hereaiter begun,'iAay~t~ prosecuted as if ~II moneys setured hereby had rtfatured pnor to its institution. „ • rt ~ 7. That in the event that at the beginning of w at any time pending any suit upo~ th~s Mortyaye, or'to~Faecbse i1, o~ to ryform it, or to enforce ~ paymeM of any claims he.eunder, aaid MORTGAGEE shall apply to the ~ourt having jurisd~ction'thQ[~1 fo( t1~e appoinl~rieM'of p Receiver, svch Courf shall forrhwith sppoint a rece~ver of said mortgaged property all and singular, includmg all and singular the ?ic~me, profit!`, 1s~yes and reJ~n e}~rw+~ whate~er :ource derived, each and every of wh~ch, it be~ng expressly understood, is hereby mo~~gaged as if speufecally set fatk snd detai~ in~itie granring and ~ habendum clauxs hereof, and such Rcceiver shall have alt the broad and effective funcr;ons and po.vers i~ anyw~se entrusted~bjr a Court to a Receiver, and ~ such appointment shall be made by such Court as an admitted equity and a matter of absolute right to said MOAiGAGEE, '~nd witheut relerence to the adequaq a inadequacy of the val~e of the p~ope.ty mortgaged or to ihe soivency or ~~sotvency o( said MORTGAGOR w the defendants, and that such ~ rems, profits, iocane, iuues snd revenues sha~l be applied 6y such Receiver accord~ng to the lien w equity of said MORTGAGEE and the practice of such ` i Court. 8. To duty, promptly and fully perform, dixharge, execute, eifect, complete, co-nply with and abide by each and every the stipulatio~s, agrcements, conditions and covenants in said promissory note and this mortgage set forth. 9. That in the event the nw~ership of Ihe mortgaged premises, w any part thereof, becomes vested in a person other than the MORTGAGpR, the MORTGAGEE, it~ succeuws and ass~gns, may, without nofice to the MORTGAOR, deai with such succeuor or successor in interest with relerence to this mortgage and the debt hereby secured in the same manner as with Mortgagw without in any way vi?iating or diuharging the Mo~tgagors' tiability herr under w upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the paA of the MOR7GAGEE or its successors o: ass'~g~s and no extension of the time fw the payment of the deb~ hereby secu.ed g~ven by Ihe MORTGAGEE or its successors w ass~gns, a~wll operate ~o release, dischargt, modify change or affect tbe original liabifty of the MORTGAGOR herein, either in whole o? in part. 10. It is spec~ficalfy agreed that time is of the essence of th~s contract and that no waiver of any obligation hereunder o? of the obligaYan se- cured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the instrument secu?ed herby. 11. In add:tion to the forego ng monthly paymenrs of princ'pal and interest required by the prom~ssory no!e secured hereby, mortgagor covenants n^d agrees to pa~ to mo:tgagee w~th each monthly payr,~ent an add~r+onal sum estln~ated by ~noctgagee to be equai to 1/12 of ttie annual cos~ of the follow- ing: A-All real property taxes levied or assessed agai~st the above described real estate. ~ B-Premiums on~fire and windstorm insurance as herein requ~red to be carried on the improvemenrs situate on the above described premises. ' C-Premiums on such mortgage guaranty insurar:ce as mortgagee shall from t:me to tirne deem fit to carry on the loan secured hereby. ~ /Nwtgagee shall from time to t~me notify mortgagor in writ~ng of the amouM due and payable hereundrr and such sum shetl thereupon be due and ~ ~ ~3yable on the d~e date of the ~ext month!y payn,ent and each successive month thereaiter ur.til mwtgagee shall notify mortgagor of a change in such R a~-:ount. Such sums sF.all be app!ied by martgagee toward tne payment of real property taxes, insurance prem:ums, an~ rtwrtqage guaranty insurance 5 oremiums. ' IN WITNESS VVHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and year firsf aforesaid. ' y Si9nt{!, sled drliv in the prescnce of: r ~ ~ y i5ea4 ~ ~ ~ (Seaq ~ ` y (Seaq ~ 3 STATE OF fLORIDA ' ~ couNn oF St . L uc ie j~' Before me personally appeared MOSCS Eady and ~ ~ ~ ' F_dlttt Eadv his yvifr, to me well known and known to me to be the individuals described in and who executed the fue~oing instrumeM, and acknovrledged before me that they executed the same for the purposes ~ rnerein expressed_ And the ieid Edith E~dy irbses Eady ~ ,v~fe of the said upon a separate and pr'rv~t~ examination by me taken separate and apart from her said husband, scknowledged to end be~ore me that she executed ssid instwment freely and vot~o- ~ ranly and without any computsion, constraint, apprehens a ar of or from her said hvaband. ~ t WITNESS my hand and official ual this day of A. D. 1972 x - T ~ ~ / f ~t~ - N~ ary Public in ~ P for the~ate . Florida at l~rye - ` M Commission s: ires: ~~j~T~~br _ Retum To: et~ ` , - , First Federal Savings 3 loan Associatio~ Of Furt P~erce. ~ ~ ' i . : ~ t f i : fort Pierca Florida ~~(,1 R ~Q1~~ : %~~v r, ;~.~IE G~t~T~ RaCEii POt~IU~ _ ~s• O e ~ _ ~ ~s CLERK C~a~Wt COMRT ~ : = Rf.C4RD VEgtFlfb~ This Instrument Prepared By J. H. ROberts~ Jr. Y~'•.,,r~ " = First Federal Savings & Loan Association ~ ~ ~ ~ ~ 1~~ of Fort Pierce~ Flori~a rT! 24919 . = c~,~k~ sy 'Z k go~K 200 P~~E 495 t} . ~ ~ _ . - - ~ _ - = Jg ~ r ~ ~ ~ ~ _ _ _ _ . _ . ~ _ : ~ .r~_ _ .