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Home My WebLink About0738 3. To place and cont~nuously keep on the twi:d~ng~ now or hereafter •Itvate on sa~d lend and on aU equip~ncnt and prrsonally covercd by this mor ag~, wilh all premiums ~hercon pa~d in full, fire insurance in the ~sual •iandard poticy iorm, in a sum approved by the MORa~aAGEE, a~~d w~»dsto ~nsurente in the usual srandard pol;ty form, in • sum approred by tM MORTGAGEE, in 3uch tompany or tompan~es ai the MORTGAGEE m direcl; a~d all fira and w~nds~o~m insurancs policies on any of said bu~ld~nys, any intere~t therein or pa~t thereof, i~ the aggrega~e ium aloresaid in exccss thereof, shaU contain ~he usual standard mo~~gagee c~ause a such o~he~ dauss ai fl,e Mongagee may requ~re, maAing ~he loss under sa~d po c~es, each and every, payabte to said MORTGAGEE as ~ts in~arest may appear, and eacA and every such poi~cy ihall be prompTty asa gned and de~~vrrrd ~ any M!d by said MORiGAGEE as furrher security to said matgage debt, and, no1 leu thsn ten (101 days in advance of Ihe expiraY,on of each po6cy, ~o d. I~ve~ to iaid MORiGAGEE ~ renewal ~hereof, toge~her wi~h a rece~pt fa the pre~nium of such r~newal; and ~heie ahall be no f~re or w~nds+u~~n insuranc p~xed on any of said build~ngs, any intereat therein w pa~t thereof, vnless in tFx form and with the loss payabte as aforesaid; and in the e~enl any sun of money becomet payabte unda such polity or policies said MORTGAGEE shall have ~he option to rece~Ye and apply the u~ne on account o) Ihe indebted ness secured hereby o~ to pcrmit aaid MORTGAGORS 1o rrceive and ust it p any pa~1 thereof fo~ otn~•r purposrs. .v~~hout th~~.o~ wz~~i:~~ o. ~~~~p..ir ing any equ~ry, lien w righl under a by virtus of this mo:!gsge; ~nd in 1ha evero sa~d MORTGAGORS shall ta any reason fail to kecp ~he sa~d premiias so ~nsured, or fail ro deliver promp~ly any of sa~d po~~ue~ of insuronce to iaid MORTGAGEE, or fail promprly to pay fulty any pre~n~um rherelw a in anY respect (ail ro periwm, d~scharge, execute, effect, complete, comply w~~h and ab+de by th~s covenan~, a any pa~~ hrreoi, said MGRTGAGEE may pls:e a~~d pay for such insurance or a~y part thereof w~~hout waivi~g a affectin~ any opt~on, lie~, equ~ty, or right under o~ by virtue of ~his hlortgage, and ~he full amount of each and every such payment shal~ be immediately due end payablr and shall bear interes~ lrom tha date thereof u~iil pu~d a~ the ra?e ot n~ne per centum per ann~m and to~ethe~ ~•~d~ such interest shali be secured by the lien of this mortgage. 4. To ptrmit, commit w suffer no waate, impairment or deterioration of uid p?optrty or ,any part thereof. S. To pay a1L and singulu tM costs, charges and expenses, including a reasonable attorney i fee a~d costs of abstracts of titte, incur.cd o~ paid at any time by said MORTGAGfE, because a in the ev~nt of the failure on the part of ~he said MORTGAGOR to duly, promptly and fuily perform, d~stharge, e:ecute, etfed, complete, comp~y w~th and ab:de by each and every the stiputa~~ons, agreements, cond~tions, and cnvenants oi sa~d pran~ssory note and this morrgage +ny or e~ther, ard uid costs, charges and expenses, each and every, shafl be immedutely due and payable; whe~he~ a not rhere be no~~ce d~ mand, attempt to collect or suit pend~ng; and the full amo~nt of each and e~ery such payment sha~l bear interes~ (rom the date thereof until paid a~ the rore o{ nine per centum per annum; and all sald co:ts, charges ~nd eapenses incvrred or paid, together w~th such {nterest, shall be secured by the I~en of th~~ mortpsge. Q Thal (s) in the event of any breach of this Mwtgage a defavlt on the part of the MORTGAGOR, w(b) in the event any of sa:d sums of money herein referred to be not promptly and fully paid within th~rty (30) days next after the same seve~a~ly betome due arx! payable, without demand or notice, or (c) in the event each and every the stipulations, sgreemenrs, cond~tions and covenants of sa;d promissory note arxl th~s mortgage .any w either are not iu~y, promptly and fully periwmed, d~scharged, eaecuted, eftected, completed, compl~ed with and ab~ded ~iy, then in either or any such eve~t ths sa~d ag gregate sum mentioned in said p~omissory note the~ remaining unpa~d, with inrerest accrued, and a11 moneys securrd hereby, shall become due and pay- able fwthwith, w thereafter, at the option of sa~d MORTGAGEE, as fulty and complerely as ii all of ~he said sums of money were orginally sl~pulated r~ be paid on such day, anything in sa:d prom~sswy note or in this Ma.tgage to ~he connary notwithstand~ng; and thereupon w thereafter a~ ?he op~~on of said MORTGAGEE, w~thout notice w demand, suit at law or in squity, therefore or tAereafte? begun, may be prosecuted as if all moneys secured hereby had matured pnw fo ~ts inatitu~wn. , 7. That in the evcnt that at the beginn~ng of or ~t any time pending any s~~t upon this Mortgsge, or to foreclox it, or to reform i~, or to enforce pnyment of any claims hereunder, said MORTGAGEE shall apply to the Court havinq jur~sd~ction thereof for Ihe appointment of a Receiver, such Court shall Forthwith appoint a receiver of said mortgaged property all and singuiar, includ~ng ail and singvlar the income, p~of~ts, isa~es and revenues from whatever seurce derived, each and every of which, it beirg expressty understood, is hereby mortgaged as ii spec~ficalty set iwth and deur+bed in the g~anr~ng a~d habendum dauxs hereof, and such Receiver shall have all ~he broad and effect~ve funct.ons and qpyr~r~ j~?~~~+ s Sntryated br a Covr~ to a Recei~e~, a~~d s, ch appointment shall be made by such Court as an ad~nitted equity and a matter of abso~ute right to sbid°MO~AGEE, and' wittwut refese~ce to the adequacy o? inadequacy of the value of the p~ope~ty mortgaged or to the so~vency or insolYency ota{*t;~60~t a~ ~he ~deis nts, and that such ~2n!S, profits, incane, issues and revenues shall be applied by such Receiver scco~d~ng fo the ti~?~¢ry~~r~ry,of sai~ll~QQiGAGEE an~the practice of such Court. ~ . . ' t~ .~'j,{.. . t~;. : i 8. To duly, promptly and fully perform, dixharge, execute, effect, complete, comply with snd bbide by each and every tlie stipulalions, agleeme~ts, ~ conditions and covenants in uid promisswy note and this rt:wtgage set fwth_ ` 9. That in the event the ownership of the mortgaged premixs, or any part thereof, becomes vested in s perwn other than the MORiGAGOR, the MORTGAGEE, its successors and au~gns, may, without notice to the MORTGAOR, deal with such successor w successw in interest wi~h reference to thia ~ mortgage and the debl hereby secured in the same manner as with Mortgagw without in a~y ~vay vit~atin~ or d~uhargirg the Mortgagors' liabitity herc under or upon the debt hc~eby secured. No sale of the prem~ses hereby mo~tgaged ar.d no forbearance on the part of the MORTGAGEE w its s~ccessors or assigns and no extension of the time fw the paymenf of the debt hereby secured given by the MORTGAGEE or its successors or au~gns, a~~all operate ro release, d~xharge, mod~fy change or affect the orig:~al liau~i~ty of the MORTGAGOR herein, either in whole w in part. 10. It is specificatly agreed that time is o1 the esse~+ce of this contract and that no waiver of a~y ob~~gat~on hereunder w of the oblgation sr ~ cured hereby sha11 at any time thereafter be held to be a wairer of the terms hereof w of the instrumeot secured herby. ~ 11. In addrtio~ to the fwego:ng month!y paym~nts of prin~ pal and interest req~ired by the prom~ssory note sccured hereby, mortgagor tovenants and agrees to pay to mortgagee v~~th each momh!y psyr,ient an add~r~onal sum est;mafed by mwtgagee to be equal to 1; 12 of the annual cost of the follow- !ng: A-All real property ta:es levied or assessed agai+~st the above described real estate. B-Prem~ums on fire ar.d wi~dstorm insvrar.ce as here~n requ~red to be carried on the ~mproveme~ts s~tuate on the above desaibed premises. C-Premiums on such mo~tgage guaranty insurar,ce as mo+tgagee shall from t~me to time deem fit to car~y on the ban secured hereby. ~ Mortgagee shail from time to t~me norify mcrtgagor in writing of the amount due and payable hcreundrr and such sum shall thereupo~ be due and Fayable en the due date of rhe next month!y payment and eath svcces:ive month thereafter ur.til mortgagee shall notity mortgagor of a change in such 1 ' e~~,ount_ $uch sums s1:a11 be appfied by rtartgagee toward the payment of reat property faxes, insurarxe prem:ums, a~x) morfgage guaraniy insurance i i G:•remiums. ~ . IN WITNESS WHEREOF, the wid MORTGAGOR has hereunto set his hand and seal the day and~ first afaesaid. ? S' ned, Sealed and 1 e~ i the prexnce of: t f EO ANO RfCOR~EO Seat) ~ ^ =~l~~E CO~NTr Fl~ Paul D. Newel l a~~ ' ROCER Pp:TRAS ' - ec~ t5ea~3 ~ CLERR ~:j;;,~tT ~OURT Maurine S. Ne?rell RFCORp YFt~rFtED.~,~~ (~an ~ - a SiAlE OF FIORIDA ~ u.~ 8 38 ~~l1 ~ COUNTY OF St . LilCl@ ~ s s~to.~ ~ penonally appeared Paul D. Newell ~~5I04 ,,,d ~taurine S. Newell ~ his wife, to me well k~own and known to me to be rhe individuafs described in and who executed tF~e foregoi~y inst~ument, and acknowledged before me that they e:ecuted the same fw the purpoief ~ ~herein expressed. And the said Maurine S. Newell ~ +.~fe of the ~~d Paul 1~QWe11 u a se a.ate and nwte ~ Po^ P P _ e.ami~ation by me ta4en separate and apart from her said husband, stknowtedged to and before me that she executed said in~trument freely and volun- ; rardy and without •ny compulaio~, constraint, apprehens:on, or fear of or from I~er said husband. i ~ WITNESS my harx! a~d otficial seal this ~ day of `~rCh A_ D. 19 72 ~ t ~ ~~i 'S'L~~- : ~ ~ Notary Public in ~nd foi the Stat of Fbrida at larye ~ " My Commiuion expires: ~~~/~j'rf~ ~ RNurn To: ~ e first Federal Savings 3 loan Associat;on ~ Of Fort P;erce. _ : ' ~ i Forr Pierce, Florida • . . . 'o%. V y F ~y This Instrument Prepared By John W. Collins ~ _ ~ - First Federal Savings 8 Loan Association ~,..L of Fort Pierce ~ Florida ` ` ~ Checked By ~ di~lf ~ ~ ~ ~ ~ ' ~ ~ :a' ~ - - - - _ _ . , _ ~ sx ~ ~ ~ g~,~-~,'~ V . M ~:ra~ ~„a ~ , ~ ~ ; ~ ;~_-°~,.~~^'`~~~z~ i~ s ~'as~ ~?s~"~