HomeMy WebLinkAbout0746 3. To plac~ and cominuous~y kcep on the bui!d~ngs now or hereafter ~ituate o~ faid land and on all equipnent and persona~ly covercd by this mw
egs, with all ptemiums theteon pa~d in f~ll, (ire insurante in the vsuel standard policy form, in a sum spproved by the MORfGAGEE, a~~d windsto
insurance i~ Ihe usua) srandard pol~ty fo~m, in a sum approved by the MORiGAGEE, in suth compa~y o~ tompanies as the h~ORTGAG[E m
d~rec~; ~nd all fire and wlnda~orm insura~ce poliues on •ny of sa~d build~ngs, s~y in~ere~t the~cin o~ pa~t thereof, in the a9gregs~e sum afwesaid
in e.ecess ~heroof, s?wll contain the u~~al standard mor~gagee clause or such oeher clause es the Matgages may requ~~e, making Ihe loss u~~rr ia~d po
c~es, each and every, payable ro said MORTGAGEE as its interrst may appear, and eacA a~d every such po~icy shall be promp~iy ass 9ned a~~d de~rverrd ~
any held by said MORTGAGEE as (urther sewrity to said mor~ga~a debt, and, not less than feo (10) days in advance of the ezpiration of each policy, to d~
tiver to said MORiGAGEE a r~newal thereof, Ioge~her with a rece~pt for the pramium of sutA renewal; and the~e shail be no f~re or windstorm insuranc
plsced on ~ny of said build~ngs, ~ny infe~cs~ the~e~n o~ par~ thereof, unless in the form and with ihe toes payable as aforesaid; and in the event any sun
of mo~sy betome~ payable unde~ such polity w policies said MORTGAGEE shaU have the opt~on to reteive and apply the same on account of Ihe inde~ted
neu secwed hereby w to permi~ sald MORTGAGORS ~o receive and use i~ or any part thereof for orhe. aurpases. ~v~iho~t ~h~rrb~ .va~~~ cr ~~~~p~~~
~ng any equity, lien w right under or by virtue o( this mo::gage; and in ihe evcnt uid MORTGAGORS shall fa any reason fail to keep the aaid prem~ses so (
insured, pr fail to deliver promplly any of said polities of insurance to said MORTGAGEE, or fail promptly to pay fuliy any pre~niu~n thcrefor or in a~y
respec/ fai) 1o per~orm, discha~ge, execute, effed, complete, comply wi?h and abide by this covenaN, or any part hareof, sa~d MORTGAGEE may p~ace a:~o
pay for such insurance or a~y part thereof without waiving or affecting any op~ion, lien, eqvity, a righl unde~ or by virtue of ~his Moregage, and thc
full amouN of each and every ~uch payment shall be imrnediately due and payabte and shall bear interest from the date thereo( un~il pa~d a~ ~he rate of
n~ne per centum per annum and to~ether v~•ith such interest shali be srcured by the lien of this mortgage.
1. To permit, mmmit w suffer no waste, impsirrtxnt w deteraration of said property or any part thereof.
5. To pay all and singulsr the costs, charges and expenxs, includ~ng a reasonable attorney i fee and coats of ab~tracts of title, incurred or paid at
any time by said MORTGAGEE, bKause or in the event of the failure on ths part of the said MORTGAGOR to duly, promptly and fully perform, d~scharge,
execute, effect, complete, comply w~th and ab:de by each and every the stipulat~ons, s9reements, cond~uons, and covenaros of sa~d pran~ssory note and th~s
mortgage any w either, and sa~d costs, charges and expenses, each arxi every, shall be immediately due and payable; whether or not there Ix no~~ce de
mand, attcmpt fo tollect or suit pending; and the full amount of each and every such payment shall ixa~ interest from the date thereof until paid at th~
rate of n;ne per centum per annum; arw atl said costs, cha~gea and expenses inturred o~ paid, together w~th such interesf, ihall be secured by the lien of Ihis
mortyags.
6. That (a) in the event of any breach of this Mortgage or default on the part of the MORTGAGOR, w(b) in the event any of sa;d suma of money
herein ?eferred to be not promptly and fully paid within thuty i301 days next after the same severa!ty become due and payable, withou~ demand or notice,
or (c) in the event each and every the stipulations, agreements, cond~~ions and covenants ef saFd promiswry note snd th~s nw~tgage any or either are nol
~uly, promptly and fully performed, d~uharged, ezetuted, ei(ectcd, completed, complied with and ab~ded ~ay, then in eithe~ w any such event Ihe sa~d ag
gregate sum menrioncd in said promissory note then remaining unpaid, with interest acccued, and atl moneys secured hereby, shall become due and pay
able forthwith, or therrafter, at the option of said MORTGAGEE, as futly and complete~y as if all of the said sums of money were o~ig~na:ly st~pulated
ro be pa~d on such day, anything in sa:d promisswy note w in this Mortgage to tFx contrary ~otwithstsnding; and thereupon w thereafter at the oprion of
sald MORTGAGEE, w~thout not~ce w demand, su~t at law w in equity, the~efore w thereaite~ begu~, may be ~tosaaAe~.af ,i6 ~I! rtwoeys secured hereby
nad matured p:~ot fo its inslitution. . . . . ' '
7. That in the event that at the beginning of w at any tir~ pending any suit upon this Mortgage, or ta ~eclqse it, w fo reform it, w to enforce
payment of sny claims hereunder, said MORTGAGEE shall apply to tix Court having jur~sd~ction thereof (u the, appointmeM of s Receiver, such Court sM~~
fcrrhwith appoint a receive~ of said mortgaged property all and singular, i~cludmg aIl and singular the income, ¢~efits, issues and revenues from whatever
seurce derived, each and every of wh~ch, it being expressly understood, is hereby mortgaged as if speu(~cally set forlh and described in the granting and
habendum dauset hereof, and such Receive. shall have all the b.oad and effeaive funct~ons and powers in anyw~se entrusted by a Cou~t to a Receiver, and
s:ch appointmenf sha11 be made by such Cov~t as an admitted equity and a matter of absolute right to said MORTGAGEE, and wirhout reference to ~he
edequacy w inadequacy oi the value of the property mwtgaged w to the so+ve~cy or insolvency oi said MORiGAGOR d the defendants, and that such
re~~s, profits, incane, i:sues a~d revenues shall be applied by such Receive? accord:ng to tF+e t~en or equity oi said MORTGAGEE and the praU~ce of such
Court.
8. To duty, promptty and fully pe.form, discharge, execute, effect, compiete, compty w~th and abide by each and every the stipulafions, sgreements,
conditions and covena~ts in sa~d promis~ory rwte and this mortgage ser forth.
9. That in the event the ownersh7p of the mortgaged prem~ses, or any part thereof, becomes vested in a perwn other than the 1~10RiGAGOR, the
h10RTGAGEE, its successws and ass~gns, may, without no~Ice to ~he MORTGAOR, deal wish such successw or successw in interest w~th re(ere~ce to this
mortgage and the debt hereby secured irf the same manner as with Mo~tgagor without in any way vitiating or d~xharging the Mortgagori liability herr
undcr or upon the debt hereby secured. No sale of the Fiem~ses hereby mo~tgaged artd no forbearan~e on the part of the MORTGAGEE w its successors
or assigrn and no extension of the time for the payment of lhe debt hereby secured given by the MORTGAGEE or its successws or ass~gns, shafl operate
to rclease, dix!»rye, modify change a affect the origmal tiabJ~ty of ihe AfIORTGAGOR herein, either'in whole or in part.
10. N is speuf~catty ag~eed that ~ime is of the essence of this contract and that no waiver of any obtigarion hereunder w of the obtigation se-
cured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the instrument tecured herby.
11. In add~tion to the fwego:ng monthly payments of prin~ pal and interest required by the prom~swry note secwed hereby, mortgagor covenants
and agrees to pay to mortgagee with each monrhiy payrnent an add~rionsl sum est~n;ated by mor~gagee to be equal to 1 j 12 0( the annual cost of the follow-
~~9_
A-Alt real property taxes levied or assessed ag3i~st the above desc~ibed reat estate.
B-Prem~ums o~ fire and windstorm insu~ar.ce as here~n requ~red to be carried on the ~mproveme~ts situate on the above desc•ibed premises.
C-Vremiums on such mortgage guaranty insurar~ce as mortgagee shall from t~rru ro time deem fit to tasry on the ban sec~red hereby.
~ Mo~tgagee shall from time to t~me notify mortgagor in writing of the amount due and payable hereundr? and such sum shaH thercupon be due and
c avabte on the due date of the next month!y payment and each successive month thereafter ur.til mortgagce shal) not~fy mortgagor of a change in such
~ a•~o~nt. $uch sums sHall be applied by morrgagee toward the payment of real property taxes, insura~ce prem:ums, a~xl mortgage pvar~niy insurance
~ u•emiums. , .
; IN WITNESS WNEREOF, the saed MORTGAGOR has hereunto ut his hand and seal the day and ear first aforesaid.
~ Siyned, Sealed and deliv in th ,~presence of O~AL P Llrt ?1~NTS' INC•
~ BY: ~ ~
~ ~ Nicholas Vitkov Cht eside~R.
a
~ ATTEST :
' - - - - - - - - - - - '~(Seal~`
~ Alexander H. Matz~ Secretasy_.+
~ ?reaau=es
~ STATE OF FLORIDA ~d COUNTY OF 5T. LUCIE ' ,
s I HEREBY CERTIFY, That on this - day of ~rch , A.D. 19~,
~ Nicholas Vitkovich Alexander H. Matz
; before me personally appeared and
H
~ :espectively as President and - Secretary - Treasurer , of
= Royal Palm Investraents Inc. ~ a Florida Corporation, to me
~ known to be the persons described in and who executed the foregoing instrument, and severally acknowledged the exe- '
-y cution thereof to be their free act and deed as such officers for the uses and pur'oses therein mentioned; er~d that ihey
- affixed thereto the official seal of said corporation, and the said instrument is the act and deed of said cor{~ration.
WITNESS my hand and official seal at Fort Pierce , said cou and ate. '
~3
This instrument prepared by
Richatd K. Kayes Notary Publi , in and for St t and County afOresaid.
F irst Federal Savings and Loan My Commission E~cpires: '
~~ssociation of Fort Pierce, Florida 2~10s ~MY~~~BSlChTETF ~g~~~~9 ~
~ ' GENERAI IE.SIiFtANCt :!?VDEt?Y~RiTERC ~~~r
v~ .
i1LE~ ANO RECOROEQ
Checked By ST.LUCIE COUMTY fL~.
-~=dr---- ROCER POITRAS
- CLERK CIRCUIT COURT ~ ~
tia RECORO vER~r'IEO~
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