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Home My WebLink About0754 ~ , , ~r 3. To place and continuo~sly keep on the bui:dings ~ow or hereaiter ~ituate on sa~d land and on all equ~p~nent and personally covcred by this mo~ egs, wi~h all ptemi~ms ~hereon pa:d in fuil, ffre insurance ~n ihe usual s~a~dard policy form, in a sum aNproved by ~he MORiGAGEE, and w~ndsto ~naurance in the usual ~tandard poLCy lo~m, in a sum a,~proved by ihe M~RiGAGEE, in such company or co+npanies as ~he MORiGAGEE m directt and al) fire and w~ndstorm insurance p~ ~~c~ns on a~y o( ~a~d build~~gs, any interesl therein or parl thereof, in the aggrega~e su~n afo+esa~d in sxcas Ihereof, sha~l confain the usual s~andard malgagee dause or such other clause •s the Mortpagee mey requ~rs, making the ~oss undr~ sa~d po c~es, each and every, payabie to sa~d h10RTGAGEE as ~rs inrerest may appear, and each and every svch po~:cy shall be promp~iy ass gned and de~~ve~ed ~ any held by said MORTGAGEE as lurther secu~ity to said nsor~gage debt, end, oot lest ~han ten (101 days in advance o~ the expiiauon of each po:~cy, to d~ Gver ro said MORTGAGEE a renewal ~hereoi, ~oge~her wiih a rece~pt for the prrmium of such renewal; and ~here shall be no f~re or w~~~de~o~m ~nsuranc placed on any of said build~ngs, any in~zres~ there~n or part thereof, un!rss in the form and w~th ihe ~oss payabla as aioresaid; and ~n ~ha e~ent any sun of money becomes payable under s~ch policy a poGcies said MORTGAGEE shall have the op~~on to rec~~ve and apply the same on acco~nt of the indab~rd ness secured hereby w to permit said MORTGAGORS to reteive and use iT or any part thereof tor otncr purposes, wi~nout thrr~ ui w~ivi ~3 or ~~np..~~ ing any equ~ty, I~an w right undrr or by virwe of this mo:!gage; ~nd in the event u:~ h10RTGAGORS shall for any ~eason fail to krep the said premisrs so ~ ~nsured, w fail 1o de~iver promptfy any of said pol~ues ol insu~ance to sa~d MORTGAGEE, or fail promptly to pay tufty any pre~nium therefor or in a•^.y respect (ail ro perform, discharge. eaecuie, e(lect, complete, comply with and abide by this tovenam, or any part hrreo(, sa~d MOA7GAGEE may piace a+o pay tor such insvrance or any pa~t thereof without waiving or ~ffecting any opfion, lien, equ~ty, w?igh~ unde.v or by virtue of this hlortgage, ar~d the full amount of each and every such payment shatl be immediately due and payable and shafl bea~ interast from the date thereoi until pa~d at the rate ol n~ne per ce~tum per annum and to~e~her with such inte~est shati tx srcured by the lien of this mortgage. 1. To permit, commit or sutfer no waste, impairment or deterioration of said prope~ty o~ any part thereof. S. To psy all and singulsr the costs, chargcs ~nd expenses, including a reasonable ateorney's fee and cos~a of absrracts oT titte, incurred or paid at any time by said MORTGAGfE, because or in the event of the failure on the part of the said MORTGAGOR to duly, prcmptly and fully pzrform, d~scha~ge. execute, effect, complete, comply w~th and ab:de by each and every the st~pula~~ons, agreemenu, co~ditions, and covenanrs of sa~d p~om~ssory note and ~h~i n~ortgage any or either, and sa~d costs, charges and expenus, each and eve?y, shall be immediately due and payable; whether or not tAere be nor~ce dr mand, atfempt to cotlect w suit pending; and the full amount of each and every svch payment shatl bear infere:l ftom the date thereol until paid at the r,,~e of nine per cent~m per am~um; anc! all said cosn, chargea and expenses incurred or paid, together w~th such interest, iha~l be secured by the lien of th~s mortpsge. 6. That (a) in the event of any breach of this Mortgage or default on the part of the MORTGAGOR, a(b) in the event any of sa~d sums of money herein referred to be not promptly and fully paid within Ih~rty ~30) days next afr?r the same severalty bttomr due and payable, wilhout demand or notice. or (c) in the event each and every the s~ipularions, agreements, cond~r~ons and covenants of sa:d prom~ssory nore and th~s mortgage any oa e~ther are not i~iy, promptly and fuily performed, d~scharged, executed, effected, completed, compfied with and ab+ded yy, then in eithe~ w any such event the sa~d ag gr¢~gate sum mentioned in said promissory note tnen remaining unpaid, with inte~est accrued, and all moneys secured hereby, shatl become due an~ pay- ab(e forthwith, or thereafter, at the option of said MORTGAGEE, as fully and completely as if all of the said s~ms of money were a~ginatly st:pulated ro be paid on s~tih day, anything in sa.d prom~sswy note or in this Mortgage to the contrary notwithstand~ng; and ~hereupo~ w thereafter a~ the opt~on of sald MORTGAGEE, w~~hout not~ce o~ demand, suit at law a in equity, therefore a ~hereafrer begun, may be p~osecuted as if all moneys secured hereby had matured pr~w to ~ts ~nstitution. 7. That in the event that at the (xgin~ing of or at any time pending any suit upon this Mortgag~, a tp faeclose it, ot to reform it, or to enforce payment of any claims hereunder, wid MORTGAGEE shall apply to the Court having ~urisd~ct~on thereof for ?he appointment of a Receiver, svch Court shall forthwirh appoint a receive~ of said mortgaged property all and singular, incl~d~ng a!1 and singular the ir.~^_ms, profits, issues and ~evenues frpn whafever source derived, each and every of wh~ch, it being expressty under:tood, is hereby morrgaged u iF spec~fically ut forth and described in the granting and habendum clauses hereof, ar.d such Recciver shall have all the broad and eifective funct.ons and powers in a~ywise entrusted by a Cou~t to a Receiver, and s:.ch appointment shalt be made by such Court as an ad:nitted equity a~ a m.atte~ oi absolute right to said MORTGAGEE, ~nd without reference to the adequacy or inadequacy of the value of the p~operty mortgaged or to the so~vency or insotvency of said MORiGAGOR p the defendants, and that such renfs, profits, incane, issues and revenues shalt be applied by such Receiver accord,ng to the lien or equity of said MORTGAGEE ar.d the prattice of such Court. 6. To duly, promptly and fully perform, discharge, exccute, effect, complete, comply with and abide by each and every the st~puiat~ons, agreements, conditions and covenant: in sa~d prom;ssoty note and ~his morrgage set forth. 9. That in the event the ownership of the mortgaged premises, w any part thereof, becomes vested in a person other than the MQRTGAGOR, the ti'.ORTGAGEE, its successors and aas~gm, may, w;thout noTice to the MORTGAOR, deai with svch successw w successor in interest with reference to this mortgage and the debt hereby secured in the same manner as witA Nlortgagor w~thout in any way vit~ating a d~xharging the Morrgagori liability here under or upon the debt hereby sec~red. No sale of the premises here~y mortgaged and no forbea~ance o~ the par~ of the MORTGAGEE a its successors or assigns and no extension of the t;me fw ~he payment of the debt hereby secured given by Ihe MORTGAGEE or its successors or ass:gns, anall operate to release, d~scharge, r»odify change or affect the orig~nal Iiab;Gty of the MORTGAGOR herein, either in whole or in part. 10. It is speufically agreed that time is of the essence of this contract and tha! no waiver of any obligat~on hereunder or of the obligation sr c~red hereby shall at any time thereafter be held to be a waiver of the terms hereof w oi the instrumem secu~ed Fierby. 11_ In add.tio~ to the forege'ng month!y paymenrs of pr+nc paI and inferest required by the prom~ssory nore secured hereb~, mortgagor covenants e^d agrees to pay to mortg~gee v~ith each monrhiy pay~,~ent an add:nonal sum es+!n:ared by mortgagee to be equal to 1; 12 of fhe annual cost of the follow- ~ny: A-All real property taxes levied or assessed aga~~st thc above described real estata j . j B-Premiums on (~re and windsrorm insurarce as here~n requ;red to be carried on the imgrovements situate on the above described premises, ~ C-Premiums on such mortgage guaranty insurance as mortgagee shall from t:me to time derm fit to carry o~ the loan secvr~d'fiereby. Mortgagee shall from time to t~me norify mortgagor ~n writ~ng of the amo~nt due and payable hereunder and such sum t1y1~ thetarpon be due and i ; ayable on the due oate of rhe next momh.'y payment and each successive month the~eaiter ur,til rtw~tgagee shall not;fy mortg~qot. Of a change in suth ~ ~^oun?. Such sums sha'tl be applied by mortgagee toward the payment of real property taxes, ins~rance prem:ums, and awlteage guaranty ipsui~te ~ ~ E cremiums_ . ; IN WITNESS WHEREOF, the said MORTGAGOR has hereunto ut his hand and seal the day and year first aforesaid, ~ k Signed. Sealed and deli ro in t e presence of= R p/~~ ]~}Z$~ -,2~ t ~ ~ BY ~ - =~FILEdAkCRECORQEO ~ ' a~ ~ ST. LUCIE COUNTY fU. ATTEST: ~!i!- - ~ n ~ R~Gr ~ POiTRAS t`~ . - 5 - CI~f~K C' ''U{T COURT ~ I a~~ ~ - - - - - - r.P.t? r F ; ~ i~y _ - - - - - - ~ ~ 8 10 4~ AM'TZ ~ STATE OF FLORIDA 2~~1~ COUNTY OF ST. WCIE ~ 1 HEREBY CERTIFY, That on this __~day of ~rch , A.D. 19 72 , ~ ~ before me personally appeared NichOlas Vitkovich and Alexander_ H. N{atz ~ respectively _ as President and - Secretary - Tzeasuzer ~ of s , + ; Royal Palm Investment, Inc. Florida a--_--_-___-__- - Corporat~qtti, to me , known to be the persons described in and who executed the foregoing instrument, and severally acknOV~?kd~cd thil:eate- , : ~ cution thereof to be their free act and deed as such officers for the uses and pursoses therein mentioned; a~d ,~~Aeyl ~ . ~ - affixed thereto the official seal of said corporation, and the said instrument is the act and cbed of said corporation. ~ _ , , : WITNESS my hand and official seal at Fort Pierce , said cou~My'~nd )ete. : ~ This instrument prepared by ~ ~ _ ~ R ichard K . Kayes , ~ First Rederal Savings and Loan Associ~tion Notary Public, in and for State nd County aforeseid. • of Fort Pierce, Florida My Commission Exp~~~~,~ p~~r p~ ~~.~~~~~^c, .~T - f'Y C'Jh~~;I; `C. •r:' 2. 1975 GEi~1~RAL I^IS.;Etat~t; . ' . ~ !;iC. Checked By~- 0 R~M ' dOWc r.W ~E ~ i~ ~ ~ ~ . . . _ . ' . ~ ~•V ~r, _ , _ F -..v ' " _ . _ - . _ . _ y . _ _