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HomeMy WebLinkAbout0967 3. To place and continuo~sly keep on the bu~:d~ngs now or hereaftsr situate on sa~d land a~d on ali equip~nent ~nd perso~ally covered by this mor sge, with all p~emiums thereon pa,d in full, 4ire insurance in ~he ~sual stai~ard poGcy iorm, in s sum aFproved by th~ MORiGAGEE, and windsto inturanc~ in t!w usual s~andard po~~cy form, in • s~m app~oved by the MORTGAGEE, in suCh tompany ot CompanieS aS Ihe MORTGAGEE m c+hecf; and all (ire and w:ndsiorm insuronce po!~<~es on any of sa~d bw~d~ngs, any inter~~~ there~n or part the~eof. in the aggrega~a su~~ aforesa~d in tacess therep(, s~all con~ain ~he usval stanrla~d mortgegc~ dause or such othe~ ctaus~ ei 1M Mo~~gagee may requ~re, makfng the ioss ~~.der se~d po de~, each and every, payab!e to ia~d MORIGAGEE as ~rs inrerrst may appea~, and each aod every such po~~cy thatl be p~omptly ais gned a~~d de~~ve~ed ~ eny held by ss~d MORIGAGEE as further securiry to said n,ortgage debt, and, no~ lea than ~en (10) days in advance of the eapirat~on of each pol~ty, to d~ ~ ~ I~ver ~o said MORiGAGEE a renewal the~eof, ~oge~her wifh a rece~pt for the premium of such renewal; and ~here sha11 be no f,re or w~~~ditcfin insu~anc j p~sced on any of ssid buildings, any ineerest there~n or part thrreof, unless in the torm and with the loss payable as eforesa~d; and in Ihe erent any sun { of mpney pecpm~i payable unde~ such policy a policies uid MORTGAGEE ahall have the opt+o~ to receive and app!y the un+e on accow~t of ~he indebrad ~ na~s secured hereby w ~o permit ~aid MORTGAGORS to rcceive and use it or any par~ thereoi foi ornrr purposes, .v~~hout th u~ ~v~i~i,:3 0~ "~~p~i. ~ ing any equity, Iien or righr under or by virtve oI ~his mo:~gage; and in ~he evenr w~d MORTGAGORS ~hall for any reason fail fo keep ~he sa~d p~emises so • ~ ~nsured, or fail to deliver promptly any of said pol~cies of insurance to said MORTGAGEE, or fail promptly to pay fu~ly a~y p~e~niurn therefor o~ in any + respett iail to perfwm, distharge, eaetute, effett, tomplete, tomply with and abide by this covenanl, or any parl hzreof, sa~d MGRTGAGEE may plate a~~o `i pey fo~ iuch insurance or any part fhereof w~thout waiving a afiectin~ any option, lien, tqv~ty, or right under or by virtue of this Mortgage, and tht f full amouM of each and e.ery such paymem shall be im~nediately due and payable and shall bear interest from the date thereof ~~ntil poid at the rare of ~ n~r.e per cenrum pe~ annum and together with wch inreresr shal~ be secured by the lien of this mortgage. 1, To permit, commit w suffe? no waste, impairment or dete~ioration of said property or any part thereof. ~ 5. To pay all and s~ngutar the coats, charges and expenses, including a reaso~able attorney i fee and costs of abstracts of Ntle, incurred w paid at ~ any time by sa~d MORTGAG:E, because a in the event of the failure on the part of the said MORTGAGOR to d~Iy, promptly and fully perlorm, d~scharge. e:ec~te, effed, comple~e, comply w~th and ab:de by each and every the st7pulat~o~s, ag~eementa, cond~tions, and covenaros o1 said p~om~zsory note and th~s ~ n,o~tgage any or e~?her, and sa;d cosrs, chargef and cxFenses, each and every, shall be immediately due and payabte; whe~her pr not there be no+;ce dz ~ mand, attempt to collect or suit pend~ng; and the fuil amouN of each and every such paymeN shall bear interesl from tAe date thereof until paid at the ~ rate os nine per centum per annurn; and all wid costs, charges and exprnses ir+turred or paid, together wnh such imerest, shall be secured by the lien of this i mut9sye. 6. That (a) in the event of any breach of thii Mcrtgage w default on the pa?t of the MORTGAGOR, or (b) in the evcnt any of sa:d sums of money herein referred to be not promptly and fully paid wiihin thirty (30) days ~ext afte~ the same severa?ly become due and payable, without demand or notice, or (c) io the event each and every the stiputations, agrecments, conditions and covenants of sa:d promissory note and th~s mortgage any or either are not iuly, promptly and fully performed, d~uharged, executed, effected, completed, compGed with and ab~ded Sy, then in e~ther w any such evem the sa~d ag- r ate sum me~tioned in said romiisw note then remaini un id, with interest accrued, and all mone s secured hereb shall become due and ~ 9 e9 P Y ~9 Pa Y Y. PaY- abl~ forthwith, w ~hereafte~, at ~he opf~on of said MORTGAGEE, as fully and complerely as if aU of ~he sa~d sums of money were or:g~nelly st~pulated to be pa~d on such day, anything in sa:d p~om~sswy note w i~ this Mortgaqe to the tontrary notwithstanding; and thereupon or thereafter at the option of sa~d MORTGAGEE, without notice or demand, suit at taw w in equity, therefwe w thereafter begun, may be prmecuted as if all money secured hereby rad maWred pnor to its institution. 7. That in the event that at the beginn~rg of or at any time pending any suit upon this Mortgsge, or to foreclose if, w to refam it, or to e~force payrrknt of any claims Aereunder, said MORTGAGEE shall apply to the Court having jurisdiction thereof ior the appo~ntmenl of s Receiver, such Court ahafl forthwi~h appoint a rece+ver of said mortgaged property all and singular, includ~ng all and singular the income, prof~ts, issues and revenues from whatever so~rce derived, each and every of wh~ch, it being expressly undersrood, is hereby matgaged as if spec~fically set forth and dexribed in the g.anring and habendum clauses hereof, and such Receiver shall have all 1Fx broad and effec~ive funct,o~s and powers in anywise ent~usted by a Gourt to a Receiver, and a~ch appoinement shall be made by such Cou~t as an admitted equity and a matter of absolute right to said MORTGAGEE, and without reference to the adequacy or inadequaty of ehe value of the p~operty mortgaged or to ~ne so~vency o~ inso~venty of said MORTGAGOR o~ the defendants, and that such rents, profits, incane, issues and revenues shall be applied by such Receiver according to the lien or equity of said MORTGAGfE and the practice of such Court. 8. To duly, promptly and fully perfwm, discharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, conditans and covenants in sa~d promissay note and this mortgage set fath. 9_ That in the event the ownership of the mo~tgaged prem~ses, or any part thereof, 6ecomes vested in a person other than the MORTGAGOR, the h'.ORTGAGEE, its succeuors and assigns, may, wiihout notice to the MORTGAOR, deal with such successor w successor in interest with ~eference to this mortgage and the debl hereby sec~red in the same manner as with Mortgagor without in any way vitiating or dixhaiging fhe Mortgagori liability here- under w upo~ the debt hereby secured. No sale of the prert,ises hereby mortgaged and no forbearance on the pert of the MORTGAGEE or its svccessors or ass~gns and no extension of the time fw the payment of the debt hereby secured given by the MORTGAGEE or its successors or ass~gra, s~~all operate ro release, d~xharge, modify change or afiect the orig~nal IiabiGty of ihe MORTGAGOR Fxrein, eithe~ in whole or in part. 10. It is speufically agreed that time is of the essence of this contract and that ~o waiver of any obligation hereunder or of the obligstion sN cu;ed hereby shall at any time thereatter be hetd to be a waiver of the terms hereoi or of tht instrument secured herby. 11. In add:tion to the forego~ng monthly payments of p~inc pat and interest required by the prom~ssory no!e secured hereb~, mortgagor tovenants s and agrees to pay to mortgagee v.ith each mo~rhly pay..,ent an add~rional sum estlmared ty morrgagee to be eq~al to 1 j 12 of the annual cost of the follow- ~ ~n~: A-All real property taxes levied or assessed agai~st the above described real estate. j B-Pre:n~ums on fire and windstorm insu+ar.ce as herein req~;red to be carried on the improvements situate on the abo~e described premises. ~ C-Premiums on such mortgage guaranty insurar.te as mortgagee shatl from time to ti~ne deem fit to csrry on the loan aecured hereby. I Mortgagee sha!f from time ta t~me notify mortgagor in writ~ng of the amount due and payable hereundrr and such sum shall thereupon be due and t ~ rayable on the due date of the next month!y payment and each succeszive montA thereafter ur.tii mortgagee shall notify mortgagor of a change in such I a~~o~nt. Such sums s6ai1 be app;ied by mcrtgagee toward the payment of real property taxes, insurance prem;ums, and mortgage guaranty insurance E F p~emiumt. ~ IN \YITNESS WHEREOf, the w~d MORTGAGOR has here~nto set his hand and seal the day and year fir:t afwesaid. ~ Signed, Sealed an eliver the presence of: • e~~~~ ~ (Seal) z ~~tl ~ ~ (Sesl) ~ \ L1Ila a~_~ ~ ~ (Seal) • ~ (Seal) ~ SiATE OF FLORIOA ' ~ couNrr oF St. Lucie ; ~ ~ William A. Elder Befwe me penonally appeared and : Linda C. ~ deZ his wife, to me well known and known.tn ait.to be ~ the individuals described in and who executed the for'oi~g instrument, and acknowiedged before me that they e:ecuted the ~q~i fo~.~~~~~~es Elder ~ therein expressed. And the ssid Linda C. ~ William A. Elder . ~ w~fe of the said upNi a 4apar~ts ~+id~pr~rsts examination b me taken se rate and a rt from her said husband, acknowl iy}~ynt~lt (teely~fd ~~+l~k?r~• Y Pa pa edged to and before me that she executed said i ~ ranly and without any compvision, constraint, appreh~sjQn, or fea? of or from her said huiwnd. ~ ~ ' Ma rch ; " 72 ~ WITNESS my hand and offic~al seal this T~ day of A Qi 19;_.`_ ~ : n: `s Notary Public in a f tl?e State of florida N.l,etge h1y Commission expires: Retum To: NOTARY °t!$LIC STATf CF FLOZIDA AT ~P.RGE ~ - First Federal Savings 3 Loan Association MY C^:..?.il?ciG?~ ? 197~5 ~ Of Fo.t P~erce. GEP~E::.+L li;~.i:~:...~c i.~.~~ti:ii217~:i;'i. ii1C. Fort Pierce, Fbrida 3_~- 7 J~ ~ ~~EO •«a aEC~pgEo - ~t ~uc~E couM r u?. ~ This Instrument P~epared By RiCha rd K. Kayes IIOCfR P4~TR~S ~ First Federal Savings & loan Association CLEaK C?~CUIT COUIlT - of Fort Piercer Florida RfCORa VEF~F~ED r Checked ey ~ ~Q IO 33 AH ~7Z ; R:~ p g 22J2~6 ~ 8oox2~~ PAGE ~67 . ~ ~ - ~ _ _ t,;~ _ ; - - - - : ~ . ~ ~ . ~ - ~ .,s ; ~ ~~r :-i s ,x,r_, ~r' a~.~. l _ ~ dPa~:.e.aa . c__~. _ _..-u _ _ - ^r` 'r_e,~~' s'