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HomeMy WebLinkAbout1238 3. To p~ace and continuo~.:~ly keep on the bui'dings now or herea(tei •ituate on sa~d land and cn all equipment and personally covered by this mor age, w~th ali premiums ~heieon pa:d in iult, f~re insvra~xe ~n the usual seanda~d po'~cy form, in a sum approved by tha MORiGAGEE, and w~ndaio insutance in the usual s~andard pol;ty form, in a sum appro~ed by the MORTGAGEE, in such company or companies as the ~~tORTGAGEE m d~rect; and all (ire and w~nd~~o~m ~nsuiance pol(c~es on any of snid bui:d~ngs, ~ny interest therein or pert the:eof, in the aggregaTe su~+ afo~eia~d in extesf ~hareof, shall contain the usual standard morrgagee clause w such o~he~ dause as the Mortgagee may requ~re, ma4ing thr iois under sa~d po c1es, each and every, payab!e to sa~d h10RTGAGEE as ~ts imerest may appea~, and each and eve~y such po!~cy shall be promptty ass gned and de:ivered ~ any held by sa~d MORIGAGEE as fur~her security to said mortgage drbt, and, no~ less than ten (10I days in advance o1 the expirat~on of each pot~cy, to d~ ~~~er to said MORTGAGEE a renewal thereof, toge~her w~~h a receip~ ior the prem~um of such renewal; and there shall ba no f.re o+ windi~orm i~suranc placed on any oi sa~d build~ngs, any in~erest ~here~n or part the~eof, un;ess in the form and wi~h the lo:s payable as aioresaid; and ~n the eYent any sun of mo~ey becomes payable under s~ch policy o~ pol~cies said MORTGAGEE shall have rhe opt~on to rece~ve and apply the sa~:~e on account oi the i~uirbt~d ness secured hereby or ro perm~t said MORTGAGORS to receive and use it w any pan thc:eol for o:ne~ purnoses, v.~~ho~t i!~~r~ur w~i~i~~ or ~~~~a..~~ ~r+g any equ~ty, I~en a r~ght under or by virtue of this n,or~gage; a~d in the event u~d MORTGAGORS shall for a~y reaso~ fail to keep ~he sa~d pre~n+ses so ~nsured, o? fail to del~ver promptly any of seid pot~cies of insurance 1o iaid MORiGAGEE, or fai! promptly to pay fulty any pre~»iu~n ~herafor or in any respect fail 1o perform, d,scharge, eaecute, effect, complerz, comply wi~h and abide by this covenant, or any part h2reof, said 11HGRTGAGEE may p~ace a~o pay fa s~,ch iniurance or any part thereof w~ihout waiving or affecting any opt:on, lien, equ~ty, or nghi unde~ a by vir~ue of ehis Morfgage, and the full amount of each and every such ~+aymeot shall be ~mmediately due aod payable and shall bear intere•t from ~he date thereof un~il pafd at the rate ol nlne per centum per annum and to~efher with such interest shali be srwred by the lien of this mortgage. 1. To permi?, commif o? suffer no waste, impairment a deterioration of said property or any part thereof. S. To pay all and singular the costs, charges and expenses, including a ~easonable atrorney's fee and cos?s of abstracts o( title, incurred or paid at any time by said MORTGAGEE, becaux or in the event of the fa~lure on the part of the said MORiGAGOR to duly, p~on,ptly and fully ~ierform, d~scharge. execute, effect, complete, comply w~th and ab:de by each and every the stipulat~ons, agreements, conditio~s, and covenants oi said pro~nissory note a~~d th~s .i~ortgage any or e+rher, and sa;d costs, charges and expenses, each and every, shall be immrd~ately due and payable; whether w not there be no~~ce d? mand, attempt to to:lett or suit per.d~ng; and the full a~nouM of each and every such paymeN ahall bea. interest from the date thereof until pa~d at the r,,re o~ nine per centvm per annurn; and all said costs, charges and exprnses incurred w paid, together w~th such int~rest, ~hall be secured by the iien of th~~ monpage. - 6. That (a) in the evenf of any breach of this Mortgage or default on tF~ parf of the MORTGAGOR, w(b) in the evenl any of sa:d sums of money herein refe~rrd to be not promptiy and fully paid wiihin th~rty ~30) days next atter the same severally txcome d~e and payable, wi~hout demand or notice, or (c) irt the event each and every the stipulations, agreements, conditions and covenants of sa:d promissory note and ~h~s mortgage any or e+~her are not ~uly, promptly and fully perfo~med, d:scharged, exec~ted, e~fected, completed, comp6ed w~th and ab~ded Sy, then in e~ther w any such event Ihe said ag 3~egate sum mentioned in sa~d promissory note then remaining unpa~d, w~~h ~n~e.est acuued, and all moneys secured hereby, shall becw„e due and pay- able forthwith, or thereafter, at the option of said h10RiGAGEE, as fuliy and completely as ii all of the said svms oi money were o~~ginally st~pu~ated ro be pa~d o~ such day, anything in sa,d prom~ssory note or in this Mortgage to the contrary notw~thstanding; and ~hereupon or thereafter at the opt~on of sa~d MORTGAGEE, w~thout notice or demand, suit at law w in equity, therefore a thereafte~ begun, may be proxcuted as if all moneys secured hereby r,;d maturcd pnor to rts insGtut~on. 7_ That in the event that at the beg~nn~ng of or at any t~mr pend~ng any sult upon this Mortgage, w to faeclose it, o~ to refwm i~, or to enforce Fayment of any claims hereunder, said MORTGAGEE shall apply to the Court having jur~sd~U:on thereof for the appo~ntment of s Receiver, w,h Court shafl ic~thwith appoint a receiver of said mortgagrd property ail and s~r.gular, incfud.ng all and s~ng~{ar the ir.come, prof~ts, issues and ~evenues from whatever se~~rce derived, each and every of wh~ch, it be~ng expressly ~nders~ood, is hereby morrgaged as ~f speofically set forth and descr;bed in the g~anring a~d habendum cla~ses hereoi, and such Receiver shall have alt the broad and effecr~ve funct,ons and powers in anyw~se L•ntrusted by a Court to a Receiver, and s, ch appointment shalt be made by such Court as an adrni~ted equity and a matter o~ absolute right to sa+d MORTGAGEE, and without re(erence to the edequacy or inadequacy of the value of the p~operty mortgaged or to the so:vency or insotvency of said MORiGAGOR or the defendants, and that such rerns, profits, incane, issues and revenues shall be applied by such Receiver according to the lien w equity of said MORTGAGEE and the practice of such Court. B. To duly, prompt:y and fully perform, discharge, execute, efEect, complete, comply wiTh and abide by each and every the stipulations, agreements, conditiona a~x! covenants in sa~d promisswy note and this mortgage set forth. 9. That in the event the ownership of the mortgaged premises, o~ any part thereof, becomes vested i~ a perwn other than the MORTGAGOR, the :'.ORTGAGEE, its successers and ass~gns, may, without no~~ce to the MORTGAOR, deal with s~ch successor w successw in interest with ~eference to th;s mortgage and the debt hereby secured in the same manner as w~fh Mortgagor without in any way vitiating w discharging the Mortgagori liability her~ cnder w upon the de6t hereby secured. No sa:e of the Fremises hereby mortgaged and no forbearance on the part of the IJtORTGAGEE a its successors or assigns and no extension o} the time ior the payment of the debt he~eby secured given by the MORiGAGEE or its successors or ass~gns, ahall operate - ro retease, d~scharge, modify change er affect the original lia6~lity of the htiORTGAGOR here+n, either in wFwle or in part. ` 10. It is spec~ficatly agreed that time is ef the essence of this contract and that no waiver of any obligation hereunder or of the obligation se- cured hereby shali at any time thereafter be he:d to be a waiver of the terma hereof or of the instromem setured herby. 11. In add:tion to the forego'n9 mo~rh!~ payments of p.i~c'pal and interes~ required by the prom'sswy no!e secu~ed hereb~, mortga~or covenants jnd ag~ees to pay to mo:tgagee v~ith each monrh~y payr.,e~v an add~tional sum est;n:ated by mortgagee to be equal to 1; 12 of the annual cost of the fol:ow- ~,g: A-All real property taxea levied or assessed agai~st rhe above described real esrate. ' ! B-Premlums on fire and wfndstorm inswacce as here~n requ~red to be carried on the Im~roveme~ts s~tuate on the above desuibed premises. ~ ~ C-Premiums on such mortgage guaranty insurar.ce as mortgagee shaU from t~me to ti~ne deem fit to carry on the loan secured hereby. Mortgagee shail lrom t~me to t:me notify mortgagor in writ~ng of the amo:,ot due and payabie hereundrr and such surn shall thcreupon be due and j ;.ayable on the due da!e of the next mor.th:y payment and each successive month thereaher ~r,til mo+tgagee shall notify morlgagor of a change in suth ! e- ovnt. $uch sums st~ail be appiied by mortgagee towa~d the payment of real property taxes, insurance prem;ums, a~~d mortgage guaranfy insurance ~ .>~emiums. IN WITPJESS WHEREOF, the said MORIGAGOR has hereunto ut his hand and seal the day and year ' aforesaid. ! ,,_~5~~, ~ealed and de ' d ih tiye presence of: ~-f~' ~ ~ t- Seaq Fr k W. Race . ~~ai~ - > 'L ~ csean = y , ~ ace ; - - ts~a~~ ~ SiATE OF FIORIDA ~ St. Lucie ~ ss- ' rOUNTY OF _ I { ~ank W. Race Jr. ~ Befwe me perwnally appeared ~ snd ` _ Betty L. Raee his wife, to me well known and known to me to be ' the individuals described in and who eaecuted the fwegoing nstrumeM, and acknowledged before me that they executed the same for the purposes ~ Betty L. ~tace ; ~herein expressed. And the said Nife of the w~d _ ~ • `~C@1 r• ' ~ vpon's aepN~ts ~nd private ~ examinat~on by me taken separate and apart from her said husband, acknowledged to and before me that she executed saia iMktrtyel f~e~ty and volur?~ ranly a~d w1tFw~t any compulsion, conssra~nt, apprehens: , or fear of w from her uid husband. ,j ~ - _ . 7, WITNESS my hand and offiual seal this- day of a ch - A:~O. 19L~ i . ~ ~ ~ ~F , Notary Public in and for thR Sta~e of ida af laryt y = Retum To: My Commission eapire~ _ : l~dTAIIV PUBUC. tTATE of FtARIDA at LARGf = Fint Federal Savings b loan Assoc~at~on 225434 ~~?'•~~M~~~~ ~RE3 SEPT. 25. 1975 - oF Fo~~ P!erce. ~~Qb.81?.N~tiyYt 8~c~s ~nwraixe .~o. ~ , _ . fort Pierce. Florida ~ ,~'t:-. - FlLEO A!1D ~rCORCEO • ~T. LuCI~ COUNTY FIA. _ ~tOCEP ~~~TRAS = This Instrument Prepared By Richard K. Kayes C'_EPK C'•''C111T COURT rn(~ y First Federal Savings 8 Loan soc a ion REC~RD ~ER~FifD~.--j~ ~ ? of Fort Pierce~ ~~~~a 3 312 PH L c Checked By 80a1~ ~ ~~~~V I ~ , - t~ ~ ~ - _ ~ ~ _ - d c y < r ' ._W:~-~.. _a_ _ . _ ~ _ . r,3_.