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HomeMy WebLinkAbout1384 • • Q..-:~ ~ I~i~ r 3. To place and conNnuo~sly keep on ~he bu~:d~ngs now or hereafter siwete on sa~d land and on alt eqvipment and personally covered by this mor ~ ege, w~~h all premiums thereon pa~d in full, iire ins~rance ~n ~he usual sranda~d Fo:~cy form, in a sum approved by thr MORIGAGfE, and w~ndato ~ ~nsura~ce in the uswl arandard pol,cy form, in a sum appro.ed by the V10RTGAGEE, in such company or companles a~ the h10RTGAGEE ~ d~rect; and all fire and w7nd~iorm ~nsu~ance poGues o~ a~y of sa~d build~~gs, any in?eres~ t4erein or part thereof, in the agg~egate sum aforesaid { in excesi Ihereol, shall coroain the us~al standard mortgagee ciause or such o~her tlause as ~he Mortgagee may requ~re, ma?ing ~he tcss undrr sa~d po ~ cies, each and every, payable to said A10RTGAGEE as its in~ereat may ap{xar, and each and eve~y suth pol~cy 3hdll be prort:ptty assgnrd and de~ivared ~ ~ any held by seid MORiGAGEE as fw~he~ security to said mortgage debt, and, not leu than ten (10) days in advance of the expvat~on of each pot~cy, ~o d~ ~ Grer fo said MORiGAGEE ~ renewal thereof, together with a~ece~pt for the premium oE svch renewal; and thzre shail br no f~~e or winds~o~m insuranc placed on ~ny of said buildinys, any interest therein w par~ ~hereof, unless in the form and w~fh the loss payable as aforesaid; and in the e.•ent any sun ~ of money becomes payable under such polity u poGues said MORTG4GEE shall have the opt~on to raceive and apply the wme on accoum of thz ;nde6~~d ness secured hereby a to permit aaid MORTGAGORS to roceive and use it o? any par? the;eof for otncr purt~oies, .v~~h~.;t th~•. ur .v~~~~ ~7 ~r r~~au~~ ! ~~g any equ~ty, lien or right unde~ o~ by viriue of this mor:gagc; and in the evero sa~d I~IORTGAGORS shall fo+ any reason fail to kecp ~he sa~d premisrs ao ~ fnsured, o~ tail ro deliver promplly sny of said Fo~~cies of insurance to said MORTGAGEE, o~ fa~! promptly to pay fuity any premiu+rc therefor w in a~y ~ respect fail to pertorm, d~scharge, execute, effect, comple~e, comply wi~h and abfde by thls covenant, or any part hereof, sald MORTGAGEE n~ay piace a,o ~ pay fo~ such inwrance or any pa~t fhereof without waiving or affecting any option, lien, equ~ry, or r~~ht unde~ or by virtue of fhis Morfgage, and the full amount ot each and every iuth payment shatl be im~nediately due and payable and shall bear intesesl irom the date thercof un~il paid at the rate ol n~ne per centum per annum and to~ether ~vith such interesr sha~i be srcured by the lien of this mortgage. 1. To permit, commit w suffe? no waste, impairment w deterioration of said property o~ any part thereof. ~ S. To pay ill and singular the costs, charges and expenses, including a reasonable artorney i(ee and costs of abstracts of title, incurred or paid at any time by said MORTGAGfE, because or in the event of the failure on the pa~t of ~he said MORTGAGOR to duly, promptly and fully periorm, d~scha:ge. eXecute, effect, comp{ete, con,ply w~th and ab:de by each and every the st~pulai~ons, agreements, candit~ons, and covenants of said pro:r.~swry note and rhh rnortgage any or ei~her, and sa;d cosri, charges and expenses, each a~d every, shall be immed~ately due and payable; whether w not there be no+~ce da n,and, attempt to cotlect a suit pend~ng; and the full amount of each and every such payment shatl bea. inreresr from the date thereof untit pa~d af fhe ~are oi nine per centum par annum; and all said casts, charges and expenses irxurred or paid, together w~th such interest, shall be secured by the Iien of th~~ mortgage. 6. That (a) in the event of any breath oi this Mortgage or deiauh o~ the part of the MORTGAGQR, or (b) in the event any of sa;d sums of money herein referred to be not promptly and fully paid wiihin thuty (30) days neat arter the same se~eratly become due and payable, wiihout demand a nofice, or (c) in the event each and eve~y the stipulatio~s, agreements, cond~tions and covenants of sa:d p~omissory note and th~s mortgage any or e~~her are not ~uly, promptly and (ully performed, d~scharged, executed, effected, completed, compfied with and abided 5y, then in either w any such eveM the sa~d ag g<<~ate sum mentioned in said promisswy note then remaining unpaid, with inrerest accrued, and alt moneys secured hereby, shall become due and pay ~ ao~e forthwith, w thereafte~, at the option of said MORTGAGEE, as fvlly and completely as if all of the sa~d sums of money were or~ginally st~pulated ro be pa~d on such day, anything in sa:d prom~ssay note or in fhis Mortgage to the contrary notwi~hstanding; and thereupon or thereatter ai the op~ion of sa:d MORTGAGEE, without notice or demand, suit at iaw or in equity, therefore or thereaiter bzgun, may be prosecuted as if all moncys secured hereby rad matured pnq to ~ts institution. 7. That in the event that at the beginning of w at any time pending any suit upon this Mortgage, or to foreclose it, or to reform it, or to en(orce payment ot any claims hereunder, said MORTGAGEE shall apply to the Cour~ having jur~sd:ction the~eof (or the appointmenl of a Receiver, such Court shall fc~rhwi~h sppo~nt s receive+ of said mortgaged property all and singuiar, includ~ng ail and singu~ar the income, prof~ts, issues and reven~es from whatever :c_rce derived, each and every of whkh, it being expressly undarsrood, ii hereby mortgaged as if sptufically set fo~th and desuibed in the granting and habendum dauses hereof, and such Receiver shall have alt the braad and effccnve funcf~ons and powers i~ anywise entrusted by a Court to a Receiver, and = s,:h appoi~tment shall be ma~e by such Court as an admitted equity and a matrer of abso!ute right to said MORiGAGEE, and withouf reference to the ! aclequacy or inadequacy of the value of the property mortgaged or to the so~vency or ~nsolvency of said MORiGAGOR or the defendants, and that such ' re~rs, profin, incane, iasues and revenues shall be appiied by such Recr~ver accord~ng to the lien or equity ol said MORTGAGEE and the practice of such ~ C.ourt. 8. To du1y, promptly and fully p~rform, discharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, 9 conditions and covenants in said promissory note and th;s mortgage set fwth. F 9. That in the event the ownership of the mortgaged premises, or any part lhereoF, becomes vested in a person other than ihe MORTGAGOR, the :'.ORTGAGFE, its successws and assigns, may, without noTice to the A10RTGAOR, deal w~th such successor or s~cceasor in interest with reference to this r~ortgage and the debt hereby secured in the same man~er as with Mortgagor without in any way vit~aling a discharg~ng the Mortgagors' liability here under or upon the debt hereby secured. No sale of the premises h•:reby mortgaged and no forbearance on the part of the MORTGAGEE or its successors er ass~gns and no extension of the time iw the payment of the debt hereby secured given by the M,ORTGAGEE or its successors or ass~gns, a~iall operate io re~ease, d~scharge, modify change or affect the o~ig+nal tiabi6ty of the MORiGAGOR herein, either in whale or in part. 10. It is speufically agreed that time is of the esaence of this contract and that no waiver of any ob~igation hereunder or of the obligation se- cured hereby shali at any time thereafter be held to be a wairer of the terms hereof or of the instrument secured herby. e 11. In add.tEon to the forego'ng month!y payments of princ pa~ and interest requ~red by the p~omisscry no!e sec~red hereb~, mortga~or tovenants ~ ~^d agrees to pay to mortgagee vr~eh eath momhiy payr,:ent an asld~~ional sum estimated by mortgagee to be eq~al to 1/ 12 of the annual cost of the follow- ~ i A-All reai property taars levied or assessed agai~st thc above described real estate. ~ i S-Pr~m~ums on iire and windstorm ~nsurar.ce as herein requ~red to be ca.ried on the ~m;.roveme~ts s~tuate on the above described premises. C-Premiums on such mortgage guaranty ir.surance as mortgagee shall from Y:me to time deem fit to carry on the loan secured hereby_ Mortgagee sfiaS~ from t~me to ti-ne not;fy mo.tgagor ~n wr~t~ng of the amou~t due and payable hereundrr a~d such sucn shall thereupon be due and ~ ;~,able on the due date of the next month!y payment and each successive month thereafier unril mortgagee shall notify mortgagor of a change in such o~nt. Such sums shail be applied by mortgagee toward the paymeni of real property tazes, insurance prem;ums, and mortgage guaranfy insurance p~emiums. ; IN WITNESS LYHERcOF, the sa:d MORTGAGOR has hereunto set Fis hand and seal the day and year first afo~esaid. ~ Signed, $ealed and delivered in the ~esence of: , ' ~ Seal) ~ u illiam utch svn cseaQ t ~ ~ - - al) s~ s _ Caro B• HutChinsOn t ~ ~ STATE Of FLORIDA 1 :ouvn oF St. Iucie ~ Befwe me personally appeared Williazn ~Rop Hutehinson ~ and S ~ Caro B. Hutchinson ' ~ his wife, to me well known and krwwn to me to be ~ C the individuals described in and who executed the foregang instrurtxnf and ackn ~ ed befwe me that they executed the same for the Purposes - ~ tiherei~ ~x CaroYyn B. ~u~c9hinson ~ pressed. And the said - ~ _ ~ : ry ti~~fe of the said ~11i3JR Roy Hutchinson ~ti,; ~ ~ e¦amination by me taken uparate and apart from her said huaband, acknowledged to and befwe me tAat she executed said iWtfvroal'f~~ d iM YYi[~Y~6i+u~'~ - ~ ; rar~~y and without any compuision, constraint, appre nsion, fesr of ot from her said husband. _ : } c WITNESS my hand and offic~al seal this_ day of ' March A D. 19 ~ 4- ~ ~ ~ _ ~ - , ary Public in and the Sts Of fl~r~ ~t l.~lpe i ~ y Commission expires: , , , ,ti~ ~ " Retum To: ; ~ • • C ~ ~ ~ ~ :x ~ First Fedeul Savings E loan Assoceat~o~ p~ ~-7 ~ ~''~~f:~~~' ~ ~ ~ Of Fort P:erce. ~ r t + = Fort Pierce, Florida ; iK FIIED AMD RECORDEO ;y St- lUC1E COUMTY iU. ROGER FOITRAS ~ ~ ~ This Instrument Prepared By R3Ch82'd K. KayeB ~~ERR C?RCU~? C01lRT y= First Federal Savings 8~ Loan Association RECORO VERtf1E0 - ~ of Fort Pierce , Florida ~ M~ ~a 3 io PN 72 Checked By ~~C - V a~~ - , ~ ~ - - - ~ x._. ~ ~ ~ _ ~ . r.~_..: ' - ~ _ . . . - .