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HomeMy WebLinkAbout1019 3. to plx~ ~nd continuously keep on the bui!dinps now w I+~rt~ftt~ iitwq a+ said land ~nd on all equipm~nl u+d pason~lly cov~~~d by Ihis ma p~, with ~II premiumi ~hereon pa~d in (~tl, lire iniuranc~ ~n ~he u~val itandud polKy form, in a sum approv~d by tM MORiGAGEE, and windsto inswaoce in ~M viuat sand~~J pot;cy fam, in a ium appoved by th~ MORTGJ?GEE, in i~ch company or companies u H+i MORTGAGEE m directj snd all iin and wMds~orm iniu~ance policiei on ~ny of said buiW~rps, a~y i~t~~~i~ ~herei~ or part thereof, in tM a~greya~e tium aforeuid 1n tzcsss thereof, ihaU comaio tM uiwl standard morl9apet cl+vs~ w such o~her c4uss, at th~ Mo.rQagee may requu~ makiny th~ lou u~da u~d po ciss, esth and ~very, parablf w said MORTGAGEE as iti intHCSI may appsu. ~nd each and eve~y iuch pol~cy thall be prompNy ass.qncd and delivered ~ a~y held by said MOR1GAGkE as furthe~ tecurity ~o said mort~a9e debt. •rnl, no~ kss ~f»e ten (10I da~s in advance o/ tFre expiration of each policy, to d~ ~~w~ to wid MORiGAGEf a renewal thereof, ?oyerher with a reteipt fot the prtmium oi such renewal; and ther~ thall be ~o fir~ or wind~torm iniunnc pl~ted on ~ny of said buildingi, ~ny interest the~ein w part tMreof, unless in tM fam and with the lou payable at afwesaid; a~d in the eveM any tun of mon~y becomas payable uoder suth poliq or polKiei said AAORTGAGEf shall haw the opt;on to receive and apply the same a+ accoum of the indebted neu secured he~eby w to pMmit said MORTGAGORS 10 ~eteive and ~ne it or +ny part ~hereof for o~hr~ purposes, w~~nout th:.tbi waivi~ig o~ u»pair inp any equity, lien w right v~+ or by vi~tw of thii mortga9e; a~d in tM ~vent said MORTGAGORS shaN for any ~eason fail ro keep the said piem;xs w insured, or fai) to delive~ pranptly sny of said policiss of inaurance to s+id 1NORTGAGEE, a iail promptly to p~y fvtly any pre~nium therefw w in ~ny respett fail to ptrform, diuharge, execwe, effect, complete, comply with and abide by this coveeant, a ~ny parl he~eof, said MORTGAGEE may pl~te ~nd pay for suc6 insurance o~ any part tAereof without waiving or sffecti~p any option, lien, equ;ty, or right unde? or by virtue of ~his Ma~gage, ~nd the full smount of each aod ewry such payment sF?~II be immcdiately dw and pay~ble ~nd shall besr inte~est from the dsttr thereof un~il paid tAe ra~e ot nine per centum per annum and together with such interQSt aha~I be secured by 1hs tien of this mortgage. - To permit, commit w suffer no wasfe, impairment w dettrioration of sa+d property q any part theieof. 5. To psy stl ~nd singulu the cos~s, charges and expenses, including s ressonsble attw~ey's fee arxl costs of sbatrsds of title, incurred a paid at any time by said MORTGAG:E, because a in the event of the failure on the parf of ~he said MORTGAGOR to duly, promptly and fully perform. discharge, exetute, effecl, complete, comply with and ab~de by each and every the stipulations, ~greements, conditions, a~d cover~ants of said promissory ~ote and this mo?tgage any w either, and uid cosn, charges and expenses, each and evay, sh~ll be immedia~ely due end payabfe; whetF~e~ a not there be no?ice de mand, attempt to co11M or suit pending; and the fvll amount of each ar~d every such paymeeN shall bear interest from the date tlxreof until paid at the ~are ot nine per centum per aro~~m; and aN said cost~, tnarges and expenses inc~rred p paid, together with suth interest, shall ba secured by the lien of this mortpsge. 6. Thst (a) in the eveM of any breach of this Mortgage a default on the part of the MORTGAGOR, w(b) in the event any of sa~d sums of ma+ey herein referred to be not promptty and futly paid within thirty (30) days nexl after 1he same severatly become due and payable, without demaod w noticq or (c) in the eveM each and every the stipvlations, agreemeMS, tonditions and tovensnts of ss~d promisso?y rate and th~s matgage any or either are not i~ly, prompNy and fully pe~fwmed, d~schargrd, executed, effected, compteted, complied with end abided by, then in e;ther w any s~ch event the said ag~ gregate sum menlioned in said promiuwy ~ote then remaining unpaid, with iMere;l accrued, and all moneys setured F~ereby, shall becort~e due snd pay- abte fwthwith, or thereafter, at the option of said MORTGAGEE, as fully and completely ss if all of the said wms of money were wiginatly tt~pulated to be paid on suth day, anything in said promissory note a in this Mortgage to t!?e cootrary notwith:tanding; and thereupq~ w thereafter ~t the option of said MORTGAGEE, witho~t notice a demand, suit at law ot in equity, therefwe w thereaiter begun, may be ptosecuted as if all moaeys setvred hereby had matured priOr to iri institutiw?. 7. That in the event that at the beginni~g of or a? any time pe~ding any wit upon th;s Mortgage, a to foreclose it, or to reform it, or to enfwoe payment of any tlaims 1?ereunder, said MORTGAGEE shall apply to the Co~rt having jvrisdictio~ Ihereof for the appointment of a Reteiver, such Court shall Forthwith appoint a receiver of said mortgaged properry all and singutar, inctud~ry all and singular the incor?ro, profit~, Fuues a?~d revenves faom whalever source derived, each and every of whrch, it being expressly understood, is hereby mwtgaged as if spec~fiwlly set fath and described in the g~anting and habendum clavses hereof, and such Receiver shall have all the b~oad and effective funct~ons and powers in anywise entr~ued by a Court fo a Receiver, and such appointment shail be made by such Court as an ad+nitted equ7ty snd a mafte~ of absolute right to said MORTGAGEE, snd without reference to the adequacy ot inadequacy of the value of the properry mortgaged or to the.sonrency w inwlvency of said MORTGAGOR w Ihe defendaMS, and that such renrs, profits, intane, issves and revenues shall be appiied by such Receiver accwding ro the tien or equity of said MORTGAGEf and the practice of suth Couit. 8. To d~ly, promptly and fully perform, dscharge, execute, effect, complete, comply with a~d abide by each and every the stipulations, agreements, condit'qns and covenants in uid promissory note and ~his mortgage set fwth. 9. That in i~`ce event the ownership of the mortgaged premisos, w any parf thereof, becomes vested in a person other than !he MORTGAGOR, the MORTGAGEE, its svctessors and assigns, may, without notice to the MORTGAOR, deal with such successor or successor in ;oterest with reference to this mo~tgage and the debt hereby secured in the same manner as with Mortgagw w~thout in any way vitiating a d~s:harging the Mortgagors' liability herr under w upon the debt hereby secu.ed. No sale of the p~emises hereby mortgaged and no forbearance on tFie part of the MORTCaAGEE w iri successon or auigns and no extension of fhe time fw the payment of the debt hereby secured given by the MORTGAGEE or its successors or auigns, atiall ope~ate Io release, diuharge, modify change or aftect the original liabiliry of the MORiGAGOR herein, eithe~ in whole or in part. t0, h is specifically agreed tha~ time is of the euence of fhis contrad and fhat no waiver of any obligation hereunder or of fhe obl'gafion se- cured hereby shall at any time thereafter be held fo be a waiver of the terms hereof or of the instrument secured herby. 11. In add~tion to the fwego:ng month!y payments of princ pal and interest required by the promiuory note secured hereby, mortgagor covenants and agrees to pay to mortgagee wirh each monthty payrnent an addirional sum estimated by mo+tgagee to be equal to 1/12 of the annual cost of the follow- in9: A-All real property taxes levied or asseszed agai~st the above described real estate. B-Premiums on fire arid windstorm insurartce as herein requ~red to be canied on the improvemeats situate on the above described premises. C-Premiums on such mortgage guaranty irtsurar~ce as morfgagee shall from time to time deem fit to ca~ry on the ban secured hereby. Mortgagee shall from. t;me to time notify mortgagw in writing of the amount due and payable he?eunder and such sum shall the~eupon be due and payable on the due date of the next monthly payment and each successive month thereaftar ur.til mortgagee shall notify mortgagor of a change in such amount. Such sums shall be apptied by rtwrtgagee toward the payme~t of rea! p~opeity taxes, insurance prem:ums, and mortgage guaranty irtwrance premiums. IN WIINESS WNEREOF, the said MORTGAGOR has hertunto set his hand and seal tt~e day a year first aforesaid, Signed, Sealed and delivered in tix presence of: ~ •n - n - d'1-~ (Sea4 rt.q STATE OF ftORfDA ~ St. Lucie u- couNn oF Befwe me persorwlly appeared Eugene Herndon ~ Mary ern on his wife, to me well krwwn a~d known to me to bs the individuals described in and~ who executed tbe toregoing instrument, and acknowiedged before me that they executed the same for the purposes therein exa~ued. a,a ~;d Mary Herndon ~ wife of fhe said Euaene Herndon vpon s sepsrate snd priv~t~ eaami~aYwn by me taken sepsrate a~d apart from her said husband, actcnawledged ro and befwe me that she execvted said instrumeni freely and volurr ra.~ly and w~thout eny comp~lsion, constraint, spprehension, or fear of a from her said Iwsbsnd, WITNE55 my hand and official seal thi: 12th day of A. O. 19~'~ Notsry Publ' in and fw the State of Fbrida at latpt _ My Comm' ion expires: OCt. 11 ~ 297~~'. Retum To: \~~~~1i1~ijH.;,~~" . ~i Fint Federal Savings 3 loan Associafion , i~r s.R+~~.;:~:s~;~.-z!~ . . . Of Fort Pierce. ~ ~ti y~, - Fort Pierce. Florida f1lE~ ANO RU~T~~f~ V~•~-•'„L-~.~. - T•~ Gr.'_` . ~ 5'(. ~U~tE ~ - ~ , • 7 ~ppltflAS C3 : p~gEit Cp1Nlt . t f,. , s i%.= ER ~ - ~ • - - T his Ins trumen t Prepar e d 6y R i c h a r d K. 1Ca~~ p v E a F E~ Z; a~ ' First Federal Savings 8 loan Association 4y~ ~Z y4_ of Fort Pierce , Florida ~M 13 t' f~rw : ~.':`$c Checked By ~ ~ ' ~ ' ~ goox 201 ~~E101? ~ ~ ~G~.-~ _ ~ _ _ _ _ _ _ _ _ ~ ~ .