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HomeMy WebLinkAbout2062 3. To place and co~linuously keep on the bu7!d'+ngs now o? hereaftei ~~tvats on sa~d land and on al~ equipment and pe?sonally cove~od by this ma i ags, w~th ail premlums therco~ pa;d in iull, i~re insurance in ihe usual standard polity form, in a sum approved by the MOR(GAGEE, and wi~dsto insu~ance in the usual s~andard pol~cy iorm, in a sum approved by the MURTGAGfE, in such company o~ tompan;es ai the MORTGAGEE m dl~ect; and ~II iire and w~ndstorm i~surance policies on any of said build~nys, any Interest therein or part thereol, in Ihe agg~egate sum afo~esaid in exceu thcroof, shall contain the usual sta~~dard mortgapee tlause a such oth~ clauss as tM Matgagee may requ~rs, making tha loss unda ia~d po c~es, each and eve~y, payab~e to sa~d h10RTGAGEE as ~ts intereft ma;• appaar, and each and eve~y suth po~~cy shall be promptly ass gned a~d delivered ti sny held by said MOR(GAGEE as further security to said mwtgage debt, and, not Iess than ten (10) days in advance of the expiration of each policy, to d~ Gver to said MORiGAGEE a renewal thereof, foge~her with a recNpr fw the premium of such ?enewa); arid ihere shall oe no i~re o~ w~~~dsto~m insurar~t plsced on ~ny of said buildirx~s, any interett there~~ w part thereof, unleas in ~he form and wi?h the tost payable as afwesaid; and in the evenf any su~ of money becomes payable unde~ such policy or policies said MORTGAGEE shall have the opt~on to receive and apply the sa~~e on account o( the indebted ness secured hereby o~ to permif sa;d MORiGAGORS ro receive and use it p any part thereof for otiier pur~~osrs, .v~~hout ih_.~ur wa~~i~~g cr ~mpsir ~~g any equity, lien w righl under or by virtue of this mo:!gage; and in the event said MORTGAGORS shall Eor any ~eason fail to kecp the said premisrs so insured, o~ (ail to deliver p~omptly sny oi said poticies of insurance fo said MORiGAGEE, or fai! promptly to pay fully any premium the~efor a in a~y ~e~pect (ail ro pertorm, d~scharge, execute, e(fect, complete, comply wi~h and abids by this covenant, w any part hareoi, said MORTGAGEE may place and pay fw such insurance or any part ~hereof w7fhout waiving or affecting any option, tien, equ~ty, or .ight under o~ by virfue of this Mo~rgaqe, and fhe fuN amount of each and every such payment shall be immediately due and payaui~ and shall bear interest from the date Ihereoi u~~il paid at the rate ol nine per centum per annum and to~ether with such inte~est shali be secured by the lien of this mortgage. 1. To permit, commit w auffer no waste, impairment w deterioration of said properry p any part thereof. S. To pay all and singular ~he costs, charges and expenxs, inctuding a ~easonable attwney's fee and costs of abstracts of title, incurred or pa~d at any tlme by said MORTGAG:E, because w in the event of the Ea~lu?e on the pa~t of the said MORTGAGOR to duly, promptly and fully perfwm, d~scharge. execute, effeu, complete, comply w~~h and ab:de by each and every ~he stipu~ations, agreemems, conditions, ar~d covenants of ssid prom~ssory note and ~his :no~~gage any w e~~her, and satd costs, charges and expenses, cach and eve?y, shall be immediately due and payabte; whether w not there be notice da n,and, attempt to colled or suit pend~ng; and the full amovnt of each and every such payment shall bear interest from Il+e date thereof_ until paid at the r.~re o~ nine per cent~m p.:r anuum; and aU said wsts, charges and expenses incurred or paid, fogether w~th suth interest, shall be setwed by the lien o( this mortgagt. 6. Tha~ (a) in the event of any breach of fhis Mwtgage or defaul~ on the part of the MORTGAGOR, w(b) in the event any of said sums of money herein referred to be not promptly and fuily paid within thirty (30) days ~ext aiter the same severatly become due end payabk, withoul demand o? not;ce, or (c) in the evenr each and eveiy the stipulations, agreements, conditions and covenants of sa',d promissory note and th~s mor~gage any w either are nol ~uly, prompNy and fully perfwmed, d~schargzd, eaecuted, effected, completed, compGed w~th and abided Sy, then in e+~her or any such event the sa~d ag gregate s~m mentioned in said promissory note then remai~ing unpaid, with inte?est accrued, and a1! moneys secured hereby, shall become due and pay- ab~e forthwith, or the~eafter, at the oprion of sa~d MORiGAGEE, as fully and comple~ely as if all of the said sums of money were originally stipulated to be paid o~ suth dty, anything in sa:d pro~nisswy note w in this Mortgage to the contrary notwithstanding; and thoreupon d thereafter at 1he option of sa;d MORTGAGFE, without notice or demand, suit at law or in equity, thtre(axe or thereahrr cmju~, may be prosetuted as if all moneys secured hereby nad matured p~~w lo its i~stitution. 7. That in the erent that at the beginning of or at any tirrK pending any suit upon this Matgage, or to foretlose iL or to reiwm it, or to cnfwce payment of a~y tlaims he~eunde~, sa~d MORTGAGFE shall apply to the Court having jur]sd~a~on thereof tw the appoimmem of a Receiver, such Co~rt shall Forrhwifh appoint a r~eiver of said mortgaged property all and singular, includ~ng all and singutar the ir.come, profits, iuues and reven~s irom whateve? so~rce derived, each and every of which, it being expressly understoad, is he~eby mortgaged a~ if speti(ica!!y xt iwth and dexribed in the granting a~d F~abendum clavses hereof, and such Receive~ shall have all the broad and effective funct~o~s and powers in anyw~se entrusted by s Court to a Receive?, and s~ch appointment shall be made by such Court as an ad~niited equi~y and a matter of absolute right to said MORTGAGEE, a~d without reference to rhe adequacy a inadeqvacy of the value of the property mor~gaged or to the so~vency or ;nsotvency oi said MORTGAGOR or the defendants, and that such rems, profits, incane, issues and revenues shall be applied by such Receiver according to the ~ien or equity of said MORTGAGEE and the practice of such CourL 8. To duty, promptly and fully perform, discharge, execu~e, elfect, mmplere, comply with and abide by each and every the s~ipulations, agreements, :onditiona and covenants in sa~d promissory note and this mortgage set fwth. 9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the MORTGAGEE, its successors and assigns, may, witlwut norice to the MQRTGAOR, deat with such successw or successo+ in inte?est with reference to this r.,o~tgage and the deb~ hereby sec~red in the same manner as with Mo~tgagor without in any way vitiating w d~scharging the Mortgagora' liability herr under or upw~ the debt hereby secu~ed. No sale of the Frem~ses hereby mwtgaged and no forbearance on the part of Ihe N10RTGAGEE or its successws or assigns and no extension of the time for the payment of the debt hereby secured given by the MORTGAGEE or its successors w auigns, si~all operate ro release, d~scharge, modify change or affect the orig~nal liability of the MORTGAGOR herein, eitl~er in whok or in part. 10. It is speufically agreed that time is of the eue~ce of this contract and that no waiver of any obligation hereunder w of the obtigation se- cured hereby shall at any tirr~e rhe~eafter be held to be a waiver of f}u terms hereof w of the instrument secured herby. 11. In add;t;on to the forego:ng monthly paymems of princ'pal and interest required by the prom~ssary no!e secured bereby, mortgagor covenaMs and agrees to pay to mo:tgagee with each momhty pay~~ent an add~rional sum estimated by mortgagee to be eq~al to 1; 12 of the annual cost of the follow- ~ny: A-Ali real property taxrs levied or assessed agai~st the above described real estate. B-Pramiums on fire and windstorm insurar.ce as 6ere~r. r,q~~:red to be ca~ried on the improveme~ts sitoate on the above described premises. C-Pre~niums on such matgage guaranty insurar~ce as mortgagee shall from t~me to time deem fit to tarry on the loan secured hereby. Mortgagee sha'1 iiom ti~ne to time notify mortgagor in writing of the amount due and payable he~eundr~ and such surn shall thereupon be dve and ; ayable on tbe d~e dafe of the next month!y payment and each successive mor:h thereaftcr urlit mortgagee shall notify mortgagor of a change in such a~~ount. Such sums sNail be app!ied by m~xTgag?e toward the payment of real property taxes, insurante prem:~ms, aixl mortgage guaranty insurance emiums. IN WITNESS WHEREOF, the sa~d MORTGAGOR has hereunto set his hand and seal the day and year fir 1 af`'%/E~~ Si9ned, Sealed and detive?ed in the presence of: y~Ly~l~•~~~ . H • rcaary Leonard h'lke ~a~~ - (se~l? ~ E~hel Schilke r~sJ) ~ SiATE OF FtORIDA ~ COUNTY OF St. Lucie Before me perso~ally appeared L~nard~6ehilke a~ ~ Ett1@I Schilke his wiie, to me well known and known to me to be the individuals deuribed in and who executed the foregoing instrument, and acfcnowtedged befo?e me that they executed the same for the purposes ~ rhe.ein expressed. And the said Bthel Sehilke N~re oi t~ ~~d Leonard H. Sc i e examinat~on b me taken se pa upon a sepuate snd p?ivsts y parate and a rt irom her said hvsband, acknowledged to and before me that she exec~ted wid ins~rumeM freelr and volun- rar~ly and wiihout any compulsion, constraint, apprehe~i~? Qr fesr of or from 1?er said husband. - , WITNESS m hand and official seal this 3ZU ~y ~ 72 i Y dsy of ~ p;•19 • ~ t < Notary Public in and for the o~ F '!!latpe ~ ' My Commiuiw~ expires: ~ s/ Return To: ' ~ , First Federal Savings b loan Associat~on y : ~ Of fort P~eice. Fort P~erce, Flor~da f LEO AND RECOR¢E~ ~i i~. WCIC COUMTY fLA. - ' ; ROC[F ~ ~ RiS `~Y~''' CIERR C~~ .UIT COURT d" I RECAR^ Y~F+iiEp~~~~L~~ ~ This Instrument Prepared By Richa rd K. Kayes ' First Federal Savings 8~ Loan Association ~Y 1~ 3 ui PN ~~Z I of Fort Pierce ~ F~orida 230i2$ ~ Checked By ~ ~ ~ i BQOK ~O2 PAC[ 2Q60 JS ` { . _ _ ~ v.. - , - - - .