HomeMy WebLinkAbout0240 3. To pla:e and contin~ous~y keep on fhe bu~'~~ngs now cr herca(trr ait~ate on sa~d Iand and on a~~ equ~pmaM and pe~so~ally ccve~ed by this mo~
age, w~~h all premi~ ?s ih~reon {•o.d in full, t~re ~r.suro~~ce ~n ~I~a us~al araexlard po!~cy io~m, in a sum aHp~oved by ~he h1JR:G~GEE, and w+~~dsto
~~~wrance in the usual s~a:+da.d po~.cy form, in a sum ap{~ro.rd by ihe h10RiGAGEE, in such company or tom,~an~es as the AtORTGAGEE m
d~recr; a~d all lire a~d w~ndsronn insura~ce pol~c~~•s on any of s~~d bu~~d~ngs, any ime~est theiein or part th~reol, i~ the aggr•~gare sum aloiesa~d
in excess thereof, shall :untain the ueual st~ndard mor~g~gee clause or wch other c~ause as ~he Mo~~yagee may requ~re, maM~~g tha wss ~ndrr s~~d po
c~es, each arul every, payab'r to aaid hIORiGAGEE as iti inrrr~-s~ may appear, and each and every s~ch po~~r,+ shail l~e p~omptiy ass gn~•d and deGvered :
any held by said A10RIGAGEE as furthrr sec~nry to sa~d nw~~9age debt, and, not less than ten (101 days in advJ~~CG of ~he expuahon of each pol~cy, to d~
I~ver to sa~d MORTGAGEE a renewal thrreof, logether with a ~ece~pt for the premwm of wch renr~a~: a~~d thrre st,ail be no Lre or ~w~~os~orm insuranc
pl~ced on any of said b~ild~~~gs, anY iroerest therein or part therrof, unless in the form and wifh the loss payable as afo~esaid; and in the event a~y sun
of money betanes payable undet s~ch policy a pol~cias said h10RTGAGEE shall have the opt~on to rec~~ive .,nd app:y 1tie sarne on accovnt of Ihe indab~~•d
r.ess securrd he~eby w to perm~t sj~d MORTGAGORS to retaive and use if Ot any ~arl th~:eof for o:nc~ Hury os~s, :..~ii.~t th'•.:~~ •v:~~~ ur ~~up:~r ~
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iny any equity, lien w riyht unde~ or by virtue of Ihis mo~tgage; a~d in the event sa:d MORTGAGOR$ shall Ior any reason iai) to kcep Ihe said p~e~nisrs so ;
~nsvred, or fai~ to delive~ promptly any of said pol~cies of insurance to sa~d MORTGAGEE, or fa~l p:on~ptly to pay fu~ly any pre~nwm therefor or in a~Y !
resped fail to perform, discharge, execute, e(fect, complete, cotnply with and abide by this cove~ant. o~ any p.~~t hereo(, said MOR7GAG~E may place a~d ~
pay for such insur~nce o~ any pa~t thereof w~thout waiving w aflecting any opt~on, lien, equ~ty, or right under or by virtue of this hlortgage, and thc
fu11 amount of each and e~ery such paymem ahall be immed~ately due ar+d payable and shall b.:ar interest from the date thereoF until paid at the rate ol ~
~vne per centum per annum ond to~e~hc~ with wch interest shaii be sawred by the lien of Ihis mwtgage.
1. To permit, commit w sufier no waste, impairment or deterioration of said property or any part ihe!eof.
S. To pay all and singvlar the costs, charaes and expenses, inctuding a reasonable ateorney's (ee and costs of abstracts of title, incurred or paid at
any time by sa~d MORTGAG:E, because or in the event of the fa~lure o~ the part of the said MORTGAGOR to duty, promp~iy and futly parform, d~scharge.
~aecute, e(fecf, comp2ete, co~nply wdh and ab:dr by each and every the stipu~anons, agree~nenes, tondmons, and covenants of said prom~ssory note and th~s
n,orrgage any or e~~her, and sa:d cosrs, charyes and expen:es, each a~d every, shjtl be immed~ate~y due and payabie; whether or not there be norice d<
n,and, attemp~ to collecl or suit pend~ng; and the futl amouM oi each and every svch paymrnt shall bea. enrerESt from ihe date thereof umil paid al the
~•r~ of n~ne per crntum p~:r annu:n; anc: atl sa~d cous, charges at~d ex~enses i~x~rrrd or pa~d, ~ogciher w~th such interest, shail be sec~red by the Gen of this
mortgage.
6. That (a) in the event of any breach of this Mortgage or default on ~la_ part oi the A10RTGAGOR, or ~b) in the event any of sa;d sums of moRey
here~n ~elerred to be not promptly and futly paid wirhin th~rty ~30) days nex~ airer ~he sa~ne se~era::y become dve and payable, without demand or nonce.
cr ~c) in thr event each and every the st~pulai~ons, agreements, cond~sions a~d co~rnants of sa d prom~ssory notr a~~d th~s mortgage any or e~ther a~e not
i~~:y, promptly and fully performed, d.scharged. execured, effected, completed, c ii~ed w~rh and ab~ci~~d 5y, then in e~ther or any such event Ihe sa~d ag
3rr3~te sum mentioned in sald promissory note thrn remain~ng unpa~d, with in :st acuued, and a~l moneys secured hereby, shall become due and pay
e:; e f~rthw~th, or thereaher, at the opr~on of s~~d MORTGAGEE, as fully and comp:e~ely as if atf of thc sa~d wms oi money we~e o~~gmally st~pu:ated
ro ee pald on such d:.y, anything in sa d pran~ssory note or in this Mortgage to the ca~rrary nOt~v~I~1Si3~~(~~ng; and thereupon or therealter at the op~~on of
s, d MORTGAGEE, wunout notice or demand, swt at taw or in eq~ity, therefore or thereafier begvn, may be prosecuted as if all moneys secured hereby
r.._d matured pnor to ~ts mstituho~.
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7. That in the e+rent that at the beginn~ng of or at any t~me pend~ng any suit upon th~s Mortgage, or to foretlose it, or to reform it, or to enforce
~ ~yrnem of any claims hereuntiar, said MORTGAGEE sha'1 apply to the Court havirt9 ~u~~sd.ct~on thereot for the appomtmeM of a Receiver, such Court shall
+erthw~th appoint a receiver of sald mortgagrd prop.ity eIl and sirx~u~ar, includ.ng ail and s~ngular the irtcome, prof~ts, iss~es and ~evenues from whate~er
sc ~,~ce derived, each and evrry of wh~ch, it belny express!y ~nderuood, is hereby mortgaged as if speoficaily set forth and described in the granring and
!~oendum dauses tsereof, ar.d wcfi Receiver shaU have au the broad and efiecnve funcr,on: and powers in anyw~se entrusted by a Cou~t to a Receiver, and
s_ch appoinrment shall be made b~ such Court as an adni~ted equity a~d a ~~~aner of absol~te right to said MORTGAGEE, and w~thoul reference l0 1he
a;f~_quacy or inadeq~aty of the va~ue oi the property mortgaged w to the so.vency or inso~vency of said RtORTGAGOR or the defendants, and thet such
•~~s, protifs, inco~ne, issues and reven~es sha{i be applied by such Rece~ver accord~ng ~o ~he ~ien or equity of said MORiGAGEE and the practice of such
Court.
B. To duty, promptiy and fully periorm, discharge, execure, effect, complete, comply with and abide by each and every the stipuiations, agreements,
~ ondrtions and covenanrs m sa~d promissory nute and fh~s mortgage se+ forth.
9. That in the event the ownerah~p of the mortgaged pren,~ses, w any part tnereof, becomes vested in a person other than the MORTGAGOR, the
:~RTGAGEE, its s~ccessws and ass~gns, may, w~shout nonce to the AtORTGAOR, deat w~th such successw w successor in interest wifh reterence to this
_ c•sgage ar.d the daut he~eby secured in the same man~er as wi~h Mortgago. witho~t in any way vitiati~~g w d~scharging the blortgagors' Iiability here-
,~~Jer or upon :he deb~ hereby secured. No sa.e of the Fremises hereb~ mortgaged ar.d no forbearance on the pan of the /1lORiGAGEE w its successws
assigns and no extension of the hme for ihe paymem of the debt herehy sewred given by the MORTGAGEE o~ its successors or assigns, ai~all ope~ate
eo reiease, d~scfia:ge, mod~fy c'~ange or affect the orig,nal liab,Sny of the MORTGAGOR herei~, eithe~ in whole or in part.
10. It is speuf~cally ag.eed that time is of the essence of th~s contract and that no waiver of any obfigat~on hereunder w of the obligation se-
c.~•~d heteby shaf~ at any G~;e thereafter be he'd to be a waiver of the te:ms hereot w of the instrumem secured herby.
11. :n a:id.r~o~ to rt,e foregc ng month!y paym^nts of p~inc pal and imerest reqvired by the prom sscry ~ore secured hereby, mortga~or covenants
~ ci agrees to pay ro r.,u•fgayee w~th each monthiy pa~•.:ent an add~rional wm est~.i:atcd by mortyagee to be eq~ai ro 1; 12 of the annual cost of the fotlow- ~
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A-Alt r~al property taxas lev~ad or assessed agai•~si the above descriticd «al esrate. ,
B- Pr_r.;:;,•ns o~ fve and v.:r.dsro:m insurar.ce as he~ein requ;red to be ca~ried en ~he +mp~oveme~ts s~tvate on the above descrlbed premises.
C-Prem:ums o~~ such mortg,ge guaranty icsura~.ce as mo~tgagee shall fror.m t me ro time deem fit to carry on the loan secured hereby.
hlortgagee sha~~ frcm tnne to t~me nor~fy morrya7cr writing of the arnount doe and payab~e hereundar ond such wT shai! thcrcupon be d~e and
~ .;bie on tha d~e date of ~he ne~et mOmh:y payment a«d each success:ve month tfiereafter ur.t~l mortgagee shall notify mortgagor of a change in such
~ ~;,nt. Such wms s~a:i be a.o ed b mort a e toward the a ment of real ~o err raaes, ensurance rem;ums, and mort a e uarant insurance
i p. ~ Y 99'- P Y P P/ P 99 9 Y
i . ~~^iums. _
f IN WITNESS WHfREOF, the sa~d MORTGAGOR has hereunto set his ha~;d and seal the day and year first aforesaid.
f ~ ne~, Seated and Ii e~ed in the presence of:
~ ' h-~. ~,~vt'-~_ «a~
~ _ Ruth M. Arter t~aq
( _ t5eaq
i ~Seal) 3
~
~ _":aTE OF fIORlDA t
T S5.
r ~JUNTY OF - St~ 1-11C1e 1 '
Befwe me perwnally appeared Ruth N~. Ar.ter, a single adult ~
~ Fdt~AES, to me well known md known fo me to be
~h_ ind;vidua~ described in and who executed the forego~ng instrument, and ackrtowledged before me that she~ execu.qd tAe }arvle fyf tFx purposes
•
rhe.ein eapressed. 41ii~N+Z~~3T~ . ' .
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~ ~i b ~uE sl~ ~sl~ _ - ~ ~~C~ A~r1~i~+d ~~+t~
~ ~atmamo~x,.~oreopa~~sa~ss~?~aci~sr~a+ai~mbom#aaneaRsdg~a~a~sea.emesla~cas~es~fao~~ormra~wM~~olRps
~iqcand~ftoocsrg~pq,~ve~aasasa~rappraFasto~i~nc~ofxs?~R1fssAtl~R~~Dshd. . r1 ~
~ WIiNE55 my hand and offiual seal th~s_ $Lt1 day June t~0.: D. 19 72
~ . .
~
~ Notary Public in and fo~ ~t4i~~St pf.FTp~ida•~1 Larye
::s My Comm~ssion e:pires: , "
~ _
H Ret~rn io:
~ F~rst Federal Sav~ngs b Loan Assoc+at~on NJTARY PUBIIC. STATE M FLORIDA at LARGE
of fors P~~ce O µ4 M~G~1~(~~ ~ MY CQMMISSION E7(PIRES SEPT. 25, 1975
~ F~~~ F~t•rcc Ftor~d~ S~4`~G~t ~pUM~AOu~~ ,~c.~ Br American Bankers Insunnce Co.
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C4Et J _ .
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This Instrument Prepared By John W. CO ~lins~ r~ ~
~ First Federal Savings & Loan Association wy J
~ of Fort Pierce , Florida Yw•
~ }
Checked B,~__._- - 2309~8
~ °~RK 203 pACE 240 ~
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-~~~-,,..~v"~~.rs.~
~ ~-~€.r' r • " s~ ~ ~ ~
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