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HomeMy WebLinkAbout1121 t 3. To p~aca and conrinuo~sly keep on the bui'd~ngs now a hereafter ~~tuate on said land and on al! equ:p~nent and pe~so~ally cova~ed 5y this ma ege, w~ih all premiuml thereon pa:d in futl, I~re ir.s~rance in the usual standard poticy Form, in a s.~m app~oved by the MCRfGAGEE, and w~nds~o i i~surance in the usual standard pol,cy for~n, in ~ sum approved by the MORTGAGEE, i~ such company o~ compan~es as tM MORTvAGEE m d~rect; and atl fire and w~nda~oim insv:ancr poGues on any of said buitd~~+gs, any in~eres~ ih~rein o~ ps+~ thr~eol, in Hu a99~e9ata svm aforesafd in excess the~eof, shall contain the usuat stand.~rd mo~lgagee cfause or such othe~ dsuss +s the Nlortgagee may requ~re, making the loss under sa~d po c~es, each and every, payable to said hIORTGAGEE as its inte~est may appea~, and each nr,d every such poi~cy shall be promptly ass.~ned and deti.•ered ~ any held by said h10RTGAGEE as furrhe~ secwity to said mortgage debt, and, not less than ~en (10) days in advance o~ the expiralion oi each polity, to tk Gve? ro said MORTGAGEE a renewal thereof, togethar with a receipt for Ihe premivm oi suth renewal; and there shalt be no f~e 3r windaio~m insurant placed on +~y oi sa~d buildings, any interest there+n or parl thercof, unlesa i~ Ihe fo~m and with the loss payable as aforesa~d; a++d in the event any sun of money bccanes payable u~der such policy or po~~cies ss~d MORTGAGEE ahall have the opt~on to receive and apply the same on atco~n~ o( the indebted neis secured hereby w to permit said MORTGAGORS ro receive and use it w any part the:eof fa~ o:ner Fur; oies. wni~out ih~.~o; w;.r+~.~3 ar unpoir ing any equ~ty, lien w ri9ht und~r a by v+rtve of this mor:gage; and in the even~ sa~d MORTGAGORS ~hatt `or any reason fail to keep the sa~d premisrs so infured, or iail fo deliver prpr.plly ~ny of said polities of insurance to said MORTGAGEE, or (aii pro~nptly to pay fu~ly any pre~n~um lherefor o~ in any re~pect fail b{xrform, d~acharge, execute, effect, comp~e~e, comply with and abide by th~s cove~ant, or sny part hr~eof, sa~d MORTGAGEE may placa a~d pey tw such i~surance w sny part thereof without waiving or affecting any option, lien, equity, or right unde~ w by virtue of this Mortgage, and the full a~nount of each and every such paymenl shall be immediately dvs and payable and shall bear interest from the date thereof until pa~d at the rate ol n~ne per cenrum per annum and together with such inrerese shall tx secured by the lien of th7s mortgsge. 4. To permit, commit or suffer no waste, impairment p dete~ioration of said property a any part thereof_ S. To pay all and singula~ the costs, charges and expenus, including a reasonable attorney's fee and costs of abstracts of title, incurred or paid at any t~me by said MORTGAGfE, because or in the event of ~he failure oa the part of the said MORiGAGOR to du1y, prompNy and fully perfwm, d~scharge. ~,ecute, effect, compkte, comply w~th and ab;de by each and every the stipvlations, agreements, conditions, and mvenants of sa~d promissory ~ote a~d ~hii r,atgage any ar eithe~, and sa~d costs, chsrges and expenses, each and every, shalt be immediatrly due and psyable; whether w not ~here be nor~ce d~ fnand, attempt to collect or suit pend~ng; and the full amount of each and every such payment shall bea. interest irom the date the~eot until paid at the r~ie o~ nine per cent~m per annum; and all said costs, charges and expenses incurred or paid, together w~th wch interest, aF?ail be setured by the lien of thi~ mOrl9~f. 6. Thst (a) in the evenl of any breach of this Mortpage ot default on the part of the MORTGAGOR, a(b) in tht eve~t any of satd sums of money he~ein referred to be not promptly and fully paid within th~rty (30) days neat after the same severally become due and payable, wilhout demand or notite. or (cj in the event each aod every the stipu:arions, agreementa, conditions and covenants of sald promissory note a~~d th~s mortgage any o? eilAer are not iuty, p~omptly and fully perfonned, d.xharged, exec~ted, effetted, compkted, complied w~th and ab~ded 5y, then in either o~ any such event Ihe said ag ~~egate sum mentioned in said pranissory nore then remaining unpaid, with interest accrued, and a!1 moneys secured hereby, shall become due and pay- ab:e fo~thwith, or thereafter, at tMa option of sa~d MORTGAGEE, as fully and completely as if all o( ~he said sums o1 money were a~g~naUy stipulated ;o be pa:d on such day, anything in sa:d prom~sswy note or in this Mortgage to the contrary notw~thstandi~~g; and ~hereupon w thereafter a~ the opuon of ti~:d MORTGAGEE, without not~ce or demand, suit at law or i~ equity, therefore or thereafrer begu~, may be prosecuted as if all moneys secured hereby n.:d matured pr+or to ~ts institution. 7. That in the event that at the beg7nntng of or at b~y time pend~ng any su~t upon this Mo~tgage, w to foreclosr it, w to reform it, or to enforce paymeM of any daim.s hereunder, said MORTGAGEE sha? apply to thE Court havi~q~Wg d~~thereof for the appo~nt~~ent of ~ Receiver, such Cour1 shall Fo: rhwith appoim a rece~ver of said mor~gaged property aIl and singular, irxlud~ng alf an8 s sil thl+ilSeor~pl, pqf,ps, iuues ~+d revenues from whatever source derived, each and every of wh;ch, if be~ng expressfy unders~ood, is hereby mor~gaged as ~~f~ally ~t fwth and~deicribed in the glanting a~d habendum dauses her~rof, and wch Receiver sha11 have all the broad and effectiv~~~wit~i~ns:~ndrqpweg in inyw~;e ~mrusted by a Court to a Receiver, and suh appoiMment shafl be m.ade by such Court as an admitted equity and a man~~f~ie !i~~P ;ai5( k1aRYGA'~'iEE; and without referente to the eeiequocy ~x inadequacy of the value of the property mortgaged or to the so~ve~~~ipsqLvep~y_o~s3id;1V~ORT6•ACOR 101f.tl~w~~efendants, and that such ren+s, profin, incane, issues and revenues sha? be applied by such Receiver accoi~Ytd the lien w equ~iy.~fKaid Jk?OR~GA~ a~d tne practice of such Court. 8. To duly, promptly and fully perform, discharge, execute, effect, complete, comply with and abide by each and every the stiputationa, sgreements, conditions and covenants in sa~d promisso~y note and this mortgage set fwth. 9. That in the event the ownership of the mortgaged premises, w any part thereof, becomes vested in a person other than the MORTGAGOR, the M1'ORTGAGEE, its successws and asa~gns, may, without notice to the MORTGAOR, deal with such successa a successw in i~terest wi~h reference to this rrorrgage and the debt he~eby secu:ed in the same manner as with blortgagor witlw~ut in a~y way vit;atirg w discha~ging the ~Jlarrgagors' liabitity here u~der a upon the debt hereby secured. No sale of the premises hereby mo~tgaged and no forbearance on the part of the MORTGAGEE or its successors cr assig~s and no extension of the time fw the payment of :he debt hereby secured given by the MORTGAGEE or its successas or au~9ns, ahall operate to releese, d~scharge, modify change or affect the original IiabJity of the MORTGAGOR herein, either in whole or in_ part. ( 10. It is speuf~cally agreed tha+ time is of the essence of this contract and that ~o waiver of any o6!:gation hereunder w of tho obtigation se- curcd hercby shall at an~ time the.eatter be he!d to be a waiver of tFx terms heieof w of the instrumem setured herby. 11. tn aJd.rion to the forego ng mon~hty paym_nts of princ pal and inrerPC~ .•o:,~i:e~ by the pronrssory note secured hereby, morigagor covenants a^d agrees to pay to mo-tgagee wi~h each mo~rhiy payr.;em an add:rional sum esfin,ared by morsgagee ro be equal to 1; 12 of tha annuai cost of the follow- ~ng: A-All real prope.ty taaes levie3 or assessed agai~ist the above described real estate.' B-Prem~ums on fire and windstorm ]nsurar.ce as herein requ:red to be carried on the improvements siwate on the above d~scribed premises. C-Premiwns on such mortgyge guaranty ir.sura~.ce as mortgagee shall fiom t,me to time deam fit to carry on t!u toan secured i~ereby. j Mortgagee shall ffom time to time nor;fy mortgagor in writing of the amount due and payable hereund.r and s~ch sum shall the.e~por, be due and E ,,~ble on the due date of the neat momhly payment a~d each svccessive month thereait•ar ur,til mortgagee shali not~fy mortgagor ~f a change in such F ount_ Such sums shali be apptied by mortgagee toward the payment of real property taaes, insurance prem:ums, and mu:!gage g~aranty insurance i ~ ~~•emiums~ ~ IN WITNE55 WHE OF, the a~d MORTGAGOR has hereunto set his hand and seal the day a ear first aEoresa~ t led a de ' r xnce of: ~ ~L~ G2'~~° .n ~ i ness ~Ja~s S. L s t~,i) ~ ~CY,c~ ~ ev DP _ cQ (5-~n ~ Wi es Hilda R. Landis ~ s~ATE O~ Michigan l.t/A Y /Y/~ ~ COUNTY Before me personally ap~e ared '~a~S 1'~1diS - a"d Hilda R. Le?Ila~S h~s w~~e, to me wet! krsvn and known fo r*:e to be th= individuals described in and who executed the foregoing irtstrument, and acknowledged before me that they e:ecutcKi the sartK fw t!x ~:+rposes rhe+ein expressed. And the said H11~ . Landis nlfe of the aa~d .j~~3 S• Landis upon s separate and private e.am~natio~ by me take~ xparate and apart from her said husband, +cknowledged to and befo~e me that she execused zaid instrumsnt !reety and volurr ~ ~ r3r~ly and w~rhout any compulsion, constraint, apprehens~on, or fear of w from hcr said husband. J~~ ~ t ~ WITNESS my hand and offic:al seal thiL day of ~ A D. 19 72 ~f-/-~~~r~ / ~ i/! l~c Notary Pubtic in a for the St te of ~ at lary~ • My Commission expires: (~1C t)8,I1 ~ eef~r~ To: WILLIAM E. NIOSS ~ first Federal Savings 6 loa~ A:sociation ~ Of Fort P.r:ce. NO~ry PU~JII~. ~i3]I!1°,LCU~ty. 'ti:C~l. _ Fo.f P;erce. Ftor~~~ MiY Commission ExFiras ~lov. 7,1?7~ ~ IIlEO AtiO'£CG~RQ~~ .a~~~~j~ j%.,,, ~ ST.IUCit GOUNT FL ~y Thic Instrument Prepared By= ~1. H. ROberts~ JY. ROC,:r~ ffiiTRAS ( • ~ First Federai Savings 8 Loan Association CLER!• i.t+~~~~T COURT __'•.y~ r_.._ ~ , Florida 33450 RfCL~~ ^ ~.~ftEO _ -y'~ .y _ , ort Pierce ~ _ ~ Checked BY ~ ~ Sl l H _ : ' ~ e~~ i ` ~F~ _ '.~4'\ i , ~ ~ RK203 PAGE~~~.1. ~1.~~ = , ~ ~ ~ QQO _ _ . - - - - _ ~ ~~~~~h~=~ ...f_, .