HomeMy WebLinkAbout1538 3. To alace a~d conrinuously leep an rhe bui:dir,g~ now w hereaf~er s~tuate on sa~d land and on a11 rqu~p~nent and pe~sonally covrrcd by this ma
ege, wi~h all p~emiums thereon pad m f~tl, f:re ins~ronce ~n ~he us:,al s~a~~ard po'icy form, in a sum aHprovrd by tha h10R~vAGEE, a~~d w~~~dsto
;rw~ante in the w~al atandard po~.cy torm, in s sum approved by the MORTGAGEE, in such cor•pany o? com~~an~es as the A102iGAGEE m
d~rect; and a!I lire and w~ndsrorm i~sur~nce Fal~cie~ on any of said bu~~d~ngs, any interest ~herein ~r par~ ~hercwf, in ihe agg<<gate swn aforesaid
~n excess thereof, shall conie~n ~he us~al s~~ndard mor~gagre clwse a such other c~a~se as ~he Ma~ga9re may requ~re, maAiny rhe ias~ u+~drr smd po
c~es, each and every, payabte to sa~d AtORTGAGEE ai i1s inlerrff may ~ppear, and each and every :uch po!~c~ shatl be pron,p~ty ass gned and de~ivered i
any held by sa~d h10RiGAGEE as funher security to said m~n8age deut, and, not leu than ten (10) days in ad.ance of th2 eap~rat~a~ of each poi~cy, to d~
fver to said MORTGAGEE a renewal Ihe.eo(, togdhe~ with a receipt for the pram~um o( such rer.e+~a1; and there shall be no f~re cr wi~~dsto~~n in~uranc
piaced on any of said build~ngs, any imares? there~n w par? thereoi, unless in the form and wifh the loss payable as aforesaid; and in the event a~y s~n
of money becomes payabte unde~ such policy d pollc~as said 1~1~ORTGAGEE shall havp ~hr opt~on to rece~ve ~nd app:'y the same on acco.~m of the i~x/ebt.d
ness secured hereby o~ ro permir s3~d MORiGAGORS to receive and use it q any pait ~he:eof fcr esn•.r pur,~cs~•s, :.~~hc~t ~h~r,~~ w„~w~~~ cr ~~npo~r
~ng any equ~ty, lien or right unde~ or by virtue of th~s mo:tgagr; and in the even~ sa;d MORTGAGORS sha!1 :or any reason fail to kcep the sa~d premises w
~nwred, or (ail to deliver promptly any of sa~d poGcies of insurance t0 sard MORTGAGEE, or fa;l promptly to pay f~:ty any pre»>~uin therefor or in any
respect tail to perlorm, d~sch,rge, exrc~te, eflect, eompletr, co:nply wi~h and abide by this cove~ant, or any part hereoi, s~~d J?tORTGAGEE may piace a~~d
pay ior such insurance cr any parl thereof w~thout waiving or affecting any option, iien, equ~ty, w righr under or by vinue of th;s Mortgage, and the
f~~l a.nount of each and e.ery such payment shal~ be ~mmediately due and payable and shail bear ~neerest trom tha date thereof uneil paid at the rate o1
n~ne ~r cem~m per annu:n and to~rther v.~th such interest sha~i be sacured by the lien of ~his mortgage.
4. To permir, comm~t o~ sutfcr no waste, impairment or deterioration of said property or any part thereoi.
S. To ~
pay sll and singular the costs, charges and expenses, including s reasonabte atrwney': fee and cos~i of abstrads of title, incurred o~ pa~d at
~ny fime by said MORiGAGfE, beca~se or in the evenl of the failure on the pan of the said MORTGAGOR to du~y, promptly and futly pe~iorm, d~xharge.
: recute, etiec~, complete, comply wah and ab:de by each and every the stipulanons, agreements, cond~tions, and covenann of sa~d prosnissory note and thia f
,:o~tgage any or either, and sa:d cosrs, charges ar+d expenses, each and eve~y, shall be immrdiately due and payable; whether w not there be notite da
~nand, attempt to collect or s~it pend+ng; and the (ul! amoum of each and eveTy such paymero shall bear interest from ~he date thereof v~til paid at the
o~ nine per cantum Fnr an~:u:n; and aIl said cosn, charges a~~d eapenses ~ncurred or paid, togrrher wuh such inte~ast, shall be secured by the lien of th~s }
m,ortgdye.
6. That (a) in the event of any breach o( this Mortgage or defau~t on the part of the MORTGIIGOR, or ;b) in the evrnt any of sa:d sumi of money
here~n referred to be not pro~nptly and fully paid within th;rty (30) days next airer fhe ssme severa!!y become due and payable, without demand o~ ootite,
or ~c) in rhe evenf each and evzry the stipulations, agreements, conditiony and covenams of sa.d prom:ssory nme and th~s mortgage any w either are no1
~uly, promptly and fulty performed, dscharged, e,eecuted, effected, comp{eted, complied with and ab~ded 5y, then in eifher or any such event the said ag
gr~~gate sum mem~oned in sa~d promissory norr then rema~ning unpaid, wirh interest accrued, and ail moneys setured hereby, shatl become due a~+d pay
ao~e forthwith, o~ thereafter, at the opt~on of said MORTGAGEE, as fvlly and comple~ely as ~i all of thr sa~d w~ns oi money were or~ginally s~~pulated
to be ~a~d on such dsy, anything in sa:d prom~sso?y note or in this Morfgage to the conrrary norwithsra«duxJ; and thereupon or thereafter at the op~~on of
s~:d MORTGAGEE, w~thou~ nouce or demand, suit at law w in equity, thereFore or thereaiter begvn.;Ttyyybe prpseculed as if all moneys seCoyed F~ereby
r,,:d mdfUfCC~ pnOf 10 ~t3 In3t~tuhOQ.
7. Thar ~o the event ~hat at rhe beginn:ng oi or at any t~me pe~ding any suft upon this Matgage, a ro fweclctise 7t, or to refwm it, or to enforce
f ayment ol any cla~ms F+rreunder, said MORTGAGEE shail apply to thr Court having junsd:c~~on thereof..tpr ~he appoi~tmenl of. s Receiver, such Cou.rt shall ~
r~:rhwith appo~N a rece~Yer of said mortnaged propcrty a!1 and singutar, includ~ng ail and s~ngu~ar the tn~omg, pr9[~ts, ~ssues, and revenues'rrom whatever
s_ ~~ce drrived, each and every of w~:ch, it being e:press~y undersrood, is hereby mortgaged as ~f 'spKiiC~alfy set fo~th_ a~d def~'r~d en Ihe'9ranting and
t:: endum davses hereof, and such Receiver ~hall have all the kxoad and effect;ve fu~ct.cns and powers in anyw~se emrusted by a Court to a Receiver, and
x~ch appointment shali be made by s~ch Court as an admitted equity and a matter oi absot~re right to sa~d htORiGAGEF, and w;thout reierence to ~he
adeqvacy or inadequacy af the va;ue of thr property mortgaged or to the ao.vency or ~nsoivency of said N10RiGAGOR a the defendanfs, and ~hat such
•~•:rs, profits, inco.»e, issues and revenues shall be appGed by such Receiver accord~ny w the fien or equity of said MORTGAGEE and the practice o( such
Cuurt.
8. To dvty. promplly and fully perform, discharge, execute, effect, complete, compty with and abide by each ar~d every the stipvlations, agreemenis,
cunditions and covenants +n sa~d promissory note and this mortgage ~set fath.
9. 7hat in the event the ownership of the mortgaged premises, w any part thereof, becomes vested in a person other than the MQRTGAGOR, the
.•.~,RTGAGff, its wccessors end ass~g~s, may, wuhout norice fo'the ~M1ORTGAOR, deal with such successw w successw +n i~terest wi~h reference to this
~~.c•tgage and the debt hereby secured in the same manner as w+th Nbrtgagor without in any way vitiating or d~xharging the Mortgagors' liability here-
.^der o~ upon the debt hereuy secured. No sa(e of tiie prem~ses hereby mortgaged and no forbearance on the pa» of the l140RTC-A6EE or its successors
assigns and no extension of rhe tlme for the paymeM of the debf hsreby securcd given by the MORTGAGEE or its successors or ass~gns, s~~all operate
ro re~ease, d~scharge, mod~fy change or affect the orig~nal liao~lity of ~he MORTGAGOR herein, either in whole or in part.
10. It is spec~fically agreed that time is of the essence of this contract and that no waiver of any obl~garion hereurtde~ oi of tht obl'egation sr
cured he~eby shab ar any tirt,e ~F~ereafter be he:d ro be a wa~.er of the terms hereof w of tFu instrumem secured herby.
11. In add:r3u~ to ihe for~~o ng momh[y paym~nts of pri:x pal and interest regu~red by the p~om~sscry no~e secured hereb~, mortgagar covenants
d agr.es to pay to mo~tgagee xnh each monthiy ~.ay~ ;ent an adu~r~onat sum esrn;ated by mortgagee to be equai to 1, t2 of tne annual cost of the follow-
3:
A-All real prope~ty faxas leiied p assessed agai•ist the above deu~ibed real estate.
8-Pr~m~u:ns on frre and windstorm insurar.ce as here~n requ~red to be carried on the improveme~ts s~tuate on the above described premises.
C-Premwms on svth mort~age guaranty ir.svrar~ce as mortgayee shail from t:me to time diem fit to ca~ry on the toan secured hereby.
Mor!gagre sha~i .'rcm r',ne to /:me nor~fy morrgagor in writ~nq of the amou~t due and p~yable hereundrr and such surn shafl thereupon be due and
:~,ab!e on the due da!e of the next mo~rh;y payment and each successive month thereaftar uctil mortgagee shall not~fy mortgagor of a change in such
o~nt. Such sums sF~a.i be applied by mwtgagee toward the payment of reaf property taxes, inw~anee prem;ums, a~id rtgage guaranty inswante
~~•e~niums.
iN Y~ITPJESS :':HER~OF, the said MORiGAGOR has hereunto set his hard and seal the day and iirst {or id_
~~Signed, Sealed an~, deli r in the prexrxe of:
7r
`L~" Seal)
- S
- {Sesq
•
- - i ne s
- .
ca ~G ( a 1 )
S:aTE OF FIORIDA
Urange ~ (Seal)
CJUNTY OF ~ wife;
fore ~ an a a, Kenne t h I. Van Cot t, Jr . and Vicki I. Van Cot is ~
;.~a r 1 ~ . ~~i.~"~~'~~ n . , ; Y
r P Y"nu ~nri am K?i ~ ]pCwife, to me well known and known to me to be
rhe ind~viduats described in and who executed the foregoing i~strument, and acknowledged before me that they executed the same fw the p~rposes
~~~~e~ expr ~d. a~,d rhe,sa- iCki I. Van Cott wife of the said Kenneth I. Van Cott Jr.
-1nxr~~~~~ft . i e o e sai r . Yo , an u . erguson wi e~ ~ie
upon j separNe a p?ir+t~
e.am~nat~on by me taken separate an apart irom~3;~i~husband6acknowledged to arx! before me that±~e executed said instrument ftetty aqd vplyrt ~
~aniy and w~thovt any compu~sion, tonst~aint, app JC~ipr fea~ of or from sa;d husband5. Ln@~7 !
c> ~C ~r~
WIiNE55 my hand a~d offitial sea! this-__T„C~_ day of t e1I June ~~~~,t~.~.D. 19_1._
~ ~ - . . : _
Notary Public in and or the State of Flotida jt,lary~ y
Retvrn 70: My Comm~ssion eapires: ~
First Federal $avings 3 loan Assptiation ~
of F~~t P t~~z. Notary Pudic State ot Fbrida at ~rget ~*i ,
My commiuion expires JuI~? 2a; • 1974
Forr P~er~2. Hcr;;Jj ~
• fI~EO ~h. .'.~~GROE6 • . ~ ~ .
ST. WC.~ CGJtvtY f~,~. . . •
R~i,c~ Pu1TR/$ .
This Instrument Prepared By I• E. Estridge ~ I I I R~~CL~ rK ~~~i C011ltT ~ ;
First Federal Savings 8 Loan Association '~'p„~~w~ ~
of Fort Pierce ~ F1olCida? ,
Checked By~" - ~ ~~'•i
231819
~~RK~O~ P~~1538
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