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HomeMy WebLinkAbout2005 3. To p~ace and continuo~s~y keep on the bui'd~~~gs now or hereaf~er ~~tvate on se~d land ar.d on ale eq~ipment and personaUy cove~ed by ~his ma ege, with dU pre~»iumt ~hereon pa:d in ~ull, i~re ins~iance in ihe uswl stand.+rd po;~cy form, in a sum aFprored by the MORtGAGEE, a~~d w~~~dsro ,nsurance in ~he usual standard pc>I.cy foim, in a wm appro.ed by the MORI3AGEE, in such co.~~pany o~ co:npanies as the 640RIGAGFE m d:reU; and all iire and w~~dstorm insurance po~~c~rs on any o( sa~d bu~~d,ngs, any in~ernst ~he~ein ~r part thereof, io ~he aggrzyate wm aforesa~d in eacess thrreof, shall :ontain the uiual s~andard mort9agre clause o~ such o~hei clause as Ihe Mo~tgagee May req.,.re, mahing ~he ~oss ~ndrr sa~d po c~~s, each and eve.y, parab'e ~o sa~d ~~~JRiGAGEE as m intareSl may appear, and each and e~•ery such po ~cy shall be piomptiy asi g~~rd and dalw~rrd ~ ani held by said A10R[GAGEE as f~nher securfty ro sa~d neor~gage debt, and, not less than ten (10) days in ad+ance of ihe expirat~on oi each pol~cy, ~o d, I,.e~ to sa~d MORiGaGEE a renewal thereof, ~ogethe~ with a rece~pt for the premium o) such renewal; a~~d ~here sha(t be no f~re o~ w~~~dsro~rn ir:wr.~nt pl3ced on any oi sa~d b~ildings, any interesl there~n or part thereof, un~ess in the fonn and w~~h ~he ~oss payab!e as aforesaid; and in the event any sun 01 money becomes payable unda~ s~ch policy o~ poLcies sa~d MORTGAGEE shall have the opt~on ro rece~ve aud app?y the same on accouro o( the ind~btrd r.rss sec~rn! hereby or to perm~f sa~d MORIGAGORS to receive and use it or any parf tha:eof for or~~:•r ~:u,, osrs, v~:~~~c,~t ih_r,u, w„~.~,3 or ~~~.;~:.~r ~ny any eq~~ty, lieo o~ ~~ght undrr or by virtua of this mor'gage; aod in the eveM sa',d 1110BTGAGORS shj!1 for any reason fail fo kcrp the aaid p~emises so ~ ~nwred, or fail ro dellver pro~nptly any oi sa~d poi.t~es of insurante to said MORTGAGEE, or fai! promptly to pay fuity any prr'«~+~~n thcrefor or in any ~ resped faif to perform, d~scha~ge, ezewra, efFect, comptete. co.mply wi~h and abide by this covenanl, or any par~ hrreof, sa~d MQRTGAGEE may piace a~o ~ pay for suth insurence ot any pan Ihereoi w~thout waiving w a(fecting any option, lien, equity, or righf unde~ w by virtue of th~s Mortgage, and the ; t~!I a~nouM oi each and every s~ch paymem sha11 be immediately due and payabie and shaU 6ear interes~ from tha date thcrcof until pa~d at the raie o1 ~ •>>:~e pe~ cent~m per annu:n and to~ethir vvith su.h interest shall lx s~cured by the lien of this mottgage_ 1. To perm~?, commit w suffer no wasle, impairment ot deterioration of said property q any part the~eof. ~ S. To pay all and singula~ the costs, charges and expenses, ~ncluding a reasonablQ attaney's fee and costs oF abatracts of titte, incurred or pa~d at ~~y tim.e by sa~d MORTGAGEE, because or in tF.e event of the fa~ture on the part of ihe sa;d MORTGPGOR to duly, prompdy and fu~ly p,;rform, d~scharge. cute, elfect, co~tiple~e, tomply w~th and ab:de by eath and eve~y Ihe stipulanons, agreements, tonditions, and covenants of said promissory note and th~s ~~ar+gage any pr e~~her, and sa:d costs, charges and expenses, each and every, sfiall be immed~ately due and payabte; whethe~ a nof thare be nonce d= ~::~~~d, atrempt to coliect o~ suit pend~ng; and ~he fu11 amount of each and every such pa~ment shall bea~ i~rerest irom the date thereof uMil paid at the c< o~ n~ne per c~ntum per a:~uu:»; and a11 said costs, charqrs and expenses inc~rred or paid, ~ogaihe~ ~vah wch in~e~est, shall be secur¢d by the lien of this } mo~tgage. 6. That ~a) in the evenf of any breach of this Morrgage or defaull on ttr part of the MORTGAGOR, or (b) in the event any of sa:d sums of money f erein referred to be not promp+Iy and fully paid wi~hin th;r~y (30) days next after 1he same severa!Iy become due and payabk, without demand or notice, er (c) i~ thr event each and every ?he stipuiations, agreements, condirions and covenants of sa.d promiuQry note and th~s mortgage any o~ either are not ~ j:~iy, promptly and i~1ty performed, d:scharged, e:ecuted, effected, tompleted, complied with and abided Sy, then in either or any such eve~1 the sa~d ag- ~regate sum mennoned in sa~d promisao~y note then remaining unpaid, with imeresl acaued, and atl moneys secured he~eby, shall betome due and pay t e5,e forth.v~rh, or ehereafler, ar the opr:an of said MORiGAGEE, as fully and tomple~ely as if a~l of ~he aa~d sums of money were w~ginatly s~~pu~ated ro be pa!d o~ such day, anything in sa.d pro:mssory oote or in th~s Mortgage to 1he tontrary notwithstand~ng; and thereupon o? thereafter at the option of ~ sa.d MORTGAGEE, w~rhout notice or demand, suit at taw o~ in equity, the~efore or thereafrer begun, may be prosecuted as if a!1 mw~eys secured hereby r._d matured pr~or to its inititutian. 7. That in the evenl that at the beginning of or at any time pending any suit upon th~s Mortgage, w to forectose it, or to reform it, or to enforce ~ayment of any daims hereunder, said MORTGAGEE sha(I apply ro fhe Court hav+ng ~ur~sd+dion thefeof for thz appa~mment of a Reteiver, such Go~rt shall fc~thwith appoint a receiver of said mortgaged property all and singular, inciud~ng ail and s~ngular the income, proflts, issues aRd revenues irom whatever so~~ce derived, each and evcry ~f wh,ch, it being expressly understood, is hereby mongaged as it speGficaify set fo~th and deuribed in the grammg and h,bendum dauses her~~f, and such Receiver shall have alt the broad a~d eff¢crive funcs,ons and po.vers in anyw~se entrus~ed by a Cou~t to a Receiver, and s~ch appointme~it sha~l be made by such Co~rt as an admi~ted equity and a matter of absol~te right to said MORTGAGEE, and without re{erence fo rhe ~ a:'_quacy o~ inadequacy of the vaf~e of the properry mortgaged or To the so~vaoty o~ insolvency o) said MORiGAGOR a the defendants, and ~hat suth ~ r~-,fs, profits, inco~ne, issues and revenues shall be appiied by such Receiver accord~ng to the lie~ or equity of said MORTGAGEE and the praUice of such ~ Court. B. To duly, prompr:y and fully perform, d~scha~ge, execute, e{fect, complete, cemply wlth and abide by each and every the stipulations, agreements, ~ :or,dir;ons and covenants in sa~d promissory note and th~s mortgage sat forth. 9_ That in the event the ownership of the mongaged premises, or any part thereof, becomes vested in s person other than fhe MORTGAGOR, the t .'ORTGAGEE, its successors and ass~gns, may, without no~ice to the MORTGAOR, deat with such zucceuor or successor in inferest with reference to this , ~ o•rgage and the deot he~eby secvred in the same manner as with Mortgagor without in any way vifiating or d~scharging the Mortgagors" liabiiity here- J~r or upon the debt hereby secured. No sale of the Fremises hereby mortgaged and no forbearance on the part of the MOR7GAGfE or its wccessors „r ass~g~s and no eatens~on o( the ti;ne for the payment of the debt hereby secured given by the MORTGAGEE or its successws w au~gns, a~ial: operate ro re~ease, d~scharge, medify change or aifect the orig~nal liab~lity of the MORTGAGOR here~n, either in whole o? in part. 10. It is speufically ag+eed that time is of the essence of tF.is contract and that no waiver of any obligat~on hereunder or of the obligation sr c~red hereby shatl at any time ~hereaher be held to be a waiver of the terms hereoi or of !he instrument secured herby. 1 L In ~d3 t;o~ co the forego"r~g monthty pa~mems of princ'pal and inrerest reyu~red by the prom:ssory no!e secured hereby, mortgagor covenants r d egrces to Fwy to n:orrgagee v~~th each momh!y p~y~~•en1 an add~tional sum esr.mated by morrgagee to be equal to 1, 12 of the annual cost of the foltow- A-Ait reat property taxas lev~ed or assesz_•d agai•,st the above describcd rea) estate. B- Pr~rr.~u~r.s on f~~e and windstonn insurac~e as herein requ:red to be carried on the improvemeits s~tuate on ihe above described premises. C-Premiu:^s on such mort~age guaranty insurar,te as mortgagee shai) from ume to time deem fit to carry on the loan secured hereby. Mortgagee sh;il from ~~:.,e to time not~fy mo.tgagor ~n writiog of the amoum due and payab!e hereundar and such surn shaf! thetevpon be due ar.d ~ ,..able on tha d~e date of thr ne~et moruh:y payment and each successive month thereafter ur.ti4 mertgagee shall notify mortgagor of a change in such ' o~~t. Such sums sHa:l be app!ied by mo~rgagee toward the payment of real property tazes, insurance prem;ums, a~id mortgage guaraniy insurarce .~~emiums. IN \YITNE55 ..'HEREOF, the sa~d MORTGAGOR has hereunto set his hand and seal the day and year first afw Signed. Sea~ ~+d ~eli r i presence f: ~ : : . . . _ ~ ~ Sean - T . t~: . She r ro (~ai~ _ ~ ~ '/~i = - _ _Ll1A_ (Sea4 ~ % Claudia Sherrod ~ - L~ ~Seaq ~ S~ATE OF fLORIDA ~ S ~ S5. COUNTY OF St • LUC 1 e Befwe me pe~sonatly appeared . Sherroc? end ^ CZaLiCilc'1 Sherrod his wife, to me well kr+own and known to me to be the individuats descri6ed in and who executed the fwegoing instrument, and acfcnowtedged before me that fhey executed the same fw the purpqses ~h~rein expre:sed. And the sa~d C2~3u~1~7 Sherrod f:~fe of the said Sherroci , upon separite and privats e.am~nat~on by me taken separate and apart from her said husband, atknowledged to and before me that ahe execut said instrume freely and votu~- i ra-~~y and w'~thout any compu~sion, constraint, appreren~~p~,.br fear of or fro~n txr said husband. • t. ~YITNESS my hand and official seal this R'J day of r r~ June ~ r -q, p. 19 72 1 ~ i• _ 1 " • ' ~ G~ rA'~ ~ QF F. L U~' U A , otary Public in a f the Stat~.d~ A~rida-at,.lar~e. U~ DOCUMENTAp" STAvlP TAX My Comm~ssion e~pir .•j~::~f~ n~- ~ ~ _ _ ~ - _ ? " ~~J y • ~ ~ _ .~t~ ~ 2 8 5 0 _ E J ~ s~i~ v aai.a eurt?v~ " = F~LE~ 'L~'a~ED . - ,1. ~ P.Qs~Nit S7. LUC~I_GJUMT`i PU. - . N RQ~~r "r~;TflAS t ~ ' . C~1t i C4UAT \ C!.'r F K C ~ ~ ' 7his Instrument Prepared By ,~ohn tti'. Col l in s P.~C•~•^'^"' C v First Federaf Savings 8~ loan Association ~~C 3 24 ~M ~'Z of Fort Pierce , Floric!a p Checked By ,a~.-____ 23212'~ ~aaK203 ~A~2005 ;s _ ~ - - ~ f~~~ - ~ ~ - _ .