HomeMy WebLinkAbout2680 3. To place a~,d co~,nn~ously i~<ep on the ~u~ d~ngs now or hrreafter a~t~nte on sa~d tand and on a!; rqJ~p~nent and penona:ly covrred by thls mo~
age, w;th a!! pren,~v~~:s thrreon +.~d ~n fuil, f;ra ~ns.,ra:uz ~n ~hc uw~t s~,~n;iard po'~~y form, in a s~~n e;_pro+ed b~ thc I.tiJR~.,:.G;[, a~~d w~~~dstu
~nsurancr in ~ha uwa{ sr~~~dard po: cy fo~m, in a su:n aFproved by the MORTGAGiE, ~n such co•,~pany or co~npan;es as the F.:JBiGAGfE
d~reU; and aU (ue and w.r.darorm ir~surance po~~c~rs on any oi s~~d bui;d~ngs, any imeres~ ilier~m or ~a.t thc,eof, in ~he aggi_ga~e w~n afo~rsa~d
in excess th~~rcof, sh~ll ;ont,un ~he us~a1 ,t~~~dard mo:rJ.,gre ciause or such other c!ause as the ldortyagre may req~:re, maA~ny tnr :ois ~ndr~ s.,~d po ,
c~es, each and e~ery, pa,::b'e ~o sa~d .\1JRI~,AGEE as ~ts ~n~e~~•st may appear, and each and every wch p~ ~cy ~ha:l br prom~,~iy ass y~~~d ond de~~Y~•r~d :
any he;J by se;d 1.10RIv.AGEE as fwther s~c~rity to sa;d n.ongage dabt, d~~d, not lpss lhan ten ~10) dayi u~ aJ.ancc of th~ eYp~~.,t~on of cach po:~ty, to d.
l,ver to s~~d h1pRiG1GEE a re~~~v:si ~h~-r~of, to~e~hrr w~th a rrc<~pt for the pre~n~~m ot wch rener:a!; a~,d ~i~ere st~ail t~z rio f,re o. w~~~:isro•~n insu~anc
p'aced on any of sa;d b~~:d~•~gs, a-~y ;ntcrru thcr..-:n or part fhereof, 4nicu ~he fonn a~:d w~th ~4~e ~GSS ~~d~o~i:~ a: afo•es;~d; and in the e~rM any sun
ot mo~ey bE•co:nes poyab:e .~ndrr s~ch pol~cy cr poL•c~es s~~J MORIGAGEE s?ull have +he op~.on ro r_-c_~:~ ::~~d ap~'.y u,a ea~~~e on accou..~ of ihr indan~.~d
resn sec~rrd hereby o~ ro pcr~n~t a3 d r110R~GAGORS to rec~•ive and use it or any p~rt f11•"c~Jf ~~.r e:+~~ ~~.~r, ~s•>, ~_t ~fi „r
;n~ any equ~ty, I;en or r~~ht ~ndcr or by wrt~e of tiua mcr7gage; and in the event sa d h1pRTGAGORS sha!1 `.or eny r~ason iail to k~ep the sa~d premis~~s so
:nsvrcd, or feil lo d.I~ver pro~nNtly a~y oi s.~id pol.t~,s oi insuiance to said MORiGAGEE, or fa:! ~~;om~>ry !o ~ ay fu.~y any prr:~~~~ n th~•.~1or or in a~y
respecf fdil t0 pe~~urm, d+s:h,.r~c', ex<~;~re, effect, co+npirt2, cornply with and dbide hy thii covcn~nt, o~ any p.+~t h,:rrof, 5.~+~d r,~vRtG}.GEE inay p~aCe a~•C
pa,r for iuch insw..nce or ony part th~~r~of w~thout waivinq or affeding any op~+on, lien, eq~rty, or n~h~ und~~r or b~ viriue o~ ih;s Alongage, and tFc
f~il a~„o~nt of each and e.ery svch paymant ahall be unmediately due and pa~able and sha!f bear inrer~•st frc~n iha dste th~r~of until p.:~d at the rate o1
~~.nc per centum per ann~,n wid to~_•Sn,•r ~,.,~~h such inrar~st shaii be sat~red by the lien Of th~s mortgagc.
4. To permit, commit or wffer no waste, impairment w deterioration of said properfy or a~y part therzof.
5. To pay all and singu~a~ the costs, charges and expenses, ~nduding a reasonab!e attomeY's fee and ccsrs of absrrads of titte, incurred or pa~d at
~~y tt~~e by sa~d MOR~GAG:E, because or in rhe rvent of rhe fa,~ure on ehe pan of ~he said ..50RTGAGOR to du:y, prc~~+pNy and 4uJy pa~form, d~uharge
_.~cura, rffect, campEe~e, comply w,th a~~d abde by each and every the st~pu~atons, agrecments, cor.d~nons, and covenants of sa:d pro~~,;;~ory note and th~s
, ~rrgage eny or c~~hcr, and sa d cos~s, charges and eapens~s, each and every. shalt be immed~ately due and payab:r; v~hrther or not rh~•:e be nor,~e da
~:.~~.d, atta~:,~t to col~sct o~ suit pe+~d~ng; and rhe full amount of each and every s~ch paymeN shall bea. i~vt•res~ from the date thereo4 unril pa~d a1 the
. c' n~ne ue~ ce~v~n, F.~•r ~n„u:n; ~n~ aia aa~d costs, ti:arges and ~xprr.ses irx~~red or poid, toyethar w~th such interrst, Shall be secured by the ben Of th~s
:nortgage.
6. That (a) in the rvent of any b~rach of this 14!o~tgage or default on tFw part of ihe MORiGAGOR, or ;b) in the event any oi sa:d sums of money
hrrcin referr~d ro be ~~of p.o~~~prly ar,d fu;ly paid w~tt:~n th,rty (301 days nexr a~~_•r the same screro::y become d..e and payab!e, withoui den,and or nonce.
or ~c) in thr event rach a~d eve~y fhe stip~!at~ons, agrecments, cond~reons and covenants ol sa.d proiniuory nota ar.J th~s mortgage any pr euher are no1
i.,ly, pro:npNy and f~liy performrd, d:scharg._d. exewted, effected, compteted, compneci w~~h and ab~ded ~y, then in e~ther or any such event the sa~d ag
~~egate sum ment:onEd in sa~d pron:issory ncte then remahiing unpaid, with interest accrued, and a~i moneys secwed hereby, sha11 become due and pay
~~:e fo,:hwirh, or tharea!Ter, at the opr;on of s~~a htORTGAGEE, as fully and complete~y as if a~l oF ~he sa~d s~ms of mortey were or~ginady st~p,,:ated
r~ be pa.d ort such dcy, anyihing ;n sa.d promascry note or in this Mortgage to the cororary noi.v~thst3nd:ng; and thcyeupon or the~eafter a~ ~he op~~on of
s~ d MORTGAGEf, w~r~,o~t nonce or drmar.d, svit at law or in eqwty, therefore w lhereafrer begvn, may be prosecuted as if all moneys secured hereby
r~:d matu~ed pr,w to ~ts inst~:~t~on.
7. That in the ev~-nt tFat at the beginn~ng of or at any ti~ne pending any s~~t upon this Mo~tgage, or to foreclose it, or to reform it, or to enforce
~ayment of any ci.nms hrreundar, said 1t10RTGAGEf sha~l apply to the Court havrrtq ~u~nd.c~.on fhe~eo! for the appo,mment of a Rxeiver, Such Court shail
r-~ ~rhwith appc~nt a r~~e~vr~ of seid r~iurtgay K! praperty ali and sing~lar, inclvd.ng a{I and s~ng~',ar the ir.co~ne, profns, iswes and revznues from whetever
s,•ce drr~ved, e~ch and every of wh:ch, n be~ng ~xpress,y undrrs~ood, is hereby mertgaged as ~S spec,i~catty set forth and deuribrd in the granting and
!.,~,en~}Um c:avses her~•of, ,~r,d such Rece~ver sha'.t fiave all the broad and effective functons and po.t•ers ~n anyw~se entr~sted by a Co~~t ro a Receiver, and
s. ch appoin!me~it sh3i~ br n:ade by wch Court as an adnitted equity and a mauer of absonte nghi to sald MORiGAGEE, and w~~hout refer~nc~ to the
z~:_y~~r~ or inadequa[y of thr vai~e of t1,e prope:ty martqaged or to the so.vency o~ ~r~savency of sa~d MOR+GAGOR or the defe+~danis, and that suth
+s, prot~ts, inco.ne, issurs and rerenues shall be applied by such Receive~ accord~ng to the lien or equity of said MORTGAGEE and the pratt~ce of such
CourL
8. To d~'y, prompr:y and fu:•y perfo~m, d~scharge, execute, effect, compiete, comp~y w~th and abide by each and every the stipu;ations, agr~~nents,
:o•:dnions and cavenanrs ~n s~•d prom~sso*y note a.^.d thls mortgaga set forth.
9. That ]n ~h.e event fhe own~.sh;p ef the mortgaged premises, or any part thereof, becomes vested in a pe.son other than the 610RTGAGOR, the
~RTGAG:E, its s:,ccess~rs ar.d ai<_:~ns, may, ~ti~-ho~t nof~ce to thQ YQRTG~OR, deat w~th such successor or wcceszor in ;nterest wirh relerence to this
x~gaye a~-d the d_ot hereby secured u~ the same manner as ~n~~+h r.lo~tgago~ without in any ~vay vit:ating or d~stharging the McrtgagOri lidbility here-
1•_r or upon the debt he~eo~ s~cu~ed. tJO sa:e of the Fren:~ses hcreby mortgaged and no forbearance on the part of tfie /110R7GAGEE or its successors
c• asvgns and no e~rer~s~on of rhe r~:ne for rhe payment oi the debt he.eby secur~ g~ven by the lAORTGAGEE or ~ts wccessors or asslgns, ~~~all operate
ro re~eose, d~zcharge, mc,d~fy charqe or a'.iect ;he orig;nal iieu~:ay of the MORiGAGOR herein, either in whole or in part.
10. It is spec~f~casiy aoreed thar t~mz is of th@ essence of this contrad artd that no waiver of any ob!~gar;on hereunder or of the obligation se-
c:.~~~d hereby shal; at an1 time rht•redher be hc~d to be a weiver of the terms he~eof or of the inst~~ment secwed herby.
I1. tn a:;,3 ro rh: io.eze nz •>,ent~,~y paym~ms of p,inc p~! and inraresr req~;red by rhe prom sscry ~o'e secured hercbt, mertgagor eovena~ts
eg~ces ro ~ay ro r.:orty.+yce ..,~i, ~~ach ::;cnrh y pa~~.~ent an adJ.~~onal s~m estn ated by mortgsgee to be eyual to 1 12 oi t:ie annvai cost of the foiiow-
A-AI( rcal p:ropc~t; tax:s len~_4 e• assasz_d ag~i~ut th~ above desvibcd rea! esrate.
E F._ , rs on f:.~~ acd ,r,:cdsTO~~n ~nsvi3r~t as i~erein req~ned to be carried en the im;;roveme~ts s~tuate on the above d~scr~bed premises.
G-V~r n~~~r s o i;.;ch ~~ort~ +ge gva~anty ~rsvra~ ce as morrgagee shall frore s me to tlme deem fit to carry on the loan securrd hereby_
.lorrg,~g~~e s~~~ !'•cm n~:.; to t~~~~e nor~fy mGrtyac~o~ in ~arrit;ng of the amou~t ciue and payable hereundar and such su-n shall th~reup;on be due and
,-b!e on rh~• cl~e c,:s•~ ai rh: n~~t n:onth:~ p;y•~,znt and each success:ve :ronth thereafter ucti~ mortga3ee shall not~fy mo:tgagor of a change in s~ch
Such s~:~s s~a.i !:e apF.l_d ~y mortgay~:e toward the payment of reaf property taxes, insura~ce prer.::ums, and mortgage gua+aNy insurance
. c^-~~iums. \
!N l'r11P~E55 :':HcRtOF ~e said b RTGAGQR h~ hereu~to set his har,d and scal the day and year fi~st aforesaid.
Signed, Sealed and !ivered in t pr~sence of: ~
' ~ /
~ 1 ~Seal)
_ ~ 1~~;~
- (Seaq
(Seaq
'~.L 4~~_ - (Sea!)
~'aIE OF FLORIUA ~
St. LuCie ss-
~.?U'~TY Of ~
Before me persona!{y appeared I1oyd N. Sutterfield snd
i _ B3~8I'c1 A. SutterfYeld his w~{e, to me well known a~d known to me fo be
_ ind~vid~ais descr~bed in and who exewted the foregoing instrument, and acknowSedged before me that they executed the same for the ptrrposes
~he•ei~ eapressed. And the said. ~I`~Ta A. Slitterfi,eld
r.•<< of the :d~d _____~__~d N. Sutterfield _ upaZ-a saplrate and privst~
,•n r.ar,o~ by me taKan sepa~ate and apart frem her said husband, acknowledged to and before me that she ezecuted sa~d iMtrument fr~ely and volwt
'..y and w~thovt any co-~pu~sicn, tonstraint, appre¢~ ,Qr~ or fear of or from Fret said husband.
r \
WITNESS my hand and offic~af seal th~s_ al day of_ } J % ~y 72
, ~ .
~~!-L_ ~ ~ i J ! i~'~~.L
tary Pub?~c in a~d I r t1yE Siate of Flu~ida dt Lat+~e
y Comm~ssiwt expires: ~ --j [
Retvrn Tt: ~ _ I~
First Federal 5a+ings 6[oan Associat:on
pi iort P ce
Fort p;,~cc. Ftc.-~,.,
fIlEO ~ti: "~'vn0E0
ST.lUC1- "C:'~-,\?Y F~A ,
P~~.; : . , URt~~
1(
CL£•;R C.~~~- ~
This Instrument Prepared Sy .l. H. R.O~t:I'+~5~ Jilti~!'.:
First Federal ~av~ngs & loan Assaciation
of Fort Pierce , Florida ~N 3~ L~ ~3 rN Z
,l
Checked By j~3~5~~
~~flK203 ~~2680
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