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HomeMy WebLinkAbout0304 S i 3. To pface and continuous~y keep on the bui'dings now or herea(ter aituate on sa~d ~and and on a~~ e~u~pment and personally covered by th~s mor ege, with all premiums thareo~ pa~d in (ull, fire ins~rance in the usual standard polity form, in a s~m aHprowed by the MOR~GAGEE, and windsto ~nsurance in ~he usual standard pol:cy form, in a sum approved by the MORTGAGEE, Ia su<h tompany or tompames as the MORiGAGEE m d~rect; and ell iire and windstorm iasu~ante po~it~es or? any of said build~ngs, any inferest therein or pa~t thereol, in the aggrega~e sum aforesa~d in excess Ihereof, shall :on~ain the usual star.uard mortgagee dause or such o~her clause as the Mortgayee may req~,re, making the tois ~nder sa~d po c~es, each and every, payab!e to sa~d A~ORTGAGEE as its in~errst may appear, 6nd each and every wch po~icy shal~ be promptly ass gnrd a~~d de:ivered l any hetd by sa~d MORiGAGEE as fvnhar xwrlty ro sa~d morrgage debt, and, nof kss than ten (101 daws in ad+ar~ce of the expiretion ot each pol~cy, to d. !~ver lo said N10RTGAGEE a renewal the~eo(, toge~her with a rece~pt for the premium of such renewal; and ihere shall be no fue or w~nds~o~m insuranc placed c+n any of said builu,ngs, any interes~ there~n w par? thereof, unless in the (orm and wiih the toss payab~e aa a(o~esaid; and in ~he event any sun of money t~comes payable undrr s~ch pol~cy or pol~cies said MORTGAGEE shall have the op~~on to rec~~~ve ~nd app~y the san~e on account oF the indebted nrss sec~red hereby or to perrni~ said MORTGAGORS to receive and use it w any part tlie:eof lor ooi,~.r pur;:os~~s, .::~ho~t thr~u; ~vc~+~~3 ~~~t~~~~ ing any equ~ty, lien or right undrr or by virtue of this mor'gage; and in 1he eve~~ sa~d MORTGAGORS shall for any reason fail to kcep the sa~d premises so ~nsured, or fail to deliver promptly any of said pol~cies of insurance to said MORTGAGfE, or iai! promptly to pay fully any pre~~~~~m therefor or in a~y resped fail to perform, dncharge, exec~re, effect, complNr, comply with and abide by th~s cove~an~, w any part hereof, said MGR7vs1GEE may p~ace and pay fo~ such insurance or any part thereof w~thout waiving w affecting any option, lien, equ~ty, or ri~ht under or bt virtue of this Mo~tgage, and tht ~ full amovnt of eath and every such paymaN shall be immediately due and payable and shall bear interest from the date thercof unlil pa~d at the.rate ol r n~ne per centum pe? annum and to~e~hcr wi:h wch interest shali be sctured by the lien of this mortgage. ~ d. To permit, tommit or suf(er no waste, impairment or deterioration of said property or any part thereof. ~ 5_ To pay all and singular ehe cos~s, charges and expe~ses, including a re•3sonable attorney's fee and costs of abstrads of titte, incurred or patd at ~ a~~y time by said MORTGAGfE, because or in the erent of the failure on the part of the said MORTGAGOR to duly, pranptly and fully perforn, d~scharge. } : xecute, effett, canpiete, co•npty w~th and ab:de by each and every the st~pulatio~s, agreements, cenditions, and covenants of said p~om~ssory note and th~i y n,ortgage any w e~+her, and sa:d costs, charges and expenses, each and every, shall br immediately due and payable; wherher w r+ot there be notice ds • mand, atrempt to collect or suit pend~ng; and ~he ful! a:nount of each and every such payment shall bear in~eres~ (rom ~he date thereof until paid at the } r,~fe oi nine per cantum par an~~um; and al{ said costs, cnarges and ex,~enses ~ncurred or paid, tog~ther w~th such interest, shall be secured by the lien of this - 1 mortgage. . ' 6. That (a) in the event of any breach of this Mortgage or defaulf on tM~part of the MORiGAGOR, or (b) in the event any of sa:d sums of money ; t,erein referred to be not promptly and fulty paid within tFurty (30) days next aftcr the same severafly be<ome due and payable, without demand or ~otice, or (c) in the event each and every the st~pulafions, agreemems, condieions and covenants of sa:d prom~ssory noie and th~s mortgage any or e~ther are not ~~ly, promptly and iully performed, d~s:hargcd, executed, effetted, tompteted~ complied with and abided '~y, then in either or any such event the sa~d ag g:egate sum mentioned in said promissory ~ote then remaining unpaid, with interest accrued, and atl moneys secured hereby, st~a~l betome due and pay- ab~e forthwith, or thereaitei, at the opuon of said MORiGAGEE, as fuL'y and comptetely as if all of the said sums of money were w~ginatly supulated to be paid on wch day, anything in sa.d prom~ssory note a i~ this Mortgage to the cororary notwiihstanduig; and thereupon or thereafter at the opt~on of sa:d MORTGAGEE, without not~ce or demand, suit at law or in equity, therefore w thereafter begun, may be prosecuted as if all moneys secured hereby s n_d matured pnor to its institution. ~ 7. That in the event ~hat at the beginning of or at any time Fending any suit upon this Mortgage, or to foreclose it, or to reform it, or to enforce pr.yment of aay daims hereunder, sa~d 1.10RTGAGEE ahail apply to the Court having jur~sdkuon thereof for the appoimment of a Receiver, such Court shali f;;rthwith appoi~t a rece~ver of said mortgaged p~ope~ty all and sing~lar, i~clud~ng all and singuiar the income, p~of~ts, issues and ~evenues from whatever s~urce derived, each and every of wh~ch, it being expressly undersfood. is hereby mortgaged as if spec~ficaily set fortk and described in the grameng and t,~~.endum clauses hereof, and svch Receiver shall have all the broad and effeaive funct~or~s and powe~s in anyw~se entrusted by a Court to a Receiver, and s_:h appointment shali be made by such Court as an ad:nitted equity arxl a matter of absolute right to said MORTGAGEE, ar+d without reference to the ad_quacy or inadequacy of the value of the properry mortgaged or to the saivency or insolvency of said NtORTGAGOR o~ the defendants, and that such r:~~,~s, profits, inco•ne, issues and revenues shall be appiied by such Receiver according to the tien or equity of said MORiGAGEE and the practice of such Court. 8. To duty, promptly and fu1ly perform, d~scharge, execufe, effecr, complete, comply w~th and abide by each and every the stipuiations, agreements, conditaru and cavenants fn sa~d promissory no!e and this mortgage set forth. 9. That in the event the ownership of the mortgaged premises, or any part ihereof, becomes vested in a perwn ether than the MORTGAGOR, the :'.ORTGAGEE, its successors and assigns, may, wi!hout notice to the MORTGAOR, deal with such successor w successw in interesl ~vith reference to this ~•ortgage and the debf hereby secured in the same manner as with PAortgagor without in any way vit:ating o~ d~scharging the Mortgagors' liability here- ~~drr or upon the debt hereby sec~red. No saie of the premises hereby mortgaged and no forbearance on the part of tF~e MORTGAGEE or its successors or assigns and no eztensior oi the nmr for the payment of the debt hereby secured given by the MORTGAGEE or its wccessors or ass~gns, ahall operate ro re!ease, d~scharge, modify change or affect thr orig~nal lianility ot the MORTGAGOR herein, either in whole or in part. 10_ It is specifically agreed that time is of the essence of this contract and that rto waiver of any ob~~gat~on hereunder or of the obligation se- cured hereby shali at any time ~ncreafter be hc!d to be a waiver of !he terms hereof or of the instrument secured herby_ )1. Jn add~tio~ to the forego'ng month'y paym~nts of princ"pa! and intzrest requiced by the promisscry no!e sewred hereb~r, mortga^yot covenants ~~,d agr~es to pay to mo-tgagee with each mo~thiy pay~.ceet an add~rional sum estimated by mortgagee to be eg~al to 1; 12 of 1Se annual cost of the follow- ~.,3: ' . A-All reat property taaes le~.~ed or assessed agai~st the above described real esfate. 6-Pre~n~ums on fire and windsto:~n ~nsurar.ce as here~n requ:red to be carried on the improveme~ts sitvate on the above d:scribed premises. j C-Premiun~s on such mortg3ge guaranty ir.surance as mortyagee sha(I f~em t~me to time deem fit to tarry on the loan secured hereby. ~ I Mortgagee sha~t from t~me to t~me notify mortgagor ~n writing of the amount d~e and payable hereundrr and such sum sha11 thereupon be due and s f :-~yable on the due da!e of rhe n~:~t month!y paymeN and each successive momh thereafter ur.tii mortgagee sha!1 notify mortgagor of a change in such ~ ~-ount. Such sums sl•a:l be app:ied 6y mortgagee toward the payment of real property taxes, inwrance prem:ums, a~~d mortgage guaramy insurance i ~-r~:niumi. ~ IN V~ITNESS WH~REOF, the sa;d MORTGAGOR has hereunto set his hand and seal the day and year " t af aid. ~ ~ig , Sealed and deii red in the p~esence of: ' i ~1' [ Cl p ~ 11Jr Seal) ~ G. B. Walters ~,q ~ .L%«.C (Seaq Alliece Walters ~~aq STATE OF FLORIDA 1 COUNTY OF $t . L11Cle j ~ Before me perwnally appeared G. B_ wa 7~ e r s end Alliece Walters h~s wife, to me well known and known to me to be rh: individuals desu~bed in and who executed the foregoing instrument, and acknowledged before me that they executed the same fw the purposes i . rh:rein expressed_ And the said Alliece I11a1te15 _ ` ~ r:~fe of the said G• B• Walters - upOn.a,sepsrate and privste etaminat~on by me taken separate and apart from her said husband, acknowledged to and before me that she execpTed said.iniMaxpeM freely and vol~o- ~a-ily and w~thout any compulsion, constramt, apprehens;on, w fear of or from her said husband. _ ~ WITNESS my hand and offiual :eal this_ 7th day of `Jul 1 ' ~.,/k. D. 19 72 1 j•- ~ , . F ~ Notary Public in and for th! State Florida ar ~a+ge My Commission expires: • • - : Return To: IIO~~RI( PUBLIC, Sv1T~~ iLORIDA et LAR6E = F~rst Federal Savings 8 loan Association MY GO'~M.4HSSlOM~ fX~l~{ES SEPT. 25. 1975 ~i Of Fort P.erce BpfIQEd By ~~+Call 83nklfS IIISUf2I1C8 Fort P~a~ce, f1or~Ja i fILEO ANO RECORDEp ~ ' ' This Instrument Pre ared B Gar F. Ellwood sT~~~~~~OUNtr Fi~- ~ ; P Y Y ROCER POttRAS ~ First Federal Savings 8~ Loan Association CLERR CI~~U~T COURT ' of Fort Pierce ~ Florida RECOR~ VE~~F~EO Checked By - 1 ~ ~7 Si ~ ~ ~ 2330~1 ~ U R BOOK PAGf r~., ~ - - ~ ~ _.V_. ~ ._~~....1 ~ .