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HomeMy WebLinkAbout0667 3. To place and continuously 4eep on the bu~'o~ngs now o~ hereaiter ~iwate on sa~d land and on al{ cquip~nen~ and personally covered by lhis mo~ aga, with all premiumi ~hereon pa~d ~n lull, fire inwronce in the usuat standard policy form, in a sum appro.ed by ~he MORiGAGEE, and w~ndsto ~nsu~ance in ihe usual a~m~dard pofcy fonn, in a svm approved by ths MORTGAGEE, i~ such compa~y o~ compan~es as the h10RTGAGEE d+rech and all fire and w~ndstorm insulance po~~uet on any o( sa~d build~ngi, any interest Ihtrein ~r pait thr~eol, in the aggregaTe sum aloresaid in excess thereol, shaU contain the usual s~andar~ mor~gagae clause or such o~her dause as the Mortyagee may requ~re, ma?ing the io~s unde~ sa~d po c;es, each and every, payab!e to said ~HORTGAGEE a~ ~ts in~crest may appear, and each and every such poticy shalt be promptty ais gned a~~d de~~vz~ed ~ any held by said MOR(GAGcE as (ur~hrr sewiity to sa~d mor~gage debt, and, oot Iess Ihan ten (l0) days in adYance oi the expiratlon of each pol~cy, to d. I~ver to said MORiGAGfE a renewal thereof, toge~her with a receipt fw l~e premi~m of such renewal; and thrre shall be no 6ie o~ windsrorm insvrant placed on any of said b~ild~ngs, any interest there~n or parl thereof, unless in the form and with the loss payable as aforesaid; and in ti,e event any sun of money becomes payabte undcr such policy or poGc;es said MORTGAGEE shall have the opt~on to reca~ve and apply ~he same on account oi the indebted ness secured hereby o~ to pe~mit said MORTGAGORS to receive and use it p any pa~t the:eof ior o:i~~•~ pur~•os~s, v.:~ho~~ th:r~ur ~9 11°P~~~ ~ng any equlty, lien or r~yht under w by vi~tue of this mo:tgage; and in the event sa:d MORTGAGORS shall fw any ~eason fail to keep ~he said prem~~zs so ;~su.ed, a fail to deliver pranp~ly any of sa~d pol~cies of insurance to u~d MORiGAGEE, o~ f~~l p:ompNy to pay fulty any pren~iu~n therefor or in any respect lail to perfwm, d]scharge, ezecute, effecl, comptete, comply wi~h and abide by ~his covenaN, or any part hrreof, said MORTGAGEE may piace and pay for such insurance oe any part thereof without waiving or affecting any option, lien, equ~ty, or right under w by virtue oi this Mortgage, and the fult amount oi each and every such payment shall be im+nediately due and pnyaEle and shall bear interest from tho date thereof until pa~d at the rate o1 nlne per centum pe+ annum and to~ethcr with suth inte~es! shali be sacu~ed by the lien of this mortgage. 1. To permil, tommit w suffer no waste, impairment w deterioration of sa~d property or any part thereoF. S. io pay atl and singular the costs, chargea and expenxs, including a reasonable at~orney's fee and cos~s of abstracts of ti?le, incu~red a paid at any ti~r.e by said MORTGAG:E, because w in the event of the tailure on the part of the said MORTGAGOR to duly, pron,ptly and fuily perform, d~scharge. erec~te, e(fea, comp:e~e, comply w~th and ab.dr by each and every the stipulat~o~s, agreements, cond~tions, and covenants of sa~d prom~ssory note and this morrgage any or e~~he?, and said costs, charges and expenses, each and every, shal) be immediately due and payable; whether p not there be notice dr n,and, afrempt to coliec~ or suit pend~ng; and the full amount of each and every such paymem shall bea. inrerest irom the date thereof until paid at the rore oi ~~ne per cens~m pcr annu~r, an~+ all said costs, cFarges and expenses incurred or pa~d, together w~th sucfi interesl, shall be secured by the lien of thi~ mwtgage. 6. That (a) in 1he event of any Ixeach oi th~s Mortgage o? defautt on the pa?t of the MORTGAGOR, w~b) in the event any of sa;d sums of money herein referred to be not promptly aod fully paid w~thin th~rty (30) days next after the same seve~a!ly become due and payabk, without demand Qr notice, ~ or (c) in thr evem each and every the stiputahons, agreemeNS, condi?ions and covenants of sa:d promisso~y note and th:s mortgage any or either are no1 ~uly, p~omptly and fully performed, d~scharged, ezecuted, eifected, completed, complied with and abioed `iy, Ihen in ei+her or any such event the said ag 1 ~regate sum mentioned in said promessory note then remaining unpaid, with interest accrued, and all moneys setured hereby, shall become due and pay- ab~e forthwith, or tfiereafter, at Ihe option of said h10RTGAGEE, as fully ard comptetely as if aIl of the said s~ms of money were w~ginally st~putated to be ~1d on such d~y, anyshing in sa:d pro:nissory note or in this Mwtgage to the conrrary notwithstand~~x~; and there~pon or thereafter at the ophon of said MORTCaAGEE, withcut notice or demand, su~t at law or in eqvity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby h~d matured pr~w ?o ds institution_ 7. That in the event that at the beginning of or at any time pending any suit upon this Mortgage, or to faeclose it, or to reform it, or to enforce payment of any tiaims hereunder, said MORTGAGEE shall apply to the Court having jurisd.ction thereof for the appomtment of a Receiver, such Gourt shatl ; Forthwith appoint a receiver o( said mortgaged property alt and singular, inctud~ng aIl and singular the income, prof~ts, issues and reven~es from whalever source derived, each and every of wh~cA, it be~ng expressty understood, ~s hereby mortgaged as if specifically set fath and desuibed in the granting and habendum clauses hereof, and such Receiver shall have all the broad and effective funct~ons and powers in anywise entrusted by a Court to a Receiver, and ! s_ch appoi~tment shall be made by such Court as an admitted equity and -e matter of absofute righ~ to said MORiGAGEE, and without reference ro the j a~'equacy w inadeq~acy of the va:ue of the property mwtgaged or to the sotvency or insoivency ot sa~d MORTGAGOR or the defendants„ and that such } re~fs, pro(its, incane, issues and revenues shafl be appl~ed by such Rece~ver accord~ng to the tien w eq~ity of said MORTGAGEE and the practice of such I Court. ~ 8. To duly, promptly and fully nerform, d~scharge, execute, effecf, complete, comply w~th and abide by each and every the stipulations, agreements, conditions and covenants in sa~d promisswy note and this mortgage set fwth. 9. That in the event the ownership of the mortgaged premises, or any parf thereof, becomes vested in a person other than the MORTGAGOR, the h'.ORTGAGEE, its success~s ar.d assigns, may, without norice to the MORTGApR, deal w~th such successw or successw in interest with reference to this rrortgage and the d^bt hereby secured in the same ma~ner as with l~lortgagor wi~hout in any way vitiating or d~scharging the Mwtgagors' liability here- ~ndel or upon the debt hereby secured. No sa[e of the prem~sas hereby mortgaged ar.d no forbearance on the part of the /dORiGAGEE or its successors or ass~gns and no exrension of the t±me fw the payment of the debt kereby secured given by the MORTGAGEE or its successws ar au~gns, a~~all operate ~o release, d~scharge, modify change or afFetl the original liab;iity of the MORTGAGOR here~n, either in whole or in part_ 10. It is speufically agreed that time is of the easence of this contract and that no waive? of any obligation hereunder or of the obligation se- cured hereby shalt at any time thereafter be held to be a waiver of the terms hereof or of the instrument secured herby. 11. In aJd:~ion to the forego'~~9 monthly paym~nfs of princ'pal and interest requ~red by the prom:sscry no!e secured hereb~, mor~gagor covenants er,d agrces to aay to mo:tgagee w~!h each monthiy pay~.iem an add~rional sum esnneated by mo~tgagee to be equal to 1; 12 oi the annual tost of the follow- ing: A-Aft real p~operty taxrs fev~ad or assessed agai~st the above described real esrate. - B-Prem~u~ns on iire and winds:onn insvrarce as here~n requ:red to be carr;zd on the improveme~ts setuate on the above d~scriGed premises. C-Prern~un•s on such mortgage guaranty ir.surar~ce as mortgagee shall from t me to ti~ne deem fit to carry on the loan secured hereby. Mwtgagee sha?I from ~i~ne to t~me notiiy mortgagor in writ~ng of the amount d~c and payable hereundrr and such s~:n shall fhereupon be due and : ayable on the due date of th> nrxt manth:y payment and each successive month thereafier untit mortgagee shatl not~fy mortgagor of a change in such a~:ouot. Such sums shail be appiied by mortgagee toward the payment of real property taxes, insurance prem;ums, and mortgage guaranty insurance j n•emiums. t R IN YJITPJESS :YH~REOf, the said ORTGAGOit has hereunto set his hand and seal the day and year 'rs1 aforesaid. ~ 5~ ned, and eliv in t presence of: _ ~~1 s~ (Seaq erald F. arnell cs~an _ a (Seaq - A1 B. Farne ~sea~ ; ! SiATE OF F RIDA ; S5. ? cour,rY oF cie ~ ~ ~ Be(we r?ce personally appeared Gerald F. Farnell a~J f _ ~~S B. Farne his wife, to me well known and known to me to be j the individuats drscribed in and who executed the fwegoing instrumeMf~~~p qac~ I ed e me that they executed the same. for the purposes. f the~ein expressed. And the said ~r~~~ ` ' ` ~ Gerald F. Farnell ~T ~ wife of the said - upcpf a sE~srate a~~ivatr e,am~nat~on by me taicen separale and apart from her said husba~d, atknowledged to and before me that she exetuted sa' instrumc~ht ftdly ~'vdl~n~ ra•iiy and w~~hout any compulsion, constraint, apprehension} pr fear of or frwn her said husband. - ` WITNESS my hand and official sea~ this F~ day of . A. p: 19 .?2 - ~ ; N tary Public in and r t Sfate of. F ida at LacBe M Commission expires: ~1. ^ . ~ K ~ ~ Retorn To: ~ ~ first Federal Savings 3 loan Association ` ~ Of Fort P.ercz. ~ ~ Fort Pierce. Florida ~ ~Np fiECOR0E0 ~ ij`~pCER 4u~tY fU• ~ P01jtlA ~Ilt ~j~ This Instrume~t Prepared By J. H. Robe2'ts~ Jr. C~E~R~R,FIEO~ V ~ First Federal Savings & Loan Association ~ECOROYf ~ ~ of Fort Pierce ~ Florida 13 3 so PN iZ . ~ ~ Checked By 2332'73 ~ BOaK PAGf ~ ~ Yz~-ar ~,,y,-':~~, ~z.~. ~1,.~ : a"'~',rrM~ , ? ~ ° .