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HomeMy WebLinkAbout0669 ' v 3. To place and con~inuo~sly keep on ihe bu~:dmgs now or hereafte~ eituata on so~d ~and and on all cq~ip~neN ard penonally covcred by this mor age, with all premiums Ihetton pa~d in lull, fi~e inS~~enGd in tYu uwal stai~a~d polity lorm, in a sum a{.prored by tha MOR~C~AGEE, and windsto ~ns~ronce in the usual s~anda~d po::cy lorm, in a wm approved by ~he MORiGAGEE, in such cor~~pany or co~npan~es as ~he M02~GAGEE m d~ret~; and all lire ar.d w~ndstorm inswance po~~cies on any of said bu~~d~ng3, any interesl ?herein or part thcveoi, in the aggirgate sum aforesa~d in eacess thereof, shaU ;onrain the usual atandard mortgagee dause w wch other ciause as the Mouyagee may requ~re, maling the Ioss ~nJrr s.~~d po crcs, eath and eve~y, pay~b!e ro said AlOR1GAGEE as ~ts ~~terrst may appea~, and each and every auch Fo.icy shaU be promptly ass gned and detive~ed ; any held by sa~d A10R?GAGEE as furiher seturity to said n:ortgage debt, and, no1 leu than ten (10) days in advance of the expirat~on of each pol~ty, to d. fver to said MORiGAGEE ~ renewsl thereof, toge~het with a receipl fo~ the premium of suth renewa~; and tl:ere s'~~II ba no i~re or windsto~m insuranc placed on any oi sa~d build~ng:, any intcrest there~~ or part thereof, unless in the fonn and wuh the :oss paya6le as aloresaid; and in the event ar~y sun of mooey becomes payable undrr wch pol~cy or poGcies said MORTGAGEE shall have the opt~o~ to rec~•~v~ and apply the san~e on account o( the indebtrd ness secured hareby or to pcrmit sa~J IAORTGAGORS to receive and uu it or any pa~t the;cof tor o:~~~_r pur~•~s~•s, ,v~tho~t th.•~ur ~~~~p~~~ . ing any equ~ty, lien or r~gh~ under or by virtue of this mo:`gage; and in ~he event sa:d MQRTGAGORS shall !or any reason iail to kerp the sa~d p~emis_s so insured, or fail to deliver promplly any of said policiet of i~surance fo said MORTGAGEE, ot fa~t p:omp~ly to pay fvily any p~e~»wm therefor or in a~y ~espect fail to pe~torm, discharge, eiec~te, effecl, complete, comply with and abide by this covena+it, or any part hareoi, said MORiGAGEE may p~ace a~d pay fo~ such insurance or any part the~eof withoul waiving w aifdcling any option, lien, equity, or right under or by v~~tue of ~h1s Mwtgagr, and the full amount of each and e.ery such paymrnt shall be immediately due and payable and shall bear interest from the date ~hereqf until paid at the rate oi n~ne per tent~~n pe? annum and to~eth~~r with such interest shal{ !x secured by the lien o( fhis mo~tgage. t. To permit, commit or suf(er no waste, impairment w deterioration of said property or any part thereof. S. To pay all a~d singufa. the costs, charges and ezpenses, including a reasonable at~orney's fee and costs of abstracts of title, incurred or pa~d at any time by said MORTGAGfE, because or in the event of fhe fa~lure on the part of the said MORiGAGOR to duty, pro~,ptly and fu~Iy per(orm, d~xharge. =x..~cute, effec~, complete, comply w~th and ab:de by each and every the stipulations, agree~~ents, conditions, and covenanfs of said p~o+nissory note and th~s :nortgage any or e~ther, and aa:d costs, charges a~d expenses, each and every, shall be immediately due and payab(e; whether w not there be not~ce dr mand, attempt to collett or suit pend~ng; end the tu~l amount of each and every such paymem shall bear ir!erest from the date thereof until paid al the •.:c~~ of nine per crnwm per annu:n; and ail said costs, charges and ex~rnses incurred or paid, together w~th such interest, shall be secured by the ~ien of th~s mortgage. 6. That (a) in the event of any breach of thts Mortgage or defaul~ on tM part of the MORTGAGOR, or (b) in the eve~t any of sa:d sums of money herein referred to be not proo~ptly and fully paid within thnty (30) days next after the same severa!!y become due and payab~e, without demand o? notice, or (c) in thr event each and every the stipulations, sgreements, co~dit~ons and covenants of sa:d promisso~y nota and th~s mortgage any or either are nol iuly, prompHy and fully performed, d~scharged, executed, effected, completed, complled w~~h and ab~ded Sy, ~hen in either w any such event the sa~d ag gregate sum mentioned in said promissory no:e then remairting unpaid, with interest accrued, and ail moneys srwred hereby, shail become due and pay- ao:_ forthwith, or therea:r~r, at the opuon of said MORTGAGEE, as iu~ly and completely as ii a~l oi the said sums Qi mortey were w~g~nally sttp~iated ~o be pa[d on such d~y, anything in sa d prom~ssory note w in this Mortgage to the contrary not.vithsranding; and thereupon w thereafter at the op~~on of sa;d MORTGA.GEE, w+iho~~t notice or de~nand, suit at law or in equity, therefore or thereafter begun, oiay be prosecuted as if all moneys secured hereby r,_d matuted {x~or to its insiitut~on. 7. That in the event that at the beginntng of or at any time pending any suit upon ?his Mortgage, or to foreclose it, or to refo~m it, or to enforce ~~ayment of any claims he~eunder, said ti50RTGAGEE shall apply to the Court having jur~sd[cr~on thereof for the appo~ntmem of a Receiver, such Court shall fcrthwith appo~nt a receiver of sa~d mortgaged property aU and singular, indudmg all and singutar the irtcome, prof.ts, issues and revenues from vrhatever s: ~rce drrived, each and every of wh~ch, it being expressly understood, is hereby morigaged as if spzc~ficaily set forth and desuibed io the granti~~g a~d i,:~~endum clavses hereof, and such Receiver shall have all the broad and efieceive funct•ons and poJVers in anywise entrusted by a Court to a Receiver, and s_ch appointment shall be made by such Court as an adrnitted equity and a matter of abso~ute right to said MORTGAGEE, and without reference to the a..equacy or inadequacy ot the value of the property mwtgaged or to the so;vency or ~nsolvency of said MORiGAGOR w the defendants, and that such re~rs, profits, inco.ne, issues and revenues shali be applied by such Receiver accord~ng to the lien or eqvity of said MORTGAGEE and the practice of such Court. 8. To duty, prompt;y and fully perform, discharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, conditions and cover.ants ~n sa~d promissory note and th~s mwtgage set fwth_ 9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than fhe MORTGAGOR, the :'ORTGAGEE, its successors and assigns, may, wi~hout notice to the A10RTGAOR, dea! with such successor or successor in interest wi~h reference to this n ortgage and the debt hereby secured in the same manner es with Mortgagor without in any way vitiating w d~xha~ging the lAortgagors' liabitity here- ~ ;,r,der or upon !he debt hereby secured. No saEe of the premises hrreby mortgaged ar.d no forbearance on the part of the MORTvAGEE or its successors er assigns and no eztension of the time for the payment of the debt hereby secured 9iven by the MORTGAGEE or its successws or au~gns, a~iall operate ~ ro refease, d~scharge, modify change or affect the orig~nal liab:l~ty of the MORTGAGOR herein, either in whole or in part. 10. It is speufically ag~eed that time is of the essence of this contract and that no waiver of any obfigation hereunder or of the obligation se- cvred hereby shali at any time thereafter be he!d to be a waivrr of the terms hereof or of the instrumeM secured herby_ 11. In a~dnio~ to rhe forego ng monrh!y paym~nts of princ pal and inrerest requ~red by the p~omssory no!e secured hereby, mortgagor covenants 3•~d agr~es to pay to n;o:tgagee vsith eath mor.th y pay~,:ent an add.~iona! sum esGn~ated by mortgagee to be equal to 1; 14 of the annual cost of the foliow- A-All real property taxes Icv~ed or asses~ed agai•~st ~hc aoove described real estate. B-Pren:iums on fire and windsto: m insurar.ce as here~n requ~red to be carried on the ~mprovements situate on the above dasuibed p?emises. C-Pre~niums on such mortg>ge g~aranty, ir.surance as mortgagee shall from rme to time deem fit to carry on the loan secured hereby. Mortgagee sha~l from t~me to time notlfy mortgagor in wrlt~ng of the amo~~t due and payable hereundar and such sum shall thereupon be due and , .,,able on tha due aate of th> next monthiy payment a~~d each successive month thereafter ~r.ril mcrtgagee shall notify mortgagor of a change in such _-~unt. Such wms s~a:i be app:izd by mortgag>e toward the payment of real property taxes, insura:~te prem:ums, and mo:tgage guaranty i~surance ; i,~•emiums. ~ } ~ IN Y~ITNE55 VYHERc"OF, tne said MORTGAGOR has hereunto set his hand and seal the day and r first afwesaid_ s ~ Signed, Sealed and detiv~red in e preaence of: `I; / i ~ J.LO~.LClL'~G ~ sq - ~ _ ~ F eliCk F. R f III ~~a~~ ~ - ,f ~ (Sesq ~ _ Sharon C. Ratliff ~s~ai? ~ STATE OF FLORIDA ~ ~ ~ ~ COUNTY OP SL. Lucie ( ~ - Before me pe~sonally appeared Frederick F. Ratliff. II I a~d Sharon C. Ratliff his wife, to me well known and known to me to be ~ rhe indrviduats ~escr;bed in ar.d who executed the foregoing instrument, and acknowiedged before me that they executed the same for the purpos~s ; rherein expressed. And the said Sharon C. Ratliff ~ r:~fe of the said Frederick F. Ratliff, III , upon a ~ep~ate~nd-private. ~ eaam~nat~on by me taien serarate and apart from her said hvsband, atknowledged to and before me that she executed said instrv . fteel~'and ~olu~r' !an~y and w~thout any compulsion, constra~nt, apprehens~ }~w fear of or from her said husband. ~ Y:ITNESS my hand and offiual seal this ~ 3~ day of JU~ ^~'9' ;'~2: ~ ~ - ~ _ ; - 7 ~ ~ otary Public in an for t e State of Fbr.ida at largf ~ ~ ~ y Commission exp~res: ' ' ' ' - ~ ~ Return To: v~ ~ ~ J ~ First Federal Savings ~ toan Association ~ pf Fcrt P erte. Fort P~-_rce. Florid3 ~ ~ 0 AMD REC ~ iT. L11CiE COU T~Y ~ ROQER PO~g This Instrument Pre ared B Kenneth G. Foltz ~tERK CIRCUIT COUgT~„~~-D ~ First Federal Savings & loen Association RECORD 1IERIFlEO~.....~,~~ ~ of Fort Pierce ~ Flozida .1w.13 3 ao rH ~TZ 4 ~ ~ ~ Checked By - 2332,~4 ~ ~ so~K~~~ PAGE 6~9 ~ ~ # ~ j ; - - - - _ b rk.t?yF .-w - y" y. ar _.,~n~'c,gfi~~~:t.c~vA'_. .