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HomeMy WebLinkAbout0770 3. To place and ccntinuousty keep on the bui'd~ngs now w herea(~er ~iluate on sa~d tand and on ali equip~nent and personally covered by this ma e9e, w~th a!I premiums thereon pa:d in full, fi~e insurance in the usual staidard polity form, in a sum app~oved by tha MOR~GAGEE, and winds~o ~nsurance in the usval standard po::cy lam, in a sum approved by ihe MORTGAGEE, in such company or compan~es as the MORTGAGEE m dnect; and all fire and w~ndirorm insurance poGc~es on any of said build~ngs, any interesl therein or parl Ihereol, in the aggregate sum atoresaid in excess ~hereof, shall tor+rai~ the usual s~a~~dard ~natgagee clsuse w such o~her clause as the Mo~tgagec may requ~re, ma?i~g ihe ioss undr~ s~~d po c~es, each and every, payable to said MORTGAGEE as As iroerest may appea~, and each and eve~y such po:icy ~hatl be promprty ass gned and de~ivered ~ any held by said MOR(GAGEE as iur~her ~ecv~ity to said mortgaye debt, and, not less than ten (10) days in advance of ihe expirat~on of each policy, to d. fver to said MORTGAGEE a ren.:wal thereof, togeihrr with a rece~pt for the premium of wch renewal; and there shatl be no f~re or ~vindsto~m insuranc placed on any of said bui!d~ngs, any interest there~n w part t~ereof, untess in ~he form and w~th the loss payabte as afo~esaid; and in the e~ent any sun of money becomrs payablr undrr such policy a pol~cies said MORTGAGEE atiali have the opt~on to rece~vc and apply the same on accou~i~ oi the indebt~d ness secured hereby w ro permit sa~d MORTGAGORS to receive and use it p any part tk::cof tor oti~er pwpe:rs, v.:~ho~t ih~.,~r .Y.:~~~*3 ~+~~P~~^ ing any equity, lien or right unde~ w by virtue of ~his mo::gage; and in the even~ sald MORTGAGORS shall for any reason fail to keep the aa~d premisrs so ~niured, or fail to deGver prompHy any of said poGcirs of inw~a~ce to said MORIGAGEE, or fa~l promptly to pay fu11y any prem~u~n therefor or in a~y respec~ fail to perform, d~scharge, eaecute, effect, complete, comply with and abide by th~s covena~t, or any part hereof, said MGRTGAGEE may p~ace a~d pay fp such insurance or any part thereof without waiving or affecting any option, lien, equity, or ri~hl under or by virt~e of this Mortgage, and the ~ fuit amouM of each and every suth payment shal! be im~ned~ately due and payable and shall bear interest irom ~he date tfierec~f un~il paid at ~he rate of n~ne per cenwm per annum and to~ethcr with swh in~eroat sha~i be secured by the lien of this mwtgage. To permif, commit w suffer no waste, impairment w deterioration of said property or a~y part thereof. 5. To pay all and s~ngular the costs, charges and expenses, ~ncluding a reasonable attwney's (ee and costs of abstracts of title, incurred or paid at any rime by said MORTGAG:E, because a in the event o( the fa~lure on the part of thr :aid MORTGAGOR to du!y, promptly and fully prrfqtv~, d~scharge. execute, effett, comptete, tomply w~th and ab:de by each and every the stipulat~ons, agreements, condit~ons, and covenants o~ sa~d pro~nisso~y nole and this mortyage any w either, artd sa~d costs, charges and expenses, each and every, ahatl be immediately due and payable; whether w not there be notice dz mand, attempt to colled w suit pending; and the (ult amount of each and every such paymem shall bear interest from the date thareof until paid at the r,~ie o~ n~ne per ccnt~m per anrw:~r znd al! said costs, cnarges and expenses ~ncwred w paid, together wnh such interest, shalt be secured by the lien of this mortgage. 6. That (a) in the event of any breach of th~s Mwtgage w default on tlK pa.t of the MORTGAGOR, a(b) in the event any of sa;d sums of money herein referred ~o be not promptly and fully paid wirhin thirty (30! days next aite~ the same severa!ly betome due and payabte, withovt demand or notice. or (c) in the event each and every tha sfipuiations, agreements, cond~tions and covenants of sa:d p~omissory note and th~s moitgage any or either are not iu'y, prompNy a~d fully performed, d;scharged, executed, effec~ed, completed, comp6ed with and ab~ded Sy, then in enher or any such event the sa~d ag g:egate sum ment~oned in said promissory note then remaining unpaid, with inte~est accrued, and a!1 moneys secured hereby, shalt become due and pay- able forthwith, or thereafter, at the opt~on of sa~d MORiGAGEE, as futly and completety as ii all of the sa~d sums of money were or~ginally st~pvlated to be pa:d on such day, a~yfhing in sa:d prom~ssory note w in this Mwtgage to the contrary notwithsta~d~ng; and thereupon w thereatte~ af the opt~on ot said MORTGAGEE, wi~heut notke or demand, suit at law w in equity,_there(ore w thereafter begun, may be prosecuted as if all moneys secured hereby n~d matured pnor to ~ts institut~on. ' 7. That in the event that at fne beginr.ing of w at any time pending any suit upon this Mortgage, or to foreclose it, or to reform it, or to enforce paymeM of any claims hereunder, said A10RTGAGEE shall apply to tiie Court hsving jurisd[ction thereof ior the appo~ntment of a Receiver, such Court shall tcc~hwith appoint a receiver of said mortgaged property all and singular, inctud~ng all and singular the income, prof~ts, issues and revenues from whatever s:~rce derived, each and every of wh:ch, it being expressty uoderstood, is hereby ~fg~ed.~s.jS sF~c~~eatly.set,{ottl~~~od dexribed in the granting and h~:xndum tlauses hereof, and such Receiver sha1; have aIl the broad and effective funct~ons and powers ~n an~v~se entrusted'by a Court to a Receiver, and s~ch appointment shall be made by such Court as an admitted equity and a rrwtter of abso?ute rigM to•sa~d•~VI~RTGAGEE, and without reference to the adequaty o~ inadequacy of the value of the property mo.tgaged or to the s~~vency or insolvency oi ssid MVtTCiAGOR of: ~t defendams, and that such renfs, profits, incane, issues and revenues shall be apptied by such Receiver accorduig to 1he lien or equity•of said y104T~~Ef~.ind the practice of suth Court. - . - • - 8. To duly, promptiy and fully perfo+m, discharge, execute, effect, complete, cOmply with 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 mo~tgaged premises, or any part thereof, becomes vested in a perwn other than the MGRTGAGOR, the :'.ORTGAGEE, its successors and ass~gns, may, witFw„~ notice to the MORTGAOR, deal w~th s~ch successw or successor in interest with refere~ce to this n:o~tga~e and the debt hereby secured in the same manner as with Mortgagor without in any way vitiating or'~discharging the hlortgagors' liability here- under or upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the part af the ~JIORTGAGEE or its successors or ass~gns and no exrension of the time io~ the payment of the debt hereby secured given by the MORTGAGEE of its successas or auegrs, aiiall operate ro releau, d+scharge, modity change or affect the original liau=l~ty of the MORTGAGOR herein, eifher in whole w in part. 10. It is spec~fically agreed that time is of the essence pf this contract and that no waiver of any obllgation hereunder or of the obligaYan se- c~red hereby shal~ at a~y time tFKreafrer be he!d to be a wa~ver of the lerms hereof or of the instrument secured he~by. 1 l. In a3d.tEo1 to the Forego ng monthty payments of princ'pa1 and inrerest required by the p~om~ssory note secured hereby, mortgagor covenants ~•~d agrces to pay to mortgagee w~th each monthly pay~.~ent an add;~ional s~m est:n:ared by mortgagee to be equal to 1,' 12 of the annual cost of the follow- ,y: A-All real property taxrs ieyiew or asse3sed agai•ist nc~ acove described real estate. ~ B-Prerr.;o:ns un fire and windstorm insvrar.ce as here~n requ:red to be carried on the im,;roveme~ts situate on the above described premises. ' C-Premiums on such mortgage guaranty ir.zurar~ce as mortgagee shall from t:me to time deem fit to carry on the loan secured hereby. ! Mongagee sha!i fram ~ime to nme notify mortgagor in writ~ng of the amount due arsd payable hereundrr and such su~n shall thereupon be due and ~ ~.~yabte on the due date ef the next month:y payment and each successive month thereaft~r urtil mortgagee shall rtotSfy mortgagor of a change in such E ~~.ount. Such sums sF.ail be app:ied by mortgagee toward the payme~t of real property taxes, insurance prem,ums, a~id mortgage guaranty insurance r•emiums. ~ IN Y11TNE55 '1JHEREOF, the sa~d MORTGAGOR has hereunto set his hand and seal the day an year first afwesaid. Signed, Sealed and delivered in the presence of: ~ ~ r_ n ~ i'.o ~ Smith r. ~aq (Seaq . • (Sesl) :•:erriam T.~'n_tth ATE OF FLORIDA , couNrv oF ~ t. Luc i e j~' ~ i:o ? C. Sm~th Sr. ' Befue me personatly appeared 1 ~ a^d ;•~Q ~ T 17 TR T SS'1 L t h his wife, to me well known and krrown fo me fo be the individuats described in and who executed the fwegoing instrument, xx! acknowtedged before me that they executed the same iw the purposes rherein expressed. And the said ' ~~r ~ 1dfI1 T. Sm t r h i!e of the said _ t~0~~ C. 5:71 t~l ~ S I" . , upon a sepirata and private exam~narion by me taken sepa~ate and apart from her said husband, acknowledged to and before me that she exetuted said instrument freely and volwr ranly and without any compulsio~, constraint, apprehension, w fear of w from r said husba /y~q WITNESS my hand and official seal this ~3~~- day `~''I1~:D:.14'~,C~ ~ y ~ ~ otary Public in and for the State i~ u - My Commission expires: ~ ~ .~"i~ ~ ~ Return Toc > . ' ~ ~ ~ ~ ' 3' ,M'~ - SJ._ ~Q'.., • - First Federal Savings 8 Laan Associatiiln "~Y ~ ~'SE ~~:,a ~ ~'r: F97 Of Fort P,e:te. ~d3:~'1>' ;,~1 lc,~.~ G~=~~ 5 ~.Lr.~.e~ Yl ::.:q, Fort Pi~rce, Fiorida ~~,s•~'-..,, * ± ; ' ~ FtlEp ~MD RECpR EO " ~ . , . ~ ~ sT. LUCIE COUNTY ~LA. Th~s Instrument Pre ared B`~hn . Co t l in s ROGER POtTR~E P Y ~ CLEAK CIZGUIT COURt ~ First Federal Savings & Loan Association RECOiiO VE~~FIEO ~ of Fort Pierce ~ r l~r ic'~s ~ ~L I~I 4 09 P H' Z Z BocK~ O 4 P~CE Checked By 23333b ~ E . ~ , ~ . . _ _ ' _ .-f:~,:..' ' ~ s _e '°e~cc:_~_ s.;~a . . .