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HomeMy WebLinkAbout2510 3. To piacc and continuously keep on the bui!dmgs ~uw a hereafte~ ~~tuate on sald land a~d on all equipmem and personally covered by th~s mw e9e, w~~h all p~emivms thereon pa~d in full, f{re insurance i~ the usval arandard policy fo~m, in a sum aFproved by the MOR~G:.GEE, and w~t~ds~o ~~s~rance in Ihe u:ual e+andard pot~cy iorm, in a sum approved by ~he MORiGAGEE, in such company pr cor..panies as the h10RTGAGEE m d~reu; and all tire and w~ndsto~m insurance poliues on any of taid build~ngs, any imeresl therein or part thr~eo}, in the aggrcgare wm atoresaid eacess thereof, :F~al! :onrain the usual sta~ldard mor~gagee clauae or such other clause as the Mortgagee may requ~re, making the 1os~ undr~ sa~d po c~e:, each and every, payabte to said h10RTGAGEE as ~ts interes~ may appear, and eacA and every such po~~cy shall be promptly ass gnrd and detiv.;rtd ~ any held by sa~d MOR(GAGEE as furthar security Io said mwtgage debl. and, no~ less than ten ~10) days in ud,ra~xe of the exNirat;on of each poGty, to d~ I~ver ~o said MORTGAGEE a renewal thereof, together with a receipt fo~ the premium oi such rcnewal; and there shall be no f~re or wi~~ds~o~~n irtauranc placed on any of said build~ngs, any interest there~n w par~ thereof, u~tess in tha (orm and with rhe loss payable as a?o~esaid; and in ihe event any sun of money becomes payable under such policy u poGcies said MORTGAGEE shall have ~he option to ~ece:ve nnd app!y ihe same on account of the indeb+ed ness sec~red hereby or to permit said MORTGAGORS to ~eteive and use if w dny parl theraoi i~r osn~~~ pur~osrs, v~~~hout th.nur .v.:~.~a3 cr ur:p,.ir ~ng any equ~ty, Ilen or righ~ under or by virtue oi this mo:r9age; and in ~he event sa~d MORTGAGORS shafl :or any reason fail to keep the said prem~srs so ~~sured, or fail to deliver p~wnptty any of said policies of insurance to ~aid MORTGAGEE, or fo~! promptly to pay fuity any pre~~~ivm theretw or in a~y respect fail to perfo~m, dfscharge, execute, e(fect, comptete, comply wi~h and abfde by this covenant, or any parr hrreof, sald MORTGAGEE may place a~~tl p.~y for such insurance o? any part thereof w~thout waiving or affecting aoy option, lien, rqu~ty, or right unde~ or by virtue of ihis Mwtgage, :nd the f~ll a~nou~t of each and e~'e~y such payment shall 6e immediately due and payable ~nd shall bear interest from tha date thereof unrit paid at the rate ol n~ne p.:r tentum per annu~n 3fld f0~@fI1C~ with such interesf shafl be srtured by tF~ lien of this mortgage. 1. To perm;~, commit w suffer no waste, impai~ment o~ deterioration of said property or any part thcreof. i 5. To pay alt and singular the costs, tharges a~d expenses, including a reasonable attwney's fee and costs of abstracts of title, incurred w paid at ~ any t~~ne by said MORiGAG:E, because or in the even~ of the fa~lure on the part of ~he said MORTGAGOR to duty, pron,ptly and tully pe~form, d~uharqe. ~x~~cute, effect, <omptere, comply w~th and ab:de by each and every the atipu~atio~s, agreements, cond~tions, and covenants ot sa~d promissory note a~d this ma~tgage any or e~~her, and sald costs, chargei and rxpenses, each and every, shall be immedia~ely due aod payable; whe~her w not there be notfce de mand, attempt to colted w suit pending; and the futl amount oF each and eveiy such payment shall bea. imerest from the date thereof untii paid at the ~.•i~ oi n~ne per crntum ~xr annum; and ali said costs, charges and expe~ses incurred w paid, together wuh such inlerest, shall be setured by Ihe lien of thi~ mortg~ge. G. Thnt (a? in the event of any breach of this Mortgage or default on the part of the VIORiGAGOR, a(b) in the event any of sa:d sums of money hrrein referred to be nof pro~nptly and fully paid within thirty (3Q) days nezt after the same severa!ly become due and payable, wi~hout demand or notice, or (c) in thr evem each and every the stiputations, agreements, conditions and tovenants of sa:d p~omiswry note and ~h~s mortgage any w either are nof iufy, promptly a~~ F~tly performe~f, d+uha~ged, execured, elfected, completed, complied with and ab~ded 9y, ~hen in e~~her o? any such event thr sa~d ag 3~egate sum mentia~ed in sald promisswy note then remaining unpaid, with interrst accrued, and a11 moneys secured hereby, shall become dve and pay- ao;e farthwith, or ~hereafter, at the option of said MORiGAGEE, as fvlly and completely as if all of the said sums of money were onginally st~pulated to be pa:d on such dcy, anything in sa:d promisswy note or in this Mortgage to the co~trary notwithstanding; and thereupon oi lhereafter at the option of sa.d MORTGAGEE, without nofice or demand, suit at law or in eqoity, therefore or thereafter begun, may be prosecuted as if all moneys aetwed he~eby ncd matured pnor to ~!s instifulion. 7_ That in the eve~t that at the beginning of w at any ~ime pending any su~t upon this Mo~tgage, or to foreclose it, or to reform it, or to enforce E~avment of any ciaims he.eunder, said MORTGAGEE shalt apply to the Court having jurisd~ction thereof for the appantment oi a Receiver, such Covrt sha71 f:.rthw~th appoint a receiver of said mortgaged prpperty all and singular, ~ncludmg a!I and singular ~he incon:e, profits, issues and revenues from whatever seurce derived, each and eve~y of which, i1 being expressly understood, is hereby mortgaged as if speu(ically set fo~th and described i~ the granting and t,_bendum clauses hereof, and such Receiver shafl have all the broad and ef(ecrive funct~ons and powers in anyw~se enuusred by a Court to a Receiver, and s, ch appo;ntment shall be made by such Court as an admitted equity and a matter of absolute rigM to said MORTGAGEE, and wiehoul reference to the n~!~q~~cy or inadeq~acy of the value of the property mwtgaged or 1o the so~vency or insolvency o( said MOR(GAGOR ~x the defendants, and that sLCh r~.~rz, prof~rs, incane, issues and revenues shaN be applied by sucA Receiver accord~ng to the lien or equity of said MORTGAGEE and the pract~ce of such Court. 8. To duty, promptly and fu~ly perform, d~scharge, execute, effect, complete, comply wifh and abide by each and every the stiputations, agrceme~ts, co~~ditions and covenan~s in sa~d pramissory note and this morrgage set fath. 9. That in the event the ownersh;p of 1he mortgaged premises, w any part thereof, becomes vested in a person other than the MORTGAGpR, tF~e :'.ORTGAGEE, its suctessors and assigns, may, without notice to the MORTGAOR, deal vvith such iucteuw or successor in interest with reference to this ~:~ortgage and fhe deut hereby secured in the same manner as with Mortgagor without in arty way rit;ating or discharging the Mortgagors' liability her~ ~nder or upon the debt hereuy sec~+ed. No sale of the premises hereby mortgaged and no torbearance on the part of Ihe MORTGAGEE or its successws or ass~gns and n~ eztension of the time for the payment of the debt hereby secured given by the MORTGAGEE or its succtssors or auigns, a3u1! operate ro re!ease, dscharge, modifiy cbange or af(ett the original IiabJity of Ihe MORiGAGOR herein, either in whole or in part. 10. It is specificaily agreed that time is of the esse~ce of this contract and that no waiver of any obligation hereunder or of the obligaYwn sN cured hereby shali at any time thereaher be held to be a waiver of the terms heteof w of the instrument setured herby. 11. In ;dd,r;o:~ to the forego~rx~ monthly paymsnts of princ pat and interest required by the prom~ssory no!e secured he~eby, mortgagar covenan?s d agrees to pay ro n:ortgagee with each momhiy payr~:ent an aad~riortal sum est~mated by mortgagee to be eqval to 1,: 12 of the annua) cost of the fQllow- , : A-All real property taxrs levied or assessed against the above described real estate. B- Pr::;:~u ns on iire and w~ndstorm i~surer.ce as here~n requ~red to be carried on the ~mprovements situare on the above dsscribed premises. C-Prem~v,,:s on such mortgage guaranty ir.svrar,ce as mortgagee shall from time to time deem fit to tarry on the loan secured hereby. ` Mortgagce s~~aPl f.om time to time notify mortgagor in writ~ng of the amovnt due and payabte hereundar and wch surn shall thcreupon be due and :.~.ab!e on the dve darc of the next month!y payment and each suttessive month the:eafter ur.tit mortgagee shall notify mortgagor of a thange in such +~unt. Such sums sha:f be ap~died by rteortgagee toward the payment of real property taxes, insurance prem:ums, a~xl mort~age guaranty insurance . •emium5. IN \v'TNE~S WHEREOF, the said MORTGAGOR has hereunto set his hand and scal the day a year irst aforesaid. S' . Sea~ed an d" e~ ' the presence of: 1 " " an _ • Ar ur R._ Mavr . I I ~a~~ ~ (SeaO _ Diane N. Mayr is~an S+A7E OF FLORlDA ' :.JUt1TY OF St . Lucie ~ eefore me personatty appeared Arthur R. Mayr, III a~ ! ~10A@ rI. Mayr his wife, to me well known and known to me to be j ~ individuals described in and who executed the foregoing instrument, and acknowledged before me that they executed the same for the purposes ri:.~.ein expressed. And the said fliane N. Mayr ~ ~ ~ r::fe of the sa~d Arthur R Mayr ~ I I I .;v~on'i 'sepp~~te and private e.am~nat~on by me taken separate a~d apart f~om her said husband, acknowledged to and before me that she executed said,inlfrumejR~lf~2ely snd volurr ~~~~:y and w~ihout any compulsio~, ~onsrraint, appre sion, or fear of or from her wid husband. _ ~ WiTNESS my hand and official seal thi n day of !~U 115t ~y 72 :I.. J~ Notary Public in and for 11~ti .4f~E1Q~i~a,jT.'16fgQ : My Commiss;on expires: . ~ ' ~ , ~ z~ Return To: . . , " ' First Federal Savings a Loan Associauon NOTARY PUBUC. STAT~O~ N.(~11~'~R~ , Of iort P:c~ce. MY COt1MISSlOH EXPIRES'6EPT•'2 ."1975 i Fo.t P"r~~,ce, FIcr;Ja BonCea 8~ Aner"~can Bankeis Ins4rance ~:o• ~ ~ 23461'7 i This Instrument Prepared By Ronald I.. Stutz ' FILEO AHD RECQROED ST.lUC1E COUNTY FLA. First Federal Savings 8 Loan Association ROGE: *OITRAS ~ of Fort Pierce, Rlorida CLE~K Ct~GWT COURT P.E~OR" VE~~FIf~ r i ~ : Checked By A~ ~ ~ OS A+, ; Nia ~ n ~ ~a~ 204 ~~~t 2;~t19 ~ 3~ _ _ , . _ ' °°w^~ F.. ~ : ~ ~S.S'_.~' ~`.C ~ t ~ ~ -LF,~Y~ ~ "~a.~.n~.r`r~.,~sr~'s-;~~ i~` 'i .~¢xz41 °~"4~~..