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HomeMy WebLinkAbout1098 3. To place and coroinuously keep o~ ~he bu~'dmgs now w he~eafter s~tuate on sa~d land and on a!i equipment and personally covered by lhis ma age, with all pren~ivmi thereon pa~d in iull, lire insuronce in the usual sta~~ard pot~ty 1orm, in a sum approved by the MOR(GAGEE, and windsto ~ns~rance in ~hr usual sfandard pol;cy form, in a svm spproved by ihe MORTGAGEE, in svch company o~ companies as the MORTGAGEE m d~rec~; and all fire and windstorm insurance poliues on any of said build~ngs, any ~nter~sl 1he~ein o~ pa~t thereof, in the aggregate sum afaesaid in excess thereof, shall ;ontain the usual ~tandard matgagee clause or such o?hrr dause as the Morlgagee may requ~ro, making the loss undar ta~d po c~es, each and every, paya~te ~o said MORTGAGEE as ~ts imerest may appear, and each and every :uch po:lcy shall be promp~ly ass gned and delivered ~ any held by said htORTGAGEE as luriher security to said ~npr~gage dzbt, and, no1 ~eu lhan ten (10) days in advance of the expiration oi each pol~cy, to d. I,~•e~ to sa~d MORiGAGEE a renewal thereof, toge~her with` a rece~pt fa the premium of such ~enewal; and thz~e shall be no i~~e o~ windstonn insuranc placed on any of said bvild~ngs, any interest therein a parl thereof, untess in ~he form and wi~h 1he loss payable as aforesaid; and in the evenf any sun oi money becomes payable unde~ such policy w pol~cies said MORTGAGEE shall have the opt~on to rece~ve and apply the same on account o( the indebted ~~~~ss secwed hereby o~ to permil said MORTGAGORS to receive and uu it ot any part thereoi for osii~•~ pwposes, v.~iho~~ th~..or waiving er in~pair ~ng any equ~ty, tien or right unde~ w by virtue ot Ihis mo:!gage; end in the event u+d MORTGAGORS shall fw any ~eason fail to keep the sa~d premises sa ~ns~.ed, or iail to del~ver promptly any of said pol~cies of insurance ~o sa~d MORTGAGEE, or fa~l promptly to pay fully any pre~»ivm the~efw a in a~y r.~spect fait to pe~{orm, d:scharge, execute, eFfect, complete, comply with and abide by th~s covenanf, or any part hareo(, said MORTGAGEE may place a~d pay iw such insvr~nce or any part ~hereof withou~ waivi~g or affecting any opt~on, lien, equ~ty, or r~gh~ vnde~ a by virtue of this Mo~tgage, and the f.,il amounl of each and every such payment shall be immediately due and payabk and shall bear interest from 1he date thereof until paid at the rate of n~:~e per camum per annum and to~rther with such imerest shali be sacured by the lien of this morigage. 4. To pe~mit, commit w sufier no waste, impairment w delerioration of said property or any part thereof. 5, To pay all and sing~lar the costs, charges and expenses, inc~uding a reasonable attwney's fee and costs of abstracts of tiNe, incurred o~ pa~d af .,~1 t~me by sa~d MORTGAGfE, becavse or in the evem of the fa~lure on fhe pa~t of the said MORTGAGOR to duly, promptly and fully perfwm, d~scharge, : xece,fe, efieu, compte~e, comply wnh and ab:de by each and every the s~ipulatwns, agreements, cond~tions, and covenants oi said promissory note and this .~:orrgage any or e;ther, and sa~d costs, charges and expenses, each and every, shall be immediate~y due and payable; whether o~ not there be notice de n~and, at~empt to collect o~ suit pend~ng; a~d the full amount of each and every such payment shall bear interost from the date thereof until paid al the r.~+e o` nine pe~ centvm pcr a~~ou n; and ai{ said costs, charges and exptnses incurred w paid, together w~thZuch iMerest, s1w11 be secured by the lien of ihis mortgage. b. Thal (a) in the event of any breach of this Mwtgage or default on the part of the MORTGAGOR, or (b) in the event any of said sums of money h.~rein referred to be not pranprty and fully pa~d within th'uty (30) days next aiter the same severatty bec~me due and payabte, wi~hout demand or notice, or (c) in thr event each and evr~y the stipulations, agreements, cond~!eons and tovensnts o! sa:d promiswry note and th~s mortgage any w either are nol iuly, promptiy and iully perfo:~ned, d:xharged, executcd, effected, completed, complied with and ab~ded 5y, Ihen in either or any such event tFx said ag ~ ?regate sum mentioned in said promissory note then remaining unpaid, with interest accruzd, and all moneys secured hereby, shall become due and pay ~ ~t:•= fo~rhw~fh,' or ~hereafter, at the opt~on of said MORTGAGEE, as fully and complefely as if all of the said sums oi money were w~ginally st~putated rc be pa:d on such day, any~hing in sa:d p+omissory note or in this Mortgage to Ihe co~uary notwirhstanding; and thereupon w thereaiter at the option of s~:d MORTGAGEE, without norica a demand, suit at law w in equity, therefae or thereafter begun, may be prosetvted as if +~II moneys secured hereby n.~d mawred pnoi ~o ~ts institutwn. 7. That in the event that at the beginn~ng of or at any time pending any su~t upon this Mo~tgage, or to foreclose it, a to reform it, or to enforce rr±ent of any claims he+eunder, said MORTGAGEE shall apply to the Court having jurisd:ction thereof ior. the appointment of a Receiver, such Court shall ..,•!hwith appo~nt a receiver of said mortgaged p?operty all and singular, includ,ng all and singu~ar the income, profits, issues arsd revenues from whatever _.•ce der~ved, each and every of wh~ch, it being expressly understood, is hereby mongaged as if specfically set forlh and described in the granteng a~d i n.:t;endum uauses he:eof, and such Receiver shall have alt the broad and effective funct~ons and powers in a~yw~se emrusted by a Court to a Receiver, and s:h appcintment shaii be made by such Court as an admitted equity and a ma~ter of absotute right to said MORTGAGEE, and without reference to the r.'._•auacy or inadequacy of the vatue of the property mutgaged or to the sowe~cy or insolvency of said MORTGAGOR a the defendants, and that such ~fs, prof~t:, ~r.cane, issues and revenues shall be applied 6y such Receiver accordmg to the lien or equity o1 sa~d MORTGAGEE and the practece of such - Court. 8. To duty, promptSy and fuliy perform, d~scharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreemenri, :~:;d~tions and covenants in Said promissory 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 perwn other fhan the MORTGAGOR, the ~4TGAGEE, its successors and assigns, may, withouf notice to the MORTGAOR, deal with such svccessor a svccessor in interest with reference to this ~~~gage ar.d ;he deot hereby secured the same manner as with Mortgagor without in any way vitiating w discharging the Mortgagori liability herr der or upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the part o( the MORTGAGEE or its successws ass~gns and no exrension of the time for the payment of the debt hereby secured given by the MORTC~AGEE or its successws or assigns, atiall operate !o re!ease, d~scharge, modify change or affect the orig~nal liab~lity of the MORTGAGOR herein, either in whole or in part. 10. It is speuf~cally agreed fhat time is of the essence of this co:~tract and that rro waiver of any obligation hereunder or of the obligaYron se- c~~-ed hereby shali at any time thereafter be held to be a waiver of the terms hereof w of the instrumero secured herby. 11. In acid t~o:i to the i~ego'ng month!y paymems of princ pal and i~terest requ~red by the promissory note secured hereby, mortgagor covenaMs + d agrees to pay to n:orrgagee with each moroh!y payraer.t an add~rional sum estimated by mortgagee to be equal to 1,` 12 of the annual cast of the follow- A-A!I reaS prop~rry taxzs le.~ed or assessed agai~st the above described real estate. , 6--Pr~n:w:ns o~ fire and w~ndstorm insuracce as he~ein rcqu;red to be tarried on the imp~oveme~is situate on the above destribed premises. _ ' C-Premlv:~s on s~ch mort~age guaranty ir.sura~~ce as mortgagee shall from t~me to time deem fit to carry on the loan secured hereby. I.lortgagre sha!I from t~me to time notify mortgagor in writ~ng of the amount due and payable hereundar and such sum shall thereupon be due and I .ab:e on the duF dare of thz next month:y paymem and each wttessive rreonth thereafter ur.1i1 mortgagee shall notify mortgagw of a change in such I ';unt. Such sums sha:l be app!ied by mortgagee roward the payment of real property taxes, insurance prem;ums, a~x! morfgage guaranty insurance ~ . e•~iums. IN l'JITP~ESS LYHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and year first foresaid_ ~ / Signed, Sealed and del' ec in t presence of: / / an Ll 1 Z (5ean _ _ a~ _ _ Clotilde F. Ta lor ~aq ~ ~ S~~TE OF fIORIDA St . L11C1@ ~ S5. ~JUNTY OF Before me pe~sonally appeared - LlOyd TaylOZ a~ C10'tl l~ F. Taylor h+s wife, to me well known and known fo me to be ' t~a ind~viduals described in and who executed the foregang instrumenf, and acknowtedged before me that they executed the same for the purposes ! rh_rein expressed. And the said CIOt11C~@ F. 'Taylor fe of the sa~d Lloyd Taylor , vpon a separate and private r•~~nlnat~on by me taKe~ separate and apart from her said husband, ackrawledged to and before me that she execvted said instrument freety and volurr ~ •::y ard without any compu~san, constrair.t, appre , or fear of or from her said husband. . . WITNESS my hand and official seal thi day of Au St A.~D, lA~ . ~ ~ N ary Public in and w• Stafa of F' a af largf My Commission eapires: ~ ~ ~ Retum To: ~,v " v h Fl' - c ~ fL`j='#i~1nf C11i~ First Federal Savings 3 Loan Association ~ < . N ~ti ~ . : a.,R. ? ~ : F ' ' ~ Of fort P,rce. .\._dh~ ..t..... ..:_.;I..i:e~~,~ s Fo~t Pierce. Florida ~ ~ ~ ~ : FtIE~ Al~. Ff~COA~£0 This Instrument Pre ared B Gat F. Ellxood fT.UiC1E .~fUY71f F~L t p y y p~ti, ~F .;~+7RA~ First Federal Savings & Loan Association ~~~R~, Uf: COU~ ~ of Fort Pierce~ Fioziaa o~F~~~r.=.~F+•+Efl ~ Checked By 2' ~2 ZO ~n ~ ~05 ~~i~~ z3s~4:~ 6~K s ~ ~z ; . ; - _ _ - ~ _ _ _ ,3 { ry, - y . V . k J . .