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HomeMy WebLinkAbout1102 3. To place and continuously keep on the bui!dings now o~ hereafte~ aituate on said land and on ali equipment and personally tovered by thi~ mor age, w:~h all prsm~u.ns thereo~ pa~d in FuII, fire insurance in the usual ~rendard policy io~m, in a sum approved by the MOR(GAGEE, and windsto ~nswance in the usual uanc~ard pol,cy form, in a wm approved by the A10RTGAGEE, in such canpany or canpan~es ai the MORTGAGEE m d~rect; and all fire a~~d w~ndstorm insurance policies on any of sa~d build~ngs, sny interesl therei~ or pa~t thereof, in Ihe aggrega~e tum afo~esaid in exczss ~hereof, sfiaU contain the usual standard mortgagee ciause w such otFx~ dause as the Mor~gagee may requ~rs, making the lo~s unde~ sa~d po c~es, each and every, paya4le ~a said h10RTGAGEE as its interesl may appear, and each and every such policy shall tx promptly ass gned and delivered 1 any held 6y sa~d Ir10R(GAGEE as iurthcr set~rity 1o said mortgage debt, and, not leu than ten (10) days in advance oi the expiration of eath polity, t0 d~ I;ve? ~o said A10RiGAGEE a~enewal thereo(, together with a receipt for the premium of such renewal; and ihere shall be oo Gre or winds~o~m insurant placed on any of said build~ngs. any in~erest therein or part ~hereof, unless in the form and with the loss payable as a(oresaid; and in the event any sun of money becomes payabte unde~ such policy or policies said MORTGAGEE shall have Ihe option to receive and apply the same on at<ount of the indebtzd ness srcwed hereby or ro permit sald MORTGAGORS to reteive and use it a any part thereof for o:hcr purposes. v.~~hout fh~r.or wa~~ing o~ nt~pair ~ng any equ~ty, I~en or r~ght u~der w by virtue of this mo::gage; and in Ihe eve~u sa~d MORTGAGORS shall {or any reason fail to keep the said premisr~ w ~nsur~d, or fail to dzl~ve~ pro~~~ptly any of said pol~cies o( insurance to satd MORTGAGEE, w fail promptly to pay fuily any pre~nium therefor or in any respect fait to pe~form, d~scharge, execute, eiiect, complate, comply wi~h and abide by this cove~an~, or any part hereof, sa~d MORTGAGEE may place a~d pay e~ :uch insurence or any part thereof w~thout waiving w affecting any opteon, lien, equity, w ~ight under w b~ virtue of this Morlgage, and the fuli amount of each and every s~ch payn,ent shall be immediately due and payrbte and shatl bear interest from the date thercof until paid at the rate of ~ n~ne per cenTVm Ner annu~n and togethrr with such interest shali be srcured by 1he lien of Ihis mafgage. d. To permit, commit or suffer no waste, impairment w deterio~ation of said p~operty a any part thereof. 5. To pay aIl and singular the costs, charge~ and expenses, includi~g a reasonabte attorney i fee and costs of abstracts of title, incurred o~ paid st any tiir.e by sa~d MORTGAGfE, because a in the event of the failure on the pa~t of the said MORTGAGOR to duly, promptly and fully perfwm, d~scharge, >tecute, efiea, complete, comply w~th and ab:de by each and every the stipulat~ons, agreements, condiiions, and co~ena~ts of said promissory note a~d ~his .,~orrgage a~y or e~ther, and sa;d cos», charges and expenses, each and every, shall be immediately due and payable; ~hether or ~ot there be notite do- mand, atrempt ro~oltect w suit pending; and the fult amounl of each and every such paymenl shall bea~ iMerest from the date thereof umil paid at the ~.•<< o~ nine ut~ crntum pcr annu~r, an~ all said costs, charges and expenses incurred or paid, together w~th such interest, shall be secured by the lien of thi~ mortgdge. 6. Thal (a) in the event af any breach of this Mortgage or default on the part of the MORTGAGOR, or (b) in the event any of satd sums of.money he.ein referred ?o be not promptly and fully paid within thirty (30) days next af~er the same severatly become due and payable, without demand or noiice, or (c) in fhr event each and every the s~ip~lations, agreements, cond;tions and covenanrs of sa;d promissory note and th~s mortgage any w either are nol iuly, promptly and iully performed, d~scharged, executed, effected, completed, compl~ed with and abided Sy, than in either or any svch event the said ag ~regate sum mentioned in said promisswy nore then remaining unpaid, with interest accrued, and atl moneys secured hereby, shall became due and pay- a~:e forth.v~th, or thereafter, at the option of said MORTGAGEE, as fully and completely as if all of the said sums of money were originally stipu~atecl ~o be pa:d on such dcy, a~y~hing in sa:d prorn~ssory note w in this Mwtgage to the contrary notwi~hstand~ng; and thereupon a thereaiter at the op~~on of sa:d MORTGAGEE, without notice or demand, wit at law or in equity, therefore or thereaiter begu~, may be prosetuted as if all moneys secured hereby n_d matwed pnor to ns institution. 7. That in the event that at the beginnirg of or at any time pending any wit upon ttiis Mortgage, or to ~wetlose it, w to reform it, or to enforte ~aiment of any claims hereunder, said MORTGAGEE shall apply to the Court having jurisdiction thereof for the appointment of a Receiver, such Court shall i~~rhw;th appoint a rece+ver of said mortgaged property a!1 and singular, includ~ng all and sir.g~iar the income, profits, issues and revenues from whatever s_~rce de.ived, each and every of wh~ch, it being expressly unders~ood, is hereby mongaged as if spec~fically set forth and desuibed in the gran~ing a~d t. ,?;end~m c:auses hereof, and svch Receiver shall have all the broad and effect~ve funu~ons and powers in anywise entrusted by a Court to a Receiver, and s:!, appOiniment shall be made by such Gourt as an admitted equity and a matter of absolute rigfi~ to said MORTGAGEE, and withcut reference fo the c~i~,~;,;cy o~ ~nadequacy of the value of the property mortgaged or to the soivency or insolvency of said MORTGAGOR a the defendants, and that such ,,fs, profits, inco.ne, issues and revenues shall be applied by such Receiver according to the lien w equity of said MORTGAGEE and the practice of suth Court. 8. To duty, promptly and futly perform, diuharge, execute, eifect, complete, comply with and abide by each and every the stipulatio~s, agreemeots, i _onditions and covenants in sa~d promisswy no!e and thls mortgage set forth. . 9. That in the event the owne+ship of the mortgaged premises, a any pari thereof, hecomes vested in a person other than the MORTGAGOR, the ':.ORTGAGfE, its s~ccessors and assigns, may, without notice to the MORTGAOR, deal with such successw or successw in interest with reterence to this o~tgagc ar.d the d~=bt hereby secured in the same manner as with Mortgago~ without in a~y way vitiating or d~uharging the Mortgagors' liability herr ~~,dr~ or upon th~ debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the part of the MORiGAGEE w its successors cr ass g~s and no e:tens~on of the time for the payment of the debt hereby secured given by the MORTGAGEE or its successors w au~gns, shall operote ro re!ease, d~scha:ge, modify change or affect the orginal iiab~lity of the MOR7GAGOR he~ein, either in whole or in part. 10_ It is speufically agreed that time is of the essence of this contract and that ~o waiver of any obligation hereunder or of tbe obligation se- cured hereby shal~ at any time thereafter be held to be a waiver of the terms hereof o~ of the instrumeM secwed herby. 11. In ~dd.rEo~ to ~he iorego:og monthfy paymrnts of pri~c'pal and interest required by the promissory note secured he~eby, mortgagor covenants 3~,d ag~ces to ;~ay ro mo:tgagee with each monTh~y pay~.:ent an addirional sum .estineated by mortgagee to be equal to 1 j 12 of the annual cost of the follow- A-A11 real.prop~rty taxes 1e~n=d or assessed agai~st the above described real estate_ , B-Fr,;~::~u~~s on fire and v~indsto:m insuracce as herein requ~red to be carried on the improveme~rs s:tuate on the above described premises. C-Prrm:ums o~ such mortgage gvaranty ~r.surance as mortgagee shail from tme to time deem fit to carry on the loan secured hereby. j'~ fllortgagee sh3~1 .'rom r~~ne to time notify mortgagor in w.iting of ?he amo~nt due.and payable hereundrr and such sum shall ihereupon be due a:~d y I • vsoie on thr due date of the next month!y paym.ent and each successive mo~ith thereafter ~rtil mortgagee shall notify mortgagor of a change in such ' ~ ~ ount. Such wms sFa:i be applied by mortgagee toward the payment of real property taxes, insurance prem:ums, and mwtgage guarenty insurance i ~ ,~•emiums. ~f IN 1'lITNESS WHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and year first afwesaid. f Signed, Sealed and 'vered 1he presente of: ~ _ ' aq _ Ll a r ~~,q - (Seaq _ . Sea4 STAT~ OF FLORIDA St. Lucie u' CJilNTY Of I Before me personally appeared Lloyd Taylor and Clotilde F. Taylor his wife, to me well known and known to me to ba r~_ ind~vid~aEs descr~bed in and who executed the foregang instrument, and acknowledged before me that they executed the same for the {wrposes therein expressed. And the said Clotilde F• T~/ZOI' _ ' ~ ~`e of the sa~d Lloyd Taylor upon a separate and private cram~nat~on by me taken sepa~ate and apart from her said husband, acknowledged to and before rtte that she exetuted said i~strument free{y and vdun- ~ rn!y and w~thout any compulsion, co~straint, appre e si or fear of or from her uid husband. ; WITNE55 my hand and official seal this_ ~ day of A l1St q, p, ~"q~ ~ _ i E , < ~ Mota Public in and fo t State of~ Fbtida d Large ~ My Commission expires: ~ : ' ~ ~ f~eturn to: NpTA~r P~g~~r cTATF f`~ Fl(~;~A' AT LAjZ~- Fint Federal Savings d. Loan Association n-• cv:--: ^ ~ Of Furt P e: ce. h! i: ~ ..:1• _ . 1g7~- GENE~;L titi::W1tYCE UCiOcRW.EiTL~.°~.:INC. ~ ! , j/ . . Fort Pierce, F7crida " ' ' f ~EO a~u aECOROe ~ ~ s~. wc~~ couNTr f~ This Instrument Prepared By : Gary F. EllwOOd ROGcN FBiTRAS ~ ~ First Federal Savings & Loan Association CIERK Ci :~UIT COURT ~ of Fort Pierce ~ Flot'id2t 33L~50 RE~0~1 VERlFIED.~.~ 'L Checked By _ ~ IIfR~ Zi 12 Zi PH'?1 235'745 ~ o~ ~ $aox~ ~?s~~~~ ~,l "`C`.C . " ' . _ °~~-,-.-,rq`` ~~t~~s~~`~-~~ F . . . ~ .