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HomeMy WebLinkAbout1691 3. To ptace and coroln~ously keep on the bui'dfngs now o~ hereafter ~~tuate on sa~d land and on ail eqvip~nent a~+d personally covered by ~his mor age, w~~h ail pren:~ums thereon pa~d ~n f~lt, fire insurance in ~he usual Stai~ard po'•~<y form, in a sum app~oved bY the MOR~~~GEE, and windsto ~+~su~ance in the ~sual s~anda~d po:~cy form, in a sum approved by the MORTGAGEE, in tuch company or compan~es as the AtiORTGAGEE m d~reu; and all f~re and w~ndstorm insurante policies on any of said bu~ld~ngs, any interest therein or part thrreof, in the aggregate sum aforesoid in eacess ihereof, shall :ontain the vsual standard morrgagee clause or such other tlause as the Mortgagee may requ~ro, making ihe loss u~der sa~d po G~~s, each and every, paya5!e to said MORTGAGEE as its imerait may appear, and each and every svch po~~cy shatl be promp~iY assg~~ed and delivered t ~~y held by saiJ P.1pRfGAGEE as tui~her security to said mongage debt, and, oot less than ten (10) days in advmxe of ~he expiration of each polity, to d~ t:~er to said MORiG~~GEE a renevcal thereof, toge~her with a receipl for the p~emium of such renewal; and thero shatl be no i~re or windito~m inswanc p(jced on any of sa~d b~l!d~ngs, any ~nterest there~n or par~ thzreof, unfeis in ~he torm and with the Ioss payabte as atoresaid; and in ~he event any sun of money becor~~es poyable unde? such policy w polrcies said MORTGAGEE shall have the opt~on to receive and app!y the sar.ie on account oi the indebted } n~•ss aewred hareby or to permit said MORTGAGORS to reteive and use it or any pan thcreof tor osir_~r purF:oses, .v:~ho~t ~h_~cu~ .vs~w.~g or ~n:pa~~ ~ng any equ~ty, lien w~~ght under or by virtue of this mo:tgage; and in the event sa~d MO~TGAGOR$ shall 4or any reason (ail to kzep the said premises so ~ ~ns~red, or fail to del~vcr promptly any of said po~~cies of insurente to said MORTGAGEE, or foil pcomptly to pay fully any pre:n~um thcrefw o~ in a~y respra lai! eo pe~form, d~scharge, execute, etfect, compiete, co:nply with and abide by this covenant, w any part hareoi, sald MORTGAGEE may place a~~d pa~ for such insurance or any part thereof w~~hout waiving or affec~ing any op~~on, Gen, equlty, or right unde. a by vi~tue of this h1o~+gage, and the '~ii a~nount of each a~d e.ery such payment shafl be ~mmediately due and payabte and shall bear interest from the date thereof umil pa~d at ehe rate of n ~,e per cenfurn per annum and to~ether wi~h such interest shali be srcured by the lien of this mortgage. 1. To permit, commit or suffe~ rto waste, impairmenf or deterioration of said property w any part thereof. 5. To pay all and singula? ihe costs, charges and expense~, including a reasonabfe attor~ey's fee and costs of abstracts of t~fle. incurred or paid at ~ny ti:~:e by s~id MORIGAGfE, because o~ in the event of the failure o~ the part of the said MORTGAGOR to duly, p~ompt~y and futiy periorm, d~uharge. _ x~cvte, etfeu, compiete. comply wnh and ab:de by each and eve?y the stipula~ions, agreements, conditions, and cover~ants of said promissory note and thi. ~~c~fgage any or e~~her, and sa~d costs, charges and expenses, each and every, shall be immediately due and payable; whether w not there be nonce da ma~d, attempt to cotlect or suit pend~ng; and the full amouM of each and every s~ch payment shall bear interesf from the date thereof until paid at the ~e o+ nine per crntu•n par annu:~r, and aU said costs, charges and eapenses incurred w paid, together wah such interesl, shall be secured by the lieo of thu mortgage. 6. That (a) in thc event of any breach of this Mortgage or default on the pa.t of the MORTGAGOR, or (b) in the evenf any of sa:d iums of money ~ here~n referred to be not promptly ard fully paid within thirty (30) days nexf after the same severa;ly 6ecome due and payable, wi~hout demand or notice, or ;c) in the event each anJ every ~he s~~pu~at~ons, agreements, cond~t~o~s and covenants of sa~d promissory note and th~s mortgage any or ei~her are not i~:y, prornptly a~d fully perfonned, d:scharged, execured, eifected, completed, complied with and abided Sy, then in either w any such event ~he said ag ;~egate sum memioned in said promissory note then remaining unpaid, with interest accrued, and all moneys secured hereby, shali become due and pay- -o c forthw~th, or thereafter, at ihe opcion of said MORiGAGEE, as fully and completely as i( all of the said sums o~ mooey were aiginally shpulated .o be pa•d o~ such day, anything in sa:d paomissoty note w in this Mortgage to the contrery notwithstanding: and thereupoo or thereafter at the opfion of s• d h10RTGAGEE, wrthout notice or demand, suit at law or in equity, therefore or ~hereafter begun, may be prosecuted as if all moneys secured hereby r..d matured pnot to ~ts institufion. 7. That in the event ~hat at the beginning of w at a~y time pending any suit upon this Mortgage, or to fweclose it, or 1o reform it, or fo enforce ~~;ment of any daims here~nder, said MORTGAGEE shall apply to the Courl having junsd~ction thereof tor the appointmeN of a Receive~, sucA Court sha!1 r~:rhwith appo~nt a receiver of said mortgaged property all and singular, includmg a!1 and singular the irtcome, profits, issues and revenues from whatever ~~~ce derivtd, each and every of wh~ch, it being expressiy undersrood, is hereby mortgaged as if speu~icatly ut fwth and dewibed in the granring and ,!:endvm c:a~ses hereof, and such Receiver shall have all the broad and eifective funct~ons and powers in anyw~se emrusted by a Court to a Receiver, and s._n appo~ntmrnt shall be made by such Court as an admitted equity and a matter of absQl~te right to said MORTGAGEE, a~+d without refe:ence to the ~.i-:a,,acy or in3dequacy of the value of the p~operry mortgaged or to the so~vency or insolvency of sa~d MORiGAGOR w the defendants, and that such ~+s, pro~+ts, inco.ne, issues and revenues shall be applied by such Receiver accord~ng to the lien or equity of uid MORTGAGEE and the prattice of suth Court. 8. To dvty, promptly and ful!y perform, discharge, execute, tifed, complete, comply with a~d abide by each and every the stipulations, agreements, ~ :or:ditions and tovenants ~n said promissory note and this mortgage set forth. ; 9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a perwn other than the MORTGAGOR, the ~RTGAGf:, its successors ar.d ass~gns, may, without nofice to the MORTGAOR, deal with such successw or successor i~ interest with reference to this o•+gage ar.d the d_bt hereby secured in the same manner as with Mortgagor without in any way vitiating Or dixharging the Mo+tgagors' liability her~ urder or upon the drbe hereby secured. No sale of the premises hereby mortgaged and no forbearance on the pan of the MORiGAGEE or its succeswrs ass~gns and no exrension ot the t~~~e for the payment of the debt hereby secured given by the MORTGAGEE or its successws or auigns, aiiall operate !o ~~~ease, d~scharge, modify change or af~ect the orig~nal liab~lity of the MORTGAGOR herein, either in whole or in part. 10. It is spec:f~:alty agreed that time is of the essence of this contract and that no waiver of any obligat~on hereu~der or of the obligatan se- a:-ed hereby sha!~ at any time thereafter be held to be a warver of the terms hereof or of the instrumeM secured herby_ 1 l. In ;.dd No~ to the fo~ego ng rnonth!y payments of princ pal and inrerest required by the prom~ssory no!e secured hereb~r, mortgagor covenants d agr~es to pay to mo-rg~gee w~th each monthiy pay~~ient an add~rional svm est~mated by mortgagee to be equaf to 1/ 12 of the annual cost of the follow- A-All real prop^rty taxos lev~ed w assessed agaiast the above descriyed real esrate. B- Pr~~.~u ~s o~ f~..~ and windsterm cnsurar.ce as here~n requ~red to be carri~d on the ~mproveme~ts s~tuate on the above d_scribed premises. C-Prer.~~;,;~ s o~ s~ch n:ori~age guaranry ir.surar,ce as mo~tgagee shall from t me to time deem fit to carry on the loan secured hereby. i htortgagee sh,'i f~c:n rhre to tlme notify mortgagor ~n writ~ng of the arr.ount due and payable hereundrr and such suT shali thereupon be due snd 4 ..~b:e on ihr clue ciate oi th= ~~ext month!y payment and each successive monrh thereafi:r unti! mortgagee shall notify mortgagor of a change in such ~ ~unt. Such SU~1~S sha:I be appl~ed by mortgagee toward the payment of real property taxes, insurance prem;ums, and mwtgage guaranty insurance ` , ~c~niUmi_ ~ IN ~~ITNESS '.':H~REOF, the said MORTGAGOR has hereunto set his hand and seal the da and year fir aforesaid. Signed, Sealed and de 'vered i the presente of: ~~y~~ `'V[~/ ~ (Sea4 Jose Mark ~ (Sea4 Faith Mark ~~s~ ~::.TE Of FLORIDA 1 ~~UNTY Of St. Lucie ; eefore me personally appeared John Joseph Ma rk Faith Mark h;s Mrife, to me well knovim and known to me to be ind~vid~als des<ribed in and who executed the foregarg instrument, and acknowledged before me' that they executed the same for the pu~poses rh- •ein exp~essed. And the said Faith Ma rk John Joseph Mark upon a se arate and ~vsta `e of the said - P P,~ ~.~m:~a':on by M1~e taken separate and apart from her sa7d husband, ackrawledged to and before me that she executed'said instrumerit,,fr~ely'and ~duo- .~~;:y and without any computsioo, co~straint, appreh nsi n, or fear of w from her said huioand. ' - WITNESS my hand and offiual seal this ~~t1 day of Au uSt 'YA. D. •1972• o-t _ . ~ Notary Public in and i the Stata=of'~~~i .'t 4arge . ~ My Commission expir . y~ A ~ ' : -~i~'•, • ~ Retum To: • - .r/ i ~ . r Fi:st Federal Savings 3 loan Assxiation . Of ~ort Pc:ce. Fort P~~~rce, Plor~da FILEO dRfl RECORDEO - SL LUCIE COUNTY FLA. ~ ROCEk ~fltTRAS CLERC C!'tCU17 COURT ~ RECORO VERIFtEO.,~.~~ This Instrument Prepared By John W. Collins First Federal Savings 8 Loan Association ~ 15 I 43 PH 1 ~ of Fort Pierce, Florida t i Checked By 23s~8s js ~a~K zv~ ~ss~ ~ : _ : r~ r ~ . ~ ~ _r. . _ . c ~ r'~'x's~' _ .