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HomeMy WebLinkAbout0035 3. To place and continuously keep on the bui!dings now or hereafler ~ituate on said land and on ali e~uipment and personally covered by this ma age, w~th all prenuums ~hereon pa:d ~n iull, fire insvrance in the usual standard po~icy form, in a sum approved by the MOR(GAGEE, and windsto insurance in 1he usual standard po~~ty forir, in a sum approved by the MORTGAGEE, in such company or compames as the A10RTGAGEE m d~recr, and all fire and w~ndstorm insurance po~~ues on any ot sa~d build~ngs, any interest Iherci~ or pa~t ~hereof, in the aggrega~e sum aforesaid in excess Ihereof, shall :ontain the usual standard mo~lgagee clause w such olher clause as the Mortgagee may requ~re, making tha Ioss under sa~d po c~es, each and every, payab~e to said h1pRTGAGEE as ~ts interest may appear, and each and every such pot~cy shall be promptly ass gned and de~ive~ed i any h~ld 6y sa~d A10R(GAGEE as (urther seturity to said mortgage debt, and, not less then ten (10) days in advance of the expirat~on of each policy, to d~ rver to sa~d MORiGAGEE a renewal thereof, toge~her wiih a rece~pt tor the premium o( such renewal; and there shatl be no i~re or windsto~m insu~anc pl;ced on a~y of sa;d build~ngs, any inreresl there~n or part Ihereof, unless in ihe torm and with the loss payahle as aforesaid; and in the event any sun ot money becomes payabte under such polity o~ policies said A10RTGAGEE shall have the option to recrive and app~y the same oo account of the indabted neas secwed hereby or to permit sa~d MORTGAGOkS Io reteive and use it w any part the:eof for o:h~r pur}_~oses, .v~tho~t ~h_.ru~ waiwn~ o~ u~ipd~r ing any equ~ry, iien w ri9ht u~dar or by virtue of this mo::gage; and in the event said MORTCsAGORS shalt for any rcason fail to keep the said premisrs so ~nsur~d, or fail to detiver pranptly any of said pol~cies of insurance to ~aid MORTGAGEE, or fait promptly Io pay fully any prem~um therefor or in a~y ~espea ia~l fo pe~form, d~scharge, e:ewte, effeU, completa, comply with and abide by th~s cove~ant, or any pa:f hereof, sa~d MORTGAGEE may place a~~d pay ior s~ch insur.~nce or any part thereof wiihout waiving or affecting any option, lien, equ~ty, or right under w by virtue ot ihis Mortgage, and the full amount of each and every such payment shall be immediately due and payable and shall brar imerest from tha date thereof until paid at the rate ot n~~~c pcr cantu:n per ennwn and to~ether with suth interest shali be sewred by the lien o( this mortgage. 4. To permi?, commit or suffer no waste, impairment w deterioration of said property or any pa~t thereof. 5. To pay all and singular the costs, cha~ges and expense:, including a reawnable attorney's fee and costs of abstracts of title, incurred or paid at any ti~r.c by sa~d MORiGAG:E, because or in the event of the fail~re on the part of the said MORTGAGOR to duty, prompNy and futly pe•form, d~xharge. :aecvte, e~iec~, complete, comply w~th and ab:de by each and every the stipulat~ons, agreements, conditions, and covenants oi said ~omissory note and this r.orrgage any or e~ther, and sa:d costs, charges and expenses, each and every, shall be immediately due and payable; whether a not there be notice d~ r~~;•,d, afte~npt to collect or suit peoding; and the full amouM oE each and every such paymeM shall bear ioterest f~an the date thereof until paid at the ~.r, o+ n~ne per cen:um per an~w:n; and all said costs, charges and expenses ~ncurred w paid, together w~th such interest, shall be secured by the lien of thi~ mortgage. b. That (a) in the event of any breach of this Mortgage or default on the part of the MORTGAGOR, or (b) in the event any of sa:d sums of money hcre~n referred to be ~ot pron,ptly and fully paid within Ih~rty (30) days nex~ after the same severa:ly become due and payable, withoul demand or notite, or (c).in thr even~ each and every Ihe sfipulations, agrEements, conditions and covenants of sa~d p:omissory note and th~s mortgage any or ei~her are not i~~Iy, promptly an~i fully performed, d:scharged, executed, effected, completed, complied with and abeded by, then in e~ther o? any such event the said ag ~-~~gate sum mentioned in said promissory note then remaining ~npaid, with interev aarued, and aIl moneys sxured hereby, shall become due and pay ~o a forthwith, or thereaiter, at the option of said MORTGAGEE, as fufly and completely as if all of the said sums oi money were originally st~putated ro be pa~d oo wch d~y, anything in sa:d promissory note or in this Mortgage to the cor~rrary notwithstanding; and thereupon or thereafter at the option of s.:i MORTGAGEE, withaut notice or demand, suit at law or in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby n_d matuted ~hOr to its instifutiOn. 7. That in the evrnt that at the beginning of or at any time pending a~y suit upon this Mortgage, or to fweclose it, or to reform it, or to enforte i.,,ment of any ciaims hereunder, said MORTGAGEE shall apply to the Court having jurisd~ction thereof for the appointmem of a Receiver, such Court shall .•~hwith appoiM a receive~ o~ said mortgaged property all and singular, irtdud~ng aIl and singuia~ the income, prolits, issues and revenues from whatever z-~~cce derived, each ar.d every of wh~ch, it be~n9 expressty understood, is hereby mortgaged as if speuficalfy set forth and deWibed in the 9~anting a~d , F,.,':~endvm c~avses hereof, and such Receiver shall have all the b~oad and effective funct.ons and powe~s in anywise emrusted by a Cou~t to a Receiver, and s.ch ~ppointme~~t shalt be made by such Court as an admitted equity and a maner of absolure righi~to •aaid MORTGAGEE, and without reference to the r:ieq~~~cy or inadeqvacy of the value of the property mo~~gaged or to the so~venq or insolvency o1 said MORiGAGOR or the dejendants, and that such r~_-~is, profits, inco.ne, ~ss~es and revenues shall be applied by such Receiver accorduig to the lien or equity of said MORiGAGEE and the practice of such Court. 8. To duly, prompt:y and fully perform, discharge, execute, effect, complete, comply w~th and abide by each and every the stipulations, agreements, co ~ditions and covenants m said promissory note and this mortgage set forth. 9. ihat in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the ~RTGAGEE, its s~ccessors and ass~gns, may, wi~hout notice to the MORTGAOR, deal with s~ch successor w successw in interest with reference to this , ortgage ar.d rhe d:u~ hereby secured in the same man~er as with Mortgagor wlthout in any way vitiating or •dischargirig the Mortgagors' liability here~ u~der or upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance an the part of the MORTGAGEE or its successws o~ assigns and r.o exrens~on of ihe ~ime fw the payment of the debt hereby secured given by the MORTGAGEE or its successors or assigns, a~iall operate ~o re!z.~se, d~ttha:ge, modify thange or affect the origina~ liability of the MORTGAGOR herein, either irt whole or in part. 10. It is speuf~:ally agreed that time is of the essence of this contract and that no waiver of any obfigation hereunder or of the obligation s~ c~red hereby shat~ at any time thereaiter be held to be a waiver of the terms hereof or of the instrument secured herby. 1 L In ~:Id:t~o : to the foreqo:ng momhly payments of princ'pal and interest required by the promisscry no!e setured hereby, mortgagor covenants ,~,o agrces to aay to n:o: ~qagee w~th each monthly pay~aent an add~iional sum esnn,ated by mortgagee to be equal to 1,' 12 of the annual cost of the follow- ~'J: A-All reaf property taxes levied or assessed agai~,st the above described real estate. 6 Fran:~::~:,s on fire and windstorm insuracce as herein requ~red to be tarricd on the improvements situate on the above d=5tribed premises. C-Pre~~~v~~~s o~ svch mortg;ge guaranty ir.surar,ce as mor~gagee soall from Nme to ti~ne dEem fit to carry on the loa~ secured hereby_ 1:5ortgagee sha l'rom time ro t~me notify martgagor in writing of the amount due and payable hereundrr and such sum shall thereupon be due and i ;,able on ~hr due dare of ~he next month!y paymem and each successive momh thereafter ~r,ti~ mortgagee shall ~otify mortgagor of a change in such ! ount. Sucn 5~~ms sF,a.t be applied by mortgagee toward ihe payment of real property taxes, insura prem.ums, a~d mortgage guaraNy iosurance i . •e«~ivms. ~ IN ~JITPJESS `.'JHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day nd r fir afore ~ S~g , Seated and delivered in the presence of: r' ~ Ceas ' s n Jr . ~~,p / ' (Sean Rosa Wilson ~~,q S~A7E OF FIORIDA ~ Lucie ~ ~ur~rv oF St • 1 Before me personally appeared Ju1111S Ceasar {Al11SOA~ Jr. a~ Rosa W11S011 his wife, to me well known and known to me to be r~, ~ indrvid~ats described in and who executed the foregoing instrument, and acknowledged before me that they executed the same for the purpenes ~herein expressed. And the said Rosa W 1150I1 ::;fe of the sa~d Ju11Si1 Ceasar W11S011~ .11. , ~ Kparate and private c•am~nat~on by me taRen separate and apart from her said husba~d, ackrawledged to and before me that she executed said instrument fr¢elr~and volun- ~ar~iy and w~thout any compulsion, constrainl, appre ens~on or fear of or from her wid husband. ~ Y~IiNESS my hand and official seal this day of U L1St A.~ D. 19 72 ~ ~ . ' ~ ~ , i . . ' ' • • / j otary Public in and fw State ~io.rid~•at .L`arge , rj My Commission expir . p~'.~ ' ~ ' _ ~ ; Return To: "s~i~~~ ~~1~~~ Ffrst Federe! Savin s 3 Loan Associat~on MY CdMMIS$tQN( fXp1~lE'S pE~. Of Fort P~erce. BendW TAh. {~enV~.ln~~n~ Foit Picrce, florida -4 / ' _ . fl EO ~N:• rEC;1RDE0 ~ ~ S~IUCI£ GOUlITY fl~• This Instrument Prepared By : Gary F. Ellwood ~pr,E~ =::'jR~~ First Federal Savings & Loan Association CL~~K G~-";~~j COURt of Fort Pierce~ Florida 33450 qFr,oc.,"~ vEF'~ Checked By ~ I 3 44 PK . 23'7353 BUOlc 2O6 PACE ~5 . ~ ! lh) _ ; - - - - - £ €y~ =z - '