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HomeMy WebLinkAbout0041 i " ~ 3. To place and conrinuou:ly keep on the twi!dings now o~ herea(ter s~tuate on said land and on ali equip~nent and persona!ly cove~ed by this mo? age, w~rh all pren~iums ~he~eon pa~d in f~ll, fire insurance in tha us~al stan~ard polity form, in a sum approved by thc MORiGAGff, and windsto :nsura~ce in Iha uwat standard pol.cy form, in a sum approved by tha MORTGAGEE, in such company or companies as the MORTGAGEE m s d:rect; and all iire and w~ndstorm insurance policies on any of said buildmgs, any interest therein or part the~eof, in Ihe agg~egate sum afo~elaid in eztess thrrcof, shall :ontain ~he usual standard morr9agee :tause o? such othe~ tlause as fhe Mortgagee may require, making the loss under sa~d po ~ c~es, each and every, payubte to sa~d MORTGAGEE as ~~s interesl may appear, and each and e~ery such po!1cy shall be promptiy assgned and de~ivered ~ ~ an~ held by sa~d h10RiGAGEE as further security to aaid mortgage deb~, and, not less 1ha~ ten (10) days in advance of the expiration of each poticy, to d~ t,ver ~o said MORiGAGEE a re~ewal the~eof, togerhe~ with a receipt for the premium of such renewal; and there shall be no f~re o~ windstor~n insuranc } placed on any of said build~ngs, any interest lhere~n or par~ thereof, unless in the form and with Ihe loss payable as aioresaid; and in the event any sun ~ of money becomes payable ~nder such policy or policies said MORTGAGEf shall have the option to receive a~~d apply the same on actount of the indebted ~ ~:~ss secvr¢d hereby or to perm~t said MORTGAGORS ro reeeive and use it or any part thereof for oti,cr purrwses, ~v~tho~t the•to~ .ti.:ivi.~3 ~r ~mpair , ~ng any equ~ty, lien or ri9h1 under or by virtue of this mo:tgage; and in the event sa~d MORTGAGORS shall for any reason fail to keep the said premises so ~ ~nsvrad, or fail fo de6vcr promptly any o) said poGcies of insuran~e to said MORTGAGEE, or fai! promptly to pay fully any pre+»ium therefor or in any ~ respect fail to pe.form, d~scharge, ezecute, e(fec1, comptete, comply wi~h and abide by this covenant, or any par? hareof, said MGRTGAGEE may place and ? pay for such insurance or any parl thereof without waiving or aftecting any aption, lien, equAy, or ~igh~ under or by vir?ue of this Morlga~e, and the f~ll amount of each and every wch payment shall be immediately due and payable and shall bear interest from the date thereof ~ntil paid at the ~ate of •~~ne pei cen~wn per annum and to~ether with such interest shaii be srcured by the lien of Ihis mortgage. 4. To permi~, commit or suffer no waste, impairment or deterioration oi sa~d property or any part the~eof. 5. To Fay all and singutar the costs, charges and expenses, including a reazortable attwney's fee and costs ef abstracts of title, incurred or paid at ,ny tirr.e by said MORTGAG.E, Uecause or in the evtnt of the iailure on ~he par~ of the said MORTGAGOR to duty. p~omptly and fully perform, d~scharge. _.ccute, efftct, complete, co~nply wuh and ab:de by each and every Ihe stipulahons, agreements, conditions, and covenants of said p+omissory note and this ~,ortgage any o~ e~ther, and sa~d costs, charges and expenses, each and every, shalF be immediately due and payable; whether w not there be notice d~ r and, anempt to collect or suit pend~ng; and the full amount of each and every such paymeN shall bear interest from ~he date thereof unti~ paid a/ the ~.•r~ o+ nine per cantum pcr annu:n; and alt said cosrs, cha~ges and.expenses encuned or paid, together w~th such imerest, shall be secured by the lien of thia mor tg age. 6. That (a) in the event of any breach of this Mortgage or default on tF~ part of the MORTGAGOR, or (b) in the event any of sa:d sums of money ',erein referred to be ~ot promptty and fuliy paid within th~rry (30) days ~ext aite+ the same seve~a;ty become due and payable, without demand or notice, ~r ~~j in thr event each artd every the stipu~ations, agreements, conditions and covenants of sa:d promissory note and th~s mortgage any or either are not ~ i;,Iy, promptly and fuNy performed, d~scharged, eaecuted, efiected, completed, complied with and abided Sy, then in either or aay such event the said ag i ?~cgate sum mentioned in said promissory note then remaining unpaid, with interest atcrued, and a~l moneys secured hereby, shaJl become due and pay- ~ e forth~vith, oi ~hereafter, at the option of said MORTGAGEE, as fully and complete~y as if all of the said sums of mo~ey were aiginally stipulated 'o be pa d on s~ch d~y, any:hing in sa:d prom~sswy note or in this Mortgage to the connary notwithstandi~ig; and thereupon or thereafte? at the option of s_i MORTGAGEE, without rotice or demand, suit at law or in equity, thereiore or thereaiter begun, may be prosecuted as if all moneys secured hereby n..~ matvrEd pnor to ~ts institut~on. 7. That ;n the event rhat at the beginntng oi or at any time pending any suit upon th~s Mortgage, or ro faeclose it, or to reform it, o~ to enf~rce ;.i,ment of any da~ms hereunder, said MORTGAGEE shail appfy to the Court having ~urisd~dion thereof ior Ihe appo~ntment of a Receiver, such Court shall •n,virh appoiN a receiver of said mortgaged property all and singular, indud~ng all and singular the irtcome, proiits, issues and revenues from whatever s. :rce c'arired. each and eve~y of whlch, ir being expressly understood, is hereby mongaged as if speu~ical!y set fo~th and destsibed in the granting and ~:i>end~m c'a~ses hereof, and such Receiver shalf have all fhe broad and effect~ve funct~ons and powers in anywise entrusted by a Cou~t to a Receiver, and s. .h appeinr~n~nt shall be made by such Court as an admitted equity and a marter of absolure right to said MORTGAGEE, a~d without reference 10 1he ad;,~v;cy or inadequacy of the value of the property mortgaged or to the solvency or insolvency o4 said h1pRTGAGOR a the defendams, and that such • ~s. profits, inco.ne, issues end revenues sha{I be applied by such Receiver according to the lien er equity of said MORTGAGEE and the prectice of such Cou~t. 8. To duty, promptly and ful~y perfwm, discharge, execute, effect, complete, comply w~th and abide by each a~d every the stipulations, agreements, :,dinons and covenams in sa~d promissory nate and this mortgage set for?h. j 9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the :"JRTGAGfF, its successors and ass~gns, may, without norice to the MORTGAOR, deal with such successor or successw in interest wi~h reference to this i o•rgage ard the debt hereby secured in the same manner as with Mortgagor with~ut in any way vitiating or d~scharg~ng the Mortgagori liabifity here~ de~ or upon ~he debt hereby secured. No sate ot the Fremises hereby mortgaged and no forbearan~e on the part of the MORiGAGEE or its successors o• as<t~„s and no errension of the time for the paymem of the debt hereby secured given by the MORTGAGEE or i1s suttessors or assigns, a~~all operate ro re~zase, d~scharge, modify change or affect the orig~nal IiabiGty of the NtORTGAGOR I~erein, either in whole or in part. 10. It is specificaliy. agreed ~hat time is of the essgnce of rhis contract and that no waiver of any obligation here~nder or of the obligaYwn se- cured here6y shai~ at any time thereafter be held to be a waiver of the terms hereof or of the instrument secured herby. 11. In sud.t:o~ ro the forego'ng month~y paym_nts of princ'pal and interest requ~red by the prom~ssory no!e secured hereby, mortgagor covenants d agrees ~o ray to mo-tgagee vcith each monthiy pay~ :ent an add~iionat sum estimared by morrgagee to be equa! to l~ 12 of rhe an»ual cost of the follow- A-Ail rfa! p:operty taxas levied or assessed agai•ist thc above descri5ed reat estate. ~ 6 Pr,~r.~,,.:.z on f;re and windstorm insurance as herein requ~red to be carried on the ~mproveme~ts rtuate on the above described premises. C-Pre~n;u:~ s on such mortc~~ge guaranty ir.surar:ce as mortgagee shatl from time to time deem fit to carry on the loan secwed he+eby. r~orrgagee sti~ ! frcm te~ne to iim.e not;fy mortgagor in wriring of the amount d~e and payable hereundrr and such surn shatl thereupon be due and ~ .=..,b!r on th~~ cl~e date o' ihe next ~ionth;y payment and eath successive month thereafter until mortgagee shall notify mortgagor of a change in such ~,;nt. Such sums <Ha:( Le apFdied by morigagee toward the ptyment of real property taxes, insurance prem;ums, and mongage guaranty insurante v niums. IN V~ITD~ESS ':JHERcOF, the said MORTGAGpR has hereunto set his hand and seal the day and year first aforesaid. ~ e ed an ditivered in the presence f: t TI ? U..L "G~/" ~ y!Li~ _(Seal) - ter G. Vella {s~an t •(5eaq Witness Mar a t C. Vel a i~ (Seaq ;":.TE Of FLORIDA { 1 CJUNTY OF w(~LI~ARD ; ~ Before me personally appeared Peter G. Ve21a a~ _ Margaret C. VE~.~B his wife, to me well known and k~own to me ?o be ri._ ir.dividuals described in and who executed the foregoing instrument, and acknowiedged before me that they executed the wme ~for ~he purposes rherein expressed. And the said_ ~rUaltt C. Vella ~ Vella ::'`e of fhe sa~d peter G. uFon'e sepa.are and ~iv~tA ~~~~m~nat~on by me taken separate and apart from her said husband, acknowfedged to and before me that she executed said-instrument freely arid vofurr ~,;y and without any compulsion, constraim, apprehensio~ear of or from her said husband. ' WITNESS my hand and official seal this_ day of A U t ~ ~ q. p~q ~ Notary PubGc in and fo? the Stit~ 6f ~Fbrida at large ~ My Commission expires: ' ~ Return 70: NJTARY PUBLIC. STATE of FtORIDA at [ARGE ' ~ First Federal Savings S loan Ass«iation MY COMldISSlOti EXPIRES ~.1AR. 19, :974 ~ OI FO~f P t:C2. ~ YOHDED THROU6H Fq~D W. DIESTElHORST Fort Pi•:rce. Flenda ' fILEO Ahn WCCn~pEO This Instrument Prepared By : J. H. Roberts~ Jt. $T.IUC~C COUNTIf FLA. First Federal Savings 8~ Loan Association RdC£f: . ~~TRAS ~ of Fort Pierce ~ Florida 33450 RECOR~ V~~~~ jEp ~OUNT r: ' Checked By~-!~ 3 45 PM o R ~n ~41 2~~3ss ~ 800K ~U6 PAGE ~ ~ ~ - - . = _ - - ~ I h =~.z~.~ _ „ i ~cuA -a r. _ . - :