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Home My WebLink About0239 3. To p:ace and continuously keep on the bui'dings now or he~eafter ~ituaro on sa~d land and on al{ equipment and personally cove~ed by this mo~ age, w:th al~ premi~~ns ~hrrcon pa!d in fu!1, lire ins~rance in the uwal standard pollty form, in a sum approved hy the MORiG~GEE, and w~~dsto ~nsurance in the usual s~,~ndard pol;cy fo~m, in a wm app~oved by ~he MORTGAGEE, in such company or companies as the AIIORTGAGEE m d~recr, and aU fhe ar,d w~nJs~o~m insurance polic~es on any of sa~d build~ngs, any intereat ~he~ein or pm~ thereof, in the aggrega~e sum aforesaid in excess ~hereof, shall contain ihe usval standaid mortgagee ciause or wch other clause as the Mortgagee may requ~re, making the loss under sa~d po c~es, each and eve~y, payab!e to said AIORTGAGEE as its iNerrst may appear, and each and every such po~ic~ shall be prompNy ass gned and delivered ~ any held by said 1dORIGAGEE as funher security to said monyage debt, and, oot !ess than ten (10) days in ad+ra~ue of the expiration of each pol~ty, to d~ t,~er ~o sa~d MORIGAGEE a renewal the?eof, toge~her wi~h a rece~pt for the prem~um of such renewal; and ~here shall be no f~re or windstorm insuranc pl;~ed on any o1 said bui!dings, any interest there:n or part 1he~eof, un!esa in the (orm and with the ~oss payable as a{oresaid; a~d in the event any sun of money beco~nes payable ~nder such policy w policies said MORTGAGEE ahall have the opt~on to receive and app'.y the same o~ account of the indabted ~~~•ss secured h,;r~by or to perm~t aa~d MOR~GAGORS to reeeive and use it or any part the:eof for ori,rr pu~~ osrs, ~.~~hout ih.r~ u~ wai~~n9 er ~n~p~i~ ~ng any equ~ty, I~en or righf under a by virtue of this mc:'gage; and in Ihe even~ said MORTGAGORS shall `,or any reason fail to keep fhe said premises so ~niu~ed, or fail to deliver promptly any of said pol~ties of insurante to sa~d MORiGAGEE, or f~i~ prompNy to pay fully any premium thcrelor or in a~y respea fail to perform, d~scha~ge, exe.ute, effect, complete, tomply with and abide by this covenant, or any part hareoi, sa~d MGRivAGEE may place a~~d pay fo. such insur.;nce or any pait thereof wiihovt waiving or aifecting any option, lien, equ~ty, or rig6t under or by virtue of this Mo~tgage, and the f~!I amount of each and every such paymero shall be immediately due and payable and shall bear interest from the date thereof until paid at the rate ol ~~.~,e per ccn~wn per ann~m and to~~thar with such int~res? shai~ be sewred by the ~ien of this mortgage. 4. To permit, commit or suffer no waste, impairment or deterioration of said property o~ any part thereof. 5. To pay all and s~ngular the costs, charges and expenses, inctuding a reasonable at~o.ney's fee and costs of abstracts of title, incurred or paid at ~ny rin,e by sa~d MORIGAG:E, because or in the event o1 the failure on the part of tbe said MORTGAGOR to duly, prom?tly and fully perfo~m, discharge. _.~:ure, elfect, co~nptete, co~nply w~th and ab:de by each and every the stipulat~ons, agreeme~ts, conditio~s, and covenants of said p~omissory note and this a~ortgage any or e~iher, and sa:d costs, charges and expenses, each and every, shall be immediatety due aod ~ayable; whether or not fhero be notrce de- ~~:;,nd. atte~npt to to:tecl or suit pe~d~ng; and the full amoum of each and every suth payment shall bear interest from the date thereof until paid at the e~ n~ne uer centum p~~r annu:n; and all said costs, charges and expenses incurred or paid, together ~wth such interest, shall be secured by the lien of this m Or t939@. 6. TF.at (a) in the event of any b~each of this Mortgage or default on the part of the MO~iGAGOR, or (b) in the event any of sa:d sums of money i•,•rein referred to be not promptly and fully paid within th:rty (30f days nex~ after the same seve~aily become due and payable, without demand or notice, ~r ;c) in thr event each and every the stiputations, agreements, conditions a~d covenants of sa,d promissory ~ote and th~s mortgage any or either are not iv:y, prom.priy and fully performed, d,stharged, eaecuted, effected, completed, complied with ar.d abided 5y, then in either w any such eveM the said ag ~r~•y~!e sum ment~o~ied in said promissory note Ihen remaining unpaid, with interest accrued, and ail moneys secured hereby, shall betome due and pay- e~ e forthw~th, or thereafrer, at the op!ion of said MORTGAGEE, as fully and complete~y as if all of the said sums of money were o~iginally st~pulated r~ bc pa:d on such d~y, anything in sa:d promissory note or in this Mortgage to the contrary notvlithstanding; and thereupon or thereafter at the option of >~.:f h10QTGAGEE, w~thout not~ce or demand, suit at law or in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby • r:..d meturc~ pnOr f0 ~ti institulion. 7. Thot in the event that at the be9inning of or at any fime pending any suit upon this Mortgage, or to foreclose it, or to reform it, o~ to enforce i a;-nem of any clain,s hereunder, said MORTGAGEE shall aFply to the Court having jurisd:ction thereof for the appo~ntment of a Receiver, such Court shail ,.=rhwirh appo~nt a rece~ver of said mortgaged property all and singular, irtclud:r.~ all and singuEar the income, prof~ts, issues and revenues from whatever u•ce de~i•~ed, each and every of wh~ch, it being expressty unders~ood, is hereby mortgaged as if speufically set fath and descrit~ed in the grenting and er.cium rauses hereoi, and such Receiver shall have alf the broad and eff~t;ve funct,ons and powers in anywise emrusted by a Court to a Receiver, and ~_h appointment shali be mrde by such Cou~t as an admitted equity and a matter of absolute right to said MORTGAGEE, a~d withoul reference to the : y~_cy or inadequacy o~ the value of the property mortgaged or to the save~cy or inso~venty of said MORiGAGOR or the de#endants, and that such . rs, prof~rs, inco.ne, issues and revenues shall be applied 6y such Receive~ accord~ng to the lien or equity of said MORTGAGEE- and the practice of such Court. B. To du1y, promprly and fully perform, d~scharge, execute, effect, complete, comply w+th and ab;de by each and every the stipulations, agreements, :~nditions and covenants +n sa~d promissory note and this mortgage set fwth. - 9. That in the event the ownership of the mortgaged premises, w any part thereof, becomes vested ip a person other than the MORTGAGOR, the 'RTGAGEE, its wccessors and assigns, may, wi~hout notice to the MORTGAOR, deal with such successor or successor in interest with refe~ence to this ~•rgage or.d the d_bt hereby 'secured in the same ma~ner as with Mortgagor without in any way vitiating oc d~scharging the Mortgagors' liabitity here- :i;:r o: upon the debt hereby secu~ed. No sale of the Fremfses hereby mortgaged and no (orbearance on the part of the MORTGAGEE or its successws or ass:gns and no exrens~on of the time for the paymeM of the debt hereby secured given by the f180RTGAGEE or its successors or auigns, a~~all operate ro re~e~se, d~scharge, modify change or affect the original liab~fity of the MORTGAGOR he~ein, either in whole or in part. 10. It is speu~~caily agreed that time is of the essence of this contraU and that no waiver of any obligation hereunder or of the obligation se- cu~ed hereby shai~ at any time thereafter be held to be a wai+er of the terms hereof w of the instrumeN secured herby. ! l. !n .~:id.tio:~ to the forego ng monthly paym_nts of pri~c'pai artd interest required by the prom~sscry no!e sec~red hereby, mortgagor eovenants ~ i agr_cs ro ray to mor+gagee vyith each monthly payr~ient an add~~~onaf sum est~mated by mortgagee to be equal to 1;' 12 oi the annual tost of the follow- , A-AN real property t3xas le•ri~d or aszesscd agai~st thc above described « al estate. ' 6 F~_ ~.:u ,~s on f~re and wvndsrorm insurarce as here~n requ~red to be carried on the improveme~ts s~tvate on the above destribed premises. C-Pre•-~~~~:• s o~ such mortg;ge gua~anty ir.sura.:ce as mo~tgagee shall from t~me to time deem tit to carry on the ban secured hereby. ~i N~ortgagee s%~, I fro•n t~me to t~me norify mortgagor in wriN~g of the amovnt due and payable hereunder and such sum sha(I thereupon be due and ! .,:;b~e on tha clue d~~re oi rhe next month!y payment and each successive monrh thereafter urnil mortgagee shalt notify mortgagor of a change in such E ~unt. Such s~ ns s! ~;i be applied by mortgagee taward the payment of real property taxes, insurante prem:ums, and mottgage guatanty insurance ~ _ . I . . • • . - . - - ~--d a. ..a r..~ 1~~1 ~t~iliVtJJ .'rticwLVi, It.r ao~u i..vw.Vr~~vn i..iS f.~.~~:.i::v x. .r ~ f ~ . ~ Signed, Sealed and delivered in the presence of: / ~ r Seaq ~ rbert A. Yo n c~aq ~ ~ ~ Baxbara You «an _ _ tSeaq S'aTE OF FLORIDA 1 } ~ ~OU'JTY OF St . LII~jB 1 ~ Before me personally appeared Herbert A. YOL1Tlq and _ Barbara Young his wife, to me well known and known to me to be ~~.e ind~viduats oescribed in and wha executed the fwegoing instrumeM, and acknowledged before me that they exrcuted the same for the purposes !^,erein expressrd. And the :a~a_ Barbara Youna r:.~e of the ~a:~ Herbert A. Yonng , upon a separate and p?ivste .~.+m~nat~ort by me taken separate and apart from her said husband, atknowledged to and beiore me that she execuTed said instrument fteAt~/ and vO~un- ~~':y and v~~thour any compu~sion, constraint, apprehIe~nsion, or fear of or from her said husband. ~l~~t, WITNESS my hand and official seal this-QCs~• day of Au uSt ',/1,;~,`i9~'~; . . , ; . ~ tary Public in and for the Stat f~I • t ='.J'•; ~ Commission expires: • ' • ~ V ' ~ ~ Return (o: r."y f!i$~f~. S~RT~~t C~6~ ~ First Federal Savings a Loan Association "I ~7'~'.4 a~iLri• ~r~~f-0- 23~ ~ Of iori P.rrc> 'r ue0 fn~u Gary••~~~ir.•,.u. ~-Ur.;iqf..wte~ ~ Fort P:~ rce. F~or;da 1/1,~ ••'~~ti.\. - ~S • ~ ' ~ ~ . A~o RfcuROEe r<~ , ~ . ~ FILED ~;;N'Itt~`•''t` . 8T. WCiE COUti1Y FLA. ~ ROa~::;LV T COUaT l ~?saws. ~ This Instrument Prepared By Kentleth G. Foltz CIE~K ~ First Federa! Savings 8~ Loan Association RECCP~'~' ~EO ~ of Fort Pierce ~ Flozida ~ S~ 5 3 09 PM 12 Checked By _I~'--_ ~ aooK2U6 ~A~E 238 23'7~44 dz ~ _ - - - _ - ~ - - " ~ < - -