The URL can be used to link to this page

Home My WebLink About0241 3. To p!ace and con~inuously keep on the bui:d~ngs now or hereafter s~luate on sa~d tand and on ali equ~pment and personaliy covered by this mor ege, w~~h all prem~ums thr~eon pa~d m full, fire insurence in ti~c uwal stai~dard po:~q torm, in a su~n aHpruved by the MOR~GAGEE, and w~~dsto insurante in tht usual standard pol:cy form, in a s~m approved by tha M.ORiGAGEE, in such company o~ companies ,as the htORTGAGFE m d~~ech and all iire and w~nJsterm insu~ance policies on any of said buiid~ngs, any in~eresl the~ein or pa~~ thereof, in Ihe agg~ega~e su~*~ aioresaid in exces~ thereof, shall :ontain the usual s~andard +nortgagee clause w wch other tlause as the Mo~~yagee may requ~re, making the ioss v~der sa~d po c~es, each and every, payab~e lo said h1pRTGAGEE as ~ts inierest may appear, and eath and every such po~~cy shall be promptly ass gned and delive~ed ~ any h~:Id by sald AlORIGAGEE as funher security ~o said morrgage debt, and, ~ot less than ~en (10? days in ad~ance of ~he e~ep~rat~on of each pol~cy, to d~ Gver to sa~d MORTGAGEE a renewal thereof, toge~her with a rece~pt for the premium of such renewal; and ~hrre shail be ~o i~re or windsto~m insuranc placed on any of sa~d bui!d+ngs, any interest Ihere~n or par~ ~hereof, unlesi in the form and with the toss payabte as aforesa;d; and in the event any sun of money becomes payable uncler such policy or poGcies said MORiGAGEE shall have the opt~on to reca~ve and app!y the same on account oi the indebted ness sewred hereby w to perm~t sa~d MORTGAGORS fo reeeive and use it w any part the:eof tor oti,cr pw~ osers, vi~ihout ~h~.cu~ .v.:iv~.ig c~ nnpau ing any equ~ty, lien w r~ght under or by vittue of this mo:tgage; and in the event said MORTGAGORS sha!I :or any reason fail to keep ~he said premises so ir,surcd, or fail to deliver promptly any of said poGties of insurance to said MORTGAGEE, or f~i1 promptly to pay fully any prem~wn thcrefor or en a~y respect fail to perform, d~scharge, exewte, e(fect, compiete, cornply with and abide by this covenaro, o~ any part hrreof, said MORTGAGEE may piace a~~d pay for such ins~rance or any pa~t thereof without waiving or affecting any oplion, lien, equ~ty, or riyht und~r or by vi~tue of thia Mortgage, and tha f~ll amount of each and every such payment shall be im~nediately due and payable a~d shall bear interest lrom tFw date tnereof until paid at the rate of ~dne per centum per ar.n~m and to~elha~ with such interesl shaif be sccured by the lieo of this mortgage. d. To permit, commit or suffer no waste, impairment or deterioration of said property w any part thereof, 5. To pay all and singutar the costs, chargrs and ezpenses, including a reasonable attorney's fee and cosrs of abstracts of title, inc~r.ed or paid at an~ ti+r.c by sa~d MCRTGAGEE, beca~se w in the event of the failure on the part of ~he said MORTGAGOR to duly, p~omptly and futly pe?form, d~uharge, ax~-cute, effeU, complete, comply w~~h and ab:de by each and every the stipula~~ons, agree~~ems, cond~tions, and covenaNS of said promissory note and this n,crrgage any or either, and sa:d costs, charges and expenses, each and eve~y, shatl be immediately due and payabte; whe~her w not ~here be notice da n,and, atte~npt to collect or s~it pend~ng; and the full amount of each and e~ery such payme~t shall bear interest from ~he date thereot until paid al the r, ae oF n~ne per can:um F,..r an~+um; anc a~l said coats, charges and expenses incurred or paid, together w~th suth imerest, shall be setured by the lien oi this mortgage. 6. That (a) in the even~ of any breach of Ihis Mortgage or default on the part of the MORTGAGOR, or (b) i~ the event any of sa:d sums of money herein referred to be not prompNy and fuily paid within Ih~rty (30) days aext after the same severa!ty become due and payable, without demand or no!ice, or (c) in the evem each and every the stipulations, agreements, cood~tions and covenants of sa,d promissory note and th+s mortgage any or either are not ~uly, p~omptty and iutly per(o:med, d:scha~ged, executed, eifeded, compkted, complled with and ab~ded Sy, then in e~ther or any such eveM the sa~d ag- gregate wm mentioned in said promissory noie then remaining unpaid, with interest accrued, and att moneys secured hereby, shall become due and pay-' ab:e forthwith, or thereaf~cr, at the option of sa~d MORiGAGEE, as fully and completely as if a~l of the said sums of money were or~ginally supulated ro be pa:d on such dsy, anything in sa:d prom[ssory note or in this Mortgage to the tomrary notwithstanding; and thereupon or thereaftet at the option of s:~~d MORTGAGEE, without not~ce or demand, suit at law or in equity, therefore or thereatrer begun, may be prosecuted as if all moneys secured hereby r.._d matured pr~or to its insGt~tion. 7. That in the event that at the beginning of or at any time pending any suit upon this Mortgage, or to foreclose it, or to reform it, or to enforce paymem of any ciaims hereundrr, said MORTGAGEE shafl apply to the Court having ;ur~sd:c~~on thereot for Ihe ap~o~ntment of a Receiver, such Court shall Fc~chwith appoint a receiver of said mortgaged property all and singular, includ~ng aU and singular the income, profits; issues and revenues irom whatever s; urce drrived, each and every of wh~ch, it being express!y understood, is hereby mongaged as ~f spec~~ically set io~th and described in the granting and t:36endvm davses hereof, and wch Rtteiver shatl have aU the broad and effect~ve funct:ons and powers in anyw~se emrusted by a Cou~t to a Receiver, and s ch appointmcnt shall be made by such Co~rt as an admitted equity and a maner oi absolute r~ght to said MORTGAGEE, and without re(erence to the r:iequacy o~ inadrquacy of the val~e of the property mortgaged o~ to the so~vency or insolvency of said MORiGAGOR or the defendants, and that such r•,•,~s,, profits, inco.ne, issues and revenues shaN be applied by such Receiver accord~ng to the lien or equity of :aid MORTGAGEE and ~he practice of such Court. 8. To duly, promptly and fully perform, discharge, ezecute, effect, complete, comply with and abide by each and every the stipulations, agreements, ~onditions and covenants ~n said promissory note and this mortgage set forih. 9. That in the event the ownership of the mortgaged premises, or any part thereof, 6ecomes vested in a pe~wn other than the MORTGAGOR, the 'ti ~RTGAG~E, its successors and ass~gns, may, without notice to the MORTGAOR, deal with such succeuor or successor in interest with reference to this o~tgage and the d_ut hereby secured in the same manner as with Mortgagor without in any way vit;ating or d~xharging the Mortgagors' Iiability here- ~:nder or upon the debt hereby sec~red. No sale of the Fremises hereby mortgaged and no forbearance on the part of the /AORTGAGEE or its successo~s e~ ass~g~s and no extension of rhe t~me ior the payment of the debt hereby sxured given by Ihe MORTGAGEE or its successors or ass~gns, ahall operate ro release, d~scharge, mod~fy change or affect the orig~nal liaoility of the MORiGAGOR herein, either in whole or in part. 10_ It is spec~fically agreed that ti~ne is of the essence of this contract and that no waiver of any obligation hereunder or of the obligatan s~ cu:ed hereby shall at anp time ~hereafrer be held to be a waiver of the terms hereof or of tbe instrumem secured herby. 11. In acSd t:c~ to the forego':~g month!y paym~nts of princ'pal and interest required by the p~om~sscry ~o!e secured hereby, mortgagor covenants d agrces to ~ay to mortgag~-e v~ith each monthiy payn:ent an add~rional sum est~mated by ~ortyagee to be equai to 1, 12 oi the annual cost of the follow- ' A-AIf real property raxas le•~~ad or assessed agai~st thc above described real estate. B-Pra:,:~u:ns on f,re and ~vindstorm insurar.ce as herein requ:red fo be carried on the improvements siwate on the above described premises. C-Premi~~r~s on s~ch mortgage 9uaranty ir.surar~ce as mortyagee shall from t•me to time deem fit to carry on the loan secured hereby. ~ 65orrgagee sha~i from Y~ne to t~me notify mcrtgagor ~n writing of the amount due and payabte hereundrr and such surn shall thereupon be due and ~ : arable on the c!~-r da+e ef ~he next month:y paymem and each successive month thereafter until mortgagee shall not;fy mortgagor of a change in such ~ _-.^unt. Such sums s~ a:l be app!ied by mortgagee toward the paymem of real property taxes, iosurance prem:ums, and mortgage guaranty insurance i :~~~emiums. ~ IN `s'+itFiE~S '::HEREv~, the sa~d ~OR7G~.GOR has nereu~fo set his h~rd ar.d xoi ttie dey and~ year firsf a/~~ r~sa'~ Signed, Sealed and deliver m the presence of: i l' ~ ~ 1 al) - (Sean ~ (SeaO Ma . She e ~~aq SiA1E OF ftORIDA S5. ~OUNTY OP St. Lucia 1 Before me personally appeared JO~1T1 L. Shephe2`d a~ _ ~'MV T.~ Shenherd his wife, to me well known and k~own fp me_TO be thc individuals described i~ and who ezecuted the foregoing inshument, and acknowledged before me that they executed the ~art~P, for t~e~~}rrposes 7~~~ L. Shepherd _ ~ th~rein expressed. And the said- +'Q~i ~ .Tohn L. Shepherd ~o~,,a•-~~ v~ - ^ :,;fe of the said - ` e.aminat~on by me taken separete and apart from her said husband, stknowledged to aod before me that she ezecuted said ilfs~l~~l~yr~lMS~~'~? _-~ly and w~thout any computsion, constraint, apprehenfyob, or fear of or from her said husband. : E.~ r ..i ~ i~3 t WITNESS my hand and officual seal this ~ day of ~ ~ ~ L`'~ ~°~~D.~Siii~~ _ ~ ~ ~ Notary Public in a for ihe Siate of 4{p d~ et i-_4 ' ~ .~'~'~T~~ a~' , My Comm~ssion e~a¢ires: , ` ~ ' r+ - _ Retum To: ~ - ~ . 7 5 . ~ First Federal Savings b loan Associat~on ~ Of Fort P eree. Forr P~erce, 1lor~da ~ a-coROEb ` ~ F1lED A'?'~. ~ ~tA• St. ~u~~i .,~~~~Ktr RO•,C~ ?~)iiaAS T ,~(c This Instrumenf Prepared By Kenneth G. FO1tZ ~~fR~ 1. ~~',~i~ First Federal Savings & Loan Association pf~~~~~ = ~ of Fort Pierce ~ Florida ~ ~ Og Y~ ~~Z Checked By ~ 23'7445 . ; RUGx~vU PA~f ~S , ~ - > ~ - , _ - - - _ . . : ~.a . r ~ ~ " ~ -