HomeMy WebLinkAbout0508 3. To p~ace and continuously keep on the bu~!dings now o~ hereaiter ~ituate on sa~d land and on a~t equip~nent and personally covered by ~his mor
. age, with all premiums ~hereon pa~d in full, (~re insurance in the usual standard poti~y form, in a sum approved by the MORiGAGEE, and windsto
~nsu~ance in ~ha usual standard pol,cy form, in a sum app~oved by the MORTGAGEE, in such company or companies as ihe MORTGAGEE m
d~recr, and all fi~e and windstorm insurance pol~cies on any of said build~ngs, any interes~ therein o? part thereof, in the aggrega~e sum aforesaid
in excess ~hereof, shall conrain the usual s~andard mongagee cfause w such orher clause as fha Mortgaqee may requ:rs, making Ihe foss u~der sa~d po
c~es, each and every, payab~e to said A~ORTGAGEE a~ ~ts inleras~ may appear, and each and every such poircy shall be promptly ass gned and detive~ed ~
any held by sa~d tdOR(GAGEE as (unher security to sa~d mwigage debt, and, not less than ten (I01 days in advance ot the expirat~on of each policy, to d. ;
l~ver to said h10RTGAGEE a renewal thereof, toge~her with a rece~pl far the premium of such renewat; and there shall be no f~re or windstorm insuranc
p~aced on any of sa~d buildings, any interest Iherein or part ~hereof, unless in the form and wiih the loss payabte as aforesaid; a~d in Ihe event any sun ~
of money becomes payabte under s~ch pol~cy or poficies said MORTGRGEE shall have rhe opt~on to aece~ve and apply the wme on account oi the indrbted ~
ness secvreJ hereby or to permil said MORTGAGORS to reeeive and uss it or any pa~1 thereof ior o;ner pur~~~ses, vi:~hout th~r. o~ .v~ivi:~~ or unp~ir
:~g any equ~ty, lien or right und~r or by virtue of this mo:•qage; and in the event sa~d MORTGAGORS shall for any reason fail fo kcep ihe said p~amisrs so
insured, or faii to del:ver prwi~ptly any of said polities of insutante to said MORTGAGEE, o~ fai{ p:omptly to pay fully any pre~»ivm therefor or in d~y
respen fa11 to perform, d~scharge, execute, eflect, complete, comply with and ab~de by this cove~ant, w any pait hereof, said MORTGAGEE may place and
pay for such i~surance or any part thereof w~thout waiving or affecting any option, lie~, equ~~y, o? r;ghf unoer w by virtue of ih~s Mortgage, and the
full amount of each and e.ery such paymem shall be immediatety dve and payable and shall bear interest from the date thereof until paid at the rate o1
n~ne per crntum per annum and to~ether ~n•ith such interest shali be srtured by the lien of this mottgage.
4. To permit, commit or suifer no waste, impairment w deterioration of said property q any part the~eof.
5. To pay at1 and singular the cous, charges and expe~ses, includ~ng a~easonable attorney'a fee and costs of abst~ads of tit~e, incurred or paid a~
,ny ume by sa~d MORiGAG:E, becAuse w in the evero of the fa~lure oo the part o! the said MORTGAGOR to duly, prompNy and fully perform, d~xharge.
e:cc~te, eHec~, compleee, comply w~ih and ab:de by each and every the stipulat~oos, agreements, cond7rions, aad covertanrs of said prom;ssory note and th~s
*~orfgage any or e~~her, a,~d sa~d costs, charges and expenses, each and every, shall be immediately due and payable; whether w not there be not;ce de
n,and, attempt to col{~t or suit pending; end the full amount of each and every such payme~t shall bear interesf from the date thereoi until paid at the
r r~ o~ nine oer centum per aniwm; and atl said costs, tharpes and ex;xnses inturred w paid, together w~th such interest, shall be secured by the lien of this
mortgage.
6. ihat (a) in the event of any breach of this Mortgage or default on the part of the MORiGAGOR, or (b) in fhe event any of said sums of money
F,erein referred to be not promptty and fufly paid wirhin thirty (3Q) days ne,t a'rer the same seve~a:ly become due and payable, wiihout demand or notice,
or ~c) in thr event eacA and eve~y the stipulations, agreeme~ts, conditions and tovenants of sa;d promissory note and th~s mor?gage any a e~ther are not
i,,ty, p~omptiy and fu11y performed, d:scharged, executed, effected, completed, compGed with and ab~ded Sy, then in e+:her or any svch evenl the said ag
~t~,=3a±e sum menreoned in said promissory note then remaining unpaid, with inte~est accrued, and att moneys sewred hereby, sha11 become due and pay
~o.e forthwith, o+ thereaiter, at the option of said MORTGAGEE, as fu~ly and comple~e~y as if all of ~he said sums of mo~ey were w~ginatly stiputated
!o be pa:d on wch day, anything in sa:d prorn~sswy note or irt this 111o.tgage to fhe contrary notwithstanding; and ~hereupon or thereafter at the opuon of
s;.d MORTGAGEE, wrthout not~ce or demand, suit af law w in equity, therefwe oi~lt?erepflip~lbe~n,,Jpay, be prosecuted as if all moneys secured hereby
c~d mawred pnor to ~ts institution. ~ a. If'~ -
7. That in the event that at the inni of or at an fime '
beg ng y pending an~ suit upo~ tMris.~A~rleaye, 8~ tb fwetlose it, or to reform it, or to enforce
}~~ymenl of any tlaims hereunder, said A50RTGAGEE shall apply to the Gourt h~ving jurisdittion theieof for the appointment o( a Receiver, such Court shall
1:::ihwith appoint a receiver oi said mortgaged property all and singular, includiog aIl and Z~ngutar the ificome, profi~s,,' Qt and ~evenues irom whaleve~
s~ urce derived, each and every of wfi;ch, it being expressly understood, is hereby mortgaged as if ipPt~iically .s~ iortF?~an`d ~uribed in the graming and
r~ ,:.endum cEa~ses Fiereof, and such Receiver shall have aIl the broad and ef(ective funct.ons and powers in anyw~se e?~trbite~~r a Court to a Receiver, and
s ch appointment shal( be made by such Court as an admirred equity and a matte~ of absolute right to said MpRTGAGEE, and without reference to the
a<le.~uacy or inadequacy of the value of the property mortgaged or to the so~vency or insolvency of said MORTGAGOR or the defendants, and that such
~+~~~~s, profits, inco.ne, issues and revenues shall be applied by such Receiver accordmg to the tie~ or equity o( said MORTGAGEE and the p~att'ete o! such
Court.
8. To duly, promptly and fully perForm, discharge, execute, effetl, comp~ete, comply w~th and ab~de by each and every the stipulations, agreements,
:onditian: and covenan~s ~n sa~d promisswy ~ote and this mortgage set forth.
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
:'.OR7GAGFE, its svccassurs and asslgns, may, witF~out notice to the A10RTGAOR, deal with such suctessoi w successa in interes? with refere~ce to this
o•rgage and rhe deut hereby secured in the same manner as w~ih A~rtgagor w~+hout in any way v~t~ating or d~scharg~ng ihe Mortgagors' tiability here-
~~,.der or upon rhe d,6t hereby secu.ed. 1Yo sa!e of the prem~ses hereby mortgaged and no forbearance on the pan oF the /AORiGAGEE or its successors
~r ass~9ns and no eatens~on of the t~me for the payment of the debt here6y secured given by the MORTGAGEE or its successors w assigns, a~iall operate
ic re!ease, d~scharge, mod~fy ~hange or affect fhe orig~nal liab~lity of the MORiGAG(}R herein, either in whole or in pari.
10. It is spec~fical(y agreed that tirne is of the essence of this contract artd that no waiver of any obligation hereunder or of the obligation se-
r~~red herehy shali at any fime thereafter be hald to bQ.a waivtv of tho te~mt-hereof w of t1+s inalrumeM sewret/ he~by,
11. In a;id.t:c~ to the forego ng monthly payments of princ'pal and interest required by the prom~sscry no!e secured hrreoy, mortgagor covenants
~.d agrees ro pay to mo~tgagee ~nith each momhly payr,,em an aJdnional sum est~rezated by mortgagee to be equa! to l; l2 of the annual cost of tbe follow-
7 - ~
A- All reai prop^rty taxes (ev~ed or asseszed agaiost th~ above described real estate.
6 Pr.~: ~:,•ns on fire and wirtdstorm insurarce as herein req~~red to be carried o~ the ~mprovements situate on the above described premises.
C-Prem~u:ns o? such mortgage guaranty ir.surer,~e as mortgagee shati from t~me to time deem fit to tarry on the loan secured he~eby.
:l,ortgaaee s~~?! from ~ime ro timp nor:fy mortyagor in writing of the amouN due and payable hereunder and suth sum shall thereupon br due and
..:~b'e on the cl~~_ dare of the neat month;y payment and each successive month thereafter ur1i1 mwtgagee shall notify mortgagor of a thange in such
>unt. Such sums st~a:l be appiled by mortgagee toward the payment of real property taxes, insurante prem;ums, and mortgage guaranty insurance
, _miumi.
IN '.'JITNESS Y,'HfREOF, the said MORTGAGOR has hereunto set his hand and seal the day and year first aforesaid.
Signed, Se,~ed and ered ~n t resente of:
. /
~ 1!~. _ Z~~~/~/'.~~ /`C.'~•,L~. ~x,,,
witness William R . Sams _
' ~ (SesQ
Witness _ Emma J. S s ~ ts~an
s;ATE OF~~ Maryla_~d ~
~ ss'
~OUNTY OF '
Before me personally appeared William R. SdIDS a~
Emma J. Sams
- his wife, to me welt known and known to me to be
individuats desu~bed in and who executed the foregoing instrument, and acknowtedged before me that they executed the same for the pu~poses
rhe•ein expressed_ And the said E~a 3. ~$S
w~~e oF/~+e said _ W1111818 R. $dmS upon a separate artd private
e~ a~p"riert4h by me taken separate and apan irom F~er said husband, acknowledged to and before me that she exetuted said instrument freely and votvn-
w~lhavi ~ny compulsion, canstraint, appre ~si~ fear oi or from her said husband.
~ Z
=~,.~1j~16S5 rr,y hand and offic~al seal this ` day of u5 t A. D. 19~~.
~ r y
• e•,.. - - L ' _
i
Notary Pub~it in and for the Slate of FJ ds at large
: , l % My Commission expi [1~ ia
, i~alurn ro: E.~ ~ ~
first. Federal ~iqgs ~ loan Association f ~ I ~
' + O( Fort P crce.
Fort P~erce. Fbrida
F~~Ep aM^ ~~cuROEO ~
SL LUCIE COUMTY FIA. ~
RaC~? P?~TRAS
This Instrument Prepared By : Kenneth G. Foltz ClfK~ r+,'CI+~T COURT
Fi~st Federai Savings 8 Loan Association REGG~t?~Fr'~~=='
of Fort Pierce , F lor ida 33450 l
Checked By ~ ~ ~ ~Z ~~'~4
n R~(~ PasE 5~~ 23'7620
800K
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