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HomeMy WebLinkAbout0608 3. To ptace and continuousty keep on the bui'dmgs now or hereaftet s~tuate on said land and on al~ equipment and peno~atly covered by this mor nge, wrth all pran,;ums thareon pa:d m fuli, f~re insurance in the usuai stendard po~icy fqrm, in a s~m aHproved by ihe MOR~GAGEE, at~d wi:~dsto ~nwrance in 1he usual srandard pof.cy (orm, in a s~m approved by ~hr MORTGAGEf, in suth compacy or co~~~panies as ~he A10RTGAGEE m d„ect; and aU tire and w~ndstorm ins~rance poGc~es on any of sa~d bu~~d:ngs, any in~erest there~n or part the~eof, in fhe aggr~•gate sum aforesaid ~n excess thcreof, shall ;onrain the usua~ s~and~rJ mortgagae dause or such oiher dause as ~he Mo~tgegee may reqwre, maAing thr aoss under s3~d po c:es, each and every, payab'e ro ta~d A10RIGAGEE as ~ts inrcres? may appear, and each and every wch po:~cy shall be promptly ass gnrd a~~d delivered i any h~•Id by sa3d A10RiGAGEE as (urth:r s;curity ~o said n:orlgage debt, and, not ~ess Ihan fen (101 djys in adlance of the exNirat{on of each pol~cy, to d~ Ilv?r ~o said AIORSGAGEE a renewai thereof, toge~he~ wiih a rece~pf For the p~emium of suth renewal; and ~here shail be ~o fire or windsto~m inwranc p~ated un any of sa~d bu~ldings, any interesl therein or part ~he~eof, unless in ihe torm and with the Ioss payable os aforesaid; ard in the eveM any sun of mpney lxtomes payable undei such policy or pofcies sa~d MORiGAGEE shall have ihe opfion to rec~+ve and apply the sa~ne on acco~nt of the indebted nass sec~red her~by or ;o perm~f sa~d MORTGAGORS to recei~e and use it a any part the:eol lo~ o:n~•r pu.; csrs, .•.:~I,o~t ~h,r, u i .v.:~.l i~ cr ~:,~p~~: ~ng any equ~ty, I~e~ or right under or by virtue of this mar•gage; and in the evem sa~d 6lORTGAGORS shall ;or any rcason fail to iceep the said premises so inwred, or fail to deliver promptly any of s.~~d pofeies of insurance to said MORTGAGEF, o~ tail pramptly to pay fui:y any prE~n~u~n therc.for or in any respec~ fa~l to perfo:m, discharge, execute, eifect, COf11N~N12, canpty wi~h and ab~de by thia cove~an~, or any par~ hrreof, said MGRT3AGEE may piace a~a pay for such insur.,nce or any part thereof w~tho~t waiving or affecting any option, lien, equ~ty, er right uRder w by virt~e of th~s Mortgage, and the h~1! amoun~ of each and every such payment shalt be immediately due and payable and shall bear iroerest fiom Iha date thereuf umil paid a1 the rate o4 ~~e pcr cenrum per an:w~n end togrth~~r with such interest shaii be secured by the lien of lhis mortgage. d. To permit, tomrt~it or suffer no waste, impairment or deterioration of said property or any part thereof. 5. To pay all and singutar the costs, charges and expenses, ~~cluding a reasonable atrorney's fee and costs of abs»acts of title, incurred or pa~J at ~ny tin:e by sald b50RIGAG:E, because or in the event of tha failure on the pan of the said h1pRTGAGOR to duly, pro~.~ptly and fully perform, d~scharge. ~.ec~rc, effec~, comp!rte, co.nply w~th and a6;de by each and every the stipulat~ons, agree~»ents, conditions, and covenants oi said promissory note and ~h]s r.orrgage any or e~~he~, and sa:d cosrs, charges and expenses, each and every, shall be immediatety due and paya~!e; whether w not there be notice d~ ~~,.,nd, attempt to co:iect o~ suit pendmg; and the fufl amount of each and e~ery such payment shall bea~ int~rest from ~he date thereof untii paid at the ~ o' n~ne pci teni~m ~~er an~:u:n; anc: aU safd costs, charges and expenses incurred or paid, to~e~her w~th such interest, sha:i be secured by the lien of this morrgage. 6. That (a) in the event of any breach of this Mo«9age or default on the part of the MORTGAGOR, or ~b) i~ the event any of sa;d sums of money 1~_~r~in referred to be not prornptiy a~tid lully pa~d within th~rty (30) days nrat a~t~r the same severa':y beca~te due and payable, w~~hout demand or notite, cr ~.c) in rbe evero each and every the stip~tations, agreements, co~dir~ons and covenants of sa.d pron.issory oote and th~s mortgage any w eithe~ are no1 i;,ly, promp!Iy and f~Uy performed, d,scharged, executed, effected, canpteted, comptied with and ab~ded 5y, then in e~ther or any such event the said ag ~~•~gata sum mznrionzd in said prom~ssory note the~ ~emaining unpaid, with intere,t accr~ed, a~x1 ati moneys secured hereby, shall become due and pay- ec ~ iorth~v~th, or the~eafter, at ~he opnon oi sa~d ti10RTGAGcE, as fuily and complefe~y as if atl of thr sa~d su:ns of money we~e ongina~ly st~putated tc~ hc pa~d on such dcy, anything in sa.d prom~ssory note or in this Mortgage to the contrary notw+rhstandu~g; and the~eupon or thereafter at the option of s J MORTGAGEE, v+~shout nonce or demand, suit at law or in equ~ty, therefore or thereaiter begun, may be prosecutrd as if all mor.eys secured hereby maturcd pnor to ~ts instituhon. 7. 7har in the event that at the beginning of or at any time pe~ding any su~t upo~ this Mortgage, or to fpreclose it, or to reform if, or fo enforce ~~yment of any c!aims he.eunder, said MORTGAGEE shatl appty to the Court having ~u~~sdic~~on thereot for the~appo~ntmem of a Receiver, such Courf shail rc-,;hwith appo,nt a receiver ot sald mortgaged property all and singular, incl~d~ng atl and s~nguiar the irtcome, profits, issues and revenues from whatever ~_:,~ce drrived, each ar,d every of wh~ch, it befng expressly understood, is hereby morrg~9ed ~ if sptcif~caily se1 fo~th and desvibed io the g~anting and r..,:,end~~m r.auses hereof, ar.d such Rece~ver shall have all ~he b~oad and effective funct.ops ,and powers in anywise entrusted by a Court to a Recaiv~~, and s_cn appointment shail be made by such Court as an ad:nitted equity and a matter of absoiute right to said MORTGAGEf, and without reference to the ad~~q;,sty o~ inadeq~acy of the val~e of the property mortgaged or to the so,vency or inso~vency of said MORiGAGOR or the defendants, and that such •.~~,rs, proirts, inco.ne, issues and revenues shall be applied by such Receiver accordmg to tFe lie~ or equiry of said MORTGAGEE and the practice of such Court. . 8. To d~?y, promprfy and fully perform, d~scharoe, execute, effect, complete, comply w~th and abide by each and every the stipulations, agreements, ;onditions and covenants ~n sa~d promissory note and thts mortgage set forth. 9. That in the ev~nt the ownezship of the mortgaged pren,~ses, or any part thereof, becomes vested i~ a person other than the MORTGAGOR, the :'ORiGAGEE, its successurs and assigns, may, wirhovt not~ce to the A50R7GAOR, deal /vith such successor or successw in interest with reference to this o-tga~e ar.d :hn d_oi hereby secured in the same manner as with !:"~ortgago~ w~thout in any way vi~Eating or dacha~ging the Mortgagors' liability here- . der or upon the de6r hereby secu~ed. No sale of the premises hereby moAgaged and no forbearan~e on the pan of the /JIORIGAGEE or in sutcessors ~ o• ass~gns and no eatens~on ot she t~me for. the payment of the debt h~reby secured given by the MORTGAGfE or its successors or ass~gns, a~~all operate ro re~eese, d~scharge, modify change or affect the osig~nal liau~t~ty oi the MORTGAGOR herein, either in whole or in part. ; t 10. It is spec~i~cally agreed that time is of the esse~ce of this contract and that no waiver of any obYgat~on hereunder or of the obligation se- c,;:ed hereby shali at any ti~:e rherea?ter be h~!d ro be a waiver of the terms hereof or of the insirumero secured herby. j 11. In add tio~ to the fwege'ng rnor,th!y paymenis of princ pat and interest requ;red by the prom sscry n8!r secured hereby, mortga~or covenants ; , i agr•_es to pay to mor~g~yee .~~th each n•on~h'y pay~::ent an add~eional sum est:~nated by mortgagee to be eq~ai to 1, 12 of the annual cost of the fotlow- .i A-Ai! rEal ~,ropsrty tax~s levi~d or asseszed agai•ist thc above described reat es!ate. ' ~~~i ~ 6 Fr~~r~~*.s on fre ard vr~r.dsrorm insuiarce as here~n rcq~~:red to be carried en the ;mproveme~ts s+tuate on_th~:a~0've d~ premises. C-Prc^,~v~*•s o:~ wch morty;.ge guaranty ir.sura~~ce as mortgagee shal~ frorc Yme to time deem fit 1o carry on {t(q: foaa'seGw~':heeeby. r.lortyaaee shs'i from ti:ne to t~:ne not~fy mcrtgagor in writ~ng of the amov^.t due and payable he~eundar and sM~b ~'ixw`s~l~d eupon be due and ,ab!e on th~ dv~ c,+.~ oi the n•_xt monthir pay.~~ent and each success+ve month thereaft~r ur.tii mortgagee shalt ~~olify r~wri~'a~~Or~ s'ehange in such ~~r,t. Su:h su:~:s s~ a:i ;>e apf~:~ed 'uy mortga~•~e torard the payment of rea! property ta:es, insurance prem;un~ ;am{.`6~qQlyap't~ yvatanfy inwrar.ce . e~nfums. - "e~ t - IN \'~tTNE~S :':HER~Of, the sa~d !'AORTGAG08 has hereunto set his hand and seal the day and y r f" t aSoie _~gned, Sealed and delivered in the presence of: ii.l~~ ~ A~ ' flLED ak:~ r-,~n~QBY: ` ~Sea!) ST. LU: ~ Cr,;,+yTY F(a K 1 Ha Pr''hitknt- - H'~'-=E r~A$ " 4c C~~~•`r,~i t:i;)• Ce7URT (Seal) , ~ u _"'r'~~ (Seal) i , VL~ . ~'r ~ 07 PM ~TZ _ ,'1 ~ . - f ~ _ 23'7s8s ~ ~ STATE OF FLORIDA COUNTY OF ST. LUCIE ~f i I NEREBY CERi'IFY, That on this -~day of-_ September . , A. D. 19 72 , ' before me personally appeared Ke l ly Ha 11 - ~ respectively a S President aad ._~!~!'!y , of ~ Kel~ Construction Company ~ a Florida Corporation, to me known to be the ~ersons described in and who executed the foregoing instrument an~s~verally acknowledged the exe- cution thereof to be their free act and deed as such officers for the uses`and •purpose~•1~iQrein *me~tioned; and that they affixed thereto the official seal of said cor ration, and the said instru.t~cienf,.is v'' po ~e..act :and. deed of said corporation. . _ J ~ y . WITNESS my hand and otficial seal at Fort P;erce sb~d oot~nt~ •and state. ~ This instrument prepared by r' .s ~ Gary F. Ellwood ~ • ~ First Federal Savings and Loan Notary Public, ifi',and'ftir'$tate and Cou aforesaid. A ssoc iat i on of h ort Pi erce , N lor i da My Commission Expires: : q- ~5 - 75 r ~ - i Checked By ~ € ` aoox 20~ ~nc~ 6~7 ~ ~ ~ ~ ~ - - _ - - , - - - - - _ ~ . ~ ~.s~~ ~,:d,.