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Home My WebLink About0716 s To place and continuous~y keep on the bui!dings now o~ hcreaiter ~ituate on said ~and and on a!1 equipment and personally covered by this ma age, w:rh all prcm~u~~s thereon pa~d in Iull, fire insura~ce in ~hc usual standard po~icy form, in a sum approved by the MORiGAGEE, and windsto ~ns~rance in thc usual standard po~~ty form, in a sum approved by the MORTGAGEE, in such tompany or co~+pan~es as tha MORTGAGEE m d~rect; and all f~re and w~ndsrorm insurance poGc:es on any of said bu~tdmgs, soy interest there~n or pa~t thereoi, in the a99regate sum aforesaid in excess thereof, shall confain ~he usual s!andard ma~gagee c~ause w such other clause as 1he Mo~tgagee may requ~re, making Ihe Ioss under ~a~d po c+es, each and every, pay~ble to said 1~10RTGAGEE as its interest may appear, arxl each and every such policy shaU be promptty ass gned and delivered ~ any held by said MORTGAGEE as (urthe~ tecurity to said mortgage debt, and, not less than te:? (~0) days in advance of ?he expiration of each policy, to d~ I~ver to said MORTGAGEE a re~ewal thereof, to3e~her wilh a reteipt fot the premium oi such renewal; and there shall be no f~re or winds~or~n insu~anc piaced on any of sa~d bu~ld~ngs, any interest there~n w part thereof, untesa in fhe form and wiih ~he loss payabte as aforesaid; and in the erent any sun of money becofnes pay~ble under such policy or pol~ues said MORiGAGEE shall have the opt~on to recaive and apply the ume w+ accounl of ~he indebted ness sew~ed hereby or ro permit uid Ii10RTGAGORS ~o reteive and uu it or any pa~t thzreoi for o:ner purposes, ~v~~hout th~r~o~ wawi~ig c~ u~,pair ing any equ~ty, Iien or r~ght under o~ by virtue of this mo:tgage; a~d in Ihe eveN wid MORTGAGORS shall for any reason (ail to keep the said premises so ins~red, or fail to deliver promptly any of said policies of insurance to said MORTGAGEE, or faJ promptly to pay fully any premium therelor o~ in any reipect iail to perfurm, discharge, execute, effect, complete, comply wiih and abide by ihis covenant, or any parf hrreof, said MORTGAGEE may place a~~d pay for s~ch insurance or any part thereof w~~hout waiving or afiecting any option, tien, equ~ty, or ~~ghf under w by virtue of th:s Mortgage, and the f~ll amount of each and e.e.Y such payment shall be immediately due and payable and shall bear interest from tha date the~eof until paid at the rate ol ~~~ne per cemurn pet annum and to~ether with s~ch interest shall be sacured by the lien of this mortgage. A. To permit, commit a suffer no waste, impairment w deterioration of said property w any part thereof. S. To pay all and singutar the costs, charges and expenses, including a reasonable attwney i fee and costs of abst~acts of title, incurred or paid at any t~~r.e by said MORiGAG:E, because or in the event of the failure on the part of the said MORTGAGOR to duly, promptly and fully perform, diuharge, _xrcute, efiect, co~nplete, comply w~th and ab;de by each and every the stipulanons, agreements, conditions, and covenants oi sa~d promissory note and this -:ortgage any or either, and said costs, charges and expenses, each and every, shall be immediately due and payabte; whether a not there be no~ice d~ ~nand, aftempt to co~lect or suit pend+ng; and the full amouM of each arxl every such paymeN shall bear interesl from the date the~eof until paid a1 thr r.~te o1 nine per crnsun, pcr amwm; an~ all said costs, charges and expenses incurred or paid, together wdh such interest, shall be secured by Ihe lien oi this mortgage. • 6. That (a) in the event of any breach of this Mortgage w defauft o~ the part of the MORTGAGOR, or (b) in the event awy of sa~d sums of money her2in refe~red to be not prociptly and iully paid within thirty (30) days next after the same severally become due and payable, without demand or notice, or (c} in thr event each and every the stipulations, agreemeNS, conditions and tovenants of sa;d promissory note and th~s mo~tgage any or e~ther are not iuly, promptly and i~lly performed, d:scharged, executed, etfected, completed, compl~ed with and ab~ded Sy, then in e~ther w any such event the sa~d ag~ aregate sum mentioned in sa~d promissory note ~he~ remaining unpaid, with interest accrued, and a11 moneys secured hereby, shall become due and pay- a~;e fo~thwith, or thereafter, at the opt~on of said MORTGAGEE, as fu~ty and completely as i( all of the said s~ms oi mo~ey were or~ginally st~pulated ~o be pa:d on svch d~y, anything in sa,d promissory note or in this Mortyage to, Ih o tr ry~,nQtyri~ta~pdi,{~. aqd ~~reupon or therea(ter at the option of s,:d MORTGAGEE, without notice or demand, suit at law or in equity, tlil~fotb~'~Iler beguA,'i~{ay be'p~~secuted as if all moneys secured hereby n;d matured pnw to ~ts institulion_ i~ ~4~ •~'j~'~- 7. That in the event that at the beginning of or at any time dendin7j any suit•opon tliis l1~or~j~ge.~r'fo foreclose it, w to reform it, or to enforce p~yment of any claims hereunder, said MORiGAGfE shall apply to Iht Govr1 heving ~IAi~j~istFtdrMf fbi th~!~ippointment of a Receiver, wch Court shail icrthwith appoint a receiver of said mortgaged property all and singW#r,~~lbdjng alI' and singulyytl~aptMt+e,:protits, iasues a~rJ revenues from whateve~ s=~rce d=rived, each and every of wh~ch, it being expressly understood, is F.errby mwtgaged as if speufically set forth and described in the g~anting and t,3bendum cfa~ses hereof, and such Receiver shalf have all the broad and effettive (unct~ons and powers in a~ywise ent~usted by a~ourt to a Receiver, end s. ch appointment shjll be made by such Court as an admi~ted equity and a matter of absolute right to said MORTGAGEE~ and without reterence to the r.chquacy or inadequacy of the va~ue of the prope~ty mo~tgaged or to the soivency or insotverxy ot sa~d MORTGAGOR or t6e defendants, and that.~uch r:,o~s, profits, income, issues and revenues shall be appiied by such Receiver according to the lien or equity of said MORiGAGEE and the practice of suth Court. 8. To duly, prompt:y and fully perform, discharge, execute, eifect, complete, comply w~th and abide by each and every the stipufaticns, agreements, ;onditions and tovenants in sa~d promisswy no:e and this mortgage set forth. 9. TF,at in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the :'.ORTGAGEc, its successon and assigns, may, without notice to the MORTGAOR, deat wilh such succeuw or successor in imerest with reference to this or+gage ard the deb~ hereby secured in the same manner as with Mortgaga without in any way vitiating or discharging the Mortgagors' liability he~e- ~:~der or upen the debt hereby sxured. No sale of the premises hereby mortgaged ar.d no forbearance on the part of the MORTGAGEE w its successors or assr~n; and no eztension of the time for the payment of the debt hereby secu~ed given by the MORTGAGEE or its successors o? assigns, a~~all operate ro re!ease, d~scharge, modify change or affect the orig~nal liab~l;ty of the MORTGAGOR herein, either in whole or in part. 10. It is spec~fically agreed that time is of the essence of this contract and that ~o waiver of any obligat~on hereunder or of the obligation se- cu~ed hereb•/ shall at any time ~hereaher be held to be a waiver of the terms hereof or of the instrumeM secured herby. 11. In add:f:oi to the forego'ng month!y payments of princ'pal and interest requhed by the prem~swry nore sewred hereby, mortgagor covenants d agrees to ;.~ey ro mortgagee vvrth each monthly payrnenl an add~rionat sum estimated by mortgagee to be equal to 1/ 12 of the annual cost of the follow- r}: - A-Alf reai property taxrs levied or assessed against the above desaibed real estate. ' 6 Fr:n,~,, ns o:i fire and windsro~m ~nsurance as here~n requ~red to be carried on the ~mprovements s~tuate on the above described premises. ` C-Premiums on such mortgage guaranty ir.surar,ce as mostgagee shail from t~me to time deem fit to carry on the loan secured her~y. Mortgagee sh~ l.'rom time to t~me notify mortgagor ~n writing of the amount due and payable hereundrr and suth sum snall thereupon be due and f y;b!e on the due oate of the next monthty payment and each svccessive month thereait~r ur,til mortgagee shat~ not~fy mortgagor of a change in suth ~ ~.:~unt. Such wms s6a:l be app!ied by mortgagee toward the payment of real properiy tazes, insurance prem.ums, a~~d morigage guaranty insurance ~ ;"emiums. ~ IN \'~ITNESS WHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and year -first aforesaid. Signed, Sea~ed and delive ed in the presence of: A~.`S ~I~i~a ~~C • fIlEO R'+^- ~~G~nDED - a~ - St.~cuc~~ ~..UN~ag~A. iam A. on I~@S~dAIIt,~Seaq ~aC 4 Ct:.^R C ~t Atr~iASt.2 Sea~ ~~r^'.: : - ~ erna L. Anderson, Secretary - ~ • (Seaq " ~ a STATE OF FLORIDA COUNTY OF ST. LUCIE I HEREBY CERTIFY, That on this ~~day of--_- • Atlgust , A.D. 19~, before me personally appeared _ William A. A11de2'son and Ve2'Cta L. Andersan respectively - President and - Secretary , of American Homes and Mortgages, Inc. a __Flol'ida Corporation, ro me known to be the persons described in and who executed the foregoing instrument, and severally acknowledged the exe- ; cution thereof to be their free act and deed as such officers for ihe uses and pursoses therein mentioned; and that they ~ ; ~ affixed thereto the official seal of said corporation, and the said instrument is the -act and deed of said cbrporation. VYITNESS my hand and official seal at Fort Pierce F102"i , said county and ate. . . _ ~ a This instruaient prepared by Richard K. Kay~es of First Federal Savings and Loan Associati - , - o f Fo r t P ierce, F lo r i da N ry P i c, i n a n d f o r S t a t e a n d u n t f o[~ s a i Q l. y Com ission Expires: Ka~~ ~?B . STATE y1 FlpplbA d(~- . , MY CONMISSION EXPiRE,~, ~D E C. 29: ' 19)S ' NeaW Tnru G~n~.~l Insur~nce O~C~h~ - Checked By L~__ 0 R b00u ~t1V ~ . _ • ~ ~ ~ _ , ~ ;x _ _ - _