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HomeMy WebLinkAbout0718 . 3. To place and continuously keep on the bui:dings now or hereafte. situnte on said land and on ali equipme~l and penonally tovered by this mor e9e, w~~h all prentiums ~hereon pa:d in full, f~re insurance in tha ~sual siandard poticy form, in a sum apµroved by the MOR+GAGFE, and windsto ~niurance in the usual srrndard ,wl:cy form, in a su:n approved by the MORTGAGEE, in such company or companies as the htORTGAGEE m dvact; and aU fire and w~ndt~orm inwrance po:ides on any of said buildmgs, ary interesl therein or par~ thereof, in the aggregare swn aforesaid in excess thereo(, shall conra~n tha usual standard morryagee ctause ur svch o~her clause a} Ihe Mortgagee may requ:rQ, making the loss undar sa~d po c~es, each and every, payable to said MORTGAGEE as ~ts i~iterest may appear, and each and eve~y such po;icy shail be promptly afs gned and de~~verrd ~ any held 6y sa~d MORIGAGEE as (uriher secur~ty to sa~d mortgage debt, and, not fess Ihan ten (10) days in advance of the expirat~on of each pol~cy, to d~ ~~~e~ to said A1C~RTGAGfE a ~enewal thereof, together with a receipt for the premium of such renewal; and ~here shaY be oo f~re or wu.ds~oim insuranc placed on any of said buildi~gs, any interest therein or pa~t thereof, unless in fhe (orm and with the loss paya6le as afo~esaid; and in the evenf any sun of money bxo~nes payabte under such poticy or poJ~c:es sa~d MORTGAGEE shaU have the option ~o rec~~ve and app!y the same on acco~n~ of the indebted nrsi secured her~by or to permit sald MORTGAGORS ro recaive and use i1 w any part thrrrof ior o:~*~r purF•osrs, .•.;~hout th_no~ \M~.~~113 ,;r ~n~~an ~ny any equrty, ~ien or ~igh~ unde~ or by virtue of this mo:'gage; and in the event said MORTGAGORS shall .`or any +eason fail to keep the sa~d premises so +nw~~d, o~ fail to d,liver promptly any of said poGcies of ins~rance to said MORTGAGEE, or fail promptly to pay fuily a~y premium therefor or in a~y respecf faif to perform, discharge, execute, ef(ect, complete, comply with and abide by this covenant, or any part hareof, sa~d MGRTGAGEE may place and pay (or such inwr~nce or any part thereoi without waiving or affecting any option, ~ien, equity, o~ right unde? or by virtue of ~his Mongage, and the f~ll a~nount of each and eve~y such payment shatt be ~mmediately due and payable and shall bear interest from ~he date thcreof until pa~d a~ the rate of ~~~ne per crntv:n per annum a:id to~r~her with such inter~st shaii Ge secured by the lien o~ this mortgage. I. To permit, commit w sufler no wasfe, impairme~t w dete.+orafion of said property o~ any part thereof. 5. To pay all and singular the costs, cha~ges and expenses, including a ~easonable attorney's fee and cos!s of abstracts oi title, incurred or paid at a.,y time by sa~d MORTGAGEE, because o+ in the event of the fa~lure on the part of the said MOR:GAGOR to duly, prompdy and fully perform, d~scharge. ~xecutc, eifeu, canplete, comply w~th and ab:Je by each and every the stipulat~ons, agreentents, conditions, and covenaros oi said promissory rtote and this ,orrgage any or eiihe~, and sa d costs, charges a~d eapenses, each and every, shall be immediately due and payable; wheiher or not thare be not~ce de r,~and, attempt to co;lect or suit pend~nq; and the full a.mount of each and every such payment shafl bea. interest from the date thereot until paid at tAe .~rc oi n~ne ~>er c~~nrum per a~iuum; and all said costs, charges and expenses inturred or paid, together wdh such interest, shall be secured by the 11en of th~s mortgage. 6. Tha~ (a) in fhe evenl of any breach of this Morfgage or default o~ the part of the MORiGAGOR, or (b) in the event any of said sums of money j herein referred to be not promprly and fully paid wifhin thuty (30) days next after the same seve~a:ty beco~~e due and payable, wi~hout demand or notice, er ~c) in tha evem each and every the stipulat~ans, agreemems, conditions and covenams of sa:d promissory note and th~s mortgage aoy or either are nol july, prompt{y and fully performed, d~scharged, executed, eifected, ~ompleted, complied with arfd ab~ded 5y, then in e;ther w any su:h eveM ~he said ag ~~egate sum memion~ in said promi;sory note then remaining unpaid, with imerest accrued, and a11 ~noneys secured hereby, shall ~ecome due and pay- a~ e forthw~th, o~ thereafrer, at the option oi said MORiGAGEE, as fully and comp;etely as if all of the safd sums ot mpney were onginally stipufated ro be pa;d on such dcy, anything in sa:d promissory note or in this Mortgage 1o the~eontrary norHithstanding; and thereupon or thereaiter at the option of s~:d MORTGAGEE, wnhout norice or demartd, suit at law o~ in equity, therefore or the~eait'e~ beQyh,•*pay be prosecuted as ~4 all moneys secured hereby n.:d matured pr~or to ~ts insf~tution. ' ' . , ~ . . 7. That in the event that at rha beqinn~ng of a at any teme pending an~/ suif u~'thls Mort~ey or to foreclose it, or to reform it, or to enforce p,~yment of any cla~ms he.eunder, said MORTGAGEE shall apply to the Court Fwving jurisd~tliob theceot~for'1hl~ppo~mment of a Receiver, such Court shall forthwith appoint a receiver of said mortgaged property atl and singutar, inctud~ng all a~d singular th~ irrcOms,~rq ts, issues and revenues lrom whatever sourte derived, each and every of wh~ch, it being expressly ~nders~ood, is hereby mortgaged as 1 s~eeificelly sel ~orth and described in the gianting and h.3bendum c~auses hereof, ar.d svch Receiver shall have all the broad and effective funct~ons and powers in anywise entrusted by a Cowt to a Receiver, and s_ ch appoinrmene shal! be made by such Cour! as an edmitt¢d equity and a rt,atter of absolute rigM ro said MORTGAGEE, a~d without reference ro the adequ>cy or inadeq~acy of the value of the prope~ty mortgaged o~ to the so~vency or ;nsolrency of said MORTGAGOR or the defendants, artd that such -~•:TS, profits, inco,ne, iswes and revenues shall be applied by suth Receiver accord~ng ro the lien or equity o! said NIORTGAGEE and rhe practice of such Court. 8. To duty, pro?nptly and fully perform, d~scharge, execute, t;fett, complete, comply w~th and abide by each and every the stipufations, agreements, _cnditions and covenanta ~n sa~d promissory note and this mortgage set forth. 9. That in the e+ent the ownership of the mortgaged premises. or any part the~eof, becomes vested in a person ofhef than the MORTGAGOR, the :'pRTGAGEE, ity successors and assigns, may, wi~ho~t notice to the A1t7RTGAOR, deal w~th s~ch successor w successor in ;nterest with reference to this r. ortgage and the deot hereby secured in the same manne~ as with rAortgagor wlthout in aoy way vitiating w d~scharging the Nlortgagors' fiability here- vn~e: or upon the debr hereby sec~red. No sale of fhe premises hereby mortgaged and no forbearance on the part of the /J10RiGAGEE or its successors or ass~gns and no exrension of rhe time for the payment of the debt hereby secured given by the MORiGAGEE or its successws w ass~gns, a~~all operate ro re!e~se, d~scharge, modify cFange or aftect the orig~nat liabitity of the AAORTGAGOR herein, eithei in wbole or in part. 10. (r is spec~fically agreed that time is of the essence of fh;s contract and fhat no waiver of any obl~gat~on hereunder or of the obligation se- c~-rd hereby shali at an~ time thereafter be held to be a waiver of the terms hereof or of the instrument secured herby. 1 1. In add ~;o~ to the iorego'ng month!y paym~nts of print pel and interest required by the p!om;ssory no!e setured hereby, mortgagor covenaMs d ag.ees ro pay ro morrgagee w,th each mont~iy payr,~ent an add~rional sum ezt~neared by mortgagee to be eGval to 1; 12 of the annual cost of the follow- .~3; A-Ati .eal propeny faxzs levied or assess~•d against the above destri5ed real estate. 6-Pr~~~c;~~ns on fire and windstorm insuracce as herein requ:red to be carried en tbe improvements situate on the above described premises. C-P~~~r•i~~~~s o~ such mortgage guaranty ir.sura.~ce as mortgagee shaN irom t me to time deem fit to carry on the loan secured hereby. blortgagee sha:i f.om tfine to time notify mortgagor in writing of the amount due and payabte hereundrr and such sum shall thereupon be d~e and ...ab;e on the d;,e date oi rhe ~eeat n;onth:y payment and each successive month thereafter uraii mortgagee shal~ not~fy mortgagcr of a change in such , ounr. Such wms s~aY be app'~ed by mortgagee roward the payment of iea! pioperty taxes, insuran~e prem:ums, and mortgage guaranty insurance ."r~niums. l'~ITNESS ':JHERiOF, the said MORTGAGOR has hereunto set his hand and seal the day ear first aforesaid_ 5' n Seeted ar:d de(ive ' t esence oi: j ' / _ ~11 Seal) i . i (Seal) ($eal) - - (Seal) SfATE Of fLORIDA ~ " ~ CvUNTY ~F _ SL. Lucie ~ 1 Before me perwnally appeared ~O~rt H. MOZIIS and _ Ruth A. ~?~[Orr1S his wife, to me weN known and known to me to be ttie ind~tiiduais described in and who executed the foregoing instrument, and acknow{edged before me that they executed the same for the purposes ~~ere~n exp~essed. And the :a~a _ Ruth A. MOY'I1S +r~~e of rhe sd~a _ Robert }i. MOrZ1S vpon a xparate and private c.am~nat~on by me taken separate and apart from her said huaband, ackoowiedged to and before me that she ezetuted said instr ent freelr and voluo- and w~thout any computsion, constraint, apprehensi or f r of or from her id husband. WITNESS my hand and officual seal this day of $@ tP.tDb Y A.0. 19 72 N ~r Public in and for tF?~_~a~ f ' a at Commission expires: N . • ! ~ Return To: ~ ~~'S~^~ ~~~~p~ ~ J first Federal Savings S Loan Associat~on ~~C. a, ~ oaMN Thti A u.•M ~-~1».~c• u.w,,..,..,~i? Of Fort P<rce. u~ i) ~ ' forr P~erce. fl~rida PE~~~~EO ' ' - FILEO AK ~ tY Fl~• ~ - . St.WC~E ~Gt1N~R5 ~ " RGG:.: ,~~V~t ~OURT . ClEah ,c t: . This (nstrument Prepared By Kenneth G. Foltz pc~(+R" Y~ ' First Federa! Savings & Loan Association u~~~ of Fort Pierce ~ Florida SEP ~ 55 e~~ Checked Byt~' ~y,~~~ rV ~OOK ~;V V PA6f Is ~ - - - - - - f~ ~;~.~-~u~::~.~~..~-~~ ~ ~ .