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HomeMy WebLinkAbout1260 3. To p~ace and cont~nuously keep on the bui!d~ngs now or he~ea(ter s~tuate on 3aid land and on ali equlpment and perso~ally cove~ed by this ina egz, w:~h all prrmivms thereon pa~d in full, fire ins~ra~ce ~n the usual uandard poGcy form, in a sum approved by the MORtGAGEE, and windsto ~nsurance in tha usual sra~,dard po~•cy form, in a sum approved by ~h! MORTGAGEE, in such company or compan~es as the MORTGAGEE m d~reu; and all fire and w~ndstorm insurance po~~:~es on any of said build~ngs, any interest therein o? parf thereof, in Ihe aggrega~e sum afwesald in excess thareoi, shall coorain the usunl standard mwtgagee dause or such other clause as tAe Mortgagee may reqwre, making the Ioss under sa~d po c:e:, each and every, payab~e to said b10RTGAGEE as its in~eres? may sppear, and each and every such po~Icy shall be promptty ass gned a~d de~ivared ~ any held by sa~d MORiGAGEE as (unher security to saiJ mortgage debt, and, not less ~han ~eo (101 days in advance of the expirat~on of each pol~cy, to d~ 1~•,rer to sa~d MORiGAGEf a rene~val thereof, together with a receipl fo~ Ihe premium o1 such renewa!; and Ihere shall be no f~re or windsto~m inwtanc F>I~ced on any of said bui!dings, any interest therei~ w pa~t thereof, unfess in the form and with the loss payabte as aforesaid; and in the event any sun ef money becomes payable under such policy or pol~cies said MORTGAGEE shall have the option to receive and app!y the same on account of the indebted n<•ss secwed hcr~by w to per~nit sa~d MORTGAGORS to receive and use it a any part the:eo! for o:iu~r pwf~oscs, v~~~hout ~h_r~br w~i'.i:~g c• ~~npa~~ ~n~ any equ~ty, I~en or right under w by virtue of this mo:•gage; and in 1he evenl sa~d MORTGAGORS sha11 !or any reason fail to keep the said premises so ~niured, or fail to drtiver promptiy any of said policies of insurance to said MORiGAGEE, or fail promptly to pay fu~ly any pre~nium thereio~ or in a~y respect fail to per(orm, discharge, eaecute, eifect, comptete, comply with and abide by this cove~ant, o~ any pan hareof, sald MORTGAGEE may place and pa~ for suth inwrance or any part ihereof w~thout waiving or aifetting any option, lien, equity, or ngM ur.de~ or by virtue of this Alwtgage, and tht t~~l a~nount of each and every sucA payment shall be immediately due and payable and shall bear interest from ihe date thereof until paid a1 the rate oi ,e per cenwm per ann~~n and to9e~her with such interest shali be secured by the lien ot this mortgage. 4. To permit, commit or suffer no waste, impairment w deterioration of said property w any par! thereof. s. To pay all and singular the costs, charges and expenses, including a reasonable attorney i fee and costs of abstracts oi title, incurred or paid at ~ny tin:e by said MORiGAG:E, because w in the event of the failure on the part of the said MORTGAGOR to duly, promptly and fully pe~fwm, discharge. _.~cutr, effec~, compte~e, comply w~th and ab:de by each and every the stipulat~ons, agreemenfs, canditiona, and cove~ants of said promissory note and ~his ,,orrgage any o~ e~ther, and sa:d costs, charges and expeoses, each and every, shall be immediately due and payabte; whethe~ or not there be notice d~ r.:;,~,d, attempt to collect w wit pend~ry; aod the fvll amouro of each and every such payment shal! bear in~eres~ from the date thereof until paid at the -,r u~ nine per ccnwm p<r anuu~+; and all said costs, charges and ez~nses inturred w paid, together wah suth interest, shall be setuted by the lieo of this mo~!gage. b. That (al in the event of any b~eath of this Morlgage or default on the part of the MORTGAGOR. or (b) in the event any of sa;d sums of money i. ~rein referred to be not promprly and fulty paid within th~rty (301 days nexf afier the same severatly become due and payable, without demand or notite, ;;r (c? in the event each and every the stiputations, agreements, condi~io+~s and covenants of sa:d promissory note and th~s morlgage any or either are no1 iu:y, pro~~ptly and fully performed, d~uharged, executed, effected, completed, compl~ed with and ab~ded 5y, then in either or any such event the said ag yregate sum mentioned in said promisswy note then remaini~g unpaid, with interest accrued, and all moneys secured heraby, shall become due and pay- n5 a fo~thwith, or thereafter, at Ihe option of said MORTGAGEE, as fully and completc:y as i( atl of the said s~ms of money were o~iginatly st~pufated rn be pa:d on such day, anything in sa:d promisswy note o? in this Mortgage to the contrary notwithstm,di.~g; and ~hereupon or lhereafte~ at the option of s,:i MORTGAGEE, without not~ce or demand, suit at Iaw a in equity, therefore or thereafter begun, may be prosecuted ~s if all moneys secured F~ereby r.~:d matured pr~w to ~ts insutution. 7. That in the event that at *he beginning of w at any time pending a~y su~t upon this Mortgage, or to foretlose it, or to reform i~, or to enforce ;.ayment oi any claims hereunder,_said MORTGAGfE shall appty to the Court having jurisd~c~ion thereof for the appointment of a Receiver, such Cour1 shail ~crihwifh appoint a rece~ver of said mortgaged property all and s~ngular, inctud:ng aIl and s~ngular the ~ncome, proi~ts, iss~es and revenues from whatever s~u~ce derived, eacfi arr! every of which, it being expressly understood, is hereby mortqaged as if speuf:calty set forth a~d dexribed in the g~anting and i~.~:~,end~m cfauses hereof, and such Receiver shall have all the broad and effecrive fu~ct~ons and powers in anywise entrusted by a Court to a Retaiver, and s_ ch appo~ntment shall be made by such Court as an admitted equity and a ma~ter of absolute right to said MORiGAGEE, and w~thout reference to the a::~q~;cy w inadequacy of the value of the oroperty mortgaged or to the so~vency or inso7vency of s_.ed MORiGAGOR w the defendants,. and that such ; rs, proiits, inco,ne, issues and revenues shall be applied by such Receiver accord~ng to the lien or equity of said MORTGAGEE and the practice of zuch CourL 8. To du:y, promptty and fully perfo.m, discharge, execute, effect, ~omplete, comply with and abide by each and every the stipulations, agreements, ;cnd~rions and covenants in sa~d promissory note and this mortgage set fwth. 9. That in the event the ownership of the mortgaged premises, w any part thereof, becomes vested in a person other than the MORiGAGOR, the :''~RIGAGEE, its successors and assigns, may, without notice to the MORTGAOR, deal with wch successw or successor in iroerest with reference to this ~-rgage and the debi hereby secured in the same manner as with Mortgagor without in any way vit~ating o~ discharging the Mortqagors' liabiliry here- ,~;i~r or upon the d~•6~ hereby secured. fVO sate of the premises hereby mortgaged ar.d no iorbearance on the part of the MORTGAGEE or its successors ~ss~gns and no exre~s:on of the time fw the paymem of Ihe debt hereby secured given by the MORTGAGEE or its wccessors or ass~gns, a~ialf ope~ate o re~ease, d~scharge, modify change or afiect the orig~nal liability of the MORTGAGOR herein, either in whole w in part. 10. It is specif~cally agreed that time is of the essence of this cortract and that no waiver of any ob~igation hereunder or of the obligation se- c: ~~d hereby sha11 at any time thereafter be held to be a waiver o( the terms hereof or of the instrumeM secured herby. 11. In a:id~tio~ to the forego ~~g month!y paymsnts of princ'pal and inte~est required by the promissory no~e secured hereby, mortgagor covenants ayrees to pay to morrgagee v~~th each monthly pa~rnent an add~rional sum est~mated by mortgagee to be equal to 1 j 12 of the annual cost of the fo~iow- A-All rcal property taxes ievied or assessed agai•,st th~ above desc~i5ed real estate. 6-Pr~n:~~~ns on !ve and windsto:m insurar.ce as here~n requ~red to be carried on the improveme~ts situate on the above d~scribed premises. C-Pre~~~u~ns on such mortgage gua~anty ir.surance as mortgagee shall from t~me to time deem fit to carry on the [oan sewred hereby. i Morfgagee sh~!~ `rom t~me to t~me norify mo~tgagor in writ~ng of the a:nount due and payable hereundrr and such su:n shall thereupon be due and ; •!,!e on th~ due date oi thz next month!y payment and each suctessive month thereafi~r untii mortgagee shall notify mortgagor of a changa in such ~ mt_ S~ch sums sha:l be applied by mortgagee toward the payment of real property taxes, insurance prem;ums, a~~d mortgage guaranty insurance ~ . ~ ~ r;ums. IN 1"lITPJESS :YHEREOF, the said ORTGAGOR has hereunto set his hand and seal the day and year first aforesaid. ~ Signed, Seated and de ' ed in e presence of: ~L- ~ J~-~~~_(Sean ~ LuCious JaCkson t~aq ~ u (Sea4 8 ~ Ka.tie J Ckson ~~aq ' ' TE OP IORIDA ` St Luc ie ~ ; JJNTY OF • ~ Before me personally appeared l+~lOl15 Jackson Ond Katie Jackson his wife, to me well known and knowt~.lO me tq,bs individuals described in and who e:ecuted the fwegoing instrument, and acknowledged befwe me that they executed the same.~or th~ purpqt~y;• ; Katie Jackson = - ' - ~ ~~,-•e~n expressed. Md the said . ,*1''.' :..'e of the satd _I'L1ClOU5 Jackson upona se~ ate aod~priyste =~~n~nat~on by me taken separate and apart from her said husband, atkrawledged to and be~ore me that ahe executed said iwtJrtmen?Cfre~y a4stl "vo16n- and w~thout any compuision, constraint, apprehe or fear of w from her said husband. ~ _ ~ 1' ?•2 : WITNESS my hand and official seal this- day of S te r - D~~)9 g ' ~ ~ ~ ' ~ . t., " . . ~ N ary Public in and fo th State of.,FloridSvt ~ar8e'~. % . ~ ~ My Commissio~ expires: ~ " ~ . Return To: ~~~~~J'•. J: ~ g; f;rst Federal Savings 3 Loan Associatlon ~ O! fort P~erce. Fo~T ~~.~rce, Flcrida FIlEO AMG REC~aoE~ St.lUC1E COUN F~ • r CLERK C~ CU T COURT ` i RECORD YER~FIE~ ~ This Instrument Pre ared B. Gar F. Ellwood ~ First Federal Savings 8~ L an Association ~ t8 2 Se PN o f F o r t P i e r c e, Flor i,d a 33450 Checked By - 23f3181 n;;i:K~i1 ~!1~` 1~~~ ( lh) , f - . L..~. _ _~_r. : _ _ - - . . - x a =:'r_ ~ ~ .