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HomeMy WebLinkAbout1920 3. To p~ace and continuousty keep on the bui:d~ngs now or hereafter ~ituate o~ sa~d land and on all equip~nent and personally covered by this ma aga, w~rh all premiums thereon pa~d in full, fire insurance in the ~sual srandard pa~ity form, in a ium appioved by the MOR~GAGEE, and windsto insurance in the usual standard po!•cy form, in a wm approved by the b10RTGAGEE, in suth company Or to~.+pan~es as the MORiGAGEE m d~recQ and all iire and windstorm insurance pol~cies o~ any of said buiidmgs, any interest the~ein or pa~t thereof, in Ihe aggregate sum aforesaid in excess thereof, shall :oneain ihe usval standard mongagee cla~se or such o~Fr.r clause as Ihe Mor~gagee n,ay requ~re, mawing the lost undrr sa~d po c~es, each and every. paya!,:e to sa~d h10RTGAGEE as ~ts in~erest may appear, and each a~d every such poucy shait be prompny ass g~~ed and del~ve~ed ~ eny held by sa~d MORIGAGEE as funher secur~ty ro sa~d mortgage debt, and, ~ot les~ than ten (10) days in adva+.ce of the ezpi~at~on oi each pol~cy, to d. fve? to said MORTGAGEf a renewaf the~eof, toge~htr with a receipt iw the premium ot such renewal; and there shall be no f~re or windstorm inwranc placed on any of said bu~ldings, any intzrest thcre~n or part rhereof, unless in the form and with ~he loss payable as ato+esaid; and in the eve~t ary sun of money becomes payab:e under wch policy o~ po~~cies sa~d MORTGAGEE shall have ~he option to rec~~ve ond apply the sa~ne on accounl of fhe indrb~rd ness secured hr~eby w to permit sa~d MORTGAGORS to reteive and use i1 a any parl the:coi ior o:i~<•r pur~•oses, v~itho.,t th~r~ur we~~~,y or ~mp..~r ing aay equity, lien or r~ght under or by virtue of this mo:'gage; and in the event sa!d MORTGAGORS shall ;or a~y reason fail to keep the sa~d premfs~s so ~nwred, or fail to deliver promptly any of said policies of insursnce to said MORTGAGEE, or fail promptly to pay fu~ly any p:e~»ium therefw or in a~y respect fail to Feriorm, d~scharge, executa, etfect, complete, comply wi~h and abide by this covenant, or any par~ hareoS, said MORTvAGEE may place a~~d pay fw such infu.ance or any pa~t lhereof without waiving or alfecting any option, lien, equity, or righ~ under o~ by virtue of this Mo~tgage, and the 1~t1 amou~t of each a~d e.ery suc~ payment shall be, im~nediately due and payable and shall bear inte~eat (rom tfie date thereof un~il paid at the rata o1 n~ne per centum pet annum ond to3ether wiih such inte~est shali be xcured by ihe lien oi this mo+tgage. 4. To permit, tommil w s~ffer no waste, impairment w deterioratiun of said property ot a~y part thereof. 5. To pay all and sin9ular the costs, charges and ezprnxs, including a reasonable attorney's fee and costs of abstracts of title, incurred o? paid a~ nny time by sa~d MORTGAG:E, because w in the event of the failure on the parl of ~he said MORTGAGOR to duly, promptty and fvlly perform, d~scharge. execute, effect, complete, wmply w~th and ab da by each and eve.y the sripulatrons, agreemems, conditions, and covenants of said pro:~issory note and this rortgage any oi e~ther, and sa:d costs, charges and expenses, each and eve~y, shall be immecliately due and payable; whether o~ not there be notice da mand, attempt ro coliect or suit pending; and the full amount of each and every such payment shalt bear interes~rom the date thereof until paid at the r.~!e o~ nine per cens~m per annum; and al1 said eosts, charges and ex~anses irxurred or paed, together w~th such interest, shall be secured by 1he lien of t~is ~ mortgage. 6. That (a) in the event of any breach of th~s Mortgage or defaulr on the part of the MORfGAGOR, or (b) in the event any of said sums of money herein referred to be not p~o~nptly and fully paid wirhin th~rty (30) days nex~ aiter ihe same severa:ly become due and payabfe, without demand o? notice, ? cr (c; in the event each and every the s?ipuiations, agreements, conditions and covenants of sa:d promissory note and th~s mortgage any or e~ther are not i ~u;y, protnptly and f~lly pertormed, d~scharged, executed, eifected, completed, complied with and ab~ded Sy, then in either w any auch evem the sa+d ag ~regate sum memioned in said promissory note then remaining unpaid, with interest accrued, and a11 moneys secured hereby, sha:~ become due and pay- ; eo'e fo~thw~th, or thereaiter, at The oprton oi sa~d MORiGAGEE, as (ully and complefely as ii all of the sa~d sums of money were a~ginally s~~pu~ated i to be pa:d on such day, anything i~ sa:d prom~ssory note or in this Matgage to 1he contrary notwithstanding; and thereupon or thereafter at the opt~on of ~ sa,d MORTGAGEE, without notice or demand, suit at law or in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby ' r::d matured pnor lo As institut~on. 7. That in the event that at the beginn[ng of or at any time pending any suit upon this Mortgage, o? to foreclose it, or to re{orm it, o~ to enforce payment of any cfaims hzreunder, said MORTGAGEE shalt apply to the Court having jurisdiction thereof for the appo~ntmeM of a Receiver, such Cowt shall tc.~rhv~ith appo+nt a receiver of said mortgaged property all and singular, includ~ng all and sing~iar tt,e inco~ne, profits, issues and reven~es from whatever s~.u.ce drrived, each and every of wh:ch, it being expressly unders~ood. ~s h.ereby mor~gaged as if speufically set fonh and destribed in the granting and f,.3~~endum clauses hereof, and suth Receiver shall have all the broad and effective funct~ons and powers in anyw~se entrusted by a Court to a Reteiver, and s. ~h appointment sha(I be made by such Court as an admitted equity and a matte~ of absolute rigM ro said MORTGAGEE, and without reference to the r.c:.~quacy or inadeq~acy of the value of the property morfgagcd or to the sotvency or insolve~cy of said MORiGAGOR or the defe~zlants, and that such _•»s, profits, inco.ne, iss~es and revenues shall be app~ied by such Receiver according to the lien w equiry of said MORTGAGEE and the pradice of such Court. 8. To duty, promptty and futly perform, discharge, execute, efiect, corr~lete, comply w~1h and abide by each and every the stipvlations, agreements, :onditions and covenants in sa~d prom~ss«y note and this mortgage set futh. 9. That in the event the ownership of the mortgaged premises, or any pa~f ihereof, becomes vested in a perwn other than the MORTGAGOR, the :'.ORiGAGEE, its successws and ass~gns, may, without notice to the MORTGAOR, deal with such successw or successw in interest with reference to this o•Tgage and the debf hereby secured in the same manner as with Nbrtgagor without in any way vitiating or d~uharging the Mortgagors' liability here- cr.der or upon the debt hereby secured. No sate of the premises hereby mortgaged and no forbearance on the part of Ihe MORTGAGEE or its successors o~ assigns and no exrension of the time for the payment of the debt hereby secured given by the MORTGAGEE or its successws or assigns, aiwll operate ro re!ease, d~scharge, modify char.ge or affect the orig~nal liaoil~ty of the MORTGAGOR herein, either in whole w in part_ 10. It is spec~ficatly agreed that time is o( the essence of this contract and that no waiver of any obligatio~ hereunder w of the obligation se- F cured hereby shali at any time thereafter be he!d to be a waiver of the terms hereof w of the instrument secured herby. 11. In ~tid.r;o:, to rhe forego~~~g r»onthiy paym_ntz of princ pa1 and interest requ~red by the prom:ssory ne!e secured hereby, mortgagor covenaMS ` e d agr~es to pay to m.ortgayee ~+ith each monthly pay~.:ent an add~rional sum estfn,ared by mortgagee to be equal to 1/ 12 of the annual cost of the fo~Iow- ; ,.3: - A-A~I real property taxes levied or assessed a9aiost thc above descrihed real estate. B- Pr~n:~u~ns o~ fire and v~iadsto~m insurarce as here~n requ~red to be carried on the ~mproveme~ts s~tuate o~ the above d°su~bed premises. C-Premiums on wch n:ongage guaranty ir.surar,ce as mortgagee shall from ttme to time deem fit to carry on the loan secured hereby. r~M1ortga~ee sh;ll frcm time to t~me notlfy mortgagor ~n writing of the amount d~e and payable hereundrr and such sum shall thereupon be due and I ,.able on the due ciate of ~he next month:~ paymee~t and each successive month thereaftcr ~r.til mertga shall notify mortgagor of a ehange in such ~ ':;~nt. Such sums sFa:l be applied by morrgay~_e toward the payment of real propeny taxes, insuran p m;ums, and mort age gu ranty insurance r ~ i ;~'fnnlum5. • ~ IN Y11T`JESS ER OF, t~ so~jd MORTGAGCR has hereunto set his hand and seal the day and a' first aforesa- . --`S~gned, Seale~'and.deliv the pre` e r i Fe of: f / ~ ~ ~ . _ J ' ' Seal) Davi Cohen ~ t~aq ~ ~ (SaaO An e Cohen ~~aq S~:+TE OF FLORIDA ~ St . Luc ie t `JUNTY OF ~ Before me personally appeared David Cohen a~d ~ Anne Cohen his wife, to me well known and knovih~tw~Eio~,bs , j rhe individuals desvihed in and who executed the foregoing instr~ment, and acknowledged before me that they executed the s~q~d~ f~. the 'prr¢0les . ! ~ . tF,~rein expressed. And the said AI1Ile Cohen ~ r::`e of the said DaV 1C~ CO~leIl upod s~arate and p~~va/p ~ c,.am~nation by me taken separate and apart from her said husband, acknowledg~ to and before me that she executed saidiilsj?umep freely and:v6~uri- ~•~~y and without any compulsion, constraint, apprehension, fear of w from rlsaid husband. + ' r_ _ ~ ~ r,C~ 1 ' G= WITNESS my hand and offic:al seal this__ I~ 7 - day of SQ temb Y' ' A. DG,19~ y i ~ ; q 1 t, ~ 1 _ ~ Notar Public in'and~for the State of orids M~ let ~ r• : : .a My Commiss~on ex~res: 2~.'~ ` J1 i~`„~,,`~'.~ i ~ Retum To: \J `'•r....,,~~„'N: First federal Savings a Loan Association ~ pf Fo~t P erce. . fon P~erce, Flvrida ~ AN, ~ ~ . : ~ ~ . ~,p ' c ; This Instrument Prepared By: Gary F. Ellwood E'C~3 ~ ~ First Federal Savings & loan Association ~~0 :~R'•~~~''~~t ~ ~ • o~ ort Pierce ~ Flor ida 33450 ~ ~Q~~~~~ ,q1 ? ~ q~ Checked By ~f-! 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