HomeMy WebLinkAbout2686 3. To place and continuous~y keep on the bui'd~nga now w hereafler fituafe on sa~d ~and and on ati eq~ipment and penonally covered by th~a mor
age, with ail pren:iu~ns thareon ~a.d ~o full, fire inswante in ~he u~ual itandard polrcy form, in a sum approved by the MUR~GAGEE, and w~ndsto
~nsurance in tha usual srandard pol,cy lorm, m a sum app~oved by !Ae MOR(GAGEE, in such to~npany or companies as the MORTGAGEE m
dvecr, and eil Ine and w~nds~orm insurance potiues on any o? said build~ngs, any in/erest therei~ o~ pa~t thereoi, in Ihe aggiegaTe tum aforesaid
in excess the~eof, shall conrain ~he usval standard mortgagee ciause or such oiher c~ause as the Mortgagea may requ.re, mdM~ng ~he loss unJr~ sa~d po
c~as, each and every, paya5~e to sa~d h10RiGRGEE as ~~s intereat may appear, and each and every such ~wi~c/ shall !x p~omptly ass gnrd and deGver,:d :
an~ hetd by sa~d ~OtORIGAGEE aa Iwrhe~ aecurity to said mortgage deb~, and, not less than ten (10) days in rd.a~,ce oi the expiraron of each poGCy, to d.
f•~e~ to said MORiGAGEE a rencwal thereof, togeiher with a receipt for the premium of such renewa; and ihere shall be no t~re or a,;~~dstor~n inswanc
p!iceci on any oi sa~d buildi~.gs, any interest there;n or part thereoF, urtless in fhe fo~m and ~~nr~~h fhe Ioss payab'e as a(oresaid; and in the e~eM any sun
of nwney becornes payab!e unde~ wch policy or po~kies sa~d MORTGAGEE shall have the opi~on to receivr and app!y the same o~ accou:~~ oi the indebtad
n,ss SeCUred her~by or to'perm~t sa~d MORTGAGORS ro reteive and use it o~ any pa~t tlw:cof tor o:nvr puri:~srs, v.:~i~~~t ~h_~~~, ~ic~.~,3 ~r ~:~p:u
~r.g any eq~;ty, l~en or ~+ght ~nder or by virtue of thls morrgage; and in the event sa.d MORTGAGORS shall for any ~cason fai) to keep the sa~d premisas so
nsviced, or fail to deiiver prompt~y any oF s3id polities of insu~ance to said MORTGAGEE, er f~ii promptly to pay fu~ly any prr~nium thrrefo~ or in any
respect (ail to perfo~m, d~sch;rge, e:ec~re, effect, co.nplete, comply wi~h and abide by thia covenant, or any part hareof, s~:d MGRTGAGEE may piate a~d
ca~ for such insurance or any part thereof w~t~out waiving or afteUing any option, lien, equity, or right under or by virtue oF this Morfgage, and ihc
f~il a~nount of each and e.ery s~ch payment shall be immediatety due and payable and shall bear interest froin tha date thereuf until paid at the rate ot
^::e ~r centurn per annu~n ~nJ ro~eih~v wiih such interrsr sha~~ be secured by the lie~ of this mortgagr.
4. To permit, commit ur suffer no waste, impairment or detereoration of sa~d property or any part thereof.
5. To pay all and singular the costs, charges and expenses, including a reasonable at~orney's fee and cosrs of abstracts of title, incurred or paid at
,ny ti~rr by so~d A10R1GAG~E, because or in the evaot of the faiture on the part of ehe said MORTGAGOR ~o duly, pro:»pily a~d fully pe~~or~n, d~scharge
cvte, rffec?, CGinple~e, cmnply w,th and ab:de by each and every the stipulat~ons, aqreements, cond'nio~s, and covenan~s of said pro~nissory note and ~h~s
~•o+~gage any or e~~her, and sa,J cosrs, charges and expe~ses, each and every, shail be imm,ed~atety due and payable; whether or not there be non~e ds
c~;nd, atrer, pt to coliect or suie pend~ng; and the tull a~nount of eac6 and every such paymem shall bea. inferest frorn the date thereof until paid at the
o~ n~ne exr crntv~» pcr o~~n4:n; and oll said costs, char~es and expenses ~r.curred or pa~d, togrther w~th such interes~, shall be secured by the iien of this
,nortgage.
6. TFat (a) in the eve~t of any breach of this Mortgage o~ default on tFw part of the J~10RTGAGOR, or ib) ~n the event any of sa:d sums of mo~ey
t_ re~n re~erred to be not promptiy and fully paid wiihin th~rty (30) days neat ait~_r the same severa!ly become due and payable, withqut demand or not~ce.
:r ~c~ in the evero each and every ihe stipu~aiions, agreements, tondis~ons and covenants ot sa.d promissory nora and th~s mortgage any o~ e~ther are nol
i~+:y, promp~ly and fuity perfo~med, d•scharged, execu~ed, effected, completed, compLed ~vith and a6~ded 5y, then in e~iher or any such even~ ~he sa~d ag•
~••.~ate wm ment~oned in sa~d p~om~:sory note then remaining ~npaid, with interest attrued, and a:l moneys secured hereby, shail become d~e and pay
e~ e forthwitA, or thereafrcr, at the opr~on oS sa,d MORTGAGEE, as fuity and completety as if ali of thr said sums oi monev were or~glnaUy snpu~a~ed
?o be pa~d o~~ such d~/, anything in sa d pro:n~ssory note or in thi: Mortgage to the comrery nm,+vithstanding; and thereupon or ~hereafter at the op~~on of
s,.d 1'AORTGAGEE, wrthout nonce or demand, suA at law or in equity, therefore or thereafrer begun, may be prosecuted as if all mooeys secured hereby
r,.-d matured pr~or ro ns institunon.
7_ That in the event tha~ at the beginn~ng of or at any time pending any suit upon this Mortgage, or to foreclose it, or to reform it, or to enforce
F.~ finent of any da~:ns hereund^r, said IdORTGaGEE shall apply to the Court having ~unsdic~iQn rbereoi fbt the aPPo;ntment of a Rece~ver, such Court shail
i~: thwith ap~~cim a~eteiver of said mortgag~d proparty ai! and singular, ind~d.ng all a~.d singul~r.t~ intane, prohts, issues ar,d revenues from whatevrr
s. ~•ce derived, each and eYery of wh:cn, it being expressly unders~ood, is Hereby morrgaged a} if~;pec~ficafty-sf~ fonh and described in the granri+ig and
i.i:endum ciauses hereof, and such Receiver shaU have all the broad and efiective funUions and powers in anyw~se entrusted by a Court to a Receiver, and
s;h appointment shali be made by wch Couri as an admittrd equity and a matter of .absolutn right te said MORiGAGfE, and w~:hc~t reference to the
T irq~aty a inadeq~acy of the va!~e of the property mortgaged or 1o the so~venty or in~olvency oI said MORiGAGOR or the defendants, and that such
s, protirs, inco.ne, issues and revenues shatl be applied by such Receiver atcording to the lien or equdy of sa~d MORTGAG~E and the praU~ce of such
Court_
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8. To duty, promotty and fuily perform, d;scharge, execute, effed, comptete, comply with and abide by each and every the stipulations, agreements, ~
~~nditions artd corenanrs m sa,d promissory note and this mortgage set forth. ~
9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other Ihan the MORTGAGOR, 1he
:'~RTGAGEE, ifs :uccessors and ass~g~s, may, w~thow no~ice to the MORTGAOR, deal w~th such successor or s~ccessor in interesr wirh re(erence to this s
~ o-rgag~ ar.d rhe de~t hereby secured in the same manner as w~th Murtgagor witFwut in any way vifiating or d~scharg~ng the /dcrtgagors' liab~lity here~ ;
der or upon ~he debr hereby sec~red. No saie of the Frem~ses hereby mortgaged ar.d no forbeara~ce on the part of the /dORTGAGEE or its successors i
c~ assigns and no extensian of the time for the payment o1 the debt nereby secured g+ven by tbe MOATGAGEE ot its svccessors or ass[gns, a:~all operate ;
rc reiease, d~scharge, mod~fy change or affect the orig;nal tian~Gty of the MORTGAGOR herein, either in whole or io parL ~
10. It ~s speuftcatiy zgreed thaf tlme is of the esse~ce of this contract and that no waiver of any obi~gat~on hereunder or of the obGgafwn sr {
cvred hereby sha'i at any tin,e thereafter be he:d to Lie a waiver of the terms hereot o~ of the instrument secured herby_
I1. In ~ud v:~:i to rF:e foregc ng monih!y paym~~nis ef princ pal and i~terest required by the promissory no!e secured hereb~, mortgagar eovenants
:i agrecs to pay !o ~+:o-tgagee xrth each monthiy payr,:ent an add~r~onal sum est:n:ated by mortgagee to be equai to 1; 12 of thr annua! cost of the follow-
A-AI{ real prope:ty taxzs le•:~e~ or assesscd agai•:st thc a6ove descri5ed reat estate.
B- F+~•,,;,, ~z o~ f~r~ a~d winduo~~n ~nsuracce as ne~ein req~;red to be carried on the im;.roveme~ts situate on tha above d_:c.ibed premises_
C-Prc~n~ur~ s o~~ such mortgr,az guaranty ir.surar,ce as mortgagee shai! from t:me to time deem fit to carry on the loan secured hereby.
t,lortgagee ;^a'J from trne to t~:ne notify mortgagor in writ~ng of the amou~t due and payable hereundar a~id such w+n sha(i thcreupon be due and
,,~b!c o~ th~ d~e aa!e of the next momh'~ payment and each suctessive month thereatter ur.til mortaaqee shall nohfy mortgagor of a change in such
,~m. Sucn s~:ns SFd ! bz ap;~:i~•d by morrgagee toward ~he payment of reat proparry taxes, insurance prem;ums, and mortgage guaranty insurance ;
, ..n-~um!.
IN \'JIiNESS :::-fEREOf, the sa~d MORTGAGOR has hereunto set his hand and sea~ the day and year first a4oresaid.
S~gn~d, Sealed and delivered in the resence of:
. Sea!)
enne h Lera S h ~s~aq
- ` t5eal)
. Alice Mae Smith ~~a~~
S~aiE OF FiORIDA '
CJU'~tTY OF _ St. Lucie _ ;
' Before me perso~apy aPpeared Kenneth Leroy Smith e~ 1
i
i _ A~.1C@ E~@ SIDlttl his wife, to me well known and knqvvn to me to be
~ individ~a!s described in and who exewted the foregoing instrument, and acknowtedged before me that they executed the s~Te fqr the: purposes '
Alice Mae Smith •
rh.~rein expressed. A~d the said
Kenneth Leroy Smith y ` - • ~
,:;fe pf the sa~d _ upon sSSeparate ynA privafe i
c.nm~nation by me taken separate and apart from her said husband, acknowledged and before me that she eaecuted~sai; ~natnfiiPm fre~y 3nd"~vblun:,
s-:~y a~d w~thout any compu~sion, constraint, apprehe;?f;q~ or fear of or from he id husband. ~ ~ - ;
WITNE55 m hand and official seal this_
Y ~,f day of Octobe 1-- " A;~~. 19~~ •
~ ~ J -
~ ~ ~ ' l '
!Notary PubGc in d fqf the StSts o Fbrida at j.aiyZe
My Comm~ssion expir9E ~ ( ~ ~ F-, , . -
Return To: ~ ~ -
First Federal Savings S Loan Associat~on
Of fert P.~~~ce.
Fort Pierce, Flori!ie
fIIED AMD RECORDEO `1.
St. ~UCIE COUMTr F~A. i\
~ ROCER P011R~5 v
This lnstrumenf Prepared By : Ga=y F. Ellwood ~~ERK C{kCUI? C4URT ~
First Federal Savings & Loan Association RECORO YERIF{fD...~...~~
of Fort'Pierce ~ Floxida 33450 ~
OcT ~I II o7 AN 7Z
Checked Sy _
239~.12
;,~p~( ~~~1 F:1Gf 2U~~
( lh)
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