HomeMy WebLinkAbout0320 3. To p~ace and co~~tinuousiy kc'ep On the bu~'d~ngs now or hereafter s~t~ate on sa~d ~and and on a~l ~•q~ip:nenl and personaily covered by ihis mor
age, w:th all Ff<'ni~vmS +h~~reon F~a d~n lull, f~rc ins~ra^ca m the uswl s+ar.dard po'~ty fo~m, in a s~m arp+o~ed 'uy thr t.1vR~v%aGEE, a~~d vw:edato
,nsurance in tha ~wat s~~nd~rd po:cy io:~n, in a wm approved by ihr h50RTGAGEE, in such co~~~pary er co~~~;-an:es as t1~e h10~TGAGEE m
dnec~; a~d all iire a~:d w~ndstorm ins~cantc poli.ies on any oi sa~d bu~~d~ngs, any inte~ast therein or pa~t th~•~eof, in the aggregat,; wm afuresaid
in excess th~•reof, shall :ontain ihe us.,al sia~:d3rd mo~~g.+gee ciause or such o~her dause as Ihe Moriyagee n,ay rrqu.re, making the toss undrr sa~d po
c~es, each a~:d every, pa;:,~'e to sa~d ;dJRTli.4GEE as ~ts interest may appear, and each and every such po sha~I or prompt!y ass gned and da•~virrd
any hrid by s.,~d ~.1pR1GAG~E as ivr~h_~ s.curity to sa~J n:o:tgage debt, and, not less than trn (10) days in ad.~~~ce of ihe eapi~anon oS each po~~cy, to d~
l~~er to s.,~d '.10RTGAGEE a ~enewal fher~~of, loyether with a rece~pt for the prem~um ~f such rene~a:; a~~d ii~cre a~~ail be no i;re or ~~h~dstor~? inswanc
p!aced on any of sa d b~~!d~•~:7s, any in!erest thare;n or pa~t ~hereof, un!ess in the fonn a~+d wiih N~e ~oss ~:ay~f;'e as a'.cresaid; and in the e.ent any sun
of money beco~~~es p~yab!e under such poiecy or poi;c~es said MORiG~.GEE shall have ~he op~~on to r~a_~~e :.~~J apF;'y t~ic sar•ie on ac:o~n~ of the indc•bt~•d
ness s~~a.nd he~aby or to permit s~~d ~AORiGAGORS to recrive and use it or an~ p~~rt th~~:eof rc~ o:~~~r ~:un ~s:s. :,,~ho•.t ~hr~.:r v:~.~~3 c~ n:a..~•
ing any equ~ty, iien or r~yht und•_r or by v~rtue of ihis mc:c~age; and in the event sa;d A10ZTGAGORS sha!1 icr any raason fait to Aeep the sa~d premis~s so
~nsurc~d, or fail to dcli.cr p~ornptly any cf s3~d F;ol~c~es of insurance fo Said h10RTGAGEE, er t,,:~ pr~n.F.tiy to ~,ay tu~ly any pre~~~~~m therafcr or in r..y
respoct fai! ro aerform, d~sch~rge, executr, eltea, comp!etr, co:~ply wirh and a5~de by thls cove~a::t, o~ a~y p.ut h_reof, s.+~d IdGATGAGEE may p~ace a o
pay for s~ch insur„nce or any part thtrcof ,~nhout waiving or affec~ing,any opt~on, iien, equny, or r~~irt ~nde~ or by v~reue oi thl> i'c;tgage, ar.d the
iu~l amovnl of cath and every such pay.^.~rM shell ba immediately (~uB and payab~e and shall brar inter~st tro~n th~ d~te lh~rcof until p.,id al ihe tate ol
.:.~8 per :c'nturn per d•;n~:~~. e•~:1 +o_~-~h~r ~tiith SuC1i iiCi~:est shai~ be sec~red by the liCr1 Of thil mOtt9~y~.
4. To permit, comrn~t ar sufier no waste, +mpairment or dete~~oration of said property or any part thc~eof. ~
5. To ~ay a;l and singular the costs, charges and exprnses, including a reasonabte aftorney's iee and cosrs of absrracts of title, incuned or paid at
.~r t~~,:e by s3~d ASORiGAG:F, because o~ in ~he evenf o~ the (aiiure on the parf of the said MORTGAGOR to duly, pro:npely and f~liy porform, d~scharge
.rcvrr, eff~•~t, ce~.~pie~e, cor.ply w.~h ond ab:dz by each and eve~y the stipufanOns, agreements, tond~tions, and covenants of sa~d pro:n~>sory note a~~d ih~s
,.orsga~e any or e~~her, a~:d s~ d costs, charg~s and expenses, each and every, sha11 Fx immediatety due and payab:e; whether o~ not ~h~~re be no~~ce d~
::.,nd, atte~r,pt ~o co::ect ur zuit prnd.ng; ond the iull amount of each and every such payment shall bea~ interest from ~he date thereof ontil paid at tt:e
J' !:~~1E' UCI c~n:~m ~.r: ~~nw ~:+c: a+~ s.,icl cosrs, c6arges a~:d expenses irx~rred or pa~d, together w~tn wch mterest, shatl be sewred by the i~en of th~s
+„ortgage.
b. Thar ;a? in the event of any brrach of this ~Jlortgage o~ d<fault on tFw part of the MORTGAGOR, or ;b) in the ev<nt any of sa'd sums of money
rein refertro to b•~ nc! pr:;~nFUy and fu(!/ ~:aid w~thin th;rty ~30) days next a'ter the same se:era'ly Leco~~~e dve and payab'e, withc~t deman:l or netite,
;r in thr ev~nt each and evcry ~he stipu:at~ons, agree:nents, ce:~d~tions and tovenaNS of sa.d promi;s~•ry note and th.s mortgage any w e~ther are not
;,,iy, p:on.ptty an~ fui:y ;;r.!orr,.~d, ds:har3cd, exe.ut;:d, ef!e:ted, coer.p!esed, co-r.r`.!ed ti:ith ar.d a'~~d_d ~y. then ~n e~thrr or any su:h evem the sa~d ag~
~•e.7a~e wm ~^cnno.~ed in said prom+ssor~ note then re~naining ~npaid, with inte~e,t atuued, and a:~ moi:r~s secured hereby, shal! become duB and pay
~ fCrrh~.vdh. Cr iio.reafrer, ai The op!~on ef s..~d A10RTGAGEE, as ful+y and compie~c:y as ii a~~t of ti,~ sa~d sums of money we:e or;gina~ly st;pu;ated
,r..+.d o~~ s~ch d;.y, ani;h~ng ~n sa d p~o:nlssory note or ir. this hlortgage to ihe connary not.v~thsta^d::~g; and ihereupon or thereatter a~ the oF~t,on of
.:f A403TGAGEE. v~,~ti::.vt no~~ce or dema~,d, suit at law or in equ~ty, therefore or therraiier begvn, may be prosecuted as if alt moneys secured hereby
c,d r.,at~rcd ~:nor to ~ts inst~:ution. .
~t
7. That in the e.ent th.i+ ar the beginn~r.g o( or at any time pend~ng any surt upon this Mortgage, er to foredose it, or to reform it, or to enforce
; a.rnent of any c!.~~~^s hereur•.~+cr, said L10RTv/>GEE shall 3pply to the Cou:t having {urnd,ction the~eot ier the appo~nt~nent of a Receiver, such Court shail
rh.ti~rn aF:F ~lnt a recei.er of sa~d mortgagrd property aIl and singular, incl~d ng a~l a~~d sing~lar th2 ir.come, prolns, issues and revenues from wh:~tever
~•ce d~~rived, ecch a~d e.•ery of wh,ch, ~t t,e~ng expressly undersfood, is hereby mor!gagrd as ~f spec;f~~a~ty srt fo+rh end desuikxd in the g~anring a~:d
hendum c.avses hcr~~of, and sucfi Recei,,er shafl have a~t the broad and effe`nve f~nct.ons and po~•:e~s in a~ywlse entrusted by a Court to a Recciver, a:.d
s_.F, 3;;poin~n~.rnt sh~i~ he r.,ade by such Court as an ad•niired equiry and a maner of absoiure r~ght to sa~d A10RTGAGEE, a~~d ~n~,ho~t reference to the
~'.~y.,acy or ir.adeqvacy of the valve of the property morfgaged or to the so~vrncy or ~nso~~ency o~ sa~d A",ORiGAGGR o~ tl:e defe~~da~:ts, and th.;t svch
~s, profrts, incu.ne, issues a~~d revenues shall be appi~ed by such Recriver accord.~~y to the lien or eqwty of sa d IJ10RiGAGEE and the pract~ce of such
~ J cl7t.
8. ?o d~'y, prompt:y and ful~y perform, d~s:harge, exe~u~e, effect, complete, co~e,ply wlth and aF:~de by each and every the st~puiations, agreements,
_,:•dit~ons and covenants m sa~d pro;mssory note ar.d th~s mortgage set forth.
9. 'hat in the event the ownersh;p of the mortgaged premises, or any part thcreof, becomes vested in a person other than the MORTGAGOR, the
:`RTG~GEE, irs Su:CC550r5 z::d ass.gns, may, w~rhout notkce to the ,~'IORTG~+OR, deal w~th such s~tcessor or succeszor in rnterest ~v~~h reference to this
;-rg~~e a:'.d the d_•ot he~et~y sec~red in the same mar.ner as with fhortgago~ without in any way vit:ating or d~scharging the /lortgagori liability here-
c. ~}~on th> d_F,t h~•re~~ s~~c~~~^d. No s3!e of she Fre~T,~s•~s hereby mortgaged ard no iorbearence on the part of the /J50RTGAGEE or its successors
_..»~n~~s and no exiens:o~ of the t~:re for rhe payment of the cieb+ hereby secured given by the 1JIORiGAGEE or its successon or ass~gns, a~~afl operate
~u .e•edse, d.scharge, mod~iy char.ge or affect the or~g~ndl liau.;rty of the MCRTGAGOR here~n, either in whoie or in part.
10. It is speuf~c~H~ an-eed ~nat time is of the essence ef this contract and that no waiver of any ob!~gat~on hereunder or of the obligation se-
-_d hereby sha': at ant tir.:e therea'~er be hefd to be a w;iv~r of the terms hereof or of the insfru~r.ent secu~ed hcrby.
I l. I~t :::i:? f ~ i •o N r for,.g_ •r•on~h'v pa~•nrnts of p+inc pat and i+verest reqv~red t>y rhe pron, ~;cry no=~• secured harrby, nwrtga~or eovenants
~ a~r•_cs to pay ro yag:r ..~th each monrh y;;a~=_er:t an acd:rional su•n est~n•,etcd by mOrtgagee to be eqvai to 1 12 of tiie a~z:~val cost of the iollow-
A-AI: r~el ~ rop_r*y raxos iev~ed or assess~~ci ego~~ist the above desc~~bcd real es'ate.
, 6 Pr_~r.-~•:,s on ~~r: a+~.d ..~r.dst~^n ~rsvrarce ~s i~er~-~n requ:red to be tarried en the :m;,rove~ne.~ts s:twte on i'.,e above d.scribed prem;ses.
C-P.~•~, s o~~~~h o:t~:.ge ~~ar;r.!y ~csura~ ce as me~tgagee sha~l fro:n t me to t;~re deeoi fit to carry on the Eoan secured hereby.
."•or:n_~ace s~~, ~`•cr t~.n~~ tc !i~^.e n^nf~ n;c~t_;agcr !n •,+vritmg of the ar:ou~t due and p3yable he~eundar and s~ch sv:.~ shail th,~reuFwn be due and
j .t:'e on th~ vt,~ n~.~r ~,:onfh:; pay~~~~_n± and eacfi successive monrh thereafrer ucrit mcrrgagee sha!I not.fy mo~tgagor of a change in such
j unt. Such sc^~s s' ap~. ~_d 'uy mcrtya^y;e tov.ard the payment of tea! prope~ry taxes, ins~rance prem:ums, a~~d mortgage guaranty insurance
~ . •'~!IJR15.
~i 'i:tTPJESS :.N;R~OF, the sa~d lJtORTGAGOR has hereu~~to set his hard and sea! the day and yqar fi~st aforesa/~~
~ ~5; ned, Seated a.d d'' red in~the presence of: „ i''
- i~~ ~ Q' L~- (Seal)
~ 2~_ Fr k E. Cole " _tseaq
~
--~d_r/ c L f~ E: - - (Seal)
" . _ _ _ _ _ _ 'y -
Lou i Se L. CO le ~~a~~
~?:.TE Of F~ORIDA t
St . Luc ie ~
~ iU.'JTY OF _ 1
Before me personaliy appeared Frank _E. COle _ _ _ and
L.OU 1 Se L.. COle his w~fe, to me well known and knoviiri to me to be
~ ind~~iduais descr;ced in and who exec~ted the foregoir.g instrument, and acknowledged before me that they executed the same for ~the purposes
~e-ein expressed. And rhe sa~d_ ~u15@ L._ COle
,•."c of the sa~d ___Frank E,_COle _ _ _ p -sBqaT~te~aPd private
.:,•n:natlon by me takan seoarate and apart from har said husband, acknowledged to and before me that she executed saic{•lnstrumeM f~Qelr arfd volum
• ~ and v+ thovt any co :~pulsicn, consrraint, apprehe~6"~n fear of or from he usband. ' =
~tiITNE55 my hand and offic~al seal this_ 1~ day of _ OCLOb@ r' ' ~~p y~g.72
~ 7_~r <<t _ ; y ,,Z~ ~
~ Notary Publ~c ~n a~d for the'Slat .~Iq`ida~ [;iy~
~ My Comm~ss~on expues: ~ y ' '
~
~ Retvm To: 1 h ,
/
first Federal Sa~~ngs 8 Loan Associat;on ti
r:~TFRY PUALiC, ST'A of FLORlDA at LARGE
~ o~ ~~~r v•_~c_•
Fort P~~•:,~, Fs:.,d~ t+Y CG:~:~SSIO~: ExP~P.ES SEPT. 25. 1975
E~n~e:. i A.-nJ• ~.an B~n:~rs ir,surance
CaRpFp ;
Th~s Instrument Prepared By Richard K. Kayes f{~Ep~`~
~OUKj~ FLA. ~
First Federa! Savings & Loan Association s~•~
~~E{i P~~S ~~~Rt
of Fcrt Pierce~ Flor ida O R p fcoE
~ v~~`:ctF~Or+~'~~
Checked BY 600K~ 1 PA~ 3~ 6 56 a~
pct 10 ~
~ 39558
_ ~ -
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