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HomeMy WebLinkAbout0548 3. To place and continuously keep o~ ihe bui'dings novv or hereaiter ~ituate on sa~d land and or ali eq~ip~nent and pe~sonalty covered by this mor age, w~th all premiums thereon pa:d in fuit, fir~ insurencc in the usual srandard polrcy iorm, in a sum appro~ed by the MOR~G%.GEE, a~d windsto insurancr in the usual standard pof.cy form, in a wm approved by the MORTGAGEE, in such ton,pany or compames as the T:10RTGAGEE m d~rett; and aU fire and w~ndstorm insurance po~~ues on any of said build~ngs, any interesl therein or part thereot, in the a9gregara s~~~ aloresa~d in e~cess ~hereof, sha~I :ontain the uw~l s~anda~d mortgagee clause or such o~her clause as the Me~t9ayee may ieqwre, mal.ing the loss undai aa~d po c~es, each and every. pay~bte to sa~d hIJRiGAGEE as its iroer<st may appear, and each and every such poi~cy shall be promptty ass gnrd and de~~~errd ~ any he~d by said ~1lORfGAG~E as further secu~ity to aaid mor~gage debt, and, not less ~han ten {10) days i~~ ad+~nce of the expuat~~n of eoch po1~tY. ~o d~ I,ver to sa~d MORIGAGEE a renewal thereof, toge~her with a receipt }or ?he premium of such renewa!; and there shall ba no i~re or wi~~ds~c~m insurant piaced on any of sa'.d b~~!d~~~gs, any interest there~n or part the~eof, unless in fhe fo~m and with the loss paya6!e as aforesaid; an~ in the event any sun of money becomes payable under suth policy o~ poLc~es said MORTGAGEE shall have thr opt~on fo rec_=i.•e ~nd app!y the sa;ne on accou:~l of the indabt~d nass sec~reJ hereby o~~ o permit e3~d 1110RTGAGORS to retz~ve and use it or any parl the:cof tor o;n~r pur; os_•s. •:.n1~o~t ~h u~ w..~v~ 4r ing any equrty, lien or right undrr or by v~nue of this moragage; and in the event sald MORiGAGORS sha11 4or any reason fail to kcep the sald p~emises so insur~~d, or fail fo de+iver promptly any of Said polit+es ol insurance to said MORTGAGEE, o~ fail p:omptly to pay fu~ly any pr2nu~m thcrefor or in anY re:pect fail to periorm, d~sch~~9e, execute, e+iect, cv~r~plete, tomply with and abide by this tovanant, o~ any part hareof, said ~duRTGAGEE may p~ace a~~o pay for such insurance or any part thereof w~thoul waiving or affecting any option, lien, equity, or r~ght under or b~r virtue of this htiorrgage, and thc iu~f d~n6Y~l) Ot ceCn dnU eVB~y Sutli Fiay~+~c~.~ ai.ai: i.c ~~~:alCu':uFc:~/ u~G .;.u N+'~~~~~ L:l'~ 3~3i1 bn3. :n*n.net frnm Ihe [~ate ~h~reof Ui~til DJ~t~ dl t~12 ldtC 01 n~ne per cemum per annu:n o+,d to~a~h~~r ~~ith such interust shali be secured by the lien of this mortgage. 4. To permit, commit or suffer no waste, impairment or deterioration of said property or ar.y part thereof. 5. To pay all and singula? the costs, charges and expenses. including a reasonab~e attorneY~s fee and costs of abstracts of title, incurr~d or paid af any f~~r:e by s~id MORTGAG:E, because or in ihe evem of the failure on the pan of ~he said MORiGAGOR to duty, prornptly end f~:ly perform, d~scharge, _.~:cute, efiect, complete, comp!y w~th and ab.de by each anQ' every the stipulat~ons, agreemants, cond~fions, and covenants of sa~d pro~r."ssory note and ~his ~.ortgage any or e~~her, and sa~d costs, charges and expenses, each and every, shall be immediale~y d~e and payable; wherher or not there kx nor~~e d~ m„nd, atte~npt to colleci or suit pend~ng; and the full amourt of each and e~ery such paymem shall bea~ interest from ~he date thereot until paid at the , r. o- n~ne per c~•nwm per an~~u:n; on~ ~u said wsts, charges and expenses incurred or paid, ~ogether wdh suth imerest, shall be secuted by the lien of thi~ mortgage• 6. That (a? in the event of any breach of this Mortgage or defaul~ on 1he part of the MORTGAGOR, or (b) in tFw event a~y of sa:d sums of money t,crein referred to be not promptly and futly paid w~thin th~rty (30) days next after the same severa:ly become due and payabte, without demand or no~ice, er (c) in thr event each and eve~y the stipulations, agreements, conditions and covenants of sa d promissory note ar~tl th~s mortgage any or e~~her are not iuly, p~omptly and iulty periormed, dscharged, execured, effected, compteted, compl~ed wirh and abided 5y, then in either a any such eve~~ the sa~d ag 3rega!e s~m mentwned in sa~d pran~ssory nore then remaining unpaid, w~th interest accrued, and aii moneys secured hereby, shall become due and pay ab e iorthwith, or thereafter, a~ the opnon of said MORTGAGEE, as fully and compte~ely as if all of Yhe i~i~ sum! of mooey were or~gin~lly snpuiated :o be pa~d on such day, anything in sa:d promissory note or in this Mortgage to the contrary notwi~hitand~ng; and there~lpon or thereafter at the optwn of sj:d MORTGAGEE, without no+~ce or demand, suit a1 Iaw or in equity, therefore or thereafrer begu~, tpay be prosecuted as if~all moneys secured hereby r.,:d matured pnor to ds institution. , , That in the event that at the beginning of or at any time pend~ng any suit upon this Mortgsge,. or to foreclose it, or•to relqrm it, or fo enforce : ayment of any cla~ms hereundrr, said M02TGAGEE shall apply to thr Court having ~unsd:ction thereo4 for the appo~ntment of a Receiver, such Cevn shail t~r:hwith appoi~t a rece~ver of said morigaged property alI and singular, i~cl~d~ng a~l a~d sirgula~ fhe ir.come, prof~ts, issves and revenues from whatever s: urce derived, each a~d every of whkh, it being expressly understood, is hereby mortgaged as if spec~f~caily set iorth and destribed in the grannng and h,!,endum clavses hereof, ar.d such Receiver shall have all the broad and effective furtct.ons and po•ners in anyw~se emrusted by a Court to a Receiver, and s_ch appointment shail be made by such Court ~s an admitted equity and a matter of absolute right to said MORTvAGEE, and wishout re~erence to the a~f~,~yu~cy or inadequacy of the value of the property mortgaged or to the so~vency or inso~vency of said MORTGAGOR or the defendants, and thal such r~=~,rs, profits, incane, issues and revenues ahall be applied by such Receiver accord:ng to the lien or eq~ity of said 610RTGAGEE and the practice of such Court. 8. To du!y, prompt;y and fully perfo~m, discharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, co~~~tions and covenanrs in sa~d promissory note and this mortgage set forth. 9. That in the event the ownership of the mortgaoed premises, w any part thereof, becomes vested in a perwn other than the MO~CTGAGOR, the :'ORTGAGEE, its svccessors and ass~gns, may, without nor:ce to the MORTGApR, deal with such successor or successor in interest with reference to this o•~gage and the debt hereby secured in the same manner as with Mortgagor without in any way vitiating or discharging the Mortgagors' liability here- :;•~der or upon the debt hereo~ sec~red. Mo sale of the prem~ses hereby mortgaged and no forbearance on the pari of the IAORTGAGEE or its svccessors o~ ass~gns and no eatens~on of rhe ame for the payment of the debt hereby secured g~ven by the MORTGAGEE or its successors or ass;gns, a:ia0 operate _ii__. e_~,~~~. •.r.otr_nr_no 1.e...:.. e:~1.o. . ...6nln ro in nar~ :u rr~eoar, u~xi~e~yr. n~..u~~y il~o„yn o~ ~..t o::y:r.a~ .....,....i , , 10. It is specifically agreed ~hat time is of the essence of this contract and that no waiver oi any ob~~gation hereunder w of the obligation se- cu~ed hereby shati at any time ~hereafter be held to be a waiver of the terms hereof or of the instrument secu~ed herby. 1 I. In addnie~ to the forego'ng month!y paym:nts of princ pa! and interest required by the prom:ssory no~e secured fiereby, mortga~ar covenants i~.d agrees to pay to moctyaqee w~th each month~y pa~rnent an add~rional sum est;mated by mortgagee to be eq~al to 1, 12 oi tile annual cost o( the follow- ~ ~ j: A-A~1 real propcrty taxas lev~ed or assesseti e93~•~st the above described real estate. B--Fr~n•~,~:,s on I~re and v~indsto*m insuracce as herein requ~red to be ta~ried on the improvemeits situate on th~ above dsstribed premises. C-Prem~v~ns en such mortg,ge g~aranty ir.surar,ce as mortgagee shatl from ume to time deem !it to tarry on the loan sewred hereby. I Mortgagee sha l fram thne to t~:ne notify mortgagor in wr~t~ng of 1he amount due and payable hereunder and such sum shatl thereupon be due and i , yable on the d.~c~ date of the next n:onth:~ payment and eath successive momh Thereaft~r ur.til mcrtgagee shall notify murtgagor of a change in such ~ ,:~~~t. Such s~ms s~a:i be appiiecl by morigagee toward the payment of rea~ property taxes, ins~rance prem:ums, a~~d mort~age guaranty insurance { , •emi~ms. - ^ IN 1'lITP~E55 'NHEREOf, the sa~d MORTGAGOR has hereunto set his hand and seal the day and year first aioresaid. ~ ~ Si ned, Sealed and d livered in the presence of: /v ~ Q _ ~c.,` ~~1,..~.~-~-~2'lC!&'~~~ (Seal) _ ~C rles Cornelius ~sesi~ ( 0~7 ~ l5eaq Patsv Cornelius ~~aq SiATE OF fLORIDA 1 _ , , ,-':~'4!. ~ . : . ~JUNTY OF 1-q~le I ~ .:d~"t . 5._ , - - Before me rsonall a eared Charles Cornelius ~ti~~'~~i~j and Pe Y PP . . r, _ ~ t: ~~t S V COl fle 11 Ll S his wite, to ene~ vlr~el~ Ic~wvy`p ~an1d. ~ ~o ~~a ~ ;h~~ individuats described in and who executed the foregoing instrument, and acknowledged befwe me that ~~}?t~~tha ~la~ i purposes -M ' . . . Pat s Cor ne 1 iu s ' ';~`r`~%~` rhe.ein expressed. And the said__ _ r+~fe of the sa~d _ Charles COIII@I111S • upon ~rtd private e~am~natlon by me taken separete and apart from her said husband, acknowledged to and before me that Cu~ed,~i~;~ri}J~~. *f~ _~nd volun- r,;r~iy and w~thout any compulsion, constraint, apprehension, or fear of or from her said husband. ~'f S' ~~w~~. ~ j WITNESS my hand and official seal i?,~:_. 6th day of ~CtO % ~•~C p. 19 72 ~ ~ ~ . . • ~ ~ . ~ Notary Public in and for the Stat da at lsrge A1y Commission expires: Rerurn To: HOTARY PUBLIC, STATE of FLORIDA tt LARGE First Federal Savings 3 lean Associat~on MY COMA!ISSION EXPIRES SEPT. 25, 1975 oE Fo~f v c~c~~. tionded By Americ~n Bankers Inwronce ~:o• Fort P~_rce, Flcrida ANO RECDRDE~ E1LE~C1E GOUN~Y f1. This Instrument Prepared By RiChard K. Kayes St~ RO~ER PQ~t CO RT First Federal Savings & Loan Association C~po Y~~ ~~EO ~ of Fort Pierce~ Florida itEC~ Checked By - ~DOIK / PACf ~4~ ~ Q` 239~2~ _ - ~ . .