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HomeMy WebLinkAbout0550 9. To p~ace and continuously keep on the bui~dinqs now ar hereafte. a~tuate on said land and on ali cquipment and personally covered by this mor age, w:th a11 prrm~ums thereon pa;d ~n tuH, f~re i~uurance in ~he usual standard poticy form, in a sum approved by the MORIGAGEE, and winds?o Insucante in the usual standa~d poLCy form, in a swn approved by the MORTGAGEE, in s~ch tompany or canpan~es as the h10RTGAGEE m d~red; and all ti~e and w:ndseorm ~nsurance poGues on any of sa~d buifd~ngs, any imerest thc~em or part thereof, in ~he aggrzgate sum aforesaid in extess Ihcreof, shall comain the uwal sta~idard mo~~g:~gee ciause or suth olhet dause as fhe Mortgagce may requ~re, ma~ing Ihe loss u~de~ sa~d po c~es, eath and every, payab:e to sa~d h1JRTGAGEE as ~ts interest may appear, and eath and every such puiity shatl be promptly ass gned and deiivered ~ any hetd by sa~c{ h10RiGAGFE as furihcr security to sa~d n,ortgage debt, and, oot leu lhan te~ (10) days in advance of the expiration of each pa6cy, ro d~ Gver to said AtORTGAGEE a renea.al thereof, toge~her wiih a receipl for ?he premium of such renewal; a~id ~here shail be no f~re o~ wir.dsto+m insuranc placed on any of said b~i!d~ngs, any interest the~e~n or par~ thereof, unless in the form and with Ihe loss payabte as afo~esaid; and in the event any sun of money becomes payatle under such policy or poGcies said MORTGAGEE shall have the opt~on to rec•_~ve and apply ihe same on accouro o( the indebted ness secured hereby or ro perm~t said MORTGAGORS to receive and use it or any pa.t tnr:eoi ?or o:i~cr F.Ulf~OS[5, ~v~~ho.;t ihr~ur ~v.:~+~~3 0~ ~~~~~::~r' ing a~~y equ~ty, lien or right under or Ly v~rtue of thia mc-rgage; and in the event sa~d MORTGAGORS shall For any reason fail to keep the said premisrs so insured, or fail to del~ver promptly any of said po~~cies oi insurance 1o sa~d MORTGAGEE, or fail prompNy to pay fully any pre~nw~n therefor or in a~y reapect fail to per£orm, dis:harge, eaecute, effect, comp!ete, comply wi~h and abide by this covenaN, or any part hzreof, s~~d MORTGAGEE may piace a~~d ~.av f~r u,ch insurance o~ any oart thereof without waivinq or af(ecting any option, lieo, equ~ty, or rigM under or by virtue of this Mortgage, and tht full a:nount of each and every such payment shall be immediately due and payable and shall brar interest trom the date inereoi un~ii poici a~ ~i~r ~oin oi ~i~ne per cemum per ann~m and to~elh~•r ~citk Such inteiest shali be setured by lhe lien o1 thil mOrtydge. 4. To permit, commit or suf!er no waste, irnpairment or deterioration of said property or any part thereof. 5. To pay all and sing~lar the costs, charges and expenses, including a reasonable attorney's fee and costs ef abslr~US of title, incurred or paid at nny t;~.,r by sa~d MORiGAG:E, beca~se or in the event of the failure on the part of the said MORTGAGOR to duly, promptly and fully perform, d~scharge. eYCCUte, effect, comp(ete, comply w~th and ab:de by each and every the stipulat~ons, agreements, cond~tions, and covenants of said promissory note and th~s ~~ortgage any or e~~her, and aa:d costs, charges and expenses, each and every, shall be immediately due a~d payabie; whether or not there be norice d~ m3~1<~, attempt to col;ect or suit pend~ng; and the full amount of each and every such payment shall bear interest from the date thereof until paid at the r~te oi n~~~e per c~•ntum Ncr an~~u:n; ar~d aH said costs, charges and expanses incurred or pa~d, togrther wdh such interest, shall be sxured by the lien of thi~ mortgage. 6_ That (a) in the event of any breach of th~s Nlo~tgage or defauft on tF~ part of the MOR'GAGOR, or (b) in the event any of sa:d sums of money hcrein re(errcd to be not pro~nptiy and fully paid within th~rty (30f days next afte~ Ihc same severatly betome due and payabie, wilhout demand or notice, or (c) in the evem each and every Ihe stipulations, agreements, conditions and covenants of sa.d promissory note and th~s mortgage any or eithe? are not f~iy, prompdy a~d (ully perforn,ed, dschargrd, executed, eifected, completed, complied with and abided 5y, then in either or any such event the sa~d ag ~regate sum menfioned in sa~d pron,issory note then remaining unpaid, with interest accrued, and atl moneys secured hereby, shal) become due and pay- ac~ e forthwith, or thereaitcr, at ihe option of said MORTGAGEE, as fully and completely as il all of the said sums of money were onginaNy s~~pula~ed fo be pa~d on such d~y, anything in sa.d prom~ssory note or i~ this Mort~age to the contrary not.vithstanding; and thereupon or thereafrer at the option of s~ d MORTGAGEE, wifhout nohce or demand, suit at law or in equity, the~efore or thereaiter begun, may be prosecuted as if all moneys secured hereby n~d matured pnor ro~ts insti!ution. 7. That in the event that at the beginning of w at any time pendi~g any suit upon this Mortgage, w to foredose it, or to reform it, or to enforce F:iymeM of any claims hereundrr, said IdORTGAGEE shall apply to the Court having {urisdictlon ~hereof for the appointmem of a Receiver, such Court shall i•~:thwith appoint a receiver of said mo~tgaged property ail and singular, indudmg atl and singular the income, prof~fs, issues and revenves (rom whatever s,v~ce derived, each and every of wh:ch, it being expressly unde~srood, is hereby mortgaged as ~f spec~f~cally set forth and described in the g~anting and F ~!:endum cia~ses hereof, and such Receiver shall have alI the broad and effective funu~ons and powers in anyw~se entrusted by a Courl ro a Receiver, and s~ch appointme,it 'sha1~ be made by such Court,as an ad:nitted equ:ty and a maiter of absolure r~ght to said MORTGAGEE, and without reference to the 3i:'_'C~:1CCy or inadequaty of the val~e of the pruperty mortgaged or lo the soiventy or insolvency of said MORiGAGOR or the deiendants, and that such r., ~rs, profiu, inco.ne, issues and revenues shall be appiied by such Receiver accordmg to the lien or equity of said MORTGAGEE and the practice of such Court. 8. To duty, promptly and fully pe~form, discharge, execute, efiect, complete, comply with and abide by each and every 1he stipulations, agreements, :cnditions and cuvcnants in said promissory note and this mortgage set forth. 9. That in the even! the ownership of the mortgaged pren,ises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the :~RTGAGEE. its successors and ass~gr.s, may, wi~haut notice to the MORTGAOR, deal with such successor or successor in interest with reference to this ~ro•tgage and the d_•ot hereby secured in the same manner as with Mo~tgagor without in any way vitiating or discharging the /dortgagors' liability here- :fer or upon the debt hereby sec~~ed. No sale of the premises hereby mortgaged and no forbearance on the part of the /hORTGAGEE or its successors o. assions and no extens~on of the time for the paymrnt of the debt hereby secured g~ven by the MORTGAGEE or its successws or ass~gns, a~~all operate ~o re~ease, d~scharge, mod~fy charge or affect the original liau~l~ty of the MORiGAGOR herein, either in whole or ~n part. 10. It is speuficatly ag~eed that time is of the essence of this contract and that no waiver of any obllgation hereunder or of the obligation se- c~~red hereby shal~ at any time thereafter be held ro be a waiver of the terms hereof w of the instrumero secured herby. 1!_ !n .;;id.t:c~ so the forego n9 month!y paym•_nts of ~rinc'pa! and interest required by the prom;ssory no!e secured hereb~, mortgagor eovenants --:d agrees to pay to r.;c:rgayee ~nith each monthiy pay~.:ent an add~rional sum estimated by mortgagee to be equal to 1~ 12 of the annual cost of the follow- A-All rcal property tsxas lev~ed o~ assessed agai~ist the above described real estate. 6- Pr~n;~urns o~ fire and windsrorr» ir.surarce as herein requ~red to be carried on the improveme~ts situate on the above d=scribed premises. C-Premiurr~s o~i such mortg;;ge guaranty ir.sure..ce as mo~tgagee shaU fror*: t~me to time deem fit to ca~ry on the loan secured hereby. ~ Mortgagee sh,i! frcm t~~ne to t~me ncr~fy mortgagor in writ~~g of the amount due and payable hereundar and such sum shall thereupon be due and ~ ~,~ab!e on she cl~e date of the ne.t month:y payment and each successive month thereafter uctii mortgagee shatl notlty mortgagor of a change in such ! ~ o~nr. Such wms s1~a:i be appiied by mortgag^e toward the payment of real property taxes, insy[~m:u:ns, and mortyage guaranty insurance f c.•em~ums. a ' ~ IN Y~ITNE55 Y:NER~Of, tF~e sa~ MORTG/{GOR has hereunto set his hand and seal tF~ day and year rst aforesaid. Signed, Seated ar.d delive d' the prese~ce of: ~ . F LED ANO RECOp~E~ S~.LUCIE COUNTY l ab ROCEii POtTRAS a4 Terry A DeMott ~~a~~ CLERK CtRCUIT COURT RECORQ_YERiF1ED~.~:• , ' ~ «a~> ' M1Che3 . D@MOtt «a~~ ~ . SiATE QF FLORIDA _ ~ 0~ Luc ie ~ 239'721 . C JU:JTY Of SL • ~ Terr A. DeMott ....u~u~r~,l;s~ ,-y Before me personally appeared ~ , ~X 1"~' to me well kno `'~;tcwpyYK~-~~l~, be rhe individuaM described in and who executed the fw oi instrument, and acknowled ed before me that h executetl~ rr~ 1tl? 'IF~e,~ s e9 ^9 9 / ~ . ~ U .~•,~~e rherein expressed. - ' ' ~ ~ ~ ~ : "~'ic~7O1 r- - ~ • c ' J : ~?2 WITNFSS my hanfl anrl r~fficirl seal ihis ~ dwv nf_ . _1. ~t~~r ~ • ' ~i ; s •p';,~..T _ 0~ ~ ~ ..-*G, STATE OF FLORIDA Notary Pubtic in ~nd for tF~ ~t e f'~/~j~~~lar4e ~ ~ My Commission expiees: 1 Y'~' r.~ ~OUfJTY OF Brogrard 1 J~~~T ~ R Before me perso~ally appeared Miehell D ~PMOtt - ~ I~ to me well known and known to me to be th~ individua% described in and who executed the `.oregoing instrument, and acknowledged be(ore me that she/ executed the same (or the purposes Michell D. DeMo F ~hnrein expressed. And the said - ,.,Ife of the sa~a Terry A• ~~Ott ,T_~:r - _ upon a separate and private e.~m~nat[on by me taicen separate and apart from her sa'd husband, atknowlpdg ~ o'nd~ ore }~a~° 1 she ezecuted sa~d instrum t freefy and volun- rar~;y and w~thout any compuision, constraiM, appre~-he^~~s , or fear of or f - 2/ YvITNESS my hand and official seal this " day ~A. D. 19~ ~ _ - J j' - . ~ Checked By ~ : c.= No~ary Public in for the Sta Fbrida at large = - ~ ~ My Commission expires: Th~s instrument re ared b J. H. Roberts ~AU ' ~"~t ~'"~'t~~• ~f Ftor~~!, P P. Y x , D LIC ~ • . _ - . ~1, 1~ ~ of Rirst Federal Savings and Loan A ssociaiEi 9~,0 ~ . r ~ ~.~'r of Rort Pierce, Rlorida f ' U R . _ ;-~,.,,~~O~,nA LUUK~O~ 'i'f,~~ ~tl~ lh l )