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HomeMy WebLinkAbout2334 3. To place and continuously keep o~ the bu~:dings now or herea(ter ~ituate on sa~d land and on ali equipment and personally covered by this ma ege, with all premiums thereon pa~d in fuil, fire :nwience in the usual standard pofity form, in a sum approved by the MOR'iGAvEE, and windsto ~nsvrance in the usual standard po:•cy (o~~n, in a sum approved by the MORiGAGEE, in suth company or to:npan~es as the MORTGAGEE m diretl; and all fire and windstorm insurance polic~es on any of said build~ngs, any interest therein or parl there.~f, in the aggrega~e sum aforesaid in excess ~hereof, shall contain the usual standard mortgagee clause o~ such other dause as ~he Moityagee may requ~re, making the ioss unde~ sa~d po c~es, each and every, payab!e to said A10RTGAGfE as ~ts interest may appear, and each and every such po::cy shall be promptly ass qned and de:ivered ~ +^.y held by said 610RtGAGEE as further security to sa~d mortgage debt, and, not less than ten (10) days in advance oi the expiration of each policy, 1o d~ I~ver to said A10RTGAGEE a renewal thereof, togeiher with a rece~pt for the premium of such ~enewal; and there ahall be no (~~e or windstor~n i~suranc placed on any of said buildings, any interest therein w parf thereof, unless in the form and with the loss payable as aforesaid; and in thc event any sun of money becomes payable under such policy or policies said MORTGAGEE shall have ihe apt~on to receive and app!y the same on accounl of the indebted ness sewred hereby or to permA said MORTGAGORS to reteive and use it or any pa~t the+eof for o:l~~ r purE oi~s, .v~ilio~t th_~r::r l1'JIYL13 cr ~~np.:~~ ing a~y equity, lien or right under w by virtue of this mortgage; and in the event said MORTGAGORS shall for any resson fail to kaep the sa~d premisrs so insured, or (ail fo'deliver promptly any o( said po~:tizs of insurance to said MpRTGAGEE, ot fail promptly to pay futty any pre~n~um the~efor or in a~y reipect iail to perform, discharge, execute, e(Fec1, complete, comply with and abide by thia tove~ant, o~ any parl hareof, said MURTGAGEE may place antl pay for such insurance or any part thereof without waiving or affecling any option, lien, equ:ty, or right under or by virtue of this Mwtgaqe, and the full amount of each and e~ery such payment shall be iminediately due and payable and shall brar interest from ~he date thereof un~il paid at the rate o1 nme per ceMum par annum und to~ether with such interest shati be sc~cured by the lien oi this mortgage. 4. To permit, commit or suffe~~no waste, impairment or deterioration of said property oa any part Ihe~eof. S. To pay all and singular the msts, charges and expenses, includi~g a reasonable atio~ney i fee and costs of abstracts of title, incu~red or paid at any tiine by said MORiGAGEE, because or in ihe even~ of the fa~lure on ~he part of the said MORTGAGOR to duty, pron,ptly and fully pe~form, d~scharge. execute, effeU, complete, comply w~th and ab:de by each and every the stipu~ations, agreements, conditions, and covenants of said promissory nole and this n,ortgage any or either, and sa~d costs, charges and expenses, each and every, shall be immediately due and payable; whether or not there be notice da ma~d, attempt to cotled or suit pend~ng; and the (ufl amouM of each and every such paymeN shall bea. interest from the date thereof~ u~til paid a? fhe .~~~e o~ nine per crntum par annum; a~~d ail said costs, chargei and ex~nses irxurred or paid, together w~1h auch interest, shall be secured by the lien oi thi~ mortgage. 6. That (a) in the event of any breach of this Mwtgage or default on the part of the MORTGAGOR, w(b) in tfie event any of sa:d sums of money herein referred to be not promptly and fufly paid within thirty (30) days next after the same severally become due and payable, with.wt demand or notite, or (c) in thr event each and every the stipulationz, agreements, tonditions and cove~ants of sa:d promisaory note and th~s mortgage. any w eithe? are nol ~u!y, promptly and fully performed, d~schargad, executed, effected, tanpleted, tomplied with and ab~ded Sy, then in e~ther or any such event the said ag ~regate sum mentione~ in said promissoty note then remaining unpaid, with interest atcr~ed, and alf moneys secured hereby, shall become due and pay- abie forthwith, w thereaf~er, a1 fhe option of said MORTGAGFE, as fully and comple~ely as if all of tiie sa~d sums oi money were or~g~naity st~putated to be pald oa such d~y, anything In sa:d pro~nissory note or in this Mwtgage to the contrary notwithstanding; and thereupon o~ therea(ter at 1he opt~on of sa.d MORTGAGEE, without no~rce or demand, suit at law or in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby n_d matured pnor to ~ts mstitution. 7. That in the evznt that at the beginn~ng of or at any time pending any suit upon this Mortgage, o+ to ioreclose it, or to reform it, or to enforce payment of any cfaims hereunder, said MORTGAGEE shatl appfy to the Court having j~risdiction thereof'for the appo~~tmeN of a Receiver, suth Court shall ' fcrthwith appoint a receiver of said mortgaged property all and singular, inc:ud~ng all and singular the income, profits, issues a~d revenues irom wnate~er i scurce derived, each and every of wh~ch, it being expressly unders~ood, is F.ereby mortgaged as if sQeufically szt forth and destribed in the g~anting and • 1,~~~endum clauses hereof, and such Receive~ shall have atl the broad and effective funct~ons and powers ~n anyw~se entruated by a Court to a Recriver, and ; s~ch appoinrment shalt be made by such.Court as an admitted equity and a matter of absolute fight to said MORTGAGEE, and without reference to the ~ adeG~acy or inadequaty of the value of the property morigaged or 1o the so~venty o~ inso~vency of said MORiGAGOR or the defendants, and that wch ~ rems, profits, inco~ne, issues and revenues shall be app~ied by such Receiver accord~ng to the lien or equity of said MORTGAGEE and the practice oi wch CourL 8. To duty, .promptly and fully perform, discharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, conditions and covenants in sa~d promissory note and this martgage set forth_ 9. That in the eveRt the ownersh~p of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the '."ORTGAGEE, its successo~s and assigns, may, without notice to the MORTGAOR, deal with such succrssor o+ successor in imerest with ?eference to this n,ortgage and the debt hereby secured in the same manner as with Mortgagor without in any way vit~ating or d~scharging the hlortgagors' liability here- ~nder or upon ~he debt he~eby sec~red. No sa;e of the Fremises hereby mortgaged and no forbearance on the part oF the l110RTGAGEE or its successors or assigns and no extens~on of the tlme for the payment of the debt hereby secured given by the MORTGAGEE or its successors w ass~gns, a~~al~ operate rc release, discharge, modify change or affect the orig~nal liauility of the MORiGAGOR herein, either in whole or in part. 10. It is speuf~calfy ag.eed that ~ime is of tF~e essence of this contract and that no waiver oi any ob~igation hereunder or of the obligation se- c~red hereby shali at any time thereafter be held to be a waiver of the terms hereof or of the instrument secured herby_ 11. In add:tio~ to the forego ng monthty payments of princ'pal and interest required by the prom~sscry no!e sccured hereby, morigagor covenants ,nd agrees ro pay to mortgag~e v~ith each monrhiy pay~.:ent an add~rional sum esumared by mortyagee to be equal to 1; 12 of t:~e annual cost of the follow- ~n_~: A-All real property taxas le•i~e~ or assessed ag3iast thc above described mal esrate. ~ B-Prem.~u~ns on f~re ~nd windsrorm insurar.ce as here~n requ~red to be carried on the improveme~ts situate on the above described premises. i C-Pre~niums o~ such mortgage guaranty insurar~ce as mortgagee shall from t~me to time deem fit to carry on the loan secured hereby. ~ Mortgagee s~a+! f.om nme to t~me notify mortgagor in writ~ng of 1he amount due and payable hereundrr and such sum shall thereupon be due and i ;.~yable on the due ciate oi ~h= nex~ month:~ pay~.em and each successrve month thereafter ur,tii mertgagee shall notify mortgagor of a change in such ~ ,-ount. S~ch sums sha;l be apF~:ied by rrortgagee tpward the payment of real property taaes, insurante prem;ums, and mortgage guaranfy insurance ~ premiums. IN \'11TNE55 VVHER~OF, the said INORTGAGOR has hereunto se! his hand and sea~ the day and year first aforesaid. ~ i Signed, Seated and ~ red in t e presence of: ~ ~ ' aq 1 ~ S R. $C~l! lOCk SI . (Sesl) s ~ ; al) y Tina Ka? SCU! 1 ~~aq _ ~ S?ATE OF FIORIDA t St . Lucie ~ ~OUtJTY OF i Bef«e me personally appeared James R. SCLiZ10CiC~ $r and ~ Tina I~dy SCZIYlOC~C his wife, to me well known and known to me to be ~ the individuals described in and who axecuted the foregoing instrurrKnt, and acknowledged before me ihat they executea the same for the purposes rherein expressed. And the said ?ina 1~y Seurlock - r+~fe of the sa~d James R. Scurlock~ Sr. upon a separate and private e.amination by me taken separate and apart from her said husband, atknowledged to and before me that she executed said i~strument f eely.,a~d vol~ sa~ily and without any compulsion, constraim, appre ns" fear of or from her s i~ husband. - ! `i ; . . r~'9 ~ WITNESS my hand and official seal this - day of t ~ i-+ ~ ; - , . ' i -s - ~r' _ . ~ No, ry Pubfic in and fo th~State nf ida~T la~ge ~ = 4 My Commission expires: ~ ~ ~ ~-E-- ~ a Return To: ~.3 ~"1 ' ¢ ~ First Federal Savings 3 loan Association a ~ , Of Fort P.erte. ~ j~'•.~~~~ %CI~ Fort Pirrce, Florida STn~E ~{LEO Rx~' RfCORDEO ' " ~ UWL COtlNT`( fl~ ~z, ~ fT.L ~ fOtSRAS ' • This Instrument Prepared By J. H. RobeZts~ JZ. ROGE.~L~~tCOURt ~J~ 1r~ First Federal Savings 8~ Loan Association C~E~x -•,FD..rr of Fort Pierce RFCOR~ , Florida ' ,~t 29 1 H Checked By 1.~.-- W, ~ z41o22 BOOK ~O7 PACi ~J~ y " , ' `,~~s~,~' . -~r~<.