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HomeMy WebLinkAbout2407 3. To place and continuovs~y keep on the bu~'dir,ys now or hereafter situate on sa~d land and on ati rquipment and persona~ly covered by this mw e~e, wi~h aN premi~ms thereon Na:d ;n iull, fre insurance in ~he uwal standard potity form, in a wm approved by the h10R(GAGEE, and windsto ~nsur~oce in ihe usual standard pol~ty form, in a wm approved by the MORTGAGEE, in sucw company or companies as the MORTGAGEE m d~rect; and aU (iro ar;d w~ndsiorm insurance policies on any of said }wild~ngs, any inteiest therein or pa~~ thereof, in the agg~~gare sum aioresaid in eaccss thcreof, shall :ont~in the usual star.dard mortgagee clause o? such other clause as the Mo~tyagee may requ~re, maMing the toss undrr sa~d po ~ c~es, each and every, payob!e to said ~IORTGAGEE as its interest may appear, and each and every such poticy shall be promN~ly ass gned a~~d del~vered : any held by sa~d h10AlGAGEE as further secvri~y to said mortgage debt, an~, no~ ~ess Ihan ten (10) days in advance ol the expirat~on of each poGCy, to d~ I:ver to ia~d MORlGAGEE a renewal thereof, togeihe~ with a rece~pt for the p~emium oi suth renervaf; and ~here si~all be no f~re or windsrorm insuranc pljced on a~y of said bu~tdings, any inreresf there+n or part thereof, unless in tht form and wiih Ihe loss payable as afo~esaid; and in the evenl any sun of money becanes payable undrr wch poliq or pol~cies said /dORTGAGEE shall have the op~~on to rec~~ve and app!y the same on account of the indeb~~d nzss setured hereby or to permit said 1AORTGAGORS to reteive and use it w any part the:cof for a:n_•r pu~roses, ti•.air~.,t ih_•. u~ ~v.:~~i ~3 or ~~np~ir ing any equ~ty, lien or right under or by virtue of this mo-!gage; and in the event sa~d htORTGAGORS shatl for any reason iail to keep Ihe sa~d premisra so Inwred, or fail ta del~vei pro~~ptly any of said pol~c:es of insurance to :a~d MORTGAGEE, or f~it p:ompt~y to pay fu(ty any pre~n;urn therefor or in a~y respect (aif to perform, discharge, execute, eifecf, tar.plete, comply wirh and abide by this covenant, or any part hareof, sa~d MORTGAGEE may piace a~~o pay for such insur.,nce or any pa~t thereof without waiving or aifecling any option, lien, equity, or ~ight under or by vir~ue oF this Mortgage, and the t~ll amouM of each and every wch paymeM shall be immediately due and payabfe and shall bea~ interesf irom tha date thereof unti! paid at the rate of ~~:na per centum per annum and to~ether with s~ch interost shaR be secured by the lien of this mortgage. ~1. To permit, commit or sufle~ no waste, impairment or deterioration of said property o? any pa~t thereof. S. To pay all and singular the costs, charges and expenses, i.:cluding a reasona6le attwney's fee and costs of abstracts of title, incurred or paid a1 any time by safd MORTGAGEE, because or in the event of the faifure on the part of ~he sa;d MORIGAGOR to duly, promptly and fuliy perform, discharqe. _.ecute, etfecl, complete, comply w~th and ab:de by each and every the stipulanons, agreements, conditlons, and covenants oi said pro~nissory note and this ~~o~~gage any or e~~he~, and sa:d costs, charges and expenses, each and every, shail be immrdiately due and payable; whether or nor rhere be notice de nrand, attempt to tolJect or suit per.d~ng; and the full amount of each and every suc4 paymeM shall bear interes~ from ~he date thereof umil paid at the r o~ n~ne per cer.tum p.rr am~u:n; and all said cosrs, cnarges and expenses incurred or paid, together w~~h such interrst, shaU be secured by the lien ol this ? mortgage. 6. That (a) in the eve~t of any breach of this Mortga9e or defaul~ on tFr part of the MORTGAGOR, or (b) in the event any of said sums of money hc~ein referrrd to be not promptly and fully paid within th~rty (30) days nexl atter fhe same severa'!y betome due and payable, without demand or notice, or ~c) in thz event each and every ~he s?ipulations, agreements, cond~tions and covertants ot sa;d p~omissory note and th~s mortgage any or either are nol iuly, promptly and futly per(ormed, d;scharged, executed, effected, compteted, complied with and abided Sy, then in e~~her or any such eveM the aa~d ag- aregate sum mentioned in said promissory note then ~emaining unpa~d, with imere~t acuued, and a:i mo~eys setured hereby, shaU become due and pay ao,a forthwith, or the~rafter, at ~he oprion of said h10RTGAGEE, as fully and complete!y as ii all of ~h~ said sums of money were or~ginally st~pu:afed to be pald on such d~y, anything in sa.d prom~ssory note or in this Mortgaqe 1o the contrary not,,vi~hstandiny; and thereupon or thereafter at the opnon of sa.d MORTGAGEE, w~rhout notice or demand, suit at law or in equity, therefore or thereafrer begun, may be prosecuted as if all moneys secured hereby n_d matured pnor to As insiitution. 7. ihat in the event that at the beginning of or at any time pending any suit upon this Mo~tgage, or to foreclose it, or to reform it, or to enforce ~~yment of any claims hereunder, said MORTGAGEE shatl apply to the Court having jwisdkuon the~eof !or fhe appo~ntment of a Receiver, such Coun shail ro~thwirh appo;nt a receiver of said m~rtgaged property all and singular, inClud,ng all and singuiar the income, ptot~ts, issues and revenues irom whatever s-urce derived, each and every of wh~ch, it bcing exp~essly understood, is hereby mortgaged as if speuficaity set forth and described in rhe granr;ng and i~ ~nendum c~auses herzof, and svch Receiver shall have all the broad and efiective funct,ons and powers in anyw~se emrusted by a Court to a Receiver, and s. ~h appointment shall be made by such Court as an admitted equity and a malter oi absolut~ r.ght to said MORTGAGEE, and without reference to the a.i~~quacy or inad?quacy of the va:ue of ~he properry mortgaged or to rhe soive~cy or ~nsolvency of sa~d lAORIGAGOR or the defendants, and that such ~rs, profits,~ncane, issues and revenues shall be appiied by such Receiver accordmg to the lien or equity of said MORTGA('iEE and !he practice of such Court. 8. To duty, prompt(y and ful~y perform, discharge, execute, effect, comptete, compfy w~th and abide by each and every the s?epulations, agreements, :ond~tions and covenaros in said promissory note and th~s mortgage set forth. 9. That in the eve~t the ov.nersh~p of the mortgaged premises, o~ any part thereof, becomes vested in a pe.son other than the MORTGAGpR, the - .'.pRTGAGEE, its svccessors ar.d asvgns, may, without noTice to the ~Y.ORTGAOR, deaf wfth such suctessor w su~cessor ;n interest wi!h reference to this o~rgage and rhe dcot hereby secured in fhe same manner as with Mortgagor without in any way vitlating or d~xharging the lhortgagors' liability here- cr.der or uFwn the debt hereby sewred. No sate of the premises hereby mortgaged and no farbeara~ce on the part of Ihe /~10RTGAGEE or its sutcessors c- ass~gns and ~o eztension o4 the t~me for the payment of the debt hereby secured given by the MOR7GAGEE o~ its suctessors or ass:gns, al~all operate ro re!ease, d~scharge, modify char.ge or affect the orig,nal liab~fty of the MORTGAGOR heiein, either in whole or in part. 10. It is speufically agreed that tirne is of the essence of this contract and that no waiver oi any obligation hereunder or of the obligation se- :~red hereby shall at any time thereafter be hefd to be a waiver of the terms hereof or af the instrument secured herby. 11. In aud~tic:~ to the forege ng rnonth!y paym~nts of princ pa! and inrerest requ+~ed by the prom sscry nore secwed h~reb~r, mortgagor covenants d agrces to pay to n:o-tgagee v~,~th e+ch month!y pay~.,ent an add,~iona{ sum ~st~n,ated by mortgagee ~o be equal to 1;' 12 of the annual cost of the foliow- A-All real property tax~s levied or assessed a6ai•ist tFe above describcd real esrate. B--PfCR:V:/!RS on f~re and windstonn ensurar.ce as here~n requ:red ro be canied o~ the ~mprovements situate on the above d.scribed premises. C-Premiun~•s on s~ch mortgage guaranty ir.surance as morigagee shail from t~me to time deem fit to carry on the loan secured hereby_ Mortgagee shail frcm ti~r~e to t~me notify mortgagor in writing of the amount due and payable hereundar and such su~n shail tfiereupon be d~e and ;~;,~bte on tha due cia!e of rhe n~xr monrh!y payment and each wccessive monrh fhereaftcr ur.tiV mortgagee shall notify martgagor of a change in such ~ ount. Such sums sFa:I be app:ird by mortgagee toward the payment of real property taxes, insurance prem:ums, and mortgage guaranty ins~rance F-,-erniums. iN \'IfTNESS '.YH:REQF, the said MORTGAGOR has hereunto set his hand and scai the day a year first aforesaid. i ned, afed and deliv in the pr ence of: I~ ~ L~r~~~ ~ ~ /(/}OI1d • ~OI @S Sea!) ($eal) L'.Lll~_ ~ - 5 3~H.~'b tSeal) tSeal) STATE OF FLORIDA ~ ~aUNTY OF SL~ L~1C~Q ~ Before me personally appeared flnnf~ ld A Farhpa and Sara H. Rorbes his wiie, to me well known and known to me to be rhe individuals described in and who executed the foregoing instrument, and acknowledged before me that they executed the same for the purposes rh~rein expressed. And the said S r H Forbes +:'Fe of the sa~d ~nald A. Ror @S , upon a separate and private ~~.am~nat~on by me taken separate and apart irom her said husband, acknowledged to and before r:x that she executed said instrument freety and volun- ~a ,',y and w;~hout any computsion, constraint, appreh nsion, w fear of or from her said husband. WITNES$ my hand and official seaf this- day of A. D. 19~~_ Notary Pvbtic in and for the Stat of ftorida at large Return To: My Co~yuion expires: first Federal Savings a Loan Associat;on ' ' MOTARY PUB~_IC, STATE M FI~RIDA at L,pR6~ Of Fort P:.::ce. t`~ ~ MY COIA„:IS";~11 E::IRES :~PT. 25. 1975 Fort P~erce. Florida ~y ~~f~~ d's~lltsts IF,w(~IIp~ C~ c ' , ' - _ _ " ~ f : : ~ ~ = /i~EO AMa REC~~oED This Instrument Prepared By G. F. EllMOOd " fT.IUC(E vbUN Y fL~. Firsi Federal Savings 8~ Loan As~p ciaijon ~ : RD~C~ ~'~~TIiAS ~ of Fort Pierce ~ Floric~? O~FRK c~i;i,vlf COURT . ' RF.C~3R't v~K~~+fU Checked 8y • ~ f Ol AN Z ~~oK 2~7 ~acc 2~06 241U'70 - - - - _ - - _ _ ~ ~ ~ _ - Y.~~~ ; ~ ~ , _ -w~_ .