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Home My WebLink About2411 3. To place and continuously keep on the bui'dings now or he~ea(ter ~ituate on sa~d la~d and on alt cq~ipment and personally covered by this ma age, with al~ premiums thereon pa~d in full, fire insurance in the usual staexiard potity fo~m, in a sur.~ aHproved by the MOR~GAGEE, and windsro ~nsurance in tha usual itandard pol:cy lorm, in a wm approved by the MORTGAGEE, in wch company or companies as the ti10RiGAGEE m d'uect; and all iire and w~nJstorm ensurance policies on any of said build~ngs, any interesl therein or pari thereof, in the aqg.egate wm aforesaid in excess thereof, shall tontain the usual s~a~~dard ma~gagee clause or such aher clause as the Mo~!gayee may requ~re, meking the Icss undcr sa~d po des, each and every, pay~b:e to sa~d hWRTGAGEE as ita interest may appear, and each and every such po:icy tihall be prort~ptty ass gned a~~d de~~~ared , any hetd by said MORfGAGfE as furthcr security ro said rt:ortgage debf, and, not less than ten (10) days in advance of the expirat~on oi each p:.l~cy;~ta d~ I~ver to said MORTGAGEE a renewal thereo~, toge~her wi~h a receipl fo~ the premium oi such rene•aral; a~~d there shall be no Gre o~ windsto~~n insuranc placed on any of sa~d buildings, any interest therein or part thereo(, unless in the form and wirh the ioss payable as afo~esaid; and in the event any sun of money becomei payable undrr wch poiity or poGcies said MORTGAGEE shall have ~he opt;on to receive and apply the same on accoun~ of tAe i~~drbt~d ness scwred hrreby or ~o pe~m~t sa~d /AORTGAGORS to receive a:~d use it w any parf thereo~ ior o;ic•r Nur,,~ses, v,:ti~,,;t ih,•~u~ .r.:i.~,~ „i ~•~~pae. ing any eq~~ty, lien or right unda~ or by r~~ue o! this mc:'gage; and in ~he event sa~d MORTGAGORS shall for any reason fail ro kerp the sa~d premises so ~nsured, or fail to delive~ promplly dny of said policies of insuran~e to said MORiGAGEE, or faif ~romptiy to pay fuity any pren~~~m thcrelor or in a~y respect fail to perform, discharge, execute, effect, complete, compty wiih and abide by this cove~an~, or any part hrreoi, said MORTvAGEE may place a~~d pay fo? such insurance or any part thereof without waiving or aHeUing any option, lien, equity, or right under or by virtue of this Mo~tgage, and the fufl amount o# each and every such paymem shall be immediately due and payable and shail baar iNerest from the date thereof ~~:i! paid at rhe rate o1 n:ne per centum ~r annum ~e~d to?caher wifh suth interest shali be Secured by 1he lien of this mOrtgage. 4. To permi?, commit p suffer no wasle, impairment p deterior~tion of said property o~ any part thereof. . 5. 1o pay all and singular the costs, charges and expenses, ~ncluding a reasonable attorney's fee and costs of abstrads of title, incurred or paid at .~ny time by sa~d MORTGAG.E, because a in the event of the failure on the part of ~he said MORiGAGOR to duly, p.on,pNy and fully perform, discharge, r _xccvte, eflett, tornple>e, comply w~~A and ab:de by each and every the stipulat~ons, agreements, tonditions, and covenants oi said promissory note and this ,wrrgage any or ei~her, and sa~d cosrs, charges and expenses, each and every, shall be immediafely due and payab!e; whether or not there be not~ce da n,and, attempt to cotlect or suit pending; and the full amount of each and e~ery such payment shall bear interest from 1he date thereot until paid at the ~.ne oi n~ne r:~ cen:um prc ann~:n; c~~d alt said cos~s, charges and expenses incurred or pa~d, toge~her ~v~th such interest, shall be secured by the lien oi thi~ morrgage. b. That (a) in the event of any breach of this Mortgage or default on the part of the MORTGAGOR, or (b? in the event any of sa:d sums of money s herein referred to be not prompt{y and fu~ly paid within thuty (30) days next after ~he same seve~ally becomt due and payable, wi~hout demand or notice, ~ or ;c) in the event each and every the stip~~ations, agreements, cond~tions and covenants of sa:d promissory note and th~s mortgage any or either are not ~ j~ly, promp?!y and fully performed, d:scharged, executed, eifected, completed, complied wi~h and a6~ded hy, then in either or any such event the sa~d ag 3regate sum memioned in said promissory note Ihen remaining unpaid, with interest atcrued, and a~l moneys secured hereby, shafl become dve and pay- g ao,e fo~thwith, or thereafrer, at the opt~on of s.,[d 610RTGAGEE, as fv7ly and corr.plete!y as if all of the sa~d sums of money were onginally stipu:ated 4 to bc pa:d on such d~y, anything in sa.d prom:ssory note ~n this Morfgage to the tomrary notwithstand~ng; and thereupon or thereafter al the option of ~ s~.d MORTGAGEE, w~thout notice or demard, suit a1 law o~ in equity, therefore or thereafter begun, may be prosetuted as if a!1 moneys secured he~eby = r,:d matured pnw fo ds institWion. { f 7. That in the event that at the beginning of or at any time pendi~g any su~t upon this Mortgage, or to foreclose it, or to reform it, or to enforce t payment of any claims hereunde~, said h10RTGAGfE shall apply to the Coust having ~ur~sd,ct;on thereot for the appointme~l of a Receiver, s~ch Court shall FcrThwith appo:nt a rece+vei o1 said morfgagrd property all and singuiar, includ~~g a~l and singular the intome, profds, iasues and tevenues from whatever ~ se~rce derived, each and every of wh~ch, it be~ng expressty understood, is hereby morrgaged as if spec~fica~ly set io~th and described in the g~anting and ~ h,bendum cfa~ses hereof, and such Receiver shail have all the broad and effecrive funchons and powers in anywise entrusted by a Court to a Receiver, and s::h appointment shall be made by such Court aa an ad,nitted equity and a matter ot absolute right to said MORiGAGEE, a~d withoul re(erence to the adequacy w inadequacy of the value of the property mortgaged or 1o the so:v~ncy or inso!vency of said fHpRiGAGOR w the defendants, and th;t such 1 re~,rs, profits, incane, issues and ~evenues shall be app{ied by such Receiver accord~ng ro tFe !ien or'equil'y of said MORTGAGEE and the practice of wch ~ourL 8. To du1y, prompt:y and fully perform, d~scharge, execute, effecL complete, comply v~ith and abide by each and every the stiputations, agreements, ; :onditions and covenan~s in sa~d promissory note and this mo~tgage set forth. 9. lhat in the event the oN~nership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the :'~RTGAGEE, its sucwsso~s ard ass~gns, may, witho~~ notice to the MORTGAOR, deat with such successo~ or svccessor in interest with reference to thie ^ o~tgage ar.d the debt hereby secured in the same manner as with ldortgagor without in any ~vay vit;ating or d~scharying the /Jlortgagors' liability her~ ur,der or upon the debt hereby sec~rtd. No sale of the prem~ses hereby mortgaged and no forbearance o~ the part of the MORTGAGEE or its successors or aszigns and no extension of the tirr.c io~ 1he paymeM of the debt hereby set~red given by the MORTGAGEE or its successors o~ aszigns, a~tall operate to reiease, d~stharge, medify change or affect the orig~nal IiauJity of the MORTGAGOR herein, either in whote or in part_ 10. It is spec~fically agreed that time is of the essence of this contract and that no waive~ of any obl~gat~on hereunder or of the obligation sN c~~ed hereby shali at any time ~hereafter be held to be a waiver of the terms hercrof w of the instrumeM secwed herby. 11. In acid,t~o~ !o the iorego'ng momh!y payments of prlnc pal and interest required by the promtsscry note secured hereby, mbrtga~or tovenanis i~:d agr~es to pay to mortgagee v.~th each month:y pay~r:ent an add~~ional sum est~mated by mortgagee to be equal to i; 12 of tl~e annual tost of the follow- A-AU real property tax:s iev~e;: or assessed agai•ist thc above described real estate. 6--Pr~nuu~ns o~ fire and wir.dstorm insurar.ce as nerein requ~red to be cairied on the improveme~ts s;toate on thr above d~scribed premises. C-P.emwms o~ svch mortg~ge guaranty ir.sura~.ce as mortgagee shall frorr. t:me to time deem fit to carry on the loan secured hereby_ Mortgagee sha~I f~cm time to time norify mortgagor i~ writing of the amovot d~e and payabte hereund:r and such sum shall thereupon be due and .:rable on ?ha due dare ei th> ~~ext n,cn:h;y paym~nt and each succeszive month therea(ter ur.til mortgagee shaR not~fy rnortgagor of a change in suth ount. $uch sums s6a:f be ap~•:~ed by martgagee toward the payment of real property taxes, insurance prem;~ms, and mortgage guaraMy insurance ~ : ~'cmiums. IN \'JtTNESS `+':HEREOf, the said MORTGAGOR haz hereunto set his hand and seaf the day a ar first aforesaid. ~ Signed, Sealed and delivered in the presence of: ~r, _V~ al) - - ~ • M A1 Y Z (5eaq - (Seaq - - SeaQ ~ SiATE OF FW4IDAFIOYida ~ ~ ' ~OUNTY OF ~dB ~ i - ~ ; Befo?e me perwnaNy appeared .~OQ M~ Alvarez and ~ Clyda M. Alvarez his w~fe, to me well known and known to me to be th_ individuals described in and who executed the fcxcyoing instrument, and atknowledged before me that thay executed the same for the purposes rhe~ei~ expressed. And the said Clyda M. Alvazez f~ Joe M. ; ' r+~fe of the said ~ ~V~aZ upon a separafe and Frivate ~ c~am'rrtatio~ by me takan separate and apart from her said busban~, atknowledged to and before me that she execvted said instrumem free{y and voiuo- `~~+ly and w~thout any compulsion, constraint, apprehension, or fear of a from her said husband. WITNESS my hand and official seal this_ .Zv day of A. D. 19 72 ~ ~ ~ Notary Public in and ~or the State of F a et large i My Commission expires: ~ _ ~ Return To: First Federal Savings b Loan Association - ' Of Fon P:erce. ,,`~~~i!IH~~~~~I,. Fort Pierce, Florida i ~v ~ ~ ~ : . j . _ ~ - ~ ~E~~~;pED ~ ~ ' ' ~ ; f11E0 IE ~OUKT`1 fl~• ; . ~.•1 : C - ' u s I~ r - i This Msirument Prepared By J. H. Roberts Ji. st ~~~E ~;:.~;U t ~~at ` v"~~ ~ Firsf Federal Savings 8~ Loan Association ~ ~~E~ jE=~~'`f' = : ~ 1-' ' ~ ~ i of Fort Pierce ~ Rlorida RF~r~ `U f~~ ~ ~ ~ . ~ ; ~ Checked 8 _ ~ , ~ ~O pT' ~ F y -.x 1' 1 ~ ~ z41o~z ~ 3~GGK ~O~ PACEz4~,O ~ ls ~=1 ~ - ` - f~ ~ ~ a- _ . ? ~