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HomeMy WebLinkAbout2964 3. To p~ace and continuousty keep on the bui!d~ngs now or hereafter •ituate on sa~d iand and on at{ eq~ip~nent and personally covered by lhis ma rqe, with all premiums thereoo pa~d in full, fire insurance in the uwal standard polity iorm, in a sum apNroved by the MOR~GaGEE, and w~ndsro u~wrance in iha usual sranda~d pol;cy (orm, in a sum approved by the MORTGAGEE, in such company or compan~es as the A10RTGAGEE m d~rect; and all iire and w~ndstorm i:~surance po~icies on any of said build~ngs, any interest therein or parf thereof, in the aggrega~s sum aforesaid ~ ;n eacess thereof, shall :ontain the usual st~ndard mortgagee c~ause or such o~her dause as the Moriyagee may requ~re, making the ios~ undrr sa~d po ? c~cs, each and every, paya~!e ro said A1pRTGAGEE as ~ts imerest may appear, and each and every such po:icy shall be promptly ass gned and delivered 1 3 any he:d by sa~d f.10R!GAGEE as f~rthe~ s:curity ~o said mortgage debt, and, not less than ten (101 days in advance ot the exp~~ation of each policy, to d~ ~ 1.er to s~~d htORTGAGEt a ~enewa! thereof, ~oge~her with a receEpt fo~ the premium ot such renewal; and there shaH be no f~re or windstonn insurant r.ia:rd on any of said build~ngs, any interest there~n or part thereof, unless in the form and with tFre loss payable as aforeaaid; and in the event any w~ of money becomes payab!e under such poliq or pol~ues said AAORTGAGEE shall have ihe opt~on to recelYe and appiy the same on accoum of the indehted ~ nrss secwed hareby or to permit sa~d MORTGAGORS to receive and use it or any part fhe:eof ior o.i,er pur; oses, v.~~ho~t ~h_•ru~ tvd~vi~~3 or ~n~pa~r ~ ~~y any equ~ry, lien or r7ght under or by virtue o1 this mo:cgage; and in the event :a~d MO~TGAGORS shafl for any reason fail to keep the sa~d premisrs so ; :nsur~d, o~ fa~l to deGver pranplly any of said poGcies oi insurance to sa~d MORTGAGEE, or fai! promptly to pay fulty any pre:nium therefor or in a~y + respaa ia+! to Ferform, d~schar9e, execute, effect, comµlete, comply wifh and abide by this covenant, o~ any part hereof, said MGRTGAGEE may place a~~d pay for such inwrence or any part thereof without waiving or affecting any option, lien, equ~~y, or righf under or by vi.tue of th~s Mortgage, and the i 1.!1 amo~nt o( each and e.ery such paymeM shall be immediately due and payable and shall bear interest irom the date thereof until paid at the rate of i ~~-~e per canwr:i per annum and ro~_thrr wi~h svch intrre:t shati be s~c~red by the !ien of thls mortgage. 4, io permit, commit or suffe~ no waste, impairment or deter~oratio~ of said property or any part thereof. f 5. To pay all and singular the costs, charges and expenses, induding a reasonabte atrorney's fes and costs of abstratls ef title, incu~red or paid at ~~y t~me 6y s~~d A~!ORiGAG:E, because or in the event of Ihe failure on the part of the said MORTGPGOR to duly, p~omptly and fully pe~(orm, d~schnrge, _,~cute, effect, complete, comply w~th and ab:de by each and every the stipulanons, agreemems, condiho~s, and covenants of said promissory note and this , ortgage any or enhe~, and sa!d tosts, tharges and expenses, each and every, shafl be immediately due and payable; whether or not there be notice da :.~~d, atrempt to coliect or suit pend~ng; and the full amount of each and e~ery such paymem shatl bear interest from the date thereof until paid a1 the - r• o~ n:ne per cenrum ~r ann~ai; ane~ all said tosts, charges and expenses intwred o? paid, together w~th suth interest, shall be setured by the lien of this :r.crrgage. ' 6. That (a) in thc event of any breach of this Mortgage or default on t1~ part of the MCRTGAGOR, or ;b) in the event any of ia:d sums of money t.~re~n referrad to be not prornp~ty and fully paid within th~rty (303 days ~ex1 a'ter the same severa:ty become due and payabte, without dema~d or notite, ,.r ~,c) in thr e~•ent each and eve~y the stipulateo~s, agreements, canditions and covenants of sa:d promissory note and th~s mortgage any w either are not ;~~:y, promprly and iully performed, d~scharged, executed, elfected, completed, complied w~~h and ab~ded 5y, then in either w any such event the sa~d ag ;~_3ata wm rr.enticned in sa~d promi:so~y note then remaining unpaid, with interest accrued, and aii moneys secured hereby, shall become due and pay ~c e ferthwith, or ~hereafter, at the option of said MORTGAGEE, as fully and completefy as if all of the said sums of money we~e originally st~pulated be pa~d o~ such d~y, anything in sa:d promissory oote or in this Mortgagr to the tontrary nor,,vithstanding; and thereupon or thereafter at the option of s: d MORTGAGEE, w~theut nonce or demand, suit at law or in equity, therefore w thereafter begun, may be prosecuted as if all moneys secured hereby r..d maturad pnor to ~ts insiitution. 7. Tha~ ~n the event that at the beg~nn~ng of or at any time pend~ng any su~t upon this Mortgage, or to foreclose it, or to reform it, or to enforce raymem of any c!a~ms he~eunder, said MORTGAGEE shall apply to the Court having ryrisdktion thereot for the appo~ntment of a Receiver, such Court shall r~-~hLVirh aF;point a rece~ver of said mortgaged property all and singular, includ.ng alt and singutar the ir.come, prof~ts, issues and revenues from whatever ~,:,~ce dar~ved. each and every of wh:ch, it being expressly unders~ood, is hereby mortgaged as if specifically set forth and described in the graroing and endum c!auses hereof, and such Receiver shall have all the braad and effective funcnons and powers in anyw~se emrusted by a Court to a Receiver, and ;h appointm~~it shall be made by suth Cour1 as an admitted equity and a matter of absolute rigM to said MORTGAGEE, and wiihout referente to the ' r.y,,;cy or ir,ndeGuacy of the value of the properry mortgaged or to ~he so,vency or insotvency of said MORiGAGOR a the defendants, and that such ,+s, profi:s, inco.ne, issues and revenues shall be applied by such Receiver accordmg to the lien w equity of said MORTGAGEE and the practice of such ~ou(I. 8. To d~'y, promptiy and fully perform, discharge, execute, effect, complete, comply with and abide by each and every the stipulaticns, agreements, ;nd~t~ons and covenants m sa~d promissory noie and this mortgage set forth. 9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the :~RTGAGEE, 7is s~ccesso.s and ass~gns, may, without notice to the MORTGAOR, deal with such successor or svccessor in interest with reference to this ~ o~~ a e ar.d the deuf hereb secwed in the same manner as with TAort a or without in an wa vi?~ati or dischar in the Mart a ors' liabilit here- { 99 Y 99 Y Y ^9 9~ 4 99 Y . d~r or upon rhe deGt hereby secured. No sale of the premises hereby mortgaged and rto forbearance on the part of the MORTGAGEE or its successors :r ass~gns and no exrens~on of the time for the payment of the debt hereby secured given by the MORTGAGEE or its successors or ass;gns, a~iall operate o re~ease, d~scharge, mod~fy change or affect the original liab~lity of the MORTGAGOR herein, either in whole w in part. 1Q It is speufrcally agreed that time is of the essence of this contrad and that no waiver of any obligat~on hereunder w of the oblgation se- ~ c~r~,d hereby sha(~ at any time thereafter be held to be a waiver of the terms hereo) w of the instrumero setured herby. ~ I 1. I:i add t:o~ !o the forego ng monthly µay~r._ms of princ'pal and int~rest required by the promisscry note secured hereby, mortgagor covenants ~ i a3r_es to pay to r*:ortgayee ~n~th each month!y payrnent an add~rional sum esum.ated by mortgagee ro be eq~at to 1; 12 of the annual cost of the follow- i i A-Aif `rcal property taxas tev~ed or assessed agai~ist the above described real esrate. • ` B--Pr,: ~,~ums on fire and windstorm insurar.ce as herein requ~red to be carried on the improvements situate on the above deSUib~l orfr~2s~ , , ~ I C-Prc ~:u~, s oo svch morigage guafanty ir.surar,~e as mortgagee shail from time to time deem fit to carry on the loan seair~e~f~eceby: • ; i tAor.g,,~ce sh;;I from ti~ne !o nme notify mortgagor ~n writ:ng ot the amount d~e ar.d payable hereundr~ and such wm th~lllhe,~~n be due an~ j .=~Ie on t6~ ch,r date of the next n:onrh'.y payment and each successive month thereait_r until mertgagee shall not~fy morlgpey q4 a~jingem such : t. Su_h su:~~s sF~a:l be app ied by mortgayee roward the payment of real property taxes, insurance prem;ums, a~~d rtp~ag~ ~ guar~Aty i~W~llte : .,~~ms. = ~ ~ v ' xRC . ~ : IN ~'~ITNESS `h'HERCOF, the saEd MORTGAGOR has Fereunto set his hand and seal the day and year first aforesaid. . ~v: ~ ed, Seated and de!' r 'n the presence of: ~ R~ R I~V$ R~t~ F lED ANQ REC4ROEC gy. ' ~ ~ . WCIC ~~UMTY FIA. ' ROGF~ ~G'TRAS ~ i c har A F lani ' t~~ . ? 1 s z d~~ Q_ CLEFK CI ':UIT COURT ATTEST • ~ 5eaq p`~ ~ ~E`' . Ali e 1 ni n Secretar aU ~ ~ Treasurer - - - - - ~ - --i~ ~s,i~--~---- - - - - - - - - STATE OF FLORIDA 2~~ `O COUNTY OF ST. LUCIE I HEREBY CERTIFY, That on this -_~~~Slizday of August , A. D. 19 72 , before me personally appeared Richard A. Flaniqan ~ and Alice J. Flanigan respectively as President and Secretary -"rreasurer , of D and R Industries Inc. Floiida ~ ~ , a Corporation, to me known to be the persons described in and who executed the foregoing instrument and severally acknowledged the exe- ~ ~ ~ ~ cution thereof to be their free act and deed as such officers for the uses and~r.po~es t~e'~ mentioned; and that they affixed thereto the official seal of said corporation, and the said instruJ~lg~+t•is -1fi~ ~t -an~! ~'deed of said corporation. ' WITNESS m hand and official seal at Fort Pierce ,t~"saiQcou Y ~ ty er~d:state. This instrument prepared by "d' Richar.d K. Kayes - „ • Notary Public, ~~nd~o • tate•and C nty aforesaid. ~ First Federal Savings and L-oan /lssociat:on of Fort Pierce, Florida MyCommissioh.E~C '~~r S~~''~~MpTqRypUBtIC.STATE~FLORIDAetIARGE . I~ttt ~OMINISSION EXPIRES SEPT. 25, 1915 Z Bonded By Ameriwn Bankers Insurance ,,o. ~ Checked By B~ox207 P~~E2962 r~, ~ ~ . r. . ~ ~ .