HomeMy WebLinkAbout0951 3. To F~t~ce and cont~nua~zty i,etp on ti~e bui:cf~r.gs now o? hertafier ~~tu~te on sa:d land and on al; ~~q~~pm~~m and personal~y covere~ by this mo~
egr, with all prrn~w~ns ih_ieon p~.J ~n full, 1~re ins~rar.ce i~t ~he uswl stsi~erd po'~ty form, in a s~~» oH~ro+cd by iha I.1UR~vaGEE, and w~~~dito
~nwrance in tha usual s+a:idard po:.cy fornt, in a sur.i appro~rd Ly ihr MORiGAGfE, i~ such to+T~pany or co:~~pan~es as tha t.tOR1GAGEE M
d~rect; and all (ir~ a~.d w;~ul~~or~n ~ns.,ranc2 po!~c~es en any of sa:d buiid:ngs. any interas~ therein or pa~t th~~cuf, in the aggreg;re su~n ato~esa~d
in excess thcreoi, shaN ;ont,m the vsval sra~~ua~d moi~y.+gre ciause w such o~hai t~ause as Ihe hlorty3gce may ~ryu.re, mal.uig ~he ~oss undrr s~~d po
c~es, each and evcry, pay.,b'r ~o so~d T.IJRTG.AioEE as ~ts int~r~st may appear, and each and e~ery wch po•c/ sho~l be p~orn~uy assg~~cd and de:i.~•rrd :
an~ he~d by s~~d f.10RiGAG~E as f~nha~ s~,c~nty ro sa~d rr~ortgage deot, and, not tess tnan ten (10) d.~ys i:~ ad:~nce of the expiroho~~ of each poircy, to d~
Gver fo Said A10RiGAGFE a renew.al ~hcr~of, to9e~htr with a r~~ce~pt fo~ 1he premium Of such rene~at; and lhcre s~~ail b2 i~o ~~re or wi~~dsto•m insuranc
placed on any of sa~d buiidn,9s, any interest-tne~e~n or part thereof, un!css in the fonn and with the luss payab!e as afcresa~d; and in the event any sun
of money beco~~~es payable unJcr s~ch polity or poLciei said h'~ORTGAG~E sh~li have Ihe opt;on to ~eC_ive .,i:d ~pE~:y t;ie same on accuunt ot ti~e indrbted
ness secured hereby or to petm~t sa:d 1'dQRSGAGORS ro retrive and use it W any p.>rt th•_:aof toi o:~^ r~.,.~; :,s•.., :~.~~....t ~h:•.::; .L_:.~ c• ~~:p-r
~rg any equity, lizn M rigfit ~ndrr O~ by virtue of this mc:tgage; dnd in the eveM sa:d MO~TGAGOR$ sha!1 `,or any reason fail f0 keeo the said premises so
~nswad, or fail to de'ivc~ prorn{,11y any of sa~d po~:c~es of irtiurante to said ldOR1GAGEE, or fa:! p:umptly to ~~ay tu~,y any pre nw~n th~r~for or in a~y
+cspett tail to pe~'orm, discharye, exrtut~~, e(fe!t, tomp:ete, to:nply with dnd abide by this covena:;1, or any {:.~rt hareof, Sa~d MvRTv~GEE may p~ate a o
pay for such insur,ince or any parl the~cof w~thou~ waiving w affecting any option, lien, equ~ty, or ri~hi ~r~~l:~ or by virwe of this Alortgage, and the
1~11 amovnt o1 each a~u1 every such pay~n~•M sha:l tx ~m,nediately due and payabte and shall 6ea~ interest from th~ date thereof until paid al the ~ate o~
•~,~*e pcr centum per annu~n .,nd to~.!h~_~r m~th suth int~-r~•st shaii :x sacured by the lien of th~s mortgage.
d. To permit, commit or suifer no waste, impairment w deteriorat~on of sa~d property or any part theraaf.
5. To pay all and singu:ar the costs, cha~ges and ex~nses, including a reasonable anorney's iee aed cesrs of abstracts of t~t!e, incurred or paid at
~n~ t6ne by s~iJ h1UR~GAG`_E, because or in ihe event of tha (a~lure on the pa~t of the said MORiGAGpR to d~~y, prompuy and fu:ly perform, d~scharge.
_.•,cute, effect, ce~npi~•te, co~nply wnh and ab.de by e~ch and eve•y the stip~lat~ons, agree~nanrs, co~dit~ons, and cove:~ants of said pro:n~>sory note a~~d ih~s
,~orrgage any or e~+her, and sald cosn, charges and expenses, each artd every, shall be immed~arely due and payab:e; whether or not fhere be no~~ce da
mand, altempt to colfect or s~it pend~~:g; and the full amount uf each and every such paymem shall bear interest from the date the~eof until pa~d at ~he
o~ ~u~ee uer c~r.:~•n µr ~n~w:n; rnd a!~ ss~d cos±s, ci~arges and cxpa~~ses ~rxuned or pa~d, torether .v~th such ~nterasr, shall be secured by the Gen of th~~
mortgage.
6. That (a) thr event of any br~ ach of ~h~s Mortgage or default o~ the pa~t of the MORTG~IGOR, or ~b) in the event any of sa:d svms of money
F.erzin referred to te r~ot pro~f,p~~y and fully pa~d wirh~n th~~ty (30! days neat a?rer ~he same se.era,ty become duc and payable, without demand or notice,
or ~t) in tha evem aach ano every the snpv:at~ons, agree.nents, cond~tions and covenants ot sad prenusscry note and th~s mortgage any or e~thet ore not
iuly, prOmptly and fully perfonned, d.xl~arged, exec~ted, effected, completed, compi~ed wiTh and a6~ded 5y, then in e.!her or any such evem the sa~d ag-
~••_gate sum menhoned in Said pronrsso~y nate tl:en re~nain~ng ~npaid, with interr,t acuued, and at~ mo~eys securad hercby, s6a~1 tx:come d~e and pay-
cc e forthw~th, er ti.c~eaf~cr, at the opf.on ot sd~d A10RTGAGEE, as fully a~x/ complete!y as if ali of fhe sa~d s~rns o( money were ongma~ly stlpu~ated
~ be pa:d on Suth d.:y, anyth~ng in sa d prom~ssory note or in tnis Mortgage to the conrrary not.v~thsta-iding; and thrreopon or thc'reaiter dt the opnon of
T d h10RTGAGEE, v~rtheut noncr o. demand, su~t at !aw or in equ~ty, the~efore or thereairer bagun, may be prosecuted as if all moneys secured hereby
c_d matured pnw ta rts institut~on.
7, ihat in the e.r~~t shat at the beginn~ng of or at any time pending any suit upon this Mortgage, or to foreclose it, or to reform it, or to enforce
;,yme~~ of any c~ain:s he•eu~~dar, said AtORiGAGEE sha,1 apply to the Court having ~ur~sd:ct!on thereof '.or the appo•ntment of a Rece~ver, such Court shaii
r; rthwith appeint a rece~ver of sa~d mortgage.d property all and singula~, indud ng ail and sin9u:ar ~he ir.come, profrts, issues ar.d reven~es from whatever
s ~~ce drr~ved, each and every of wh.ch, ~t be~n9 express;y ~ndersfoad, is hereby morrgaged as if spec;f~ca~ly set iorth and described in the grar.tin9 and
:end~m ctauses hercof, and such Rcce~.er shati fiave atl the broad and effect~ve F~ncf.ons and po~•ers in anyw~se en~rusted by a Cou~t to a Recei~er, and
,:h appoin'ment shaH be made by such Court as an ad nitted equity and a ma~re~ of absolute righ~ to sa~d MORTGAGEE, and without reference to the
.:i;quacy or inadeq~acy of tF.e valur of ~he p~operty mortgaged or to the so:vency or in;oavancy of said MORiGAGOR o~ the defendan~s, and rhaf such
-~~s, proiirs, i:~co~eie, issurs and rever.ues sha~i be appGed by such Rece~ver accord~ng to tF.e iien or eq~ity of sa;d MORIGAGEE and the practice of such
Court. ~ .
8. To du:y, promptty and fully perio.m, d~scharge, exec~te, effect, complete,•comply w~th and abide by each and every the st~puiations, agreements, 4
,o::ditions and covenants in sa~d promissory note and this mortgage set forth.
9_ That in the event the ownersh~p of the mortgaged prem~ses, or any part thereof, Becomes vested in a person other than the MORTGAGOR, the
Y~R7GAGEE, its successors a:~d ass~ons, may, wi~hout notice to the ~'tORTGAOR, deai with such successor or sutcessor in i~te~est with reference to this
_•~gage and the d_ut hereby secu.ed in the same manner as w•~~h hftortgagor w~thout in any ~vay vit;ating or d~scFwrg~ng the ~:lortgagori liabi~ity here-
~ der o~ upon the debt herebi srwi~d. No sa;e of rhe premises hereby mortgaged ar.d no forbearance on the part of the /AORTGAGEE or its successors
ass+gns and no eate~s~on ef the t~me for rhe payment of the debt hereby secured g~ven by the ~dORTGAGEE or its successors or ass:gns, ahall operate
ro re~eaae, d~scharge, modify char.ye er affect the orig~nai liab:i~ty of ~he MORTGAGOR here~n, either in whoie or in part.
i0. It is spec:f~cally agr~ed thar time is of the essence of this contract and that no waiver of any obl~gat~on hereunder or of the obligation se-
c~r=o hereby sF.a~~ at any time thareaf;er be heid to be a waiver of the terms hzreof or of the instrumem secured herby.
11. L~ .-,:i;l,t:c.~ to th~_ faego n9 ~-~o•isn`r paym.^nls of priec ral and in`erest requ~red b~ the p~om"sscry no~e secured her~~b~, mor+ya~or eovenants ,
, d agr_~s to poy to rt~o-tyay_e v.~th each monrh~y a: ent an acid~~~ ~al sum est:n:ated by mortgagez to be eq~ai to 1. 12 of tl~e annuat tosT of the foliow-
G`-t~-------_ -~"=r'~.-~ -
3~
A--AII rcal proper!y tax=s ~ev~ed or assesced agai•~st ttic above desr•ib^d real estate.
B- W:r^: u ns on i~re and v.i~idstorm insvrarce as nere~n requ;red to be carried en the im~roveme~~s s~tuate on the above described premises_
C-Prem~o:~~s oo such mo±t~ ge guaranty iesura~ ce as mortgagee shatl from t me to time deem fit to carry on the loan secured hereby.
1~tiortga~ee s~~~~l from t6ne to t~~:e ne•~fy mcrtyagcr in writing of the a^ount d~~ and payable hereundar and suth surn shail thereuF~on be due aru~
{ rab'e on th~~ ~~e ciare of ~n: n_~xt n:cath:~ payn~•~nt a~d each successive month thereaftar u~:tiS mcrtgagee shall not~fy mortgagor o4 a change in suth
~~nr. S~ch s~ms Sha.i 6e aN~ :~_d by mortgag•:e fbward the payment of real propeny taxes, insvra~ue prem:ums, aod mortgage guaranty inwrance
' .:mium5. ~ - • ~~4~
~ IN \'lITNESS L'+HeR~OF, rhe sa~d ?.40RiGAGCR has hereunto set his hand and seal the da d r irst a wesaid. `'p~pAT f
~ , igned, Sea! deliver in tfie presence of: I R~(~ ~T ; y¦. t~~
~ c ~
fILED AN~ F:iCC~ROEO BY= Joh D B is Sr: p e
~ . - ry• ~ :
~ ST. L::i;:E i UNTY FLA. ` //6 A ~ :
~ a
~ ;,p=~~'
~ - - C~ F'~r eCUR L~tteStS Wi PCtP_t Mc~ore T~ J :
~ r : : ` ~ • f `~~'~a
~ - .~~-w~~~s~~..~'~ir-
No I l 9 38 AH ~ • ~4f
y - 242201 ~
~ STATE OF FLORIDA COUNTY OF ST. LUCIE
I HEREBY CERTIFY, That on this _~~day of-~1~vesber _ A.D. 19~_,
i~efore me personally appeared John D. Bllis~ Sr. and Wilester Moore -
~
~ respectively _ President and . Secretary _ , of
____Zn~n River Imrestment Cor~~n, a Flor3ria Corporation, to me
~ kr,own to be the ersons described in and who executed the foregoing instrument, and severally acknowledged the exe-
P
~ ~ut;on thereof to be their free act and deed as such officers for the uses and pursoses therein mentioned; and 1k7at they~
~ affixed thereto the official seal of said corporation, and the said instrument is the act and deed of said• cpr~oratiori:..+,
~ ~ - . ;
~ 'y"JITNESS my hand and official seal at Fort Pierce , said county and ate_ a
, ~ r Z c,` ,
-
~ ' ' ~
~ ?his instrusgnt pYepared by ~ . =
Thoaas A. Driscoll ary P ic, in and for State and unty a re;~ld.d
~
First Federal Savings and Loa?n Assoc . y Commission Expires: NprARr PUB:iC, STATE ovfCORIb~A att~ ~
~ MY COWV!ISS10N EXPIRE9~"~ fC. 2~',19 5' %
Fort Pieree, F10l1C~a gorded i~~.i ~•nersl Insu n£i e ,
~ , i ~ _ ~ ,l "7 ,~s. ~~'t1P.~1~?f.4~
~ Checked By.~-____
EU~~ r~AG~ 951 ,
- - - - ~ ;a
.
` f - ~ ~
: a
~3 w~~
~~rc -
~A ~ L? ~.Y~ ~ - _ Y~