HomeMy WebLinkAbout2271 3. To piace aad coni~nuous~~r keep on ihe bu~'d~r,gs now o~ hereaitz~ anu~te on sa~d Iand and on al~ equ~pment and person3lty co~ered by th~s mortg-
+ge. with all pr~n~i~~nS iF.r~ron pa d~n fv11, fue insuranca in tne vsual srondard ~.w~icy iom~, in a Yum aHN~cv~d by the MOR~ti:.G:E, a~~J wind;torm
insurante in fha usval standard pot cy form, in a sum app~oved by ehe MURTGAGEE, in such co+npa~~y or co~npan~es as the MORTGAGEE may
direct; and ali (ire and w~neJsw~m inswance pofi:~es o~ any oi sa~d bu~id~ngs, any inte~est Meiein or part thereof, in the agg~egate wm afwesaid w
in excesa ~h~rrof, s~wll ;u~f,in ~he usual s~and;rd mo:~9~gee c:auie a such orher cla.,se as t1~e Mo~~ya~ee may ~equ~~e, making ~hr loss u~~drr s.~~d poli-
cies, each ard evriy, p~~,:,~e ~o sa~d AtORTGAvEE as ~ts ini<r~~st may appear, a~~d each and e~er~ such po!~cy sha~l be pron,pt:y ass gncd end deG~,:rrd to
eny hrld by sa~d h10RIGAGiE as f~riher security to sa~d morigage deb~, and, not I~ss ~han ten (101 days i:~ acivanc~ of the e~puat~on oi each po1+c~, to dr
Iive~ to said MORTGAGEE a re~:eK•.+I thereoi, toge~her wirh s rece~pt for the prem~um o( wch rene+~al; and +hr~e s1~e11 be ~~o i;~e o~ w~ndsTC~m insu~ance
placed on any ol aa~d b~itd~ngs, any interest therein or part ttiere~f, unless in the form and with the ioss payable as aioreiaid; a~d in ~he event any sum
ol money becomes paynb:e ~nder s~ch policy or poGues said MORTGAGEf shai! have the opt+o~ to rrca~+r ~~~d apply the sa~ne on acco~nt of tha indab~rd-
ness setwed her~by o~ to per•nit a~:d MORTGAGOR$ to reteive and ute it p a+~y i,att the:~of tor o:nrr p~~E ;,srz, v.:~i,~.t th u, ~a n~.p.;~~-
ing any equ~?y, {ien or right undar or by viitue of this mo-tgage; and in the event sa:d MORTGAGORS shaH for any ~eason fai! ro keep ~he sa~d prem~s~s so
ins~red, or fa~l ?o drliyer pro~nptly any of said pol~cies oi insurance to said MORTGAGEE, er fa~'. pr;,mpily to pay iu;;y any pre,n;.,~n th~,raior or in anY
respect fail to perEorm, d:;ih„rye, ea~~c~te, eflect, completr, compty wiih and abide by th~s covenant, or any p,+rt hareoi, sa~d MGRi:,AG~f may piace a-~d
pay fa s~ch inwrence or any pa+t ~he~eof w~thout waiving or affecting any opt+on, lien, equ~~y, or nghi undrr or b~ vi~tue of this Atcrtg~ge, and the
tull amo~m of each and every such pay~,.eM sha~l be immedia~ely due and payable and shall bear int~rest f~om the date tt~ereoi unt~l pa~d at the ra~a ol
nine per crnturn per an%,m ~~,d ~ua,•~n~~r vv»h wch ~nfrr~sr shaii be sewred by the lien oi this mortgage.
A. To permit, commi~ or suffer no waste, impairmrnt or drter{oration of said properiy o~ any parl the~eof.
5. To pay all and s~ngula~ the cosrs, charges and e:per~ses, includ~»g a~eason3ble attomey's fee and costs of abatr, cts of titte, incurred or pa~d at
any tin:e by aaid A10R/GAGrE, brcause or in the evem of ~he fa:iure on the part of the said MORTGAGOR t~ d~ly, proneptly and fully perform, d~scharge.
=arcute, effed, comp;.,re, cu:nply w~~h and ab.de by each and every the stiputa~~ons, agreantients, cond~rior.s, and <ovenants oi sa~d prom;ssory note and th~s
mwtgage any or c~~her, and sa~d costs, chaiges and expenses, each and every, shall be immedia~ely dur and payable; wh~~ihe. or not there be noflce ds
mand, at~empt te coliect or wit pznd~ng; and the full amount oi each and every such payment shall bear interest from the date thereot unril pa~d at the
r.,re oi uer c~nrum p~r ar~+~:n; ar~d a!! sa~d ccsts, cha~ges and ex;~anses inturred or paid, logether w~th sach ir~te~est, shall be secured by the I~en of th~s
mortgage.
6. That (a~ in tfia event of any breach of this Mortgage or default on 11~ part of the ti^•ORTGnGOR, or ;b) in the evenf any o( sa:d sum= af money
herein referrrd to be not promprty and fu!ty paid wirh~n th~r~y ~30) days nex~ a~ter ihe same severa:ly t~eco~ne due and payabte, wuhout deu:and o~ notice,
or (c) in thr event e~ch and every the s~~pu:at~ons, ayreements, conditions and co~enants of sa d pro~nissory note a~ui th~s mortgage any or either are oot
~uly, promprly and fu!ty p¢.forn,~d, d scharg•_,~, executed, effected, completed, comp6ed wfth and ab~ded Sy, then in e+iher or any s~ch event ~he sa~d ag
gregate sum m.ent~oned in sa~d promissory note then remaining unpaid, with intere;t aa~ued, and aii moneys secured hereby, shail 5e:cume due and pay
ao~e forthw~th, or thereafier, at the ope~on of so~d MORTGAGEE, as fully arxl complerely as ii ali of thr so~d sums of ~noney were ong~na~ty snp~;ated
ro be pa;d on such dcy, anything in s~.d From;ssory note or in lhis Mortgagr to the tontrary not.vithitandlny; and thereupon or thertafte~ at the opt~on of
s~~d MORTGAGEE, wrthout nonce or de~nand, su~t at law or in eq~~ty, therefore or thereatter begun, may be prosecuted as if all moneys secured hereby
n~d mawred pnor ~o ~ts invi~vr~on.
7. That in ihe event that ar tne beginn~ng ot or at any time pending any suit upon this Mortgage, or ro foreclose it, or to reform it, or to enforce
payment of any c~a~ms hereur.d_r, se~d MORTGAGEE shall apply to the Cou~t having ~unsd.ction thc~eot for ~he appo~ntrr.ent o1 a Receiver, such Court shail
fo;thwith ap•.wint a receiver of said mortgaged property all and singu~ar, inc~~d,ng aU and singular the income, profas, issues and revenves lrom whatever
seurce dar;ved, e.:ch and every of wh~ch, it b¢,~,g expressly unders~ood. ~s hereby mortgaged as if speuf~cat~y set fonh and described in the grant~ng and
habendum cla~ses hcreof, and wch Receiver shatl have aIl the broad and effective funct,o~~s and powers in anywise entrusted by a Court to a Receiver, and
s:th appointment shall be made by s~t~ Court as an admitred equ~ry and a m.at~er of absoiute right to sa;d MORTGAGEE, a~d withcut refcrence to the
edeyuacy or inadequaty of the vatve of the properry mortgaged or to the so~vency or inso!.ency o! sa~d M.ORTGAGOR a the defendants, and that wch
rems, profits, income, ~swes and revenues shall be appGed by wch Receiver aaQrd~ng to the ~~en or equ+ty of said MORTGAGEE and the practice of such
Courf.
B. To duly, promptly and fully perform, discharge, execute, effect, tomplete, comply w~th and ab~de by each and every the stipulations, agreements,
cond~tions and :ovenants 1n aa~d promissory note and this mortgage set forth.
9. That in the eve:~t the ownersh~p of the mortgaged premises, or any part ti~ereof, becomes vested in a pe~son othe~ lhan the MORTGAGOR, the
:.'.ORTGAGEE, its wccessors a:id ass~gns, may, without notice to the MORTGaOR, deai wish such sutcessor o~ successor in interest with refe~ence to this
mo~tgage and the d_ut hereby s~Nred in the same manner as with Mortgagor w~thout in any way vit:atirtg or d~scharging the Mortgagors' (iab~lity here-
under or upon the debe h_reby se.vred. No sale of the Fremises hereby mortgaged and no forbearance on the part of the N10RiGAGEE o~ its successors
or ass~g~s and no exrens:on of the h~-,e for the payment of the deb+ hereby secured g~ven oy the 1J10RTGAGEE or its successors or ass~gns, a~~all o~:r:ate
ro re!eose, d~scharge, mud+ty change or aifect the orig~nal iiab~l~ty of ihe MORTGAGOR herein, either in whole or in part,
10. tt is spec~{:catly agreed that time is of the esse~ce of this centract and that no waiver of any obi~ga~~on hereunder or of the obligation se-
cured hereby shai~ ai an~ tie,e ~hereafter ne he:d to be a waiver of the terms he~eof a of the instr~mem secured he~by.
11. In ~;id,t:o:i fo the fore3o ng •ro~th'y payments of princ pal and interest required by the prom.ssory no!e sewred hereb~, mcrtgagor eovenanis
and agrees to p~y to n~ortgagee with each monthiy payrnent an add~rionat sum esr~n,ated by mo~tgagee to be equal to 1.' 12 oi the ann~al cost of the foliow-
ing:
A-Alt real pr~~erty tjxas leJ~_~' or assesseci aga~r,st the above desc:~bcd real estate.
6-Pr~n.~u•ns o? !~re and viir.dsro~n, :rsuracce as neiei:i requ,red to be tarned en the ~m;.roveme~ts s~t~ate on tbe above d~su~bed premises.
C-Premiur.s c~~ svcF. mortg:ge guaranty insurar:~e as mo~tgagee shail from t~me to tim.e deem fit to tarry on the loan secured hereb/.
Mwtgagee s~-a'! ~r~m rJme to t~eie not~fy mortgagor in wr~t]ng of the amount d:,e and payable hereunder and such sum shaH thereupon due and
,-:abie on th~ d~e cia+e of the ne,t :noNhcy payment and each successive month tnereait~r uctil mortgagee shall notify mortgagor pi a c nge i Su
a.ount. Such su ns sha;E be apF~.~ed by mortgag•.e towa-d tne paymeret of rea! prcperty taxes, insurance prem.um ^a~~d mort a gua nty ' r ce
• em~ums. /~1
^J YJIT~JE~S :lHER~OF, i sa~ O GAG R has hereunto set his har.d and seal the day d y ar fir fore id.
etl, Sealed and red e pflesepce of; G, ~
, - ~ ~ ' ~ ~ /
i n ! _ c ar . ~°n
~ ~ ~ /~„T.~-~`"~ rcaan
! , - - @STI • 111 ~ ~ (Seal)
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` S;ATE OF; fDA ~
~ CiJUNTY OF _ UaCI@ ~
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eefore me perso~ally appeared Riehard H. Smith
and
, Jean Z• SDl~ti~l his wife, to me we11 known and knor•n to me fo be
~ the individua;s describad in and who execused the foregoirg instrumenf, and acknowledged before me that they exec~ted the same iw the purposes
~ ~~erein expressed. And the saia___ Jean Z• SAl~t.~1
: ~.~:je of the sd;a _ Riehard H. Smith vPon a sePa~ate and private
i exem~nat;on by me taken separare and apart from her said husband, acknorrledged to and before me that she executed said +nstrument freely and volurr
~ rarify and w~tbovt any compuls~on, tonstraint, apprehenron, or fear of or irom her said husband. ~
i WITNESS my hand and of(ic~al seal th~s_ '2 y~ day of t' A. D. 19._L'_
/L~.~.~.~-r~s~- ls~
; Notary PubGc in and (or the State of rida at large
Ret~rn Ta. My Comm~ssion expires: ~ P~~ ~k ~t ~
First Federal Savings b Loan Associaton ~~OIII~MSf10w ~i Ms~ 7,
OI Forf P..rce ~YM~ A~ritM FA ~~~~I'~7
' Fo.t P~..rce. Flc;~;~.;a ' iyf!'
3 , ',.••...~y~i
~ FflEO 4!I~ RECORDED
~ S1. LUCIE CO~NTY F~A. - • ~ r 7~_~ ~
5 ROGE~ P~JITRAS l - : - : ~
; This Instrument Prepared 8y Richard K. Kayes CIEAK C~Z~~1T COURT _
~ RECOR~3 VE't~~iEO : 'f~,~ ~ : ~ _
_ First Federa! Savings 8 Loan Assoc;ation : -
:
4 . of Fort Pierce F1oTida . =
r ~10 N ~ • ;
° ' ~C ~ $ 24 ~'~Z :
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~ Checked By ~ ~ _ r
; UR Q 243164
- BOOK ~~O ~'A6f ~~7i
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