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HomeMy WebLinkAbout2273 3. To plxe and iont~nuo~s~y keep on the b~~.dir,gn now or hr~rjfter ~ttu~le on sa~d ~and and on aC eq.:~y~nent and personally co~e~ed by ~his mortg- age, w~th all prrn~~vms thrrzon ~..,,d in f~Ii, f~re i~~surance in the ~s~at srara~erd po~~ty form, in a w~n approv:d by the MORIG:.GEE, and w~nds~orm insurance in ~ho us~al a~andard ~;o!.cy fonn, in a s.•m approved by the A10RTGAGEE, in such tompony o~ co~npaiues as the MORTGAGEE m~y d~rect; and all f~rv and w:nJs~orm insuzance po!k~rs on any of sa~d buiid~ngs, any ~merest therein or pa~t the~eoF, in the agg+ega~e sum aloresa~d w in excess ~hereol, shail :ont,in ~he usual siandard ~norigagee clause or auch o~Fxr Ua~se as the Mortgayee may ~equ.re, mak~ng ttc Icss under se~d poli- cies, each and every. Va.~~~r to said `.~JRiGAGEE as its ini~rrst mby ap~ar, and each and every wcfi poncy sh,~ll be p~ompuy assg~~~d a~~d deliverrd ~o eny hetd by s3~d MORtGAGEE as funhrr s_curity ro sa~d mortga~e debt, and, no~ ~ess than ~e~ U01 days in adlance of the expiration of eech pot~cy, to de- liver to said MORIGAGFE a renewel thereof, ~oge~her with a receipt for the premium oi such renrwa~; and thare shall be ~w f~re or windstorm inwrance placed on any of sa~d 6u~ldings, any interest there~o w part thereoi, uniess in the lorm and w~th the loss payablE as a~oresa~d; and in the eve~N any sum of mooey becomrs pay3bte undrr s~ch po:ity or po~~cirs said MORTGAGEE sh.~11 Aave tha opt~on to recc~ve and a~p!y the sa~ne on account o1 the indcbt~d- ness secwed hareby or ~o perm~t sa~d MORTGAGORS to recrive and use it or any par~ rhe eof +or ot~~~•r ~:u~,•cses, :.:~~~~Lf iF~ ~.r +-~~~~'J i~g ony equ~ty, Hen cr r~~ht undr~ or oy virwe of Ihis mortgage; and in thc event sa,d MORiGAGORS shall for any reason fail to krep the sa~d p~e'n~s.s so insured, or (ail to deli.c~ promp?ly any of said pol~ties of inw~ance to sa~d MORTGAGEE, or fait promptly to pay fully any pr~nuv:n thcrafor o~ in a~y ~espect fa~i ro pe~fam, d~s:harge. eaecuta, effect, c~nplerr, comply with and ab~de by th~s covenani, or any parf hareof, said MGRiGAGEE may p~ace a~~d pay (a such ins~r..nce o~ any par~ thereof waho~l waiving w affecling any op~~on, lien, equ~ty, or ~~gM unde~ or by vi+tue of fh~s Mor~g.~ge, and the full amount oi each ar~d every such paymam shatl be immed~ately due and payable and sha11 bear interest from the date thereof until po~d a~ the ra~e ol nin@ per cznt~m per a:;num ard to3r~h~~r M~th wch int..~~est sha~i be s~~cured by 1he lien of this mortgage. To permi?, commii or suffer no waste, i~npairment ur detrr~oration of said properfy or any part thereof. 5. To pay ati and s~ngu~ar the costs, charges and expenses, indudu,g a reasor+ab:e attaney's fee and cos!s of abstracts of title, incurred or pa~d at ?ny time by s:,~d MORiGAGEE, because or io the eveni of ~ne ia;lure on the part of ~he said MORTGPGOR to duty, pro~~~ptly a~d t~uy pe~f«~n, d~scharge. _.ec~re, e{fect, co~np:ete, comply w~~h and ab de by each and every the etipu~a+~ons, agre~.*~ents, conditions, and covenaros of said promissory note and this ,r.o.tgage any o~ e~Mer, and sa:d costs, cha~ges and expenses, each a~d every, shall be immed~ately dur and payab:r; whe~her w not there be not~ce dr mand, atce~npt to cotlect or s~it pend~ng; and ~he full amount of each and every such payment shall bza~ in~eres~ from the date thereof ~ntil pa~d al the r,if_• Ji ~~hie uer cc~~t.,m ~,rr en:.~,.:n; and all sa~d coats, ct~arges and ex;~.:nses incurred o~ paid, together wdh such imeresl, shetl be secured by the I~en o) th:s mortgage. b. That (a) in the event of any breach of this Mortgage or defa~lt on the part of the MORiGAGOR, or (b) in the event any of sa:d su~ns of money herein referrad to be not prompfly and fully paid w~thin thlrty ~30) days ~ext atter ihe same severally becoo~e due and payab!e, w~~hout demand or nouce, or (c? in thr evem each and every the suNutat~ons, agreeme~~ts, cond;tions and covenants of sa.d promissory ~otr and th s mortgage any or either are not ~uly, prJ~nptly and'~:ly ~erfo:med, d.scha~g~d, execut<-d, effected, completed, co•npi~ed wnh and a6~ded Sy, then in either or any such event the sa~d ag ~regate sum ment~onrd in sa~d promissory no+e thrn remaining unpaid, w~th intere,t accrued, and all moneys sewred hereby, shall become dve and pay ao!e forthwith, or ther~•after, at the op`~on of ,said A10RTGAG:E, as fuHy dnd [omp!ete!y as if all of It,e sa+d sums of money were ong~nally sl~puiated ro be pa~d on s~ch d:.y, any+ning in sa d pro~ir:sory note or in this Mortgage to the coorrary nor.+iths~andi:,g; and ?hereupon or ~hereafter a~ the opeon of sa:d MORIGAGEE, v~,rthcut nonce or dr~na:~d, suit at law or in equrty, iherefore or thereofrer begun, may be prosecuted as if all moneys secured hereby n~d matured pnor to rts ~ns~ituuon. 7. That in the event that at the beginnl~~g of ~x at any i~me pendfng any su~t upon th~s Mortgage, or to foreclose it, or to reform it, or to enforce payment of dny da~~~~s hereunder, said MOR~GAGEE shal! apply to the Coun having ~urisd!ct~on thereof for Ihe appomtmenl of a Receive?, suth Coun shafl forthwith appoint a rece~ver of said mortgag~d property all and singular, indud~ng aIl and s~ngu~ar the income, prof~ts, issues and reve~ues frofi whatever se~rce der~ved, each and every oi wh~ch, it being expressly unde.s~ood, is hereby morrgagcd as if spec~4~cally set fonh and destribed in the granting and haoend;,m c!avses her~of, and such Receiver shalf have all the broad and eff~t~ve funu,ons and powers ~n anyw~se enrrusied by a Court to a Receiver, a~~d s_ch appointment shaL' be made by such Courr as an admitted eGuity and a'mattet of abso~ute ri9ht ta said MORTGAGEE, a~d wirhout re(erence to the adeyoacy or ir,adrquao/ of the vaiue of the prope~ty mortgaged or to the w~vency o~ ~nso!vency o( said MORiGAGOR or the defendar,ts, and that such i_~,fs, proiirs, income, issues and revenues shall be appl~ed by such Receiver accord~ng to the Gen or equity of said MORTGAGEE and the practice of such Court. 8. To duty, promFtly and fu:~y perfo~m, d~scharge, execvte, effect, comptete, comply w~th and a6ide by each and every the stipu~ations, agreements, co:tdit~ons and [q~e~~ams ~n sa~d promissory note and this mortgage set fotth. 9. That in tha eve:~t fhe ownership of the mortgaged pren,~ses, or any part rhereof, becomes vested in a perwn other than the MORTGAGOR, the M~RTGAGEE, its successo:s ar.d asvg~s, may, w~thout r.ot~ce ro the MGRTGAOR, deal with wch successw or successw in interest with re~ere~ce to this n or~gage a~.d ihe d_ut hereby s~cured in the same manner as wi~h Murtgagor wlthout in any way vit~ating w d~schaig~ng the Mortgagars liability here~ u-:der or upon the drbr hereuy se.u~ed. No sale oF the pre~~ises he:eby mo~tgaged and no forbearance en the pan of the MORTGAGEE or its successors or ass~gns and no e~~ensw~ of ihe r~me for rhe payment of the dabi he.eby secured given by the MORTGAGFE or its successors or ass~gns, a~~all operate to reiease, d~scharge, mod~(y thar.ge or affeU the o~ig~nai liau~ifty of the MORiGAGOR herein, either in whofe or in part. 10. It is speu'.icatly agreed that time is of the esser.ce of this contract and that no waiver of any ob~~gat~on hereunder or of the oblgation se- cured hereby sha!~ at any time thereafter be held to be a waiver of the ttrms hereof or of the instrument secured herby. 11. !n aJd.t;o~ to t~e forego n~ n onth!y payn,~ms of princ pal and interest req~hed by the prom~ssory note sec~red hereb/, mortqagor covenants i• d ag~ces tv pay to mortg-,gee wrth each mo+:+h,y pai~,:ent an add.iionai sum estcc~ted by mortgagee to be equal to 1.' 12 of the annual cost of the follow- A-AI: .eai property taxes .e+~ed or assessed ag3i•st the aLove described re~al estate. 6-Fr:~*:w•ns on i~re and wir.dsrorm insurar.ce as here~n requ~red to be carr~ed on t~e ;mprovemeits s;tuate on the above described premises. 'I C-Pre:r'~;,,rs on wch mort~age guaranty ir.sura~.ce as mortgagee sha~l frc~r. ;~me to time deem fit to carry on the toan secured hereby. hlortgagee s~~.~;1 'rom wne to nme norify mortg;ger in writ~ng of the a:rount due and payabte hereunder and such sum shall thereupon be due and ~ c.+vable on thr due .ic!-~ of ~h~ neat n~cnth.y paym~•nt and each s~ccessive m.onth thereaftcr untii mor!qagee shalt notify mortgagor of a change in such € ."'-ount. S~th su~ns sF.~~' i~e api:,~ed by mortgayee to~n•ard the payment of real property taxes, insurance prem.ums, and mortgage goaranty insu:ante ~ ~•.~miums. _ ' • ~ IN WITPJESS ViHER~bF, the sa~tl MORTGAGO~ has hereunto set h~s hand and seal the day a ear fint afor ~ ;-Sien~, Seated a:ul de!ivered; iA t p: esence bf: G % ~ t j~: Q a4 9 J. h ' (seaq ~ , _ : i u (Seaq gath tfoo ~s~a~) STATE OF FLORIDA ! 1 ~ CJUNTY OF St, Lucie ~ Before me persona!!y aPPeared David J. L~lltfOOt _ e~d ~t~ .l I.iehtfoot his wife, to me well known and known to me to be rnr individuaSs described in and who executed tne foregoing instrument, and acknowledged before me that they exetutgsl~tFr9~~q~ fos the purposes _ T i aht ~ ~ • ~!~•:•e:n expressed. And the said_~~h~~ ~ !e oF the sa~d _-~~~_J.~fOAt upon a~iarDte,and p~ivate am~nat~on by me taken separate and apart from her said husband, acknowledged to and befo~e me that she executeil•4a~ ;nttr~rn~t YeQFy :and vol~n- ar~d w~thout any compu~s~on, constraint, apprehens~oLn, or fear of or from her,said husband. ~J ' C' . WITNESS my hand and offic;a! seal th~z . ~ 3L day of~_~ ~ ~C~~T~ 4f n f~~ n-+ ~/G. D..19~2 V ~ ~ 1 ' r ~ ~ _J ~ ~ . . ~ Notary Public in and for t ~?ate• • ~e My Commission E7[pires: • ~ ~ Retum To: j,? ~ ~ ~ ~ F~rst Federal Sa~~~gs 3 toan Assoc~at~o~ NOTARY PUBUC, STATE o/ fIORIDA et LARGE ~ o~ F,~+ P.~:~. MY COAIb;ISS10Y EXPIRES SEPT. 25, 1973 For, F~•~r:e. Ftcr~d~ Bonded By American Bankers Irtsuranee Ca ~ fILEC Ay~ "•.LG3UE0 ~ ST.~ucsc ~4uNTr FLA- ~ ROGir '.ja~t ~ ~ This Instrument Prepared By ROII31d L. StutZ CtERR ~~.'~~f CO~RT _ First Federal Savings 8~ loan Association ~~~t?~' ~5 of Fort Pierce~ F10I'fda ~ 2~ Au . ltf7 Checked By 243165 noor PacE22~ ~ ' ~ ~ - - - - - ~ : _ . . ~~~rt ~ ~ . ~ . .