HomeMy WebLinkAbout2278 3. To place and co~u:nuously leep on the bui'J~ngs nox or herrafre~ ~+~uate on sa~d I~nd and on aC rq.,~p~nant and persondily covered by th~s mor
age, wlth all prem;ums tl~rr@Jn p.i~d ~n fult, I~rr ins~rar,ca in the usual s+a~~a~d po'~cy (orm, in a w~>> a~.~rc~cd by thr hlOR~u.~GFE, a+~J w+nJs~o
~~~suranca in thn usual arj~td.~~d poi.ty forrn, in a swn aNpro.rd by thr MORTGAGFE, in such ccmpany or curnpan,es as the A10RTGAGEE m
d~rect; and aU (ire acd w~ndato~m i~~su+ance po:~c~~s on any of sa~d bui,d~n~s, any interest ther~in ~r part ~her~ol, in the agg~. g;~r wm afo~esaid
in excess ~hr~eof, sh~ll ;~nra;n ehe ~sua! sia~.d~rd mur~g,,gee ciause or such o~her c~ause as the hlonyagee moy ieq~~re, mai,~ng the ~ess ~ndrr d po
c~es, each and e~ery, payab'a to sa~d t.',JRiGAGEE as as iro~r~•st rnay appear, and each and eve~y svch po :cy shall be p~orcNny ass gn~d o~ d dr~~:~red :
any held by aa~d h10RfGAv'tE es fwrhe~ sccvr~ty to said m.ortga~e debt, and, not :ess than ten (f0l days in ad~~~:cE of the eYNiration of rach poLty, to d.
' fve~ to said ~dORIGAG'~ a renevvoi thereoF, ~ogeiher with a rcce~pt fo? thr p~e~ni~m oi such rener~af; aud th<•re sf:~,! La no L~e or v,:~dvc•m insuranc
p!aced pn any of said b~i'dings, any intcrest th~re~n or part thereoi, untess in the iorm and wi~h the Ioss payable as afcresaid; and in the eveM any s~n
of mo~ey becor.~zs payab~e unde~ s~ch pol~cy or pol.c~es sa~d ~dORTGAGFE shal! have rhe opt~on to rec_~ve a~~d apN:y tlir same on accoum of tl~e ~nda~+rd
ness sew~ed her~by ot t0 perniA S.~id MORiGAGORS lo reGrivO dnd u3B it Or any part lhc:eof tUr C:~~~•. r~.~r; ~s:~i. ~...tny;,t th.••~ u, ~.~~_i.~ ~.r r~.~i..r
ing any equ~ty, i~en or right under w by virtue of this morrgage; and in 1he event sa d M0~2TGAG04S sha!1 for any re3son fail to kaep the sa~d prem~s.s so
~nswed, or fail fo da?~ver promptly any of sa~d polities ol insuran~e to said MORTGAGEE, or tail prom,p!ly to pay f~:iy any pr~~nwm thcrt4ur or in a~y
re:pect fail to perform, d:sch;rga, exe<urc, efiect, con~plete, conply with and ab~de by ~his cove~~a:~+, or any part h:rec+f, s~id 1lIOR1;;.:GEE may prace a o
pay for such inwr.,nte cr any part tl~rreof w~rhoat waiving or affeding any opt~on, lien, equ~ty, or ~~~hi under or b~ virtue or fhis ,Vlortqage, ar.d tht
f~ll mno~n~ o( each and e:ery such paymrnt shall be ~mmediately due and payab:e and shall bea~ inte~c•st from the dore thereoi un~il pa~d a~ the rate oi
n~ne per centum per a~inwn ~nd to7rthur w~th suth inte:est sh~i~ b~ s~~cured by ~he ffen O( tAis mprtgag~.
4. To permif, tommit or suffer no waste, impairmen: w deterioration of sard property o? any par! thereof.
S. To pay all and s~ngulai the costs, tharges and expenses, including a reasonable attwney's fee and cosrs oF abstracts of titte, incurred or paid a~
.~ny time by sa~d MORIGAG:E, because or in the evero of the failure on the part of the s3~d MORTGAGOR ro d~ly, p~o~~~ptly and fu11y perForm, d~scnarge
e«ecute, effett, canplete, comply u~,,th and abdr by e~ch and every the stip~lat~ons, agrea+t~enfs, cond~l~ons, and covenants of said pro~nissory note ar.d thls
~,ortgage a~y or enher, an~ sa:d costs, charges and expenses, each and eve~y, shall be immed~ately due and payab:e; whrrher or not there tx nohce d>
mand, anempt to col.ed or suit pend~ng; and the full arnount of each and eve~y svch payment shalt bea. ~merrst from the date thereof wti! pa~d at th~
~ r,.~ o; n„te ~ei cz+tru~n F•ar an~w:,o; .;n~ an sa~d eosis, cha:ges a:id cxpanses incurred or paid, togethcr weh such interest, shatl be secured by the i~an of thif
mortgaga.
6. That (ay in the eve~t of any brea;h of th~s Mortgage or defavlt on 1F~ part oi the A10RTGAGOR, or ~b} ;n the event any of sa:d sums of money
herein referred ro be not pro~np!!y and fuily pa;d w;rt,;n fhvfy i3~) days next airer the same severa:ly becocne due and payabte, withou~ demand o~ notice,
er ~c) in the eve~it eath and ~vrry the st~pu.at~ons, agreements, cond;t;ons and covenants of sa d p~omisso~y r.ote and tt~~s mortgage any or eiiher are nm
ju;y, pro~~ptly and futly performed, d.scharg~d, rxewtcd, e~fected, tomp;eted, compt;ed w~th and ab~ded ;y, vhen in ei~her or any such event the sa~d ag
gr~•gate svm memianed in said promissory nore thzn re;nain;ng unpaid, with infere;i accrued, and aii moneys secu.ed hereby, shall become due and pay-
eo,r forth v~th, w rherea{ter, at the opt~on of sa~d RtO~TTGAGEE, as fully and completefy as if aI! of tft~. s~id s~ms of money were ong~naily sr~pu:ated
ro he pa;d on such d~y, anything in sj:d pro;n~ssory note or in this Martgage to the co~~trary notw~thstandi~~g; and thereupon or tnerraiter a~ the opt:on of
s;;d A1pRTGAGEE, wrthout nonca o+ demand, svit at law or in equity, therefore w tF.ereafier teg~n, may 6e prosecuted as if all moneys secured hereby
r._d matured pnw to us ins~~tufion.
7. Thar in tne event rhat at the beginn;ng of or at any 11me pend;ng any su:t upon this Mo~tgage, or to foreclose it, or to reform it, or to enfo~ce
F-ayment of any cia~~ns hzreunder, said h;ORTGAGEE sha~l apply to the Court having jurisd,ct~on thereof for the appo~ntment of a Receiver, such Courf shail
rcrthwith appc:nt a receiver of said m~rtgagccd property a(t and singular, in~iud.ng a!1 and s~ngu'ar the +rt~an~e, proles, issues and tevenues Irom whatever
s_ urce dtriv~~d, tach and every of wh,ch, ~t b,~ng exprrssty understood, is herFby mortqag~d as if s;~zc~iically set lorth and described in the granring and
endum causes RrreoE, ar.d s~.h Rec~~iver shali have ait the broad and effecr~~e funct,ons and powers in anyw~se entrusted by a Co~~t to a Recerver, and
_•:h appo~nrmenr shju be rttade by s~ch Court as an adnitted equiry and a matte~ of absolute righ~ to said MQRTGAGEE, and withou~ referenca ro the
,i=q~ccy o~ inadequ~cy of the val~e of the property mo~tgaged or to the so.~~ency or mso~vency of said MORiGAGOR or the defzndants, and th,t such
•~-•,rs, proiits, inco.ne, issues and revenurs shati app~ied by wch Receiver accord~ng to rhe lien or equiry of sa~d MORIGAGEE and the practice of such
COUrL
8. To duly, prompt!y and f~!~y perforrn, discharge, execute, effect, complete, comply w~~h and abide by each and every the stipu:ations, agreements.
corditions and covenants in sa~d promisswy note and th;s mortgage set fortfi.
9. That in the event the ownersh~p of the martgaged premises, or any part the~eof, becomes vested in a peryon ofher than the MORTGAGOR, the
':ORTGAGEE, its successors and ass~gns, may, wifhaut notice to tne h10RTGAOR, deal with such successo+ o~ succrssor in inte~est witi~ re}eren:e to this
n~o•fgaye and ihe drot hereby secured in the same manner as w~th lto~tgagor w~thout in any way vitlating or d~scharg~ng ~he /dortgag~rs' liabiliry here-
c-:der or upon 1he debf he~eby secwed. No sase of the premises hereby mortgaged a~d no forbearartce on the part of the IAORTGAGEE or its succestors
cr ass~gns and no exrension of the r;me for the payment of the debt hereby secured g~ven by the MORIGAGEE or its successors or ass:gns, ahall operate
ro re!ease, d~scharge, mod~fy change or affect the o~fg~nal tiao~t~ty of rha MORTGAGOR here~n, eifhes in whole or in parf.
10. !t is spec:fically aareed ~hat time is of the essen~e of th;s contract and that no waiver of any ob~igation here~nder or of the obligation se-
cu•ed hereby sna•.i at any tirne thereafter be hc:d to be a waiver of the terms hereof or of the insrrumeM secured herby.
11. In add t;o ; eo the fore~c n;onthly payr.~ertts of prir.~ pal and intzrest requ~red by the prorn:sicry no'e sccured hcr~•by, mo~tga~or eovenants
agrees to pay to n:rtgagee wrh each r: e~=-Fry pay~.~enr an add.r~onal sum est:n,ated bp niorfg3gee to ba eq,af to l. 12 of the ann~al cost of the foilow-
A-AH real E roperty ta:_s le~n~~ or asses:e~° ay3i•ist the above desai!;,d ral es:ate.
6- Pr ~.:.:~:ns on f~re and .v~r.dsro•m ~nw~arce az here~n rcq~;red to be ca~ried on the improveme~ts s~tuate a~ the above described prem~ses.
C-Premiun:s o~ such mortg:age guaranty irsurance as mortqagee shall ircm. t~me to r;~n~ deem fit to carry on the loan s^cured hereby.
Mortgagee s!~a~l dram nma to time nonfy mortgagor in wr~t~ng of the amoum due and paya6le he~eund~ and suth su~n shall thereupon be due and
: 3,ab!e on the due date of the neu month'.y pa•~ment and each successive mo~th thereafter uctii mcrtqagee sha!I notify mortgagor of a change in such
~unt. $uch sums sFaJ ue app:ied by mo~rgagee tor.ard the paymeni of real property taxes, insuraixe prem~ums, a:~d mortgage guaramy insurance
,"cmiums.
IN 1VITNE~S '::H~REOF, the sa~d PAORTGAGOR has hereunto set his hsnd and seal the day and year first aforesaid.
Si ed. 5 aled and del'vered in the preser.ce of: ,
~ tflC0 AN.' K~CURp!0 _ -
c.•,.
fT 4UC; _;OUMTr fLI. i t,,~:,~.c..~,~--~_ !/~~"t~-(Sea4
ap•:! r:. i~s6 Maurice A. Shapiro
1~~~ r,~-Ff K ' ~ u ~J CQURT ~ - / • (Seal)
- R f r!}? ~ . = = - ? v ~t-C1•% BL~ i~ (Seaq
Barbara J.~~Shapi~ ~~a~~
' O~c ~ ~ ~i ~~'7Z
' STATE OF NEW J'BRSEY - ~ u 24316'7
~ CJUNTY OF _ LTNION
I Before me personally appeared ~IlY'1Ce A Sha~~ ra a~
` Barbara J. Sha iro
~ P his wife, to rrse weN know~ and known to me to be
th= ind~viduals described in and who executed the fwegoing inslrument, and acknowledged before me that they executed the same for the purposes
rhe~>;n ezpressed. Arsd the :a~a_ rb r $ lY0
" ~{e of the said _ _ ~111 ~C@ A• Shapiro : ~po„ a separafe and priyate
e.em~nario~ by me taRen separate and apart from t~er said husband, acknowtedged to artid before me that she exec~red said insvument treaJy,-,pnd~vQt~ar_
" ~.•~~y and w~tho~t ary compuision, co~straint, apprehens~on, w fear ot ot from her said husband, '
30th : _,Lk,,~-
; <
i WITNESS my hand and ofRc~al sral thfs- day of ember a;'~;~~~y _
~
' ~'.5.,'~,.s~ . ~'??li •
Notary Public in and for the State of .~~~i( Lar~! ~r}~
: My Ccmm~ssion expires: - S'~.~ '
" Retur~ io: ~iSC iN. a7G,~t~ ' t3 .t ;'S~ :a Y~f
; . i~~„y
First Federal $avings b Loa~ Association _ .
oj ~}.t P~:~., A~OTART ~UtR.IC of i~E~ ~=_R~~ z_t~,.;
~ QOOOMIMi Eipttrs Ang. o. 1•i; o i+. a Ti~
forr P,erce. Ft~r:d.~ ' • f ` _
~ - a. g ,
i . ~
' Thi; Instrument Prepared By .I.H.RObeits~ J]C .
First Federal Sav:ngs & Loan Association
of Fort Pierce, Florid a
~ .
i Checked By _
' 6oR~x~~ p~cc~~
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