HomeMy WebLinkAbout3272 3. To p!ace end con~inuoust; :,~-ep un ti~e bu~'d~~.~s neN or h~reaf~er s~~~.+te on s~~d :and and on al: r:~.,~p;~,em ~nd prreonalty co:ered by rhis morrg-
age, w:th d!1 przmiu~nS th~~reon E; d:n f~;l, fire ~es,.r,:,cr ~n iha ~s.,ai s~,,:y,~d No'~cy iorm, in a s,.m a~.,~ro~ed by tha ,SAOR;~:,:."v:[, a~~d ~n:~~dstotm
~nsurance in the u:uai s~~ndsid pu:.cy ionn, ~n a wm ap}.ro.ad i,y ~hr ltt"vRiGAGfE. ~n such cc:upany or co:npanles as the NORiGAGEE may
duect; and ail fira an~ Y,,,nd;+o~~n ~~~sv~ance po:~c~es un any of s~:d izu~.d,ngs, any inrerast there~n or pan inereoi. in rhe a99~.:g~~e sum afcresa~d or
in excess thereof, shali ;on~,;n the uw.:! star.dard rno~~g~gra cl,usz or s~ch oiha~ c`~use as the hlortya~ee may requ,~e, rcaAiny ti,r :oss u~~Jrr s,:d poti-
c~rs, each ar.d every, pa~~~,~e ro sa~d h~JRi„4GEE as ~ts i~:t~r~at may apHear, ~nd each a~~d every w;h po~,~ st~,(f be prompY,y assg•:rd a~~d dr•~:~~.~•d ro
eny hzld 6y sa~d A10RT;,AGEE as iurrn,.~r sc~cur~fy to se~d ~~~o:ty~yr dr41, a~ d, nol ta;s than ten (:C) da~s in ::8::.r,ce af the exY~rsf:en of aach poi:cy, ~o dr-
I~ver to sa:d r.10R1GAGEE a ren~y.,ai thereof, toyether w~~h a:rcey:t fot t~e p~rn;ium of wch renrwai; and tl~rre sy»!1 be no f.re o~ w;~~Usio•~n ir.s„rance
placed on any of sa~d build;ngs. a~y ~m~~reat there+n or pan ihrrrof, unless ~n rhe fcnn and w~rh thz 'oss patai,!e as aforeaa~d; and in the e.ent any ~um
of money beco:nes pa~ab.e undr~ a~ch po:~cy or pol~cies sa~d L'~ORiGAGEE shall ha~e ihe opt,on to recc~.e ~~~d apF'y the sa~ue on account of th~ i~iJc~icd-
ness secured htrzby or to per:~,~t sa d l.10RiGAGORS to rete~ve and use it or a~~y i':,~t ~t,,,;~~f tc.r c~.~ r:,,~: _s:,s. rh ,3 ;;r p..,--
~ng any eqwty, 7;en or r~ght undrr or by vhtue of M;s mcr•gage; and in•the ev~nt sad A10~2T(;,AGORS sh.+ll',or any rc~s~n fa~l to k~ep thc aa!d prem~t_s so
~nsured. oi fail !o delive~ prornpNy any of said pal~cies of i:isurance Io sa;d MORTGAGEE, or f„r. prc~n},!iy to ~,ay fu:ty any pre:n~,;m th~~~e4ur or i~: a•~y
respec~ iait tp perform, (ji5:fldr~C, ex~~c~~ra, efrect, comp;err, conply wirh and a5~de by this covenan~, or any pert harcof, s~,d MuRi: ~GEE may p~ace a~~a
pay to~ such insur„nce o~ any pa+t ri,_r~of w:fhout wa~ving or aifeu~ng any opi.on, lien, equ~~y, or ~~~h~ undar or 6~ v~~t~e ot ~h~s h+.ortgage, and ihe
f;,~l a~novnt of each and e~e.y svch pa~ment sha11 be ~m~r~ed~arely due and payable a~~d s~,ait bra~ interrst trom the dere th.cr~of unt~i p„~d at rhe rare ot
~~~ne per canrum pe~ a,~num .,nd ~.,~_•+h,,r ,r.rth w.n inter~st shai~ ~.e s~~cured by the lien oi th;s moitgage.
4. To permir, tonv:~~t or wffer no waste, impaircncnt or deser;orat~on of sa~d properry or any part thereof.
S. To pay all and s~ngu,ar tfie costs, char9es and expe~ises, m:luding a ~easonab!e anorney's fae ar.d cosis of a5stratts of t~t!e, incurred or pa~d at
any tin:e by sa~d htORTGAG:E, becouze or in the e~ent oi ~n~ fa.ture on ~he pa~t of ~he sa:d ti10RTGAGOR to d.,ty, pro-r~pr~y and fu(fy pe.foim, dncharge
s~ecute, effecf, comp!efe, co~rp!y w~~h and abde by eath and every the Stipufat0~5, agr~em~nts, cond~t~ons, and covenants oi sa~d pro~n;~sory note a~~d th~s
n:ortgage any or e~ther, ar.d sa:d costs, charg2s and etipenses, each and every, shall be immed~ah!y due and payabie; xhe+her or not the e be nofsce d~
^.~and, atte~npt ~o cof~ecf pr suit pend~Rg; and the ful! amount of each and every svch paymeM shaii bear int~rest from the dare thereof until pmd at tht
te os n~ne per c<•ntum per a~~:,~:n; a:~c: ail said covs, .nr.grs ant! ex„,er.scs incurred or paid, toge~her w~th wch intErest, ahall be saccred by the I~en of th~s
mortgage.
6. That (a} in the event of any brrach o~ this hlortgage or deta~ft on th~ part of the ,•.'.ORJG~~GvR, or ;b) in the event any of sa'd sums of money
herein referrrd to be not pro~n;;!:y and fuNy pa~d wifiu:i th,rfy ~30} days nex~ arrer ihe san:e severa:ty 6ecomr due and payab!e, wi~hout dema~~d or nof~ce.
cr ~c) in the event each a^d eve~y ~he sfipu'anons, a3reemer.ts, cor,@,~;ons and rovenants of sa d pre•~~~ssory note a~~d rh,s n;ortgage any or e+the~ a~e not
1~fy, promptly an~J !ully perfonned, d.scharg._d, eaecu~ed, eifected. comptered, comp;.ed v.~~h and ah~d~•d Sy, ihen in e~ther or any such event the sa~d ag-
~~eyare sum mentianed in sa:d pro~n~sso~y note thrn ren,aming unpa~d, w~~h in~ere;t accrued, and a:i mon~,s secured hereby, shatl oecome due and pay
ac e forthwith, o! th~reafter, at rhe o~~~ion of sa~d ,LtOBiGAG~E, as iu:ly arx! comp;erely as if a~l of tl~e s3~d s~rns ot money aere o~~ginaily st.pu',ated
te be pa:d on such dcy, anytF,;ng in sa.d pro~n~ssory nete or ~n this 6lortqagr to the tontrary not~,~thsts~~d,:~g; and ~h~reupon or ~hereafrer a~ ihe opt~on of
s,:d MORTGAGEE, w~tho~t nor,ce or demand, surt at iew o~ in equ~ty, therefore or thereafter begun, may be prosecured as if a!1 moneys secwed he~eby
r_d m.atured pr~or ro rts ir.stitvt~on.
7. That in the event that af the beginning of or at any time pend~ng any a~rt upco ~h~s ~datgage, or to torectose it, or to refo~m it, or to enforce
G~:mfnt o4 any t~aims hereunder, se~d ~AORTvAG=E shal: apply to the Court havir,g ~unsd:ct~un thereof for the appo~Mmem of a Receiver, such Covrt snail
r;;.rhwith appo;nt a rece~ler o1 said mortgayed proprrty a!I and singula~, in~Iud ng a;t and sinqu~ar the i.^.come, protas, issues ar.d reve~ues from N,h,tzver
s; ~rce derived, eech and every of wh ch, ~t be~ng expressiy undersrood, ~a her_•b~ mortgaged as N spec~ficaiiy set forth and dFSCribed in ihe granting and
h,E;endum ~!avses her~o(, and wcfi Recr~ver shail have afl the br;,ad and effect:ve iunct:ons and pr..ers fn anyvf~se entrusted by a Cour~ to a Receiver, and
s.:h appointment shall 'x made by wch Co~~t as an adnitted eq~~'y and a matter of abso~~te r~ght to saEd MORTGAGEE, and w~thcut referente to the
edequacy or inadeqvacy of the va?ue of tne praperty mo~tgaged or to the so:vr~uy or ,n:e~~:ency of sa:d M.ORiGAGOR or tt~e defendants, a.^•d th;t such
re•vs, proffrs, income, issues and reven~es sFali be appl~ed by wch Rece~ver accord~~~g io ~he Len or rqu~ty ot said ~dOATGAGEE a~1d the practice of s~ch
Court.
8_ To dv!y, promptly and f~~!y perforn;, d~scharge, execute, ejfett, corr.plete, c~rnpiy w~th and abide by each and every the stipu~ations, agreemeNS,
:cedit~ons and eovenann m sa+d prom~ssory nete an~ ~~;s mortgaye set forth.
9. That in tF.e event rFe ownersh~p of the mortgaged prern~ses, or any part tieereof, cecomes vestrd in a persun other than thr h!CRTGAGG'R, thc
: ~QiGAGEE. its wccesscrs a~.d ass gns, .,ay, .v~thow nonce to the ;',pRiGAOR, deal wrth such successor w successor ~n ~nterest w~th reference to this
~•rg3ge and the debt t~ereby zacured in tt,e same manner as wirh Ltorrgagor w:rhovr in any way vit.ating or d.scharg~r.g the Idortgagors' liaoiiity here-
:,-,der or upon she d_bt here:;~ secu~ed. No 53!e of the premises hereby n,ortg~qed ar,d no forbearance on the part oi tha /dORTGAGEE or its wccessors
assigns and no exrens~on of thg r~me ior rhe payment of the deb~ h~reby secured given by the MORTGAGEf or its wccessors o~ ass:gns, ahall operate
ro re!ease, d.scharge, mc,defy ~hange or a'fect the or~g,nal liab;t.r~ of tne A.ORTGAGOR herein, either in whole or in part.
10. It is spec+f~c,~fy r.g~eed thae time is of the es:en~e of this contract and that no waiver of any obl~gat~on hereunder w of f5e obligation se-
cvred hereby shali at an~ tin~e thereaiter be he:d to be a wa~ver of the terms hereof w of the inslrumeM secured he~by.
11. In a:id:t~~~~ ro tiie iorene ng ~nor.th'y paym:nts of prir,c ~a! and inrerest required by the prom~sscry no~e secured hereb~, mortg3gor covenanrs
:-d agr;-es to pay to mortgagee ~nirh each mo~:tF,ly pa~,.,ent an aad~c~onai sum es! ated by mo~tgagee to be eqval to 1 12 of tl~e an:;ua! cosr of the fo!low-
,3: •
A-All real ~rope•ty t3xas Ic:ie,a, or ass_~sscd og3e•~st ~hc ahove descr~b• d r~-al estate.
6- Pn n+u r~S o~ f~r~-ar.o w~ndsro~•n inzv~~cce as i:ere:n r~~q~.red to be ca.r~. d c•o tha .r.,prove~ne~ts s~1J3tn on the above d_scr~bed premises.
' C-Pre~~~u:*s on ;~~ch mort3age guaranty inwra- ce as m~rtyagee sha~l fro:r. t me ta time deem fit to carry on the loan sec~red here6y.
ldo~tgagee sh:! f~cn r;~-:e to t~:-•e nor;f; mercgager ;n writ~ng of the a~-o~•it d~e and payable hereunder and s~~ch w~~ shall therevpon be due and
.,:able on the d,e va*e cf the next n;onth:~ pa~:nenr and each successrve ~•o~rh tnereafr~r ur.rit mcrtgagee shall notify morrgagor of a change in such
~~~r. Such s~~r.s s~~.`. t;e app:~ed uy mor;nay~:~~ tuwa.d the pa~ment of real property taxes, insuraiue prem.ums, and mortgage g~a±anty inwrar.ce
~ :"e:niums.
IN LVtTPIESS ::NEREOF. the sa~d Il10RTGAGQR has hereunto set h~s hard and scal the day and y~ first afore d.
5~ Sealed and detive i th presence of: .
(Seal)
_ - ~ i (Seal)
- . (Seal)
aQ
i
E S'ATE OF F~ORIDA ~
` S t; Luc i e
~JU!J7Y OF _ j
E 8etore me personally appeared Edwin 5aunders and FZaT1C@S _f{. Saunders, ~'115 wife a~d
` Carlton Edwin Saunders and Mne L Saunders
; his wife, to me well known and known to me to be
rhe individuaSs described in and who executed the forego~ng instrument, and acknowledged before me that they eaecuted the same fw the purposes
i
~ rhere~n expressed. And the sa~d Frances H Saun Et5 ~ife Of thQ Shc E WIR Saun
.~~~.t~~tlti~
~ r::'e of the sa~d _ C~I~OIl EdW1I1 Saunders w~.~ 1N1 ~~Ste
: e•a-n:naf:on by me taken separate and apart from her sa~d husband, ackrrow;edged to and before me tnat she executed~said:in t~yjpsC~~keej/.~rts{;~lum
j ~3~~;y and wrthout any comp~ision, constraint, apprehena~on, or fear of or from her said husband. . ,~r ,
; WITiVE55 my hand arid offic~al seal this_-. 1Sth _ day of~ December ~ - A_.p
! ~ ' ~ ` R 1 f - .
Notary Pub~ic in and for:l~l~S1St8 f Fbrida at [arge ~
My Comm~ssion expires:'` ~ r~ -
1 Retum To: :'J'~. U ,r ~ ~
= First Federal Savings a Loan Associat:on ' ~ A~ pT ~ uRQE
` O+ ~oit P..:ce. NOTARY} ~ •~~25. 19C1S
MY COlAMIS$I • Q~
~ 8onded Br Nnec~an nioa~s InsunrKa
~ort P,~rce, Fior~J~ a,
i
f LEO ANQ RECORDEO
' S~, lUC1E COUMTY fLA.
` This Instrument Prepared By Richard K, Kayes ROCER POITRA4 ~
~ First Federal Savings & Loan Association CLERK C1RCUtT COURT rn
' of Fort Pierce , F lor ida RECORO VEAIFIED.,~.~~
Checked 8y OEC 15 3 4~PM ~1~
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t s°aoK ~9 ~ 24:3813
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