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HomeMy WebLinkAbout3491 3. To place and cont~nuo~siy krep on ihe bu~'d~~~gs now or herrafter s~~uate on sa~d tand and on al1 eq~iF:nrnt and pe~son~lly covP~ztl by this mottg- ege, w,rh all prem;,,n,s fhtveon Fa~d in full, f~re insurance in ~hr usua{ star.;iard policy (orm, in a wm approvrd by rhe A,1pR~G:.G~E, and w~~~ds~orm insurance in ~ha~ uwal i+anda~d po::cy iw.m, in a sum appro:rd by the MORTGAGEE, ~n such company or compan:es as the MORTGAGEf .nay d~retl; and all fire and w~~dstorm inwrance po~~c~rs on any of sa;d bu;ldmys, any interest therein or part lhcreof, in the aggrega~e sum aforesa~d or in exces~ Iherrot, s?~a? contain the uswl srand~rd morrgayae ciause or :uch other ciause as the Mo~tgayee may requ.re, ma?ing ehe io;s ~ndrr sa~d poti- c~es, each and eve~y, payab!e to sa~d AtpRTGAGEE as ~ts inrerst may appear, and each and tve~y s~ch po'+cy shal! be prcn,pt:y ass ynrd and detiwer~d to nny held by sa~d MOR(GAGEE as fw~h,rr seturity to s3~d mo~t~age d~bt, and, not iess than ten (101 days in ad~ance of thz exp~rat~o~ of each poi~cy, to de- I~ver to said MORTGAGEE a renewal ~hereof, togethar with a rece:pt for the premium oi such renewaf; and there shall t~e no f~re c. wi~~dsro~~n in~wa~ce pta:ed on any of said bui~d~ngs, any inte~est there~n or part fhereof, unless in the torm and wi!h ihe loss Fayable as afoiesaid; and in the event any sum of money becomes pay~b~e under such poticy a pot~c~es sa~d h10RTGAGEE ih;il have fhr opt:on to rec~~ve and apply the same on account of the i~~d.abted- ness sec~red hereby or to perm~t sa~d MURTGAGORS 1o receive and use it or any p:~re thc:~~of ior ocr~•r Hu~f-~srs, v.:~i,o::t thr.u~ u~~p:.~r- ing any equify, lien w right ~nder w by virwe of this mor'gage; and in the even~ sa:d MORTGAGORS shall for any reason fail to keep the sa~d premises so ~nsured, or fail to deliver promp~ly any of said pofties of ~nsura~ce to sa:d MORTGAGEE, or fa~! promptly to pay fu~ty any pre~rs~um rheretor or 'en a~y respecr fail ro pe~form, d~scharge, execute, eiied, ca~~plerr, co~nply with and ab~de by th~s covenanl, o~ any par~ hzreof, sa~d MORi;;AGEE may piacr a^a pny ior such insurance or a~y part thereof w~~hout waiving w affecti~g any opt~on, lien, equ~ty, or nght under or by vin~e of this Mo~tgaqe, and the full amo~N ef eath and every such payrr.em shail be immcdiately due and payable and shall bear interest irom thr date th~reof uritil pa~d at the rate ol n;ne per cent~m ann~m and to3,thcr with wch imr~est ahaH l~ s~~c~red by the ~ien of this mottgage. 4. To permit, commit or suffer no waste, impairment o~ dete+Iotation of sa~d property w any part thereof. 5. To pay all and singula~ the costs, charges and expenses, including a~easonab!e attarney's fee and costs of abstracts of titfe, incurred or paid a~ any time by sa~d MORTGAGEE, Cecause or in the event of rha fa~iure on ~he part of the said M~RTvAGOR ta d..ty, pro-r,pt:y and fu!!y ~rfo+m, d~scharge. e:ecute, efied, canplere, comply w~th and ab:de by each and every the stipulailons, agreen,ents, cond~t~ons, a~d covenants oi said promissory note and ~h~s ' --!c! c__._. ~h~~~ee .•.nwnu.a, aa~h and eve~v. shatl be immediately due and payab~e; wherhe~ or not ~here be nor~ce dr mand, altempt~fo.co~leq or suit pe~id~ng; and the full a~TOUnt of each and every such paymeN ahali bear ~nterest irom ine oare tnerroi v~~i~~ No„i ai ::,E r.~te of nine pei cenrum p~r an~~,::n; ~nd all iaid costs, chargcs and expanses irxu~red or paid, together w~th wth interest, shall be secured by the lien of th~s mortgage. b. 7hat (a) in the event of any breach of this 1Nortgage or defaull on the part of the MORTGAGOR, cr ;b) in the event any of sa:d sums of money herein referrcd to be not pro~npily and fully paid w~fhin th~~ty (30) days nexi ai~cr fhe same severa!ty beto~~e due and payable, w~thout demand o~ no~ice. or (cj in the even: each and every the stfputanans, agreemenrs, condirrons and covena»ts of sa,d promissosy note and th:s mortgage any or e~ther are not ~uly, promptly and fully performed, d.scharged, execured, effeded, completed, compi~ed w~~h and ab~ded 5y, then in ei~hzr w any such event ~he sa~d ag- gregate sum mem~oned in said pran,issory ncte then remaining unpa~d, with intere;t accrued, and ait moneys secured hereby, shall becum.e due and pay- aole forthwith, or thereaf~er, at the opt~on of said MORTGAvEE, as fully and compte~ely as if all of the said sums oi money we~e or~ginally s~~pyla~rd to be pa;d on s~ch doy, a~ything in sa:d prom~ssory note or in this Mortgage to the conira~y notwithstanding; and thereupon or thrreafter at the opt~on of sa~d MORTGAGEE, w~thout nonce or dema~id, svit at ~aw w in eqwty, there3ore ot ?hereafter begun, may be prosetuted as if all moneys secured hereby r.ad mawred pnor to ~ts inst~tunon. 7. That in the event that at the beginning of w at any time pending a~y su~t upon thiz Mortgage, w to fwectose it, or to reform it, or to enforce F~yment of any cfaims h¢.eundrr, said MOR7GAGEE shaEt apply ro the Court having twisd:uion thereol fo~ the apao:ntmen? nf a Receiver, s~ch Court shall Forthwirh appomt a receiver o4 said mortgag:d proptrty all and sinqular, in~lud~ng ail and sinqv~ar the intome, prafds, iswes and revenues from whataver aource derived, each and every of wh~ch, it being expressly unders~ood, is herebK mortgaged as if speuficatty set forrh and described in the g~anting ar.d h~bendum clavses hereof, and such Recriver shall have alt the broad and efiecnve funu•ons and powers in anyw~se entr~sted by a Court ro a Recri~er, and s_ch appointment shail be made by svch Court as an admittrd equify and a maner of absolute right to said MORTGAGEE, and without reference to the adequaty w inadrquaty of the va:ue of the property mortgaged or to fhe so.vency or msolrency of se~d MORiGAGOR o~ The defendantS, and that svch re~rs, profits, income, isiues and revenues shail be applied by such Rece~ver accord~ng to the lien or equity of said A10RTGAGEE a~d the practice of such Court. 8. 7o duty, prompt:y and fu[!y perform, d~scharge, execute, effect, complete, camply w~rh and abide by each a~d every the sNpu;ations, agreements, conditions and covenants m sa~d promissory note and th~s mortgage set forth. 9. That in the event rhe ownersh~p of the mortgaged prem~ses, or any part thereof, becomes vested in a person other than the MORTGAGpR, the htORTGAGEE, its successors dnd assigns, may, without notice to the AM1ORTGaOR, deaf wi~h such Successor or wccessor in interest wirh referente to this ^~o~fgage ard rhe deot hG~EDy secured io the same manner as wifh Mortgagor w~~hovt in any way vitlating or d~uharg~ng the Mortgagors' liability here~ undet or uFon the debr hereby secured. No sale of the rrem~ses hereby mo~tgaged and no forbeara~ce on ~he pari oi the IAORTGAGEE o~ its svccessors or ass~gns and no exrensio~ of the time for the payment of the debt hereby secured given by ihe MORiGAGEE or its successors or ass;gns, ahall operate ~o re!ease, d~scharge, mod~fy change w affect the orig~nal lian~l~ty of the M.ORTGAGOR herein, either in whole or in part. 10. it is spec~fically agreed that time is of tt,e esse~ce of ~his contract and that no walver of any obligat~on hereunder or of the obtigation se- cured hereby snatc at any time +hereafter be hr'd to be a waiver of the terms hereof or of the insrrumenf secured harby. I1, In add,ro~ to the forego"ng month'y payrnents of princ pai and interest requ~red by the p~om ssory note srcured hereby, mortgagor eovenaMs a•,d agrees to pay to mongagee w~th each momh:y pay~nent an addaional sum ess~~z,ated by mortgagee to be equal to 1; 12 of the anr.ual cost of the follow- A-AL' real property taxes lev~ed or assrssud aga~•.st nc~ a6ove described ~ea~ es~ate. g--p•~m~u•r.s on fi~z and winds~orm insvrarce as nere~n requ:red to be carried en the improvements s~tuate on the above dsscr~bed premises. C-Premwms on s~ch mortgage g~aranty ir.su~a~ ce as mcrtgacee snail frcm t me to t6ne deem (et to ca~ry on the loan secure~ hereby. ldortgagro_ shall from f~me to time not~fy mornyagor in wrn~ng of the a~nou~t dve and payable hereunder and such surn shai( thereupon be due and ; jyable on rhe dve ciate of ~he r.ext month:y payment and each wccessive month ~hereaftar ur,ti~ mortgagee shall notify mo:tgagar of a cha~ge in such .~.ovnt. Such sums sha;l l.~e app:ied by mortgagze tovvard the payment of real properiy taaes, insurance prem,ums, and mortgage gua~anty insurance c'emiums. IN WITNFSS V.HfREOF, the said FdORTGAGOR has hereumo set his hnnd and seal the day and r first aforesaid. Signed, Sealed and del:ve d in t presence o~: ~ ~ , !%~/SG~~/ (Seal) , ~ - (Sealj - ' ~ {l!'1r~ v ~f L~ i1 (Sealj , ~ ~ (Sea!] i S~ATE OF FLORIDA - ~ St. Lucie CoUNTY OF ( Before me personally appeared Robert C. ReaYdon and ' Doris I. Reardon h~s wife, to me well known and known to me to be tne individua:s described in and who exec~ted the fotegoing instrument, and acknowledged before me that they executed the sarrK iw. tF~t pvrpozes rherein exgressed. And the said ~Y~S 1 ~ Reardon - ' :.~fe of the sa~a ^ Robert C~ Reardon op~q~e'3eparater and+privats i exam~nation by me taken separate a~d apart from her said husband, ack~owledged to and before rr~e that she executed said'i~stru~ent freFl~. acX~ JDtvrt- i ra~~{y and w~thout any comp~lsion, c~nstraini, apprehens~on, or fear of w fr F~r said husband. 14th ~ WITNESS my hand and official seal th~s__. day of ~C2 @Y /l,-D. ~4 ~S~- ~ ~ ' ~ . - otary Pub(ic in an for t e S1aje~y FTwid t larg! , y Comm~s~ion expire YCA ~y ,l~s. ~ ' Retum To: • - ~v j.~ ' ~i, ' - • - i: First Federal Savings 3 toan Associat~on , j•' ' f,, Of fort P:erce. •r' furt P~rrce, F(crida ftLEO ANO RfCOR0E0 fL LUCtE ~OUMTY Fu. lIOCER ~O~tRAS GLEAII GkCUtT COUR1 This Instrument Prepared By J~ H. Roberts~ JZ. RFC4RDYF~~:~Ep First Federal Savings 8~ Loan Association of Fort Pierce ~ Floriria S SO YL1. Checked By 2~3942 8U~!! ~V J PAGf 4~ ~ _ . ~ . _ _ _ ~ ~ ~ _ _ . z: .