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HomeMy WebLinkAbout4844 3. To p:a,e o:d .ont::i~o.::ly M.^ep on ?he bv~'~~^9s now o~ he.eatte~ ~~tuate on sa~d ~and and o~ ai; eq.+~p,nrm and penona~ly co~erad by this moreg- egs, wirh all premiums thereon pa:d in i~ll, lire insurance ~n the usual standard poiicy form, in a sum a~.prored 'ot the M'Jlt~~%~vec, and w~n~s~o~m ~nwrance in the uwal s~andard po::ty form, in a wm approved by tht AM1ORTGAGEE, in such to~r.pany or co~npen~rs as the MORIGAGEE may d~recr, and all fire and w~ndsrorm ins~iance pofic~es on any of sa~d buiid~~gs, any interest ~herein or part thereof, in the ayg~~•y.~~e s~~n afo~esa~d or in excess Ihe~eof, ahall co~iain Ihe usual standard mor~gngae dause o~ such ofhe~ C~dVS! as the Mor~yagee may ~eq~~re, moking fhr ~oas ~~~Jr~ s~~d poli- ues, each and every. payab:e to said 1NORTGAGEE as ~ts in~eresl may appear, and each and every such po~:cy shoil be promprly ass y~~cd a~~d dc:~.r«•d ~o eny hetd by sa~d MOR(GAGEE as further securiry to sald ~nor~gage deb~, and, no? Iess ~han ten t101 days ~n ao~a~~ce oF ~he e¦p~~et~on ot each pobcy, to da- Gver to sa~d MORTGAGEE a~enewal thcreof, togeiher wi;h a rece~pt fo+ the pre~n~~m of such rr•~awal; and ihrre shall be no fue or .v~~~dsronn inw~ance placed on any of sa~d bvildings, any interes~ therein or part thereof, un!ess in ihe form and with the loss payable as a4o~esaid; and in the event any sum of money becomes payable under such po~icy o~ po~~cies said MORTGAGEE shall have ~he opt~on ~o rece~ve ~nd apply the sa~»e on accoun? of the indabi~d- ness sec~red hereby w to permlt sa~d MORTGAGORS to receive and use it or any part ther~of to- o:n•_~ Hu~, osrs. .:•~i.o.:~ ~~r n~--~'J ,,,y d.,t ~ti~„f. ;;~~t ~j ~i .ti;, j~; ~6. .~an~ .a.d MC~~TTGAGORS shal{ for any reaso~ fail to keep the sa~d p~em~s~s so Insured, w fail to deliver promptly any of sa~d polities of insurante to sa~d MORTGAGEE, or fai~ p:omptly to pay f~i;y any pre~~~~u~n therrror or ~n a~y respect lail to perfo~m, distharge, execute, effect, tomplete, tompty with and abide by this tovenant, or any part hzreot, sa~d MORiGAGEE may p~ace a.d pay (or such insurance or any part lhereof without waiving w affecting any option, lien, equ~ty, or r~ght unde~ o~ by v~~~ue of ih~s Moi~gage, and thc full amoum of eath and every such payment shatl be immedlately due a~d payable and shall bear interest from tha date thcreof umil paid at the rate o1 n~nr per centum per annum and to~e~her wifh a~ch inrerrst shali tx srcured by the lien of th~s mortgage. I. To permit, commit or sufler no waste, impairment o~ deterio~ation of said property w any part thereof. 5. To pay all and singular the cos~s, tharges and expenses, indudmg a reasonable atrorney's fee and costs of absraUS of title, incuned or pa~d at any tirne by sa~d MORIGAGEE, because or in the event of ~he fa~lure on the pan of the said h10RTGAGOR to d~~y, prompNy and fuUy pe~form, d~schjrge. ~~ecute, effect, comptere, complY w~th a~d ab.de by each and every the st~pu~anons, agreements, conditions, and covenaros of sa~d prom~ssory ~ote ar.d ~h;s ~+ortgage any w ei~her, and sa:d costs, cha~ges and eapenses, each and every, shall be immed~ately due a~d payaU:e; whe~her or not fhere be no+~ce da mand, attempt Io caletl or suit pend~ng; antl the fuii amouni of each and evn~y w~h yay~~:cat tla7t ~tsr in`e;est !:o^.s !he da~e ~~•e^~ paid at the r,~re oi n~ne per crni~m pec an~~u:+~; and ail said costs, charges and ex~enses mc~rred or paid, together w~th such interest, ahall be secured by the l~an of th~t mortgage. 6. That (a) in the event of any breach of this Mortgage or defa~lt on tha. part of the MOR7GAGOR, or ~b) ~n the evrnt any of sa:d sums of money herein referred to be not promptly and 1u~ly paid within thuty (34) days next ai~~_r the same severa:ly become d~e and payable, witho~t demand o~ nonce, or (c) in the ever.t each ar+d every the st~pu~af~onz, agreeme~ts, cond~:ions and covenants ot sa,d promisscry ~o~e and th.s mo~tgage any or ei~her are not ivly, prompfly and l~Iiy performed, d;scharged, executed, effected. completed, comptied w~th and ab~ded 5y, then in e~ther or any such event the sa:d ag ~regate sum ment~oned in said promissory note then remaining unpaid, with interest accr~ed, and ail moneys secured hereby, st~all become due and pay ab:e forthwith, or thereafte~, at rhe opuon of sa~d h10RiGAGEE, as fu~ly and comp;etety as ii a11 of ~i~e said s~ms of money were ongma.ly st~pu,aicd to be pa~d on such d:,y, anything in sa:d prom~ssory note w in this Mortgage to the contrary not,wuhstanding; and ihereupon or thereafter al Ihe op+~on of sa;d MORTGAGEE, w~~hout not~ce o~ demand, suit at law or in equity, theiefore or thereafier begun, may be p~oaecuted as if all rnoneys sec~red he~eby nad matured pr~or to As institunon. 7. That in the eoent that at the beginning of or at any time pend~ng any su~t upo~ tF~is Morrgage, or to iorec!ose it, or to reform it, or to enforce payment o) any claims he~eunde~, uid h10RTGAGEE shall apply to the Court having iunsd.c!~on therrof for ~he appo~ntment of a Receiver, such Court shai~ fo~rhwith appoint a receiver of said mortgaged property all and si~gular, inciud,ng aii and s~r~gu~ar ~6a ;nco~ue, p~o~~ss, issues ar.d re.enues Irom whatever :c~~ce derived, each and every of wh~ch, if be~ng expressly understood, is F.ereby morrgaged as if spec~~~cai:y set forth and desu~bed in the graroing and nabendum cla~ses hereof, and s~ch Receiver shail have aIl the broad and effecr~~e funcf~ons and powers in anyw~se emrus~ed by a Co~rt to a Recciver, and s..h appointment shalf be made by such Cou~t as an admitted equity and a matter oi absolute nght to sa:d MOR?GaGEE, and without refere~~ce to the edeq~acy o~ inadequacy of the value of the property mor~gaged or to the so,ve~cy or insolventy ol sa~d MORIGAGOR er tne defendants, and ~ha~ such ra~rs, profits, income, ~ssues and revenues shall be appiied by such Recelver accord~ng to the Gen or equity of said M~RTGAGEE and ihe praUice of such Courf. - ' 8. To du!y, prompt!y and fu!!y perform, d~scharge, execute, effect, co~nptete, comply w~sh and abide by each and every the stipuiations, aqree:nents, ;onditions and covenanrs ~n sa~d prom~ssory nore and th;s mortgage set forth. 9. That in the event the ownersh~p of the mortgaged premises, or anv part thereof, becom¢s vested in a pe~son other than the MORTGAGOR, tfie 4'~RTGAGEE, its auccessors and ass~gns, may, wi:hout noTice to the ti'.ORTG~OR, dea! wnh s~ch successor or successor in interest v.~th ~eference to this ^~o•~gage and the debt hereby secured in the same manner as w~ih Llortgagor w~thout in any way vit:ating o~ d~scharging the Mortgagors' liabi;ity her~ ~:~~der or upon the debt hereby sewred. No saie of the Fremises hereby mortgaged at~d no iorbearance on the part of the ?~AORiGAGEE or its wccesson or ass~g~s and no exrension of the t~me for rhe payment of the debt hereby secured grven by the h10RiGAGEf or ~ts successors or assg~s, a~iaft operate _.e~__.o, a.~rti~.~a, ..-_~t4y ~h.,~~n ev affort thc nrenir.al liab~lity of the NORiGAGOR he~ein, either in whole or in part. 10. It is spec~(icaliy agreed that time is of the essence of this conrract and that no waiver of any ob~~gaf~on hereunder or of Ihe obtigation se- cvred hereby shall at any time thereafter be hetd to be a warver of the terms hereoi or of the ir~sfrumeM secured herby. I1. In add t:on to the foreqe ng month!y payments of pr~nc pal and inferest ~equ~red 'oy iF~e p~om sscry no~e sec~red her_br, mortgagar cove~ants d agrees to pay to rr.o-tgagee ~+ith each monrhiy pa~~.~ent ar, acid:rional sum est~n,ated by mortyagee to be equa~ to i, 12 of tiie ~n~~vai cosr oi the foiiow- ~ ~ A-All real property taxrs levied or assess_•d agai•~st the aF.ove descri'c,ed r,a~ es~ate. g--p.en ~u~ns on f~re and w+r.dstorm ~niu•ar.ce as herein reGu;red to be ca~r~~ d en thr :mrrovemeats s,tvate or. tha above d=scr~bed pramises. ~ C-P~em~u~n3 on such r.^.~rrg>ge guaranty ir.sura~~ce as mo~tg3gee shall frc~r r~~~r.e ro t~me dcem fit to carry on fhe toan securrd hereby. - ~ Mortgagee sha !'rem rl~ne to tk-ie ncnfy mcrtyagcr m wr~t~ng of the a~t.ov~r d~e and payable he.e~ndrr and sucfi su~~ she!1 thrreupon be due and ! :;~able on the d~e aate of !he n•~xt month:~ paymer~t and each success~ve moneh thereafter uc!ii mcrtgagee shall notify mortgagor of a change in such ~ ount_ Such s~ms stia;! 6e apF~:led by mo+tgag~:e toward the pa~ment of real propeny taxes, insurance prem,cros, and mortgage guaranty insura.^.ce ~ ~cmiums. ; IN V~ITP~ESS '::HEREOF, the said t10RTGAGQR has hereunto set h~s hard and seat the day and ycar first alcresa~d. ~ ~ aSigned, Sealed and defiv d in th 'presence ofc _ ~ t ~ ~ . - , / , ~ ~ - ~ - 'r • (Seaq ~ , , Jack C. S,~ith ~~aq ~ 1 t,r. • `-d ~ (Seal) ~ - F3everl A. S~ith cs~an ~ ~ ~ STAiE OF FLORIDA - ~ CJ~NTY Of St . ~.l1Cle ' S5. ~ Jack C. Sccith _ ~ Before me personally appeared ~ : ~nd Beverly A• SIII1~~1 his wiie, to me well known and krot~rA't6 rbe-~O be ~ ~ individuals described ~n and who executed the foregoin instrument, and acknowledged before me that they exewted the some'4oi tFx:pYtposes ~ ~ever ly • A. Smith . ' ~ ein eapressed. And the said- ~ . . ~ 'e of the sa;d - JdCIC r• SID1 t;T u~C~1`r.~~l s~a?t~~ ate A ~ em~nat~on by me taken separate and apart frem her said husband, acknowledged to and be~ore me that she executed Sa~d~(PS ~ erq ;?eS1 ~h l'_~, {u^' ~ ~.~.ty and w~thout any comp~~s~cn, constraint, apprehe s.an, ~r fear of or fi~m her said husband. ~ .l ~ WITNESS my hand and official seal this__ r- day of ~QC~lbe _ ~ .;19~ - ~ , ,l ~ ~ ~ ~ ~ _ 1_1 . , : Notaly PubGc in and io the ~~bf ~bri a rg1 My Comm~ssion expires: ~l v; Return To: i ~ - •Q~ . `a ~ s Tn~ ~ ~ First Federel Sav~ngs a loan Associat:on 'g~~,,I,I„","i1 ~ Of Fo~t P e.ce. Forr P~~:ce. F!c~id~ =ss fIlEO AM~ RECOKOE~ ' S1_ lUC1E COUNT`f FIA. r:~ aO,ER pOtTRAS L~ This lnstrument Prepared By J. H. Rober ts ~ Jr. ~~EFK ~:'.GU1T COllRT First Federal Savings & Loan Association REC~Q~ "''iED ~ of Fort Pierce, Flotida ~ O8 _ Checked By - ~ J~ 3 2•~ "~~3~i0 ~-~a 209 1~3? r~ ~S ~ 3 - „ ; Y ~ ~.~tT.2:.,. ~ , . . . ~i R,e~F"~".:.