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HomeMy WebLinkAbout5138 3. To piace and conrinuo~sly keep on ~he buiid~ngs now or he~eaiter s~fua~e on sa~d tand and on al{ rquipmrnl and pe~sonatly covrred by th~s mor~g- ags, with all prem~ums thzreon pa d~n futl, l:re in~wance ~n ~he us~sl stendard polity iorm, in a~um approved by the MOR(GAGEE, a~~d w~ndsrorm insutance in Ihe us~al standard po~~cy form, in a sum approved by tAa MORTGAGEE, in such company or tompan+es as the MORfGAGEf may d~rect; and all fire and w~ndseo~m inswance po~kins on any of se~d build~ngs, any interest the~r~n or part thereof, in the agg~ega~e sum aforesa~d or in excess thereoF, shall :on~aln ~he ~wal standa~d mortgaqee dause w such othcr c~ause as ~he 1Aor~gagee may reqv.re, maA~ng ~he ioss u~~drr s.+~d po~i- c~es, each and every, payab'•e to said A10RTGAGEE as ~+s i~~erest may appear, a~d each and every such p~~~cy fh~U lx prompny assg~~ed a~:d de~~.er.•d ~o any held by said VtORiGAGEE as furt~er azcurity to said mor:gage debt, and, not leu Ihan ten (10I daYS in ad~ance of thr eap~~at~on of each pol~c~, ?o dr- :rver to said MORTGAGiE a re~~wal ~hereof, loge~her wirh a receipt for the premivm o( such rene,~va'; and ihere shail be no f:re or wi~~da~o~m insurence ptaced on any of ia~d buildings, sny intere~t therein or part the~co(, unleu in ~he form and wiih the losa payable as aforesa~d; and in the e~ent any sum of money becomes payable vndrr such policy w poGcies said MORTGAGEE shall have the opt~e~ to reca~ve a~d appty tha se~~~e on acco.,nt of the indrb~~d- ness se<ur~J h¢reby o~ to pe~mit said MORTGAGORS 1o recrivs and use it w any part the:eof for otn.~ pu~F~:.ses: ...~nc,.:e ih,~.:,. ~~~.p,~'. ~ng any equ~ty, I~en w r~ght unde~ w by vir!ve o1 fhis mo:sga9e; and in the event ta:d MORTGAGORS s~all fa any reason fa~l to keep ~he said pre~nis;s so insured, Or }ai) to deliver promplly any o( sdid pol:ues of iniurance to said MORiGAGEE, or f~J promptly to pay fu ly any pre~nw•m cherc~or o~ ~n a~y respect iail to pe~(wm, d~scharge, exec~te, efFrct, compiete, tomply with and abide by th~s cove~~nt, or any part htreof, sa~d MGRT;,:.GEE may p~ace a:~d pe~ for suth insurance or any part thereof withaut waiving w aifecling any option, iien, equrtY. or ngh~ unde~ o+ by virt~e of tn~s Mertga~q and the full amouM of ea<A and every such payment shail be immediately due and payable and sha11 bear interes~ from tha date thereof u~~t~l pa~d at the rate ol n~ne per cenrvm per an~~m and to~ether wnh such inrerest shali be secvred by the lien oi th~s mortgage. 1. To permi~, commit or suf(er no wastc, impairment a de~erioration oi sa~d property or any parl thereoi. 5. To pay all and singula. the costs, charges and expenses, including a reasonable attorney's (ee and costs of abstracts of tirle, incurred or paid a+ any iime by sa~d MORTGAGfE, because or in the event of the failure on the part of the said MORTGAGOR ?o duly, prornptly and f~!Iy perforn:, d~scharge e¦ecute, effed, canple~e, comply w~th ar+d ab:de by each and every the st~pulanons, agreemems, conditions, and covenants o( sa~d promissory note and thi~ :nortgage any or eirher, and aa~d cosrs, charges and expenses, each and evVy, shall be immediauly d~e and peyabte; whc~her w not the~e be no~~ce dr mand, attempt to collect or s~it pend~ry; and the tult amount of each and e~ery svch payment ahall bear inrcreat from ~he date thereof u~~il paid at the ~,++e ui nine per centum per ann;,:n; a~~e~ all said costs, charges and ex~er~ses incurred or pa~d, togrther ~v~ih such inte~est, ahafl be secured by the iian of thi~ mOft9M)a. 6. That (a) in the event of any breach of thia Mo~tgage o~ default on the part of the MORTGAGOR, or (b) in the event sny of sa:d sums of money ~erein referred to be not p~omptly and fully paid wirhin th;rty (30) days next aiter the s~me aeverally become due and payable, without de~nand or notice, or (c) in the evero each and every the snpu~ations, agreements, co~~~~ions and cove~ants of sa.d prom~ssory note a~~d th:s mortgage any or euher are not ~uly, p~ompNy and fully performed, d:scharged, eaecuted, effected, compieted, compGed wirh and abided 5y, then in e~~her w any auch eve~t the sa~d ag- ~regate sum mentioned in sa~d promisswy note thrn remaining unpaid, with i~~erest accrued, and alt moneys setured hcreby, s~a~l be<ome d~e and pay- eo:e forthwith, or therea4ter, at the oprion of said MORTGAGEE, as fully and complete~y as if all of the said sums of money we~e onginaily st~pulated to be pa~d on such day, anything in sa.d prom~ssory note or in this Mo~tgage to the conna.y not.v+thstand~ng; and thereupon w ihereafier at the op:~un o( sa!d MORTGAGEE, without no+~ce or demand, suit at law w in equity, thereFore w thereafier begun, may be proucuted ss if all moneys secured hereby nad matured pna to its institution. 7. That in the event that ar the beginning of u at any time pending any svit upon this Mortgage, or to fweclose it, or to reform it, or to enforce Fayment of any claims he.eunder, said MORTGAGEE shatt apply to the Court having junsd~cnon tAereof for the appointment of a Receiver, such Court shail fo:~hwith appoint a receiver of sa~d mortgaged property al! and sing~lar, inctud~ng aI! and singutar the income, pro~~ts, iisues and revenues from whatever source derived, each and every of wh~ch, it being expressly unde:stood. is hereby mortgagrd as.if ~uficaily set fonh and described in the g~ant~ng and r3bendum cla~ses hereoF, and such Receiver shali have all the braad and effective funct~ons and pov~ers in anyw~se entrusted by a Courf to a Rec~iver, and s_ch appointment shall be made by such Cour~ as an admitted eqyity and a mafter of absotute nght ro sa~d h10R1GAGEE, and w~fhout reference to the edequacy or lnadequacy of the va~ve oi the property mwtgaged ar fo the so:vency or inioivency of sa~d MORiGAGOR o~ the defendants, and that wch re~rs, profits, income, ~ssuea and revenues shall be applied by such Rece~ver aaord~ng to the Gen or equity of sa~d MOP,TGAGEE and the prauice of such Court. 8. To duty, prom~~tty and fuI!y perform, discha~ge, execute, effect, complete, comply w~th and abide by each and every the stip~fations, agreements, :onditions and covenanra ~n said promissory note and th~s mwtgage set forth. 9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a perwn other than the MORTGAGOR, the ti".CRTGAGEE, its successors and auigns, may, wi~hout not~ee to the MORiGAOR, deal with such successor w successw in interest w~th reterence to th~s ~cortgage and the d:bt hereby secured in the same manner as with Mortgagw w~thout in any way vit~ating o~ d:uharging the ~Aortgagors' liability her~ ;,^.der or upon the debt he~eby secvred. No sale of the prem~ses hereby mwtgaged and no forbearan~e on ~he par~ of the N10RTGAGEE o? its successors or assig~s and no extension of the t~me for the payment ot the debt hereby secu~ed given by the MORTGAGEE or its successers or assigns, aiiall operate ~o release, d~scharge, mod~fy change or affect the orig~nal liab~i~ty of the MORTGAGOR herein, e~ther in whole or in part. iG. It is speufically agreed that time is of the essence of this contract and that no waiver oi a~y obl~gat~on hereunder w of the obligation se- cu~ed hereby shali at any time thereafter be held to be a warve~ of ~he terms hereof w of the instrument secured herby. _ I 1. In atid.rio? to the forego ng monthty paymems o~ piinc pal and irtrrest required by the promssory no!e se:ured herrby, mortga~or covenants 3nd agrees to pay to mortgagee v~~th each morohiy payr.~ent an add~rional sum es~~mated 'oy mortgagee to be equa{ Ia 1/12 of t}~ annuaf cosl of !he fol(ow- ng: A-AU real propzrty taxes le•ned or assessc•d aga~nst the above described real estate. B-- Pr~~n:.un:s on fire ar.d windstorm ~nsura~ ce as herein ~equ:red to be ca~r;~d on the ~mprovements s:tuate on the above described premises. ' C-Pre~~~iun~s on s~ch mortgage gua~anty inwra...e as mortgagee shall from t!me to time drem ft to carry on the loan secured hereby. Mortgagee shaif from ~~~ne to i~me norify morty;~or ~n w~iting of the amount ave and payable hereundrr and such sum shall ~hereupon be due and :~yabie on the due date of the next monrh:y pay~r.ent and each successive m.onih thereafte~ ur.ti{ mortgagee shall r:otify morrgagot of a change in such i o~~nL Such sums sFail be app:;ed by mcrtg3gee toward the payment of real property taxes, rance prem. s. and/~s~p ~rtgage guaranty insurance ; :.~..rwms. . ~ IN V:lTNE55 'r,IHER~OF, the sa~d MORTGAGOR has hereunro set his ha~,d and seal the da and ar first a~for saic~ . E Signed, Sealed and deliverp~ in th~ presence ef: ~ \ ( t _ ~ ~ ~ 1~r,~ l~ i...~ L(r 1 ~ - 1 L . S {Seal) - 1/ i' i a ~Z_~ _ ".c y~ ~C~t _ ~_[`i _ c 1-~ (Seal) ' ~ enn ' e M. A S _~~a~~ ~ - ~ r S~ATE Of fIORIDA ~ s St_Lucie ~JU'JTY OF - 1 ~ Betore me personai{y appeared ~ V 1 L t .1 . AddG15 _ and ~ Jennie 1"~, a(jamS h~s w~fe, to me well known ~nd kpqyin to'me to__be ~ rre individuafs described in and who executed the foregoing instrument, and acknowledged before me that they executed the sarQq.fw 4Fra- QurpOS~t , Jennie M. Adams ' : rh=.ein expressed. And the said - _ , ' ~ .::je of the sa~d _DeV1Lt .1. AdalIIS _~_~P9'~ a y~Eparate ihd!~pfivate ~ = e•am~nation by me ta4en separate and apart from her said husband, ecknowledged to and before me that she executed 4iid Tisfrument freely, d'volun- ~i and w thout an com u!sion, constraint, a ehen ,on, or fea~ of or from her s~d husband. . ' • ~:'.i ' `N " / Y D Pf' i ~ ~l~ ~ : WiTNESS my hand and official seal this__-~ f r day o~_~ DecewbQt • A. at t~ 72 . ~ y-~!_li1 j 1 ' ~ • ' . ~ ' . No~ary Pub~ic in and for ~the $fite_of F! 6t. L~r fe ' ,a My Commession eapires: j~ ~ .C - ~ : ' Return To: ' - first federal Savings 6 loan Associat~on ~~,~'~'l,~ ~ Of Fort P e:ce - Fort P:_~rce. Fivr~J~ it D ANu REC@R ET~UCtE COUYtr~ ( = ROCEF POITR~; This Instrument Prepared By J. Nal Roberts, JY . CLERK ~I:tCUtT CqIR1 First Federal Savings 8~ Loan Association RECORO YEP•FIE~ of Fort Pierce~ Florida .~w ~ 9 ~2 ~N'~3 Checked By ~ - ~ ~ ~x 2U~ ~,,cr 2-~5059 ~ _ ~ ~ - ~,~~s . . ~ ~ ~ ~ . ; ~ . .