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HomeMy WebLinkAbout5142 3. To plate and tont~nuo~sly ?eep on the b~~'d~n~s now or hereafter ~~tuate on sa~d ~and and on ali equipm<M a~~d personally covered by th~f morig- egs, w~~h atl pren~:ums thereon pa~d ~n f~11, f~re insurance in tne ~sval srandard poficy form, in a sum appro+ed by the htOR~GAGEE, and wmdstorm lnsuronce in Iha uaual standa~d po~,cy form, in ~ sum approved by the MORTGAGEE, in such co+npany or compan~ea a~ the ~410RiGAGEE may direcl; a~d all fi~e and w~ndsTOrm insurance potfc~ea on any of said build~ngs, any interest therein o~ pa~1 thereof, in ~he aggregare wm aforesa~d o~ in eacess thrreof, shall :onfain ~he usual sta~zdard mongagae clause o~ •uch other ciauss ts the Mortgagee may requ~ro, maAing ~he lou ~ndr. sa:d poli- cies. each arxl every, pdyab'e to said .1JRTGAGEE as ~~s in~rrzs~ may apprar, and each a~:d every such po~~cy sha~l Le p~omptly ass g~~~•d ard deiivered ~o any heid by sa~d MORIGAGEE as iu~~her srcurity to aa~d n~ortgage debt, and, not leu than ten (10) days in advance of the~ eap~rat~on of each pot~cy, to de- Gver to seid h10RIGAGEE a rerewal ~hereof, togethrr wiih a rece~pt foi ~he promium of wch renewa~; and there shall be no t,re or winds~orm inswance placed on any oi sa~d bu~Id+nga, any inieres~ there~n a part ~hereof, unles~ in ~he form and wiih ~he ioss payable as afo~esa~d; a~d in the eYem any sum of moncy becwnrs payable ~~~dcr such policy w pol~cies sa~d MORTGAGEE sh,ll have the opt~on ~o iecrive and apply the same oo acco~nl 01 the i~xiat~frd- ness secured h~~zby or ro pe.m~f sj~d MI~RTGAGORS to recerve and use it or any part thereuf to. o:i,rr pur;,~srs, v.~~t~o~t thr~u. .._~.~.~3 c~ ~~~~p,,~r- ing any equ~ty, Ilen o~ right ~nder w by virtue o+ Ihis mo:'gage; and in the event sa d MORTGAGORS shall fo~ any reason fail to keep ~he said premisas so inwred, or fail to drLver prumptly any of seid policies of insurance fo sa~d MORIGAGEE, or fa~l promptly to pay Eu~ly any prenuvm therrtw o~ in any respect fa;l to perfo~m, d~s,harge, ex~cu~e, effect, camplefa, compty with and abide by tfiis cove~ant, o~ any par~ hireof, Said MVRiGAGEE may p~ate ana pay (a such insurance o~ any part thareof w~ihout waiving w affecting any option, lien, equ~ty, o~ nght under or by vnwe of th;s Mortgage, and the full amo~ni oF each and every suih paymrnt shall be immed~ately due and payable ~nd shall bear interest frum ~ha date thereof until pa~d at the rate ol n~ne per centum eer annum dil(I fJOl•~Fl@f 'A11F1 such ~nre~est shai~ be s~~cured by the lien of thii mwtgage. 1. To permit, commit or suffer no waste, iinpairment a deteriorat~on of sa~d property w any parl thereof. 5. To pay atl and singufbr the costs, charges and eapenses, including a reasonable atto~ney's fee and costs of abstracts of ti~le, incur.ed o~ pa~d at eny ti~nz by said MORTGAG'.E, brca~se w in the event of the fa:ture on the part of the said MORTGAGOR to duly, pro~~prfy and tully pe~form, d~scnarge. exec~te, efied, comp:ere, tomply wdh and ab:de by each and every ~he stipulanons, agreements, conditions, and covenants of se~d prom~ssory note and thi~ rr.ortgage any or either, and sa:d costs, charges and expenses, each and every, shall be immed~a~ely due and payable; whe~her w not thare be nof~ce d~ mand, atte~npt to cotlect or suit ~nd~ng; and the 1uf1 amount of each and e~ery such payment shall bear interes~ from Ihe da~e thereof until paid at the ~~re o~ nme per crntum per anrwrn; and a+1 said costs, charges and eapenses incurred o~ paid, ~ogethrr w~th such inrerest, shall be secured by the ~ien of th~i mortgage. _ 6. Tha? (a) i~ the event of any breach of thii Mortgage or default on the part of the h10RTGAGOR, w(b) in the event any of sa:d sums of money here~n roferred to be not prompdy and futly paid wi~hin thuty j30) days next airer the same severa:ty 6ecome due and payeLle, w~~houi demand or nonce, ei {c) in thr event each and every the st~pu:ario~s, agrecments, cond~rio~s and covenants of sa.d promissory nofe and th~s mortgage any or either are not ~uty, promptiy and fully performed, d:sc6argc~, e~ecuted, effeued, comptetrd, compGed w~th and abided ~y, then in e~ther w any such event the sa~d ag g~egate s~m menrioned in said promissory rwre then remaining unpaid, with interest acu~ed, and a11 moneys secured hereby, shall become d~e and pay- able fcrthwith, w thereafter, at the opf~on of said MORTGAGEE, as fuily and complete~y as if all of fhe said s~ms of rtwney we~e or~ginatty snpulated ro Ge pa~d on such d~y, anyfhlrx3 in sa.d p.omisswy note or in this Mortgage to the contrary non~?iihstanding; and thereupon a thereafrrr at the opt:on of sa;d MORTGAGEE, without nor~ce or demand, suit at law w in equity, tAerefore w thereatter begun, may be p~osecuted as if all moneys secured hereby r.:d matured pnw to its insutunon. 7_ That in the event ~hat at the beginning of w at any time pe~ding any su~t upo~ this Mortgage, or to fweclose it, or to reform it, or to enforce payment of any cia~ms hereundar, saio MORTGAGEE s~~ali apply to the Court hav~~,9 ~ur~sd:a~on thereo( for the appo~otmem of a Rece~~er, such tourt shali io:thw~th appeint a receiver of said mortgaged p?operty all and singular, includ~ng all and s~rgula~ ~he ir.come, pro}~ts, issues and reve~ues Irom whatever s: ~~rce derived. each and every of wh;ch, it being eapressly understood, is hereby mortgagrd as if spec:fically set fwth and described in the granting and h~,aendum cla~ses hereof, and such Receiver shall have a11 the broad and effect~ve f~ncr.ons and powers in anyw~se entrusted by a Court to a Receiver, and s_ch appoimm~:il ~hall be made by such Court as an admitted equity and a maner of abso:ure r;ght to sa~d M02iGAGEE, and w~shout reference to the e~feq~aty w inadequaty o4 the value of the property morigaged or to the so~venty or insotvency of said MORTGAGOR or the defrndants, and that suth ~_•~n, prof]ts, income, issues and revenues shall be apptied by such Rece~ver accord:ng to the tien or equity of said MORTGAGEE and the practice of such Court. @. To dv!y, prompt:y and fu;~y perform, discharge, exec~te, effect, complete, con,ply w~th and abide by each and every the stipu!ations, agreements, cor,ditions and covenanrs In sa~d promissory note and th;s mongage set forth_ 9. That in ~he event the ownership of the mortgaged prrm~ses, or any parl thereof, becomes vested in a perwn other than the MORTGAGOR, the .•ORTGAGEE, ifs successors and asvgns, may, w~thout notice to the h10RTGA02, drat wifh ',vch wccessor w successor ~n interest ~vlth refrrence to th~s r. o-tgage ar.ci the debt Fereby secured in the same manner as with Mortgagor without in any way vitiating or d.xharging the Mortgagors' liabildy herE ; nder or upon tne de6t hereby sec~red. No sa;e of ihe F~emises hereby mortgaged and no forbearance on the part of ~he M10RTGAGEE or its successors or ass~gns and r.o exrension of rhe time 4or the ~ayment o4 the debt hereby sec~red 9iven by the MORTGAGfE or its successors or ass~gns, ai~all operate ro re!ease, d~scharge, modify cnange or affect the origmal fiab~Gty of the MORTGAGOR herein, e~ther in whole or in part. ~n ~.l:~.u. ..s ..s .1.:. .L.. ..i .3.1: 1.e ...L. ..t •6e ..L.1:..~•:.. .v. ~'..'~j~ ~ v. . ..v v .y=.. ..J~..~.. cvred hereby sha~~ at any time thereafter be held to be a warver of the terms hereof w of the instrument secured herby. 11. In ;dd t:c~ to the forego ng month!y paym>ms of princ'pal and interest requ~red by fhe p~om;ssory no!e secured her~•by, mortgagor covenants e~.d agr~es to pay ro mo-tgagee v~~th ea:h mcrnh'ry pay~~:ent an ad3~rional sum est~:rared by mortgagee to be equal to 1, 12 of tha annval cost of the follow- A--Afi rcal property idaes le~~ed o+ aesessrd agai•~st ihe above des~~ibed rea! estate. ~ B F~_~ r•s on fl.e and windstorm ir.SU~ar~e as here~~~ reg~.::red to be carrlcd on the Improvemeo~s s:tuate on tf,a abave d;scr~6ed premises. j C-Pre,n,~.~ns on soch mortg~ge guar,;nty ~rsvra~,,e as mortga^yee shai~ fror- tme To time dcem fit to carry oo the loan sec~red hereby. 'f Mo.tgagee sha:! f.om n~„e to t~:ne no~if; rrortyagor ~n writ;ng of the a~~ount due and payable hereunder and svch w~~ sha;l thrre~pon be due and E ..+:~ble on !he ciue date of f!~e next month! j payment and each successive rnonth rhereafter ucNi mo~tgagee shall not.fy mortgagor of a change in such ~ cunt. Su[h sum.s shar. 5e ap{~:ied by mortga~~e to~ard the payment of real property tazes, i~surance prem,ums, a~~d mor:gage guaranty insurance ' . ~~rnivms. i IN \YIT~~ESS YiH.REOF, the sa~d MORTGAGOR has hereunto set h~s har.d and sea! ihe day end year first a!oresaid. ~ S~gned, Sea~~w delivered in the presence of: ~ ~ _ v ~~'i'a ~ ?L~ (Seal) ~ - ~ L~ ~ C `(seaq ~ _ S c !~-~i=~ ~ al) _ _ Blaine L. Madison ~~aq ~ ~ M ~ S.:i E Of slf)RI9A ~'}}'iTT42'~ 1. S S C~? r. ~ u. ~ ~JI;NTY OF a h~ 1 ~ Before me personal~y appeared I.01113 C. ~d15aII~ a~ ~ $lalllQ l.. MdCi1SOY1 his wife, to me welt k~own and known to me to be ~ rn~ individua~s described in and who executed the fwegoing instrument, and acknowledged before me that they executed the same for the purposes 2 rherein expressed. And the sr~a__ Blaine L• ~d1S0l1'_ ~ Fe of the said ~u1S C~ Madison , upon a separate and private ~ e.am r.at:on bv me tai.~n srparate and aoart irnm her sa~d husband, atknowledged to and before me that she executed sa~d instrumem freety and volum ~i~ ar,d wnho~t any comp~;sion, constrainr, apprehens~on, or fear of w from her said husband. ~ ~ WITNFSS my hand and offic~al seal this__ ~ h day of A. D. 19-~_ ~ ~ Notary P ic in and for the State of F{orida at targe/y _ ~ My Com i sion expires: ~„M0.hy : ~7'/~ Return To: ~ERRY NOLT " ~ : First Federal Savings b loan Aswciat.on Of Fcrt Pc•ce. ' . Fo*' P~rrce. Ficr~Ji . . . _ ~ ' = f ILf D 1?M = RECORDED i • , . , . : ~ 3 ST.IIlGIE CaUN1Y flA- ~ , , . : ~ ROGEF r3=TRAS t~ ~ • . - v- CLERR C!?CUfT COUiIT . " _ ' . This Instrument Prepared By ,J~ H. Roberts Jr. P.fC!'°~' ~EF~~I~U~ - First Fe dera l Savin s 8 Loan Association ~ ~y ~J O~ of Fort Pierce , Florida .~M 8 9 32 fK~ . . n ~ ~ - wa Checked By 245061 ~ ~ ~ ~ R ~09 2'1.34 600K ~ 1s ~ - - - - - - - - _ _ ~ ~ ~Y ~ . _ ~ ~ ~t..- . .