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HomeMy WebLinkAbout1003 ~ ' 3. To ptace and co~tinuously leep on the bui:dings ~ow o? hereafter ~ituate on said land and on ali equipment and penon~l!y tovered by this mortg- sgs, with all premiumi thereo~ ;.a~d in futl, iire insurance in the ususl standard polity fwm, in a sum approvtd by Ifx MCRIGAGEE, a~d winditwm ~nsurance in ~he usual s+andard pol.cy fo~m, in a sum approved by the MORTGAGEE, in such company or companies as Ihe MORiGAGEE may dirett; and alI fire and w~nds~otm insuronte policies on any oi said buildings, any interest therein or part thereoi, in the aggregate sum aforesaid or in eacess thercof, shall contain the usual standard mortgagee clause a such othe~ clause as tM Mortgagee may reqwr~, malin9 rhe toss under ~a~d pol'r cies, each and every, payable ro sa~d h1QRTGAGEE as its inte+es! may ippear, ~nd each and every svch po6cy ahall be prompHy ass gned and delivered ~o any held by sa~d MORTGAGEE as further security to said mortgags debt, and, not leu than ten (10) days in advance of the expiration of each policy, fo da liver to said MORTGAGEE a renewal thereof, togetner with s receipt for the premium of such renewal; and ttKre shall be no k~e o~ windstonn insurance placed on any of said buildings, iny interest therein or pa.t thereof, vnleas in ~he form and with ~he tou p~yable as aforesaid; ar.d in the even~ any sum of money lxcomos payable under s~ch pality a policies said MORTGAGEE ahafl have the opt~on ~O reteive and apply the same on accou~~t of !he indebted- neu secured hereby ar to perm;t said MORTGAGORS to reteive and use i1 p any part ~hrrrof fo~ o;he~ purposes, v.~~hout th: or w~~~~:~3 ur „np~~.- ing any equ~ty, lien Or righ~ under or by virtue of th~a mp::gage; and i~ the event said MORTGAGORS shall fa any reaso~ fail to keep the said premis~s so insv~ed, oa fail to defiver p~anptty any of said pol~cies of insurance fo said MORIGAGEE, w fail promptly to pay futly any prem,u~n therefw.or in any respM fail to pe~fwm, d~schar9e, execute, eftecl, complete, comply with and abide by Ihit tovenant, or ~ny par~ htreoi, sa~d MORTGAGEE may place and pay fu such insurance or any part ther~of witFwut waiving or affectiog any option, lien, equity, or right under or by virtue of fhis Mo~tgage, and ths iu!! amount o) each end every such paymem shall be immediately due and payable snd shall bear interest irom tF~e da~e thereof un~il p~~d af the rate ot n~ne pei centum pe~ annum and to~ether w~~h such imeres~ shall be secu~ed by the lien of thi~ mortgage. 1. To permit, cammit or suffer no wa:te, impairment or dererioration of said p~operty w any part Ihercof. 5. To pay aIl and s~ngular eha costs, charges and expenus, inctuding a ressonable attorney's fee and cost~ of abstracts of t;~te, i~c~rrad o. p~~d a~ eny time by aa~d MORTGAGEE, because a in the event of the failure w? the part of the said MORiGAGOR to duly, promptly and fully perlorm, d~scharge, sxecute, effccf, comptete, comply with and ab;de by each and every the stipuluwr s, agreements, conditions, and covenants o~ w~d prom~ssory nor~ mortgage any or e~rher, and sa~d cosn, chargea and expenses, exh and every, shall be immediately due and paysble; wheiF~er or not rhere ba nonce da mand, atlempt ro tolled or suit pendiog; a~d the full amouM of tach and every such paymeM shall bea. interesl from the date thereof uotil p~id at the ra~e oi n~ne pe~ centum prr an,~um; and all said costs, charges and expenses incur~ed or pa±d, toge~he~ w~th such interest, sha~l be setured by the lien of this mortgags. 6. That (a) in the event of any breach of this Mortgage o~ default on the part of the MORTGAGOR, or !b) ;n fhe eveM sny o4 ta J iums of money herein refe~red to be not promptly and (ully paid within thirty (30) days next afrer rhe same severally become dve and payable, withou` demand or no~ice, or (c) in the event each and every the stiputations, agreements, conditions and covensnts of sa;d promissory note a~d th~s morlgage any or e~ther are nol ~uly, prompdy and fvlly performed, d;acharged, executed, effecfed, compteted, compGed with and ab~ded Sy, then in eNher w any wch event the sa~d ag gre9ate sum mentioned in said promissory note lhen remaining unpaid, with interest accrued, and alI moneys secured hereby, shal) become due and pay eble forthwith, w thereafter, at the option of said MORTGAGEE, as fully and completely as if al! of the said sums of money were w~ginatly st~pu:ated to be pa~d on auch day, anything in sa:d promisswy note or in this Mwtgage ro the conrrary norwirh~tanding; and thereupon or thereaher at the op~~on of said MORTGAGEE, without notice or demand, suit at law or in equity, thereiore or thereaiter begun, may be prosecuted as if aIl moneys secured hereby had mawred pnor to ~ts institution. 7. That i~ the event that at the beginntng of w at any time pend~ng any suit upon this Mortgage, w to foreclose it, or to reform it, a to enforce paymeM of sny daims hereunder, uid MORTGAGEE shall apply to the Court having jurisdiction thereof for the appointment of a Receiver, tuch Court ahall forthwith appoiM a receiver of said mwtgaged property all and singula?, incl~d.ng all and singular the income, prof~ts, issues and reven~es from whatever source derived, each and every of wh~ch, it being expiessly understood, is hereby mortgaged as if spec~fically set forth and described in •!~e grar.ting and habendum clsuses hereof, and such Receiver shall have atl the Moad and eifeceive funct~ons and powers in a~yw~ie e++trusted by a Court to a Receiver, and s~ch appointment shall be made by suth Court as an admitted equity and a matter of absolute right to said MORIGAGEE, and wiilwuf re(erence to the adrquacy a insdequacy of the vatue oi the property mutgaged or fo the solvancy or insolvency of said MORTGAGOR p!ha defendants, and that such rents, profits, irxane, issues and re~enues shall be applied by suth Rrceiver accord~ng to the ~ien or equity of said MORTGAGEE and the practice of such Court. 8. To duly, promptly and Fully perForm, discharge, execute, effect, complete, comply with and abide by each end every the stipu{ations, agreements, conditions and cove~ants in sa~d promisswy note and this mortgage set forth. 9. ihat in the event the ownership of the mortgaged premises, w any part thereof, becomes vested in a person other Ihan the MORiGAGOR, the N.ORTGAGEE, its successo.s and ass;gns, may, wirhout notice to the MORTGAOR, deal wi~h such successw a successor in interest with reference to this n,ortgage and the debt hereby secured in the same manner as with Mo~tgagw without in any way vitiating or d~scharg~ng the Nbrtgagors' liability herc under or upon the debr hereby secured. No sate oi the premises hereby mortgaged and no forbea~aace on the part of the MORTGAGEE or i!s successora or assigns and no extertsion of the t~me fw the payment of the debt hereby secured given by the MORIGAGEE or its successws or ass~gns, ahall operate ro retease, d~scharge, modify change w affett the orig~nal liabitity of tAe MORTGAGOR Furein, eifher in whole a in part. _ ~ 10. It ~s spec~ficatly a9reed that time is of the essence of this contract and that no weiver of any obligation hereurrde? or of the obtigation se cured hereby shatl at any time thereafter be held to be a waiver of the terms hereof w of the instrument tecurHJ herby. 11. In add.tio~ to the forego.~~g monthty payments of princ pat and interest req~ired by the prom:ssory ~ore s~cured hereby, mortgagor covenants and agrees to pay to mo:tgagee v~~th each monthiy payr,~ent an add~rional sum est,mated br mw.tgagee to tx eq~al to i; l2 of the annual tost of the follow- ing: A-All +eal property taaes lev~ed or assessed agaiast the above desc~i5:d real estate. B--Prem~ums on fire and windstorm insurar.ce as herein requ~red to be ca~ried on the improvements situate on the above d_scribed premises. C-Premium: o~ such mortgage gvaranty i~surar,ce as mo~tgagee shall from t~me to tirne deem fit to ca~~y .,r. the toan secured hereby. Mortgagee she!i from time to nme norify morrgagor in writ~ng of fhe amount due and payable hereunder and such sum shall thereupon be due and ; ayab~e an the due oate of the next monthly payment and each suctessive month thereafter ur~til morfgagee shall notify mortgagot of a change in such a~.o~nt. Such wms sha?i be applied by mortgagee toward the payment of real property taxes, insurance prem:ums, and mortgage guaranty inw~ance f: ~emiums. IN WITNESS 'NHEREOF, the said MORTGAGpR has hereunto set his hand and seal the day and year firs fwesaid. Signed, Seated and delivered in the presence of: - j" aq L~ 7 C/ ^i..~_ Joh[t R S 11 r.~Z (SeaO ~ .tS.c:t.~a.~-, ~ ' ~ ~ ~ Seal ) - (Seaq STATE OF SaS ~ ~ SS. COUNTY OF ~ ' ~ Bef perwnally appeared .TOtltl E2 ~ Sheller , Jr . a~ i ~ Dorothy G. M. Shel ler his wife, to me we(I known and known to me to bs ; ~ e~i~+~tidy~~i d~suibed in and who executed the fwegoing instrurrKnt, and acknowledged before me that they executed the same fw the purposes ; ; ~a r?~ said Dorothy G.M. Sheller ~ ~ : ~ John R. ShelleY, ,~Y. upon a aepa~ate and privste f ~ e amin 1~ mq~3kfn separate and apart from her said husband, acknowledged to and befwe me t executed said instrumeM freely and voivn- --:~~ityr~ w~tM~t ahy tomputsion, constraint, appreh nsion, or fear of or from her ssid husbsnd. ' ' .,~Q1y17t ~SS niy hand and official seal this day of A. . 19~ i ~ , : = ~ , fIlEO AM~ RECORDED-- t ~ ~ ST. ~UCIE CDllNTY FLA. Notary P~b~rc or tate of Flori a at r V!~:, i~•' ROCEP FpiTRAS My Commission ex ' s: /~f~ 3, .:,,,~,:~t''~`~ Rewrn To: CLERK i,iiiLlllT COURT ~ First Federal Savings d~ loan Associafio~ RECOR~ VE~tF1E0~~. Oi fort Rcrc:- Fo~. P~erce, F.o~,da 1+~ 3 Zs PH'73 246449'P'G This Instrument Prepared By J. H. RobeZts~ JY. First Federal Savings & loan Association of Fort Pierce ~ Florida Checked By ~ ~ dOqt~~ ~ 2~ j S . - - - - - - - - ~ ~ .y~.:~ ~ - , _ ~ . ~v.