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HomeMy WebLinkAbout1013 " . , + l . v 3. To place and continuously keep o~ the b~i!d~nga now or hereafter ~ifuate o~ ia+d land and on all equ7pment and personally cove~ed by this matq- +ge with sll p~em~umi thereo~ pa~d in full. f;re i~s~rance in the usual aTa,idard policy fam, in • sum approved by the M~RTGAGEE, and w~ndsto~m ~nsur~nce in the usual stande~d pol~cy fwm, in a su:n ~pp~oved by fM MORTGAGEE, in tuch company o~ compan~es as the MORIGAGfE rt~sy direct; a~ af! fire and w;ndsto~m insurance po~icies o~ any of ~sid build~nyi, ~ny interest therein or pu1 thertof, i~ the a49rega~e sum afor~said w in extess the~eoi, ~Fwll contain the usual sta~+dard mWtflayet clause o~ such other tlauss at tl+e Matyagee may require, ma?ing the toss undrr sa~d polN cie~, each and every, payable ?o said AtORTGAGEf as its interrs~ may appear, and exh and every such poticy shall be promptiy ass gned and deliYered to any held by said MORTGAGEE as funher iecurity to uid mort9age debt, and, not leu Ihan fen (10) days in advance of the eapirat~on of cath pot~cy, 1o da GvN to said MORTGAGEE a r~newal thereof, toge~her with a rece~pt for tht premium of such ronewal; and there shail be no f~re o~ w~nds~orm insurance plsted on any o( said buildings, ~ny imerest therein w part therwf, unleu in th~ form and with tha loss payable as afweiaid; and in the event any tum of money lxcomcs payable under such poliq w policies said MORTGAGEE shall have the option lo rece~ve and apply the sanx on account ot the indebted neu secured hereby w to permit said MORYGAGpRS to ~eceeve and use it or •ny parl thereof for a~ne~ purpcses, .vnhout ~h~•.ur .ra~v~,,3 or ~n~pair• ing any equity, lien a right under w by virtue of this morrgage; ~nd in the ~vent sa~d MORTGAGORS shall tor any ~cason iail to keep the said premisrs so insured, pr fail fo deliver promptly any of soid polities of insurance to sasd MORiGAGfE, o~ fail promptly to pay fully any p~emium Iherelor or in any respect (ail ~o perfam, discharge, execu~e, effect, tomplete, comply with and abide by this cove~ant, a any part hereof, sa~d MGRTGAGEE may ptace a~~d pay for such insurance or any psrt thereof withoul waivi~ or affectin9 any option, lien, equity, w right unde~ or by virtue of this M«tgage, and rhe fuil amovnr oF each and evNy such pa~ment shall be ;mmcdiatefy dve and payable ~nd shall bcar imereat irom the date thereof untit pa~d at the ra~e oi nine per centum per a~num and together wilh such inte~est shali bs secured by tht lien of this mwtgage. 1. To permit, commit w sufte~ no waste, impairment p deteriwation of said propcrty o? any part thereof, S. To pay al! and iinqular the coats, charget and expenaes, incfuding a reaso~able sttwney i fee and cos~a oi abstracts of t~rte, incurred or pa~d ar any time by said MOR)GAGfE, Decause a i~ the evcnt of the failure on the psrt of the said MORTGAGOR to duly, promptly an~d fully periorm, d~scharge. execute, etiect, complete, comply with and ab:de by each and every the stipulat~orts, agreements, ca+ditions, and covenants of sa~d prom~ssory note and thii mortgage any a eoher, and said costs, charges and expenses, each and avery, ~ha!! be immed;ately dve and payable; whether a not ~hrre be not~ce dr mand, attempt ro colled o~ suit peod~ng; and the full amount of each and every s~ch p~ymeM ~hall bea? interest from the da~e ~hereof until pa~d at the ra~e of nine per centum per annum; and all uid costs, charges and expenses i~curred w paid, together w~th suth interest, shalt be secured by the lien ot this mortysge. 6. That (a) in the event of any breach of thia Mwtgsge or default on the part of thr MORTGAGOR, w(b) in the eve~t any of said sums of money herein referred to be not pranptly and fufly paid within thirty (30) days next after the same seve~ally become due and payabte, w~thour demand or norice, or (cj in fhe erenr each and every the stipulat~ons, egreements, condifions and covenants of sa~d p.om~sso~y note and th~s mor~gage any w e~~her are not ~uly, promptly and futly ~xrformed, d~uharged, executed, effected, compteted, compl:ed with and ab~ded by, then in eifher w any such event the said ag gregate sum menYwned in sa;d promisswy note ti~en remaining unpaid, with interest acuued, and al! moaeys seturetl Fxreby, shall become due and pay- eble (orthwith, w thereafter, at the option of said MORTGAGEE, as fully and comple~ely as if sll of the said s~ms of money were or~g~nally snpulated ro be pa:d a~ such day, anylhing in sa;d prom~sswy note w in ~hia Mutgage to the cont~ary notwithstanding; and thereupon or thereaFrer at rt~e opr~on of said MORTGAGEF, w;thovf norKe w demand, suit at law or in equity, therefwe or Iherealter begun, may be prosecuted as if atl moneys secured hereby ~ad mawred pno? to its institution_ - 7. Tha1 in the event that at the beginning of o? st any time pending a~y su~t ~pon this Mortgage, or to fweclose it, or to ~eform it, o? to enforce payment of any claims hereunder, said MORTGAGFE shall apply to the Covrt havi~g jur~sd~cfion ~hcreof fw the appointment of a Receiver, such Court shail ~orrhwith appoint a receiver of said mortgaged propeny all and si~gvla~, includ~ng atl and s~ngutar the ir.come, prof~ts, issues and revenues lrom whatever seurce derived, each and every of whrch, it being expressly unders~ood, is hereby mortgaged a~ if :pec~f;cally set fw~h and deu,~bed in the gran~ing and habendum clauses hereof, snd such Receiver shall Mve all the bro~d snd effedive funct~ons and powe~s in anyw~se entrusted by a Cou.t to a Receiver, and :~.,ch appointment shall be made by such Court as an admitt~ equity and a matta of absolute right to said MORTGAGEE, and wi:houl re(erence to fi~e adeqvaq or inadequacy of the value of the property mutgaged or to the sowency or insolvency of said MORTGAGOR or the defendants, and that such rents, Rrofib, incortro, iuues a~ revenues shall be applied by such Receiver atcording to the lien w equity of uid MORTGAGEE and the practice of such Court. 8_ To duty, promptly and fulty perform, discharge, execute, effecL complete, comply with and abide by each and every the stipulatio~s, agreementa, conditions and covenants in sa~d promissory note and this r»wtgsge set fonh. 9. That in the event the ownership of the mortgaged premiies, or any part thcreof, becomes vested in a per:on other than the MORTGAGpR, the M.ORTGAGfE, its svcceuo~s and assigns, may, withour norice to the MORTGAOR, dea! wirh such succeuor or successw in interest with reference to this mortgage and the debt hereby secured in the same manner as with Mbrtgagor without in any way vitiating w dixharging the Mortgagors' liability here~ unde~ or upon the debt hereby secured. No sa(e of the premises hereby mortgaged and no forbearance on the part af the MORTGAGEE w its successors or assigns and no extension of the time for the payment of the debt hereby secured giver~ by the MORTGAGEE or its successors or au~gn3, ahal~ operate ro retease, d~scharge, modify change or affect the org~nal liability of the MORTGAGp(c herein, either in whole or in par1. 10. It is specifically agreed that time is of the essence of this contrad and that no waiver of any ob~igatio~ hereunder a of the obtigation se- cured herehy yhall at any time thereafter be he~d to be a waiver of the terms hereof or of thr instrument secured herby. 11. In add.tion to the fwego:ng monthly payments of princ pa~ and interest required by the promisso?y note secured hereby, mortgagor cove~ants and agrees to pay to morrgagee vvith each monrhly payrnent an add~rional sum estimated by mortgagee to be equal to 1; 12 of the annua~ cost of the fo(low- in9: A-All real pioperty faxrs lev:ed or auessed agai~st the above described real estate. B-Premiurns on fire and windstorm insurance as herein requ~red to be carried o~ the improveme~ts sitvate on the above dascribed premises. C-Premiums on such mo:t~age gwranty insurante as mortgagee shaH from rime to time deem fit to carry on the toao sec~red hereb~. Mortgagee shail from time to time ~otify mortgagor in writing uf the amount due and payable hereunder artd such sum sha(1 t'nrreupon be due and ;:ayab~e on the due oate of ?he next month:y payment and each successive month thereafter urtil mwtgagee shaU not~fy mortgagor of a change in such a~~ount. $vch sums shall be appiied by mwtgagee toward the payment of real property taxes, insurance prent;ums, and morigage guaranty insurance premiums. IN WITNESS 'NHEREOF, the said MORTGAGOR has hereunto ut his hand and seal the day and fir t afwesaid. 7 Signed, Sealed and de ' ered i prese e of: ~ an Cli on Lloyd, ~~a~ - fSenl) Marie L~-c ts~si) STATE OF F:ORIDA ~ ~ ~ COUNTY OF _ SL . LLiCl~ ~ 1 ' Before me personally appeared Clifton Lloyd Jr. a~ Ma rie Lloyd his wife, to me well known and known to me to be the individuats desuibed in and who executed the fotegoiny instrument, ~nd acknowledged before me that they executed the same tor the purposes i therein expressed. And the said Mar ie Llovd i w:1e of the said _ C I lf tpt'1 L-lOVd ~,)T vpon a xparate and private e:am~nation by me taken separate and apart from her said huiband, KI[(WwIl~l~ t0 and before me that she executed said instrument freely ~nd voiurr ranly and w+thout any carripv[sion, conNraint, appr ' dor fear oF or fr her id husband, - WtiNE55 my hand and officFal seal rhi ~ dsy of Jantidr = A. D. 19~_ ~ . _ • F~LED 4HC ftECORDEa Notary Publit in nd f r the State:of florid; at Larye ST. LUCIE COUNTI~ F~A, My Comm~ss~on exp' s: Retum ro: ROCEF ~~IiRAS 3'~'=~~ ' ^ First Federal Savings 3 toan Association CIERK C!:'CUIT COURT d ~ Of fort P~erce. RECOR:' VE~tFi~p . . Fori Pierce, Fbrida w~. , L 3 2~ PH'7 24~454 This Instrument Prepared By Gary F• Ellwood First Federal Savings ~ Loan Association o~ Fort Pierce Fl o r i da n~ . Checked By ~~0 ~~Q 1i ~~~ak - _ - ~ - - _ , ~ . .v . ~ _ _ _ . _ _ . ~ .