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HomeMy WebLinkAbout2481 3. To place and continuouily keep on the build~ngs now w hereafte~ utuate o~ said I~nd and on all equ~pment and pe.io+utly covered by ~h~: morrg- sg~, with ~It premium~ thereon pa~d in full, fi~e insursnce in the usu~i standsrd po~icy form, in a sum approved by the MORfGAGEE, and winds~orm in~ura~ce in the utua~ srandard policy fam, in ~ tum app~oved by tM MORTGAGEE, in tuch tompany o~ compa~~e~ at ~he MORiGAGEE may d~rect; ~nd all tir~ ~nd winds?orm insurance policies on any of iaid build~npi, ~ny Mtereat therein or part thereof, in the ~gg~egeie sum afwesa~d or In excess theroof, sAall contain the usual sundard matgagee clause w such other dause at tM Mo~tgagee may require, making the loss undrr sa~d pot~ ues, each and avery, payable ~o said MORTGAGEf ~s its interost may ~ppear, ~nd each and eve~y such policy shall be promptlY ass gned and deliva~ed ~o •ny held by said MORTGAGEE as (ur~her security to said matgaye debt, and, not leu than ten (10) days in advance of the expirotion of each policy, ~o de- I~va to said MORiGAGEE s rcnawal thereof, toye~hK with a receipt for the premivm of such renevrcal; and there shall be no f~re or winds~o~~n insu~ance plxed on any of uid buildings, sny interest there~~ u part thereof, s~less in the (orm and with tM lou payable as aforesaid; and in the event any sum of money becomes payable under such policy o? po~icies said MORTGAGEE shall have tM opt~on to receive and apply ihe same on accounl of the indab~ed ness secured he~eby a to permif sa~d MORTGAGCRS ro receive and us~ it w any par~ thereof for other pu~poses, v.i~hout ~h~~.o~ .~a~~:~~7 0~ ~~~~p..~~- ing any equ~ty, lien a righ~ under or by virtue of this morsgage; and in the evcnt said MORTGAGORS sha~l tor any reason iail ~o keep the sa~d prem~s~•s so ...:vr«,d, o~ fail fo deliver p~omptly any of sa~d polKies of insurance to said MORTGAGEE, or fail promptly to pay fully any pre~»~u~n therefor a in a~y reipect fail to perfwm, d~scharge, execute, effect, complete, comply with and abide by Ihis tovenant, a any part hrreof, sa~d MORTGAGEE may p~ace a-~d pey fa such insurance or any part thereof without waiving o~ affectiny ~ny option, litn, equity, or r~gh1 under u by virtue of this Mongage, and the f~ll amount of each and eve~y such payment sha~l be immediately dw a~d payable ~nd ahall bear interes~ from the date ~hereof until pa~d at the ra~e of nins per tentum per annum and to~ether with suth interest shaN be secured by ihe lien of this mott9age. 1. To permit, tommit w suffer no wa~te, impairment o~ deterioration of sa~d prope~ty a any paA the?eof. 5. To pay all and sirgulu ths toats, charpes ~nd axpenses, ~~cludmg a reasonable attorney ~ fee and costs of abstracts of tiNe, incurred o~ pa~d at any tfine by uid MORTGAGEE, because or in the event of the failure on the part of the said MORTGAGOR to duty, p~omptly and fvlly perform, d~scharge, execute, effM, complete, comply with and ab;de by each snd every the stipulat~au, agreements, condilions. and covenanrs of sa~d prom~ssory note and ehis mortgage any o~ eilher, and said costs, chsrges and expenses, each and every, shall be immediately due and payable; whether p not there be noricc d~ mand, attempl to collect w suit pending; and the full amount of each and every s~ch payment shall bear interest from the date thereot umil pa~d at tne ~a~e of nine per centum per annum; and all wid costs, charges and expenses incurred w pa~d, togethe~ w~th such interest, shall be secured by the ~ien of th~~ mortyage. 6. That (a) in the event of any {xeach of this Mortgage or defautt on the pa?t of the MORTGAGOR, or (b) in the eve~t any of sa~d sums of monry herein referred to be not promptly and tully paid within thirty (30) days next ~fte~ the sarr+e severatly beconx due and payable, without dcmand or notice. or (c) in the event each and every the stipulations, sgreements, conditions and covenants of said promisso~y note and th~s mortgage any a either are not ~uly, promptly and fully performed, d~xharged, executed, effected, completed, compl~ed with and abided by, then in either or any such event the sa~d ag gregate sum mentioned in said promiswry note then remaining unpaid, with interest accrued, ar~d atl moneys sec~red hereby, shatl becwne due and pay- able fonhwith, or thereafter, at the op?~on of said MORTGAGEE, as fully and completely as if all of the sald sums of money were w~ginally st~putated ro be pa~d on such day, anything in utd promissory note w in this Mortgage to the contrary notwithatand~ng; and thereupon w thereafter at the optlon of sa~d MORI6AGEE, w~thout oofice a demand, suit at law w in equity, therefore or tFKreaher begun, may be prosecuted as if all moneys secured hereby nad matured pnor lo its institution. 7. That in the event that at the begi~ning of or at any time pending sny suit upon this Mortgage, or to fweclose it, or to reform it, o? to enforce payment ot any claims he?eunder, said MORTGAGEE shall apply to the Cou~t having jurisdiction the~eof fw the appo~ntment of a Receiver, such Courf shall forthwith appo~nt a receiver of said mortgaged property all and singula~, includ~ng all and singular ~he income, p~oF~ts, issues and revenues from whatever seurce derived, each artd every of which, if being expressly understood, is hereby morrgaged as if spec~fically set forth and deuribed in the g~anting and habendum clauses hereof, and s~ch Raeiver shall have sll the broad and effecrive funct~ons and powers in anywise entrustad by a Court to a Receiver, and s~ch sppointment shall be made by such Court as an admitted equity and a matter of absolute right to said MORTGAGEE, and without reference to the adequacy w inadequacy of the value of the p~operty mwtgaged or to the solvency or insolvency of said MORTGAGOR or the defendants, and that such renrs, profits, income, iuues and revenues shall be applied by such Receiver according to the tien u equity oi said MORTGAGEE and the praUice of such CouA. 8. To duly, promptly and fully perform, discha~ge, execute, effect, comptete, comply with and abide by each and every the stiFulations, agreements, conditions and covenants in said promisswy note and this morrgage set forth. 9. That in the event the ownership of the mortgaged premixs, or any part tnereof, becomes vested in a person other than tM MORTGAGOR, the h!ORTGAGEE, its successors and assigns, may, wifhout notice to the MORTGAOR, deal with such successor w successor in interest with reference to this rrortgage and the debt hereby secured in the same manner as with Mongagor wiihout in any way vitiating w d~scharging the Mortgagors' liability here~ under a upon the debt hereby secured. No sate of the premises hereby mortgaged and no forbearance on the pan of the MORTGAGEE or its successors or assigns and no extens~on of the time fw the payment of the debt hereby xcured given by the MORTGAGEE or its successors or au~gns, .~~all operate to release, d~acharge. modify change or affect tlro original liability of the MORiGAGOR herein, either in whole w in part. 10. It is spec~ficalty agreed that time is of the esx~ce of this contract and that no waive~ of any obl;gat~on hereunder or of the obligat'an se- cured hereby shail at any time thereafter be held to be a waiver of the terms hereof w of the instrument secu~ed herby. ll_ In add~tion to the forego:ng monthly payments of princ-pal and interest required by the promissory no~e secured hereby, mortgagor covenants and ag~ees to pay to mortgagee with each monthly payrnent an addiiional sum estimated by mortgagee to be eqval to 1,%12 oi the annua~ cost of tF~e follow- iny: A-All real property faxes levied or asussed against the above described real estate. B-Prem~ur-is on fire and windstorm insurar.ce as herein requ~red to be carried on the improveme~ts sit~ate on the above described premises. ! C-Premiums on such mortgage guaranty insurar~ce as mortgaqee shalt from time to time deem fit to tarry on the loan secured hereby. ~ Mortgagee shail from time to time notify mortgagor in writing of the amoum due and payab~e hereunder and auch sum shalf thereupon be due and ! : 3yable on fhe due date of the next momh:y paymem and each successive momh thereafter until mortgagee shall notify mortgagor of a change in such ! ~~ount_ Such sums sF.all be app~iec! by mortgagee toward the payment of real property taxes, insurance prem;ums, and mo~tgage guaranty insurance ~ u~emiums. t IN WITNESS WHERFOF, the said MORTGAGOR has hereunto set his hand and seal the day and ar fu aforesaid. ~ Signed, Sealed arxl delivered in the prexnce of: '!/a-.i ~ Scao ~ ~ d O ~ (Seaq ~ L LL , -(Seaq ~ (Seal) ~ - ~ SiATE OF fWRID11 ~1Ci11(~all ~ S5. ~OUlJTY OF ~ Before me personally appeared Richard J• .lOZ1I1S and J~tlett Nj. .j0~111S his wife, to me well known and k~own to me fo be ~ the individuals desuibed in and who executed the fwegoing instrument, and acknowkdged befue me that they executed the same for the purposes ~ therein expressed. And the said J~1ett M. Johns Richard J. Johns upon a separate and ~vate ~ ,Nife of the said ~ exam~nat~on by me taken separate and apart from her said husband, acknowtedged to and be!we me that she executed said instr~ment treely and voluo- ~ rar~ly a~d w~thout eny compulsan, constraint, apprehension, fear of o? from her seid husband. ~ ~ WITNE55 my hand and officiai seal this `~6 t~ day of Janu~ A. D. 19~ is ~ Notary Publit ~n a~d fw the State of Fbrida st large My Commission expires:...SI..! Z/7_f ~ Retum To: ~ ' ~ ~ - ~ First Feder~l Savings 3 Loan Associat~on ~ Qf Fort P,erce. • , . ~ Fort Pierce, Florida :,i.~~ ~ F p R ~ RE Ahp ECORDEO ' "t- , ;;i~i'.',~ St- lUC1E . : R COUNtY fl~. ` ` ' ' , . This Instrument Prepared By .T. H. Roberts ~ Jr• REC~ f RKC~ k~U1i ~p~ ~r+ - ~ First Federal Savings & Loan Association R~ yEF~=~Ep R~ _ =~r : ` " , : ~a of Fort Pierce , Flor ida 8 8 - l+~ '-l~,, s' ~ FE 9'+uAN'T3 =i=~ `~`~;1 Checked By ' : 24~456 . 4s~ ~oQx~10 ~~z47g ~ ls ~ - - - - - - ~ S r.,s '~.p"7 _t~.es , . ~ _ ~..,33.__ .^.?>e.d~?