HomeMy WebLinkAbout1087 3. io,placa anc~ continuwsly ksep on the b~i!d:ngs r.aw o~ n~rsahsr s~ruat~ un sa~d lsn~ and on ~it rq~~pn,ent ar+d pawr~atty tovwed by ~1~i~ mortg~
~i, w~th sU prcn.~un•s ~hmton pa:d in fvN, '~ro ins~r,~n;a ln iht ~a.a~ ua~sia~d polioy form, en • sum approved b~ ~1?e MORiGAGEE, and w~ndstam
~nw++r+c+ in ~he usu~t srandarJ pol:cy fwm, in a sum approvsd by ~hc MOriTGAGEE, in such comFany or comFvn~p ss t1?~ A10RiCA~'sfE may
d"ueu~ u~d all fire and w;nds~orm insuranc~ policias o~ any of said buiid.rgs, any in~crest thc~tin or part thareoi, ;n tF+e a,~g~e9ate sum aiw~wid o?
in ~xceu the•eof, shatl contaii+ rhe usual ita~dard marya9se cla~se Or sucA other cl~us~ u rh~ Mpr~sgre may raqw~~, makirg eM loss undrr sa~d ~x?It
c~es. each a~xl every, payao'e ~0 3sid MORTGAGEE a~ ~te in~errst may apyea~, and each and •.ay :~~ch pot~cr ~ha11 be p~omptty asaqnrd a~~d del~verrd ~o
+~y held by s~id MJRTGAGcE ss funi~e~ secunty !o said morlgags debt. ~nd, net his than ltn (10? days ~n advance o~ tbt ~xpiratio~ o( eacA ~wlity, to d~-
IIvK ro sa~d MOQ7GAGfE a ren.wal thc~rof, ia9e~ha wi?b • receipt fo~ the prsmium o( svch renewal; and ~he~s shall bs ~o f~~e a w~ndsior~n insur~nc~
pla~~d on ~ny of said build~ngs, any intcreal the.e~~ or put ~hereof, unless in ~he form and with tM loas payabk u aforesa:d; a~+d in the ~vem any sum
of ~no••~y bccar,es payabte under such policy or poticiea sa;~l MaRTGAGfE ehaN haw th. aption to ~eteiva a~x! apply the u~ne on a<coun~ of ~he indabtrd-
nrss setvred h!tlby or ro pHmit said N10RiGAGORS to rcteive and use it Or any parl thereof :a osher ,:~rposrs, v.;iho~t th:raur ~naiv~~~ c~ unpair
a~y eQvity, lien w right unde~ w by vi?tue of Ihis mo::~age; and in the we.it said lNORTGAGOR$ shatl fo~ any reaso~ (ail 1o keep the said prem;srs so
+nsured, q fai! to dcliver p.wnp~ly sny of said polK~es oF insurancs to sa~d MORTGAGEE, w fail promptly to pay fully any prr~•;um the~eior w in any
rcipect fail lo pe~form, d~sc1?arge. execute, ef(ect, comptete, comply wi~h and ab~cis by th;s covena~b or any part hrreof, sa~d MGRiGAGEE may piace a~~u
pay fw such insuraixe w any parf thereof w~thout waiving or affectinQ any option, ~ie~, eqv;ty, a righ~ under o? by virtut oF eh]s Mortqagr, and thc
full amount o( each and evary such p:yment shall be immcd~ately due and payable ~nd shall bear inte+est from t!+_ Jat~ thereof until pa~d at the rate of
n:ne per cent~m ~ anni~m and to~etlw:~ wi~h such intereat shaU be secured bY the tien o~ fhis mwtpage.
To permit, comsnit w suffer no waste, impairment or deterioration oF said p~of.erry or any pait tht?eof.
S. To pay alt and singutar the costs, charges and expe~us, ~ncluding a~casonabh sttorney's fee and ~osts of sbstrach cf t~~?e, incvrred w paid ~t
a~Y ~~me by said MOR1GAGfE, becavse ar in the even~ of the failwe on the part of the sai~ MORTGAGOR to duty, promptiy a~d fuily perluc d~xhar9e.
exau~e, effect, complets, comply with and ab:de by esch and every the stip~larions, sgreements, conditions, and eovcnan~s a~ uid pomissery note and ~his
~*+a~gsge any o~ eieher, and sa~d cosrs, charges and exper+ses, cach and ev~y, shall be immediately due and payable: whe~Aer a rot the.e be nutice d~
marKl, ~ttcmpt to collect p suit pend~ng; snd the full a~novnt of each and evNy such p~ymeM shall bca? interest from tl+c date thercof v~ti1 paid at the
r~se oF nine per cenrum per en.~um; a~~d af! uid cos?s, ciwrges and cyr,~,xs :ncurred or paid. ~ogether ~vuh such intcree~, iMll be secured by the lien of tha
morfgags.
6. That (a) in the event of any brcach of this Mortgage o? defaulr on tM pari of the MORTGAGpR, o? (b) in the cvent any of sa:d sums ot money
herein referred to be rwl prompNy and fulty paid wirhin thirty {;tp) days ne~~ afte? fhe same uve~alty becane due sncl payabla, witlwut dema~xl or norice.
or (d in tFw eve~t each and every the ar~pu!aiions, agreeme~u, co~dit~a,s and covensnts of sa:d prom~uory note a~d fh~s mor~ga~e any o~ e~~hc~ are not
~u?y, promptly and fully performed, d~uharged, exec~ud, effected, comokted, complied with and a6ided by, then i~ a:ther a any such e•ient the sa~d ~g
9r¢gate sum menlioned ir~ said promisswy note then rema:ning unpaid. with interesf actrued, and atl moneya secvred nereby, sha11 become due ant! psy-
able fortfiw~th, w thereafter, at tl+e oprion of said MORTGAGEE, as fully and comple~ety as if al! of the said wma of money wcre orginafly it~pu:ated
ru be pa~d on such day, anyrhing in w:d prom~ssory note w in this Mortgaqe ro the contrary notwi~nseandir~}; and ~hereupa? a thereafter a~ the optwn of
sa~d MORTGAGL:, without nor:ce w demand, suit at !aw or i~ equity, therefwe a thereaher bxgun, may be pro:scutcd as if all moneys secured hHeby
i+ad rtWtured p~~d to its in3tituteOn.
7. That in the event that at rhe beginn;rtg of or at any time pending any svit vpon tF~is AMrtgage, w ro ioreclose it, or to rcfwm i1, or to enfwte
Payment of a~y claims hereur+de~, wed MORTGAGEE shalt apply to the ~e~r:t having ju.~sdat~on thereof for the appointmeM of a ReceEvK, wch Court shaH
Forthwith appoint a rete:ve~ of said mo:tgaged prqx~ty aA and sing~lar, includ~ng atl and singuta: the irtcrinx,-profits, iuues and revenves faom whatevtr
source dcrived, each a~d every of whKh, it be~rg expressly unders~ood, is hcreby morrgaged as if spec~iically set Ibrfh and described in the grantu?g s~
nabendum ctavses lmreof, and such Receiver sF,all have alt the broad and effective funcnons and powers in anyvwise entrusted by a Cou~t ro a Receiver, ar,d
s:.ch appoinrment shall be made by such Co~rt as an admirted eqv+ty and a mafte? of absolute r~yh~ to said MORTGAGEE, and withcut ro(erence to the -
adequacy o~ inadaquacy of the-value of the property mortgaged or to the so~vency o? insolvencY of sa~d MORTGAGOR o~ the defe~dants, a~d ~hat such
rentt, profits, income, iuues a~d revenues shall be apptied by such Receiver accord~ng to the fien w equity of se:d MORIGAGEE and the practice of such
COUIt.
8_ To du!y, promptly and fulty perform, discharge, execute, effect, mmplete, comply with and abide by rach and every the stiNutations, agreements,
conditions and covenanes in sa~d prom:ssory note and this mxtgage set forth.
9_ That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other fhan the MQRTGAGOR, 1he
ti'.ORTGAGEE, i~s wcceuors and ass~gns, may, wirFw~t no~ice to the MORTGAOR, deal with such succeuor w successor i~ interes~ wi~h refxrence to this
morigage and the debt hereby secur~J ia the same manner as with Mortgago~ rr;thout in a~y way vitiating or dixharg~ng the Ntortgagors' iiability lxrr
under or vpo~ rhe tieb? hereby secured. No sa;e of the premises hereby mortgaged and no fwbeara~e on ~he par~ of the MORTGAGEE or its successus
o~ augns and no extension of the time for the pay:nent of the debt Fwreby srcured given by the MORTGA;~EE or its successora or auigns, ahall ope?ate
ro release, d~xF~arge, modify change w af(ect the original liab~l~ty af the MORTGAGOR herein, either in wl+ole a in parL
t0. it is specifically aqreed that time is of the essence of rh7s contrad and that no wai,rer of any obligarien hereunder w of the ob(igation sr
cured hereby ahall at any bme thereaFter be hcld to be a waiver of the terms hereof w oi fhe instrument setured herby. f
11. In add~tion to the forego:ng monthly payments of pr3nc'pal ar~d interes~ req~ired by the prom~ssory note secured hereby, mortgago~ covenants '
~rd agrees fo pay to mongagee with each monrh~y pay~nent an a~d;rional sum est;m.ated by mcrtgagee to be equal to 1;' 12 of the annual cost of the follow- j
~ng:
A-All real property ta,ces lavied w assessed against thc above dex~ibed real estate.
B-Pr~miums on fire and windstwm insurar.ce as here~n requ:sed to be carried on the improveme~ts situate on the above descr~bed premises.
C-Prem~ums on such mortgage gaaranty ir.wrar.te as mwtgagee shai) from t:me ta time drem fif to rarry on the loan secwed hereby.
Mo~tgsgee sha?I from time to s~me r.otify mortgagor in writing of the amount due and payable he~eundrr and such sum sFw!1 thereupon be due and
c ayable o~ the due date of the next month;y payment and each successive month thereafter vr.til mortgagee shall noGfy rr.ortgagar of a change in such
a~.ount. Such sums :f~ail be app:'iad by rrartgagee toward rhe payment of rea! propeaty taxes, insurante prem:ums, a~x! mortgage guaranty insurance
~~emiums.
IN WITNE55 YJHERfOF, the s~~d MORTGAGOR has herevnto set his hand and seal the day and year fi~sf aforesaid. ~
_~Signed, Seated and detiysred in the p?esence of: ,
- ' a~
_ ' ~1 : ~ ' eorg b'. La~horn
~s~
' . ' (Seaq
- ~ ~
;s~~n
o rrai ne La horn
Si;.TE OF ftORtDA ~ ~
St .Luc ie r
COUNTY OF ~ ~
ses«~ ~~~ny aP,~a.ed _ Gearge k. Lawhorn ;
I.orraine Lawhorn his wife, ro me wel! known and knowrt to mc to be
rhe ind;viJuats desu~bed in and who executed rhe for ang instrument, and ack~oM,ledged before me that they executed the same for the pwposes
rherei~ expressed. And the said Lorraine~.awhorn
.~;fe of the said George W. Lawhorn ~p~ a x~rate od pr'nate
exam~nstion by me taEen separate an3 apart f~om her said husband, acicnowledga/ to and before me tlwt she execvted said instrument freel~ vp1~~-
rar~ly and w~thout any compufsion, constreim, appreh ~nh ~ fes. of or from htr sai husband. l
WITNE55 my hand and off:cial xal th~:_ ~~~7 - day of t ebrua ry ~ _:a D. ?3
` ' . . T ~R Y -
\~l__L_. ' l J ~L \ y ; , I1 ~l ~ i .
~ Notary Public in ~nd fol. the Sjate pf Fiw~
d
a Lxyl. •
My Commiuion exp~res: % ~ 7 . •
Return ?o: - -
4~. i
firsf Fede~al Savings ~ Loan Associetion " , 6 ~ : v= _ ~
Of Fort P erce. . ~ : ; +
Fort Pierce, fbrida - ~ri~•~ ~ '
. % t•
~ ~ ~ ~ ' ~ - .
FILED Ati~! RECOftDED ~ "'~n,..,...•
ST. W~tE GOttktY f~A.
This Instrument P~epared 8y Ga ry F. E12wood ~+OCER ?OITt}AS -
First Federa! Savings & loan Association _ CLERK C~~;CU~T COURT t"
of Fort Pierce PECOF.,, VERIFtEO
, Florida
Checked By _1-Q-------_ f~e 2l ~0 1~ 1~7 ~73
248499 suax 2~.~ Pacc 10$~
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