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HomeMy WebLinkAbout0037 3. To ptac~ and continuously keep on eh~ bu;ldinys now w hereaf~er ~iwa?e on sa~d land and on all equipment ~~d pawnalty covered by ~his mw~~ p~, with a11 premiums ~hereon pa~d in full, fire insur~nce ~n ~he u~ual itande~d polKy fwm, in a sum appro~sd by ~he MOR(GAGEE, snd w~~~ds~am 7ruv~~nn in tM uiual ~~andard pol~cy fam, in a ium ~pprovad by th~ MORTGAGEE, in such compa++y a comp~nisa ai 1hs MORiGAGEE may d~nctj and all (ir~ and w~ndsro~m i~uurance polkies on a~y of a~d build~n~~, ~ny i~qra~~ thHei~ or paN thereof, in tM ~99re9a~~ ium aforesaid a In t~teu thereoi, sMll conlain ~hs usual ~tandard mortga~e clavs~ or tuch oths~ claus~ ai IM Mo+t9aqe~ may requ;r~, m~kiny th~ ~oss undrr to~d pol~ cie~, each and ~ve.y, payabk to ~aid MORIGAGEE as i~s intere~t may appea~, and each and eve~y such policy sh~ll bs promp~ly ~u gned and dei~vered ?o ~ny held by said MORTGAGEE ai funhe~ tecurity to said mort~age deb1, and, not leu th~n ten (101 deys i~ advance o~ the expiratio~ of each pol~cy, to da livK to said MdRTGAGEE a renewal thereof, lopether wirh a rece7pt for the premium of ~uch renewal; and ther• shall be no fire o~ windstorm insuronce pl~ctd on ~ny ol uid buildings, ~ny intereit therein w par~ thereof, v~less in ths form end wi~h the loss payabte as afaeta~d; and in the event any sum of mon~y be~omes payable u+~der wch policy a policies said MORTGAGEE shall have the opt~on to receive and apply the same on accounf of the indrbred- neu secured hereby or lo permit said MORTGAGORS to rKeive and use if w any parl thereof ior o~~cr purposes, wi~hout th~reb~ waivin3 or onpair. ing any equ~fy, lien w right under or by virtue of this mortgags; ~nd in the even~ sa~d MORTGAGORS shall fw a~y reaso~ fail to keep the sa~d p~emises w insu~ed, w fail b deliver promptly a~y of said policies of insurartce Io said MORIGAGEE, or fail promptly to pay fully any pre~nium therefor or in a~y ?espect tail lo patorm, d~scharge, execute, efiect, complete, comply with and abide by th~s covenant, or any par~ hereof, said MORTGAGEE may place and pay for tuch insu~ance w any part thereof withoul waiving w affecting any option, lien, equity, or righr vnder w by virtue of this Mwtgage, and tF~e full amount oi each a~d every such payment shall be immediately due and payable arxJ thall bear intere~t from the date Ihereof until paid a~ the rate ol nine per centum per annum and to~ether wilh such i~teresl shatl be secured by the lien of lhis mortgage. , 1. To permit, tommit w su((er no waste, impairment o~ detcrioration of said property w any paA lhereof. 5. To pay all snd sir+gulu the costs, charges and expenxs, inctuding s reasw~able ertwney's fee and tosts of abstratts of title, incurred or paid at any time by taid MORTGAGfE, becauu or in the event of Ihe failure on the part of the said MORTGAGOR Io duly, promptly and fully periorm, d~xharge. execute, effed, complete, comply with and ab:de by each and every the s~ipulatiwu, agreements, conditions, and covenams of said promissory note and thi~ mwtgage a~y or either, and ~a~d cosb, cba~ges and expenses, each and every, shall be immediately due and payable; whether w ~ot there be not~ce de mand, attempt to collect w suit pend~ng; and the full amount of each and every such payment shall bear interest from the date thereof until paid at the rate o1 nine per centum per an~~um; and ali said costs, cherges and expenses incurred or paid, together with such interest, stwll be secured by the lien of th~s matgage. 6. That (a) in the event of any breach of this Mortgage w default on the part of the MORTGAGOR, or (b) in the eveM a~y of sa~d svms of money herein re!erred to be not promptly and fully paid within thirty (301 days next aiter rhe same severatly become due and payable, withoui demand or notice, or in the event each and eve?y the stipulatio~s, egreements, conditions and covenants of sa~d promiuory note and th~s mortgage any or either are nol iuly, promptly and fully performed, diuharged, executed, elfected, compteted, complied with and abided by, then in either w any such event ~he said ag gregate wm me~raned in said promissory note then ?e+»aining unpaid, with interest accrued, and all moneys secur~d hereby, shall become due and pay abte fathwith, or thcreafte~, at the opt;on of said MORTGAGEE, as fully and completely as if ail of the sa~d sums of money were or~ginally st~p~;ated to be paid on such day, anything in sa;d prom~sswy note w in this Mwtgage ro the contrary notwithstand~nq; and fheieupon or fherenfte? at the option of said MORTGAGEE, without notice or demand, suit at law or in equity, therefore w thereafter begun, may be prosecuted as if all moneys secured hereby had matured pnot to its institution. 7. That in the event that at the begi~n;ng of or at any tirt+e pending any suit upon this Mortgage, or ro foreclose it, w to ~eform it, a to enforce payment of any claims he.eunder, said MORTGAGEE shall apply to the Coun having jur~sdiction thereof for the appo~ntment of a Receiver, such Courf shall forthwith appoint a receiver of said mortgaged property all and singular, includ~ng all and s~ngular the income, p~ofits, issues and revenuea f~om whate~er source derived, each and every of wh~ch, it being exp?euly understood, is hereby mortgaged as if specifically set forth and dexribed in the granting and habendum clauxs hereof, and such Receiver shall have all the Moad and eftective funct~ons and powers in anywise entrusted by a Court to a Receiver, and such appointment shalf be made by such Court as an admitted equity s~d a matter of absolute right fo said MORTGAGfE, and without reference to the adequacy a inadequacy of the val~e of the property mortgaped o~ to the soivency or ~nsolvency of said MORTGAGOR or the defendants, and ~hat such rents, profits, income, ~ssues and revenues sFwll be applied by such Receiver accord~ng to the lien or equity of said MORTGAGEE and the practice o( such Gourt. - 8. To duly, promptly and fully perform, dischafge, e~cecute, effect, complete, c~rnply with and abide by each aod every the atipulations, agreements, conditions and covenants in said promissory note and this mortgage set fwth. 9_ That in the event the pvvnership of the mprtgaged premises, or any parf thereof, becomes vested in a person other tha~ the MORTGAGOR, the h10RTGAGfE, efs successors and assigns, may, without notice to the MORTGnpR, deal with such sutcessw or successw in interest with reference to this mortgage and the debl hereby secured in the same manner as with Mortgagor without in any way vitiating or distharging the Mortgagors' liabit~ty here- under or upon fhe debt hereby secured. No sate o( the premises hereby mortgaged artd no forbearance on the part of the MORTGAGEE or its successors or assig~s and no extension of the time fw the payment of the debt hereby secured given by the MORTGAGEE o. its successors w assigns, aliall operate to re!ease, dixharge, modify ~hange o~ affect 1he orig~nal liabil~ty of the MORTGAGOR herein, either in whole w in part, 10. It is specifically agreed that time is of the essence of ihis contratf and that no waivtr of any obligation hereunder or of the obligaYan se- cured hereby shatl at any time thereafter be held to be a waiver of the terms hereof w of the instrument secured herby_ 11. In add~tion to the fwego:~g monthty payments of princ pal and interest requ~red by the prom~sso~y no!e secured hereby, mortgagor tovenants and agrees to pay to mortgagee vvith each monthly payrnent an add~~ional sum estin,ated by mortgagee to be equal to i;' i2 of the annual cost of the follow- ing: A-All real property taxes lev~ed or assessed against the above desc.~bed real estate. B-Premiums on fire and windsrorm insurance as herein requ:red to be carried on the ~mproveme~ts situate on the above dsscribed p~emises_ C-Premiums on such mortgage g~aranty insurar~~e as morrgagee shail fror+: t:me to ti~ne deem fit to carry o~ the loan secured hereby. Mortgagee shail !rom rime fo time notify mortgagor in writing of the amount due and payable hereundrr and such sum shall thereupon be due and Fayable on the due date of the next month:y payment and each successive month thereafter ur,til mortgagee shall notify mortgagor of a change in such a~,ount. $uch s~ms sha:l be app~ied by mortgagee toward the payment of real property taxes, insurance pren:ums, aiid morfgage guaranty insurance p~emiums- IN W1INESS WHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and year first af esaid. Sigr~l, Sealed and delivered in the presence of: ~ ~ ~ ~ ~ ' G B Wa 1 er ~ ~.:.1, .~.~-!s~i~ • . t S Ses4 !Seat) _ 11 ~ A~ iece Walters ~~ai~ STATE OF ftORIDA ~ $t • Cle COUNTY OF ~ Before me perwnally appeared C'• B• Walters a~ Allieee Walters his wife, to me well 4nown and known fo me to be the individuals desaibed in and wlw executed tF~e foregoing instrument, and scknowtedged before me that they executed the same for the purposes therein expressed. Md the said Allieee Walters .v~fe of the said G• B• Walters ~pon a separate and private examinatio~ by me taken separate and apart from her said husband, acknowledged to and before that she exetuted said irtstrument freely and voiun- ras;ly and w;thout any compulsion, constraint, app/reF~e_s~on, o? fear of w from her said husband. WITNESS my hand and oificial seal this__L` ~ dsy ~ ~nnf~ ~ q, D. 19 73 ~ ~ ~ otary Public in end for the tate O ida a1 ~e My Commiuion expires: ~TARY ~ • ^ Return 70: ~ A,7S~~ IC. SIAjE Of; fLQR(~?A ~~tARG~ First federal Savings d. Loan Associatron ~"t NY C0~~1S~Sf01V~pIKES pi~C, 2g 1975 Of Fort P~erce. FILED A!IL~ Fi~ e°~ed ~rU~j~ < Fort Pie.ce, Fbrida CdR~E~ , ^Q~`'~~t~thM. ST. l,Ur,~C CO~.NTY fU. = 1. 'l • - ~ RGG~^ Fa:TRA$ . ~ - CLER~( ;,t"CJ:* COURT . ccC4DD V~ ~E~ L~ . This Instrument Prepared By John W. Co7.1~'C 4 07 PM ~73 First Federal Savings 8~ Loan Association o of Fort Pierce~ Florida ~ Checked By ~ 35 aovK z12 ~ 37 - - _ ~ i _d _ ~ ~ ~ ~ - - z ~ ~~t'o- 5 , - . 0 6 : ~'Y ' s~s,~~c.