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HomeMy WebLinkAbout0039 1. To plac~ and conrinuously keep on tM bui:d~ngs now a hereaft~~ ~;tua~~ on ~aid land ~nd on ali cquipnent and penonally tov~~td by tAi~ ma~¢ p~, w~th dl prQmiums ~he.co~ p+~d in 1~I1, fire ins~ranc~ in tM u~ual ?~~nd~rd policy (wm, in • tum app~ovtd by tht MOR(GAGEf, ~nd windstwm in~u~~nc~ In ~M uiual s+andud pot.cy lam, in • sum app~oved by tM MORTGAGEE, in iuch company w companies as th~ MORiGAGEE m+y du~uj ~nd all fira +nd w~nd~tam ins~r~nc~ pol~ue~ on any of saiil bu~Id~~qi. ~ny inq~~st therein w part ~herwf, in Ihs a99re9ate ~um afweNid w In ~XCNf Ihe~eof, sMll contsin fM usual ~tandud mor~papN d+uu w ivch o~hu clavs~ ~i th~ Mat~age~ msy raq~~n, maAinp tM loss unda ~a~d po~b cief, each ~nd every, payable to s~~d MORTGAGEE ~s ~b inrere~t may appear, e~x! eacA and eve~y t~cl? po~~cY shall be promptly ~ss yned a~d delive~rd ~o •ny held by said MORiGAGEE as Fu.~her iecuri~y to sstd matpaye dcbt, and, not less than ~en lt0) days in advanc~ o~ ~M expi~atan of each polKy, to dr IivN to wid MORTGAGEE a renew~l thereol, to9~tha wiih a race+pt fw tl?e p~tmium of ivch renewal; a~d ~here ihall be ra f~ra or w~nda+o~m ins~r~~c~ pl~c~d a+ ~ny o( said build~nyi, any in~e~est therei~ a p+rt thereof. un~eu in ~h~ fo~m and wi~h th~ lou payable as afaesaid; and in ~he e~ent any ium of money becomes payable unde~ such policy a polrc~es said MORTGAGEE ~fiall Mve ~M opt~on to ~eceive and appty tM same a+ accwnt ol ~he indebied~ neu ucured hereby or to permit said MORTGAGORS to receive +nd use i~ w any parf thereof for oihcr pu~poses, .v~+ho~t ~ha~~u~ wai~ing or ~~~~pa~.- iny ~ny eqv~ty, I~en w rgh~ unde. o~ by vinue of this morlg~ge; +~d in the event said MORTGAGORS ahall (w any reaso~ fail to keep the said p?emises so insured, w fail to deliver. p?omplly any of said polities o) i~surante to said MORiGAGEE, w fail promptly to pay futly any prem~um lherefor a in a~y respect fail to psrform, discharge, execute, e(fed, tomplete, tomply with and abide by this tovenanl, a any part hareof, said MORTGAGEE may plate a~+d pay fd auch in~urance w any part lhereof without waivir+g oa affectiny any oplion, lien, equ~ty, ot righl under w by virtue of this Matgage, and tht 1u11 amovnt of each snd every such payment sha~l be immcdiately dw and payable and shall bear interest from the date thereof until paid at the raie oi nine per centum per annum and together with suth interest shall be setvred by the lie~ of this mort9age. t. To permit, tommit o~ svffer no waste, impairment or deteraration of said property or any paA thereof. 5. To psy all and singular the costs, charges snd expenses, including a reasonsble attwney i fee and costs of abstract~ of title, incurred a pa~d at any time by said MORTGAGEE, becavse d in the event of,the failure on the part of Ihe said MORTGAGOR fo duly, prompily and fully perform, dixharge, execute, efieu, complNe, comply with and abide by each and every ~he stipulanons, sgreements, conditions, and covenants oi sa~d promiswry note and this mo~tgsge any a e~thrr, and sa~d cosn, charges and expenses, cach and eveay, shall bs immediately due and payable; whethe? or not there be no~ke d~ mand, attempt to collecr or suit pend~ng; and the full amount of each and every s~ch payment shall bear interest from ~he date thereof until paid at the ratr of nine per centum per annum; and alt aaid costs, charges and expenses incurred w paid, together with such interest, shall be secured by the lien of tha mort9age. 6. That (a) in the event of any breach of this Mortgage w default on the part of the MORTGAGOR, a(b) in the event any of said sums of money herein referred to be not promptly and tully paid within thir~y (30) days next afte~ ~he same severally become due and payabte, without demand w notice, o~ (c) in the event each and every the stip~lations,- agreements, cond~t~ons and covenants of sa~d promisso~y note and th~s morfgage any a ei?her are no1 iuly, promptly and fulty performed, d~scharged, executed, eifected, completed, compiied with and abided Sy, then in eilher or any such event the said ag- gregate sum mentioned in said promisaory note then remainin9 unpaid, with interest accrued, and all moneys secured hereby, shall become due and pey- able forthwith, or thereafter, at the oprion of said MORTGAGEE, as fully and comple~ety as i( aIl of the sa~d sums of money were or~ginally st~putated to be paid on such day, anything in said promissocy note_w in this Mwtgage to tAe contrary notwithstanding; and thereupon or thereafter at the option of sa~d MORTGAGEE, without notice w demand, svit at law or in equity, therefore or thereafter beg~n, may be prosccuted as if all rnoneys secured hereby had matured pnor to its institution. 7. That in tF+e event that at the beginning of w at any time pending any suil upon this Mortgage, w to foreclose it, or to reform it, or to enforce payme~t of any ciaims herevnder, wid MORTGAGEE sha~l apply to the Cou~t having jurisd~ction thereof for the appointment of s Receiver, such Court shail forthwith appoint a receive~ of said mortgaged property al) and singutar, includ~ng alt and singular the income, p?ol~ts, iuues and revenues from whatever source derived, each and every of which, it be~ng expressly understood, is hereby mortgaged as if specifically set forth and described in the g~anting and habendum clauses hereot, and such Receiver shall have aIl the broad and ef(ective funcnons and powers in anywise entr~tted by a Court to a Receiver, and such appointment shall be made by such Court as an admitted eqvity and a matter of absofute right to said_ MORTGAGEE, and wTthqut reference to the adequacy or inadequacy of the value of the property mortgaged o~ to the sotvency or insolvency oi sa~d MORiGAGOR or the defendants, and that such ren~s, profits, income, issues and revenues shall be applied by such Receiver accord~ng to the lien or equity of said MORTGAGEE and the practice of such Court. 8. To duly, promptly and fully perfwm, d~xharge, execute, effect, complete, comply w~th and abide by esch and every the stipulations, sgreements, conditions and covenants ~n sa~d promissory note and this mortgage set fath. 9. ihat in the event the ownership of the mortgaged premises, w any part thereof, becomes vested +n a person other than the MORTGAGOR, the MORTGAGEE, its successors and assgns, may, without notice to the MORTGAOR, deal with such successw or successo? in i~terest with reference to this mongage and the debt hereby secured in the same manner as with Mortgago~ without in any way vitiating or discharging the Mortgagors' lisbility herr under or upon the debt hereby secured. No safe oi the premises hereby mo~tgaged and no forbearance on the part oi the MORTGAGEE or its successws or assigns and no extension of the ~ime fw the payment of the debf hereby secured given by the MORTGAGEE or its successors or assigns, a~4all operate ro release, d~scharge, modify change or affect the orig~nal liabil~ty of the MORTGAGOR herein, either in whole or in part. 10. It is spec~ficatly agreed that time is of the essence of this contract and that no waiver of any obl~gat~on hereunder or of the oblgaYan se- cured hereby shall at any time thereafter be held to be s waiver of the terms hereof w of the instrument secured herby. 11. In add~tion to the forego:ng monthly payments of princ'pat and interest required by the prom~ssory note xcured hereby, mortgagor covenants and agrees to pay to mortgagee with each momhly payment an add~rional sum estimated by mortgagee to be equal to 1 j 12 of the annual cost of the foliow- in~: A-All real property taxes levied or assessed agai~st the above described real estate. B-Prem~u~ns on fire and windstorm insurance as herein requ~red to be carried on the improveme~ts situate on the above described premises. C-Prem~ums on wch mortgage guaranty insurar~ce as mortgagee shall from t~me to time deem fit to carry on the loan secured hereby. Mortgagee shail from time to time notify mortgagor in w~iting of the amount due arxl payable hereundrr a~d such sum shall thereupon be due and ; Fayable on the due date of the next monthly payment and each successive month thereaitcr ur.til martgagee shall notify mortgagor of a change in such I a~~ount. Such sums sha:l be applied by mwtgagee toward the paymeM of real p~operty taxes, insurance m:ums, and mortgage guaranty insurance ~ premiums. lITNE55 WHER , the said MORTGAGOR has hereunto set his hand and seal the day and year st afaesaid. ~gned, Seal deliv e i the resence of: ~ ~ Sea4 E Sean _~I_L~ ~ ~ ~Sea~ {Seaq STATE OF FLORIDA ~ SS_ couNnr oF St . Lucie Befwe me penonally appeared t I111 O and Elizabeth P. Petri O his wife, to me well krawn and known to me to be the individuals described in and who executed the foregoing instrument, and acknowtedged befwe me that they executed the same for the purposes fherein expresxd. And the said Rlizabeth P Petrillo ,Nife of the said Thnmac potri lln upon a separate and private examination by me taken separate and apart from her said husband, atknowledged to and before me that she exetuted said instrument free{y and volurr tarily and wahout any compulsion, constraint, apprehension, w fear of w from her said hus nd WITNESS my hand and official seal this 9th day or ~`~~f~~f ~ March ~ p 19 73 ~ Nota?y ub ic in and i the St e of Florida at lsrge 249898 My Commission expires: ~ Return To: ~ First Federal Savings ~ loan Associat;on - y. ' _ . Of fort P~erce. ~j~Ta~'/ " -•t ~ ' Fo~t Pierce. Florida Ay~ RECOROfO rf f ~ , _ . ` _ ~ ~'t 1ARG~ ftlEO . ST. LUCtC :OL'VTY FLA. E.:.:i-~ j, 7, 1977, RO4f. ~ ~ i RAS -~'~t~ t: S;.;anCe Cq CtFRK ~.--,CV~T COURT REC~R~ vi' ~IED~~+ , ~ . This Instrument Prepared By R. L. Stut2 ~ ~F` - • ~ . First Federal Savings 8 loan Association ~t6 4 0? 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