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HomeMy WebLinkAbout1211 3. To p!sce and tOnlinvo~tl~ ketp oo ~ne bu~'J~~~y~ ~ww a hrre~fia~ s~rwte on seid Isnd and on alt equipmem a~d per~onaliy covered by ~his mw~g~ ps, with ~II premiumt thercon pa:d in (ull, fire iniur~nce ~ha u~ual su~~ard polity torm, in • surn approvad by ~he MOR(GAGfE, and w~~+ds~orm insur~nc~ (n tht vswl s~andard pol~q loim, in a ium approved by ths MORIGAGEE, in sucb company or companie~ ~s tM MORTGAGEE may direct; and all firt and w~nds?orm iniurance poliues on any of ~aid build~nps, ~~y interest ~herein a part thareoi, in the agyreqate sum atwesaid w ~ in ~acqs Ihereof, ~hall co.+~ain the usual ~tandard matqaga~ clause a such o~her claus~ ai tM Ma~~age~ msy ~cqu~re, making the loss under sa~d po1F c7e~, eatA and evay, payabls ro sa,d MORTGAGEE ai ~ts fmrre~~ may ~ppear, ~nd each arx! eve~y such policy ihall be promptly ais gned and detive~rd ~o any held by fsid MORiGAGEE ~s furthe~ security to said morlgage dcbt, and, not leu than len (10) days in ~dvance of the e+cpiralion ot cach potKy, to dt I(v~r lo w~d MORTGAGEE a renewal tMreof, togeihtr with a rece~pl (w the p~mium of such renewal; and ~he~e shall be no f~rs or wl~~dstorm insurance p~~ced on any of said build~ngs, any interest therai~ w part thereoF, unlesa in th~ iorm and wifh ~FN loas payable af afore:sid; and in d+e event any ium of money becomet payabl~ unde~ ~uch poiicy or pol~cfes said MORTGAGEE shall have the opt~on ?o recaive and apply Iha sarne on accounl oi 1he indebted- nesa s~twed Aoreby w 1o permit ssid MORTGAGORS to rcceive and uae it a any part ihereof tor othcr pw~;oaes, w~tF»ut th~no~ wai~~n3 or ~mpair- ing any equ~ty, lien w riqhl under or by virwa ot this mo:tgage; and i~ the event ~a~d MORTGAGORS shall fw any reason (ait to keep the s~id premisaa so insured, w faif ro dttiver promptly any of said pol~cies of insurants to said MOR~GAGEE, a fail promptly to pay fully any pr~~nium thereior or in any re~pecf (ail b periwm, d~scharge, ezecute, efFect, comptete, comply witl~ and ab~de by this cove~an4 or any part hercoi, said MORTGAGEE may place and pay fa such insurance or any part fhereof without waivir~ w afiectirq any option, lien, equ~ty, or ~igh1 under oe by virtue of ~his Mortgage, and tht full ~movnl of each and every such payment shall be i~?urndialely due and payable and ahatl bear i~terest from fhe date thereof until pa~d a1 the rate of nine pe~ centum pet annum mid to~ether with such inte~~s~ shali be secured by the lien of this mortgage. 1. To permit, mmmit w suf(er no waste, impairment a deterioration oi said property or any part the~eof. 5. To pay atl and singutar the costs, cAarges and expanses, including a reaso~able anwney's fee and costs of abstracts of title, incurred or pa~d at any time by uid MORTGAGfE, because w in the event of the failure on the pa+t of the said MORTGAGOR to duly, promptly and fulty periotm, d~scharge. ~xecute, e(fec~, comptete, comply with and ab:de by each and every the stipvlat~ons, agreements, condifions, and covenants of said prom~ssory note and ihis i n~o~~gage any a eithcr, and sa:d costs, charges aod eapenses, each and every, ahalt be immed~ately due and payable; whefher w no~ there be notice de x mand, attzmpt to co~IKf p suit pending; and the tutl amouM of each and every svch payment shall bea. iNerest from the datg thereof uroit paid at the ra~e of nine per crnsum pe~ annum; and aM said costs, charges and expenses ]ncurred w paid, together w~th such interest, ~hall be secured by the lieo of thi~ mottgsge. 6. That (s) in the eve~f of a~y breach of this Mortgage w default on the part o( the MORTGAGOR, w(b) in the event any oF said sums of money herein roferred to be not prompt~y and fuily paid within thirty (3pj days ne~ct after the same seve~ally became due and payable, wilhou~ demand or notice, or (c) in the event each and every the stipulations, agree~nents, co~ditions and covenants of sa;d promissory note and fh~s mortgage any w e~~her a~e no1 iuly, prompfly and (u~ly performed, d~scharged, execufed, effected, completed, complied with and abided Sy, then in either or any such event the said ag g~egate wm mentioned in said promiisory note then remaining unpaid, with interest accrued, and all moneys secured hereby, shall become due and pay- ` eble forthwith, or thereaftcv, at the option of sa~d MORTGAGEE, as iully and completely as ii all oi the u~d sums of money were wginafly st~pulated ~ to be patd on such day, anything in sa;d promissory nore or in this hlortgage fo 1he conrrary notwiihs~anding; and thereupon or thereaFte? at the option of sa~d MORTGAGEE, without nof~ce w demand, suit at law a in equity, thereEwe or thereafter begun, may be prosecuted as if alt moneys secured hereby n~d matvred pnor to i~s institution. 7. That in the event that at fhe beginntng of or at any time pending any suit upon this Mortgage, a to foreclose it, w to refam it, or to enforce ~ payment of any ctalms he~eunder, said MORTGAGEE shall apply to the Coun having jurisdict~on thereol ior the appointment of a Receiver, such ~oun shall ~ forthwith appeint a receiver of said morigaged prope?ty all a~d singular, inclvd~ng all and singular the income, prof~ts, issues and reve~ves from whatever sevrce darived, each and every of which, it be~ng expressiy underst~, is hereby mortgagrd as if spec~ficalty set fonh and deuribed in the g~anting and ~ habendum clauses hereof, and such Receiver shall have all the broad and effective funct~ons and powers in anywise entrusted by a Court to a Receiver, and s: ch appointment shatl be made by such Caurt as an admitted equity and a maner o! absolute right to said MOR7GAGEE, and without reference 1o the ~ adequacy w inadequacy of the value of the property mortgaged or to the sowency or insotvency of said MORTGAGOR or the defendants, and that such ~ renn, profits, income, ~uues and revenuei shall be applfed by such Receiver according to the lien or equiry of sa~d MORTGAGEf and the practice of such Court. 8. To duly, promptly and fu!ly perform, discharge, exec~te, effect, compiete, compty with arxl abide by each and every the stipulations, agreeme~ts, ~ ~ con itivns and covenams +n sa~d promisswy nore and this merrgage set forth. 9. That in the event the ownership of the mortgaged pren,ises, or any part thereof, becomes vesttd in a person other than the MORTGAGOR, the h•.ORTGAGEE, its successors and assi9ns, may, v~ithout notke to the MORTGAOR, deal wi~h wch successor or successw in imerest with reference to this mortgage and the debt hereby sec~red in the same manner as with Mortgagor w~thout in any way vit~ating or d~xharging the Mortgagors' liability here- under w upon the debe hereby secured. A!o sale of fhe premises he,eby mortgaged and no fofbearance on the part of the MORTGAGEE a its successors or assigns and no eatension of the time for the payment of the debt hereby secured oiven by the MORTGAGEE or its succeuws or auigns, ahall operate ro release, d~s:harge, modify change or af(ect the original iiab~tiry of the M.ORTGAGOR herein, either in whole or in part. 10. It is speuficalty agreed that timt is of the esse~ce of this contrad and that no waiver of any flbligation hereunder or of the obligaYwn se- cu~ed hereby shall at any time thereafter be hetd fo be a wa~ver of the terms hereof or of the instrument secured herby. 11. In add.tion to the ferege ng montii!y payments of pri^c pal and in~erese required by the prom:ssory note secured hereby, mortgagor covenants and agrees to pay to_c~prtgagee N;th each mon~hiy payr,~ent an add~rionat s~m esrirt,ated by mortgagee to be equal ?o ) j 12 0! the annual cosi of the follow- ng: A-All real property taxrz levied or assessed ay3inst the above describcd real esrate. B- Promiums on fire and windstorm ins~rar.~e as nerc~n requ~red to be carried on the improvemeats situate on ihe above d:scsibed premises. ~ C-Premiums on such mwtgaqe guaranty ir.s~rance as mortgagee ahall fra~r nme to time deem fii to carry on the loan secured hereby. t Morfgagee sha?I from t~me to Time r.ctify mortgagor ~n writing of the amovM due and payable hereundr? and such su~n shatl thereupon be due and t,ayable on the due dare of the next month:y payment and each wccessive month thereafter ur.til mwtgagee shall notify rrwrtgagor of a change in such a~~ount. Sucb wms sha:i be app~i~d by mortgagee roward the payment of rea! prope.ty Taxes, insurante prem:ums, and mortgage guaranty insuraace p~emiums. Ih! L'~ITP~ES$ ~'~lHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and year first aforesaid. r r Signed, Seated and de{iv red in.fhe presence of: a~ - E e Herndo ~~a~~ ; - tSea1) N1arY . Herndon cseaq 5 i ATE OF ftORIDA - ~ St . Luc ie ~ couvrY oF Before me personally appeared ~uaene Herndon a~d Mary A. Herndon his wife, to me we11 known and known to me fo be the i~dividuafs desvibed in and who executed the foregoing instr~ment, and acknowledged befwe me that they exewted the same for the purposes therein expresud. Md the said Mary A. Herndon w~fe of the :a~a _ Euaene Herndon upon a sep~ra}~ ~~d pfivate examination by me taken separate and apart from her said husband, actcnow(edged to and before me that she executed said instrumenj~+~lly•aryd..yolyo. tarfly and w~thout any compulsion, constraint, appreher~s~oq, fear oE or from her s~id husband. .=<r- , 7 . 73 WiTNES$ my hand and official seal this ~ day of ~1 ~ D. ,19f~~ J~•~ ~ .i , N ary Public in a for .~he Slate:of110rida~t~ l ge ~ - ; My Commi; ~ xp~es:% v/'~1 ~ ~ ~ ~ : - f Return To: ~ ~ ! 1 ! '.L~ Firsf Federal Savings 6 loan Associat~on ' Oi Fort P;eree. , ' i • ~ ~ _ i ~~v~i , . ~ For. Vierce, florida • - fItEO 4a5 RfCORDEO S i%, ST.IUCIf COUNTY FIA, r~,,,,.,.~•' ROC~k T~AS CLE~K C' ;:UIT COURT This Instrument Prepared By Richard K. Kayes °=~~R~ :'=f`"E~.~.~~.. First Federal Savings 8 loan Association ~ 18 3 39 PN ~73 of Fort Pierce ~ Flor ida Checked By ~ . Boox212 P~~~1211 Sb ~ _ _ _ _ - - - - - .