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HomeMy WebLinkAbout1344 . ~ 3. To plac~ ~nd continuou~iy keep a+ the bul!d~ngi now o~ hereafter ~ituat~ o~ sa~~ land and on all equ~pment snd p~nonally covs~ed by this ma~~ sgs, with al) premiumi tlxreon pa~d i~ futl, lire insu~ance in IM usual tundsrd poticy fam, in • sum approvtd by the MORiGAGEE, and windstwm insuranc~ in ~M uiual ~randud pol~cy fa.m, in a sum ~ppro~rtd by th~ MORTGAGEE, in such company or comp+~~es +s ~M MORTGAGEE may d~nct; and aIl fi~~ and w~rdsrorm insora~n pol~uas on any of sa~d buiid~npa, ~ny Inte~est tMrei~ w pa?~ thereof, in Ihe ayyrepate sum ~fae~aid a In ~xcess Ihereof. ihall confain fhe usual ~tandard matpa9~s daus~ w such o~ha clsus~ as tM Mat9a9ee may ~equ~r~, m~kinp tM toss under sa~d poH- ciei, each ~nd ~vNy, payab~~ to said MORTGAGEE at ita intereit may ~ppear, a~d each and eve~y such poUty sha~l bs promptly ~u yncd and delivered ~o •ny held by stid MORTGAGEE as iurrher srcurity to said mortpage debt, and, not leu than ten (10) days in ~dvance oi ~he eapir~t~on ot each policy, to da Icver to ssid MORTGAGEE • renewal thereof, ~oge~her wi~h • receipt tw IM p~tm~um of ~uch ~snewa?: snd ~hen ihall b~ no f~re o~ w~ndsiorm insur~nce pl~ced on ~ny of said buildir.g~, a~y interc~t ~herein a part 1Mreof, unfess in tl+~ form and with tM lou paYabl~ as afatsaid; and in the event a~y sum of money becomes payabl~ vnder such po~ity w po~icies said MORTGAGEE shall have ~M optan ~o receive and apply the same on +ccoum o( ~he indrbted- neu secured hereby o~ to permit said MORTGAGORf to receive and uss i1 q any pa~t tAeteo) for othe~ purposes, whhou~ th_~eb/ waiv~ng or impa~~- ing any equity, lien a~ght under or by virtue of this mo::gage; +nd in the event sa~d MORTGAGORS shall (w ~ny reason fail fo keep the said p~emisas so insured, or fail to daliver promptly a~y of iaid policies of insur~nce to said MORTGAGEE, w lail promptly to pay fully any p~e~nium therefw w in a~y respect fail ro perfwm, discM~ge, execute, effect, complete, comply with and abide by this coven~nt, w anr ps.+ hereof, said MORTGAGEE may place a~+d 7 pay fa such insurance or +ny part thc~eof without waiving o~ affectinp any option, lien, equ~ty, a ~~ght unde~ w by virtue of 1h~s Ma~gage, and the fuli amount of each and every such payment shall be immediately dw and payable and thall bcar imeres~ from ~he date the~eof until paid at the rate of nine per tcntum per annum and togethr? with such interest shall be secured by the lien of lhis matgage. 1. To permit, commit a suffer ~?o wasts, impairment a deteraration of said property or any part thereof. 5. To pay all and singulsr 1he costs, charges'and expenses, including a reasonable attorney's fee a~d cos~s of abstracts of title, incurred o~ paid at any time by aaid MORTGAGfE, because w in the event of the fail~re on the part of the said MORTGAGOR to duly, promptly and fvlly perfwm, d~schsrqe, execute, etfect, complete, comply with and ab:de by each and every the stipulations, agreements, conditions, and covenants of said prom~ssory note and this mortgage any w either, and sa~d cosn, charges and expenses, exh and every, shall be immediately due and payable; whethe? o? not there be no+~ce dr mand, attempt to coJlect or wit pend~ng; and the full amount of each and e~ery such payment shall bear interest from the date thereof until paid at the ~:,re of nine per centum per annum; and all said costs, charges and expenses inturred or paid, together with such interest, shall be secured by the lien of thi~ morf98g1. ' 6. Thal (a) in the event of any b~each of this Matgage o~ default on the part of the MORTGAGOR, or (b) in the event any of said sums of money herein referred 1o be not promptly and fully paid within thirty (30) days next after the same severally become due and payable, without demand or notice, or (c) in the event each and every the stipulations, agreeme~ts, cond~tans and covenants of sa:d promissory note and th~s mortgage any a either a~e not iuly, promptly and fully performed, d:scharged, executed, eifected, completed, compl~ed with and abided by, the~ in e~ther or any such event the sa~d ag- gregate sum mentaned in said p~omisswy note then remaining unpa~d, with interest accrued, and all moneys secured hereby, shall become due and pay able fwthwith, w thereafter, at the option of said MORTGAGEE, as fully and completely as if all of the said sums of money were wig~nally stiputated to be paid on svtli dsy, anything in sa:d promisswy note « in this Matgage to the contrary notwithstanding; and thereupon or thereafter st the option of said MORTGAGEE, without notice or demand, suit at law a in equity, thereFore or thereafter begun, may be prosecuted as if all moneys setured hereby had mstured pnW fo its institution. 7. That in the event that at the beginning of or at any time pending any su~t upon this Nbrtgage, or to faeclose it, or to reform it, or to enforce ~ payment of any claims Fxreu~der, said MORTGAGEE shall apply to the ~ourt having jurisdiction thereof for the appointment of a Receiver, such Courf shall ~ forthwith appoint a receiver o( said mortgaged property all and singular, includ~ng all and singula~ the income, profits, issues and reve~ues from whatever :ource derived, each and every of which, it being expressly understood, is hereby morrgaged as if speciiically set forth and deuribed in the granring and habendum clavses hereoi, and such Receiver shall have ail the broad and eifective funct~ons and powers in anywise entrusted by a Court to a Receiver, and s~ch appointment shall be made by such Court as an admitted eqvity and a matter of absolute ~ight to said MORTGAGEE, and without reference to the adequacy w inadequacy of the value of the properry mo.tgaged or to the soive~cy or inso?vency of said MORTGAGOR or the defendants, and that such rents, profits, income, issues and revenues shatl ue applied by such Receiver accord~ng to the lien or equity of said MORTGAGEE and thr practice of such i CouA. 1 8. To duly, promptly and fully perform, d~scharge, ezecufe, effect, complete, comply wilh and abide by each and every 1he stipulations, agreements, S co~ditaro and covenants in u~d promissay note and this mortgage set forth. f 9. That in t6e event Ihe owner:hip of the mortgaged premises, or any pan thereof, becomes vested in s person other than the MORTGAGOR, the h!ORTGAGEE, ih succeuors and assgns, may, without notice to the MORTGAOR, deal with such successw w successor in interest with reference to thia mortgage and the debt hereby setured in the same manner as with Mortgago. without in any way vitiating or discharging the Mortgagori liability he~e- 4 under w upon the debt hereby secured. No sale of the premises hereby mortgaged and no fo.bearance on the pari of the MORTGAGEE or its successors ~ or assigns and no ex~ension of the time for the payme~t of the debt hereby secured given by Ihe MORTGAGEE or its successors or ass~gns, ahall operate ~ to release, dixharge, modify change or affetl the original liability of the MORIGAGOR herein, either in whole or in part. 3 10. It is spec~fically agreed that time is of the essence of this contract and that no waiver of any obtigat~on hereunder or of the obligaYan se- i c~red hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the instrument secured herby. ~ 11. In add~tio~ to the fwego:ng monthly payments of princ'pal and interest required by the promissory note secured hereby, morigagor covenanfs ~ and agrees to pay to mo:tgagee vcifh each moo~h.y paymer.t an addlrional sum estimated by mortgagee to be equal to 1/12 oi the annual wst of the follow- ~ in~: A-All real property taxes lev~ed or assessed against thc above described real estate. { B-Prem~ums on fire and windstorm insurar.ce as herein requ~red to be carried on the improveme~ts situate on thr above described piemises. ; C-Premi~ms on such mortgage guaranty insurar,ce as mortgagee shall from t~me to time deem fit to carry on the loan secured hereby. Mwtgagee shall from time to time notify mortgagor in writing of the amount due and payable hereunder and such sum shall thereupon be due and ' F ayable on the dve date of the nezt month:y payment and each successive rr.onth thereafter ur.til mortgagee shall ~otify mortgagor of a change in such e~~cunt. Such sums sha11 be applied by mo~tgagee toward the payment of real property taxes, insurance prem.ums, and mortgage guaranty insurance ~ oremiums. ~ IN WITNESS WHEREOf, the said MORTGAGOR has Fwreunto set his hand and seal the da year first toresaid. Signed, Sealed a:~d delivered in the ence of: ~ Sean an - _ al) • ±,r~t. SS - O S _ _~Seaq . STATE OF fLORIDA ~ ' S5. s COUNTY OF ~ ~ . ~ Before me personally appeared JO~]Tl W. Donahue and G'ZOI'~ ~~'1118 his wife, to me well known and known to me to be the individuats described in and who executed tF~e foregang instru nt, and acknawledged before me that they e:ecuted the same for the purposes therein expresxd. And the said Glori~)'Donahue i~•~=~~~~ w~fe of the said JO~lII W. ~OT18Y1116 _ upor~,i,ieparste aas! pr~vste examination by me taken separate and apart from her said husband, ukrawledged ro and before me tha he executed sa~d juslrument ~ragly and volum tarily and without any compulsion, constraint, appreh si ear of or from ' husband. l"~ n;: ~1 WITNESS my hand and official seal tfii day of A: D. 19~.1L ~ ,~''n ~ - - ary Public in end for t , ~t;ta ~ ' ~f ~?pn ~ Commiu"wn expircs: ` Retum To: ~ • ' ~ • . , - . First Federal Savings d~ loan Association Notary Pub6c, Sta:~ of Florido ih l~~ar ~ Of Fo~t P~erce_ , Mr Commission EYpir~f OK. 17. I~b Fort Vie~ce, Florida gend.d by !?~erKgn f?ce Q~ CoswBr Gi, I>-?~-~b This Instrument Prepared By J. H. ROb92'ts ~ JY'. fItEC ~til oE• nqDED ~~~Q~~ First Federal Savi~gs 8~ Loan Association ST.LUC~T~ ~~~~R~S~A' ~ of Fort Pierce ~ F1o1'ida CtE~r `~i* ~ovaT qcf~: ~ y. . . .E.. Checked By ~ Y.e ~n ~ 5~ 1'~AI~ 1~ eoox 212 PacE~344 r '~,A . , . _ ~ ' '