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HomeMy WebLinkAbout0212 3. To ptxe and continuously keep on Ihe bui:dings now a heraafter ~iluete oo taid I~~d aod oe aU equ~pment and psrfona~ly covered by this morty- ~g~. wilh •11 ptemiumt thereo~ pa~d in full, fire insurance in the u~ual srar+dard polity form, i~ • tum •pp~oved by Ih~ MOR(GAGEE, a~~d windstorm insurance in iM v~ual ~undard pol,cy (wm, ie • sym ?pproved by tM MORIGAGEE, !o ~ucb canpany or compan~es as th~ MORiGAGEE may d~nctj and +II (ire and wtnditorm in~waoce pohues on ~ny of ~sid build~nys. any inta~st ~herei~ w part Ihe~cot, in the a~yreyue wm aloresaid w in ~acess thereof, ihall cumain ~he us~al standard mwrgayea clau~e a such otha claus~ ~i ~M Maiyagee may ~equi~~, ma4inp ~he Ioss under sa~d po1F cies, each and evay, payab!s to said MORIGAGEE as i~s int~~es1 may ~ppear, and each and eve.y such policy shall be prompNy ass gned a~d deliverrd to •ny held by said MORiGAGEE as (urther tecurity to said ~nor~gage deb~, and, nol le» tMn ~en (10) days in ~dvanca of the expiration ot e~ch policy, to da IivN fo aaid MORTGAGEE a rencwal thereo(, taperhtr with a~ec~ipt fa tl?s piemivm of tvcl+ ~enewal; and ~he~~ shall be no ifre o? wi~i~o~m inw~ancs plac~d on a~y of said buildings, any intere~l tharein a pa~t ~hereof, unle~a in tM torm snd with the lou payable as afore~aid; ~nd in ?M evenl any tum oi money becpme~ payable under s~ch polity w pol~c~es said MORTGAGEE shall have the opt~on to recei~e and apply the same o~ accounl of the indebtad- ness secur=d hereby w ro pe~mil said MORTGAGORS fo reteivs and use it p aoy pa~t thereol for otncr purposes, v.~thout ~h~.eo~ waiving or ~mpair- ing any equity, lien a right unde~ w by vi~tus of tl+is mo:rg~gs; and in the eve~t sa~d MORTGAGORS shatt fw any reason fail to keap the said premi~cs so insured, o~ fait to detiver promptly any of said polit;es of inavrancs to said MORTGAGEE, a fail pramptly to pay fully any prernium thereiq w in any # reipect fail to perform, discharge, execute, etfecl, complete, comply with and abide by thi~ covenanf, or any part herepf, said MORTGAGEE may pl~ce and pay fot such insurance w ~ny part thereof without waiving or affectinp any option, lien, equ~ty, or aigh! under or by virtus of this Matgage, and tF?t full amount of each and every such payment shall be immediately due and payabls and shall bear interesi from the date thereof until pa~d at the rate of ' nine per centum per annum and to~ether with such interest shall be srcured by the lien of ihii mortgage, 1. To permit, commit w suffer no waste, impai~ment w deteriotation ot said property or sny part thereof. 5. To pay all and singular the cosfs, charges snd expenses, including a reasonable aftaney i fee and costs of abstracts of title, incurred w paid at any time by aaid MORTGAG:E, because w in the eve~t of the failure on ~he pan of the said MORTGAGOR to duly, promp~ly and fully p=riam, d~xharge, execute, effect, complete, comply with and ab:de by each and eYery the stipulaf~ons, agreements, conditions, and covenants of sa~d p.omiisory note and ~his mortgage any o~ ei~her, and sa;d costs, charges and expenses, each and every, shall be immediately due and payable; whether w not there be notice dr mand, attempf to collect or suit pend~ng; and the full amouM of each and every such paymenl shall bear interesl from Ihe date the~eof until paid at the r~te of nine per cent~m per an~wm; and a!I said cotts, charges and expenses incu~red a paid, together w~th such interes~, shall be secured by the lien of this matgage. . Q That (a) in the event of any breach of this Mortgage or default on tM part of the MORTGAGOR, or (b) in the event any o( ss~d iums of money herein referred Io be not promp~ly and f~lly paid within thirty t30) days next aite~ ihe same severally became due and payable, withou~ demand or notice, or (c) in the event each and every the stipu!ations, agreements, conditions and covenants of sa~d promiuory note arxl th~s mortgage any w either are not iuly, promptly and fully performed, d;scharged, eaecuted, eifectcd, completed, compfied with and ab~ded tiy, theo in either or arty svch event the sa;d ag + gregale aum mentioned in said promisswy note then remaining u~paid, with interest accrued, and all moneys secured hereby, shall become due and pay- ~ able forthwith, or thereaiter, at the option of said MORTGAGEE, as fu~fy and completely as ii all of ~hr said sums oF money were originally ttiputated to be paid on such day, anythirg in sa;d promisso~y note or in this Mortgage to tF~e contrary notwithstanding; and Iherevpon w thereaftr at the option of said MORTGAGEE, without notice w demand, suit at law or in equity, therefo~e or thereaiter begun, may be prosecuted as if all mo~eys secured hereby had maWrCd pr~Or to its inttitution. 7. That in the event that at the beginn~ng of or at any time pending any suir upon this Mortgage, or to fweclose it, o? to retam if, o~ to enfo?ce payment of awy claims hereunder, said MORTGAGEE shall apply fo the Court having jurisdic~ion thereol for the appointment of a Receiver, such Court shall Fonhwith appaint a rece~v~r of said mortgaged property all and singular, includ~ng all and singular the income, prof~fs, issues and revenues lrom whateve~ source derived, each and every of whith, if being expressly undersiood, is hereby mortgaged as if sp¢c~ficalty set forth and deuribed in the granting and ~ habendum clauses hereof, and such Receiver shall have all the broad and effective funct~ons and powers in anywise enlrusted by a Court fo a Receiver, and s~ch appointment sAaif be made by such ~ourt as an admitted equity and a mafter of abso~ute right to said MORTGAGEE, and witMut reference to the adequacy or inadeq~acy of the value of the property mortgaged or to the soivency or in:olvency of said N1pRi6AGOR p the defendants, and that such rents, profits, income, iuues and revenues shall be appiied by such Receiver accord~ng to the lie~ or equiry of said~MORTGAGEE and the pradice of such Court. ~ - 8. To duly, promptly and fully perfwm, d~scharge, execute, effect, complete, comply with and abide by each and every the siipulations, agreements, ; conditions and covenants in said promissory note and this mortgage set fwth. 9. That in the event th~ownership of the mo?tgaged premises, a any part thereof, becomes vesfed in a person other than the MORTGAGOR, fhe MORTGAGEE, its successors and assigns, may, wi~hout notice to the MORTGAOR, deal with such successor or s~ccessor in i~terest with re(erence to this mortgage and the debt hereby sec~red in the same manner as with Mortgagor without in any way .vitiating Or discharging the Nbrtgagors' liability herr under or upw~ the debt hereby secured. No sale of the premises hereby mortgaged and no forbearan~ on the part of the MORTGAGEE or its successwa or assigns and rso extertsion of the time for rhe payment of the debt hereby secured given by the MQRTGAGEE or ita successws w assigns, ahall operate to release, d~xharge, modify change or aifecr the original iiab+lity of the MORTGAGOR herein, either in who~e o~ in pan. 10. It is speciiically agreed rhat time is of the essence of this corttratt and thaf no waiver of any obligation hereunder w of the obligation sr cured hereby shall at any time thereafter be held to be a waiver o( !?~e terms hereof w of the instrument secured herby. 11. In add~tio~ to the forego"ng monthty payments of princ pal and interest required by the promiswry note secured hereby, mortgagor tovenants and agrees to pay to mortgagee with each monthty p,~yrnent an add~rional sum estimated by moetgagee to be eq~al to 1~ l2 of the annual cost of fhe follow- in~: • A-All real property taxes levied or assessed against the above desvi6ed real esrate_ B-Pren;~urns on fire and ~vindstorm insurar,~e as herein requ~red to be carried on the improveme~ts situate on the above d~scribed p?emises. C-Pramiums on su~h m.ortc~age gua~anty insura~~ce as mortgagee shaN from t~me to rime deem fit to tarry on the loan setured hereby_ Morrgagee shail irom t~me to t~me not~fy mortgagor in writ~ng o( the amount due and payable hereunder and such sum shal) thereupon be due and payable on the due date of the next monthly payment and each successive month thereaiter ur,til mortgagee shall notify mortgagor of a change in such amo~nt. Such sums shail be apptied by mortgagee toward the payment of real property taxes, insurance prem:ums, a~~d mortgage guaranty insurance premiums. IN WITNE55 Y~HEREOf, the said MORTGAGGR has hereu~to set his hand and seal the day a(~d year fir:t aforesaid. Sign Seal and detive5ed in the presence of: ~ ~ _ ~ ~ ~'`"i,1 +4 - C ZIl@ (Seaq ~'~'~f~e~ ~L~ -~ett - Rzances S Cartie ~~sq srarE oF rtoaioa ~ couNnr oF St. Lucie ~ ~ John Carne Befwe me perscnally appeared a~ Frances . azney his wife, to me well known and kriown to me to be the individuals described in and wFw executed tF?e foregoing instrument, and acknow{edged before me that they executed the same for the purposes therein x r s . titK S a , e p e sed And the said e C rllE{/ Nife of the said `j0~ C~~~ upon a separate a~d private examination by_ine-taken' ceparate and apart from her said husband, acknowtedged to and before m that she executed ~d instrument freely and vol~n- rarily and •Hithout any compulsan, constraint, appreh n"on, o fear of or from her said hvsband. • . WITN~my• hand and offidal seal thiL~ day of a ~ 1 A, D. 19 73 E. ~ ^ ' ~ ~ 1~_' ~J •V l•••~'•~f„ . Nota y Public in and fw the State of Fbrids at targe ~ ~ : ' ~ My Commiuan e~cpires: ; ~ N Retuqt?o: f ':FirsV' Fedelbl ~ig9; ~ loan Association NpT/~ wkK STA1E OF f[ORIDA Ai tARO! ' i : ~ Of~olt ~R~erce. MY COAAMISSION EXPIRES FEi. IT. IY7~ i%~'• ~ F~rt~~e~e. Flwida /0t10E0 TMRU GENERAL INSIIRANCE YNDERWRITE~i ' ..~N•~~f. - ' • ',T 1~ aAMBRE~~, ~ J This Instrument Prepared 8y John W. CO11iAs j~~;E C~• j' OCfR POfTRA~ ~ ~ First Federal Sav~ngs & loan Assouation CLERK CIaCWt ~WRT , i of Fort Pierce~ FlOrida Rf.CORDVER:FIED ~ ~ Checked By ~2 as PM ~T~ j s ~ s~ • . 25~128 ~ Et'RK~~J ~~^r 2~~.,f . - - - ~ ~ =a~_;