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HomeMy WebLinkAbout0218 3. To plac~ and con~inuously keep on ~he bu~'J~ngs now a hereafte~ firu~t~ on :~id 1ar?d and on a!1 equipmem and personatly tovtred by this motlg- ~g~, with all p~tmiv~n~ Ihe~ton paid in full, f~~e insvrance in the usval ~t~nderd_ policy lorm, i~ a sum •pproved by ths MORiGAGEE, snd windetwm insuranc~ in ~M uiusl srandard pol~cy form, in • ium approv~d by tM 1NpRTGAGEE, i~ svcA compe~y w com~nies u th~ MORiGAGfE m~y d~r~ct; ~nd all fin and winds~o~m inauranc~ pQlk~es on ~ny of iaid buiW~n~~. ~ny Im~r~st tF,crei~ w put thereot, in ~Fw ap~rc9a~e ~um afaesaid w in ~xce~s thcreof, sMll contain tM usval ~ta~~dard mo~~pa9te cleuse or suth o~her clause as th~ Mw1~~gee may requ~r~, makirq 1he loss undcr sa~d po1F cies, ~ach and evay, payab~e to iaid MORTGAGEE as its interes~ may appsar, and exh and every suth policy shall be promptly a~s yncd and delivered to •ny held by said MORfGAGEE is furthe~ security to said mortya~e dcbt, sod, ~ot leu ~han ten (10) days in advance of ~he expirNion o1 each policy, to de- livsr to said MORTGAGEE a renewal thereof, IogetF?K with a rKeipt fw tha premium o( wth renewal; and there shall be no f~~e a wind~to~m insur+~c~ plated on ~ny of said b~ildings, ~ny interest therein or part the~eof, unles~ in the form and wi~h 1he lou payab~e +s a~wesaid; and i~ the evenl any sum of money becwnes payable under such policy or polKies taid MORiGAGEE ehall have iM oprion to rece~ve and apply the same w? accoum oi the indebted- ness secured hereby or to ptrmit said MORiGAGORS lo reteive and uss if d any part Ihereol fw othcr purposes, without th~.~oi waiving o~ unpair- ing any equ~ty, lien w right unde~ or by virtue of this mor•gsge; a~d in the evenl sa:d MORTGAGORT shall fw any reason fail to kcep the said p~emisrs so insured, or fail 1o deliver promptly ~ny of said policies of insu~ance to s~id IY{ORTGACafE, or fail promptly to pay fu!!y any pie~nium therelor o~ in any respecl fail to perfwm, discharge, execute, effecl, complete, comply with and ab~de by ~his covenan~, w•ny part he~eof, said MORi;,AGEE may piace and pay fw such insursnce o~ a~y part thereof withoul waiving a affecti~g any option, li~n, equity, w ~ight under or by virtue o( this Mortgage, and the iult amount of each ar+d every such payment shall be immediately due and psyable and shall besr interest from. the date thereof until pa~~ at the rate ol mne per ceotum per annum and to~elher with such interest shall be secured by tha lien of lhis morlgage. ~ 4. To permit, commit or suffer no waste, impairment or deterioration of said proptrty p any p~rt the~eof. 5. To pay all a~d singular the costs, charges and expenses, including a reasonable attuney i fee and co:ts of abstracts oF title, incuned o~ pa7d at any time by said MORTGAG:E, because or in the event of the fa~lure on ~he part of the said MORTGAGOR to duly, pramptly and fully perform, d~uharge. >xecute, etfect, comp}e~e, comply with and ab:de by each and every Ux stipula~wns, agreements, conditions, and covenants o( uid promiuory note and thit n,ortgage any w either, and sa:d costs, chsrges and expenses, each and every, shal! be inunediately dve and payable; whether or not there be noiice do- mand, attempt to collcct or suit pending; and ~he (ull amount of each and every such paymeot shall bea. interes~ from ~he date thereot until p~id at the raie oS ni~~ per ceNUm aer annum; and all said costs, charges and expenses incurred or paid, togethe~ w~th such inrtresf, s1w11 be setured by the lien of this mortgage. 6. That (s) in the event of any breach of this lYbrtgage or defa~lt on the part of ~fie MORTGAGOR, w(b) in the eve~t a~y of said soms of money herein referred to be ~ot promptly and fully paid within thirty (3p) days nex~ after the same severally become due and payebte, without demand w notita, or (c) in the event each and every fhe stipulations, ngreements, conditions and covenants of sa~d promiasory note and fh~s mongage any o~ either are not ~uly, promptly and (ully performed, d~scharged, executed, effected, completed, complied with and ab~ded ~iy, then in e~ther or any such evenl the said ag- gregate sum mentioned in said promissory note thrn ~emaining vnpaid, with interest act~ued, and all moneys secured hereby, shall become due and pay- able iorthwith, w thereaiter, at the option of said MORTGAGEE, as fully a~d completely as i) aIl of the said sums of money were aiginally stipulated F to be paid on such day, anythirg in sa~d promisswy note or in this Mortgage to the contrary notwithstanding; and thereupon or therealter at ~ht opteon of ~ said MORTGAGEE, without notice w demand, suit at law or in equity, therefore or therealter begun, may be prosecuted as if all moneys secured hereby t had matured pnor to its institution. ~ 7. ihat in the event that at the begin~~ng of or at any time pending any suit upon fhis AAortgage, w to forectose it, a to reforrn it, or to enforce + paymenr of any claims hereunde~, said MORTGAGEE shall apply to the Cour~ having jurisd~ction ihereof tor the appointment of a Receiver, such Court shall i Forthwith appoint a receiver of said mortgaged property all and singular, incl~d~ng atl and aingular the income, proF~ts, issues and tevenues from whatever source derived, each and every of which, it being expressly understood, is hereby morrgaged as Ff speufically set fwth and dexribed in Ihe granting and habendvm clauses hereo(, 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 shall be made by such Court as an admitted equity and a ma~ter of absofute right to said MORTGAGEE, and wirhovt` reference fo the adequaty or inadequacy of the val~~e of the property mwtgaged or to the sotvency or inwlvency of said MORTGAGOR w ttie defendants, and that such ren~s, prof~ts, income, isaues and revenues shall be applied by such Rece+ver accwd~ng to the lien or equity of wid MORTGAGEE and the practice of such Court. . - - 8. ?o dvly, promprty and fully pe?form, dischasge, exetute, eifecf, complete, comply with and abide by each and every the stipula~ions, agreements, conditions and covenants in said promissory note and this mortgage set fath. 9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the F10RiGAGfE, ita succeuors and auigns, may, wiihour norice to the MORiGAOR, deal with such succeuor or successor in interest with reference to this mortgage and tFw debt hereby setvred in the same manner as with Mortgagor without in any way vitiating or discharging the Matgagori liability herr under or upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the part of the MOR7GAGff o~ it~ suttessws or assigns and no extension of the tirree for the payment of the debt hereby secured given by the MORTGAGEE or its successors or auigns, afiall operate to release, d~scharge, modify change or affect the original liab~lity of the MORiGAGOR herein, either in whole w in pari. 10. It is spec~fically agreed that time is of the essence uf this contract and that no waiver of any o61igation hereunder or of the obligation se- cured he~eby shall at any time thereafter be hetd to be a waiver of the terms hereof or of the instrument secured herby. 11. In add~tio~ to the forego:ng monthly payments of princ pal a~d ~nterest required by the prom:swry no!e secured hereby, morfgagor covenants nnd agrees to ~y to mo:tgagee ~aith each monthly payrnent an add+rional sum est~mated by mortgagee to be equal to 1; 12 of the annua( cost of the foilow- ~ng: A-Al! rea! property faxes levied or asses:ed agai•ist the a6ove descri6ed real estate. B-Prem~~ms on (ire and windstorm insurar.ce as herein requ~red to be carried on the improveme~ts situate on the above described premises. ~ C-Premiums on such mortgage guaranty ir.surance as mortga4ee sfiait from t~me to time deem fit to carry on the loan secured hereby. Mortgagee shail from time fo time no~ify mortgagor in writing of the amount due and payable hereurtder and 3uch sum shall fhereupon be due and ~ ~-3yable on the due date of the next monthly payment and each successive month thereafter ur~til mortgagee shall notify mortgagor of a change in such a^ ount. Such sums s6ai1 be applied by mo~tgagee roward ~he paymem of real property tazes, insurance prem:ums, and mwtgage guaranty inwrance p~amiums. i IN 4~ITNESS 1tiHEREOF, the said MORiGAGOR has hereunto set his hand and se51 the day and year first oresaid. 1 Sgned, Sealed and de i4e~ed in he presence of: ~ Ses~ _ Ted . AZ O (Sean i - ~Seaq - Wanda L. prnold ! SiATE OF PLORIOA , I COUNTY OF - $t . WC1@ ~ ~ " ' t . . ' ~.l ~ % ' ' ; Before me personally appeared Ted H. AYIlOld • a~ ~ ' Wanda L_ Arnold ` ~ ~ ` ~ ; his wife, to me well k~own ~nil R~r10w~ fd-ine to ~s the intfividua(s descri6ed in and who executed the foregoing instrument, and atknowledged befwe me lhat they exetuted the~ sa~t! fo~ the purpq~s ~ therein expressed. And the said__-~II~ L.. AZAOltj ' `Z p " i r ! ; w;fe of the said ?Qd H_ rnOld a uppia ar~ar8le anll piivpte ~ examination by me take~ separate and apart from her said husband, scknowledged to and before me that she ezecuted saidyn~yriyef~.dr0,ely~ndlrplun= ra: i~y and w~thouf any compulsion, constraint, apprehensio~,lor fear of or fsom her s id husband. ~ • L~ WIiNESS my hand and off;cia! seal thi~_ ~r - da of ~ p1 r , 4 ~ti9_~_ ~ ~ J1n~r„".•• . / Nbtary Public in and for he State of Florida at tarpa My Commission expires ~ Return To: j~ G` % I G'7 S first Federal Savings 3 loan Association Of fort P~erce. ~ For: Pierce, Florida ST AUC f Cp~~r~n~~ E-0 ~~ER POII ~~i. This Instrument Pre ared B J. H. Robeits Jr . ~tER 11,1 ~ I First Federal Savings & Laan AssoYuation ' RF~~~p Yf R F~~~ C6URj~ f of Fort Pierce ~ Florida ~ir ~2 ~ PH , i Checked By l~ t { ~ ~ ~ ; eoox 2~.3 PnCE z18 7~ ~ - - - - - - - `*~i~~ . .