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HomeMy WebLinkAbout0510 3. To plxe and continuously keep on thc buitding~ now a M~e~fta si?uaN on s~id land snd on all equi~xnent and perwnally covsred by Ihi~ mor~g~ with all premiums thercon pa~d in (ull, (ire insurance i~ 1M usual standard policy (wm, in • fum approved by Ihe MORTGAGfE, and windstwm insuranc~ in tM uswl sranda.d pot~cy fwm, in ~ sum approved by tM /?~RiGAGEE, in tuch company w companies as the MORTGAGEE may i direct; ~nd all tire a~d wlnds~orm insurance policiei on a~y of ia~d build~nyt, any interes~ thaein or pan thereoi, in ~M ~pqreya~e wm ~faeiaid or in ~xcess tAereof, ihall confain the usual standard mortga9ee ctauae o~ such othe~ claui~ ~s tM Mwtpage~ may reqv~% makinp ?hs lou u~der ~a~d pol'r ciss, each ~nd every, payable to said MORTGAGEE as its interesl m~y ~ppear, ~nd each and evay tuch policy ihalt be promptly ~ss gned ar+d delive~cd ~o any held by ia~d MOQTGAGEE as (urtFw~ secvrity to isid mo~tgage debt, and, r?o~ las~ tMn ten (10) days in advarxe of tha expiration ol each policy, to da live~ to said MORTGAGEE a renewal tF?eieoi, togethsr witA • reteipt for the pr~mivm of tuch renewal; and there thall be rq fire or windslorm inaura~c~ pl~ced oo ~ny of said buildings, any interest the~ein or put thereof, unless in 1M tam and wifh tM lou payabk ~a afaesaid; ~nd in the ev~nt any wm of money becomes payable unde~ such policy or poticies faid MORTGAGEE shall have the option to ~eceive and apply the same on ~ccoun? of the indebted~ ness secured hereby a to permi? said MORTGAGORS to reteive and use it or any parf thereo) fo~ other purposes, . witho~t th:~rb~ waiving or unpair- t ir+g any equ~ty, lien w right under w by virlue of thu mo:tgsge; ~nd in the event said MORTGAGORS thall fw any reason (ait to keep rhe said premt:e~ io f insured, a fai! tp delive~ p~omptly any ot said policies of insunncs to said MORTGAGEE, or fail promptly to pay fully any pre~nium therefo~ o~ in any j respect fail b perfwm, discharge, execute, effeH, comptete, comp~y with and ~bide by this covenanL or any part he~eof, ssid MGRTGAGEE may place and pay fw such insurance o~ any parf thereof witAout waivin~ or affecting any opfion, lien, eqv;ty, a right under o~ by virtus of this Mo~tgage, and the - fuil amount of each a~d every such payment shall be iirunediately dw a~d payable +nd shall bear interest from tha date thereof until paid at ihe rate ol n~ne per tentum per annum and to~ethe~ with such interest shall be secured by the lien of this mortgage. 4. To permit, commit w sut(a no waste, impairment a deterioration of said prope~ty or any psrt thereof. 5. To all and si ; pay nguler the costa, charges and expenses, including s reasonable sttorney'~ fee and costs of abstrscts of title, incurred w paid st ~ any time by said MORTGAGfE, because or in the event of the failure on the part of the said MORTGAGOR to duly, promptly and fully pe~form, discharge. execute, effetl, comp;ote, comply with and ab:de by each ~nd every the stipulations, agreements, condiliora, and covenantt of said promisso~y note and this mortgage any w either, and said costs, charges and eapenses, each and every, shsll be immediately due and payable; whether or no~ tF?ere be no~ice d~ mand, attempt to collect or :vit pending; and the futl amount af each and every such psyrn~nt shall bear interest irom ihe date thereo/ until paid ~t rhe rare of nine per cenrum per anr~um; a»d al! said costs, chsrges and expenses incurred or paid, together wilh such interest, ahall be secured by the lien of thu mortgaye. 6. That (a) in the eveM of any breach of this Mortgage w defauh on the part of the MORTGAGOR, or (b) in the event ~ny of said sums of money herein reterred to be not promptty and fvlly paid wirhin thirty (30) days nexf after ~he same severaliy become due and payable, wifhout demand or notice, or (c) in the event each and every the stipulations, agreements, cor+ditions and covenants of sa~d promissory note and th~s mwtgage any w either are not ~uly, promptlY and fully performed, d~xharged, executed, effected, compteted, complied with and a6ided by, tlxn in eirher or any suth event the sa;d ag gregate sum menlioned in said promissory note ihen remaining unpaid, with interest sccrued, and all moneys secured hereby, shsll become due and pay~ a61e futhwith, or thereafte~, at the opt~o~ oi said MORTGAGEE, as fulty and completely as ii all of the said sums of money were originally st~putated ro ba paid on svcA day, anything in sa+d p.omissory note or in this Mwtgage to the con+rary notwithstanding; and thereupon o~ thereafter at the option of said MORTGAGEE, without notice or demand, suit at law or in equity, therefwe w thereafter begun, may be prosecuted as if all moneys secured hereby had matured pnor to its institution. 7. That in the event thar ar rhe beginn7ng of or at any time per~ding any su;t upon this Mwtgsge, or ro foreclose it, or to reform i~, or to enforce payment of any claims he~eunder, said MORTGAGEE shal! apply to the Court having jurisdiction thereof fw the appointment of a Receiver, such Court sh~ll farthwith appoint a receiver of said mortgaged property atl and singular, includ~ng a0 and singuiar ~he income, prof~rs, issues and revenues from whatev~r source derived, each and every of wh~ch, it bei~g expressly understood, is hereby mortgaged u if speufically set fwth and dewibed in the g.anting and habendum clauses hereof, and such Receiver shall have all the lxoad and effective funct~ons and powcrs in anywise entrusted by a Court to a Reteiver, and :uch appoinrmenr shatl be made by such Court as an admitted equity and a malte? of absolute righl to said MORTGAGEE, and withovt re(erente to the adequacy w inadequacy of the value of the proporry mprtgaged or to the sotve~cy w insolvency of said MORTGAGOR w the defendants, and that such ~ rents, profits, irxome, issues and revenues shall be apptied by such Receiver accord~ng to the lien ar equity of said MORTGAGEf and the p~actice of such ~ Court. _ i 8. To duly, promptly and fully perform, discha~ge, execute, effect, complete, comply with and abide by each arid every the stipulations, agrcemenri, ~ conditions and covenants in sa~d promisspy note a~d this mwtgsge set forth_ 9. That in the event the ownership of fhe mortgaged premises, w any part thereof, becomes vesred in a peraon other than the MORTGAGOR, the t h!ORTGAGEE, ifs successo.s and assigns, may, without netice to the MORiGAOR, deal with such successw or successor in interest with reierence to thia ~ mortgage and the debt hereby secured in the same manner as with Mortgagor without in any way vi~iating or dixharging the AAwtgagors' liability herr under or upon rhe deb? hereby secwed_ Mo sale of the premixs hereby mortgaged and no forbearante on the part of the MORTGAGEE or its sutceuors or assigns and no extension of the time tor tlx payment of the debt hereby secured given by the MORTGAGEE or its successors or auigns, ahall operate to release, discharge, modify change o~ a(tea the original liability of the MORTGAGOR herein, either in whole or in par1. t0. It is specifically agreed that time is of the esunce of this contract and that no waiver of any obligatipn hereunder w of the obligation sr c~red hereby shall at any time thereaf~er be held to be a waiver of the terms hereof or of the instrumeM secured herby. 11. In add~tion to the fwego:ng monthly payments of princ'pal and interest required by the promiuory note secured k+ereby, mortgago? covenants and agrees to pay to mo:tgagee w~th each monrhty payrnent an~add~rional sum estimated by mortga~ee to be equal to 1%12 of the annual cost of the follow- in9: ' A-All rea! propcrty taxrs levied or assessed against thc above described real estate. { i B-Premiums on fire and windstorm insurance as herein requ~red to be carried on the improveme~ts situate on ihe above described premises. C-Premiums on such mortgage guaranty insurar~ce as mortgagee shall from time to time deem fit fo tarry on the loan securesl hereby_ Mortgagee shall from time to time notify mortgagor in writing oi the amount due and payable hereunder and such sum shall thereupon be due and Fayable on the due date of the next monthly payment and each successive month thereafter urtil mortgagee shall notify mortgagor of a change in such a~~;ount. Such sums shail be applied by matgagee toward the payment of rea! property faxes, insurarxe prem:ums, a~xl mortgage guaranty insurance premiums. IN WITNESS WHEREOf, ~ said RTGAGOR has hereu~to xt his hand and seal the day a year first aforesaid. " ned, an efiver 'n the esence of: ' ~ 71 ,n - Jos ~ h O n acitLt (5eaq ~Seaq STATE OF FlORIDA ~ ' St. Lucie ' couNnroF ~ ~ Before me perwnally appeared .108eDj1 ~BOnte~ a ainflle BdiL~ ~t ~p(~ to me wel! known a~d krawn to me to be rhe individuat/ described in and who executed the foregoing instrument, and acknowledged befwe me that ~he~ executed the same fo~ the purposes therein expressed. Awd.tiN.~ei~ ~ i rwif~ rL ~~+id. rp~w~~MA~i1.~iraM ~ -~ir~r:~wi~rw~~e4w~t~~wd~ap~?afrw~w~l~s~~aid~in~nd~Ri~twwbdyR/•1~~wd~6eio~e~e•1MMilie~~rted~seid~ewn~w~ ~atJY.ar~~it6orL.aolr~oriP~+f~ic~~.woakair~ f}.i~~r~i~.fiowba~wwl~awi. • ~ L~, . WITNf55 my hand and official seal thi ~ ~ da~r pf ril -~t ,p,.,0.~~ f . • ~ ' ~ Not ry Public in and (w Sta~e-p ~ lori~ at ~srg~. My Commiuion e:pires: . • .S = . Return To: ~ ,7S ~4a ` ~ 1~ : v _ ~~3 ~ j y First Federal Savings 3 loan Association - ~ , . : . r = ~ i ~ ~ ~ ~ Of Fo~t P~crce. ~ : fort Pierce, Florida ~ . „ . . . ~ < , S t~T ~ ' This Instrument Prepared By J. H. RobeZts~ Jr. ~R~~~~ d~ First Federal Savings 8 Loan Association CIERt CIpOWt ~~T , of Fort Pierce , Florida ~ECOAO YE~~F;fO ~ Checked ey . ~ 8 ~ ~ •73 i 252,322 go~K ~13 PAGE 509 - - - _ _ _ _ . - - - .