HomeMy WebLinkAbout0774 J. To plxe and conrinuously kcep on ihe bui!d~ngs now a herea(t~~ s~fu~te on ~a~d land and on all equip~nent and person+lly cove~ed by Ihis matg~
~ge, w~th all p~cm~ums ~hereon pa~d ~n fuil, I~re insurance in ~he ~sual ieandard polKy form, i~ • tum appraved by the MOR(GAGEE, and w~nds~o+m
iniuranc~ in tM usual ~rsnderd pot~cy form, in a ium approved by tM MORTGAGEE, in such company w companies as the MORiGAGEE m~y
du~ctr +~+d aU Gre and w~ndatorm in~urance polK~es o~ sny of ia~d buiid~nps, +ny inlereil therein or part thereof, in the a99.e9a~e wm aforesa~d w
in ~:cnf Ihereof, iFwll confain ~h~ uswl sranda~d mw~gage~ dause w such orher ctause ~s tha Mortyages may reqv'u~, makinp ~he loss unde~ ~a~d poli-
cisi, each and every, payable to said MORiGAGEE as its interei~ may appear, and eacA and every such poticy shall be promptly ass.gned and delivered to
+ny heW by said MORTGAGEE as (urther security to said mortgage debt, and, not feu ~Mn ten (10) days in advance o1 the expiration of each potKy, to dr
I~wr fo said MORTGAGEE a renewal ?hcreof, togerher with a receipt fw the premium of such renewal; and ~here shall be no f~re o~ wi~~dstor~n insurance
Placad on ~ny of iaid buildings, ~ny interctt there~n or part thereof, unleu i~ the form and with th~ loss payab~e ai atoreuid; and in the event any sum
of money bccpmes pa~able unda such policy p po~icies said MORTGAGEf sAall have the optio~ to receive snd apply Me tame on account of 1he indebted-
neu secured Fro~eby a to permit said MORTGAGORS ro reteive and use it o~ any parl thereof fo~ other purposzs, v.ithout th:r~o~ waiving or unpai~-
ing a~y eqv~ty, lien w right under w by virt~e of this mo:!~age; and in the event sa~d MORTGAGORS ihali iw any reason fail ~o keca ?he said premises so
~~sured, o~ (ail ro dtliver prpmptly iny of uid policies of i~surante to said MORiGAGEE, or fail promptly to pay fully any pr~m~um therefw w in any
resped fail b per(wm, d;scharge, execute, effect, complete, comply with and abide by this coveoant, or any part hareoi, said MORTGAGEE may ptace a~d
pay fa tuch insurance o~ any part ~hereof without weiving w affecting any optiort, 17en, eqvity, w righ~ under w by virtue of this Mo~tgage, a~d ~he
f~ll smovnt of each and every such payment shalt be immediately due and payable snd shall bear interesl from the_ date thereof un1i1 paid at the rate ol
~~~e per centum per annum and together with such interest shall be secured by the lien of this mortgage.
1. To permit, commil or suffer no wsste, impairment or deleriorarion of said property a any parf thereof.
5. To pay all and sirrgular the costs, charges and expenses, including a reasonable altorney a fee and costs of absnacts of title, incu~red a paid at
any time by said MORTGAGfE, because w in tFK event of the failure on Ihe part of the said MORTGAGOR to duly, prompNy and ful~y perform, d~xharge,
exzcute, etfecf, comptete, comply w~t6 and ab:de by each and every the stipulatcons, agreements, conditions, and covenants of sa~d prom~sso~y note and thi~ ;
mortgage +ny or einc~r, and u:d cos~s, charges and expenses, each and every, shall be immediately due and payabk; whether or not there be nofice da
mand, attempt to co11Kt pr suit pending; and the fult amount of each and every such payment shall bear interest from the date tAereof un1i1 paid at the
rare of nine per cenrum per annum; and al! said costs, charges and expenses incurred w paid, toge~her with such interest, shall be secured by the lien oi this
mortgaye. ,
6. Thst (a) in the event of any breach of this Mwtgage w default on the part of the MORTGAGOR, w(b) in the event any of w~d sums of money
herein refcrred to be not promptly and fully paid with'rn th+rty (30) days nex~ afte? fhe same severatly become due and payabte, wi~hout demand or notice,
o~ in ~he e•rent each and every the stipulations, agreements, cond~tions and covenants of sa~d promissory note and th~s mortgage any or either are not
iuly, promptly snd fully performed, d~scharged, executed, effected, compteted, compl~ed with and abided Sy, then in e+ther or any such event the said ag
gregate wm mentioned in said p?om;ssory note then rema;n7ng unpaid, with interest accrued, and all moneys secured hereby, ihall become due and pay-
able fwthwith, a thereafter, at the option oi aaid MORTGAGEE, as fully and completely as if all of the said s~ms of money were aiginstty ~t~putated
ro be pa~d on such day, anything in sa;d prom~ssory nofe w in th;s Mongage to the controry notwithstanding; and ~hereupon a thereafter at the optio~ of
sa;d MORTGAGEE, without notice w demand, iuit at law w in equity, therefo?e or thereaiter begun, may be prosecuted as if all moneys secured hereby
nad matured pnw to its instit~tion_
7. That in the event that at rhe beginning of or at a~y time pending any suit vpon this Mortgagc, or to fweclose it, or to reform it, o? to enforce
payment of any claims hereunder, said MORTGAGEE shall apply to the Court having jurisd~ct~on thereof iw the appo~ntment of a Receiver, such Coun shall
Forthwith appoint a receiver of said mortgaged property all and sirgvlar, inclvdmg atl and singutsr the income, profits, issues and revertues from whafever
source derived, each and eve~y of which, it being expressly understood, is hereby mortgaged as if specifically set fath and destribed in the granting and
habendum clauses F~ereof, and suth Receiver shall have all the broad and effecrive funct~ons and powers in anywise entrusted by a Court to a Receiver, and
soch appointment shali be made'by svch Court as an admened equity and a matter of absolute right to said MORTGAGEE, and without reference to the
adequacy or inadequacy of the value of the property mortgaged w to tlx sotvency or insolvency of said MORTGAGOR or the defe~da~ts, and that such
ren~s, profits, income, ~ssues and revenues shetl be applied.by such Receiver according to the tien or equity of said MORTGAGfE and the practite of such
CouA. .
8. To duty, promptly and fully perform, dixharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements,
cond~fions and covenants in said promissory note and this mortgage set forth.
9. Thsr ;n the event the ownenh+p of the mortgaged prc~m;ses, w any part tMe~eoi, becomes vested in a person other than the MORiGAGOR, the
MORTGAGEE, its iucceuas ae~d ass~gns, may, withouf notice to the MORTGAOR, deat with such succeuw or succeuor in interest with reference to thia
mo~tgage a~d the debt hereby secured in the same manner as with ?.brtgagw without in any way vitiati~g or dixharging the Nbngagors' liability hera
ur.der or upon the debt hereby secu~ed. No sale ol the premises hereby mortgaged and no forbearance on 1he part of the MORTGAGEE or its successors
or assigns and no exte~s~on of the time for the payment of the debt hereby sec~red given by the M~RTGAGEE or its succeasws or ass'~gns, ahall operate
io release, d~xharge, modify change or affect the original liabi7ity of the MORTGAGOR herein, either in whole w in part.
10. tt is spedfical7y aqreed that time is of the esxnce of fhis contract and that no waiver of any obligat~on hereunder w of the obligaYron se-
cured hereby shall at any lime thereaf~er be held to be a waiver of the terrris hereof w of the instrument secured herby.
11. In addnio~ to the fwego ng mom6ly payments of princ'pal and interesf required by the promissory nore secured hereby, mortgagor covenants
and agrees to pay to mo:tgagee w~th each monrh!y payrnent an add~rional sum esrimared by mortgagee to be equal to 1 j 12 of the annual cost of the follow-
ing:
A-All reai propeny taxes levied or assessed against the above desaibed real estate.
B-Pram~ums on fire and windsiorm insu.ance as herein requ:red to be carried on the imp~oveme~ts situate on 1F~e above described premises.
C-Premiums o~ such mortgage guaranty ir.surar~ce as morrgagee shall, from t~me to tirne deem fit to cany on tFie loan secured hereby.
Mortgagee shall from t~me to time notify mortyagor in writing of the amw;nt due and payable hereunder and such sum shalf thereupon'be due and
Fayable o~ the due date of the next monthly payment and each successive month thereafter ur.til mwtgagee shall notify mortgagor of a charge in such
e^,o~nt. Such s~ms sFa:i be applied by mortgagee toward .the payment of rea! property taxes, insurance prem:ums, and mortgage guaranty insurance
p~emium3. ~
IN Y~ITNESS YIHfREOF, tlre said MORTGAGOR has hereunto set his hand and seal the day and year first aforesaid. ~
~ Signed. Sealed and delivered in the presence ol:
i;
/ ~an
' H SO ' (Seaq
(Seal)
1 ' ' ~ ~ ~ ` ' £ RtltZl SOtO l5ca~
j
I
~ SiATE Of ftORIDA ~
` cour,rn oF St. I.ucie ~ ~
~ Jon oa a
Befwe me personally appeared .~O~IA H. $O=O
and
~ Ruth $Ot0 his wife, to me well known and known to me to be
j the individuafs described in and who executed the foregoing instrument, and acknowlodged befwe me that they executed the same for the purposes
; T rh ei expres~d.~ And the said ~tb $Ot0
; ~.ohnN.~o~
~~d~a H. $Ot0 , ~pon a sepa~ate and private
~ a,camination by me taRen separafe and apart from her said husband, atknowledged to and before me that she executed said instrument frgely and volun-
ra~ify and w~thovt any compulsion, constrainf, appr~~~ fear of or from her said husband.
WITNESS my hand and offic~al seal th~: day of A Yil ~ q_ p ~ 73
~ c_ Ge t
N iry Public in and for the State of ida st rge
' ~ Commiuion expires: %
E Retum Ta . ; ' ~ ^L . y 1 / f. •
First Federal Savirya a Loan Association NOTARY PUBLIC. STATEd~) • i
Of ~ort Pterce. 252~~~ - Q~'~j(.~R~~• N
MY CO!A6i1SS10fl'fJ(PIP~C~nrC -
' fort P~erce. Ftorida T. , ^ r • , ; '
E . ' . : . J ' 1
; fllEO ?N~ aECORDED - o : - _
ST.IUCIE COUMTY F~A. /7- Z y- 7s- . _ . : `j : .
.~y =r
; AOCtR ~OtTRAS " ' ' ' ~ ; -
i This Instrument Prepared By JObA W. Collins CLERK C~RCUIT COUAT •
First Federal Savin s& L an As PECOR~ Y~R1F1E0~~.
; g o sociation , '
~ of Fort Pierce ~ ~ • -
Florida ~ i~ 3 3? PM ~~3 1
Checked 8y ~
E ~ J S
- bOGr. ~1~ ~A.t,E ~ { J
i
~
- - - - -
` = ~
a*~ ~Z~~ ,~~4
~ ,