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HomeMy WebLinkAbout1631 ~ ' ~ i s To plac~ and continvously ke~p on th~ bui:dinp~ now o~ Mreaft~r situaq on t~id lu+d and on +11 eqvipme~l and p~nonally towred by Ihi~ mat¢ ~ p~, with all premium~ thereon p~~d in ful~, fi~~ insuranct in ~M usual standard policy fam, in a ium approvtd by ~he MORiGAGEE, and wind~twm insuranc~ in tl+~ usual s~andard pol~cy fam, in • sum approv~d by tM MORTGAGEE, in wcA company w companies ' as th~ MORTGAGEE may directj ~nd •II iir~ u~d windstam insurance policies on any of iaid buildinp~, ~ny IntKtst d+K~in a part thsreoi, in th~ a~~e9~~e sum afwtuid or I In ~xcess thereoi, ihall contain fh~ ~iwl stand~rd mu?yape~ claust o~ such o~Mr cl~us~ u tM Mwt9ape~ may requu~. m+kirq ~M Iou under sa~d po1F ! ciss, each and every, payabte a said MORTGAGEE as ~ti iroerest may appear, +~d e~ch and wery s~ch policy shatl be p.omptly au:~ned and dstivered to ~ny held by said MORiGAGEE u fur~her securiry to said mortpage debt, and, nof less tMn ten (10) d~ys in advance of tM ~xpiration of e~ch policy, to dr liver to wid MORTGAGEE a renaw+l therwf, tope~her wifh a receipt for ~he pr~mium o( iuch renewslj and ~here ~hall bt no f~ro o? windstorm inwranc~ pl~ced on ~ny of iaid buiid~~?ps, any interest therein a p+rt tF?~reof, unl~ss in tM form and with tlw lou pay+bl~ u afa~said; +nd in tM event any ium of mw~ey becomes payable unde~ such policy or policies said MORTGAGEE shall Mw tM optio~ to receive ar+d apply the s+i*+e a+ accou~t of the indebted- ~ess secured hereby a ro permit sa~d MORTGAGORS to receive and vs~ it a any part .lhereof fa o2her purpoaes, w~~ho~t th~rcb~ wai~in9 or ~mpai.- ing a~y equiry, lien w rght unde~ w by virtw of this mort9~ge; +nd G? IM went wid MORTGAGORS shsll fo~ any. reason isil to keep the said premises so insured, p fail ro delive~ promp~ly a~y of said policies of insurarxe to said MORTGAGEE, o~ fail promptly to pay fully any premium tFxrefo~ a in a~y rospect fail ~o perforny discharge, execute, effect, complete, comply with u?d ~bids by this covenaM, or ~ny parl hereof, said MORTGAGEE i++ay p~+ce and j psY fa ivch ir~urance w a~y p+h tF+ereof withart waiving or affectinp an~ option. li~n, equiy, a right unda o~ by virtue of this Mo+tgage, and tF+c ~ fu11 amount of esch and every such payment sMll be imrt~cdiately due and pay+bk and shall bear interest from the date thereof w~~il paid al the rate oi t nine per centum per annum and togeiher with tuch interest shall be secured by the lien of lhis mort9age. ~ 1. To permit, tommit or suf(er no waste, impairment w deteraration of said properfy a any part tht~eof. ' ~ 5. To pay all and singular the cost~, charges and expenus, inctudiny a reasonable attwney i fee and costs of abatrads of title, incurred a paid st F any time by said MORTGAGfE, becavu w in the event of the failure on the part of the taid MORTGAGOR ~o duly, promptly snd fully pertwm, d~scharge. axecute, effect, comptete, comply w~th and abide by esch and every tF?e stipulations, agreements, cond~tions. +nd cove~ann of said promisswy note and thii mwtgage ~ny or either, and sa~d costs. chsrges and expenua. each and every. shall be immediately due and p~yable: whether a not there be notice de mand, attem~t to m11M or suit pendingp and the full artauM of esch and eve~y such payment tlwll bea~ iNerest from the date thereof until paid at the rate of nine per centum per annum; and alt said costs, charges and expenus inc~rred or paid, togethar with suth interest, shall be setured by the lisn of this morfgags. 6. That (a) in the everit of sny breach of this Mwtgage or defaul~ on the part of the MORTGAGOR, or (b) in the event any ot sa~d tums of mooey herein refe?red to be not p~ort~ptly ai~d fvlly paid within thirty (30) days next afte~ the same uverally become due and payable, withovl demand or noYice, or (c) in the event each snd every the stipulations, agreements, conditions and covenants of sa~d promiuory note and this mortgage any w eithtr are nol iuly, promptly ar+d (ully performed, d~uharged, ezetuted, effMed, completed, complied wi~h and abided Sy, then in e~thcr or any svch event the ssid ag : gregate wm mentioned in said p~omissory note the~ remaining unpaid, witA interest acuued, and all moneys secured hcreby, shall become due and pay- able forthwith, w thereafte?, at the option of said MORTGAGEE, as fully and completely as if sll of the said sums of money were wgina~~y st~pulated to be paid on such day, anything in said promiuory note o~ in th7s Mortgage to the contrary notwithstaoding; and thereupon or tFxreafter at the option of said MORTGAGEE, without notice w demand, suit af law or in equity, lhertFore or thereaiter begun, may be pros~cuted as if all moneys secured hereby had matured prior to iri institution. ~ _ ~ 7. That in ths event that at the beginning of or at any time pending any suit upon this Mortgage, w to foreclose it, w to refwm it, or to enfwce payment of any claims hereunder, said MORTGA6EE shall apply ro the Court having jurisd~ction thereof fw the appantment of a Receive~, such Court shall } forthwith appoiM s receive~ of said mortgaged property all snd singular, includ~ng alI and singular the income, profits, iuues and revenues from whatever j source derived, each and every of whKh, it beirg expressly understood, is hereby mortgaged as if specificatty set fath and dewibed in the g~anting and ~ habendum clauus hereof, and such Receiver shall hare all the broad and effective fund~ons and powers in anywise entrusted by a Court to a Reteiver, and :~ch appointment shall be made by such Court as an admitted equity and a matter of absolute rigAt b said MORTGAGEE, snd without reference to the adequacy or insdeqwcy of the value of the properq mortgaged or to the sowency or insolvency of said 1NORTGAGOR or the defendants, and that such rents, profin, income, iuues and revenues sF~all be applied by such Receiver accwding to the lien or equity of said MORiGAGEE a~d the practice of such Court. t 8. To dul rom tl snd full form, d'nchsr execute, effect, co lete, com 1 with and abide b each and eve fhe sti lations, reements, _ Y. P P Y Y P~ 9~• ^~P P Y Y ~Y P~ a9 conditions arid covenants in sa~d promissory note and this mortgage set forth. { 9. That i~ the event the ownership of the moAgaged premius, or any parY 1F~ereof, becomes vested in a person other than the MORTGAGOR, the MORTGAGEE, its succeuors and asstgns, may, without notice to the MORTGAOR, deal with such successor or successw in interest with reference to this ; mortgage and the debt hereby secured in the same manner as with Mortgagor without in any way vitiating or dischargirg the Mortgagors' liability here- r under or upon the debl here~y secured. No sale of the premises hereby mo~tgaged and no forbeara~ce on the pan of 1he MORTGAGEE o? its successon or a:signs and no extension of tlx time for the payment of the debt hereby secured given by the MORTGAGEE or its successws o? auigns, shall operate i Io releax, d~scharge, rtwdify change or affect the original liability of the MORiGAGOR herein, either in whok w in psrt. t 10. It is spec~ficaliy agreed that time is of the essence of this contract and that no wsiver of any obligaYron hereunder a of the obligation sr cured hereby shall at any time tAereafter be held to be a waiver of the terms hereof w of the instrume~t secured herby. 11. In additio~ to the fwego:ng monthly payments of princ'pal and interest required by the promissory nore secured hereby, morigagor covenants and agrees to pay to mortgagee with each monthly payment an add~rional sum est~mated by mort~agee to be equal to 1/12 of the annual cost of the follow- ing: A-All real property taxrs levied or assessed against the above described real estate. B-Premiums on (~re and windstorm insurance as herein requ~red to be carried on the improvements situate on the above described premises. C-Premiums on such mortgage guaranty insurar~ce as mortgagee shall from time to time deem fit to carry on the loan secured hereby. Mortgagee shail from time to time notify mortgagor in writing of the amount due and payable hereunder and such sum shall thereupon be due and payable on the due date of ~he next monthly payment and each successive month thereafter urtil mortgagee shall notify mortgagor of a change in such amount. Such sums shall be applied by mwtgagee toward the payme~t of real property taxes, insurance prem,ums, and mwtgage guaranty insurance E premiumt_ j IN WITNE55 WHEREOF, the said MORTGAGOR has hereunto set his hand and sea! the day and year first afwewid. • ~ ' ned, Sealed and d've in the presence of: ~ ~ ~ ~ 83 ~ , (Sea4 -3-t~ c, ,c~..~~ a~ ~trIIA88 I ' r5es4 57ATE OF fIORIDA COUNTY OF Str• I~lC~9 ~ ~ I ; Before me personally appeared D ~Aid end 3 ,..n~rt-~~ ' ~ ~e g. ~19id his wife, to me well k~+oyvn~sn~k)+o~~~{o ene to be the individuals described in and who executed the foregoing instrument, and scknowtedged before me tlwt they execiit~~hp-sart~n,for tFib~pvrposes lherein expresud. Md the ssid ~!'T~B g. RA~ - S wife of the said D. Reid upo~ a scparpte•.swd "yriv~fe ; ~xaminaYw~ by me taken separate and apan from her said husband, acknowledged ro and before me that she execv{ed_sDid j~psxumsni freCly_and~volw~- ~ rarily and withovt any compulsiw~, constraint, apprehension, or fear of or from her said Fwsband. ' = WITNESS my hand and official seal this day of ' = -/4 D 1Q T3 ~ ' _ " ~ ~ Notary Public in and fw the Sfs{q~ ~ i~n ~t rqe ~ ' My Commiuion e:pires: ~ Return To: • t First Federal Savings 3 Loan /lssociation ~ Of Fort P~erce. NOTARY PUBUC, STATE o/ FLORIDA ~t ~':=rE ? ~ wr ca~~iss~oM o~aes s~r. 2s, ~9is Fort Pierce, Florida ~ BOfldld Br ArtleljC~ ~~YfiR:t ~ . fILEO ~Na REGpR e ~ This Instrument Prepared ByJ.A. RObelEs~ Jr. sT ROCERCFOiTR~~~ First Federal Savings & loan Association CLERK CIdCU1T COURT of Fort Pierces F102'1d8 RECORD VfR1FIE0~.~~. ~ ' Ant 30 -10 zi AI!'T3 Checked By $~2~3 ~i6~'.9 _ - - - - - . _ _ . .