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HomeMy WebLinkAbout0577 3. To plac~ •nd continuously keep a? tM b~i:d:ngi now w hero~itN ~i~wte on i~id I~nd end on alt equ~p~nen~ and penonally cove.ed by this ma~~ p~, with all premiums the~eon paid in full, fire insurance in ths u~ual standard policy fam, in • tum approved by tM MORTGAGEE, and winds~wm insur~nc~ i~ tM usual sundard polrcy fam, in ~ sum ~pproved by tM MORTGAGEE, in wch comp~ny o~ comp+nia as tM MORTGAGEE may directj u~d ~II fin ~nd windstorm iniurance policies on a~y oi said build~np~, ~ny in~er~s~ ~F+Kein or p+r~ thereol, i~ tM ay~re9a~~ wm afwesa'~d w In ~xcess ~hereof, shall conuin ths uiual ~tandard mor~ga9ee claus~ a iuch otha clau~ ~s ths Malqa~e~ may requu~, m~kinq tF+s lou unde~ sa~d potf das, each and evay, payable ro said MORTGAGEE as iti intereit may ~ppsar, ~nd each ar+d ~very s~ch policy ~hall be promptlY +?s 9^ed +^d del~vered ~o ~ny hsld by ssid MORTGAGEE ~s (urti?er tecurity to said matgage debt, s~d, nol leu tMn ten (10) days in advance o( tM expi~ation oi each pol~cy, to da liv~r to isid MORTGAGEE a renewal thereof. topeth~r with • raceipt fw the premium of such renewal; and lhere shall be cw fire a windsto~~n insurance pt~ced on any of said bvildings, ~~y interett therein or psrt thereof, unless in the form ~od with Ihe lou payable ~s afwesaid; and i~ 1he eve~t any sum of money becomes payable w+der such policy w polKies ssid MORIGAGEE shall have ths op~ion to receive and apply ths same on account of the indebted- neu secured hereby w?o permit sa~d MORTGAGORS to receive and use if or any part thereof fw o~hc? purposes, ~v~~ho~t th.~ru/ wai~i~y o~ u+~~ir- iny a~y equity, lien a right under or by virtve of Ihis morsyage; and in the event said MORTGAGORS thall fw any reason fail to kecp the said premisrs so insured, o~ fai) fo delivcr promptly sny of said policies of insurante to said MORTGAGEE, a fail promptly to pay fully ~ny premiu~n therefor or in any reapect tail to perfwm, discharge, exetute, effed, complete, comply with and abide by 1hi~ covenant, w sny pa~t hereof, said MORTGAGEE msy p~ace and pay fw such insurance or any parf thereof withouf waiving w affecfing any option, lien, equity, or tight unde~ o~ by virtue of this Matgage, and the ~ full amount of each and every such payment shall be immediately dus and payable and ihall bea~ interest from the date thereof until paid at the ~ate ot ~ nine per centum per annum and to~ether with s~ch interest shall be secured by the lien of this mortgsge. 1. To permit, commif or suffer no waste, impairment or deterioration oF said propcrty or any pa?t thereof. 5. To pay all and singutu the coats, charges ~nd expenses, including a reasonable attwney's fee and cosrs of abstracts of title, incurred w paid at any time by said MORiGAGfE, betause w in the event of the failure on the part of the said MORTGAGOR to duly, promptly and fu11y perfwm, d~xharge, execute, effect, complete, comply with and ab~de by sach and every the s::pulations, agreements, conditiona, and covenaros of ta~d prorniuory note and thi~ mwtgage any or eithe~, and sa~d costs, charges and expenses, esch and every, shall be immedistely due and payable; whether a not there ba not~ce dr mand, attempt to collM or suit pending; and the full amount of each and eve+y such payment sF~all bear interest f~om the date thereof until paid at the rate of nine per centum per am~u:n; arx! all said msts, charges and expenus i~turred or paid, logether with such interest, shall be secured by the lie~ of thii morfgagO. 6. That (a) in the evenf of any breach of this Mortgage or de(au11 on the part of the MORTGAGOR, o? (b) in the evenf any of satd sums of money herein referred to be not promptly and fully paid within thirty (30) days next after the same severatly lxcome due and payable, without demand or notice, or (c) in the event each and every the stipulations, sgreements, conditions and covenants of said promissory note and th~s mwtgage any or ei~her are nof iuly, promptly and fully performed, d~xharged, executed, eifected, completed, complied wifh and abided 5y, Ihen in either w any such evem the said ag- gregate sum rrKntaned in said promissory note then remaining unpaid, with interest accrued, and all moneys secured hereby, shall become due and pay- ab!e forthwith, a thereafter, at the option of said MORTGAGEE, as fully and completely as if all of the said sums of money were aginally sNpulated to be paid o~ such day, anything in said promissory note w in this Mortgage to the contrary notwithstanding; and thereupon or therea(ter at the option of sa~d MORTGAGEE, w~thout not~ce w demand, suit at law w in equity, 1lxrefwe w thereafter begun, may be prosecuted as if all mo~ys secured hereby had matured prlw to itt institution. 7. That in the event that at the beginning of or st any time pending sny suit upw~ this Mortgage, or to fweclose it, or to refwm it, or to enforce payme~t of any ctaims hereunder, said MORTGAGEE shatl apply to the Court having jurisd~ction thereof fw the appointment of a Receiver, such Cwrrt shall Forfhwith appoint a receiver of said mortgaged prope~ty all and singuls~, includmg all and singular the income, profits, iuues and revenues from whatever source derived, eath and every of whith, it being expreuty understood, is hereby mortgaged as if specifitally set fo~th and dewibed in Ihe g?anting a~d habendum clauses hereof, artd such Receiver shal~ have all the txoad and effcceive funu~ons and powert in anywise entrusted by a Court to a Receiver, and such appointment shall be made by such Court as an admitted equity and a matter of absolute right to said MORTGAGEE, and without reference to the adequsq a inadequacy of the value o4 the property mortgaged or to the sotvency or inso~vency of said MORTGAGOR o~ the defendants, and that such : rents, profih, income, issues and revenues shall be applied by such Receire~ accwding to the lien ar equity oi said MORTGAGEE and the practice of such Court. 8. To duly, 4rompt~y and iully perform, discharge, execute, effect, mmplete, comply with and abide by each and every the stipulations, sgrcements, conditions and covenanfs irt said prcmissory note and this mortgage set forth_ ~ 9. TF+at in tFi~event•the~ownership of the mortgaged premises, a any part thereof, becomes vested in s person othc? than the MORTGAGOR, the MORTGAGEE, its succeuors and ass~gns, may, withour notice to ?he MORTGAOR, deal with such successw or successor in interest with reference to this mortgage and the debt hereby secured in the same manner as with Mo~tgago? without in any way vit;ating or distha~gi~g tlx Mortgagori liability herr under w upon Ihe debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the part oi the MORTGAGEE a its successors or assigns and no extens7on of the time fw the payment of the debt hereby secured given by the MORTGAGEE or its successors or auigns, ahall operate to release, discharge, modify change or affect the orginal liability of tix MORTGAGOR herein, eitFKr in whole or i~ part. 10. It is specificalty agreed that time is of the essence of this contract and that no weiver of any obt~gat~on hereunder or of the obligation sr cured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of 1FK instrument secured herby. 11_ In add~tion to the forego:ng monthly payments of princ"pal and interest required by the promissory nore secured hereby, mortgagar tovenants and _grees to pay to mortgagee with each monthly payrnent an add~tional sum estimated by mortgagee to be equal to 1/12 of the an~ual tost of the follow- ing: A-All real property taxes levied or assessed agai~st the above described real estate. B-Premiums on fire and windsto~m insurar.ce as herein requ~red to be carried on the improveme~ts situate on the above described premises. C-Premiums on such mortgage g~aranty ir.surarce as mortgagee shall from rtme to time deem fit to carry on the ban secured hereby. Mortgagee shail from time to time notify mortgagor in writing of the amount dve and payable hereunde? and such sum shall thereupon be due and ~ payable on the due late of the next monthly payment and each svccessive month thereafter ur,til mort agee shal) notify mortgagor of a change in such ~ amount. Such sums shall be applied by mortgagee toward the payment of real property taxes, insura ce prem~ums, and mortgage guaranty insurance ~ ~ premiums_ IN WITNESS WHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day a year fi foresaid_ Sig Scaled nd ver in the e nce of: ~ ~ • ~ Seaq J n K. Holt ~a~ ne s s an { t, c;~ci blarian M. Holt ~~a~ i itness ~ STATE OF FLORI~A COUNTY OF v JuT~Xx~_n ~ ~ Before me personally appeared John K. HO 1 t e~ - Ma r i an H1. j-TO 1 t his wife, to me well known and known to me to be the individuals described in and who executed the forega instrument, and acknowledged befwe me that they executed the same for the purposes rherein expressed. And the :a~a Marian M. ~~Zt wife of the said John HOlt upon a separate and privats examination by me taken separate and apart from her said husband, ackrwwledged to aod before me that she executed wid instrument freely and volun- rarily and withovt any compulsan, constraint, apprehens~~or fear of a from her said husband. WITNESS my hand and official seal t}-.a f~ dsy of Ma A. D. 19 73 ~ - FILfO ANO RECORD ' ~ ST, ~UCIE COUMTY FIA. Notary P~bGc in end fw the State o Fbrids at large ~ My Commission expires: Return To: FiGG£n ~o~ra~s ~t?iGUIT COURT £ first Federal Savings d. loan Association CLERX ti.~_ ';:;ary Publi;, St•?~^ c+~ ~~cr~:~~ al larq¢ ~ ~f FOtt Pierce. - ,R~vOfv VEF -•c~.~'~ ~ ~a. i976 Fort Pierce, florida ~^?IGf:SStun ~FEY~ ; NJij`+ t MaY 16 3 osPl~'73 y_..~. . . 2S45'7 This Instrument Prepared By Richard K. Kayes ~ ~ ' • ~ ~ 5 First Federal Savings 8~ loan Association : ~ • `J/ . ~ ~ ~ of Fort Pierce , Florida _ ? . ~ ' ~ ~ ; f,` . Checked By = . ~ " _ : . 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