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HomeMy WebLinkAbout1219 3. To plac~ and conrinvou~ty keep on the bui:dings now or hereaf~e~ ~twt~ on tsid land and on ~II equipmeM u+d personally cove~ed by this ma~~ +p~, wilh all premium~ thereon paid i~ full. (irc insura~c~ the uiu+l standard pol~cy torm, in ~:um aPP.oved by the MORIGAGEE, and winds~am insu~s~n in ths vsual aundard pol~cy loam, in • sum ~p~xoved by ths MORTGAGEE, in such compar+y o~ compania as tM MORTGAGFE may diractt and all ti~~ and w~ndstorm insuront~ policiei a? any o( said bui?d~nps, eny I~t~rs~t 1M«in a part thersof, in tM ~pyrrpare tvm afor~said a in ~xeta thereof, sMll contain the uswl sta~dard mortyayee claute a ~uth ofhei clause u th~ Morty~yte may reqv~r~. ma?inp the loss unda sa~d po1F cies, each ~nd eve~y, p~yabls to iaid MORTGAGEE si it~ iMere~1 may ~ppear, ~nd each and every such policy ~hall be p~omptiy sis ~ned and daiivered to any held by said MORTGAGEE ss furiher security to said matpage debt, ~nd, not leus ~Mn ter? (10) dayt in adva~ce o( ths expiration of e+ch policy, to d~- livN fo wid MORTGAGEE s renewal ti~ereof, Iope~Mr with • reteipl fa the p~emium of ~vch renewal~ and the~e aMll be no fire ot windstorm insuranc~ plsted on ~~y of iaid buildings, ~ny intcreil therein or p~rl thereof, ~nleu in tF~t iorm ~nd with tM Iws payab(e at afaeiaidj ~~d in fh~ event any tum of money becornes payabfe ~nde~ :uch policy or polKie~ wid MORIGAGFE shall haw ths op~an to receive snd apply the iame on acco~nt of the indebted- nesa secured h~reby o~ ro permit said MORTGAGORS to reteivs.and use it w any parl thereof fa othcr purpoaes, without th:reb~ waivi~y or m~pair iny any pu~ty, lien or right under a by virtus of this mort9age; ~nd i~ the event iaid MQRiGAGORS sAa!! fw any reason fail to keep the s+td prem~ies w insured, o~ fall to dsliver promptly any of said policies of insurance to said MORTGAGEE, w fail promptty fo p+y fully any p~emium ttxrefor w in any rsspect tait to per(pm, discharge, e:ecute, etfect, tomplete, comply with and abide by thit covenant, p any part hareoi, iaid MORTGAGEE may plsce ~nd . pay (w such insu~ancs w any part thereof without waiving or affMinp ~ny optiart, lien, equity, or right under w by virtue of this Matgsge, ~ind 1F?e full amount of each and every such payment shall be imrnediately due and payabk and shall bear interesl from the date thereof ~ntil paid a~ the ~ate ot nine per cer?tum per annum and together with suth interest shali be :rcurtd by tMe lien of thi~ mo~tgage. ' 1. To permit, commit or sufter no was~e, impairment or dete+ioration of said property or a~y part thereof. S. To pay ali and tingvla? ths tosls, charges and expenses, inctuding a reaso~able atto~ney's fee a~d costs oi abstracts of tit~s, incurred or paid at any time by said MORTGAGEE, becaux or in the ev~nt of the failure on the pa~t of the said MORTGAGOR to duly, p~omptly and fully periorm, d~scherge. execute, effect, complNe, compty with and abide by each and every the ~tipulations, sgieements, ca?ditiona, and covenanri of ssid promissory note and this matgage any or either, and aa~d costs, chsrges and expenses, each and eve~y, ihall be immediately due and payable; whNher w not thero be notice d~ mand, attemp~ to collcct or suit pending; a~d the full amouM oi each and every such paymeM ihall besr inreresf from the date tl+ereof until paid at the rate oi nine per tenrum per annum; and atl said costs, charges and expenses incurred w paid, togethet with such interesl, thall be setured by the lis~ of this mortgags. 6. That (a) in the event of any breach of this Mwrgage w default on the part of the MORiGAGOR, or (b) in the event any of said swns of rtaney herein referred to be not prompfly and fully paid within thirty (3p) days nex~ after the same severally become due and payable, without demand o? notice, or (c) in the evcnt esch and every ~he stipulations, agreements, conditions and covenants ot sa~d promissory note and th~s mortga9e sny w either are no1 ~uly, promptly and fully performed, d~scharged, exccuted, effccted, completed, comptied wifh and ab;ded by, then in either or any such event the said ag gregate sum meN'qned in said promissory note then remainirg unpaid, with interest accrued, and a0 ~noneys sec~red he?eby, shall kxtome due and psy- able fwthwith, a thereaf~er, at t~e option of said MORiGAGEE, as f~lly and completely as el all of the said s~ms of money were a'ginally stipulated to be pald on svch day, anylhing in sald prom~s:wy note u in this Mwtgage to the contrary notwithstanding; and thereupon w thereafter at the opt:on of said MORTGAGEE, without nm~ce w demand, suit at law or in equity, therefore or thereaf~er begun, may be proxcuted as if all moneys secured f?e~eby had matured pnu to its institution. 7. That in the event that ar the beginn;ng of or at any time per?ding any suit upon this Nbrtgage, or to fweclose it, or to refwm it, or to enforce payment of any claims hereunder, said MORTGAGfE shal~ apply to the Court having jurisd~c~ion thereof for the appointment of a Receiver, such Court shatt Forthwith appoint a reteiver of said mortgaged property all and singular, includ~ng all and singular !he income, profits, isiues and revenues from whatever ' wurce derived, each and every of wh~ch, it being expressly u~der:tood, is hereby mortgaged ss if specifically set forth and d~xribed in. the granting and habendum clauses hereof, and such Receiver shall have all the b?oad and effective funct~ons and powers iA anywise.erltrvsted by a Court ta a Receiver, and :uch appointmertt shall be made by such Cou?t as an admitted equity and a malter of absolute r'ght.~.ta said MORTGAGEE, ~nd without reference to the adequaty or inadeqvacy of the wlue of the property mortgaged w to the wlvency or- insolventy of-;~id NWR7GAGOR or the defendants, and Ihat such renrs, profits, income, issves and revenues shall be apptied by such Receive~ accord'eng to the lien oF equly of iaid MORTGAGEE and the practice of such CouA. " - ' 8_ To duly, promptly and fully perform, discharge, execute, effect, mmplete, comply with and abide by each and every the stipulations, agreements, conditior.s and covcnants in said promissory note and this mortgage set ~orth. ' 9. That in the event the ownership of the mortgaged premises, os any pa?t thereof, betomes vested in a perwn other than the MORTGAGOR, the MORTGAGEE, its successws and au~gns, may, wifhout notice to the MORTGAOR, deal wifh such successor w successor in interest with reference to this morfgage and the debt hereby secured in the same manner as with Mortgagw without in any way vitiating Or discharging the Morrgagors' iiability herr under a upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the part of the MORTGAGEE or its sutceuors or augns and no exte~sfon of the time fa the paymeM of the debt hereby secured given by the AhORTGAGEE or its successors or au~gns, shall operate ro release, d~scha~ge, modify cAange or affect the original liab+liry ol the MORiGAGOR herein, either i~ whole or in part. 10. It is specifFcally agreed that time is of the essence of this contract and that no waiver of any obligation hereunder or of the obl'~gation sr cured hereby sAali at any time thereafter be held to be a waiver of the terms hereof w of the instrument secured herby. 11. In add~tion to the forego:ng monthSy paymants of princ'pal and interest required by the promissory nofe secured hereby, mortgagor covenants and agrees to pay to mortgaqee rvith each monthly payrnent an add~rional sum estimated"by mortgagee to be eqval to 1/12 of tiie annual cost of the follow- ~n9: A-All real property taxes levied or auessed against the above described real estate. B-Premiums on fire and windstorm insurance as herein requ;red to be carried on the improvements situate on the above described p?emises. C-Premiums on wch martgage gvaranty iresurance as mortgagee shall from time to time deem fit to carry on the loan secured hereby. Mortgagee shall from Iime to t~me notify mortgagor in v.rit~ng of the amount due and payable hereunder and such sum shatl thereupon be due and Fayable on the due date of the next moNh:y payment and each successive month thereafter uatil mortgagee shall notify mortgagor of a change in such anount. Such sums sha:! be applied by morrgagee toward the payment af real property taxes, insurance p:em:ums, a~id mo?tgage guaranty insurance premiums. _ IN WITNE55 WHEREOF, the said /~10RTGAGOR has hereunto set his hand and seal the day and year first aforesai , ~ Signed, Sealed and detiver d in the presence of: l ~ ~ ' an ~ } ~G~ ~ ~ ~ ' D 1 B Ward f ~ ' ' Gloria l. Ward : I - " STATE OF FLORIDA ~ ! COUNTY OF S't • '.11C1e ~ j eefwe me personally appeared Daniel B• Ward ~ Glar ia 1~ W1rd his wife, to me well known and known to me to be the individuals deuribed in and who executed the forego'ng instrument, and atknawledged before me that tbey executed the same for the purposea ~ therein expressed. And the said Gloria l• k~are~ ~ ~iFe of the said Daniel B, WaYC~ upon a separate and private ~ examinatio~ by me taken separate and apart from her said husband, atknowledged to and befwe rn~ tFwt she execvted said instrunxM freely and volurr I rarily and without any compuliwn, constraint, apprehe~ " fear of or from her said husband. ~ WITNESS my hand and official seal thi d o MaY `-L~ ~9 73 ~•,j ~ 's \ ~ ~ ± ~ Notary Public in and for t tate f' id t{aryd•, ; ' j My Commiuion expires: ' u,~ rd~: ~ Return To: . - t ~A~ ~ ~C•~ ,~~t~~ A ~tlNID~ aT IA~dE ~ Fint Federal Savings b loan Association MI' CQ~'.It~ SS10`r EXP I~ S~ C==~ ~ 9 7 5 ~ 'V91 - conded'Jhp G~r~l Iqfura ~ Of Fort P:erce. L U~Q r~~, I Fort Pie~ce. Florida ' ' ,F,, n : ~ ~ . !~~^~ai~/~~ 'Y' • ~ ~ ',.1~ i " ~ ~ ~f ~ . Z•~ ~ ''~~,.`'~~T~TE, rs~• ~ ~ f11E0 ANG ?;~C9R @ '~l.:iei1-,i~ -='~,r ; This Instrument Prepared By John W. Collins St.lUC1fi COU11Tlf ~1?• L ' Firsf Federal Savings & loan Association ROCE~t ?~~fA~g ~ s • of Fort Pierce Flc~ ida GtE~K CE~i=u~7 Couafi . ; ~ - FP~;1'rt? VrY.'=1ED..i $ Checked By ~ . i MAY 21 10 z~ AM'73 R J•- i 5 ~ go~K 2~.4 ~2~.8 ~ ~ : . . ~ _ ~ - - - ~ ,__e..~...