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HomeMy WebLinkAbout1450 3. To pl~ce and conlinuously keep on the bui!dings now or Mreaiter situ~ts on s~~d ~+nd and on a~l equipmenl and p~nonally covered by this mo•t~ ~g~, with ~II premiwns ~hereon pa~d in futl, f~re insurance in ~he usual s~a~dard po~Ky fam, in a sum approvad by ths MORtGAGEE, a~ul winds~o•m inwranc~ in tM uswl ~~andard pol~cy fam, in ~ ium app~oved by tM MORTGAGEE, i++ such company a companies as ~he MORTGAGEE m~y dir~cts ~nd all fire and wlndstorm insursnce pol~ciei on ~ny of ia~d build~np~, ~ny interesi th~rein o~ part thereof, in 1M ~9grt9ste sum afaes+id a• in ~xceu thereof, shall contaie ths vsual flanda~d mor~9apee claus~ a such oihs~ clauss as tF?~ Mort9aye~ may ~equue. m~?inp ths lou unde~ sa~d poli- cies, each u~d evNy, payable ro said MORTGAGEE ib interest may appea?. and each and ~very iuch po~icy shall be promptiy a~s gncd and de~~vered to ~ny held by said MORTGAGEE as (urther iaurity to said matgsge debt and, no1 leu than ten (10) dars in advance of ths expirat~on of e+ch policy, to da IivN to taid MORTGAGEE a re~ewal thereoi, toge~Fxr with a receipt (w the premium of iuch renewal; ~nd ~her~ thatl be no f~re o~ vcindsto~m insurance pl~ced on +ny of said building~, ~ny interest therein or part thereof, unles~ in the form and with Ihe loss payable ai aforesaid; and in the evenf any sw++ s of mon~y becomes payable under such polity a policisi said MORTGAGEE ihall have ths option to receive and +pply the u~ne on accouM of the indebted- ~ neu secured he?eby o~ to permit said MORTGAGORS to reteivs and uss it or any part thereof for othei pu~poses, withoot th:reb~ wai~ing o~ ~~~~pafr- iny any equiry, lie~ w righl under w by virtus of this mo:tgage; ~nd in the event said MORTGAGORS shall fa ~ny reason tail to keep the iaid premisrs so ! insured, o~ fall to deliver promptly any of said po~ities of i~surante to said MORTGAGEE, a fail promptly to pay iulty any premium therefw a in any respect fail to perfwm, d~scharge, execute, ef(ect, complete, comply wi~h and abide by this covenan?, w any part hereof, said MORTGAGEE may ptace and pay fw such insurance w a~y paH thereof witl+out waiving w afFecting any optioo, lien, equity, a right unde~ w by virtue of this Matga9e, and the • full amount of each and every such payment shalt be immediately due and payable snd ihall besr interest from the date thereof until paid at the rate of ~ nine per centum per annum and toge~her with such inlerest shall be secured by the lien of this mwtgage. , 1. To permit, commit or suffer no waste, impsirrtxnt w deteriwatio~ of ssid property or any part thereof. S. To pay all and sinyular the costs, charges snd eapensei, including a reasonable sttwney's fee and costs of abstrads of title, incur.ed or paid a1 any time by said MORTGAGEE, becavse oa in tF+e event of the failure on tF?e part of ~he said MORTGAGOR to duly, p~omptly and fully perform, d~uharge. execute, effecf, complete, comply with and ab;de by each ~nd every the stipulat~o~s, agreements. conditions. and covenann of said promisso?y note and this mwtg~ge any or ei~her, and said costs, chargea snd expe~ses, each and eve?y, shall be immediately dus and payable; whether or not there be notice . dr mand, attempt to mIIM or suit pend~ng; and the full amount of each and every wch payment ~hall bea? interes~ from the date thereof until paid at the ~au of ~ine per centum per annum; and all said costs, charges and expenses incurred or pa~d, together w~th such interest, ihall be seturetl by the tien of th~~ mortgage. 6. That (a) in the event of any breach of this Mortgage or default on the part of the MORTGAGOR, or (b) in the event any of said s~ms of money ~ herein referred 1o be not promptly and fully paid within thi.ty (30) daya next afte? the same severalty become due and payable, without demand or notice, ` or (c) in the event each and every the stiputations, agreements, conditions and covenants of sa~d promiswry note and th~s mortgage any w either are rr~l ~uly, promptly and fully perfwmed, d~uharged, executed, effected, completed, complied with and abided by, then in either or any s~ch event the sald ag gregate wm meMio~ed in said promissory note then remaining unpaid, with interest acuued, and all moneys secured heroby, shall become due a~ pay. able fwthwith, or thereafter, at the optio+? of said MORTGAGEE, as fully and completely as if all of the said sums of money were wiginelly sttpulsted ro be paid on such day, anything in sa;d promisso~y note w in this Mortgage to the contrary notwithstanding; and thereupon or thereafter at the option of sa~d MORTGAGEE, without notice or demand, wit aY law or in equity, tFxrcfwt w thereafte? begun, may be prosecuted as if all moneys setured hHeby had matured pnw to its institution. 7. That in the event that at fhe beginning of ar at any time pe~+dirg any suit upon this AAortgsge, a to fpeclose it, or to reiorm it, or to enfwce payment of any claims he~eurxler, said MORTGAGEE shall apply to the Court having jurisdiction thereof fw the appointmenl of a Receiver, such Court shall i Forthwith appoint s receiver of said moitgaged property all and singular, includ~ng all a~d singular thc income, profits, issues and revenves irom whatever 'r :ource derived, each and every of which, it being expressly understood, is hereby mo~tgaged af if speufically set fwth and described in tF?e granting and habendum clauses hereof, snd such Receiver shall have all the broad and effective funct~ons and powers in anywise entrusted by a Cou?1 to a Receive~, and :~ch appoiNme~t shall be made by such Court as an admitted equity and a rt+atter of abwlute right to said MORTGAGEE, and without reference to the adequaq o~ inadequaq of the value of the property morfgaged or to the sowency or insolyenty of said /yWRTGAGOR or the defendants, and that such rents, profib, income, •iuves and revenues sFwll be applied by such Receiver accwding to tFie lie~ or equiry o( said MORTGAGEE and the practice of such Court: 8. To dufy, promptly and fully per~wm, discharge, execute, effect, complete, comply with and abide by eath and every the stipulations, agreements, conditions and covenants in said promisswy note and this mortgage set fath. _ 9. That in th~ event the ownership of the mortgaged premises, or any part thereof, becomes vested in a perwn other fhan the MORTGAGOR, the MORTGAGEE, its successors and assigns, may, without notice to the MORiGAOR, deal with _ such successor or successor in interest with reference to this mortgage and the debt hereby secu:ed in the same manner as with Mo~tgagor w;thout in any way vitiating or dixharging the Mortgagori liability t?ero- under or upon the debt hereby sec~red. No sale of the premises hereby mortgaged and no forbearance on the part of the MORTGAGEE w its successo~s or assigns and no extension of the time fw the payment of the debt hereby sec~red given by the NIORTGAGEE or its successws,or auigns, shall operate ro release, dixharge, modify change or affecf the original liability of the MORTGAGOR herein, either in whole w in part. 10. tt is specifically agreed that time is o( the essence of this contrad and that no waiver of any obiigation hereurder or of the obligafan se- y c~red hereby shall at any time thereafter be held to be a waiver of the terms hereof or o( the instrument secured herby. ~ 11. In add~tion to the fwego:ng monthly payments of princ'pal and interest required by the promissory note secured hereby, mortgagor covenants # and agrees to pay to mortgagee with each monthly payrnent an add~rional sum estimated by mortgagee to be equal to 1 j 12 of the annual cost of the follow- ~ ing: ' ~ A-Alt real properry taxes levied or assessed against the above descri5ed real estate. ; 8-Premiums on fire and windatorm insurance as herei~ requ:red to be carried on the improveme~ts 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 ban secured hereby. Mwtgagee shall from time to time notify mortgagor i~ writing of the amount due and payaWe hereunder and such sum shall the~evpon be due and 3 F.ayable on the due date of ~he next monthly payment and each successive month thereafter ur.til mortgagee shall notify mortgagor of a change in such ? amount. Such sums sF.all be applied by mortgagee toward the payment of real property taxes, insurance prem:ums, and morigage guaranty insurance premiumt. i IN WITNESS WHEREOf, the wid MORTGAGOR has hereunto set his hand and seal the day snd irst Signed, Sealed and delivered in the prese~ce of: J - fi~Ep ~?Ma L~c~R0E0 / " a1) ~ , fT.IUC~E c3u~ r fL~. ~ ward . Doran ~ah aQ~~a ~n+iRAS itnes CIE~K °:-~~:t CoUpi ~ s~0 _ p~. ~r.::~:t ~ Seal) Wlt eSS : STATE OF]EOar~~c Penn~~sy~n cl 2j +L 35 ~M'73 ~ couNn oF E"L 2S5184 3 Before me personally sppeared Noward W 1]c~ran end ' )n~n j~ ~,r~n his wife, to me well kreown and k~own to me to be the individuals desuibed in and who executed the for oi ~nstrument, and acknowledged befae me that they executed the same fw the purposes ; therein expressed. And tn~ :a~~ Joan N~. ~oran - ~ rvife of the said Howard W. Doran upon a sepsrate and private examination by me taken separate and apart from her said husband, atknowledged to end before me that she executed said instrument freely and voturr j rariiy a~d w~thout any compulsion, constraint, apprehens~on or fesi of w from her said husband. ~ MARYANN SCULLEIf WITNESS my hand and official ceal this day of Ma ~ K A. D:'1973 E ~ ~ i ~L(/LG "7'7 ~ ; ~ ~ ' F ~ Notary Public-i~~ ~r~Fy~t~ of ' ~e • ; ~ ~ My Commiui~ ~r 1 p@ ~Tl'1a. n. ~ Return To: ' : ' ~ First Fedenl Savings a Loan Association . i: ' ~ _ Of Fo.~ P~erce. I'I912ry Publit. tientown iahnship. ~.1 f,e. ~ ~ Fort Pierce. Florida ~~iqmmission Expires FeDruary 14;. 19~~~~, t i~~'~ f j'` • ;s.: •\t~` ` . , ; ~ • y~ This Instrument Prepared By RiChdrd K. Kayes First Federal Savings & Loan Association of Fort~Pierce ~ Florida ~ Checked By . $Dqu~~ p~{. ~ , . - - - - - - s ~ ~ ~ h: +.rr~~,'~'~~.-~ ~ ~ _ ' _ .