Loading...
HomeMy WebLinkAbout2383 3. To plx~ and co~tinuously keep on 1M b~ildin9s now w hereaft~r ~i~uat~ on said land and on alt equipment ~nd penonsily covered by thit mortq~ •ge, with all premiurrq thereon pa~d in full, (ire i~sv~ance i~ tM v~ual standird poiicy form, (n a sum ~pprovad by tM MORTGAGEE, and wind~twm insu~u~c~ in th~ ~swl ~tandard policy fonA, in a ~um ~pproved by ~he MORTGAGEE, in wch comp+ny w canpa^i~s ~i ~M MORTGAGEE may dir~ctp u~d ~II fir~ and winditorm iniuru+ce polichi on any of said build~rp~, any int~~~~t tiwr~in or pan thereof. in ths py~ey+q ~~m afaesa~d a In ~xcess ~F~ereo/, shall contain tM usual standard mo+t9~9e~ cl~uH w such other cis~~ a~ tM Mat~ag~a may reqwr~, makinp ~hs toss unJer sa~d poli~ ~ cies, each and erery, payabi~ ro iaid MORTGAGEE as its intereit may appea?, ~nd each and eve~y such policy ~MII be promplly +~i:gned and de~ivered ~o • any held by said MORTGAGEE as funher security to said mort~age debt, and, not ku th~n te~ (10) d~ys in advance of the expiratia? of e+cA policy, to da 1 IivK to s~id MORTGAGEE a renew~l therwf, fo~e~hN with a rete~pl fo? tM p~emium of such ~a+ewal; and ther~ ~MII be no fue w winds~o~m insurarx~ plsctd on ~ny of iaid b~ildinps, ~ny inter~it therein a p~rt the~eof, ~nleu in tF~ fam ~nd with tM loss payabt~ as afa~iaid; snd in tM event any sum of money becom~s payable unde~ such polity or policies taid MORTGAGEE shall Mve tM option to receive snd apply tM s+me on +ccwrro of ~M indebted- ness secured hereby a ro permit iaid MORTGAGORS to receive ~nd use tf a any part thereof for other pu~poses, wi~hout thereb~ waiving o~ unpair- irq any equity, lia~ a righl under or by virtw of this mo:tya9e; ~nd in Ihs went ssid HIWRTGAGORS shall fw any reason fail to keep the ssid p~emi:as so . insured, w fail ro deliver promptly any of said policies o( lnwrance to uid MORTGAGEE, w iail promptly to pay fully sny premium therefw p in any _ respect fail to psrForm, dixhargs, executs, effecl, compkta, comply with and ab~ds by this covenu?t, or a~y part hereof, ssid MORTGAGEE may place and pay fw such inw~ance or ~ny paA thereof without waiving a affactinp any option, IE~n, puity, a right vnder or by virtue of this Mortga~e, ~nd tM 1 full amount of each u~d evsry s~ch paymem shall be immediately dw and p~yabl~ ~~d shall besr interest fram tFa date thereof un~il paid at tM ~ate ot nine pe~ centum pe~ annum snd together with such intaest ihall be iecured by tM lien of this mortysge. 1. To permN, commit w suffer no waste, impairmeM w dete?ioratio~ of said prope.ry or aey p+r1 thereof. 5. To pay atl snd singular tM cwtt, cF?arges and expenses, includiny a ressonable atto~~ey's fee and costs of abstraNs of title, incurred o~ pa~d at ~ any time by said MORTGAGfE, because w in the event of the fsilure on the part of the said MORTGAGOR ta duly, promptly snd fully perfwm, diuharge. execute, effect, canplete, comply with and abide by esch and every the stipulations, agreemenn, conditions, a~d eovenants of said promissory note and this mortyage ~ny w either, and sa~d costs, chug~s and expenses, each and every, shall be immediatety due and payabfe: whether w not rhere be notice de ~ mand, attempt 1o collect or suit pending; and the full amo~nt of e~ch a~d avery suth paymem sAall bear inferest from the date thereof unlil paid at the rate of nine per centum per annum; a~d all said costs, charqes and expenses intvrred or paid, together with such interesf, sMtl be setured by the lien of this ~ mo+tyaye. f b. Thst (s) in the event of eny Fxeach of this Mortgsge or default on tM part of the MORTGAGOR, w(b) i~ the event eny of said :ums of money fierein refe~red to be not promptly and fully paid within thirty (30) days ne:t after the same severally become due and payable, withovt demand o? notice, or (rJ in the event each snd every the stipulations, agreemeNS, conditions and covenants of sa~d promiuory oote and th~s mortpsge any a either are not iuly, prompt{y and fully pe?formed, d~scharged, executed, effected, completed, complied with and abided by, then in e~ther o~ sny such event the said ag- gregate wm meroioned in said promissory note the~ remaining unpaid, with interest xcrued, and all moneys secured htreby, shall become due and pay- able forthwith, a tlxresfte?, at the option of said MORTGAGEE, as tully and completely es if all of ~he said sums of money were aiginally stipulated ro be paid oo s~ch day, anything in said promiuory note o~ in this Mortgage to tFrc contrary notwithsta~ding; and thera?pon or thereafter at the op~ion of said MORTGAGEE, without notice or demand, suif at law or in equity, therefore or thereafte~ begun, may be proseculed as if ~II mw~eys secured Ixreby had maturod prior to its institution. - 7. ihst in fhe event thaf at the beginning of w at any time pending any wit upon this Mortgage, o~ to fweclose it, or to reform it, w fo cnforce i paymcnt of any claims herevnder, said MORTGAGEE shall apply to the Court havi~g jurisdidion the~eof fw the appointment of s Receiver, suth Court shall forthwith appoi~t a receiver of said mwtgaged property atl and singular, includ~ng a~l and singular the income, profits, iuues ~nd revenues from whatever source derived, each and every of which, it being expressly u~den~ood, is hereby mwtgaged as if specifically set fath and described in the granting and habendum clau~es Aereof, and such Receiver shall have all the txoad a~d effective funct~ons and powers in anywise entrusted by a Court to a Receiver, and such appointment shall be made by such Court as an admitted equity aod a matter of absolute right fo ssid N10RTGAGEE, snd without reference to the adequacy o~ inadequacy ot the value of the p~operty mortgaged or to the wtvency or insolvency of said MORTGAGOR ~a the defendants, and that such rents, profits, income, iuues and revenues shall be applied 6y such Receiver accordiny to the lien w equity of said MORTGAGEE and the pradice of such CouA. 8. To d~ly, promptly and fully perfo~m, dixharge, execute, effcct, complete, comply with and abide by each and every the stipulations, agreements, conditions and covenams In w~d promissory note and Ihis mortgage set forth. ! 9. That in the eveM the ownership of the mottgsged premises, or any pa?t thereof, becomes vested in e person other than the MORTGAGOR, the MORTGAGEE, its successors and auigns, may, without notice to the MORTGAOR, deal with such successor' w successor in interest with re:erence to this mortgsge and the debt hereby secured in the same manner ss with AM1ortgagor without in any way vitiatu?g or discharging the Morfgagon' (iability F?rrt { under w upon the debt hereby secured_ No sale of the premises hereby mortgaged and no forbearance on tFx pan of Ihe MORTGAGEE w its successws or assgns and no extension of the time for the payment of the debt hereby secured given by 1he MORTGAGEE or its uxceuors or ass~gns, ?hall operate ro rolease, discharge, modify change or affect the orginal liability of the MORTGAGOR fierein, either in whok or in put. 10. It is specifically agreed that time is of the esse~+ce of this contrad and that no waiver of any obligation hereunder or of the obligaYwn se- cured hereby shall af any tinK thereafter be held to be a waiver of the terms hereof or of the instrument secured herby. • 11. In add~tion to the forego:ng monthly payments of princ'pal and interest required by the prom„sory note secured hereby, mortgagor covenants and agrees to pay to moctgagee with each monthly payment an addi~ional sum estimated by mortgagee to be equal to 1/12 of the annual cost of the follow- ing: , A-All real property taxes levied or assessed against the above described rea! estate. ~ B-Premiums on fire and windstorm insurance as herein requ~red to be carried on the improveme~ts situate on tfie above described prcmises. ~ C-Premiums on such mortgage gvaranty insurar,ce as mortgagee shall from time to time deem fit to carry on the bao secured hereby. ; Mortgagee :hall from time to ~ime no~ify mortgagor i~ writing of the amount due a~d payable hereunder and such wm shali thereupon be due and ~ Fayable on the due date of the next monthiy paymmt and each successive month thereafter urtil mwtgagee shall notify mortgagor of a change in s~ch amount. Such sums shall be app!ied by mortgagee toward the payment of real property taxes, insurance prem.ums, and mortgage guaranfy insurance premiurtts. ~ IN WITNE55 WHEREOf, the said MORTGAGOR has hereunto set his hand and seal the day and year first aforesaid. I igned, ealed a d delivered in the resence of: . y ~ ~ f{LfD ~M[ a~c~~0E0 i • ST.lUC1L ~~v!!TY FLA- n , flOGl~ i ;:;'RAS ~ aq ~ _ ClE*r, C.:~.~Uti GOURt ~ SeaD pc~~~.-, Yf.k~-;i C ~n f• j STATE OF fLORI~A , ' V~3 ~H ~ J couNn oF 255'743 ' 1 Before me penonslly appeared James R. King a~ ~ Bettv J. Kinc~ his wife, to me well known snd krawn fo me to be the individusls desuibed in and who executed the faegoing instrvment, and aclcnowledged befwe me that they exetuted "the same fw the purposes therein exprcssed. And the said ~ttY .J. Kinq Jdmes R. Klrig ~ ~ate wife of the wid upon s sepataTi~d ~r examination by me taken separate and apart from her said husband, atkrawledged to and before me that sF?e exetuted said imtr~xrMAt,~frK ~itOlurr rarily and without any compulsan, constraiM, spprehension or fear of or from her ' lwsband. J~`, Y ` WlTNESS my hand and official seal thi~ day of • .~•••••$•B~sl~y~ ; - ' - - = . ~I - . . :a Notary Public m and for t turof fiarid ai.~4rys _ ' s ~ My Commiuan expires: . • ' j ' ; _ ~ Return To: '.J ' ; ~ ~ ~ ~ ` ' ' + .s . ~~'i' First Federal Savings 3 Loan Assotiation . n . - ~ , InTA~ NiBIIC SiAiE Of~v^, ,~:j~R~c f.=,.; - ~ Of Fort P;erce. ~ ~MlSSION EXPIRES, ~.xs ~;ss~.~ - • • i . Fart Pie:ce. F:cr:da ~IIQfD TfNiU FRED YP 'Q~~^~~'~.-' ~ ~ - N ; s This Instrument Prepared By Richard K. Kayes 4 First Federal Savings & Loan Association of Fort Pierce , Floridd Checked By ~ . ~ 80 ~ 214 2~38? ~ ~ r;~x ~ ~ ~y~: ~ , ~ ~ h _ _ _ _ _ . _ _ _ _ _ ' '~Cr ~ " ^~,7' wFr.<. . .