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HomeMy WebLinkAbout1294 3. To piace and continuously keep on 1ha bui!d~ngs now o? herea(rer sttuate on said land and on al~ equipment snd personally covered by thi~ mortg- ` egs, wilh all p~emi~ms lhereon pa~d in full, !ire insurance i~ ~he uwal sundard policy form, in a svm appioved by ~he MORiGAGEE, a~d winds~orm # insura~ce in the usua) ~tanda~d pol~cy torm, in a aum approved by ~he MORTGAGEE, in tuch company or compan~es ss the MORTGAGEE may diredj and a11 fire and wiods~orm insuranco policies o~ any of said buildings, any interest the~ein or part thereoi, in the +ggrcyare tum ilaesaid or ; eaceu thereof, shall conraia rhs u~ual standard mor?gages clause w such other tl~~ts as Ihe Mortgagee may rcqu~re, makin~ ~he los~ undr? •a~d poli- cies, eath and every, payable to said MORIGAGEE ai its intere~t may appea?, and ea<h and eve~y sucA policy shall be promptly ass.gned and deiivered to any held by aaid MORTGAGEE as further tecurity to uid matgege dabt, and, not !eu than ten (10) days in sdvsnce of the expirat~on of each pol~ty, to de- I~ver to wid MORTGAGEE a renewal Ihereof, Io9~th~r wifh a receipl fw tFk premium of auch re~ewal; and there thall be ~ f~re or winds~o~m insurance t placed on sny oi said buildinyi. a~y interest therein ar part thereof, unlesa in the form ~nd with Ihs loa payabl~ as afo~esaid: ar+d i~ the event any sum ' of mor?sy b~cw»es payable under such polity or poticies taid MORTGAGEE shall havs ~he ophon ~o receive and app:y the same on account of the indabted~ ~ neis secured hereby w lo pe~mit said MORTGAGORS to receive and use i1 0~ any pa~l thercof for osher purposes, wiiho~t th_reb~ wai~+~y or u~~p~lr• { ing any equity, lien or right under or by virtue of this morcgage; and i~ the event u;d MORTGAGORS shall fw an reason fai) to ker ~he said j y p premises sU ~ insured, w fail ro drliver promptly any of said palicies of insur~nce to said MORTGAGEE, a fait promptly to pay fulty any premium therelor or in any respect fail to patam, d~scharge, executs, effect, complete, comply with and abida by this covenant, a sny pare hrraof, wid MORIGAGEE +nay place and s pay fw such insurance w any pa~t thereof withou~ waiving w affeclinp any option, lien, equity, or right unde? w by virtue of this Mwigage, and the ~ f~ll amovnt of each and svery svcA payment shall be immcdiately due and payable and ~hall bear iroereat from ~hs dat~ thereof untit paid at the ran ot n~ne ps? centum per annum a~d to~ether with avch inte~esr shall be secured by ths lien of thia mortgage. { i 1. Io peimil, commit a suffer no waste, impairment or deterioralion of uid property w a~y part thereof. ~ 5. To pay all and singular t1~e costs, charges and expenses, including a reasonable attwney's (ee and costs of abstracts o( title, incurred or paid at any time by sa~d MORTGAG:E, because or in the event of the failure on tix pa~t of the said MORTGAGOR to duty, p~omptly a~d fully perfo~m, d~scharge execute, etFect, comptere, comply w~th snd ab;de by each and every the stipulations, ag?eements, conditions, and covenants of sa~d promissory note and ~his mortgage sny w eithcv, and sa~d costs, cMrges and e:penses, cach and every, shall be immediatcly due and payable; whether w not there be not~ce da mand, ittempt to co(lect w suit pcnding; and the iull smount of each and every svch paymenl ~hall bea? emeresf from ths date thereof until paid a1 Ihe ~ ~.,re of nine per centum per an~~um; and all said coats, charges artd expenses incu~red or paid, logether w~th such interest, shall be setured by the lien of th:~ ~ mort9sge, ~ 6. That (a) in the event of any breach of thit Mortgage w default on the part of the MORTGAGOR, a(b) in the event sny of sa~d tums of mo~ey ~ herein refe~red to be not prompfly and futly paid within thirty (30) days next after the same uve?a11y become due and payable, without demand or notice, or (c) in the event each and every the stipulations, agreements, co~ditions a~d covenants of sa'~d promiuory note and th~s mor~gage any or eithe~ are nof , j ~uly, promprly and fully performed, d]xharged, exccuted, elfected, cornpleted, compl~ed with and ab~ded `ay, then in either p any such eveM the sald ag gregate wm mentioned in said promissory noee the~ remaining unpaid, with interest accrued, and all moneys secured hereby, shall become due and pey- able forthwith, w thereafter, at ~he option of sa~d MORTGAGEE, as fully and completely as i! aIl of fhe sa;d sums of money were wginally st~p~lated to be pa;d on auch day, anytb~ng in sa+d pran~ssory note or in this Mor~gage to the contrary notwithstandinq; and the~eupon a thereafter at the option of sa~d MORTGAGEE, without notice or demand, suit at law or in equity, therefwe u fhereafter beg~n, may be prosecuted as if sll moneys stcured hereby nad matu~ed pr~o~ lo its ins~itution. 7. That in the event that at the begi~ning of w ~t any time pending any suit upon this Mortgage, or to fweclose it, or to reform it, or to enfo~ce payment of any claims hereunder, uid MORTGAGEE shal~ apply to the Court having jurisdictio~ thereof fo~ the appoinfinent of a Receiver, such Court shall Furrhwith appoint a receiver of sa+d mortgaqed p~vpe~ty aI) and s;ngular, inct~d~ng all a~d aingular the income, profits, iuues and revenues irom whatever seurte daived, each and every of wh~ch, it being expressly unders~ood, is hereby mortgaged ai if s.ec~fica~ly xt fwth and desuibed in the yranting ar+d hsbendum tlauses hereof, and such Receiver shall have alt the broad and etfective funcr~ons and powers in anywise ent~usted by a Cour1 to a Receiver, and s.ch appointment shall be made by such Court as an admitted equity and a matter of absolute rigM to said MORTGAGEE, and without reference to the adequaq w inadequacy of the value of the property mortgaged or to the so:vency or insotvency of :aid MORTGAGOR w the defendanis, and rhat such renrs, profits, incorne, issues and revenues sha!! be app{ied by such Receive~ acc«d~ng to the lien or equity of said MORTGAGEE and the practice of such Courf. 8. To duly, promptly and fully perform, discharge, execute, effect, complete, comply with and ab~de by each and every the stipufations, agreements, conditions and covensnrs ~n sa~d p~omissory nore and this mortgage set forth. 9. That in the event rhe ownersh~p of the mortgaged premises, w any part thereof, becomes vesfed in a person other than the MORTGAGOR, the h'.ORTGAGEE, its successors and assigns, may, without notite to the MORTGAOR, deal with such successo? w s~ccessw in interest with referente to this mor~gMje and the debt hereby secured in the same manner as wirh Mo~tgagor without in any way vitiating or dixbarging tFK Mwtgagori liability hert ur.der pr upon the debt hereby secured. No sate of the premises hereby mortgrged and no {orbearance on the pan of the.MORTGAGEE or its successors or ass~gns and no extens~on of ~he time fw the payment of the debt hereby secuied given by the MORTGAGEE or its successors or au~gns, .hal1 operare to release, d~scharge, mud;fy change or affect the original liab+lity ef the MORiGAGOR herein, either in whole or i~ part. 10. It is spedficatly agreed thst time is of the essence of fhis contract and thst no waiver of any obligation hereurtder a of the obligaf'wn se- c~:ed hereby ahali at any time thereafter be held to be a waiver of the terms hereof or of the instrument secured herby. Il. In add~tio~ to the fwego'n~ monthiy payments of princ'pa~ and i~terest required by the promissory note secured hereby, mortgagor covenants a-:d agrees to pay to mortgagee vuith each monihiy payn:ent an add~rional sum est~ma~ed by mwtgagee to be equal to 1 j 12 of the annual tost of the follow- ;,3: A-AU real property taxes levied w assessed against the above descrihed real estate. B-P.emtuTS on fire and windstorm insurar.ce as here~n requ~red to be car~ied on the ;mproveme~ts s;tuate on tbe above d~scribed premises t-Vrem;ums on such mortg;ge guaranty insurar,ce as mortgagee shall f~o~*: time to time deem fit to carry on the loan secured hereby. Mwtgagee shail from time to time notify mortgagor in writ~~g of the amount due and payable hereunder and such sum shall thereupon be due and raiable on she due date of the next monthly payment and each svccessive month thereafter ur.tii mortgagee shaN rwtify rrqngago~ of a change en such ,~-•ount_ Such surris shatl be apptied by mortgagee toward the payment of real properry taxes, insurance prem:ums, and mortgage guaranty insurance p•emiums. IN \YITNESS WHERfOF, the said NtORTGAGOR ha: hereunto set his hand and seal the day a r first afae " Sigr~d, Sealed and delivered in the pr xnce of: ~ alj . _ (Ses4 i (Sea!) - Sea() i ST:+TE OF FLORIDA ~ ~ ~ouNnr oF _.5~.. Lucie Befwe me penonally appeared Claizde ~l . Hobh s, .T r, and - r~arQie T Hobbs his wife, to me well known and known to me to be ~ rhe indindvals deuribed in and who executed the fwegang instr~ment, and acknowledged befwe me that they executed the same fa the purposes ~ therein expressed. And the said_ ~~~rg7-e T. ~O~bS - P ~~fe of the uid Claude r~ . Hobbs, ,~2. opon a separate and privste exam;nation by me taken separate and apart from her said husband, acknowledged to and Ixfore me that she exetuted said instrumeM freely and voluo- ~ rar~ly and witFwut any computsion, constraint, appreherts~on, or f~ar of or fram he~ said husband. ~ WITNESS my hand and official seal thiL___~/~,T~' _ day of June A. D. 19 ~3 ~ Notary Poblic in ar~! for t Sfafe of florida at Large ; My Commiuion expires: Return To: - + First federal Savings d. Loan Assotiation . ~ ; Of Fort P:e:ce. ' RY PUBLtG, STR~t W FLURICA it LARGE } ~ Fo~t Pierce, Florida ~Y COk',MISSICN fX.PIRES IAN. 1977 ~ bonded By Art~r?caa Wnhets lusurape~ Ca : ;•?:'Msi . ,,,~r!! ' i `1 fi i This lnstrument Prepared By Richard K. Kayes ~11E0 t.~U ~~=CpRpEO € ~ First Federal Savings 8 loan Association St• RUG+E COUNTY F~A, t' _ •G•"j ~ ~ of Fort Pierce GC~': `UiraAS - = : , Fl~rida CIE~K <<- ~UiT COURT ~ v ~ ~ = ' ' Checked 8y ~1~• R~ "'1it? ~~c -.c'E~ :a ;.A ~t" ; ~ ~c ; ~UM I~ ~Z 22 ~H'73 y's ' E= , ~ o R 2 . ~ ~ 1-~~ . } BOOr 1~ Fa~~1292 STA~~~ y4 . 25'~Q11. ~•-r„«NN,~~~~t~' ~ = . _ - - ~ _ .