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HomeMy WebLinkAbout1298 3. To placs and continuously keep o~ the bu~!d~ngs now w herea(ter s~tuat~ on said land and on all equ~pment and perso~ally tove~ed by this mortg- ~ge, v~ith a~l premium~ thereon pa+d in fuU, t~re insu~ance ~n the usual seanderd poGq (orm, in a sum approved by the MORIGAGEE, snd w~ndstwm insur~oce in ths usual •eandard pol:cy form, in a sum approvrd by ~M MORTGAGEE, i~ luch company or compan~es as Ihe MORTGAGEE may directt ~nd al) fl~e and w~nd~lorm insu~ance policies o~ any of said build~nps, any intereat the~ein or part thereol, in 1he aqgreyaee sum aforesaid or • in ~xtess ~hereof, ~hell contain the usuai sta~a~d mortgaqas dauss or such oiher clsuse as the Mortgagee may requ~rs, making the Iws unde~ sa~d poli- cies, esch and avery. p~yable to iaid A10RTGAGEE ~s ~1s in~erest may appear, •nd e~ch and eve~y such policy shall be promptly •is 9ned and de~iva~rd ~o ~ny held by uid MORTGAGEE as (urther iecuiity to said mortyage debt, and, not tess rhan ten (10) day fn advance of the expiral:on of each policy, to da ~~Yer to said MORTGAGfE a re~rwal thcreof, ~ogerher wi~h a receipt for the premium of such renewal; and there shall be no f~re or wi~ds~o~m inaurance pl~cad on any of said buildings, any intereft therein a part thereoi, ~~tess in the torm and with ~he lou payable as afwesaid; and I~ the event any svm of rtw~ey becomes payable under such policy p policiei said MORTGAGEE shall Fwve Ihe option to receive and apply the sa~»e on account of the indabted- neis secured F?ereby o~ ro permit sa~d MORiGAGORS ro recaive and use it p any pa~t thereoi lor other µu~poses, v.~~ho~t ~h:r~b~ wa~v~:~~ or unpair ir~ any equ7ty, lien w r~ght under or by virtue of ~his mo:tyage; and in the avenr sa~d MORTGAGORS shall for any reason fail to keep the said {uem~srs so insv~ed, a(ail to deliver prpnptly any o( said policies of insurante to said MORTGAGEE, or (ail promptly to pay fully any premium thcretor w in a~y re~pect fail tp pe~form, discharge, execute, effect, complete, comply with and ~bide by this tover+anl, q any pert hereof, said MORTGAGFE may place a~~d pay for tvch insurance or any part thereof w~~hout wsiving w•ffecting any optia?, lien, eqvity, or r~gh~ under or by virtue of this Mongage, and the f~ll amount of each and every such paynxnt shall be i~uned~etely due and payable snd ahall bear interest from the date thereof u~til paid at the rate of nine pe~ te+~tum pe? annum and to~ether with such interest shali tx secured by fhe l+ert oi fhis mongage. 1. To permit, commit o? suffer no waste, impairment or dele?)oretion of said property or any part thereof. 5. To pay all and singvla? the cosls, charges and expenses, ~ncluding a reasonable attorney's (ee and cos~s of abstracts of title, incurred w psid at any time by snid lNORiGAGfE, because or in the even~ of the (ailure o~ tha part of the said MORTGAGOR lo duly, promptly and fully perfwm, d~scha~ge execute, effec/, tomptete, compty w(ih and ab:de by each and every thr ~tipulatlons, agreement~, condi~ions, and covenanrs of said promisswy note and ~his morigage any or either, and taid costs, charges and expenses, each and every, shall be imrAediately . due and payabte; whether w not there be notice de mand, attempt to co~IM or suit pending; and the full amount of each and every such payment thaN bea~ interest from the date thereof until psid at the rate of ~ine per centum per annum; and all aaid cosn, cherges and expenua incurred or paid, together wlth such interest, shall be secured by ti~e lieo of fhis mortgage. 6. That (a) in the event of any breach of this Nbrtgage or default on the part of the MORTGAGOR, or (b) in thr event any ot said sums of money herein ~efcrred to be nof prompfly and f~lly paid within thirty (30) days neaf after ihe same severatly become due and payable, without demand or notite. or (c) in the event eath and every the stipulations, agrcements, conditions and covcnants of sa:d promiuwy noTe and th~s mwtgage any w either are not ~~ly, promptly and fully oerfamed, d~scharged, executed, eifecred, completed, complied with and abided `ay, then in e~iher or any such event the said ag- gregaee wm mentioned in said p~omissory note Ihen remaining unpaid, with interesf xcrued, and a11 moneys secured hereby, shall betome due a~d pay- able forthwith, er thereafter, at ~he option of said MORTGAGEE, as f~l(y and comple~ety as if all of the said sums of money were wginally •ttpulated to be patd on such day, anyfh;ng in sa~d pranisswy note or in this Matgage to the contrary natwiths~and~ng; and thereupon or thereafter at the option of said MORTGAGEE, wirhout not~ce w demand, suit at law or in equity, therefae o~ thereafter begun, may be prosecuted as if all moneys secv~ed he~eby t~ad matwed {x~or to its institution. 7. Thet in the event that at the beginn~ng of w at any time pending any suit upon this Mortgage, a to foreclose it, or to refwm it, or to eoforce payment of any claims he~eunder, said MORTGAGEE shal~ appty to the Court having jurisd~aion thereof for the appo~ntment of a Receiver, such ~ourt shail Forthwith appo+nt a receiver of said mortgaged property atl and singular, includ+ng a!f and s;rr~ular the income, profits, issues and reve~ues from whatever source derived, each and every of wh~ch, it being expressly understaod, is hereby mortgaged as if spec~fically set forth and destribed in the granting a~d habendum clauses hereof, and suth Receiver shall have all the broad and effective funct~ons and ~powers in anywise enuusted by a Co~rt to a Receive~, and s:,ch appoiniment shalf be made by such Court as an admitted equity and a matter of absotute right to said MORTGAGEE, and without referente to the adequacy or inadequacy of the value of the prope~ty mwtgaged or to the soivency a~nsolverxy of said MORTGAGOR or the defendants, and that sucA rems, profits, income, issues and revenues shaN be applied by such Reteiver accordmg to the lien w equity of said MORiGAGEc ar~d the practice of such CouA. 8. To duty, prompHy and fu~~y pe~form, d~scharge, execute, effed, complete, comply w~~h and abide by each and every the stiputatio~s, sgreements, conditions and covenams in sa~d promissory note and ~his mortgage set forrh. 9. That in the e~ent the ownership of the mortgaged premises, or any part tF~ereof, becomes vested in e person other than the MORTGAGOR, the h10RTGAGEE, its successors and assigns, may, without notice to the MORTGAOR, deal with such successw or successor in interest with ~eference fo this mo~tgage and the debt hereby secured in the same manner as w~th Mortgagor without in any way v+riating oa d~scharging the ?Aortgagors' liability herr under or upon the debt hereby secured. No sale of the Fremises hereby mortgaged and no fwbearance on t1.o part of the MORiGAGEE w itt successors or assigns and no extens~on of ~he time for the payment of the debt hereby secured g~ven by the MORTGAGEE or its successws or azs~g~+s,"s`wll operate to release, discharge, modify change or affect the origina! l;ab;l;ty of the NtORTGAGOR herein, eilher 9n whole or io part. 10. It is specifically ag~eed that time is of the esxnce of this contract and that no waiver of any obligatioo hereunder or of the obligaYan se- cured hereby shall at any time thereafter be hetd to be a waiver of the terms he~eof w of the ins~rument secured herby. 11. In aod~tio~ to the forego:ng month!y paymsnts of princ pal and interest required by the prom~ssory no~e secured hereby, mo~tgagar covenants and agrees to pay ro martg3gee with each monthiy payraent an add~rional sum est~mated by mortgagee to be eqval to 1 i 12 of the annual tost of the foilow- ing: A-AII real property taxes levied or assessed agai•xt the above descr~hed real esrate. B-Prerr.iums on f~re and v:indstorm ins~rance as herein requ:red to be ca.ried on the improvement: s+tuate on the above_ d:stribed premises_ C-Premiums on such mortgage guaranty insurar.ce as mongagee shatl from t~me to time deem fit to tarry on the loan secured hereby. Mortgagee shall from time to time notify mongagor in writ]ng of the ama~nt due and payabte hereund.r and such sum shaU therevpon be due snd ' caya6le on the due date of the nezt month;y payment and each successive month thereafter ur.til mortgagee shalf notify mortgagor of a change in such amount. Such sums shall be applied by morrgagee toward the payment of rea! p~opeAy taxes, insurance prem:ums, and mortgage guaranty insurance p remiums. IN \YITNESS `NHEREOF, th said MORTGAGOR has hereunto set his hand and seat the day and year first aforeseid. Signed, Seaied nd deliv in ~the pre ence of: i ah ~ H oId ,Yard ~~ai~ ' ~ (Sea4 E N ina Ya rd a~~ . S S7ATE OF FLORIDA ~ ~ COUNTY Of _ St~ Lt1C].Q ~ ~ ! ~ Before me personally appeared Harold Yard s~ t = Nina Yasd his wife, to me well k~own and known to me to be = the individuals desvibed in ar~d who executed the fwegoing instrument, and acknowledged before me that they exec~ted the same fw the purposes ~ therein expreued. . And the said Nina Yard e ~~fe of the sa~d Karold Yard upon a sepa~a~e qnd privpt~ 5 examinat~on by me taken separate and apart from her said hwband, acknowledged ro and before me that she executed said instrumeM frpe~ snd•:y6twr. p rarily and without any compulsa~, constraint, apprehens~o~, or fear of w from her said husband. . '~3 ~ WITNESS my hand and official seal this ° ~ ~ day o e• ' ` D: 19' _ - . „ _ ' ~ - - Notary Public in and for the of_ at 4rge _ ' My Commission expires: _ - - • ' ~ ~ f~ ' _ ~ Retum To: ~ - ~ First Ftderal Sav~nqs s loan Assodar~on Kp1AR1f PUBUC.~<,+~..~1-ORIDA~IARSE~ - - ccirr . ~v~~ pEC.`~9.•~ ~ - ~ Of Fort P~e:ce. My ,CnVIMI_.., ~ • ,-uner~.~V~•~ ; ~ort Pierce, Florida ~ r, ~ ; E:- ~ ~ ~ + /''~•~,•~~.N~,+~,'` t . G:~`~f'~~y ; ftlEG,kr=~0~~~iYflJ?: ~ ,7,~ This Instrument Prepared By S` ~~y" pr:'~A~j~R7 ~y First Federal Savings & Loan Assoc a~ion w' Col2ins ;c J~t „ ~ . ,E '~3 ~ of Fort Pierce ~ Floxids C~R^ ,1.-'~ ~ r Checked By J~ 221 ~ js ~ U ~ ~~5 zN!'E~~.,~~ 25~013 - ?CCK _ - - s.~- _ . . . . " J ~r.