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HomeMy WebLinkAbout1608 3. To ptace ~nd conlinuouily keep on ths buildings now w hereafter ~~~uate on s+~d I.nd and on all equipment snd perwn~lly covered by thii ma~q- ' sgs, with ~11 ptemium~ ?hereon pa~d i~ fvll, fire insurance ~n ~he usual iundard poticy form, i~ a•um approved by ~h~ MORiGAGEE. +~d w~nd~~or~? inswance in tM uswl i~andard pol~cy form, {n a sum spproved by th~ MORTGAGEE, in ~uch company w ca*~P+~~es +s t~» MORTGAGEE may direch ~nd ~II (irs and winrhtorm insuronts policies on •ny of iaid buitd~n~i, any IMeresl thtrein o~ p~~l therecl, in tM +ggrcyste ium aiwesaid or in ~:cess thereof, ihall co.~tain tM uiual iiandard mortga~ee dause w iuch othe~ cl~us~ u tM Ma~p+ge~ may requ~re, makinp tM lou unoer N~d po~i~ ciK, each and every, payab!• to aaid A10RTGAGEE as its interrst may appear, and cach and every tuth pol~cy ~MII be prompltY +ts 9ned +^d deliverrd ~o ~ny held by said MORTGAGEE ss further security to said monpage debt, and, not Ieu tMn ten (10) days in advancs of the expir~t~on of esch policy, to d~- livK to iaid MORTGAGEE a re~ewal thereof, toyetFur with • receipt fot the p?emium of suth renewsl; and there sl~all be no f~re a windstorm insurant~ ~ plsc~d on ~ny of ssid buildings, any interat Iherein w p~rt tMreof, unless in tM fwm and wilh th~ lou payable as aforesaid; ~nd in the event eny sum of money becomes payable unde~ such policy a polrcies uid MORTGAGEE shall Mve the optio~ to receive and apply 1M same on accouro of the irxlebied~ ~ neu secured hereby o~ to permit said MORTGAGORS to receive and us~ it p any pa~t ~hereof iw other purposes, w~~hout ~h.•eb~ waiv~~~g or ~~~~Pe~i- ~ iny any equity, lien or rlght urxier or by virtue of this moztyage; ~nd in tM eve~t ia~d MORTGAGORS shall fa sny ieawn fai) to keep the said premises so ~ insured, w fail ro deliver pranptly ~ny of said policies of insurance to said MORTGAGEE, w fail promptly to pay tully •ny prem~um the.efw a in any 1 respM feil b pe~fwm, discharge, executa, effect, complete, comply wi~h and abide by this coven~nl, o~ any part hereof, said MORTGAGEE miy p~~ce and ! pay iw suth inturancs or any part thereof without waivitg w affettfn~ ~ny option, lien, equity, a righf under ot by virtue of this Mwtgape, +nd the ; full amou~t of each and every such psyment shsll be immediately dw and paysble end sha~l bea~ interest from ths date thueof u~til paid et the ~ate ol ; nine per ce~tum per annum and together with suth interest shatl be setured by the IiM of this mort9age• I 1. To permit, tommit or euffer no waste, impairment or deterioratian of ~aid property or any paA lhereof• i S. To pay atl and tingular the co~ts, charges snd expenses, includiny a reasonable attwney's fee snd cos~s of abstracts of titls, incurred w paid at ~ eny time by said MORTGAGEE, betause or i~ 1he eve~t of the failure on 1he part of the said MORTGAGOR lo duty, promptly and fully perform, d~uhsrge, execute, effecf, complete, comply w~th and ab:de by each ~nd every the ~tipulat~ons, agreements, conditions, and covenents of said promisswy ~+ote and +his t mortgage a~y or either. and sa~d costs." charges a~ expe~ses. each end every, sMll be immediately du~ and paysble: whetlxr w not there be norice dc ~ mand, attempt to collect a suit pend~ng; and ths full amount of each and every svch payment sMll bea~ inrorest from the date thereof until paid at the ~ rate of nine per centum per an~wm; and all said costs, charges and expenses inturrcd or paid, togelher w~1h such interett, shall be secured by the lien of thi~ mortga~. 6. Th~t (s) in the event of any breach of this Mo~tgage or defavlt on the part of the MORTGAGOR, o~ (b) in the event any of said sums of mo~ey • herein referred to be not promptly and fully paid within thirty (30) days next afrer the same sever~lly become due and payable, without demand w notice. or in the event each andevery the atipulations, sgreements, conditions and covena~ts of sa~d promissory note and th~s mortgage aey w ei~he~ are no1 iuly, promptly and fully performed, d~xharged, execured, effected, completed, compl~ed with and sbided by, then in either or any such event t1?e ssid +g gregate wm menta~ed in said promissory note then remaining unpaid, with intere~~ accrued, and all moneys secured hereby, shall become due and pay- able fathwith, or thereafte?. at the option of said MORTGAGEE, as fully and comp(etely as if all of the said sums of money were aginally s~~pula~ed to be pa~d on such day, anything in sa~d promisswy ~ote or in this Mortgage to the contrary notwithstanding; and ~hereupon w thereafte~ at the op~~on of said MORTGAGEE, without notice or demand, suit at law or in equity, therefore w tAereafter begun, may be proxcvted as if all moneys secured hereby had matured pnor to its institution. _ 7. That in the event that at the beginning of or at any time pend~rg any s~if upon this Mortgage, or to fweclose it, or to refwm it, w to enfores payment ot a~y daims he?eund2r, said MORTGAGEE shall apply to the Covrt havin9 jurisd~c~ion thereof for the appointment of a Receiver, such Coun shell Forihwith appoint a reteiver of said mwtgsged property all and singular, intlud~:tg a!1 and aingular the intome, p?ofits, iuues and revenues from whatever source derived, each end every of wh~ch, it being expressly unde?stood, is hereby mw~gaged as if specufically se1 fath and described ip the granting and habendum clauses hereof, and such Receiver shall have aIl the broad and effective funct~ons and powers in anywise emrusted by a Court to a Receiver, and :~ch sppointment sha11 be made by wch Court as an admitted equity and a matter of absolute right to said MORIGAGEE, and without re(erence to the adequxy or inadequacy of the value of the property mortgaged or to the soNency w insolvency oi said MORiGAGOR or the defendants, and ~hat such rents, profits, income, iuues and revenues ahall be applied by such Reteiver accordmg to 1he lien or equity of said MORTGAGEE and the prattice of such Caurt. ~ 8. To duty, promptly and futly perform, discha~ge, execute, effect, complete, comp~y with snd abide by each and every the stipulations, agreements, conditans and covenants in said promissory note and this mortgage set iwth. 9. Thst in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a perwn other than the MORTGAGOR, ti+e MORTGAGEE, its successws and auigns, may, without ~otice to the MORTGAOR, deal with such succeuor or successa in interest with reference to this mongsge and the debt hereby secured in the same manner as with Mortgagw without in any way vitiating or d~uharging the Mortgagors' liabiiity herr under or upon the debt hereby secured. slo sate of the premises hereby mortgaged and no forbearance on Ihe part oF ~he MORTGAGEE w its successors or au~gns and no exrension of the time fw the payment of the debt hereby secured given by the MORTGAGEE or its tuctessws or assigns, sMll operate to release, d+uharge, modify change w affect the o~iginal Iiabil~ty of the h10RTGAGOR herein, either in whok or in part. 10. It is spec~f~cally agreed that time is of the essence of this contrad and that no waiver of any ob~igat~on hereunder or of the obligaYan se- cured hereby shall at any time thereafter be held to be a waiver of the terms hereo( a of the instrument secured herby. I 1. in add~tio~ to the forego'ng monthty paym:nts of princ pa! and interest required by the promissory note secured hereby, mortgagor covenants and agrees to pay to mortgagee with each monthty payment an add~rional sum estimated by mortgagee to be equa~ to 1/12 of tne annual cost of the follow- ing: A-All real property taxrs levied or assessed agai~st the above described real estate. j 6-Premiums on fire and windstorm insurar.ce as herein requ;red to be carried on the improveme~ts situate on the above described premises. f C-Premiums on such mwtgage guaranty insurar.ce as mortgagee shall from t~me to time deem fit to carry on the toan secured hereby. ~ Morfgagee shall from time to time notify mortgagor in writing of the amovnt due and payable hereunder and such sum shall there~pon be d~e and e F.ayable on the due date of the next mo~thly payment and each successive month thereafter ur.til mortqagee shall notify mortgagor of a change in such ? aT,ount. Such sums shall be applied by mortgagee toward the paymeM of real property taxes, insurance prem:ums, and mortgage guaranty insurance ~ p•er.~iums. ~ IN Y~ITNESS WHEREOf, the said MORTGAGOR has hereunto set his hand and sea! the day and year first afo~esaid. ~ ~ Signed,- Seat and livered in the presence of: ~ ~ _ ~ sQ ~ a4 (Seaq ~ - ~Sesl) STATE OF FLORIDA ~ S5. cour~nr oF St . Luc i e Befae me perwnally appeared TZdVl S O. ~'ewton ,,,d Vera %f3. Newton his wife, to me well known and known to me to be ~ ~ ihe individwls desuibed in and who executed the foregoing instrument, and acknowledged betore me that they executed the same for the pvrposes ~ rherein ex~.~d. a,d rrx :a~~ Vera B Newton - ~ r,ife of the said Travi s Newton vpon a separate and privste ~ ~ examination by me taken separate and apart from her said husband, ecknowledged to and befwe rtx that she executed said instrument freely and volun- ~arily and without any compuision, tonstraint, apprehension, or fear of or from her said husband. ,73 ~ WITNESS my hand and official seal this 18 t h dsy of '1UnP A. D. 19 : FILEO AYD RECOR - ~ $T. LU~ ^C COUNTr Notary Public in and for~fhe St of Florids at larye '~s R06: f F0~7RA9 My Commiss'wn expires: ; CLERI: i; =,~Ui7 COURT Return To: ~ RFCOr~ -~f:..:~1E0.~,_ ~ n First Federal Savings 3 loan Association Of Fort P~erce. ~O ~ ~ ~l" ' PU~!'r. ~ATE of fLDR1~?4~Mt ~~G~E~~1/~~~~ r' Fort Pierce. Florida ~ 4i PM 13 ~ ~ ;'~.'~SS C,h EXfIRES ~~1a\~ '~411 a~~ ~~y ~r_~ - .orw.u ry nmuaan wnk~S 1litupeCj'Cp;•: "r a' ~ ~ 8 ~ ~ ' ~ This Instrument Prepared By Richard K. Kayes =.~J•; r j First Federal Savings 8 Loan Associetion ~ i ~ 2? _ ~ of Fort Pierce t~ lo r i da ~ , ~ S Q . ~ Checked 8y~ 5;;~1;. ~ ~ ~ ~ g00K~~~ fl~Gf~~ ~ - - ~ -r~ , - - . . a _ _ ~ l~ .