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HomeMy WebLinkAbout2528 3. To place and cont~nuously keep on the bui'J~ngs now o~ herea(ter utuate on sa~d land and on a!I equpment and perso~ally cove~ed by this mortg- age, with all prom~~m~ Inr~tun pa~d in fuil, (ire insv~ance ~n rhe usval sranda~d poGcy fo~m, m a sum approved by tha h1'JR~GAGEE, and windstorm insurance in the usual standard poLcy lorm, in a svm app~o~ed Cy ~he MORIGAGEE, in such cwnpany w compan;es aa the MORIG.~GEE may dneU; and all lire and w~nd~~orm insuranca pol~cies o~ any of sa~d b~,+Id~ngs, any interest therein or part therrof, en Ihe aggreg~~e sum ~toresaid a in extess .thereol, shaN contain the usual stand~~d mortgagee tlause w such oiFx~ clause as the Mortgagce may requ~ro, ma?ing the ~oas u~xlr~ s~~d pol~ c~e~, each and every, pa~ab!e ~o sa~d h10RTGt.GEE a~ its i~tereat may appear, and each and every such policy shatl be promprty assgned a~+d delivvr~d to any held by sa~d MORfGAGEE +s (u~ther security to sa~d morrgage debt, and, not lcss than ten (10) days in ndvance of ~he expira~~on al each policy, to da 11ver to ia~d M~RiGAGiE a renewal therrof, ~ogeiher with a rece~pt fw ~he prrm~um oi svch ~enewal; and ~here shail ba no i~re or w~~ ds~o.m iniura~ce plated on any of said buildings, any interesl there~n or parl thareof, untess in ~he form and with the loss payable as alo~esaid; and in the eveM any sum of mJney becorncs payable ~nder such policy or pofcies said MORTGAGEE ihall have ~he opt~on to rec~~~e a~,d oppty sh~ sa„~e on accoum of iAe iudzb~ed- nens secu~ed her,:by w ro perm~t sa~d MORTGAGORS to receive and use it a any pa~t ~he:.~ol !or orn~~r ~:urp os~•s. v.:~n.,;t rh,., ur ,1 ~~,;~.,~r- ing any equ~ty, tien w righ~ under w by virtue of this mo~tgage; and in the evenl, sa~d A10RTGAGORS sAall for any reason fail to keep ~he sa~d premisas so ~nsured, or fail to deliver promptly any oi said pol~cies of insurance lo said MORTGAGEE, or f~d p:ompt:y to pay fu~ly any prrm~,,m therefcx o~ in aoy respect lail to pe~form, d~schar9e, execvte, effecl, canplete, tomply with and abide by this cove~ant, p any pan h.~~zot, sa~d MGRiG:.GEE may p~ate a~o pay for such insurance or eny part thereof wi~hou? waiving w ai(ecting any op~~on, lien, eq~~ty, or nyM under or by virrue of ~his Mor~gogr, and nc~ 1~11 amouM of each and e~ery such paymem sha!{ be immediately due and payable and ahall bear interes~ fran the date the~eof ur,til poid a~ the rata o1 nme per centum per ann~m and ro~ether w+th such interest shaii tx srcurc-d by the lien o1 this mortgage. 1, io permit, commit a su(fer no was?e, impairmrN a deter~oratioo of said property or any pa~1 thereo(. 5. To pay all and singular the costs, charges a~d expenses, inciuding a reasenable attorney's fee and cos~s of abstratls of t~tte, inc~rred o? pa~d at any time by sa~d MORTGAGfE, be:ause a in the event of the failure un the part of the said MORTGAGOR to duly, pra~rtv~ly and fu~ly peiform, d~scharge, rxecure, efFece, cwnplere, comply w~th and ab:de by each and every fhe stipulanons, agreemenn, cond~~ions, and covenants of said p~anissory note and ~h~i mortgage any o~ eithe:, and sa~d tosta, chargrs and expenses, each and every, sha11 be immediately due aod payabte; whe~her or no~ ~here be nor~~e de mand, attemp~ to coliKt or suit pendmg; a~d the ful! amuunt oF each and eve~y such payment ahall bear imeres~ from the date thereof umi! pa~d at the ~.~te oi n,~e ~er cemum per an~~~.n; a,ld all said cos~s, charges and e~penses incurred or paid, together w~th such interest, shall be secured by the i~rn of th~s mortgage. 6. That (a) in the event of any breach o( this Mortgage w defautt on the part of ~he /dORTGAGOR, or (b) in the evrnt any of sn~d sums of money herein rcterred to be not promptiy and fully paid wi~hin thuty i30i days oex~ aiter ihe same severa:ty become due and payab~e, without dcmand or notite, or j~) in the evero each and every the s~ipu'.at.ons, agreements, cond~rions and covenants of sa,d promiswry note and eh~s mortgage any w either are nol ~u~y, promptly and fully pe~tormed, d-scharged, executed, effected, completed, compl~ed with and ab~ded Sy, tfien in e~ther or any such event the sa~d ag gregate sum mentioned in said pro~nissory note then remaining unpaid, with interest accrued, and all moneys secured hereby, ~hatl become due and pay- ab,e fonhwith, or thereafter, at the opuon of sa~d MORTGAGEE, as fully and compte~ely as if aU of thr sa~d sums-of money were w~ginatly snpu~ated to be pa:d on suth day, anything in sa:d prom~ssory note or in this Mwtgage to the cont~ary notwithstanding; and thereupon or tnereafter at Ihe op~~on of sa;d MORTGAGEE, without no+~ce or demand, suit at !aw or in equity, theiefore or If~ereai~e~ begun, may be prosecuted as if al! moneys secured hereby r.=d matured pnor !o ~ts institut~on. 7. That in the event that at the beginning of or at any time pending any suit upon this Mortgaga, or to foreclose it, or to reform it, w to enfcrce payment of any claims hereunder, said MORTGAGEE shail apply to the Cou~t havi~:g ~ur~sd~a~on thereot for the aRpo~nrment of a Receiver, such Cou~1 sball Fc•thwirh appoint a receiver of said mortgaged properfy all and singular, includ~ng aU and s~ng~tar the income, profits, iswes and revenues from whateve~ sc~~ce dzr~ved, each and every of wh~ch, it be~ng expressly unders~ood, is he~eby morrgaged as ~f speuficatly set forth and described in IhC grsnting and h~bendum dauses hereof, ar.d such Receiver shai{ have att the broad and etfective funcr,ons and powers in anyw~se entr~sted by a Co~rt to a Receiver, and s_ch appo;ntment shalt be made by such Court a3 an admittrd equity and a matter oF absotute right fo said M'JRTGAGEE, end witAavt reference to the a~ieq~acy or inadeqvacy of the value of the propert~ mo;~gaged or to the so~vency or ~nson•enCy of said MORiGAGOR or the defendants, and ihaf such re~,rs, profds, income, issues and rever.ues shalt be applied by such Receiver accurd~ng to the lien or eq~ity of said A10RTGAGEE and tiie prectice of such Court. 8. To duly, prompety and fu:~y perform, discharge, execute, eifect, complete, comply with and abede by each and every the stipulations, agree~nents, conditions and covenann ~n sa~d promissory rwte and this mortg3ge set ~orth. 9. Thaf in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than 1he MORTGAGOR, the .'ORTGAGEE, iq succezsors and assigns, may, wi~ho~t norice to the MORTGAOk, deal wnh wch svccessor or s~cceasor in interesi ~v~~h relerence to this ~.c~rgage and ihe debt hereby secured in the same manner as w~rh Alongago. w'uhout in any ,vay viY:ating or d~scharg~ng the ldortgagori liability here- under w upon the debt he~eby secwed. No sa;e of the premises h~reby mortgaged and no iorbezren~e on the part of the ?1lORiGAGEE or its svccessors er assigns and no extension of tne time for the paymem of the debt hereby secured given by the MORTGAGEE or i?s svccessors or ass;gns, a;:all operate ro retease, d+scharge, rt.od~fy change or affect the orig~nai iwb~!:ty of the MORTGAGOR herein, either in whole w in part. i0. It is spec+f~cally agreed ~hat ti~e is of the essence of this contract and that no waiver of any obl~gat~on hereunder o? of the obligation se- cured hereby sha!~ ai any time thzreafter be he!d to be a waiver of the terms hereof or of the instrumeM secured herby. I 1. In ~dd.ilc-~ to the fo~ego ~,g montn!y payments oF pr;nc pat and interest required by the prom'sscry nore securad her~~b/, morrgagor eovenaMs + d agr_es to ;~ay to mary3gee v.ah each monthiy par•::ent an add~rio:~al sum est~n:ated by n:ortgagze to he equai to l,l~ of ~he annval cost of the follow- ~~3: A-All rea! property ~a,~es levie~ or assess_d ag.3~•~st thc above descrlbed reat estate. B-Fren.~u ns on fi~e and wi~:dsto:m insvrarce as herein reqv~red ro be carri<d on the ~mproveme~ts s~t~ate on the above d_scribed premises. C-Vram~ums on such r.tortg3ge g~araMy ir.;urar.ce as morrgagee shail fro~ t~me to time deem fit to carry on the wan secured hereby. Morrgagee sha:1 f~cm n,re to time notify mcrryager in w.it~ng oi rhe a~nou•v d~e and payable her¢~ndrr and wch sus, :ha!I thcreupon be due and c,~able on the due oate of ~he cext monthiy pa~ment and each successive month thereattcr u~.ri~ mertgagee shall nohfy mo~tgagor of a change in such ~ ounT_ Such svms s~a;f be app'i~3 hy mortgag~e toward the payrreM of rea! p~operty taxes, insurance prem;ums, a~tid mortgage guaranfy insurance ,>'emiUms. IN Y~ITPJESS '."rHEREOf, the sa~d MORiGAGOR has hereunto set his hand and seal the day and y ar first oresa~ . ~ ' ned, Sealed and de:ivered ' e presence of: ~ ' _ _ •y l ~LL 5eal) ' ~ Z C.. ~ ~ hn R. Sul ivan~ a~ingle ~1 t (Seaq i ~ - (Seal) ~ ST:.TE OF FLORIDA . ~ St, Lucie ~ GJtJMTY OF 1 _ ~ 8efore me personally appeared .~O~lll R~ Sullivan ; ~__---r-_-__-_r-~_~--__---_+~~~~__~_~~~r~~~~~~~~~~~+~1~~~. 10 me well known and known 10 IT1C f0 bC y the individua desaibed in and who executed tha ioregang instrument, and acknowiedged before me that ~Ry executed the same for the purposes ~ tflofCill expressed. A71a~lZa1H'~~~~~~~~r~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~r~~~~~~~~.~~~~~~~~~~~~~~~~ ~ ~ii}~0 OT~}1~~~~~~~~~~~~~~r~~r~~~~~~~~~i~~~~~~~~~~~~~r~~~~~~~~~~~~~~~~~~~~frS~alQltrblld~'/~IS'~ ~ ~w'b~,}ryRf1}~fR~~e'e~e4~+~Mi~iwiyr~i~?jsYa~~wk~or~ie~~ban~l.i~fr~h~f»Lf~~~tiWQdiaitLiiitfrrie~YLf~eo{~1~i~V~LtGr~ `~~'~1~Marr, tt~n~rain~eP'P28 h .roriea~d~or~f~enr*~~aibiRSab~awd~ ~ 1[~I~!!~CS~.ny tii~~ and offic~al feal this_- day of 'l~e A. D. 19 73 _1~':~•• ~ - - - ~ v • - Notary Pubt~c in and for State of Florida et Large ~ - My Commiuion expires: ' ~ S ~ - Retur~ Ta~ . % fq` st Fsdet~l~~' ~g~ ~ jobn Associat:on . a Le~ ~ ~(s"• OT Fort ~~e~ce. 11do~Y S~ 1~7~ } •}.,d~,.x• c~~ ~ ~pna~ission ~N~~ ~CosroHll ~ _ • ' ; r~v , i,,,d~d br %.n.*.:-- - F:~. a '',i:, . ~ This Instrument Prepared By John W. Coll3ns t~~Ep AMU P,ECORDEO ~ = First Federal Savings & Loan Association s'~~~~E•~pj1TaA5~~ of Fort Pierce~ FloYida R06E° CIEaK ~~'~~~T COURt _ Checked By REC~F~ VEaIr~EO~~-~ ~ ~9 10 2? AM'i 3 - s°~'~~2~5 ~~r~~25~ 25'7829 t t - - dz _ - _ - - - - _ . _ - - _ ~ ~ ~ : - = ~ , . _ ~ ~ = .