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Home My WebLink About1540 3. To place and cominuoualy keep on Ihe bui!d~ngs now or hereaf~er s~tuale on sa7d land and on ali equipme~l and personalty covercd by th~s mortg- sge, wilh all p~emiums thereon pa:d in full, lire insura~ce in the usuat standerd policy fo~m, in a sum ~pprored by ehe MORfGAGEE, ?nd windstorm insurance in tht vsua! sranda~d pol~cy fo~m, in • sum spprovrd by the MORiGAGEE, in such companr or companiei ai tAa MORTGAGEE may dir~ct; ~nd all fire and w~ndato~m insuro~xe policies on a~y of said buiid~n~i. ~ny fnle~esl therein or parl thereo(, in the aggregate sum aforesaid w i~ ~xces~ therco(, sFw11 contain the usua! standard morrgages clause or such othei clauss ~s the Mortgagee may requ~re, making the lois unde? •a~d polf c~sf, each ~nd avery, payabl~ to said MORTGAGEE as ~h iroe~est may appeat, and each and every such potity shall be promptty ass gncd and delivered ~o any Mld by said MORTGAGEE a~ funher ~ccurity to said mor~gaye drbt, and, not less ~Mn ~en (!O) days in advance of fhe expirafion of each policy, to de- I~ver to iaid MORTGAGfE a renewal thereof, ~oge~he~ with a rece~pt lo? Ihe p?em~um ol tuch renewat; and thrre ahall be no f~re or winds~orm in~ura~ce p~sted on ~~y oi said bviid~ngs, any iniereil therein or par~ thereof, unless in tF~ form and wi~h tM loss payabfe at afweuiJ; ~nd '+n tAe eve~f any sum of money becomcs payabte unde~ such policy or pol~cies ~aid MORiGAGEE shaU h~ve ti» opt~o~ to ra~ceive and spply the same on accoun~ oi the indrbted ~eu secwed hercby w to perm~l said MORTGAGORS to receive and ute it w any part thereof fo~ o~her pwNo~rs, wi~hout th~rrb~ w~i~i~~g o~ ~~npair- inp any aqu~ty, lie~ w~ight ur+der w by virtue of this mo:!gage; and in ~ha evem sa~d MORTGAGORS sha!! Ior any reason fail to kecp the said premisrs w insu~ed, or fail to deliver ptomptly any of said polic+ei ot insurante to iaid MORTGAGEE, w fai! ptomptly 1o pay fully any pre~rium ~herefw or in a~y respett fail to perfam, distharge, executa, elfed, complete, comply wi~h end abide by this tove~anl, o~ any parl hareo(, said MORTG~?GEE may place a~~d pay (or such insurance o~ any pa.t thereof witAou~ waiving or affeaing any option, lisn, equ~ty, o~ r~gh~ unde~ w by v~r~ue of ~hi~ hlortgage, and the full amoun~ of tach and ev~~y such paymenl shatl be ~mmediately dus and payable +nd shall bear interest irom the date the~eof uniil p~id at ~he rats of nine per ce~tum per annum and to~rther with such interest shaii be secured by fhe lien of th;s matgage. To permit, commil or sulfer no waste, FmpairmeM or deterioration of said property o~ any part theteof. 5. To pay all and singulsr tha costs, charges and expenses, i~cluding a reasonable attorney i fee snd coa~s of abatracti of titls, iocurred oc pa~d at any time by said MORTGAGfE, becavse or in the eveM of the fsilure on the part of the said MORiGAGOR ro duly, promptly snd fulty perform, discherge, execute, eifect, completa, compty w~th and ab:de by each and every the stipulauons, sg.eements, conditiau, +nd covenanb oi said promliwry note and thii mwtgage any or either, and u~d cost~, charges and expenses, each end every, shall be immediatety due and payable; whe~her w ~ot there be not~ce dr mand, attempt to colkct o? :ui~ pend~ng; and the full amount of each and every such payment shall bear interete f~om ehe date thereof unril p~id at the rate of nine per centum per an~ium; and all said coa~s, charges and expe~.ses incvrretl p paid, logether w~th suth interest, ihatl ba secured by the lien of th~a mqtyags. ~ 6. That (a) in the event of any breach of this Mortgage or defaul~ o~ the part of tF+e MORTGAGOR, w(b) in the event any o! ssid s~ms of mo~ey herein rtfrrred te be not promptly and fully paid wi:hin thuty (30) days next after ~he same :eve~atly bccooie due and payabte, without demand or notice, or (c) in the event each and every the stipula~ions, agrecme~ts, cond~t~w,s and covenants of sa~d promissory note a~x! th~a mortgage sny a either ere not iuty, promptty and (uily performed, d~schargCd, executed, e;fected, completed, complied with and ateded Sy, then in e~~her or any iuch event the sa~d ag gregate s~m mentianed in said promissory note then remaining unpaid, with in~erest accrued, and a!1 moneya aecured hereby, shall become due and pay- able forthwith, a fhereafte~, at the oprion of said MORTGAGEE, as fully and comp(etely as if aH of ehe said wms of money vrere a~ginally st~puiated ro be paid on soth day, anything in sald promissory note w in this Mortgage fo the contrary notwithstanding; and ~hereupon w thereafter a1 the option of said MORTGAGEE, without notice or demand, suit at law or in equity, therefwe w thereatter begun, may be prosccutet! ss if all monoys secured hereby had matured pr~or to iTS instiruriort_ 7. Tha~ in tt+e event that at the beyinning of w af any time pe~dtng any su~t ~pon this Mortgage, w to foreclox it, w to reiorm it, o? to enforce payment of sny tla~ms I+ercunder, said MORTGAGEE shatl appty to thr Court having juriid~ction thereo4 iw the appointment of a Receiver, such Court shell Forthwith appoint s receiver of said mortgaged proptrty a!I and singular, includ,ng ail and singu~ar the income, prof~ts, issues and reven~s lrom whatever source derived, eacF. and every of which, it being exp~essty understood, ia he~eby m~tgaged as if specifically set forth snd destribed i~ the granting and habendum clauses hereof, and svch Receiver shall have all !he broad and eifecteve funtr,ons and powers in anyw~se erttrusfed by a Courf to a Reteiver, and s~ch appoin~mene shalt be made by wch Court as an admitted equity and a ma~~er of absalute right to iaid MORTGAGEE, and without refere~ce to the adequaty a inadequacy of the value of tF+e property mortgaged or to the so~vency o~ insoivency of said MORfGAGOR w the defendants, and that such renrs, profits, income, issues and revertues shall be applied by such Receiver accord~ng to the lien or equity of said MORiGAGEE and 1he practice of wch Court. 8. To duly, promptly and fully perform, d~scharge, execute, effed, complete, comply with and abide by each and every the stipuiations, agreements, conditiorts and covenams in sa~d promissory note and th:s mortgaga ser forth. 9. That in the evert? rhe ownersh;p of fhe morrgaged prem;ses, w any part thereof, b~comes vested in e person other than the MORTGAGOR, the M1',ORTGAGEE, its suctessors and assigna, rnay, without notice to the A'.ORTGAOR, deal with such successor or succeasor in inte~est with reference to this mortgsge and the debf hereby securcd in the same man~er as witt~ Mortgagor withoul in any way vil;afing or dixhaiging the Mortgagors' liability F~ere- urtder p upon the debt hereby securMl. No sate of the premises hereby mortgaged and no forbearance on ~he part of the MORTGAGEE or its successors or assigns and no extension of the time for the payment of the debt hereby secured give~ by the MORTGAGEE o~ its successors or auigns, siwl) operate ro rotease, d~scharge, mod~fy change or affect the o~iginal liah~lay of the MORiGAGOR herein, eifher in whole w in part. 10. It is spec~fically agreed that time is of the essence of this tont~act and that no waiver of any obligalion hereunder or of the obligation se- cured hereby shall at any time thereafter be heSd to be a waiver of the terms hercof w of the instrumenl secured herby. 11. In add~tiu~ to the (orego:ng month!y payments of pri~c"pal and interest required by the prom~ssory no!e secured hereby, mortgago~ covenanis and agrees to pay to mortgagee with each monthly pay~nent an add~rional sum est~mated by mortgagee to be equal to 1~'12 of the annuat cost of the follow- ing: A-All real property taxes levied or assess~d against the above described real estate_ B-Prem~ums on fire a~d windsto+en ins~rance as herein requ~red to be ~arried on the ;mprovemeits s;tuate on the above d-scribed premises. C-Prem;ums on such mortgage guaranty ir.surar.ce as mortgagee shalt from t~me to time deem fit to carry on the loan secured hereby. . Mortgagee shall f~om time time notify mortgagor in writ~ng of the amount d~e and payable hereundar and such sum shall thereupon be due and cayable on the due dat~ oF the next month:y payment and each successive month thereafter u~til mongagee shall notify mortgagw of a change in such amount. Such surns sF.ail be app;ied by mortgagee toward the payment of real property taxes, insurance prem:ums, and mortgage guaranty insurance {~~emi~ms. IN WITNESS V'JHEREOF, the sa:d MORTGAGOR has hereunto set his hand and seal the day and year firs! aforesaid. Signed, Sealed and delivered in the presence of: ~ ~ I - BY : ~ ~ (Seaq witness: ' Nil yd B. Kralits, esi ~t AMEST : (SeaO witr,ess: ~ s ie , a i s, cre ar~an i i STATE OF OO1~INfiCTICtJ7 \~`"~OUNN OF H82'tY0l~d ! I HEREBY CERTIFY, 1'hat on this _~~day of Juns A.D. 19 73 . , before me personally appeared HildeqaZd B. lCsalits aRd Geslie A. K]Calits ; respectively ` president and - ~ Secretary - T~easurer , of } ~ Burghazdt Schools, Inc. a Connecticut _ Corporation, to me ' known to be the persons described +n and who executed the foregoing instrument, and severally acknowledged the exe- ~ cution thereof to be their free act and deed as such officers for the uses and pursoses therein mentione¢; and~ ~hat~ they ' affixed thereto the officia) seal of said corporation, and the said ' ' the act an eed•af.'sai~ c~rporefion. : , l.._; ~.r,~: Wl7NESS my hand and officia! seal at Hattf ai My d st~ ~ ?his instrument prepared by - J. Hal Roberts ~ Jr. ~ . ~ Rizst Fedesal Savings and Loat~ Notary Pu 'c, in a for State an County.aforesaid. ' Association of Fort Pi¢rce, Florida My Commiss Lrg3~ J. BURD JR. sTIE A •'4OTAR1' I'('BLIC ' MD R~E9C~9~ k~ CO:tL'rss~ov ExFra~s r.+aR. 3~, 197R ' CQURT - ~ R~ cc~~ , veF~E~E~ ~ : Checked 8y ' Ju~ !S $ C~" ~8 AM'7 , ~ . ~i Y._. , . . _ . . ' " ' 1 . . . . . . _ . , . . ~..r.~ S::'a`~