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HomeMy WebLinkAbout0520 3. To p~ace and continuously kaep on the bui:d~r.gs now o~ ~ereatter •ituste on said Isnd and on all equipment and persona~ly covcred by lhis mortg~ sgs, wilh all premiums thercon pa~d :n full, lire insurance in the usual standard pol~cy form, in a 1um approved by the MOR7GAGEf, and windsto~m insurance in tM uiwl srandard pol~cy fam, in ~ sum apqoved by ~he MORTGAGEE, in ~~ch comp~ny oi compan~es si ~hs MORjGAGEE may direc~s and all (ire and windaw~m i~surance poGcies on any of ~eid build~ops, sny lnterest ~here~n or pa~~ ?hereof, in d+~ apgrcqare sum aforeiaid w In ~atess the~eof, tMll contain ihe usual standard mwt~agee ciaute o~ suth otha tlaus~ as 1h~ Mwtpssee may requ~r~, makinp ths Io~s unde~ sa~d po1F ciss, est6 snd every, payabte ro said MORiCAGEE as ~q interest may appear, and esch ~nd eve~y such poticy shall be promptly ass gncd and delivered ~o any held by ssid MORTGAGEE as 1urlhe~ security lo aaid matgage dcbt, and, not tess ~Fan ten (IOi dayt in advance of rhe expir~t;on ol esch policy, to da Gver ro said MORiGAGfE a renewal ~he.eof, tope~Mr wi~h • receipt fw the prtmium o( ivch renewal; and ~hen shatt h~ oo fne o~ wtnd~torm iniurance pl~c~d on any of said buitdings, any interest there~n or p~rt tMa~eof, unlesa in tM fo~m and w~~h ~M lou payable as afa~iaid; and in the fvlAf i0y !UT of money becomes payable under such policy w potEcies wid MORIGAGEE s?+aU have th~ optlon to r~ceive and app~y tM same on accoun~ of ihe indebted- ± ness secured hereby w ro permit said MORTGAGORS to receive and us~ it o~ •ny parl thereof for o~ne~ ~urposes, v.~~ho~t lharcb~ waiving or unpair- { ~~g any eqvity, lien a righ~ under w by virtue of Ihis matgsge; u+d in ths event taid MORTGAGORS shall fw any reawn fail to kcep the said prtmises so • insvred, a fail to deliver promp~ly any of said policies of insu~anca to s~id MORiGAGEE, or fail promptly to pay futly any p?e~n;um therefor w in any 3 respetl (ail to perfwm, d~scharge, execute, eifecl, complete, comply with and ab+de by thit cove~an~, u any part hereof, said MORTGAGfE may ptate and ~ pay fw such insurance w any part thereaf withovt waivirp or affecting eny option, lien, equity, w tight unde~ or by virtw of this Mwtgaye, •nd the iull amouM of each and eve~y such payment shall be immediately due and payable and shall bear interest from ths date thereof until paid at the ~ate ol ' nine per tentum per annum and to~e~hcr with such i~terest sha~f be secured by the fien of this mwtgagt. ; f 1. To permi4 commit or suffer no waste, impairment w deter~o~ation of taid property w any psrt Ihereof. S. To pay alt and singulu rhe costs, charges and expenses, inclutiing a reasonable anorney's fce and costs of abst~adt of title, incurred w paid at any time by said MORTGAGEE, becauso or in the erent o4 the iailure o~ the part of ths said MORTGACspR to duly, p?omptly •nd fulty perfwm, dixhsrge, execute, effed, complete, comply with and ab;de by each a~d every the stipulations, agreements, conditions, snd covenants of said prom~:sory ~ote and this mortgepe any or eithor, and u~d costs. cha~ges and expenses, each and evcvy, shalt be immediately due and payable: whether w not there be r?otice dr mand, atttmpt to tollect w suil pending; and the f~ll amount of each and every s~ch paymero shalt bes? interest From the date thereo! until paid at the rare oF nine per ctntum per annurn; and all said costs, charges and eapensns incurred w paid, together wAh tuch iMeresL shall be secured by the lieo of tha mortgage. 6. That (s) in the event of any breach of ?his Mortgage w detau~t on the part of the MORTGAGOR, or (b) in the svent any of sa~d sums of money ne?ein referred to be ~ot promptly and fully pa'rd wiehin lh;rty (3p) days ne,ct after the same severatly become due and piyable. without demsnd or ~otice. or (c) in the evenf each and eve~y the stipulptions, agreements, cenditions a+x! covenants o1 sa~d promissory note and th~s mortgsge a~y p eithet are not iuly, promptly and fu11y per(ormed, d~scharged, executed, effectgd, compteted, complied with and ab+ded ~ay, then in e~ther w any s~ch eveM the said ag g~egare sum me~tio~xd in utd promissory note then remaining unpaid, w~th interest accrued, and all moneys secured hereby, thall become due snd pay~ able fwthwith, w thereafter, at the option of said MORiGAGEE, as fully and completely as if atl of the said sums of nwney wera aiginally st~pulated to be paid on such day, any?hing in sa:d prom~ssory note or in this Mortgage to the contrary notwithatand~ng; and thereupon a thereafter at the option of said MQRTGAGEE, without notice w demand, suit at law w in rquity, therefwe or thereaite~ begun, may be prosecuted u if aIl mw?eys secured hereby had matured pnor to its inslitution. 7. That io the event rhat at the begin~ing of or at any time pending ~ny su~t upon this Mortgage, w to foreclose it, or to re(wm it, or to enfwce payment of any tlaims hereunder, said MORTGAGEE shall apply to the Court having jurisd~ction thereoi fw the appo~~tment of a Reteiver, such Court shsll forthwith appoint a rcceiver oF said matgaged,property alt and singular, includ~ng all and sing~lar the income, prof;IS, issuea and reve~ues lrom whatever sovrce derived, each and every of which, it being expressly understood, is hereby mor~gaged as if speuficslty xt fwth and destribed in the granting and habendum clavses hcreoi, and such Receiver shali have all the 4road and effective funtt~ons and powers in anyw~se e~rrusted by s Covrr to a Receiver, and---- s„ch appointment shall be made ay such Cour~ ss an admitted equity and a matter oi absolute ~ight to said MORTGAGEE, ind withoul reference to the edequaty or inadequacy of the value of the property mortgaged or to the salvency o~ insolvency of said MORiGAGOR w the defendants, and that such renn, profib, income, issves and reven~es shalt be applied by such Receiver ac<ard~ng to the~lien o~ equ;ty of said MORTGAGEf and the practice ol iuch Court. B. To duly, promptly snd fully pe?form, d~scharge, execute, effect, complete, comply with and abide by each and everyr the stipulations, agreements, ; conditions and covenan?s ~n u~d promissory note and th~s martgaqe set fwth. 9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a perwn other than ihe MORTGAGOR, the MORTGAGEE, its successo~s and assigns, may, wi~hout notice to the MORTGAOR, deal with such succeuor or successor in interest with refere~ce Io this rnortgage and ~FK debt hereby secured in the same manner as with Mortgagw without in any way viuating w d~scharging the Mo+tgagors' leability he~r under or upon the debt hereby sec~red. No saie of the premises he~eby mo~tgaged and no forbearance o~ the part of tF~e MORTGAGEE w its suctessors or assigns a~d no exte~sion of the tim? for the paymenl of the debt hereby secured given by the MORTGAGEE or its successors ot auigns, ~hall operate io release, d~scharge, modify change or aHect the origiaal fiabil~ty of the MORTGAGOR herein, either in whole w in parf. 10. It is specificalfy agreed that time ia of 1he essence of rh;s contrsct and thal no waiver of arty obligation hereunder w of the obligaYan se- cured hereby shali at any time thereafter be hetd to be a waiver of the terms hereof w of the instrument secured herby. 11. In add~~io~ to the fwego:ng monthty payments of princ'pal and interest req~ired by the promissory note secured hereby, mafgagar covenants and agrees to pay to mortgagee wirh each monrhly payrnent an add~rional sum estzmated by mwrgegee to be equal to 1~12 of the annuat cost of the follow- ~ng: _ A-All real property taxes levied or assess~>d against thc above describcd real estate. B-Prem~ums on fire and windsto:m insurar.ce as herein requ~red to be carried on the improveme~ts situate on the above described Rremises. C-Premiums on suth mortgage guaranfy insurance as mortgagee shall from t~me to time deem fit to tarry on the loan setured hereby- Morrgagee sball from time to rime noriiy mortgagor in writing of the amount due and payable hereundrr and such sum shall thereupon be due end ;ayable on the due date of the next month:y payment and eacfi successive month thereafter ur,tit mortgagee shall notify mongagor of a change in such a•nount. Such sums sha;: be appiied by mortgagee roward tne payment of rea! property taxes, insurante prem:ums, and mwt~age guaranty insurance oremiumt. IN WITNESS WHEREOF, the sa~d MORTGAGOR has Fwreunto set h~s hand ar,d seal rhe day and year first afwesaid_ Signed. Sealed and deliver the presence af: ~ ~ ~ + ~ ~ Ur@ ~ E. Madde re•aD 11 r'~n~~- .~'l-~. ~S G~~-^ ~ (Sea4 _ Nd~Cy ~Etadden (s~.q ~ ' SiATE OF ftORtDA ~ _ ' I COUNYIf OF $t • ~1Cle ~ Befwe me penonally appeared _ Ldtll@1 E. Madden a~ ~ lYa7lCy A. Madden ~ h;: w7fe, to me welf known and known to me to bs ~ the individuals desvibed in and who executed the fwegoing instrument, and aticnowledged befo:e me that they executed the same fw the pwrposes I therein expreased. And the said Naney A• 1~ad@Il ~ wife of the said Laurel E. Madden upon s separate and private i examination by me taken separete and apart from her said husband, atknowfedged to and before me tlwt sht exetuled said instrumeM freely and volurr ; rarily and without any compulsion, constrainr, apprehensiw~por fear of or from htr said hua nd. /~IC WITNESS my hand and official seal this 1,~ ~ day of q, p, ~q~_ Notary Pu in and for the State of flwida at lar~e Return To: ~y ~ expires: ~~y 6~ / 9 7 S _7 , Firsf federal Savings 3 loan Association Of fort P~erce. a;~'~ `:.~~~~.~~~~~~~~~,~5-'~ , ~~~t~~V fort P~~rce. Norida 'ti.•~,,~:'' c1,.~~,' • «i~v i+~;• GFrn~QF~ . . . $T.LIJC; -JI~ViY~1~. ~ - s~'' , 'jQA~ ,~/I~ ' • ~~c:.. ~%y~ ; - + ' 7C • y. V !rr GJ~• . This instrument Prepared By Jplin iV. Coll~n's . ~ ~ - , = ' ~ ~ = - ~ ~ First Federal Savings & Loan Association ~ ~ y'~ + ! of Fort Pierce~ Florida . ~~?c 6 41o PH'73 ` Checked By • ; ~ •J ~ r ~ ` ' . - ,f ~ i . . BDO~K~~~ Q~;E . sib ; „ ~ { _ ; - - - - . _ _ ~ . _ . ~ _ .