HomeMy WebLinkAbout1188 9. To placs and co~einuously kcep on the buildi~gs now or hereafte~ ~f?vate on sa~d lend and on all equ~pmem and perwnally covered by this mort~
~g~, with all premium~ thercon pa~d in full, (ir~ insv~+~ce in the usual standard policy form, in • sum approved by the MORiGAGEE, snd windttorm
inivrance in the usual srandard po!.cy fam, in s sum approved by the MORiGAGEE, in such company or companies aa ths MORTGAGEE may
di~~ct; and aU !bs and wlndstorm insurance policies on any of iaid build~ngs, aey interest tharein or pa~t thereol, in the ~yy~c9ate wm ~for~said a
in sxces~ thereof,. shall contain the usual standard morrgages clause o~ such other clauss ~i the Matgagee may rcqu~re, makirg ths lot~ under sa~d poli~
cies, each and every, payabte to said MORiGAGEE es it~ in?ereat mey appear, and eacF~ and every such policy shall be prompHy ass.gned +nd delivered ~o
+nY held by said MORTGAGEE as turther security to ~aid mwtyage debt, and, not leu lhan ten (10) day~ i~ advsnce of the expiration of each policy, to de~
liwr to said MORTGAGEE a renewal thereo(, ~o9ethq with a rece~pt iw the premium of such renewal~ and the~e ihal! be no f;re or windsto~m insuanc~
plxed on any of uid b~ildings, sny inte.est therein or part theroof, unleu i~ tM form and with 1he lou payable ai atore~aid; snd in tM •vent any tium
of money becomes payable unde~ such policy w pol~cies said MORTGAGEE thall Mve ~I~a opta~ to receive and apply tha ssme on accovnt of the indebted-
neu setured hersby a to permi! said lNORTGAGORS to rece;ve and use it a any parf fhereof Iw oiher Furposes, wi~hout thereb/ waiving or pa;.-
ing a~y eqvity, Iicn or right unde? w by virtus of this mo:'gage; snd in the event iaid MORTGAGORS shall fw any reason fai) to kcep 1he uid ifes w
insured, w fail to deliva prompt(y any of said polKiea of insu~ance to u~d MORTGAGFE, o~ fail promptly to pay fully any premium ther a in any
?espect fail to pevfwm, discMrge, execute, effect, complete, comply with and abide by this cova~ant, a any parl hereof, said MORTGA may pl~ce and
pay fot auch imurante w any part thereof withoul waivitg o~ effectirg any oplion, lien, equity, or right u~der or by virtw of thit Mwtgays, and.tht
full ar»ount of eath and every s~ch paynunl ahaU be immed;a~ely dus and payable and ahall bea~ interest from the date thereof until paid at the rata of
ni~e per centum per ann~m and together with such interest ahati be srcu~ed by the lian of this mortgage.
To permit, tommit or sufta no waste. impairment w deterioration of said property p any part thereof.
5. To pay sll aod singular the coits, charges s~d expenxs, includiny a ressonable attwney's fee and cost~ of ebsrracts of title, incurred w pa;d at
any tlme by sa;d MORTGAGfE, because w in thc event oi ~he failure on the part of tM said MORTGAGOR to duly, promptly and fully perfo~m, d~xhargq
execute, et(ed, complete, comply with ar~d ab~de by eath and every thp stipulatioro, agreements, conditions, and rnvenanb oi said promissory note and this
mortgaqe any or ei~her. and satd costs, charges and expenses. each and eve~y, sMll bs immedietely due and payable: whethe~ a not there be no~ice de
mand, attempt to mUect or tuit pending; and the full amo~nt of each and every s•xh paymeM sAall bear iMerest from tF?e date the~eof until paid at the
rare of ni~x per centum pev annum; and all uid costs, charges~hd expensea incurred or paid, ~ogether w~th such interest, ahall be ucuied by tAe lien of thu
mortgage-
6. Th~t (a) in the event of any breach of this Mortgsge or defautt on the part pf the MORTGAGOR, or (b) in the evenf ~ny of sa~d sums of money
herein referred to be not promptly and E~IIy paid within thirty (30) days next after the same xveratly beto~ne due and payabk, without demand o? nol;ce,
o? (c) in the event eatb and every the stipulations, agreements, conditew~s and cove~ants of sa~d promiuory note and tl?~s mortgage any w ei~her are not
~uly, promptly a~d fully performed, d~scharged, executed, effected, completed, complied with and abided ~iy, then in either w any such event the sa~d ag
gregate wm rn~Mioncd in said promisso~y note rhen remaining unpaid, with intercst aa~ued. and alt moneys secured hereby, thall become due a~d pay-
abte fathwith, or thereafte~, st the option of said MORIGAGEE, as fully and completely as i( all of the said svms of money were originally ;tipulated
to be paid on suth day, anythi~g in said promissory note w in thia Mwtgage to the contrary notwithstanding; and thereupon pr thereafter at the opi~on of
sa;d MORTGAGEE, without norica or demand, suit at law ot in equity, therefore w theteafter begun, may be prosetuted aa if all moneys secured hereby
had matured pnOr to ib institutio~. ,
7. That i~ the event that at the beginning of or at any tima pending any suit ~pon rhis 11~4ortgage, or to faectose it, or to refo~m it, or fo enforte
paym~nt of any claims hercunder, said MORTGAGEE shall apply to the Court having jur~sdiction thereof for the apRo~ntmenl of a Receiver, tuch Co~rt shall
Forthwith appoinf a receive~ of uid mortgsged property all and singuler, includmg all and sinqular the irttome, prolits, issves and revenues from whatever
sou~ce derivcd, each ~nd every of whKh, it being expressly undersrood, is hereby mortgaged as if hpec~lically set fortb and dewibed in the 9ranting and
habendum cl~uses hereof, snd such Recciver shall have all the droad and eflective funcnons and poryers in anywise entrusted by a Court to s Receiver, and
such appointment shsll be made by such Court as an admitted equity and a mstter of absolute right to said MORTGAGEE, and without reference to ihe
ndequscy or inadequacy of the value of ti?e property mortgaged or to the sotverxy or ;nsotvency of said MORTGAGOR p the defendann, and that such
rents, profits, incane, iuues and ~evenues shall be applied by~}uch Receiver according to the lien or equity of said MORTGAGEE and the prattite of such
Co~rt,
8. To duly, promptly and fully pesfam, dixharge, execute, effett, complete, comply with and abide by each and every the sfiputations, agreements,
conditans and covenants io sald promisswy note and th~s mortgage set fwth.
9. lhat in the event the ownership oi the mortgaged premises, or any part thereof, becomes vested ir? a person other than the MORTGAGOR, the
MORiGAGEf, its successors and ass%gns, may, wi~houf no~;ce tb the MORTGAOR, deal w;th such successor or successa in imerest with refereece to this
mortgage and the debt hereby secured i~ the same manner as with Mortgagw withovt in a~y way vitiating w d~uharging the Mwtgagors' liability htre-
under or vpon the debt hereby secured. No sale of the premises hereby mwtgaged and no (orbearance on the part of the MOR~GAGFE ot its successors
or auigns and no extens7on of the t;me fw the payment of the debt hereby secured grven by the MORTGAGEE or its avccessors or auigns, shall operate
to release, discharge, nwdify change a affect fhe orginal liabifity of the MORTGAGOR herein, either in whole w in put. '
10. It is spec~fically agreed that time is of the essence of this contract and that no waiver of any obligation hereunder p of the oWigation se-
cured hereby sha~l at any time thereafter be held to be a waiver of the terms hereof w of the instrument setured herby,
11. In add~tion to tne fwego'ng monthly payments of prin~ pal end interest required by fhe promissory nole secured hereby, mortgagor covenants
ar.d agrees to pay to mortgagee with each monthly payment an addirional sum est~mated by mwtgagee to be equal to 1/12 of the annual cost of the foltow-
ing:
A-All reel proper?y taxes levied or assessed against the above described real estate. '
B-Premiums o~ f;re and windstorm insurance as herein requ~red to be carried on the improveme~ts situate on the above desaibed premises.
C-Premiums on such mertgage guaranty insurar.ce as mortgagee shall from t~me to time deem fit to carry on the loan secured Fiereby.
Mortgagee shali from time to time notify mortgagor in writing of the amount due and payable he~eunder and suth sum sFwll thereupon be due and
Fayable on the due date of the next monthly paymenl and each successive mo~th thereafter ur.ti) mortgagee shal) ~otify mortgagor of a change in such
a~iount. $uch sums sF.ail be applied by mortgagee toward the payment of real property taxes, insurance prem:ums, and mwtgage guaranty insurance
p~emiums. .
IN WITNE55 WHEREOF, the sa3d MORTGAGOR has hereunto set his hand and seal the day a year first afores ' -
, Seeled and deliv m the pr e of:
Z.~ a4
~ -
J n
~ . ~ , s~~
Sea~
STATE OF FLORIDA ~ ,
St. Lucie
couNn oF
Before me personally appeared Jay A~ $a[~IQ
Nle,lpC@S R~ S$1Qle his wife, to me well known and known to me to bs
the ~ndrviduals described in and who execvred t n for irg inst?umen?, aod atknowledged befwe me that they execut~{.tae,~e for the purposes
therein expressed. Ar~d the said Franees ~I~,11@ •
r ~ ~ .
w~fe of the said `1ay A• SanQle s•~i~i(e and private
exam+nation by me taken separote and apart from her said husband, acknowledged to and before me that she ex~t~d.'said iwtqy~~~~e~{e'ly~ gd volurr
rar~ly and withovt any compulsion, consrraim, apprehens+ 1oc fea~ of or from her said husband. . e~ \
WliNESS my hand and officia! seal fhis ~T~ day of ' A~u st ~ ~ pY 19: 73
. ~ r ~ ` • ~
/ ~ ja • T. ~
v
, Notary Public in and fw te Z5f Iarida ai rps
My Commission expires: .•'~1 _ ~
Retum To: ~ . ~.••••'r~ •
Fint federal Savings 3 loan Associat~on IVO~AQY PI~I~~IH~Q[`~~Iilat LAR6~
Of Fo~t P:erce. i~'Y G?"A~iSB~N!F.+~~ik~$ r•~5, 14)~
Bw~ded By amwican 8nnkers t'nu~~oe uo.
Fort Pier~e, Florida •
~ ~ i1i.Ed A!i: H cu~oee
iT. LUCIC :O~NTr fLA.
R:;Cf.': + JiTHAS
This Instrument Prepared By John W. Collins ~~E?~K C,~~t' COURT
R f. C c. ~ t{~~ i E 0...,..,..~..~, ~
First Federal Savings 8 loan Association
of Fort Pierce ~ Florid~ A~ C I( ~ Q k 6 a u ~
J~jz
N Y V Il /'c,
. Cnecked By ~ ~ '
TI~VI f
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