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HomeMy WebLinkAbout1774 3. To piace and co~~inuovsly keep on the bui!d~~gs now or hereaf~er situate on s~~d land ~nd oe~ ~II equipment and pertonally covered by thi~ ma1g~ ags, with •11 premivmi ~hereon pa~d in full, fire insurance in ~he usual s+andard policy fam, in • sum approved by 1he MORiGAGEE, a~d windi~o~m Inw.ance In ~M usual iundard pol~cy fam, in a sum approved by ~he MORTGAGEE, in ~uch company o~ compan~cs as the MORTGAGEE r+eay diract; at+d all fire and w~nd~to~m insu~a~ce pol~cies on ~ny of iaid build~npa, ~ny interesl therein or pa?t ~hereof, in tM a~~eg~te tum ~fores+id w in exceu Ihereol, sMll contai~ the usuel standar;l matgages tlause a such othe~ clauis os th~ Mwtgage~ may require, ma?inp ~hs ~oss undc~ sa~d poli~ c~e~, e~ch and every, payabls to u~d MORTGAGEE a~~s interest may •ppe+~, and e~ch and e~e?y such policy shall be promptly ass gned ar+d delivered to any heW by s~id MOR(GAGEE +s fur~her sccu~ity ~o aaid mor?gage debt. •nd. ~ot leu ~han ten (10) dayi in advance ot ~he expirotion of e+ch policy, to da liv~r to ~s~d MORTGAGEE a renewai therwf, top~~her with a receipl fw IM premium oi iuch rer+ewal; and there sha11 bs no f~re o~ winds~orm insv~anc~ plst~d on ~ny of uid b~:ildings. ~ny in~erest theroin w part ~hereof, tmless in IM fwm ~nd with tM lou payabl~ as ~for~said: ~nd io t}K ev~nt a~y ium ~ of monsy become~ payable unde~ such policy w policies uid MORTGAGEE shall Mve th~ opt~o~ lo receive and appiy the s+me a? ~ccount ot tM indeb~ed- # ness secured hareby w ro permit ssid MORTGAGORS b rcteive and u~s it p any parl 1F.eroof fa othcr purposes, witMut tharcu/ wai~~n~ o~ unpah- ~ ing a~y equity, lien w ~ght under or by virtw of this morsgage; and in the ~ve~t uid MORTGAGORS tha~l fw any reason fail ro keep ~he said premisrs w insu~ed, or f~il to deliver promptly ~ny of said pol~cies of in~uranc~ to said MORTGAGEE, w fail promprly lo pay fully any premi~m therefo~ w in a~y , reapect fail ro pertorm, discharge, execute, effecl, complete, comply w~~h ~nd abide by thit covenan~, or any pa~t he~eof, sa~d MORTGAGEE may place and pay ta such imuraoce or any pa.t thereof without w~iving or ~ffecting any option, lisn. eqv~ty, w r~gh~ under or by virtw of thi~ Mortgage, and ths fult amount of each arn! evsry ~uch payrnent sFul) be immediately due and payabls ~nd shall bear interest from the date Ihereof until paid at tht rate ol n~ne per cenwm per annum and to~ether with such iroe~est shall be secured by ths li~n of thi~ mwtgage. i 1. To permit, commit or iuffe~ ~o waste, impairment a dNeraration of said property w any parl thereof. p S. To pay all and singulu the costs, char9es and expenxs, including a reaso~sble ~ttaney i fee and costi of abs?racri of tiNe, incuned a pa~d at ~ any time by uid MORTGAGfE, because o~ in the event of the failure on thc part of the said MORTGAGOR to duly, promptly and tutly perfam, d~uharge. execute, effed, complete, comply w~th and ab~de by each and every the atipulat:ons, agreemenb, conditions, end covenants of said p?omissory note and ~his mortgaye any w either, and sa~d costs, clurges and eapenses, each and every, si?~II bs immediatety dw and payabte; whether w not there be notice do- mand, attempt to collect a wit pend~ng; and the full amounf of each and eveiy such payment shall bea? interest from the date thereof until p~id +1 the rate of nine per cenrum per an+~um; and atl said cosb, charges and eapenses intwred w paid, together with such interest, shall be secured by the ~ien of thi~ matyaqs. 6. That (a) in the event of any breach of thii Mortgsge o? defaulf on tM part of the MORTGAGOR, or (b1 in the ~vent soy of said iums of naney herein referred to be not promptly and fully paid within thirty (30) days next after the same uverally betome due and p~yable, without demand o~ notite, or (cj in the evero each and every the stipulationa, agreemcnts, co~ditions and covenants of sa~d promisaory note• and th~s morlgaye any w eithe~ are not ~uly, promptly and fully per(amed, diuharged, executed, effectcd, completed, complied with and abided Sy, the~ in either w any such event the sa~d ag gregate sum mentioned in said promissory no?e then remaining unpaid, witA interest acuued, and ail moneys secured hereby, shall become due and pay abie fathwith, w thereafter, at the option of said MORTGAGEE, as fully and completely as if all of the wid sums of money were aiginatly sGpulated ro be paid on such day, anything in sa;d promissory note or in this Mortga9e ~o the contra~y notwi~hatanding; and thereupon or thereafter at the op~~on of, said MORTGAGEE, without notice or demand, suit at law or in equity, therefwe or thereafter begun, may be prosecuted as if all nwneys setured hereby had matured pnw ro its inst~tution. 7. Tha1 in the event that at the beginning of or a1 any time pending. any suit upon this Mortgage, w to fwetlox it, w to refwm it, or to enforce payment oF any claima hereunder, said MORTGAGEE shall appty ro the Court having ju~isd~aion thereof for tFK appointmeM of s Receiver, suth Court shall Forthwith appoint s rcceive~ of said mwtgaged property all and singular, includ~ng all and singular the income, p~oi~ts, iswes and revenues from whatever seurce derived, each and every of whKh, it being expressty underatuod, is hereby mwtgaged as if spec~(ically set fath and dexribed in the gran~ing and habendum cleusa hereof, and such Receiver shal{ have all the boad and effective funct~ons and powers in anywise entrusted by a Court to a Receiver, end such appointment ahall be made by suth Court as an admitted equity and a matter of absolute right to said MORTGAGEE, and without reference to the adequaty w inadeq~racy of the value of the propc~ty morigaged or to the so~venty or insoivency o( sa~d MORiGAGOR d the defendants, and that such rems, profits, income, issues aru! revenues shalt be app~ied by such Receiver accwdmg to the lien ot eqvity of said MORTGAGEE snd the practice of such Court. S. To duly, promptly and fully perform, discharge, execute, effed, complete, comply with and abide by eacF~ and every the stipulat+ons, agreements, conditions and coveoants in u~d promissory note and ih~s mortgage set fwth. 9. TF~at in the event the ownership of the rtwrtgaged premises; o? any part thereof, becomes vested in a person other than the MORTGAGOR, the MORTGAGEE, its succeuors and ass~gns, may, wirhout norice to the A10RTGAOR, deal w~th such succeuor or succeasor in interest with reference to this mortgage and the debt hereby secured in the same mannet as with Mortgagw without in any way vitiating p d~scharging the Mortgagon' liability F?ete- under or upon the debf hereby secured. No sale of the premises hereby mortgaged and ~o forbearance on the part of the MORiGAGEE or its successors or aasigns and no extension of the time for the payment of the debt hereby secured g~ven by ~he ~AORTGAGEE or its successon or auigns, shall operate to releax, d~scharge, modify change a affea the original liabil~ty of the NIORTGAGOR herein, either in whole or in part. 10. It is speufically agreed that time is of the essence of this controct and that no waiver oi any obl~gar~on hereunder or of the obligation sr cured hereby shall at any time ihereafter be held to be a waiver of 1he terms hereof o~ o! the ins?rumem aecured herby. 11. In add~uon to the forego~ng mpnthly payments of princ pal and in?erest required by the prom[ssory no!e secured hereby, mortgagor covenanfs ard agrees to pay to mortgagee vvith each monthly payrnent an add~r~onal sum est~mated b~ mwtgagee to be equal to 1 j 12 of the annual cost of the follow- ! usg: r 4 A-All real property taxes levied or asseued against the above detcribed real estate. ~ B-Prem~ums on (ire and windstorm insurance as he~ein requ;red to be ca~ried on the imFrovements s~tuate on the above dtscribed premises. C-Premiums on such mortgage guaranty insurar~ce as mortgagee shatl from f:me to time deem tit to tarry,on the loan secvred hereby. Mortgagee sfiail from time to t~me notify mortgagor in writ~ng of the amount due and payable hereundcr and such sum shall thereupon be due and ! F a~able on the due date of the next month:y payment and each successive month thereafter urti! mortgagee shall notify mortgagor of a change in such a•~,ount. Such sums sha:l be applied by mwtgagee toward the payment of real property ta:es, insurante prem.ums, and mortgage guaranty insurance j p~emiums. ~ ~ IN Y~ITNESS WHfREOf, the said MORTGAGOR has hereunto set his hand and seal ay artd year first sforew' • ; Signed, Sealed and delivered in the presence of: ~ ~f ` ~ ~..ty tf"~ an ( _ Pa ho n' i cx+p ! ' Sea~ ~ l •~fi(~ eannette . Lewis ~aq - ~ SiATE OF FLORIDA ~ St• L.L1C7.@ ~ ; COUNTY OF _ Before me penonally appeared Paul Anthony Penniman. Lewis a~ Jeannette E~ I.Q'IN13 his wi1e, to me well known and known to me to be the individuals described in and who executed the foiegoing instrument, and ackrwwledged before me that they e:ecuted the same for the purposes Jeannette B. Lewis tFerein exp?essed_ And the taid ~ ,Nife of the said Paul Anthonv Penniman Lettis upon a separste and p~ivste examinat~on by me taken separate and apart from her said husband, atkrawledged to and before me that she executed said instrument freety and volun- ~ tarily and withovt any compuision, constraint, apprehensim, or fear of rom said husband. . WITNESS my hand and official seal this y dsy of Au t ~.,4~11~"~~~ ~ ``'`C E R .y ~ Notary Public m and (or the State of FI@i?dp ~•t~rpq~ ~ My Commiuion expirey : ~G~,-, r ~ ' ; - ~ . . Return To: • ' ' ~ r ~ First federsl Savings 3 Loan Associat;on ' t~~ . STF YE' fIQR~~ ~ V~~= Qf Forf Pterce- ~ . ~ „r~1 ~ ; Q ~ ~ ~ ~ Fort Pierce, florida 261519 ~ ~ ~ ~ ~ ; -03~ O~ ~ t ~ I', ~ , t~T~..•r••' C~ ~ r : ~'ryJ 1~T C 0~ T 1\~Z` ~ This Instrument Pre ared B R p ANp RfCOi~ ~'"'M' •''ti~~~~ ~ p y J. H. oberts JY ~ ~ ~ First Federal Savings & Loan Association ~ ~•Li1~~E ~~n~n ` ~ , of Fort Pierce ~ Florida ~~EpK ~IRCn T~~` f REGOaO VERiFfFO~..~¦j~ Checked By ~ ~ `13 ~ t~~ ~ ~QQK~~ / PAGEI~~U ~3 ~ ~ Il 7 ~ ~ _ ' _ ' ' _ ' _ ' _ ' ~ ~d.'r~`s -~~`~,....~h,_ _,_a..._ _ ~~'_.d-... '