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HomeMy WebLinkAbout0195 3. To place and conrinuoutily keep on the bui:din9e now or herea:rer ~ituate on said land and on alI equlpment and personally covered by this mwtg- egs, wi?h all p~e~u~ms thrreon oa d irt iull, }]re ~ntiuranca in the u~ual stenda~d po~icy 1o~m, in a aum approved by Ihe MORiGAGEE, and winJs~orm ~~wran~e in the usual srand~.d pol:cy io~~n, in a wm approved by the MORTGAGEE, in such company or companies ss ~he MORTGAGfE may direttj and all (ire ar:d wlnd»orm insurance pol~c~es on any of said bu~ld~ngs, eny in~erest ~herein or pa~t thereof, in ~he aggrege~e s~m afweiaid w in excesf thereof, shall conta~n ~he usu,+l atandard mortgegue clause or such o~her claus~ as t~e Mor~gagre may requ~re, mak~n9 ~he losa unde~ sa~d po~~ c~e~, each a~d every, payable ro sa~d MORTGAGEE as its interes? may appear, and each and every such policy shalf be prompNy ass g~ed and delivered ~o any held by said MORTGAGEE ss fur~her secu~ity to ~aid mo:tgage debt, and, no? tess than ten (10) days in advance of the ezpiration of each policy, to da liver to said MORTGAGEE a ranewal thereo(, toge~her wifh a receipl fw the prrmium oi suth renewal; and there s?wfl be no Gre o~ wiods~u~m insurance plated o~ ~ny of said buildings, any interest therein d parl thereoF, unlesa in the iorm and with Ihe loss payable ai aforesaid; and in the evant any sum of money be<omes payable unde~ such policy or pol~ciea said !l!ORiGAGEE ahall have ~he tpt~on to recaive and apNly the same o~ accou~~t of ~he indrbtrd~ nesf secured hereby w to permir sa~d A10RTGAGORS to receive and uss it or any part ihereof for o:i~c~ pu~~~oirs, v.~~hout th_~eu~ :va~~~.7 or u~,p.,~r- ing any equity, lie~ oa ~iyht under w by virtue of Ihis morsgage; and in the evcnt u~d MORTGAGORS shall fw any reawn fail to keep 1he said prem~srs so inwre~, w fail ro deGver prompdy any of said poliues of insu~ance to sald MORTGAGEE, w Fa~! pro~~~pHy to pay fu~ly any pre~ni~m ihcrcio~ or in any ~e~yect fail to perfam, d~scharge, exec~te, effec~, completr, comply wi~h and abide by this covene~t, or any pe~t hzrcoi, said MORiGAGEE may placa a~d pay fw such inwrance or any part thereof w~thout waiving w affetting any option, lien, equ~ty, or righ~ under or by virtue of ~his Mortgage, and the f~it amounl oi each and cvery ~uch paymenl shell be immediately dve and payable snd shall bear interest from Ihe dale tl~ereo( unsil pa~d at the rate ot nme per ceotum par annum and to~e~hcr with wch inrerest shall fx secured by the lien of this morlgage. 1. To permit, commit a suifer no waste, impairment w deterioration of said property o~ any_part thereof. S. To pay all and singuta? the costs, charges and eaipenses, including a reasonable ananey's fee and cosrs oF sbstrac?s of tit!e, incurred or paid a~ any time by ea~d MORTGAG'E, because o? in ?he event of ihe fa~lure on ~he parf of the said MORTGAGOR to du~y, promptly snd fu~ly perform, d~uharge.. execure, et(ect, complete, comply w~th and ab:de by each and every the stipulet~ons, agreements, conditions, and covenants of sa~d promissory note and thii mort9age any or eithe~, end eaid costs, charges and eapenses, each and every, shall be immed~a?ely due and payable; wherher or not there be notice dr mand, attempt to coitect or suit pend~ng; and ~he full amount of each and every such payment shall bear interest irom the date thereof unril paid at the .:,re of nine per centum per enn~m; and all said costs, charges and expenses inturred a pald, together w~th such iroetest, shall be secured by the lien of .this morfgege. 6. That (a) in the event of any breach of this Mortgage or default on the part of the MORTGAGOR, or !b) in the eveM any of sa~d sums of money he•ein referred to be rat promptly and (utly paid wifhin th~rty ~30) days nex~ afre~ the same severally become due and payable, w~~hou~ demand or notice. or (c) in the event each and every 1he slipu~ations, agreements, condifio~a and covenants of sa:d p~omiswry note and th~s mo~tgage a~y or e~ther are nol ivly, prornptly and luily performed, d~scha~ged, executed, effected, completed, compl~ed w~th and abided Sy, thea in e~ther a any such erent the sa~d ag- grcyate sum mentioned in said promisswy note then ?emaining u~paid, with interest accrued, and all moneys secured hereby, shall become due and pay- ab:e fo~lhwith, a theree{ter, at the option of said MQRTGAGEE, as (ully and completely as ii all of the said sums oi money we~e onginatly supulated to be pa[d on such day, anything in sa!d prom~sswy note w in this Mortgage to the contrary notwithstand~ng; and thereupon or thereafter at the opt~on of sa:d MORTGAGEE, without notlce or demand, suit at law or in equ~ty, therefore w thereafter begun, may be prosecuted as if ail moneys secured hereby nod matured pnor to us institut~on. - i 7. That in lhe event that at the beginning o( or at any time pending any su~f upon this Mo~tgage, or to foreclose it, or to reform i?, or to enfo~q payment ol any cla~ms hereunder, soid MORTGAGEE shall apply to the Cour~ having jm~sd~ct:on thereof lor the appo~~inneM of a Receiver, such Court shall ic-thwith appoint a receiver of said mortgagad p~operty all and singular, includ~ng att and si„g~Ia~ the income, proi~ts, issues and reven~es from whatever s~~rce de~ived, each and every oF wh~ch, be~ng expressly understood, is hereby mongaged as it spec~ficaily set fath and dewibed i~ the graoting and h~i~endum clauses hereof, and wch Receiver shall have all the broad and effeU~ve funct~ons and powe~s in anywise emrusted by a Court to a Receiver, and ~ s. ch appoinrme~it shall be made by such Cou~t as an admi~trd equity and a matter of absolute r~gM to said MORTGAGEE, and without reference ~o t1~e ~ edeyvacy or inadrquacy oi the value of the property mortgaged or to rhe sotvency or insoivency o( said M~RiGAGOR w the defendams, and that svch renu, profits, income, issues ancl revenues shaU be applied by such Receiver accwding to the iien or equity of said MORTGAGEE and the practice of such Courf. 8. To duly, promprly and fulfy perform, d~scharge, execut~, effect, complete, comply with and sbide by each and every the stipu:ations, agreements, :onditions and covenanrs in sa~d pramisiory note and this mortgage set forth. 9_ That in the event the ownership of the mortgaged premises, or a~~y part thereof, becomes vested in a person other than the MORTGAGOR, the h'.pRTGAGEE, its sutcessors and assigns, may, without notice to the MORTGAOR, deal with suth suc:essor or successw in interesf v~ith refercnce to this n;ortgage and the deb~ hereby sec~red in the same manr.er as with Mortgagor without in any way vitiating or dixharging the Mortgagori liability hero- u~der w upon the debt hereby sec~red. No sa:e of the premises hereby mortgaged and no forbearance on the par~ o( the rAORiGAGEE w its successors o. assigns and no eatension of the time for the payment of the debt hereby secured given by the MORTGAGEE or its successws w assigns, sliall operate ' ro release, d~scharge, modify change w affect the orig~nel liab;l~ty of the MORTGAGOR herein, either in whole or in part. 10. It is speufically ag.eed ~hat time is of the essence of this contract and that no waiver of any obf~gat~on hereunder w of the obligation sr cured hereby shall at any time thereaher be held to be a waiver of the terms hereol u of 1he instrument secured herby. 11. In acid,tion to the fwego ng month!y paym~nts of princ pal and iMerest requ~r~d by the prcm:ssory note secured hereby, mortgagar tovenants ' a~ d agrees to pey to mortgagee with each monrhly payrnent an add~~ional sum est~mated by mortgagee to be eq~al to 1,' 12 of the annual cost of the foltow- n3: A-All real prope.ty taxrs levied or assessed against thc above described real estare. B-Prem~ums on f'ue and windstunn ~nsurac~e as here~n rcqu~red to be ca~ried on the im;,rovements s~tuate on the above d_stribed premises. C-Prem~wns on such mortgoge guararoy ir.surarce as mortgagee shall from tlme to time deem fii to tarry on the ban secured hereby. Mortgagee sha~l irom time to t~me notify mcrtgagor ~n writ~ng of the a~nount d~e and payable hereundar and s~ch sum shall thereupon be due and ;.~yable on the d~e ciate of the next month:y payment and each successive month thereafter ur.til mortgagee shalt notify mortgagor of a change in wch :.ount. Such sums sFa~l be appi~ed by morrgagae ~ovvard the payment of rea! prope~ty taxes, ins~rance prem:ums, and mortgage g~aranty insurance c~emiums. ! IN YIIINESS WN~REOF, the sa~d MORTGAGOR has hereunto set his hand and seal the day and year first aforesaid. ~ ` t- Sig Se~ and elivered in the presence of: ~f~~~ ~ -s'~~ Seaq E witn ss Otto H. Madorie, Jr. ~ - (Seaq ~ ` ,Ll! - - i7 ~ r -Z-~-;- (s~ai) ~ Witness la Ma,e P. Madorie ~~ai~ s ~ ~ STATE OF MSYj/~dt1E~ • COUNFY dfi 1 ~ ' ^ ~ ~ ~ ~ Otto N Madorie Jr 2 :'~sfoie me per~onaU,y' ' ared • • . and ~ , : ~ - Ila Mae P. Madorie ~ ' his wi~e, to me we~l known and known to me fo be the dividuais desCribod i0 ~nd who executed the (or ing instrument, and acknowledged before me that they executed the ~ame for the purposes ~ _~rs~~~ e pressed. Addr~' :t~d_- Ila Mae~. Madorie t~ Otto H. Mador e, Jr. w~p C~ tlie ~aid V upon a separate and privste ti exa~v~+at~on by~me,~la~~separale and apart from ber said h~si>and, acknowledged to and before me 1F~at ~he xetuted said instrumeM freely and vofun- ~ ~ r~p~y'~~w~thpnt~~j. compulsion, constraint, apprehens~on, w~ of or from her said husband. ~ . , ~ ~ ~..~IjNE~~~ k~ix! and offiual seal this_ - day of $e tQaber A. D 19 73 t~~I1t::~~•..,i;;~. _ ~ _ G't~2 Notary PubT" in end fw the SWte of at large My Com i ion expires: C~/ Return To: r ~ i First Federal Savings b Loan Aisociat;on ~ ~ Of Fort P.erce. E =t ; " Fort Pierte, fiorida ,4. ~ t r fILEO AK^ ~EC~~OED ST.lUC4i. C~UMtY iU. ` ' This Instrument Prepared By Gary F• Ell~rood ROGfp ~~~tP~g ~ ~ ~ First Federal Savings d~ loan Association C! E?! Gt=•;,~Nt COU~1 of Fort Pierce ~ Florida Rcr,nA~ v[=•~iEO _ Checked By ~ Z~ `O 24 $ ~y - 264533 ~ ~ ~ BODK~~+~ f~f~ sb ~ . ~ ~ ~ n . ' , _ = - . ~ W.. _ .