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HomeMy WebLinkAbout0203 • 3. To p~ace a~d co~t~nuously keep on the bui!dings now or hereafte~ iiwa~e on said land and on all cqu~p~nent a~d personalty covrred by this mw~g- egs, wi~h all prem~ums thercon pa~d in lu1l, Gre insu~a~ce fn ~he usual s~andard po!rcy form, in a s~m approved 6y ~he MOR~GAGEE, and winds~o~m ~nsura~ce in tM usual standard pol:cy form, in • tum appioved by the MORTGAGEE, in such comp~ny or compan~es as the MORTGAGEE msy direch and all tirs and w~ndsto~m iniurance polic~e~ on +ny of fe~d build~ngs, +ny intere~~ thercin o? part Ihe~eol, in the aggregste sum afaeia~d o~ In excess thercof, ihall contain the usual standard moregagee dause w such other clause at the Mo+tgagee mey ~equ~re, maling ths loss undN aa~d poli- ues, each ~nd every, payable ~o ia~d MORTGAGEE as ~ts imerest mey appear, arx! each and every such po!~cy shall be promp~ty ass g~ed a~d de~ivered ~o •ny held by sa~d MORIGAGEE at (urther security to said mortyage debt, and, nof less than ten (10) days in advance of the expi~et~on ot each pol~cy, to da liva to taid MORTGAGEE a renewal the?cof, toge~her with ~ receipl for ihe premium of such ~enewal; and there shall be no f~re or winds~o~m insura~ce plscad on any of said buildings, any interest therein o? psrt thereof, unless in 1he form ind with the loss psyable as iforesaid; a~d in the event any sum ` of money become~ payabte under such policy or poGues said MO~TGAGEE shall have ths optwo to receive and apply the san~e on acco~nt of the indebted I neu secured hertby o• to permit faid MORTGAGOR$ to reteive and use if w eny parl thercof io~ otn.,~ purµosra, ~vith<.~t th_.~ ur wa~+i ~g u unpain ~ ing a~y equity, Iien or righl under or by yirtue of this mo:t9age; ~nd in ~he event sa~d MORTGAGORS shall fw any ~eawn fail to keep the sa~d premises so ; insurtd, or fail to deliver promptly any of sa~d poiicies of insurance to se~d MORTGAGEE, a fa~l promptiy to pay fufly any prernium theretor a i~ a~y respect (ail to perfpm, discharge, e:ecute, elfecl, comp~eta, comply with and abide by this covenartt, a any parl h.-rcof, sa~d MGRiGAGEE may p~ate snd } pay fo~ suth insurance or any part thrreof without waiving or af(euiry ~ny optwn, lien, equ~ty, or right under w by virtue of ehis Mortgage, and the full amovm of each and eve~y such payment shall be immedia~ely due and payabte and shall bear interest from the date thereof until pa~d at the rate of nine p~r tentum per annu~n and to~ether with such inte~est shali be sttured by the lien of this mottgage. 1. To permit, commit or sulFer no waste, impairment w deterioration of said propetty or any psrt thereof. } S. To pay a!1 and singula~ the costa, chargei and expe~us, including a reasonable at~aney's fee and costs of abstracts of title, incurred w pa~d at a~y time by aaid MORTGAGEE, because a in the event of the (a~lure on ~he part of ~he said MORTGAGOR to duly, pron,ptly and fu11y perfum, d~scharge. execute, etiect, comptefe, compty w~th and ab:de by each and every the sfipulanons,'agreements, conditions, and covenants of said promissory note and thii mortgsye any or eitFur, and utd costs, charges and expensee, each and every, shall be imrr.ed~ately due and payable; whe~her a not there be not~ce dr mand, attempt to coUect or suit pend~ng; snd the full amount of each and every such payment shall bea. interest from the date thereof until paid a? the rate of nine per centum per am~um; and all said costs, charges and expenses intu~red or Faid, togethe~ w~th such inte~est, shaU be secured by the Gen of this mortysy~. 6. That (e) in the event of any breach of this Mor~gage a default o+~ the part of the MORTGAGOR, a(b) in the event eny of uid sums of money herein refer~ed to be not prWnptly and fuily paid within thirty (30) days ncxf after the samc xverally become due and payable, without dema~d or notite, or (c) in the event each and every the stipulationa, agreements; conditions and covenants of sa:d promissory note and thn mortgage any o~ either are no1 ~uly, promptly and fully pe~formed, d;scharged, executed, efFected, completed, compl~ed w~th and abided by, then i~ e~ther w any such event tha said a~ gregate sum mentio~ed in said promisswy note then remaining unpaid, with interest accrued, and alt moneys setvred heteby, sha~~ becort+e due and pay- ab~e forthwith, a thereafter, at the option of said MORTGAGEE, as fully and completety as if all of the said sums of ~ioney were onginally tt~pulated to be paid o~ such day, anything in sa;d pro,nisswy oote or in this Mortgage to the contrary notwithstanding; and ~hereupon or thereaftcv at fhe option of sa;d MORTGAGEE, wirhout not~ce o~ demand, suit at law or in equity, thereiore or thereaftcr begun, may be prosecuted as if all moneys secured hereby had maturtd pnor to As ~nstitution. 7. That in tl+e event that at the beginn~ng of w at a~y time perxling any suit upon this Mortgage, or to (weclose it, or to reiam it, or to enforce payment of any claims hereunder, sa;d A10RTGAGEE shalt apply to the Court having jurisd~ction thereof for the appointment of a Receiver, such Cour1 shall forthwith appoint a receiver of said mortgaged property aIl and singuiar, includ~ng all and singu~ar t`q income, prof~ta, iss~es and revenues from whatever so~rce derived, each and every of which, it being expressly understooi~, is hereby mortgaged as if spec~fically set (orth and desuibed in the granting and habendum clauses hereof, and such Reteiver shall have all the broad and effecrive funct~ons and powers in anyw~se 'entrusted by a Cou~t to a Recriver, and s.,ch appointment shalt be m~de by such Cou~t as an admitted eqvity and a matter of absolute right to said MORTGNGEE, a~d wifhout reference to t1+e ad~quacy or inadeq~acy of the value of the property mortgaged or to the wivency or insolvency of said MORiGAGOR o~ the defe~dants, and that s~ch renrs, profits, income, issues and revenues shall be applied by svch Receiver accord~ng to the lien o? equity of uid MORTGAGEE end the practice of such Court. 8. To duty, promptly and fully pe~form, discharge, execute, effect, complete; comply with and abide by each and every the sTipulations, agreements, conditions and covenants in sa~d promissory note and this morlgage set forth. ~ 9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the h'.ORTGAGEE, its successws and assigns, may, without notice to the MQRTGaOR, deat with such successor or successor in interest with re(erence to this rr.ortgage and the debl hereby secured in the same ma~ner as wiih flb~tgagor w~thout in any way vitiating w d~scha+ging the lAwtgagors' liability herr j under or upon the debt hereby secu~ed. Pto sale of the premises hereby mortgaged and no forbearance on ~he pari oi the MORTGAGEE w its successwa or assigns and no extension of the time for the payment of the debt hereby secured given by the MORTGAGEE or its successors or assigns, ahal) operate ro release, d;xharge, modify chenge or aifect the original liabil~ty of the MORiGAGOR herein, either in whole w in part. 10. It is specifically agreed that time is of the easence of this contrad and that no waiver of any obligation hereunder w of the obligation sr cured hereby shall at any time thereafter be hetd to be a waiver of the terma hereof w of the ir:strument secured herby. 11. In add~tio~ to rhe fwego'ng monthty payments of prirfc oal and interest ~equ~red by the prom;ssory nore secured hereb~, mortgagar covenants and agrees to pay to mo~tgagee wrth each monihiy payrnent an add~~ional svm est~ma~ed by mortgagee to be eq~al to 1; 12 of fhe annual cos~ of the foUow- ,ng: A-A? real property taxes lev~ed or assessed agai~.st the above describcd real estate. B-Prem~ums on iire and winclstorm ~nsurar.ce as herein ~eq~~red to be carried on tbe ~mprovements s~tuate on the above described premises. C-Prem~ums on such mortgage guaranty insure.,ce as mortgagee shall from t me to time deem fit to carry on the ban secvred hereby_ Mortgagee shall from time to t~me notify martgagor in writi~g of the amount due and payable hereu~xlrr and such sum shall thereupon be due and F.ayable on the due date of ihe next moathiy paymEnt and each successive month thereafter ur.til mortgagee shall notify mortgagor of a change in such a~:ount. Such sums shail be appfied by mortgagee rowa~d the payment of real property taxes, insura~ce prem:ums, and mwtgage guaraMy insurance p~emiums. ~ ~ IN Y~ITNE55 Y/HEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and yea first aforeuid. ~ d, Sealed and detivered in e presence of: I aQ - ~ ~ ~,~t$ M Ltmd ~ _ ~ ~ n 3 ' ~ilA C~ ~ 1..1111C~ tSeaD ~ • ~ - . - ~ STATE OF ~1D~OQ a r w~1 G 1r~ ~ r Y• ' , " A t~ ~ ~ ss' : ~ : ouNn oF 1 ~ Befwe me penonally appeared ~u18 M~ LU17d a~ ~ ~ M31V~1'fa C~ L!1lid his wife, to me well known and known to me to be ~ !he individvals desuibed in and who executed the fwegoing instrurrKnt, and acknowledged before me that they executed the same for the purposes ? ~ rherein expressed. And the said ~1V~na C• L'Utld - ~ w~fe of the said ~u~S M• T.11t1t1 upon s separate and private ~ examinat~on by rr.e taken separate and apart from her said husband, atknowledged to and before me that she executed said instrument freely and volun- ~arily and w~thout any compu(san, constraint, apprehensi or fear ot or from her ~d husband. ~ WITNE55 my hand and offiual seal thi ~ day of A. D. 19 ~3 ~ t~ t_-,,~- %~7~ ~li. r< _ Notary Ptiblic in and for the State of F~srii~ at l~r~e ~ y, ' My Commission expires: L'pM,, ~-y Retum To: n,yp , ~ ,'`r First Federsl Savings 6 loan Association 7/4 Of Fo~t R~erce. ~ ~ ~~rj t'~ ,p - , ~ fort Pierce, Florida . C7' " l; c~• . ~~f~ ' yk a~ ~ •C~ .'r ~ „v, . ; FN;i «~F. ~Y i~l: % - ~ ~~LE~~~~ C~U~ ' ~ ' . , f u• This Inst~ument Prepared By J• H. Roberts, Jr. ~ RCS~Y "r~~ RAS : v: ~ - . " ~ ~ First Federal Savings & Loan Association F~, i,i LusT G+JUat - - o f Fort Pierce~ Florida p~ ~ ~ F~ ~ , " v' ~ s~ . 'r, ~ p• - i ~ . . ` pH'73 " - ~ ~ Checked By(_`~ S~ 1l lo ~ F ~ ~ 264 : ~ 53'7 ~ .~s~ . ~ ~ ' BDOK~~~ t'~~c ~.,Ut7 _ ' ~ ~ - - - - - - ~ .