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HomeMy WebLinkAbout0474 ' 3. To place and cont~nuously keep on the b~i!d~ngs now or hereefrer ~~tuate on sa~d ~~nd and on all equ~pment and peno~a~ly tove~ed by this morly- sg~, w~~h al) pre~~ivms thereon pa:d in (~ll, fire insurance in the ~sual ~iande~d po~ity form, in s wm approved by the MORTGAGEE, a~d windstorm cnsuro~ce 1n tM uswl ~~andard poGcy 1orm, in • sum approved by ~he MORTGAGEE, in ivch company or compsnles ~s the MORiGAGEE ma~ direct; an~d alI fi~e and w~ndstorm iniurance pol~ues on any of said bvild~np~, any interest therein or part thereof, in the ~gg~ega~e sum aforesaid o~ (n ~xcesf ~hcreof, ~hal1 co~tain the usuel standard mortgagea clause or such aFur clauss as ?he Mor~gagee may requtre, makiny the lo» under sa~d pol} cie~, eath and tvery, payabls to ssid MORTGAGEE as ~q i~trresf may appea~, and esch and every suth policy shall be promplly ass gned and delivered to sny held by utd MORIGAGEE as (urther secu~ity to sa~d mor~gage debt, and, not less ~han ten (10) dsys in edvance of fhe expiration ol each policy, to da livsr to said MORTGAGEE s renewal thereof, toye~her with a rece~pt iw t!?e prem~um of such re~ewal; and ~here shati be no f~re a. windstorm ins~~ance~ pl~ced o+? ~ny of seid building~, any inie~est therei~ w part thercol, unleas in the Form and with ths lou payable as aiwesaid; and in ~h~ event any ~~m of money bccome~ payable undrr such policy w poGcies aaid MORTGAGEE ihall have ths opGon lo receive and apply the same on account of the indebted ness secured hereby or to perm;t ?aid MORTGAGORS to rcteive and use it or any part thereof for o:hc~ purposes, v:~+ho~t ~h~~.u~ wa~+~~~:~ or „„p~lr- ing any equity, lien or right under w by virtue of thii morsgage; and in the event ~~~d MORTGAGORS shall fw any reason fail lo keep ~he said p~emis:s ~ insurod, or fail fo delive~ promptly +~y of said policies of insurante to sa~d MORTGAGEE, w fail promptly to pay lully any pre~n;um the~efot or in a y respect fail to perfwm, discharge, execute, effec~, comptete, comply with and abide by this tovenanf, w any part hereof, said MORiGAGEE may plscr a~ ~ pay fa such insurante or any pa~t thercof without waiving or affetting any option, lie~, equity, oa righf undcr or by virtue of this Matgaga, a~d t futl amount of each and every such payment shall be immediately due and payable and thall bear interest from the date thereof until paid st the rate ol nine per contum per annum and to~ether with suth interest shall be s~cured by tM lien of thif mwtgage. 1. To permit, mmmit w suffer no waste, impairment w deterioration of said property w any part thereof. 5. To pay all and singular the costs, charges and expenses, includinq a reaso+iable attorney i fee and costs of abstractt of title, incurred w pa~d at any fime by sa~d MORTGAGEE, because or in tF+e event of ihe fa~lure on the par~ of ~he said MORTGAGOR to duly, promp~ly and fu11y pe~(wm, d~scharge, zxecute, e(fect, complete, comply w~th and ab:de by each and every the srip~lat~ons, agreements, conditions, and covenanrs of seid p~omissory note and this mo~tga~e any w ei~hev, and sa~d costs, charges and expenses, exh and every, shall be immediately due and psyable; whether a not there be notice de mand, attempt to cotlect or suil pend~ng; and the full amount of each and eve~y such payment shall bear interes~ from the date tFKreof un?il paid at Ihe r.~te of nine per cenwm ~r annum; and all said costs, charges and expenses incurred w paid, together wAh suth interest, shall be secured by the lien of thii mort9~s. 6. That (a) in 1he eve~t of any breach of this Morlgaga or defautt on the part of the MORTGAGOR, w(b) in the eve~t any oF satd sums of money herein referred to be ~ot p~omptly and fully paid w~thin Ihirty (30) days next after the same uverally become due and Qayable, wiihout demand or notice, or (c) in the event each and every Ihe st~pu~ations, agreements, conditions and covenants of sa.d promissory note and th~s mortgage any o~ ei~her are not ~uly, promptly and ivlly performed, d~scharged, executed, effected, completed, complied wi~h and ab~ded by, then in either or any such event the sa~d ag gregate sum mentaned in said promissory note then remainin~.unpaid, with interest acuued, and all moneys secured hereby, shall become due and pay- ab!e torthwith, a thereafter, af the opt~on of said A~10RTGAGEE, as fully and completety as if all of the said sums o; money were o~iginally stipuiated to be paid on such dty, anything in sa:d promissory note or in lhis Mwfgage to the tonlrary notwithslanding; and thereupon w the~eafter a1 the opt~on of iaid MORTGAGEE, without notice or demand, suit af law w in equ~ty, thereFore or thereafter begun, may be p~osecuted as if all moneys secured hereby ; ned matured pr~w to ns institution. ' 7. That in the event tF~at at the beginn~ng oi or at any time pending any suit upon this Mortgage, w to fweclose iL w to reform it, or to enforce payment of any claims here~nder, said MORTGAGEE shall apply to the Covrt having jur+sd~ction thereof to? t1~e appof~tment of ~ Receiver, such Cou?t shall for~hwith appoint a receiver of said mortgaged property all and singular, includ~ng all and s~ngular the income, proi~ts, iuues and revenues from whatever seurce derived, each and every of whrch, it being expressly undersrood, is hereby mortgaged as if speci(icaHy set forth and dewibed in the yranting and- habendum clauses hereof, and such Receiver shail have all the broad and effective func~~ons and powers in anywise entru~ted by a Court to a Receiver, and a~ch appointment shalt be made by svch Court as an admitted eq~ity and a inatter of absolure right to said MORiGAGEE, snd without relerente to the ac+equacy or insdequacy of the value of the praperty mortgaged or to the sot~rency or insotvency ot said MORTGAGOR or the defendants, and that such renis, profits, income, issues and revenues shail be appiied by such Rece~ver according to the lien or equity of said MORiGAGEE and Ihe practice of such Cour1. 8. To duly, promptly and fully perform, discharge, execute, eifect, comp~ete, comply with and abide by each and eve?y the stipulations, agreements, conditions and covenants in sa~d promissory note and this mortgage set forth. S 9. That in the event the ownersbip of the mortgsged premises, or any part thereoi, becomes vested in a person other than the MORTGAGOR, the } h'.ORTGAGEE, its successors and assigns, may, without notice to the MORTGAOR, deal with such successo~ or successor in interest with ~eference to this ? mortgage and the debt hereby secured in the same manner as with Mortgagor without in any way vitiati~g w d~xha~ging the Mortgagors' liability hero- E under or upon the debt hereby secured. No sale of the Fremixs hereby mortgaged and no fwbearance on the par~ of Ihe MORiGAGEE w its successws or assigns and no extension o} the time for the payment of the debt hereby secured given by the MORTGAGEE or its successws or au;gns, shal) operate i io releau, discharge, modify change or af(ect the original lisb~i~ty of the MORTGAGOR herein, either in whole w in part. j F 10. h is speci(icaily agreed that time is of the essence of th~s contract and ~hat no waiver of any obllgat~on hereunder or of the obligation se- 9 cured hereby shall at any time thereafter be held to be a waiver of the terms hereof w of the instrument secured he~by. i 11. In add;t;o~ to the forege'ng month!y payments of princ"pal and interest required by the prom~swry note s`cured hxreb~r, mortgagor covena~ts ~ and agrees to pay to mo*tgagee w~th each monrhly payr.,ent an add~nona~ sum est~n~ated by mortgagee ro be equal to 1/ 12 of the annual cost of the follow- ~ in~: A-All real property taxes lev~ed or assessed agai•sst the above desvi,~,ed real estate. B-Prem.~urns on fire and w~ndstorm ~nsurar.~e as here~n requ:red to be carried on the improveme~ts situate on !he above described premises. C-Premiums on such mortgage guaranty ir.;ura~~ce as mo+tgagee shall fron: t~me to time deem 1i1 to carry on the loan setured hereby_ Mortgagee shall from tirne to time notify mortgago~ in writ~ng of the amount due and payable hereunder and such sum shall thereupon be due and t ;.ayable on the due date cf rhe ne~et month!y payment rnd each iuccessive month thereafter unril mwtgagee shall notify mortgagor of a change in such e^~.o~nt. $uch sums sha~l be app!ied by mortgagee toward the payment of real property taxes, iosurance prem;ums, a~~d mortgage guaranty iosurance ' r~emiums. - 0 ` IN Y/ITNESS WHEREOF, the said MORTGAGCk has hereunto set his hand a~d seal the day an~' year first aioresa ; j Signed, Seaied and delivered in the presrnce of: r;l~~ ~ X sq : ( _ Charles F. S henson ~~a~ _ k ^ ~ ~,v s~ Marian H. S ephenson «a~~ _ _ (5ea~) SiATE OF FLORIDA ~ ~ COUNTY OF St. L.L1C1E ~ i ~ Befwe me personally appeared Charles F. Stephenson a~ ~ Marian H. Stephenson his wife, to me well known and known to me to be rhe ind~viduals desuibed in and who executed the fw oi instrument, and acknowledged before me that they executed the same for the purposes ~ rherein expressed. And the said Marian I~ ~tephenson ~ ' Charles F. £ s~ife of the said Ste~-henson upon a xpa~ete and.private ; ~ eaam~nation by me taken separate artd apart from her said husband, acknowledged to and beforc me that she executed said instrumem freely.and:vlltuo-• ? rar~ly and w:ttw~t any compulsion, constraint, apprehensi or fear of or from her said husband_ ~ ~ ^3 WITNE55 my hand and official seal this_ day of Se tember ~•sy~~'~q7~;--. _ " . 3 ~ , . _ 26~739 Notary Public in end for t Stafe~o FIlA a.~Lirp'R.~~~,~~ " - My Commission expires: ~ Q+f~•f' ~ ~ - . ~ ~ Return To: ' ; ~ ~ ~ ~ ~ ~ . ~ First federal Savi s 3 Loan A:sosiation ST L~ ~ ~ ~y Fll[Q Al1: ~ Q~aEO ~ ~„iPi 1~:. STAFE ~ ~(I'i~, ! ~E , J : . ° *i O( Forr P.erce. • ~4ri~t ~~V1~TY FLA. . . • r77 ~ q~ ~ ROCt ~ ?Qt'~,1 ' ' ' ' ~ • ~ ~ ~ fort P~erce. Flor~da ~~~RK `~VIl ~Q~RT ~ .........r uy w~d'~d:~o~ ~J ` ~a ' 2 ~ P~~ ^ '`r":f tEp - ~ I-1'~~ J . ~ ~T 9 a ~ /~~~`''~Srr~ti~~K ~'~~``L`:. ~ This Instrument Prepared By ~iCRd~~Q ~~ayes - ~ ~ f; . First Federal Savings 8~ Loan Association ~ ~ `i~ ~ . - of Fort Pierce, Flozida ' y ~ ' ~ Checked By~ 5 ~ BGOK ~ ~'A~E 474 rx ~ ; ~ - - - - - - , - ~ ~.L-- _ ~ ~ _ . . . - - _ ~ .