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Home My WebLink About0478 3. To place a~tid conr;ouously kcep on the bui:dings ~ow or hereafter ~it~ate on said ~~nd and on all equipmero and pe~sona~ly covered by this mortg- • sgs, wilh all p~em~umf thr~eon pa:d in iull, fire inwrance in ~he usual standerd polEcy form, in a sum approved by the MOR~GAGfE, an~ winde~orm insurance in ~hs usu~t standa.d po~~cy 1orm, in + ium app~oved by tM MORTGAGEE, in tuch company or compan~es as ~he MORTGAGEE may d~recl; •nd all fire and w~ncJs~orm ~~surance po~ic~es on any of said build~ng~, any interest therein or part thereo(, i~ tM ag9reg~~e s~m aFwesa~d a in excess Ihereof, shall contain the usual srandard ma~gagce clause a such other clauia as the Mwlgagee may requ~re, maMing tlx lo?s u~dr~ sa~d po~i ues, each and every, payable ~o sa~d MORTGAGEE as ~ts imeres~ may appear, and each a~d eve~y such poiicy shall be promptly au gned and de~iverrd ~o any held by seid MORiGAGEE as furtF~r security to wid martgage debt, and, not less Ihsn ten (101 dayf in advance of tF~e e:piration o1 each polity, 1o da liver fo said MORTGAGEE a rertewal ~hercof, ~ogethtr with a receipt for the p~emium of tuch ~ene~al; a.~d there shall be no f~re o~ windsror~n insurance plated on ~ny of said buitdings, sny in~ere~l there~e or pnrt thereof, unless in tM foim and wiih tha loas payab~e as aforesaid; and in the event any sum of mp:ey become~ payable under sutF~ policy d policies said MORiGAGEE shail have the oprion lo reteive and apply the same on attount of ~he indebtrd- ness secur~d hereby u ro permil said MORTGAGORS 1o rcceive and use it or any part thereof for omer pu~pasrs. .•+:~~o~t ~h~~. u~ wa~v~ ~g or ~mpdir- ing +ny equity, lien w~ight under w by virtue of this moztgsge; and in ths eveM ta~d MORTGAGORS shall fw any reason tail to kecp the said premi~as sO ensu~ed, or fail Io deliver promptly any of said pol~ties of insuronce to sa~d MORTGAGEE, or faJ promptly to pay fulty any pren,~um the~efor or in a~r respect fail ro perfwm, discharge, e:ecute, effecl, complete, tomply with and abide by this cove~ant, a any par~ hereof, sa~d MORiGAGEE may place a~~d pay far such insurance or any part ?hereof without waiving w aifecti~ any option, lien, equ~ry, or r~gh~ under w by vi~tue oF this Mortgage, and thc full amount of each a~d every such paymenl shall be immrdiately due and payatle and shall bear intr~esl lrom Ihe data thereof until paid et the rate ol r,ine per centum per annum and tog~~her wifh such interesf shaii tx secured by the fen oF th~i mortgage. 1. To permil, mmmit or suf(er no waste, impairment w deterioration of said property or any part thereof. 5. To pay all and singular tFM cos~s, charges and rxpenses, including a reasonable attwney's fee and cos~s of absrracts of title, incurred or psid ai ; any time by said MORTGAG:E, because w in the event of the failurr o~ 1he part of the said MORTGAGOR to duly, promp?ly and fully perform, diuharqe, r exrcute, effect, complete, comply wi~h and ab;de by each and every the s~ipulat~ona, agreemrnts, conditions, and cuvs~ann o1 sa~d promissory note and this n,ortgage any or e~~her, and aa~d costs, charges and expenses, each and every, shall be immediately due and payable; whe~her o? ~ot there be notica dP mand, sttempt lo coltect or suit pend~ng; and the full amount of each and every such paymenf shali bea. interest (rom ~he date thereaf until paid al the :.+re of nine per cenwm ~:r enn.,:n; and ali said costs, charges and expenses incurted or pa~d, ~ogether w~th such interest, shalt be secured by the lien of tna mortgags. 6. Tha~ (a) in the eveot of any breach of this Mortgsge or default on the part of the MORTGAGOR, or (b) in the event e~y of sa~d sums of money herein referred to be not promptly and fully psid within th,rty (30) d~ys next after the same severally become due and payable, withovt demsnd or notice, e~ (c) in the event each and every the atipulations, egreements, conditions and covenaMS of sa•d promissory note and th,s mortgage any w either are not iuly, promp~ty and iully performed, d:scharged, executed, eifected, compteted, complied with and ab~ded by, tFxn in e:ther a any such event the sa~d ag gregate sum mentioned in said promisswy ~ote then remaining unpaid, with interest accrued, and all moneys setured hereby, shall betome due and pay- abie forthwith, w thereafte~, at the option of said MQR7GAGEE, as fully and completely as if all of the said sums of money were aginally st~pulatcd to be pa~d on such day, anything in sa;d pro~nissay note or in this Mortgage to the conrrary netwithstanding; a~d thereupon w thereafter at the opt~on of ; said MORTGAGEE, without norice or demand, suii at law or in equ~ty, therefo~e or thereafter begun, may be prosecuted as if all moneys secured hereby nad mawred pr~w fo its institution. 7, ihat in the event that at the beginn~ng of or at any time pending any suit upon this Mo~tgage, or to foreclose it, or to reform it, or to enforce payment of sny claims hereunder, said MORTGAGEE shall apply to the Court having junsd~crion thereot for the appomtment of s Receivar, wch Cour1 shall forthwith appo~nt a receiver of said mortgaged properfy all and singu~ar, inctud:ng all and s~ngular the incoine, prof~ts, issues and reve~ues from whatever scurce derived, each and every of w!~ich, it being expressly undersrood, is hereby mortgaged as ~f apeuficatly set fwth and deuribed in the g?aming and habendum clauses F~ereof, and such Receiver shall have all the b+oad a~d effecrive func:.ons and powers in aAywise entrusted by a Court to a Receiver, and s~ch appointma~t shall be made by s~ch Courl as an ad:nifted equity and a matter of absot~te r~ght to said MORiGAGEE, and without rei.erence to 1he adequacy or inadeqvacy of the value of the property mortgaged or to the so+vency or ~nsolventy of said MpRTGAGOR w the defendants,..5nd that such : rents, profits, incane, iuues and revenues shall be apptied by such Receiver accord~ng to the lien or equity of said MORTGAGEE and 1Fx practice of such ~ Co~rt. i 8. To duly, promptly and fu11y perform, discharge, exec~fe, effect, complete, comply with and abide by each and every the stip~lations, agreements, condiYans and covenants m sa~d promissory note and this mortgage set fwth. 9. That in the event the ownersh~p of the mortgaged prem~ses, w any part there~f, becomes vested in a person other than the MORTGAGOR, the h'.ORTGAGEE, its successors and ass~gns, may, wifhou~ nonce to the MORTGAOR, deal w~th such succeswr, w successor in interest with reference to this mortgage and tF~e debl hereby secured in the same manner as with lllortgagor w~thout in any way vitiating or d~xhar~irig fhe Nb~tgagori liability herr ; ~nder or upon the debt hereby secured. No sale of the Fremises hereby mortgaged and no forbearance on the par~ of Ihe MORIGAGEE ot its successors~ * or assigns and no extension of the t:rne for the payment of the debt h~reby secured given by the MORTGAGEE or its successws or ~assigns, ahall operate j i ~o release, d~scharge, modify change or affect the orig~nai liao~l~ty of the MORTGAGOR herein, either in whole or in part. 10. h is speufically agreed that time is of the essence of this contract a~d that no waiver of any obligation hereundet w of the obligation sr ~ c~red hereby shali at any time thereafter be held to be a waiver of the terms hereof or of the instrumem secured he~by. 11. In add~tio~ to the forego:n9 rnonth~y payments of print pal and interest required by the prom:ssory no!e secured hereby, morfgagor covenants and agr~es to pay to mo:tgagee with each monthly payr, em sn addaional sum est~mated by mortgagee 1o be zqual to 1;' 12 of the annual cost of the follow- ~ng: ~ A-All reat property ta:es levied or assess~ti3 agaiast thc above described rea! e:tate. _ ~ B-Prem~ums on fire and windsrorm ~nsurar.ce as herein requ:red to be carricd on the imp~oveme~ts situate on th~ above d=stribed premises. ~ C-Premiums on such mortgage g~aranty ir.surar:ce as mortgagee shall frwr. t;me to time deem fit to carry o~ the toan secured hereby. Mwtgagee shail from time to t~me ~ctify martgagor ~n w~it~ng of the a~count due and payabte hereundzr and such sum shall thereupon be due and j ~ c.+yable on the due da!e of the next month:y paymem and each successive month thereafter ur~til mortgagee shall no~~fy mortgagor of a change in such ~ e•.ount. Such sums sFa:l be app!ied by mortgog?e toward the payment of real property tazes, insurance prem:ums, and mortgage guaranty insurance - • e m iums. € Y~ITNE55 WHEREOF. said MORTGAGOR has hereunto set his hand and seal the day and year first aiwesaid. ~ ~ Signed, Sealed and~~ed ' tht ence.of: J~~, 1}- ~~~~~i""--, ~ ~ (Seaq ~ wi s: ~ ,'t Merle L. Hughes ~x,~ ~ Y ` _ 2 (Sea4 A witness: ert' Lorne~ Exa J. hes ~~aq ~ ~ SiATE OF MICHIGAN ~ ~iFr~ C ss. ~ COUNTY OF ~T ~ ~ Before me penonally appeared ~=le L. Hughes and E]fa .1. ~{11q~S his wife, to me well known and known to me to be ~ the ind~viduals dewibed in and who executed the foregoing instrument, and ecknowtedged before me that they executed the same for the purpoxs therein expressed. Md the said EXs1 J. Huahes u w~fe of the said ~rle 1-. Hughes ~pon a separate sr?d privste ~ e=aminat~on by me taken separate and apart from her ssid husband, acknowledged to end before me that she executed said instrument freely and voivo- ~ ranly and without any compulsion, constraint, appre~ nsion.~,cor fear of w from her said husband. WITt~lE55 my hand and offic~al seal thi: u~S/ day of ~ Au u5t A. p, 15i 73 ' F lE~ 4?iT' d~~6e~B _B ; 'r + ~~.IUCi: ::;~tfMT~ F~,. w; RV~E~ ~,i}TR~$ / Notary lic in and for the State~chig~~'~'~9e ~ ciEaK c~~~,u:t ccuRt-~ r ""Y :1~iUIIC~R1"Ai~ri~ ~ Return 70: PECORT VE~,~.~D~~~ `~otary P~b!sc. W;:vne Caunty, Rii;h. First Federsl Savings 3 Lean Association My Cornm;ssion E..a-r~s April i:7, j4-, O( fott P;erca ~ R fort Pierte, Florida I 9 i3 AN 73 Yq 264'741 ` This Instrument Prepared ByJ. Hal Roberts, Jr. ~y First Federal Savings & Loan Association ~ of Fort Pierce~ Rlor ida j Checked By~ ~ r.G} 478 j ~ eooK ty_. ~ , ; - ; _ ; r~ ~ ~ , ~ ~ ~i T.. r _ - - ; . - - - . _ - _ :