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Home My WebLink About0531 ~ 3. To place and continuously keep on the bui:d~nga now or hereafrer ~ituate on sa~d land and on alt equip~nent ard personjity cove~ed by this mwtg- sge, with all premiums thereon pa;d in full, fira insvrance in the usual stenda~d poti~y form, in a sum app~oved by fhe MORTGAGFE, and windstwm :^suear:e in the ~s~a! a•andard f.ol:cy lam, in • wm approved by the MORTGAGEE, in such canpany ot companies ~s the MORiGAGEE msy d~recr, and all (ire and w~ndsTOrm insurance pol~c;es o~ any o( said build~nys, any interest there~n ot part ~her~f, in t~.e ay^g:eya!c s_m a~olesa~d oi in extess Ihereof, shall contain the usual s~andard mort9agre tlause o~ suth othe~ tlavse as tF~s Matgagee may requ~re, making ~he loss under sa~d po~i- c~es, each and every, payable to said MORTGAGEE as i1s in~e~est may appear, a~d each and every such policy ~hall b~ promp~ly ass gned a~~d de~ivered ~o any held by uid MORIGAGEE as further security to said morrgage debt, and, not teu Ihan ten (i0) days in advarxe of fhe e~pi~at~on oi each policy, ~o da I~var eo said MORiGAGfE a ~anewal thereof, toge~hsr with a rece~pt for the p~emium of such renewal; and there shall be no i~re or windstorm insurance placed on any of said buildings, any interest there~n d part thercwf, unless in the form and with the ~oss payabfe as a(aesaid; and in the event any sum of money becomes payable under wch policy w pol~cies taid MORiGAGEE shall have !he option to receive and apply the iama on accouN of the indebfed~ nes~ secured hereby w ro permit said MORTGAGORS Io receive and use i1 a any pa~t thereof for otne? purFOSes, .vi~ho~t ih:r. b~ wa~~in3 0~ ~~~~p~~~- ing any equ~ty, ~~en w r~ght under w by virtue of this mo::gage; and in the event sa~d h10RTGAGORS shall (or any reason fail to keep the said p~em~srs so +nau~ed, or fail ro delive? promptly •ny of said policies of insu~arxe to said MORTOAGEE, or fail promptly to pay tu~ly any pran~um therefor o~ in any respect fail to perform, discharge, execute, effetl, complete, comply with and abide by this tovenant, p any parf hereof, said MGRTGAGEf may piace and pay fa such insurence w sny part thertoF without waiving ot affectirrg any oplio~, lien, equity, a~ighl undM p by virtue of this Mortgage, snd the f~ll smoun~ o( each a~d every such payment shall be immediately due and payable and shall bear interest irom the date thereoi un~il paid at the rate oi nine per cent~m per annum and toy~ther wrth such interest shali be sxured by fhe tien of this mwtqage. 4. To pe~mit, tommil or suffer no waate, impairment w deteriaration of said property or any part the?eof. 5. To pay atl arxl s~ngular the cost~, charges and expenses, ~ncluding a ressonable attwney't fee and cos?s of abstracts of title, incurred or paid at =r.y ~ic^- ti, ~a~ µ(1Q~C:4C,Ff: lwcautn e~r ;n ~he evem of the (a~lure on the pa~t of the said MORiGAGOR to duly, prompNy and fu~Iy perf«m, d~scherge. execute, effect, comptete, c4mply w~th and ab;de by each and eve?y the sripu~ations, agreementi, condmons, anti covene~~h u~ se:3 p::..:::.~r; ^~!c ~r.3 t~~a n,ortgage-any or eithe~, and sa~d cost~, charges and expensea, each and eve?y, shall be immediatety due and payable; whether w not there be nor~ce de °~and, attempt to collect w suit pend+ng; and the tull amount of each and every such paymem shall bear i~rerest from the date thereof until paid at thc ...re aF n~ae per cznt~m per anuum; and aU said costs, charges and expanses incurred u paid, together w~th auch interest, shall be secu~ed by the iien of thi~ morlgage. b. That (a) in the eve~~ of any b~each of this Mortgage o~ defaul~ o~ the part of the MORTGAGOR, or (b) in the event eny of satd sums o! money herein referred to be not pranprly and fully paid within tb;rly (30) days next after the same severatly become due and payable, without demand or notite. or (c) i~ the event each and every the stipulations, agreements, conditions and tovenanta of sa~d promiuory note and th~s mortgage a~y or either are no1 iuly, promprly and fulty performed; dscharged, executed, eifeued, compfeted, compl~ed w7th and ab~deJ by, then in eaher w any such eveM the sa~d ag gregate sum mentioned in said promissory note the~ remaining u~paid, with interes~ acuued, and a!~ moneys secured he~eby, shall become due and pay- ab~e iorthwith, or the~eafter, at fhe option of said MORTGAGEE, as fully and complete~y as if all of the said wms of money we~e aiginally st~p~la~ed ro be pa~d on such day, anything in sa:d promisswy note or in this Mwtgage ta Ihe contra~y notwithstanding; and thereupon or thereafter at the opt~on of sa:d MORTGAGEE, without notice w demand, suit at law a in equ~ty, therefore or 1Fwreaf?er begun, may be prosecuted as if all moneys secured he~eby nad matured pr~or to its institution. 7_ That in the event thar at thr beginn~ng of oi at any rime pending any sutt upon thia Mortgage, w to fweclose iL or to reform it, or to enforce paymem of a~y claims hereunder, said MORTGAGEE shat~ apply to the Gourf having jurisd~ction ~hereoi for the appointment of a Receivtr, such Court shall iorfhwith sppoint a receiver of said mortgaged property at~ and singutar, inctud~ng atl a~d singu:ar the income, prol,ts, issues ar.d reve~ues f~om whatever scwce derived, each and every of wh~ch, it be~ng expressty unde~stood, is hereby mortgaged as if speufically se1 iorth and destri6ed in the granti~g and habendum clauses hereof, and such Receiver ahall have alf the br~d and effective funct.ons and powers in anywise entrusted by a tourt to a Rece+ver, and s~ch appointment shail be made by such Court as an admitted equity and s matte~ oi absolute right to said MORTGAGEE, and wiihout reterence to the ade~qvacy a inadequaty oi the value of the p.operty mongaged or to the so~vency or ;nsolvency of said MORLGAGOR w the defendants, and that such renrs, profits, income, issves and revenues snalf be applied by such Receiver accord~ng to fhe lien w equity of uid 1NORTGAGEE and the practice oE such CouA. 8. To duty, promptly and fully perform, dis:ha.ge, execute, effect, comptete, comply wi?h and abide by each and every the stipulations, agreements, cond+tions and covenants ~n sa~d promissory note and th~s mongage set forih. 9. That in the e~ent the ownership of the mortgaged premises, or any part the+eof, betomes vested in a person other than the MORTGAGOR, the h'.ORTGAGEE, its successors and assigns, may, wiihout not~ce to the MoRTGAOR, deal w~th such successor w successor ~n interest with reference to this n~.o~tgage and the debt hereby secured in the same man~er as w~th ~~loitgagor w~thout in any way vitiating w d~scharg~ng the Mortgagors' liabil;ty FKr~ u~der or upon ri~e debt hereby sec~~ed. Mo saie of the prem~ses hereby mongaged and no forbearance on the part of ~he NIORTGAGEE or its s~ccessors or assigns and no ezte~esion of the time for the payment of the de6t hereby secured given by the MGRTGAGEE or its saccessors or ass~gns, s.tialt operate !o retease, d~scharge, modify char.ge or affeu the orig~nat liob~l~ry of the MORIGAGOR he~e;n, either in whole a in part. 10. It is spec~f~ca~~y agreed rhat time is of the essence of this confract and that no waiver of any obligat~on hereunder or of the obiigalion sr ,urrd hereby shali at any time thcreaher be hc!d to be a waiver of the terms hereoi w of the ~nstrument securcti' herby- 11. In addnloa to the forego ng month!y paymems o4 princ paI and imeresr required by the promtssory note secured hereby, mortgagor covenants ~~d agrees to pay to mor;~~yee ~n~th eacfi monthfy paynTenr an addriona! sum est~a,ated by mortgagee to be eq~at to 1; 12 of the annual cost of the foliow- "'g: A-Af{ rea~ property taxes ie•ne~ M assessed ag3i~st the above described real estate_ B-Pren:;ums on f~re and windsrorm insu~ar.~e as ncre~n ~eq~~red to be carried cn the ~mprovements si!uate un the a~ove described premeses. . C-Prem~~rns on such mortgage guaranty ir.<~ra~,ce as morr~agee shai! froT t:me ro time de~m fit to carry on the ioan sec~red hereby. ldwtgagee s~:a'! f.cm r~me to time not~fy mortgagor +n writing of the amou~t d~e and payable hereunder and such sum shalt thereupon be due and c~vable on thz d~e date of rhe next monthly paym~nt and each wccessive rrronth thereaffer until mortgagee shalf not~fy mortgagor of a change in such ~Unt. Such sums sFa:+ !~e app:ied by mortgag>e toward the paymeni of real property taxes, insuraice ptem;ums, and mortgage guareMy insurance E,~ert:ium3. IN WITNESS '.YHERcOF, the sa~d MORTGAGOR has hereu~to set his hard and seal the day and year first aforesaid. S:gned, Sealed and detivered in the presence of: ~ ' ~ - - ~ ~ Seal) _ 7 (5eaq i i (Seal) S?ATE Of fIORIDA ! 1 ~ C~UNTY OF J~• Lu~-i`' t 1 Before me personally appeared ~~:arvi n!~. ~TT3I'2U1:S ~''l:;; a~ ~ ~ ~ _ i I.,1 ;lC~cl L. 5ar.;mUr s his wife, to me weU ki~ldw~~~ krwwY tq~ r~ to be ?he individ~ats described in and who exetuted the fwegoing instrument, and acknowledged before me that they execufeil~.lSpne ~bt-tM~'~iposes i !herein expressed. Md the said Linda I.. SdP::I^.OTiS _ ; ~ ~.;fe of the said _ i•.dL'J~I~ ~.i,.T::U7'~S ~ ~v~ araf~T'an0~i~p ; ~ eaaminat~on by me taEen separate and apart from her said husband, acknowtedged to and before me that she execute~aialnst~u ~re!'I~~and4o~ : s rardy and wlthout any compulsion, constraint, apprehens~on, or fear of or from her said husband. ~ "~i • Q ~ ' Znt~'l y ,^.(~`.It_-'.^,lh~'i 4 ~~3 Y Y1ITNESS my hand and official sea~ this__ da of ~ ~ ~ Notary Pubtic in arr,~ for the ate o fb( a at ` My Commission expires: ` Raturn To: . . _ First Federal Savings 6 Loan Associat~on = Of Fort P~erce. ,..:~ytori6 fort PiB•ce. fiurida - - ' ~'l ~ i : This tnstrument Prepared By ~ ~ AMD RE~ a~ ~ : First Federal Savings 8 loan Associatii~~?~h a r~.. K. Kay~, s ~~4~~ COU1~;=~~ ~ of Fort Pierce ~('1 o r i cia ~pOEA ~a ; RECORD VfR~f1f0 C4U,~......?~+ Checked By ~ ~R ~,Z~ IOos~~3 - ~oox 2z.~. Par: 531 , ; ~~b904'7