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HomeMy WebLinkAbout0732 I 3. To place and continuously keep on the bu~:d~ng~ now w hercaher s~wate on :a~d land and on alt equip~nant ar.d personatly cove.ed by.th~s mo~ig- ags, with all prcmiums thereoo pa~d in 1uU, tire insurance in ~he usual s~andard po~~cy (o~m, in s sum approved by the MORiGAGEE, a~~J w~ndi~orm insurance in the usual ~randa~d pol~cy form, in a sum approved by the MORTGAGEE, in such company or compan~es as the MORiGAGEE m+y direc~; and all fire and w~~dstorm insurance polic~es on any of said build~ngs, sny inrereet ~he~ein or part thereof, i~ Ihe agg~tgare ium eforesa~d or in eaces~ ~hereof, thall confain the uiual standard mottgeg~e clauie or such o~ficr clause a~ the Mortgagee may ~equ~ro, making the 1ou unda~ sa~d po~~ • ues, each and every, payable to said A10RTGAGEE as i?s interest may appea?, and each and eve~y auch pot~cy shall Ix promp~ly ass gned a~~d del~~e~~d ~o any held by sald MORTGAGEE as funher sewrity to sa~d mortgage deb~, and, not less than teo (10) daya in advance oi the e:pirot~on of eech pol~cy, to da I~ver to said MORTGAGEE a renewal thereof, toge~her with a receipt iw the p~emium ol such re~ewal; and ~here shall be no i~re or wi»dsto~~n insurance . placed on any of taid buildings, any in~erest therein w part thereof, unless i~ the form and w~:h the toss payab~e as afo~essid; and in the event any sum - of money becorr+ei payabte unde~ such polity w policiss said MORTGAGEE shall have the opt~on to recoive and appty thr same on acco~nt o( tha inJabted ^ neu secured hereby a ro permit said MOQTGAGORS to receiv~ and ufe it or any part ihe:eof for ornrr purposrs, v~l~l~out th_r, u~ .v;:~.~ a~ ~~~~p~~~- ing any equ~ty, lim w right under or by virtue of this mo:tgage; and in the event taid MORTGAGORS sAall ior any reason feil fo keep the sa~d pre~n~sas so insured, o~ fai! lo de~iver p~omptly ~ny of said polici.s o( insurante to sa~d MORTGAGEE, or fail promptly to pay (ulty any pre~nium therefw or in a~y resoetl fail to n«for~ discharoe. e:ecute, effect, comolete, comnlv wilh end abide by thit tovenant, w a~y parl hercof, said MuRTGAGEE inay place and pay iw such insurance or any part thereof wi~hout wsiving or affecting any option, lien, eqvity, o~ right unde~ w by virrue ot ~his Morrgage, and ~ne f~ll ~mount of each and every such payrr,enl shall be immediately due and payable and shall bear intereat from the date thereof until pa~d at the rate of n~ne per cenrum per annum and togrther with such inre~est shall be secured by the lie~ oi this mwtgage. ` 4. To permit, commil ot suffer no waste, impairment a deterioration of said property w a~y part thereof. S. To pay all and singular the costs, charges a~d expenses, includ~ng a reasonable attwreey's fee and cas~s of abs~racts of ~it!e, incv~red or pa~d a~ any time by said MORiGAGEE, betauu w in the event of the failure on the part of the said MORTGAGOR to duly, pro:nptly and fully p~riw~n, d~scherge, execute, effect, compkte, comply with and ab:de by each and every the stipulat~ons, agrerments, conditions, artd covenants of sa~d pro~n~swry note and ~his mo~tgage any or e~ther, and sa~d coats, charges and eapenses, each and every, shall be immed~ately due and payable; whether or not thare be not~ce de niand, attempt to coliect w suit pending; and the full amount of each and every auch payment shall bear interest f~om the date thereof until paid al the .ate o1 nine per centym per an~~urn; ond all said costs, charges and eapenses i~curred or pald, together wuh such interest, shall be secured by ~he lie~ of Ih~s matgsge. _ 6. Thst (a) in the event of any breach of this Mortgage or defau(t on the part of the MORTGAGOR, or (b) in the event any oF sa:d sums of money herein refened to be nol p~anptly and fulty paid within thi~ty (30? days next attcr tht same severally become due and payab!e, wi~hout demand o~ no~ice, or (c) in the event each and every the stipulations, agreements, conditions artd covenants of sa~d promissory note and th~a mortgage any o~ e~ther are not i~ly, p~omptty and fulty performed, d~uharged, executed, effected, completed, complied with and ab~ded 9y, then in e+the~ a any such event the sa~d ag grega?a 1um mentioned in said promissory note then remaining unpaid, with interest accrued, and atl moneys secured hereby, sha~l become dve and pay abte forthwith, or thereafter, at the opt~on ol said A10RTGAGEE, sa fulty and completely as if all of the said sums of money were or.gina~ly s~~pulated to be paid on suth day, anything in sa:d prom~sswy note o~ in !his Mortyage to the conrrary notwirhstand~ng; and thrreupon p thereafier ai the opt~on of said f.lORTGAGEE, without not~ce or demand, suit at law or in equ~ty, ~herefore or thereafter begun, may be prosecuted as if all moneys secured hereby nad matured pnor to its institution. 7. That in the event that at the beginning of or at any time pending any suit upo~ this Mortgage, o~ to fo~eclose it, w to reform il, or to enforce payment of any claims he~eunder, said MORTGAGEE sha11 apply to Ihe Court having jur~sd:ction the.eof for the appointment of a Receiver, suth Court shail forthwith appoint a receiver of said mortgaged property all and singular, inciud~ng all and singu~ar the income, prof~ts, issues and revenues from wh~t@ver source derived, each and every of wh~ch, ii be~ng expressly unders~ood, is hereby mortgaged as ii speu(ically xt forth and deuribed in the g~anting and habendum clauses hereof, and such Receiver shali have all the broad and effeciive funct.ons and powers in anywise entrusted by a Cou~t to a Recei~er, and s:ch appoiniment shalt be made by such,Gouct as an admitted equity and a matte~ o} absolute right to said MORiGAGEE, and without re(erence to 1F~e adequacy w inadeq~acy of the val~e of the p~eperty rnortgaged or to the so~vency or insolvency of said MORiGAGOR w the defendants, and that such re~n, profits, income, i:sues and rovenues shall be appGed by such Receiver accordh~g to the lien or eq~ity of safd A10RTGAGEE and the praU~ce of such Court. 8. To duty, promptty and futly perform, discharge, execute, effect, comptete, comply with aru! abide by each and every the stiputations, agreements, conditions and covenams in sa,d promissory ncte and th;s mortgage set forth. 9. That in the event the ownership of the mortgaged premises, w any part thereof, becomes vested in a person other than the MORTGAGOR, the ti1~RTGAGEE, its successors and ass~gns, may, without norice to the MORTGAOR, deat with svch successw or successw ~n interest wnh reference to th~s n~o+tgage snd the debt hereby secvred in the same manner as with Mortgaga withovt in any way vit~ating or d,schargin~ the I~lorrgagori liabil~ty here- ~nder or upon the debt hereby secured. No sa~e of the premises hereby mortgaged end no forbea~ance on the part of the I~IORTGAGEE w its successors or assigns a~d no extension of the time for the payment of the debt hereby secured given by the MORiGAGEE o~ its successws or ass:gns, aOwtl operate ro release, d~scharge, modify change or affect the original liabitity of t4e MORTGAGOR herei~, either in whole or in pa~t. 10_ H is spec~iically ag.eed that time is of the esunce of this contract and that no waiver of any ob~~gat~on hereunder w o~ the oblgatan sr c~red hereby ahall a~ any time thereafter be he~d to be a waiver of the terms hereof w of the instrument aecured herby. i 1. In add~tio~ to the forego:ng monthly paymems of princ"pal and interest required by the prom~ssory no!e secured hereb~, mor+gagor covenants a-,d agrees to pay to morlgagee v~ith each m~-mhF~r pay~:,ent an adJ~rional sum est:ma~ed by mortgagee to be equal to 1;`12 of the annual cost of the foilow- ~ng: A-All real p~operty taxts levied cr assesseci aga~~st thc a6ove desuibed real estatc. . B-Prem~ums on fire and windstorm fnsurance as herein req~~red to be carried on the improvements situate on the above descr~bed p:emises. C-Premiums on such mortgage guaranty ;r.surance as mortgagee shatl frcm t:me to time deem fit to tarry on the loan secured hereby. Mortuagee shall from rime to time notify mortgagor in writing of the arnount due and payable hereunder and s~ch su:n shatt thereupon be due and ; syable on the due date of the next monthly payme~t and each successive month thereafter un~ii mortgagee shall notify mortgago! of a change in such ~ a nouM. $uch sums sF.a~l be applied by mertgagee toward the.payment of rea! prope~ty taxes, insurance prem.ums, and mortgage guaranty insurance ~ p•emiums. ~ - ~ IN Y,7ITNESS JVHEREOF, the said MORTGAGOR has hereu~to set his hand and seal the day and ear first aforesaid. ~ Signed, Sealed and delivered in the pre}ence of: € • Ses1) ack G. Clark ~ _~a..~.. s~an ~ _ Virqinia Clark ~~ai~ ~ ~ SiATE OF FLORIDA ~ • + ' S5. ~ ~ourvn oF , i ~ Before me perso~ally appeared Jack (~a• Clark a~,d ~ _ Vire~inia Clark his wi1e, to me well known and know~ to me to be the individuals described i~ and who exetuted the faegoing instrument, and acknowtedged before me that they executed the same for the purposea therein expressed. M~i the said Virginia Clark ~ Clark - ~ .~~fe of the said Jack G. ' vpon a separate and private examination by me,~~n~atp~rate and apart from her said husband, acknowledged to and before me that she execu:ed said irtstrument freely and volurr ~ fa~~i~ and with~N~any compulsan, .constraint, apprehens~on or fear of or from her said husband. ~ WITN($5 mr~}~14'3hd.~fficwl~~al_ thi: 23Y~ day of_ Novemter _ A. i9_7~ :r ' - ~L~ O 1 .H/; y•• ' ' = • ' = Notary Public in and fw the State of lorida st Large ' ' r' f`;,,~i+ My Commissio~ expires: ~ ~ r J • _ e_.~ ~ i RQ~flf TO: ~j , ~ - First fede'~I%5~dir~~'j~l1a+? Jlstociation ~ Fort Pierc,.•' r•-•-ry pu56e, Swt~ oi t'arida at lor~ ~'FyR• ~ce"f(oi]ci~i . ':smntission Eap~rM Oct. 90. 197A ~ r~~i~~r~r' ~i Tt;~~:~`' t. by Am~ricm Rro.B Casuoity Co. ~ . ~ This Instrument Pre ared B J. H. Roberts Jr. FILEO AN~ RECORDEO Y P y ~ ST. LUCIE COUNTY F~A. First Federal Savings & Loan Association ROCER POlTRAs of Fort Pierce CIERK CykCUtT COURt RE~OR4 V_k=~IE~ ~ Checked By ~ Q Ol ,u f~~ ~ 7 Mil :r:, 0 R kY ~V.7~06 ~ EGOK ~1 `aCE 4~, ~ ~ ~ _ - ; , _ _ i: _ _ .