HomeMy WebLinkAbout1142 3. To place and continuous~y keep on the 6urd~ngs now or herraiter ~~~vate on sa~d land and on ah eqv~p~nem and personai~y co~ered by this mortq•
~g0, with sll premiums the~eon pa.d in fuU, firc inivronte ~n ihe usual stac~ard poliCy lo~m, in • sum approved by Ihr MOR~C~:.G:E, a+~d w~ndstunn
insu+ancs in ~he u~ual •randard po:.cy fo~m, in a wm appro.rd by the MORTGAGEE, in such cwnpany or co:npan~es as ~ha MORIGAGEE may
direct; and aU (~rs and w~n~ssorm inw~ance polk~ri on any o( said build.ngs, any intereit ther¢in or parl thrreof, in the aggr.gare sar+~ afo~esa~d or
in eaceu ~hereoF, shaN :ontain the usual s~anda~d morrgagee clause a such o~he~ dause 3s the Mo{Igagee may requ~re, making the ioss under sa~d~polt •
cies, tach and avery, paiabte to said h1pRiGAGEE as ~~s iro~rett msy appear, and each and every such po!]cy shall tx piomptiy ass ynca and de:~vrr~d ro
eny held by sa~d 14~ORTGAGEE as fu~iher secu~ity to sa~d mortgage debt, and, not !eu thart ten (10) deys in advance of the r~µ~ration of each pol~cy, to dr
tiver fo sa~d MORTGAGEE s re~xwal thereof, together wi~h a receipt for Ihe premium oi suth renewal; and ~here shall be no f~e or windsoorm ir.s~rance • •
p~sted on any o1 said build~ngs, any i~terest lherein o~ part thereoF, untess in the form and wifh ths toss payabte as afo~esaid; and in the event any sum ~
of money becomes parable under such polity a pohcies said MORTGAGEE ahall have the opnon to receiv~ a~d apply ~he sa:ne o~ acco~m o( tht indcbt.:d-
~ess sew~ed hereby w to perm~t seid MORTGAGORS lo recrive and use it w any part thercol tor o;i~•_~ pv~p~oses. .•..~hout ~h:.. u~ c~ ~~~:p.,~~•
ir.g any equrty, Ii~n or ~~gM v~der or by virtue of this morrgage; and in the evrn~ ia~d MORiGAGORS shall fo~ any reason fail to keep the sa~d prem~s ~s w
~~sured, or fail to delive~ pranptly •ny of said poGr.es ol insurance to sa~d MORTGAGEE, or iail promptly ?o pay fu~ty a~y premi~m therrfor or m any
reepect (ail to parform, dlscha~ge, execvre, etfed, compiere, compiy wi~h and abide by this co.er„~~t, c: ar.y pa~? ha:._+f, s.~~~! MGRiGAGEE may piace a~.o
pay Iw such insurence or any pirl thereof without waiving or affecting any option, lien, equ~ty, or rig~t under or by vi~~~e of ihis Mo.tg~~e, and the
tull amount oi eath and every such paymem shall be im:nedutely due and payable and shall bear inlerest from the date thereof untd p~~d at the rate of
n~ne per centum per annum and togethcr v~irh such inrer~~s~ ih~i~ tx sxw.rtl by the lien oi Ihis matgage.
To pe~mit, commit tx sutfer no waste, impairment a deterioration of said property o~ any part thereof. ~
5. To pay all and singular 1he costs, charges and expenses, inct~ding a reoso~a6!e atto~ney's fee and costs of abslracts o( title, incurred or pa~d at
any time by sa~d MORTGAGEE, because or in ~he eve~t of ~he fa~iure on ttx part of the said MORTGAGOR ~o duty, p~omprty and fully pe~fo~m, d~Stha~ge.
=xecute, effect, complete, co+nply w~th and ab:de by each and every the stipu~at~ons, agreeo~c~ts, condit~ons, and covenanrs of said promissory note and ~h~s
mortgaye any or either, and sa~d costs, charges and expenses, each and every, shall be immediately due and payable; whether or not ihere Lx nof~ce d~
mand, attempt to toNed w suit pendmg; and the fult amount oF each and every such paymrnt ahaU bear interrst from tF~e date thercof until pa~d al the
r;re of ~une per c~ntu~n per anr,u:n; and ult sa~d custs, cha~ges and eaptnses incurred o~ paid, tog~ther w~th suth ~nterrst, shall be seturrd by the lien oit~i~s
mortgagC
6. Thai (a) in the eveM af any b~each of this Mwtgage or defautt on the part of the MORiCiAGpR, or ;b) in the event any oi sa'd sums of money
he~ein referred to be not promptly ar.d f~lly paid wishin th~rq (301 deys nert airer the same severatty be:ome due and payable, without demand or notice,
or (c) in thr event ea~h and every the stipuiations, agreemen~s, cundrtions and covenams of sa;d promissoty note and th~s mortgagz any or e:ther are not
~~ly, promptty and futly performed, d.scha~ged, executed, el}ecrFd, compteted, compl~ed with and ab+ded 5y, then in e~ther vr any such event the sa~d ag~
gregate sum mentioned io said p~omissory note theo rema~ning unpa~d, with interesl accrued, and ail moneys secuted hereby, shall betume due and pay-
aole forthwith, or thereaftcr, at the opt~on of s~~d MORTGAGEE, as fully and comptere~y aa ii a!1 of the said sums ot money were ongina:ly shpu:ated
to be pa~d oo such day, anything in sa.d prom~sswy note or in this Mwtgage ~o the contrary notw;thst~nd~ng; and thercupon or thereafter as the op~~on of
se,d MORTGAG'FE, w~thout no~~ce or oHmand, wit at law or in equity, therefore w thereafter begun, may be prosecuted as if a!1 moneys secured hereby
r:sd marured prrot to ~rs institui~on.
7. That in the event that at the beginning of er at any t~me pend~ng any su~t upon ~his lUtortgage, o~ to foreclose it, or to reform i~, or to enforce
payment of a~y cla~ms herc~~~der, sa~d MORTGAG~E sha'1 apply to the Court having j~r~sd.a;o~~ ti,~reot for the appo~ntmem ol a Rece;ver, wch Court :hall
fcrthwith appoint a receiver of said monyaged p~openy alt an~ singular, in~fud,ng a',~ and s~ngu~ar 1F~e income, profi!a, issues ard revenues from whatever
s~urce de~ived, each and every of wh~ch, it bcing eapreas'y undersreed, is hereby mortyaged as +f spec~hcalty set ier~h ar.d deurib-~d in the g~antin~ and
habendum dauses hereof, and such Receiver shai~ 6ave aIt the br~ad and eifea:re fvncr•c«s aad p~r.~rs in any:.~se enr,usted by a Co~~t to a Rec~~Yer, a^d
s. ch appointmen~ shall be made by such Court as an adinitrcd eq~Ity and a maiter of a6so!~tr r~gM to sa;d MORiGr.GEE. and w~;hovt re4ererce to the
adequeey or inedequacy of the va!~e of the property mortgaged or to the sa.ency o• :nw.~ec~cy o( sa~d MOR~GAGOR or !he defz~:dants, ~nd rh;t such
re~ts, profits, irstome, issues and re.•ersues shall be app;~ed oy such Recr~ver accard.•.g ro the :~en or equ~ty of sa:d I.".OR7GAGEE a~:d ~he p~act~te of s~ch
Court.
B. To duty, prompt~y and fully perForm, discha.ge, execute, efiect, cc~~pi_!e. cc:~.F:/ v~,;th ar.d ab~de by each and every the st~Hulat~cns, a3reements.
:onditions and covenants in sa~d promissory note and th:s mortga3e se~ forth.
9. That in the event the ownarsh;p ol !he mortgaged F~e~nls~s, ci an: part !hcrrcf, ceco~nes vested ir. a person ot~:er ttian the /,10R'GAGJR, the
h'.ORTGAGEE, irs suceessors ar,d ass~gns: may, withOVt nc!~ce to i~:e PLORIG%-OR; d_a; ..~~1~ wth successo. or s~..r.~ssor m ~m._~rest w~+h r~itrer.ce to tF,~s
R'or~gage and the debt hMeby seturBd in tne same n.ar:ner as K'~tlt :'U~t)d~J~ w~thout in any way vit:ating or ~;z:harg ng ihe 1.1org.,gors' t]ai;~l;ty he~e-
~nder cN ~po~ the debt hereby sec~rea- No sa;e oi ~i~e H;r~r~;s~, i~.~~eu~ :r.,;:rg;g~-d o-d r,c 4wLes:s^ce en t~±a pa•~ ~i ~h~ lIiORS;;:,GEE or in s:.ccess~.rs
or ass~gns and no extension of the :~me for the Ddyr.~P~lt oi tF.e d=bf here!,r sewred g~ven by :he MORiGAG:E or ~ts s~ccesscrs or ~ss,~r.s, ~„a+3 ope:ate
to reiease, d~scha~ge, mod~fy change or afiecr the orig~~al ~f~,u.i~ty of the K.ORiGAGOR herein, either in whole or in part.
10. It is speufrcally agrerd thaf time ~s of the euer.~e of this convact and that no waiver of any obi;gar~or hereunder or of the ob:igation se-
c~red hereby sha11 at any time thereatter be he'td to be a waiver of the terms hereof or of the instrumem secured hecby.
11. In add~t[o~ to the forege ng ~r.oMh!y payments of prir:c pai and intrresr required by the prom sscry nore secured hereby, mortga~~r covenants
' ~~,d ag•^es to ~ar to n:o:~g3gee u~~h each r.~omh y pay~ ent an add,r:onal sum est~n.ated by mortgagee to be eq~ai to 1, 12 of t~e ann~al cost of the foliow-
ir.~_
A-All real property taxes levie~ or as:esseci agai•~st fhe aba~e descriFCd rea7 estate. -
B-Prem~ums o~ fire and w~ndsto:m ~~svraace as i,ere~n rrq:;red to be ca•r~ed on the +mprovements stuote on the above d=scr~bed premises.
' C-Prem~ums on such mong;ge 9uaransy ir.svra.,ce as morrgay-ee sha'.I from tlme to time deem fit to carry on the loan secured hereby. ,
Mortgagee shail trcm time to t~r.~e nctify me~tgagor ~n writmg of the am.ount due and payable hereunder and such surn shall thereupon be d~e and
.~;able on the due daTe of ;he ~e,ct month:y payme„t and e.;ch su.cessive mo~~t~ thereafre• urril merrgagee sha!! norify n~ort~agoi of a char.ge in such
~~,ount. Such sums s}~a:l be ap~~i~ed by marsgag?e roward the payment of real p.operty tanes, insurante prem.ums, a~~d mortgage guaranfy insurar.ce
~ ~ ~emiums.
IN Y~ITNESS :~HEREOF, the sa(d MORTGAGUF~ has hereunto set his hard and seai the day and year first afor said.
j Signed, Scaled and d'vered in the preserte of:
: an
E nest s ~/k/a Ea~~st
~ _ a~ds
Cassie Edwards t~a~y
~
~
~ S7ATE OF FIORIDA
! t
` COUNiY OF St . LtiC 1@ ~
!
; Before me pe~sonat(y appeared Ernest Edwards a~C~d F.a,rnest EC~Wa'~2t~5
and
3 Ca5511 ~'dWaldS his wife, to me well known and known to me to be
` the individuals descrioed in and who executed the foregoing instrurrKnt, and acknawledged befo~e me that they executed the same for the purpose~
; th~re~n expressed. And the said Ca ssie Edwa rds
~:fe of the said _ EZheSt EC~Na rC~ a~C~a EaZfl@SL Ec~rards a separate and pr+vate
~ exam~nat~on by me ta4en separate aad apart from ber sa;d husband, ackrwwledged to and before me that she executed said ~nstrument freely and voluo-
E rar,;y and w~tho~t any compulsion, constra~~t, apprehens n, or fear of or from her said husband.
WITNESS my hand and officia! seal thiL_~~e_ day of ?~'ovembe A. D. 19 73
. •
; Notary Public in and for the ate of rida af targe
My Comm~ssion expires:
! Return io: n /I ~yiS'~'
Cy 7~ ~~j
First Federal $avings 3 loan Associat:on '
i
Of fart P.e•ce. f~.(„~~ A~C .
Fort Pier~e, Florida ~ L~i~E Ci ~
RD.i~k ~f 1 .
; CLERK C1"-.CN« ~t ~ _ - ` . ~ '
RECORO ~ERIFtEO.~..~~~..lr
_ _ ; . -
; This tnstrument Prepared By John W. Col l in~ ~ Q~,r ~ f~~ ~s ~
FirsT Federal Savings & loan Association . .
~ of Fort Pierce , Flozida ' `I ; 11
' Checked By ~~~5~U ' ' ~ - ' . . '
_ • js
BC~r.2~~ ?AGF11~