HomeMy WebLinkAbout1268 To place and com;nuously kerp on 1he bui'd:~,gs now o~ hereafter fit~ate on sa~d land and o~ al~ ~q~ip»ent and persona~~y covr~rd by ~h~s mo~~g-
sge, with all prenuums therron pa~d m f~tl, lire los~~ence ~A the usval sfandard pol;cy fo~m, i~ • sum a4Proved by ~he MOR~GAGtf, end w~nd:rorm
ins~ra~ce in the uswl ttand~rd pot.cy form, i~ a svrn approved by the MORIGAGEE, in such twnpany o~ co=npan~ea as the A~ORTGAGEE may
dua~; and all iire and wlnd~~orm inswance po!k~rs on any of sa~d build~nys, any ime~est ~herein o~ pa~~ thereof, ;n the aggreya~e s~m ~faesa~d w
io excess ~hereot, shall :omain the usual sta~edard marg.~qee cfause or sucA o~her dause as the lAo.rgaqee may requ~~e, ma?ing ~hr ~oss undar s~~d po~i-
c~es, each and every, payable ~o sa~d MORTGAGEE as ~ts in~er~s? may appear, and each a~d eve~y auch po:~ci shall be prompity ass gntd er.d de:~~errd +o
•ny held by sa~d MORiGAGEE as furrher srcur~ty to sa~d mortgage deb~, and, ~ot less ~han ten (10) days ~n advar,,e o( ~he eYp'u,non of eech po~:cy, ro de-
liver 1o safd MORTGAGEf a ronewal ttroreof, rogethei with s+ece~pt for the prem~um oi such rer.e+val; and there sha~l b~ iw f,re or windito~m ins~rance
pleced on a~y of said bvildings, any imeresf therein or pa~t thereof, unless in the fonn and with the loss payable as atoreiaid; and in the event any sum
of money becomes payable undrr s~ch policy or poLcie~ said M.ORTGAGEf shalt have rhe optla~ to receior and app!y fhe same on acco~n? oi the ind~~hted-
~eu secured hergby w ~o permit sa~d MORTGAGORS to reteive aod use it or any part tt~arcof tw o:~~or F=ur~ osrs, .•.:~n~~t ~h „r ~•.p„~r•
~ng any equ~ty, lien or right undcr Or by virrue of this mo::gsge; and m the event ~a~d MORTGAGORS shall fpr any reaiun fait to k~ep +he said p.emisa~ so
i^sured, e. f3i1 to deGve. p~ompNy a~y of wid poGcies o) inw+ance to sa~d MOR~GAGEE, or fad promprly to pay futly any premwm ~her~ior or ~n any
respect fail to perfwm, d~schargp, execure, eliec~, complete, comply wi~h and abide by th~s covenant, or any part hareof, sa~d MliR~vAii["t ~n;y piace a~:d
pay fw such insura~ce or a~y part ther~of w;iiwut waiving or a(Eecting any optio~, lie~, equ~ty, o? s~ght under w by vi•we of rh~s Mwtgage, and ihe ~
tull amouM of each and every such payment sha!1 ~mmed~ately dve and payable and shall brar interrst from tha date thcreof umlt po~d af ~hc ro~e ol _
n~ne pe~ cent~m pe? annuns and ro3ethrr N•+th wch infer,:st SF1dI1 be sac~red by the lien of this mortgage.
1. To permit, commit or suffe? no waite, impairmem o~ detcr~o~at,on of said properfy or arty part thereof.
5. To pay ail ar+d singu=ar ~he costs, charges ar~d e:penses, ind4ding a reasonable attorney's fee and costs of abstracts oi title, incur:ed~or~peA{ at
any time by said MORTGAG;E, because o~ in the event of the fa~fure on the part of the said MORTGAGOR to duly, pro:+~N~~y and f~11y pe~onn, d~scharge.
>xecute, effect, complete, ~omply wnh and ab:de by eath and every ~he stipufanona, agreements, condino~s, and covenants of sa;d prom,sso~y nete and ~h;s
mwtgage any or either, and sa:d cosb, charges and expenses, each and every, shall be immediatety dve and payabte; whesher w not ther~ be noi~ce da
rnand, attempt to collect pa suit pendi~g; and the full amount of each and every s~ch payment shall bea~ interes~ from the date thereof until paid •t the
r~te o1 n~ne µer cenfum Fet anuam; a.~d alf said costs, cha~ges and rx;xnses ;ncurred w pa~d, Io~ether w~lh such inte~est, ahail be secared by the hen of th~~
mortgage.
6. Tha? (a) in the event of any breach of lhis Mwtgage or defaul~ on the pan of the MORiGAGOR, or ;b) in fhe event any of sa:d sums of money
herein refe~red to be not promptty and fully paid wrthin th,rry (301 days next afrcr the same severatty become due and payable, wi~tw~~ drmond o~ nonce,
or (c) in the event each and every the stipu;aiions, agreements, co~divions and covenants ot sa.d prom~ssory note and th,~ mortgage any or e~ther are not
~uly, prompdy and iully performed, dacbarged, execured, etfected, co~nptetz~cl, compiiecJ wi~h and ab~ded Sy, then in e~fher pr an~ such event ihe aa:d ag•
g~egaTe sum memioned in said prom~ssory note then rema~n;ng unpa~d, with interest atcrued, and a~l mon~ys aet~re~ herrby, st~a~~ become d~e and pay
eb!e forthwith, or thereafier, a? the opt~on of sa~d MORTGAGEE, as lully and comple~ely as if all of thr sa~d wms of money were on9inatiy s~.p~:ated
to be pa~d on such day, anythiny in sa:d proen~asory note oi in this Mptgage to the connary notw+thstand~ng; and thrreupon or thereafter at the opt:on of
sa~d MORTGAGEE, without not~ce o~ demand, suit at law or in equity, therefore or thereaiter begvn, may be prusecuted as if all moneys secured hereby
ncd matured pnpr to ~ts inatitution.
7. That in tne event that at the beginn~ng of or at any time pending any sv~t upon th;s Morrpage, w to foieclose it, or to reform it, or to enforce
payment of any claims hercunder, said MORTGAG~E shatl apply ro the Cour+ hav~ng jur~id~r.~on ih~:eof for the appo~ntmenl of a Receiver, such Cou~t shail
forthwith appoiM a receiver of said mo:tgaged property ail and singufar, indud:ng a:l and s~ng~0ar the incon;e, prohts, i3sues and reven;~es from whatever
scu,ce derived, each and every of wh~ch, it bemg exp~essly understood, ia hereby morigaged as if speofically set for~h and dexr~bed in the g•anf~ng ard
habendum dauses hereof, and such Receiver sha11 have all the broad and effeoive funcr.ens and po.ve~s in anywhe en!rusted by a Court to a Recrive~, zr.d
s:.ch appointment shalt be made by such Court as an admntzd equrty and a mauei of abso~ut~ r",ght io said MORTGAGEE, a~d witheut reference to the
edequacy w ir.adequa:y of the value of the property mo~tgaged or lo the so~ve~cy or ,n;c,i~ency of said MORiGAGOR or the defe~uJanss, and that Such
renrs, prof~ts, income, issues and revenues shail be appiied 6y sucF. Receirer accord~ng to the lien w equiry of said MORiGAGfE and ?he p~actk~ of such
~.ourt.
8. To duly, promptly and fu~~y perform, discharge, execute, eEfect, complete, con,ply w~th and a5ide by each and every the stipulations, agreements,
eonditions and cove~aros ~n sa~d promissory nofe and ~h;s mortqage set farrh.
9. That in the event the ownership of the mortgaged prem~ses, or any part tnereof, becomes vested in a per~n other than the lL10RiGAGOR, the
.'ORTGAGEc, its suctessws and ass~gns, may, w;rho~t not,;e to the A10RTG~OR, deai wnh wch wccessor o~ wccessor in interest w:~h refe+ence to th~a
n;ortaaoe and ihe debt hereby sewr~ in the same manner as w~th A!ortgagor wrhout in any way vit:ating or d~scha.g~r.g t6e !.!artgagors' tiability here~
under pr uport the d br hereby secured. No saie of the Fren~ses hereby mortgaged ar.d no tarbearance on tne part oi tne rnvw~v:,v~~ u~ ~+i au.~aa>~~a
er ass~gns and no extension ot ihe time for tne payment of the de'ut h~reby sec~red given by the h10R7GAGEE or ~ts successoro or ass:gns, a;~ail oNerate
ro release, d~scharge, mod~fy cnange or affect the o~~g~n~t f~av.i.ty of the MORiGAGOR herein, either in wFwle or ir. part.
10. It is speGticaily agreed rhat t~•ne is cf rhe essence of th~s conrracr and that no waiver of any obl:gat~on here~r.der or of the obligation se-
cured hereby sha:i at any time rhereaftc~ be he:d to be a wai,rer of the trrms hereof w of the instr~mem srcu.ed he~by. '
11. 1~ aJd.t:o~ 'o the forego r.~ •rc~th!y cayn,_-nrs oi p.i~c paf and interest requ~red by the. p~o:n~ssc~y nor~ scc~red he~z•by, mort3a~or covenants
and agrees ro aay ro nw:tgagee w,~rh each monihiy pa~•„ent an add,:lcnal sum rsr,., ared by mortgagee to be eqva! to 1)2 of t;:e annual cos~ of the folfow-
„~g:
A-A!1 wal croperty fax2s {e~n_. or asse>s_d ~gir.v the above dcz:~ibed re-al estate.
B-Pre~r~ums on f:re and wir.dsto-m ~nsur.:r:ce as he:ein r~qu;red to be ca-~~ad en the ;mprov~~ne~ts s~tuate on the abo"ve d~sv~bed prem~ses.
C-Premi~ms on such mo~ig.ge gua~anty irsvra~.ce as mor:yagee sha~l from r:me ro ti•ne deem tit ~o tany on the loan secured hereby.
~do~tg3gee sha~f frcm timr to t~-+~e nOti{y morlgagCt in writ~ng of the amount due and payable hereundrr and such surn shail thereupon be due and -
;~yahle on the d~e date of th~ rtezt month.~ payment a~7d each successive mo~th thereafter uc~it mortg~gee sha!1 not;fy rr.o*~ga~or of a change in such
~ o~nt. Sucn sums sf~a:t be appi~ed by mortgagee ro:vard the pevR~ent of rea! pioperty taxes, inswa:~te prem.vms, a:~d mortgage g~awtlt •insyrance
p~emiums. ~
IN WlTNESS ~':H~R~OF, tne sa~d MORTGAGOR has hereunto set his hrrd and scal the day and yea~ first aforesaid. ~ ~
Signed, $eated and delivered ir. the presence of: J :
_ . ~ 1 ~ ,a~`r~
rr D - ~ S ~
: r, _ (SesU ~ :
~ a1 -
' ~ a ron S . Dr ear ' ' ` ~
i _ .
~ ' .,--ts~~~, -
' S'ATE OP fLORIDA ~ ~I • !
~ ~
~ COUNTY Of St . L.tiC1Q . '
1
~ Befwe me perso~a{ly appeared Larry ~X@W and
' Karon 5. ~rQ~P his wife, ro me we~l k~awn and known to me to be
the ind;viduals described in and who executed the foregoing instrument, and ack~ow~edged before me that they executed the same for tFx purposes
rhe-ein expresud. And the:a~a_ Karon DYQW
++:fe of the said Larrv Dret~ . ~Fon a separate and private
~ examl~ation by me taRen separate and apart from her sa~d husband, ac4nowtedged to and before me that she ezecyted said insnv:ner~t {ree3y and votun-
; faruy and w~thout any computsion, constraint, apprehe ~s:o~or fear of w from her said husband. NOVet~lbe ~
WITNESS my hand and ofiicial seal this_-~ ~ day of q'p ~ 73
i _ -
Notary P ti in aUd~for t State Florida la e
My Comm~ssion e:pirer " "
Rerurn io: Cptr1('(li$SIOiI , tS ~3~l13^f ~~i ~~~y
First Federal Savings 3 loan Associat,on `
Of ~nst P crte
fort Pi~rte. Hor;da
; FII.EO aND REC R0~
~ st. cuci~ coua~r-f~
` ROCER POltq~g
~ This Mstrument Prepared By John W. Collins RECORp y~RRFjf~ COUIK
; First Federal Savings & Loan Association
; of Fort Pierc~ , Florida ~ J~ 4 Q~ ~,T3
` Checked By ,
0 R ~~r:i268 ~6~6~3
c o~x Er,
;