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HomeMy WebLinkAbout0640 • 3. To placa and continuousiy keep on the bu~:d~ngs now a hereafter sttuate on said land and on al{ equipmrnt and personally covered by lhis matg- ~ge, wilh all premiums tne~eo~ pa~d in i~il, ihe inw~ance m+he usuat standard po~icy fo~m, in s sum approYed by ~he MORiGAGEE, ar.d w~nda+orm insuranc~ in the ususl srandard pot:cy io~m, in a sum appra~ad by the MORiGAGEE, in •uch cwnpany or com~sn~es ai the MORTvAGEE may direcl; and all (i~e and winds~orm ins~ronte poliues on any of said build~ngs, any interes~ there~n or pa~t thareof, in the aggregaie •uM aforesaid w in excess ~hrreof, shall contain the usual standard mortgagee claufe w such other clause as Ihe Mortpagee may requ~re, making the ~oss uiidrr sa~d po~i- cies, each and e~ery, payable to uid ~10RTGAGEE as ~~e ~ntereat may appea~, and each and e~ery such poi~cy shall be p~ompuy ass gned and del~ver d?o eny held by ssid MORIGAGEE as (urther security to said mw~gage debr, a~~d, not leu Ihan ten (10) days in adva~xe of the expiiat~on o1 each policy, to de- liver to u~d MORTGAGEE a renewal thcreof, to~e~ha~ with a rece~pt for tF~e premium of such renewal; and ~here shall be no f~~e or w~~~dsto~~n ins~rance , placed on a~y of said b~ild~nga, any interest there:n or part thereof, unless in the form and wi~h ~he loss payabte as afacsaid; and in the evero any sum ~ of money becomss payabte under such policy a po~~ues seid MOR7GAGEE shall nave ~he option to receive and apply the same o~ account ot the indeuted- , neu secured hereby w ro permit saod MORTGAGORS to receive and use i1 c~ any pa~t thereof lor o~her pu~poses, .v~iho~t ih~r~u~ wa~~~.~3 0~ ~~~~p~~r- j ing a~y eqwty, lien or r~ghr uoder a by virtue ot th~~ mo::gage; and i~ tM event sa~d MORTGAGORS shall fa any reason fail to keep ~he said premi~a~ so , ina~red, w fail to delive? promplly any of said~po~~cies of insura~ce to said MORTGAGEE, or fa~l promptly to pay fully any pren+~um therelor or in a~y ! resp~ct fait ro perform, discharge, e:ecute, effect, complate, tomply with and sbide by this covena~t, w any pa~t hereaf, sa~d MORTGaGEE mey place and pay fw such insu~ance or any part thereoi without waiving or affecting any option, lien, equ~ty, or right under or 6y virtue of fhis Morrgaga. +~d the full a~nount of each and every such psyment ahall be ~mmed~ately due and payabts and shall bear interest from t1?a date thereoi uniit paid at the rare ol n~ne per tentum per annum and to~ather w~th such intrrest shaN be securod by the lien of ~his mortgage. 1. To permit, mmmit or suffer no waste, impairment or deterioration of sa:d prope~ty u any part thereof. S. To pay all and singular the costs, cMrgcs and eapenses, includ~ng a reasonab~e attorney'~ fee and cos~s of abstracts of title, incurred o? pa~d at any time by said MORtGAGfE, because or in the event of the tailure on the part of ~he said MORTGAGOR to duly, promptly and futly pe.form, d~scharge. execute, effed, complete, comp~y w~th and ab:de by each and every the stipulat~ons, agreements, cond~tions, a~d covenan~s of sa~d prom~sso~y note and ~hii mo~fgage any or either, and sa[d cos~s, chargd and expenses, each and svery, shall be immed~atety due and payabte; whether or not there be nonce dr mand, attrmpt to collect w suit pe~d~ng; and the (ull amouN of each and every such payment shall bear interest (rom the date thereof u~til paid at the rate of n~ne per ce~tum pcr anuu:n; and aIl said costs, charge~ and expznses ~nturred w paid, together w~th such intcrest, shell be secured by the lien of th~s mortyage. 6. That (a) in the evcnt of any breach of this Mortgage w defauit on the part of the MORTGAGOR, o? (bj in the event any of sa~d sums of money herein referred to be not promptly and fully paid within thuty (30) days next after the same sevcraily become due and payable, wi~hout demand or notice. or (c) in the eve~t each and every ~he stipula~ions, agrezmems, condi~~ans and covenams of sa:d promiswry note a~,d th~s mortgage aay w either are no~ ~uly, promptly and fuliy perfo~med, d~sctiarged, execured, eifected, cortipleted, comp~~ed with and abided Sy, then in e~ther or any such event the said ag gregate sum mentaixd in said promisswy note then remaining unpaid, wi~h i~terest accr~ed, and atl moneys secured hereby, thall become due and pay- able forthwith, a ~hereafte?, at the option of said MORTGAGEE, as fully and comp~etely as if all of the sa~d s~ms of money were o+iginally sf~putated ro 'x paid on swh day, anything in sa:d prom~ssay no~e or in this Mortgage to Ihe conrrary notwithstanding; and thereupon or thereafter at the op+~on of said M.ORTGAGEE, without no~~ce or demand, suit at law w in equity, therefore or thereafter begun, may be prosecuted as if all nwneys secured hereby nad maturld pnW to ~ta instiWtion. 7. That in the event that at the beginning of w at any fime pending any suit upon this Morlgage, or to faeclox it, or to reform it, or to enforce payment of any clain,s hereunder, uid h~ORTGAGEE shafl apply to the Court having jurisdictia~ thereoF for the appo~ntment of a Receive?, such Court shall Forthwith appo;nt a receive~ of said mortgaged property ail and singuiar, includ~ng all and singutar the income, profits, iss~es a~d reve~ues from what@ver source derived, each and every of wh;ch, it be+rg expresaly undcniood, is hereby mo~tgaged as if spec~ficalty sN fath and desu~bed ~n the granting and habendum clauses hereof, and such Receiver shall have all the broad and effective funct~ons and powers in anywise entrusted by a Court to a Receivtr, a~id s~ch appointment shali be made by such Cou~t as an ad~nitted equity and a malter of absolute right to said MORjGAGEE, and without reference to the adequacy or inadequacy of the value of the property mw~gaged or to the so~vency'w insolvency of said MORTGAGOR a the defendanJs; and that such rents, profits, income, iuues and revenues ahall be applied by such Receiver accordir~ to the lien oi equity of said MI~RTGAGEE and the practice of such Court. - 8. To duty, promptly and fully perform, discharge, execute, effect, co.r~plete, comp!y with and abide by each and every the stipulations, agreements, ~ conditans and covenanrs ~n sa~d promissory note and ~h~s morfgage set fwth, i 9. That in the event the ownership of the mortgaged premises, w a~y part thereof, becomes vested in a person other than the MORTGAGOR, the +.'.ORTGAGEE, its successws and asslgns, may, without notite to the MORTGAOR, deal with such successo~ or successw in interest with reference to this mortgage and the debt hereby secured i~ the same manner as with 1Jbrtgagw w~thout in any way vitiating or d~scharging the Mortgagors' liability hert under a upon the debt hereby secured. No sale of the premises hereby mortgaged and no 1o~bearance on the part of t!~e MORTGAGEE w its successors or assigns and no extensio~ of she time iw the payment of the debt hareby secureo given by the MORTG~IGEE or its successors w assigns, a.~all operate to release, d~uharge, mod~fy thange w affect the original liab;lity of the MORTGAGOR herein, either in whole or in part. 10. It is spec~fically agreed that time is of the essence of this contract and that no waiver of any obi~gation hereunder w of the obtigation sr c~red hereby shall at any time thereafter be held to be a wa~ver of the terms hereof or of tFx instrument secured herby. 11. In addnion to the forego ng monthly parmems of princ ~al and intrrest : requ~red by ti~e prom;ssory no!e secured hereby, mortgagor covenants i and agrees ro pay to morrgagee wnh each monrhiy pay~cer~t an add~r~onaf wm es!imated by mortgagee to be equai to 1; 12 of tfie annual cost of the fotlow- i ng: . , A-A!~ real property tjxrs tevied or assessed agaiost the above desve5ed real esiate. B-Pram:u~ns on fire and windstorm insurar;e as here~n requ~red to be carried o~ the improvements s~tuate on th~ above described premises. 'i C-Premiums on such mortgage guaraaty insurar:ce as mortgagee shal! from t~me to time deem fit to carry on the loan sewred hereby. Mortgagee shail f~om time to time notify mortgagor i~ writing of the amount due and payabte hereunder and such sum shall thereupon be due and ~ ~.ayable on ihe due dafe of the nezt month:y payment and each successive month ehereafier ur.tit mortgagee sha~t notify mortgagor of a change in such ! a:•~ount. Such sums sF.a!I be app!ied by mo.tgagee toward the payment of real pr~perty taxes, insurance prem:ums, a~id mortgage guaranty insurance j premiums• . ~ IN Y~ITNE55 WHEREOf, the said MORT6AGOR has herevnto set his hand and seal the day and year first aforesaid. ~ Signed, Sealed and delivered in the presence of: Sean ~ .IaD@S . {Sea~ ~ ~i~tA.t- ' (Sean ~ ~ ~ , _ MaY e J. agan ~~a~ ~ ~ STATE OF fLORIDA ~ Lucie ~ COUNTY Of St • ~ ~ Before me penonally appeared '.j~eS .1. Reagan a~ ~ Md116 RBAQall his wife, to me well known and known to me to be i ~ rhe individuals described in and who executed the fcvegoeng instrument, and acknowtedged befwe me that they ex?tuted the same fw the purposes : ~ therein expressed. And the said Mar ie J. Reaaan v.lfe of the said Jaaes J. Rea~an a sepa~ate and privats e=am~~at~on by me taken separate and apart from her said husband, ackrawledged to and before me that she exetuted said instrument freety and volutr ~ rari{y and w~thout any csxnputsion, constraint, apprehe /or~~'of or from her said bus5and. .:g WITNE55 my hand and official seal this day of ~eceaber A. D. 19 73 ~ 2`71326 `EO AE ;P~~~~~~~ Notary Public in and for the State of F{orida at Large i ~p ~ ~ My Commluion e:pires:NOTARY PUFUC, STATE ot fIORIDA at LARGE Re:um To: i~•~Q~EK pptta ou~T - Mr Coti~r.;lSSl~t! EXFIR~S JAN. 7. 1917 First Federal Savings S loan Associat~on `E~K G~~ CV~T ~ 8o~;:ed By n~ari.an ti:.~KC~S (n5uta~~,:e C0. ' Of Forl P~erce. CQAOIJEI~~FIEO `~11i1iIHiilf//~~ = ~f . ~3 ~ fort Pierce. Florida ~ ~ ~ A • ~i /j 2' y~ ~ G ~ ; ~ ~ ~ 07A ~ y'' r - - This Instrument Prepared By John H1. Collins : ~~.ao~ ' First Federal Savings 8~ loan Association % n-~~ , ~ of Fort Pie~ce, FloYida pU~ ~s_-~ ;iti.' A•` ~ Checked By . ~~1.~,,,I,~.~:i:.-~, ~ R Y'a 8oac~2~ PA6E S~ H: ~ ~ • ~ ~a':~ _ _ ~ . _ _ ' g- ' = ~ ~^_t' °`,y q~~, ~-j e~`}4'?~ ~`~e.~°-~ _ 1 _ .e r. ~ , _ _ ~6 _ .