HomeMy WebLinkAbout2302 3. To pla:e and .onti,wous'.y krep on the b~~ d~~.gs ncw or I,erreitrr a.e~ate on s,.d idnd and un at': ~•.~..~~,:~...-nl ~~~d pcrs~~;a';y ce.er_d b/ tF:s morrg.
ege. w~th all prem~u:n~ Ihcreun ~~~.d m fuil, fui ini~~o~:cr ~n ~i~c us_~al standard potle7 form. in a sum a{.Nro.ed by the 1.tivR~G:.GE~. a.:d w~~~J:~u~m
~nsvrante in tha us~al 3!and~~d F•o~.ty form, in a au~n epproved by Ihe MORIGAGEE, such con~pany or co:npan~es as ~k~e N.O~ivAGEE may
d~recr, and a? f~re and w~nJseor~n mau•anca pot~c~~s on any of sa:d bu~~d:ngs, any inte~esl therein or Na~t th~reul, in the ey~~•~y~te s~~n afo~es~:d o~
i~ excess thereof, shaU cum.,~n the vwal s~a~,:i.,rd morr9agae c:ouse or s~ch o~her c!ouse as the ~dortyayee may rry,,:re, makn.g u~r •cu .~:~J;r s..~d po~i-
c;es. each and every. Pa~.,b'r ~o se,d A1JRIi,AGzE as ,n ~nter~~s~ nuy appear, o:~d each and e~ery wch pu;c~ shal~ br p,o~„p+ly assy...d o d J~•:~..~r,d ~o
any h~ld by se~d 1rtORTvAGEE as further s_w~ity ~o si~d ~~~or+ga~e drbt, and, not less than ten (103 d~ys in aJ.ar.ce oi thr capi~o~~on of co.h pul~cy, to dr-
Lver fo soid A10RiGAGEE e~e~~rwal then-a(, 1oye~he~ wi~h a r~ce~p1 for thr premwm o1 wch renrwai; and thrre shail be ~w Lre o~ n.~wsw~•~~ ~i~surance
placed o~ any o1 sa~d bui~d~ngs, eny intrrest there~n or part the~rof, vn!rss in the form and w~th ~he ~oa~ payoole as aturesaid; and in the evenf any wm
of money bcionies pay~bte under wch pol~cy o~ poLc~as sa~d Mt)RiGAGEE ahall have ~he opt~on to rec~•~~•e o~~J apN?~ so~:« on accouni of t~e ind~~:.<<•d-
ness secured hereby or 1o permit aa~d MORIGAGORS ~o reca+va and use it or any p.ut ti~.vrof ior o:~•~ +~.ur ~srs, v.•~~~<.:t th
ing any equ~ty, I~en o~ riyht under or by v~rtue of ihis ~»c-:yagc; and in the event sa~d MORTGAGORS sha!1 tor any reaso~ tail ro Mee~? ~he sa~d pre~n~s •s so
msured, o~ fail to delivcr pro+nptly any of said pcl~e~es of insurence to sa~d MORTGAGEE, or faii prcmp~ly to pay fui".y any p~e~~~~u~n thrrclor or in a~~y
respect fail to perio~m, dncharge, eaecuta, elfact, canp;ete, co:nply wirh and a6~de by ~h~s cove~.am, or a~iy p.+rt hareof, snid MIiRiGAGEE may p:ace a~ d
pay fw such insurance or any part thereof w~thout waiving or afle:ting any opt~on, tien, equ~ty, or r~ght u.~der a by v~~tue oF ii.is Morty3g~, dr.d thc
f~Ei amo~nt of each a~d e~erv s~ch paymrnt shell br munediately d~e and payable ar.d shatl baar inierrst trom ~he date ~hereof u~~ril pwd ai the ra~e ol
nine per centum per annu:n and to_~ethr~ with such int~~:~•st shai~ be xwred by the lien oi Ihis mo~tgage.
4. io permil, commi~ or sufier no vvaste, impaim,em or deteiioration of sa~d property or any pa~t thereof.
5. To pay all ar.d s~n~~Iar the costs, charges and expenses, ~nckuding a reasonable at~oroey's fee and cosrs oS abstracts of titie, incu~red or pa~d at
eny time by sa~d h1UR1GAG`E, beceuse or i~ the eveN of the falfure on the part of the said h10RTGAGOR 1o d~ty, p~o:nptly and fuJy peilorm, d~sch3rge
_.rc~te, efiect, co.*~ple~e, comp{y w~th a:~d ab.de by eath and every the st:pu~anons, agreeme~~s, condwons, an~ covenan~s oi s~~d p~om~swry no?e a~:d ~h.s
•~o+tgage any or eithe~, and sa~d costs, char9es and expenses, each and every, shall be immed~ately due and payab'e; whether or not thare be not,~e d~
r.:and, attemp? to co~~ec~ ar suit prnd~ng; and the (ull anwunt of each and ev~~r such paymem shall bear interes~ froeri fhe date ~hereof unf~l pa~d at the
~ r< o+ ~une uer c~ntum pcr an~~~:n; ond ~~I sa~d custs, ci,a;g~s a~~d cxpenses irxurred or paid, toyether w.Ih s.~ch inte~est, shall be sxured by the +~an of th~~
rnortgage.
6. That i~) in the event of any ~reach of th~s Mortgage or default on the pa~t of the MORTG~GOR, or ;b) in the eveM any of sa"d a~ms of money
t;e,-e~n refe~red to be not yrc~r~Ntiy and fully pa~d .v~ttun ~h~rty (30i days nex! atrcr the same sevcra:ly becu~~~r due and payable, without de~~~and or rtot~ce,
or (Q in tha event each and eve.y ~he st~pu:anons, agretments, tcnci~tions a~d corenants of sad promissc,y nota and d~~s mortgage any o~ euher are not
i~ly, pro~~~pt{y and t~iiy perfonned, d schary•_d, ex~~cut~d, etfected. completed, compLed w~th ar.d ab~ded 5y, then ~n e~~her or any such event the sa~d ag-
aregate sum menrioned in sa~d pron~~swry nc!e than re:na~ning unpa~d, w~th interr,t accrued, end all moncys secvred hrreby, shatl becvmr due and paj-
a:;'e forthwith, or thereafter, at the opno~ of s~~d h10RTGAGEE, as fu~ly and compte~ely as if aIl of ~hr s~~d svms of money were or~gma~ly snpu:aird
to be pa:d on suc!~ day, ar~yth~ng ~n sa:d pro:+~~ssory note or in this Mortgage to the comrary nohvithsianding; and th~reupon w thereaFter a~ the op~~on of
s~ d M,CRTGAGEE, w~theut nente or drmanJ, suit at !sw or in equrty, thc.efore or thetealtrr beyun, may be prosecv~ed af ~f all monrys secured hereby
r._d matured pnor to ~ts inst~tunon. _
7. That in the eve~t ~hat at the beginn ng of or at any time pend~~g any su~t upon this Mortgage, or to forec~ose it, or to reform it, o~ to eniorce
F•jrmer:t of any c'ai~~~s hereu~-der, sa~d MO4iGf+G_E sFa'1 ;F:ply to the Ceun having ju~~sd.c~:on thereof for ihe appo~ntmrnt of a Rece;ver, svch Co~rt sF.ait
t,,:rfiw;th aypu:nt a r:ceiver o4 sa~d mortgaycd property all and sinyular, inci~dng a11 and sing~iar the income, p+of~fs, issues.ar.d ~evenues from whatever
r: .•ce drr~.ed, exh ard eve:y of wh;cti, n be~~~g e~press!y ur.de~stood, is ke~tby morlgaged as if speuficaily set forth and described in the g~ant~ng a~1d
I,:;endum c'a~ses hereof, ar.d su:h Rece~vc-r shal~ have a~l the b~oad and effec!~ve funct ons ar;d puwers in anyw~se entivsted by a Ceur~ to a R~c.:~ver, a:d
s_ch appoir!r.ient sh~~l be mede Ly svch Co~rt as an adniTted eg~ity and a ma~ter of abso;ure r.ght to sa~d MORTGAGEE, and w~thcvt relrre~:ce to the
e'._•yuaey ar inadequaty ef tne va'ue of the properry mo+rgagrd or to the so.vency or ;nsui~~ncy of sa:d MORiGAGOR or tt~e drie~~dants, a:id th~t such
_~^~s, profin, income, issues and revenues sha~i be app:ied 'uy such Recr~ver accord~~~g to the iien or equ~ty oi sa:d MORiGAGEE and tt~e practice oi wch
Court.
8. To du~y, p~omp!fy and ful!y pe~fo~m, d~scharge, execute, ef(ect, comp(ete, cornFiy wfrh and abide by each and every the stipuiations, agreemems,
. r,ditiori~ and covenaras ~n sa~d prom~ssory no!e and th:s mortgage set forth.
9. That in the event th~ ownership of the mortgaged prem~i?s, or any part thereof, becomes vested in a person other than the tdORTGAGUR, the
:.~R7GAGEE, its suc;essors ar.d assigns, rnay, wnhout nos~ie to the N.ORTGtiOR, deal with such successor or successor in ~nterest w~~h reference to th~s
_ c•fgage and the drb~ he~eby secu~ed in the same mar•nrr as w~th h'ortgagor w~thout in any way vit;ating or d•xharging the /Acrtgagors" liability here-
dcr or upon ifie debt htreby secwed. No sa~e of tt~e ~ ren,n~s h~reby morrgaged a~~d no forbearance on the part of ehe ?AORTGAGEE or iri successo~s
r• ass~g~~s and no exterslon of ~he nme for the payment of N:e debf h~rebv secured given by the /'1.ORiGAGEE or its successors or ass:gns, a~~ail operate
io reiease, d~scharge, mod~fy char:ge or affecr the orig~nal liao:;:ty of the h10R1GAGOR herein, either in whole or in part.
10. It is specif~catiy ag~eed that time is o! tfie esse~:ce of this contract and that no waiver of any oh~~gat~on hereunder or of the o~Iigation se-
c.:red hereby shali at any ti^,e tncrra~ter be held to be a wmver of the terms hereof or of the instrument secu~ed herby.
11. In ;ci~ tr_:~ to the for~r,c r cnth'y pd/r.~rMS of Er. i::: pa1 and inta~est req~~red by the prom'sscry no'e secured hereb„ mortya3or covenants
~ d egrecs to pay eo r.:crga~ee ,,..~h rech o+~,+h,y Na~~.~e~~t ~n ad:i~t~onal s~m rsr•n.oted by morfgagee to t,e equal to 1, 12 of thr ann,,a! cos~ of th~ fotiow-
A-A!: rcal Yrop~~rty tsx:s ~ened e~ css,s•_c4 ~g=~•:s: tne ai;ove desv:b•d r_a~ estate.
4 6-Fr:~•::u~r,s on fue and .•r~r.dsto~~^ ir.w•:,~ce as i:e:e~n r_q~:r^d to be r_rri~d on the ,ro,:rovemeots S1VdTC o~ the above d:scr~bed pre~nises.
C-Pn_:r,~~,~s on sxh n:c:tg::ge g~~a+a•:?y ~es~~ra~ te as rnaf3ayee sha~l fro~~- ;~ne to t~me dcem f;t to carry on the loan sewred k~<reb~_
Mor!gagee s~ ~'i f.om n•:~e to T~ •~e ~ c'~f; ~~crt,.agcr ~n r:rit~r:g of the ou~t d.re and payable here~ndrr and such suT~ shait thereupon 6e due a.^.d
( ,:,ble on rh; d~e d~•e or ~h~ n~xr n:onth.; pa~.~,~ent and euh sutcess~ve mor;'h ti:rreaft_r ~rtif mortgagee sha!! not:fy mortgago~ of a change in wch
-~r.t. Such s~~:r.s st,i.! t,e apf~'~cd bp mOlt~dy^C soNa:d the payrnent of reai FlGpf~Ty tdaGS, insurance pren,,ums, and mortgag~ guaranty insurance
. ~r.«1rrf5. -
x IN WIT~IESS '::H_REOF, +ha sald !'.10RTGAGCR has hereu-:ro sM h~s h,r.d and seal rhe dry a ar first aforesai
~ Signed, Sealed and d~!ivered ~n the p~esence of: ' ~~C ~
~ _ (Ses12
¢ " ewis M. McClain ~~a~~
S _ . C ` ~ _ ~ , . ~ ~ ~ - ~1 - tseaq
~ Del hina A. McClain ~~a~~
~
F
~ 5 ~'E OF FLORIDA ~
u.
~ ~~lUNTY Of ST. WCIE_ ~
~ - Leais M. rtcClain and
Before me personaily appeared -
~ Delphina j~CClc'11T1 _ _ his wife, to me well known and known to me fo be
_ r~a individuais descr~bed in and who exec~ted the foregoing instrumenL and acknowled9ed before me that they executed the same for the purposq
~ r'~<-ein expressed. And the :~~d_____~~hina l~. MCCZct1T? ' .,~~~j~~t;
~ Lewis ri. N:cClain ~
:::ie of the sa~d _ - , upon a sepa
~v~Md•piJ~tl: _
•.,m nat[on by me taken separate and apart frcm her sa~d husband, acknowiedged to and before me that she execu:ed sa~d instrument .f~ea[~ a~d votin-
" _~:I~ and w~tho~t any compulsion, co.^.straint, apprehens,on, fear of or from her said husband. '"S
WITNE55 my hand and offic~al seal this_. day or_ Marcr d;s, 19_~
~ = - ~ . ;J=
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Notary Public in and (or the ate of Florida'.at_las~js~ .
i . - ~ " .
My Comm~ss~on exp~res:
- Return To: - '
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c First Federal Savi:~gs d. ioan Associat:on -
pf Forr P••c~ Naory l~bFc. Stor• of Florida ot lory~'~•..
Fc~; P~_.•:e. F:c, d3 My Cen~nlss~on Expiras Ott. 30. 197~ ,
Bpnded by Ame.~can Fn 3 Cosualfy Co.
Robert A. Swisher Tr. F~~E;; >';,~n~ED ~
This Instrument Prepared By ~ ~;;p,`r flA.
First Federal Savings 8 loan Association ST F~~V; J.-.~'aaS ~
- of Fort Pierce ~ Floridz. ' ^n'aT ~
Y~ Checked By .Il~- p-_ _ , - ^ ------..r
~ ~ ? 4 is ~H ~?1
F~~ : FAGE23Q~ z~sszs
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