HomeMy WebLinkAbout0495 To place and continuovsly keep on the l.u~'.~~~ ~s nuw w hc~eaiter a~toete on sa~d ~and and on all equi~>mrnt and persone~fy co.r~~~d by thii mortg•
sge, wuh all p~emwms tnrreon pr.d ~n fuil, fire insu~a ~cr m ~he us~~t ~ienderJ po'~cy form, in a wm appro.rd b•~ ?he MOR~G%.GEE, a~~d w~~da~wm
iniura~ce in rhe ~s~ai uanJe~d ~::cy form, io a s~m ap~no.ed 'oy ~he MURTGAGEE, in such company o~ canpan~es as ~he MORTGAGEE ~nay
direct; and all lire and w~ndstorm insurance po!~c~es on any of sa~d bu~~d~r~ys, sny interes~ theiein or par~ thrreoi, in tAe aggi~gare w~n aiorosa~d or
in eacess Thz~eof, shall cuntain the uwal a~a~zda~d mcr~g.~gre N~~se o~ such oiher dause as the Mo~tyagae may rey~~rs, ~~~king thr Iose unJ~~r sa~d ~w~~
cies, each and zvery, payable to sa~d h1JRfGAGEE as ds ~ma~es~ may appear, end each and every su<h pui~c~ shalt be prompl~y afsg~~cd and de~~~e~~d ~o
•ny held by sa~d MORI;,AGEE as f~~~her sec~~~ry ro sa~d n,~i~q.,ge d~ot, and, no~ less then ten (10) d.~ys in ad.a~ua of the eiFirorion of each pol~cy, to de~
live~ ~o said A10RTGAGEE a rcnc.val thcreof, toge~het v~ith a rvice~p~ for the pre~~uum of such renraral; an~ ihere shall be no f~re or w~~~dstorm insu~ante
plsced on any of said b~ild~ngs, any interest thera~~ or pa~t th.~rrof, unlr:s in the form and w~th Ihe toss payable as aforesaid; and in thr e~ent any tum
ol money becomrs payab:e under wch pol~cy or pol~cius sa~J MORiGAGEE shall have ~he opt~on to r~ce~ve rnd apply thr same on account of the i~~dtnfcd•
~esi stCUred hereby ot to perm~t Sa~d MORTGAGORS ro receive and use it or any pa~t 1hr:cof ior oti~••r {:urF~os~s, v..~1~o~t th_r..>i ~va~w~ o~ ~~~:p~~r-
ing any cqu~ty, Gen or righl u~der or by virtue of th~s mo::y.~ge; and in ~he avrnt sa~d MO~ZTGAGORS sh.+!1 for any reason tail to kzep ~he sa~d premis:s so
insured, or feil lo delive~ promptly any o1 sa~d pol~cirs of inwrance to aa d MORTGAGEE, or fad promptly ro pay fu~ly any pre~nwm thc~afor or in a~y
roapect fail lo perlorm, dischcrge. eae:ute, ei(ect. <on~plete, co~,,ply wiih and abide by this cova~ant, or any p.+rt hereof, seid MORTGAGEE may piace a~~d
pay fo~ such insurance or any pert thercof w~thout waiving or a{ietlinq any optian, lien, equ~ty, or riyh~ under or by vi~tue o~ this Alorega9e, and tht
IuU a~noun~ o} each and every wch payment shall b.: ~r~~»ediately due and payaLle and shall brar interrst from ~he date thereoF until paid at the rote of
nine per centum per annum ond w~eth~~ with s~,ch intrrest shali ;>e sewred bv Ihe tien of this mort9age.
C. To permit, commit or suf(er no waate, impairment or d~te~~ore~ion of said properly or any pan thereof. '
5. To pay all and singufar the costs, charges and expensrs, ~nclud~ng a reasonabte anomey's fee and cos~s of absvacts of titla, inwrred or pa~d at
any lin:e by aa~d MORIGAGEE, because or in the event ot ~he Sa~I~re on ~hr oar~ of Ihe said MORIGAGOR to du!y, p~on,ptly and (u~ly perlwm, d~scha~ge.
exec~~e, eHec~, comp:rfe, comply w~th and ab:de by each and every the stip~lanons, agteementS, condihons, and covenants of sa~d promiasory note and ~his
mortgage any or e~ther, a~id sa~d costs, charges and expenses, each and every, shall be immed~at~ly due and payable; whethet or not thrre be notice dz
mand, atremp~ to co~lecl or suit p~nd~ng; and ?he ful! amount of each and evcry such payment ahall bea. iMeres~ from the date thereof until paid a~ the
rate oi ~iinr. per crntum par an~~~.n; and a~l sa~d costs, cl.arges and cxpcr~ses incur~ed or pa~d, ~ogether ~v.th such interesl, shall be setured by the iien of th~s
mortflage. ~
6. That (a) in the event of any L•reach of this Mortgege or defa~lt cn ttrr part o1 tF~e MORTGAGOR, or ~b) in the eveM any of sa~d sums of money
herein refened to be r.o1 promp~ly ancl fully pa~d within ~h:~ry (30i d.~ys nrxt a~ter ~he same severaSiy become d~e and payable, withovt demand or norice.
or (c) in thz event each and every the stipu:a~~o~s, a•~reeme~~ts, cond~t~o~~s and cove~anrs of sa.d pro~nlssory note and th~s mortgage any o~ eithe~ are oot
~uty, promptly a~d lutly performrd, d:scharg~d, execu~rd, effected, comp:eted, comp6ed w~th and a6~ded 5y, then in e~ther or any such evem the sa~d ag•
gregate sum mentioned in said promissory note thrn remaining unpa~d, wrth in~err;~ accrued, and atl moneys secured hereby, shall become due and pay-
able fo~thwith, or iherea(Ter, at fhe opt~on ol sa~d MORTGAGEE, as ful{y and comp:etely as if ali of ihr said sums of money were onginally snpv:ated
to be pa~d o~ such Jay, anything in sa:d prom~ssory note or in this Mortgage ro~he contrary not,N~thstand~ng; and thereupon or tt~reafter a~ the op~~on of
said MORTGAGEE, w~rhout nM~te or de~r~and, su~t at taw or in equny, th~r~fae or thereatter begun, may be prosecuted as if ali moneys setured Ixreby
twd matured pr.or to its ins~~tution.
7, That in the event shat at the beginn~ng of or at any time pe~xling any su~t upon this Mortgage, w to foreclose it, or Io reform it, or to enforce
payment of any dc•~ms he~e~rder, said MORTGAGEE sha:I apply to the Court having ju~isd:ction thereof ior the appo:ntmeM of a Receiver, such Cour1 shail
Forthwith appcint a teceiver of s3id mortgayed property a~! and sin3ula~, intlud.ng all an~ sing~lar ihe income, N~o1~ts, issues and reven~es frOm whatever
source der~ved, each and every of .vhrch, it be~ng ex;~~ess!y ~nders!ood, is hereby mortgagrd as if speuficalty set forth and descnbrd in the g~aming and
habendvm clauses herco4, ar.d such Rcceiver shail have atl the broad and ef(ecfive f~nU~ons ar.d powers in anywiae eMruSled by a Court fo a Reteiver, and
such appcin:menr shall be made by such Court as an admirtrd r,vity and a matter of absoiute ngM to said MURTGAGEE, ai+d withcut reference to the
adeyuscy or inadeq~acy of tha val~e of thr property mor!g„ged or to the so:ve~cy or in:e~vency of sa~d MORTGAGOR or the defe~~dants, a~d tha~ svth
rents, proiits, income, i:sues and revenues shoH be app~ied by su<h Receiver accord~ng to the lien or equity of said MORTGAGEE and the prect~ce of such
Court. . ~
8. To d~1y, prompNy and ~ul~y peiform, d~scharge, execurr, ettett, complete, comply w~eh and abide by each and every the stiputatians, agreements,
conditions and covrnan~s ~n sa~d prom~ssory nore and ~h~s m:rtga~e set fwth.
9. That in th.e event the ownership of the mortgaged prc~n~ses, or any part thereof, 6xomes vested in a person other tha~ the M~RTGAGOR, the
ASQRTGAGfE, ifs wccessors and ass~gns, may, wi~hovt nen.e to the MORTGAOR, deal w:th wch successo~ o? successor in interest with re(e~ence to this
mortgage a~:d the de'a! hereby secured in the same mann~r as wrth 1Aortgagor without in a~y way vitiating or d~scharging the Mortgagors' liability here-
under or uFOn the debt he:eby secured. No sale of tl~e Frr:n~ses herebf mo~tgagzd and no forbearante on the par~ of the 1dORTGAGEE or its suctessors
or assi9n5 and no extensEon o4 rhe rim~ for the paymert o4 ~he deb~ hereby sec~red g~ven by tfie htORTGAGEE or ds wccessors or ass~uns, ahall operate
to re!ease, d.scharge, modify char.ge or affect the orig.nal I~au~i~ry of the MORiGAGOR herein, either in whoie or in part.
10. It is spec~Rca~~y agreed that time is of the essence of tl~~s cororact and that no waiver of any obligat~on hereunder w of the obligation sr
cured hereby shati a~ any time therzafter be hcld to be a waiver of the terms hereof w of the instrument secured he~by.
11. Ir, a:id.!io~ !o t!~e fcrego n9 ~~.cnfh'y paymi•n•s of princ pa! and ir.t~~rest requ~red by the promissory no~e secured hereb~, mortgagor eovenanh
and agr`-~:s to pay ro n:ortgagee ~n~th each monfhry Ya~~. enr an add~rionai s~m est.•e~ared by mo~tg~gee to be equal to 1;' 12 of the annua~ tos! of the lollow-
ing:
A-AI~ reat property taxrs le•:ie~ o• d55^SSL`(1 agai•~st thc ai~ove d~scr~bcd r~a~ esta!e. .
S- Pren:~~~ns on f:re ard windstor:n :nwrarce as i1e:e~n rey:,:r•~d to be ca~~ied on the ~mprovemeits situate o~ the above d_su~bed premises.
C-Pre~riu~ns on such mortgage gvaranty ir.wra~:ce as mo~tgagee shafl ~rcm. t.me to time deem fit to carry on the loan secured hereby.
i Mortgaqce sh,ll from r.rne to ti~~e norify moriyogor m n,r~t;ng ef the a~*.ou•~t due and payaEle hereunder and svch sum shall thereupon be due and ~
payable on the dve da}e of the r.ext n~o~~th:y payment and e.~ch succesvve mcnth thereaft~r uotil mortgagee shall not:iy mocigagor of a change in wch '
a•nou~t. Such s..:zis sha:l be ap~Gcd by mortga3~_~ ~owa•d the ~,a~~r.ent of rea~ property taxes, insurance prem.ums, and mortgage gua~anty insurance
premiums.
iN '~JITNESS `1VHER~OF, the sa~d MORTGAGOR has he:e~nto set his h~r.d and seal the day and year first aforesaid.
Signed, Sealed and de~ive~ed in the pre ente oi:
f1LE*~ A` -.~COftDfO ~a e Q~ t5ea~)
~ ST.WC~= :~`~N~Y FLA. ~1• Mor an
_Tr_ RQ',; _ ?~)iTRAS 9 (Sean
~ i 1 • CL=~. ~ G~1.~ COUAT ~G.C~•
, +'z~(Seaq
. " _ ~ ~trlCld • Yg~ (Seal)
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STATE OF FLORIDA ~ 'O
~ ~ n["
COUNTY OF $t Lucie _ i ~~4~J J '
Before me personatty appeared C3Y11$ ~'~OYCJaII and
Patrieia B. Morgan his wife, to me well known and known to me to be
the ind;viduals desc~ibed in and who executed ihe foregoing instrument, and acknowledged before me that they executed the SamE for the purposes
therein expressed. And the s~~d_ Patr icia B• Morqan
wife of the said _ CaY115 Mozgan upon a separate and private
exam:nat~on by me taken se~arate and apart from her said h~sband, acknowledged to and before me that she exetuted said insttument freely and votu~
ranty and w~thout any computsion, constraint, apprehens~on, or fear of or from her said husband.
WITNESS my hand and official seal this_ day of ~=Ch A• ~9 74
~ ~
Notary Public in and for t tate of Ftorida at large
My Commission expires:
Re!~rn To=
First Federal Savings d. loan Assotiat;on Nptp~ /yb6t, SbN s~ ~n~ d~'Of~
Os Furt P<,~ce. CoAmisaion Expins Od. ~0. 1978
Fo.r Pl.-rcc. Fwr.da ~q~~i.br,A~onican Ft~ i CasuollY C~.
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This Instrurrtent Prepared By J. H. RobeYts~ Jr. ~ `
First Federal Savings & Loan Association _ - _
of Fort Pierce ~ FloZ ida = c -
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Checked By ~ ~ Qv~ ` ;
~ . . .•'~`c ~ 0 R 2~~ PACE 494 ~
• . 80011 =
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