HomeMy WebLinkAbout1168 3. To place a~d co~dnuovsly keep on the l,u~'J~~~9s now or hrreeiter a;tuate on sa~d ~and and on a!1 equip~neM and parfonaily tovered by this mortg-
sgs, wilh all prem~um~ thereon p~~d io (ull, G~e inswancr ~n ~he ~s~al s~a~da~d pot~cy (orm, in a wm apWo~ad by rhe MOR(GAGEE, and w~ndt~oim
insuronte in the uswl s~andard pot,cy torm, in + sum ap~~rovad oy d+e NIURTGAGEE, in ivch canpany o~ co~npan~es at the b10RTGAG:E may
dired; and all firs and w~~+Jstorm inwro~+ce po~~crcs on any of sa~d build~ng~, +ny in~e~est therein or part Ihereo(, in ~he +991z9aTe sum afaesa~d w
in exces~ ~hereof, st~all coniaio the uiual sa~~dard mu~igegee Ua~sa or such aher clsuse as the Mo~tqagee may requ~r~, making ~he loss u~der ~a~d po~~
ues, each and every, payable to sa~d A10RTGAGEE as as ~ntere~~ ~nay ~ppea?, and each a~d every such poncy shall 1x promptly su gned a~~d deliverc~d to
eny held by said MORTGAGEE as Fu~ther secwity ~o sa~J mortgige dtb~, a~~d, not leu thao ten (10) days in ad~ance o~ tha e:pirat~on of each pol~cy, to da
liver to said MORTGAGEE a renewal thereof, together with a rece~pt fo+ the premium oi iuch renewal; and ~here sl~all be ra f~re or windil0r~n insurance
placed on any of said building~, sny interest lherain or part the~eof, unless in ~he form snd wi~h the lou payable as afo~ese~d; and in tFx eveM any sum
of money becomes payable under such policy w po~~cias said MORTGAGEE shall Mve the opr.on ~o recaive and apply the same on accounl ot the i~xlebiad~
neis setwed hC~eby O? 1o permit said MORTGAGORS lo reteiva and uss it Ot any parl thereoi for oti~rr pue~~oses, v~~~1~o~t th+r~i~~ wsw~•~g c~ ~~»pz~r-
ing any equ~ty, licn or right under w by virtue of this mo::gage; and in the evrnt sa~d MORTGAGORS shall fw any reason fail lo keep ~he said p~em~saf so
~nsurrd, o~ fail to detiver pranptly any of said policies o1 insu~ance to sa~d MORTGAGEE, or iail promptly to pay f~lty any pre~n~um therefor w in a~y
respect fail to perto~m, discharge, execute, effect, complete, comply with and abido by this cove~ant, a any par~ hrreof, aaid ARORiGAGEE may plsce a~d
pay fw such insurance or any pa?t thereof wrthout waiving a a4fec~ing any opGoo, lieo, equ~ty, o~ r~gh~ under or by v'uwe of th~s Mwtgage, and the
full amount of esch and eve~y such paymrM shall be~mmediatety due and payable and shall bear interes~ from the date ~hereof until p'aid at the rate ol
n~ne per centum per annum and fogelher wirh such inrrrest sha~i tx s~ured by the lien of this matgage.
~1, To permit, tommit w suEfer no ~vaste, impairment w deterioration of said property or any part thereof.
S. To pay aU and singular the c~ts, tharges and expensrs. ~nctuding a reasonable attorney's fcr and costs of abstracts of utte, incu~red or paid at ?
any time by ~a~d MORTGAGfE, because a in the evero of the fa~lure on the part of ~he said MORTGAGOR ~o duly, pro~nptly and fully perform, d~scharge, s
caewte, effec~, comple~e, comply w~th and ab:de by each and every the stip~lano~s, a9ree~neros, corul~~~ons, and covenants oi sa~d promissory noie and ~his
mo~tgage any o? e~ther, and sald costs, charges end expenses, each and every, shaq be immediatety due and payable; whether a not there be notice do-
mand, atlempt to colled or suit pendiny; and the futl mnount of each and every such paymeN shall bear inre~est 1~om ~he date thereof until paid a1 the ;
r~re of nine per crntum per anuum; and all sa~d costs, charges and expenses incurred or paid, togelher w~th such imerest, ihall be secured by the lien o1 this i
mo•lgsge. • :
6. That (a) in the event of any breach of th~s Morfyaga w default on the part of the h10RTGAGOR, or (b) in the event any of aa:d sums of money ;
herein referred to be not promptly and fvlly oaid within Ih~rty (30) days next atre? the sa:ne severa!Iy become due and payable, withou~ demand or not~te. ;t
or (c) in tht evem each and every tlrr stiputat~ons, agreements, condiiio~~s and covenams of sa d promissory no~r and ths mortgage any or either are nol ~
~uly, promptly and fully per(ormed, d:scharged, executed, efteded, comp:e~ed, compGed with and abidrd Sy, then in e~ther w any such event the said ag :
gregate sum mentioned in said prom~ssory note then remaining unpaid, w~th interest acuued, and ait rnoneys secured fiereby, shall brcame due and pay- `
ab~e forthwith, w thereaf~e~, at the opt:on ot said MORTGAGEE, as tulty and complete~y as il all of the sald sums of money were wg~nally st~putated ,
ro be pafd on such day, anything in sa.d prom~ssory note or in this Mortgage to the contrery no~withstand~ng; and thereupon or thereafter a~ the option of s
sa;d IdORTGAGEE, withaut notece or demand, suif at taw w in eguity, therefore or thereaher begun, may .be prosecuted as if all moneys secured hereby j
r,~d matured pr~or to ns institutioo. ~
7. That in the event that at the beginning of or at any time pending any suit upon this Mortgage, or to forectose it, or to retorm it, or to enforce
p~ymero of any claims hereunder, said MORTuAGEE shall apply to the Cov~t having jurisd!aion thereof for the appo~ntment of a Receiver, such Court shall ~
io;thwith appoint a receiver of said mortgaged p:operty alI and singula~, includ~ng atl and su~gutar the imm~ie, profits, issues and revenues from whatever t
so~rce de+ived, each a~d every of which, it be+ng expressly understood, is hereby mer~gaged as if speofic~lly set forth and deicribed in the groniing and !
hr.bendum ciauses hereoi, and such Receiver shall have all the broad and eifective funct.ons and powers i~ aflyw~sg entrusted by a Court to a Receiver, and i
s:ch appointment shall De made by such Court as an admirtcd equity and a mattet of absolute nght to said MORTGRGEE~ and without reference to the
adequaq w inadequacy of the value of the prepe~ty mortgaged or to the so~ve~cy or insoivency of said: ~bORiGAGOQ d'the defendants, and thal such
renrs, proiiss, income, issues and ~evenues shall be appl~ed 6y such Receiver accord~ng to the lien w bquity of'said M(3RTGA('iEE antkJhe practice of such
Court. , -
8. To duly, prompt;y and fulfy perform, dis:harge, exec~te, effect, comp~ote, c~mpfy with and abide by eath and every the stipuletions, agreements,
conditions and covenann in sa~d promissay note and th~s mortgage set forth. •
9. That in the event the ow~e.ship of t}w mortgaged premises, or any part tliereof, becomes vested in a person other than the MORiGAGOR, the
!.:~RTGAGEE, its successors and assigns, may, w~thout no~ice to the MORTGAOR, dral w~rh s~ch successw a successor in interest w~th reference to this
rr.oa tgage and the dabt hereby secured in the same marner as wirh !.5ortgagor without in any way vit:ating w d~xharging the Mortgaajors' liability hert
~~~der w upon the debt he~eby secured. No sale of ti,e `rern~ses he:eby mo.tgaged and ~o fo~bearance on the pan of ~he MORiGAGEE w its successors
or ass~gns and no exrens~on of the time ior the payment oi the orbr hereby secured g~ven by the MORTGAGEE or ~ts successors w ass:gna, a~~all operate
to release, d~scharge, modify change or atFect the o~igmal liab~~~ty of the MORTGAGOR herein, either in whole or in part.
10. If is speuf~cally agreed that time is of the essence of this contract and that no waiver of any obGgation hereunder or of the obligation se- ;
c:,red hereby shaU at any time thzreafter b> he:d to be a waiver of the terms hereof or of the instrument secured herby. '
l i. In aod~tion to the {otego ng month~y pa/ments of priac paI and 'enterest requ~red by the prom~ssory ~ote setured hereby, rtsortgagor eovenanis
scd agrees fo pay to mortgagee with each mcrohly payr:-ent an add~~~onal sum est~mated by mortgagee to be equal to i; 12 of the annual tost of ihe follow- ;
~9: fi
A-All real prope:ty taars levie~ or aszessc-d ag~i•ut thc at~ove desaibed real essate. ;
B- P~em~ums on (~re and windsrorm insuracce as herein requ~red to be ca~ried on the improveme~ts sit~ate on the above described premises.
C-Premiumi on such mortgage guaranty ir.w~ar.ce as mortgagee sha11 frc:n t~me to time deem fit to carry on the loan secured hereby.
Mortqagee shall f~om time to time notiFy mort~sgor ;n writ+ng of the amount due and payable hereunder and such sum shall the:eupon be due and _
~ ;~yable on the dve date of ~he next month:y paymenr and each su:cessive month thereafter urail mutgagee shall ~otify mortgagor of a change in such
~ ~,c~nt. Such wms s~aii be applied by mortgagPe to.oard ihe payment of real proper?y taxes, insurance prem:ums, and mortgage guarenty insurance
~ c.•emiums.
~ {N 1~ITtJE55 'l.'H:REOF, the said MORTGAGOQ has hereunto set his ha~~d and seal the day and y irst af resaid.
~ Signed, Sealed and delivered in the presence of: ,(P
SeaR
~ dYQ'1~ BOlbptlOO (Sesl)
~ ~ ~ > > ~ i ~ (5ean
Beatrice Borbotlw ~~ai~
t--- -
S~ATE Of FLORIDA
SS.
~OU!JTY OF SL L1lC~e 1
Before me personally appearedAnal~'MI BOr~Ot~CR~ and
Beatriee BOr t his wife, to me well known and known to me to be
the individua:s described in and who executed the fwegoing instrument, and acknowledged befo~e me that they executed the same fo~ the purposes
rherein exrressed. And the said Beatriee BOZbOtiCO
r.~`e of tF.~ said Andre~w BOIbOt~00 upon s sepa.ate and private
e.aminat~on by me taken separate and apart from her wid husband, acknowledged to and before me that she executed said instrument freely and voiurr
~ r~-~iy and w'rthout any compulsion, const:aint, appr ens,on, or fear of or from her said husband. ;
W~TNESS my hand and official seal this day March q. p, ~q 74
' t _ 7
~ Notary Public in and for the ate of f ida at Large
~ ~ My Commission expires: ~ q
~ " ~J
Retum To:
Firat Federal Savings 3 loan Assodation
Of Fort P:,~~ce. FIlEO Ah;; =E:;jR0E0
4 for: Pierce, Herida 'S7• <J~%- ~ ~JN1 ~ f~~.
~ R~:•• ~ : '?A$
~ CL"~R ,:t;:T C~UR1
af~'^r ` - !r- ~ ~
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This Instrument Prepared By Johft W. Collit~~ ~l ~l $3 1 h~~y ~ ~ 'f
~ First Federal Savings & Loan Association ' .
° Florida
of Fort Pierce . 2~$V J - : ~ ` Q • "
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