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HomeMy WebLinkAbout0609 To p~ece and co~tinuo~sly keap on the bui!d~ngs now or hn~eafter ~ituate on said land and on ali equip~nent and pcrso~ally coYa+ed by th~~ mortq- , pt, with ~II premiums Ihe~eon pa~d '+n f~ll, fire insuronce io the usual ~~arxlard poficy torm, in • wm spp~oved by the MOR(GAGEE, and w~nJs~am insu~ant~ in tM usua) ~tandard po~~ty forin, in s sum approved by the N10RTGAGEE, in suth tompany or compsn~e~ as the MORTGAGEE may direcf; and all fire a~d w~~cJitorm ~nsu~ance po~~ues on eny of ~aid buiid~nys, +ny inleraat therein or parl thareol, in the agyrega~e sum afaesaid a in ~atess thereo(, shsll•conta~n the usual standa+d mortga9ee clause or such o~ha~ ctause +t the AAorty~gee may requ~rq maliny ~~s Ioss uoder ia~d po~i- c~e~, each ~nd every, payab~e to aaid MORTGAGEE as its interest may appea~, and each and every such pot~cy shall be promptly ass g~~ed and de~iver~•d ~o any held by said MORIGAGEE ~s furlher iecurity to said mo~tgage debt, snd, not less tMn ten (10) day in advance o1 the expiration of each policy, to de- ~ liva to ia~d MORTGAGEE s renewal ~hereo(, together wi~h a rece~pt fw the premium ot svch renewal; aRd there ~hail be no i~re or windslo~~n i~svrance plxed on any of said b~ildings, any interest thereie? a pa~t thereof, untess in the form and wiih Ihs toss payable as aforesaid; and in the event any i~m . of money beca++ea payable unda such poliq or poGciea wid MORTGAGEE ~hall Mvs the opt~on to receive and apply the ume on accoum oi the ind~:bted- . neu secured htreby w ro permit said MORTGAGORS ro reteiva and use it p any pa~1 thercol for o~ner purpases, w~~ho.,t th_+eu~ wa~+:.~g ar ~~::pa~^ . s inp any equity, lien ot rtyht under ot by virtue of this mo::gage; +nd in 1he event said MORTGAGORS shall for any reaion fail to keep the said p~em~ses so insured, M}ail to delive~ promptly any of said policies of insurante to laid MORTGAGEE, W fail promptly to pay fully any pren~ium therefw w in a~y respect fail to perfwm, discharge, execute, e~fect, complete, comply with and abide by this covenani, w any part hereoi, said MGRTGAGEE may plate anA pay tor auch insurance or a~y pa~t thereof without waiviny a affectin~ any option, lier, equ~ty, w right u~dei o~ by vl~rue of fhis Mortyafle, and the full amount of each ~nd ev~ry tuch psyment shall be imm~diately dut end payable and shatl bear interest from the date therepf un~il paid a1 ~he rate ol nine per centum per annum and togethcr with suth interest thall be setured by ths lie~ of lhis matgage. 4. To permit, commit or suffer no waste, impai~ment or deterio~atio~ of said property or any part ?hereof. 5. To pay all a+~d sirgular the ~osts, charges and expenxs, including a reasonable attorney's foe and costs of abstrocfs of title, incurred w pa~d at ony lime by said MORiGAG:E, becauu w in the event of the tailure on tha part of ~he said MORTGAGOR to duly, pramptly and fully per(wm, d~xharge. execute, effed, complete, comply wilh and ab:de by each and every the stipulations, agreeme~ts, conditions, and covenants o~ sa~d p~omissory note a~~d ~h~~ mo~tgage any w ei?her, end asid cosrs, ch~?ges and expenses, each and every, }hall be immediately dve and payable; whether a not there be norice do- mand, attempl to co~led or iuit pend~ng; ~nd the full amovnt of each and every s~ch payment shall bcar interest from tFK date thereof until paid at the rate of n~oe per centum per annum; arx3 all said costs, charges and expenses inturred or paid, togethtr w~th such interesl, ~haU be secured by the lien of this mort~age. 6. That (a) in ths event of any breach of this Mortgage w defaute on the part of the MORTGAGOR, or (b) in the event any ol sa:d sum~ of money hcrein referred to be not promptly and futly paid within thi~ty (30) days next after Ihe same severally become due and payable, wi~hout dcmand or norice, or (c) in the event each and every the stipuia~ions, agreements, conditions and covenanta of sa:d promi?sory note and th~s mortgage any or e~~her are not ~uly, prompNy and fully performe~, d~scharged, executed, effected, compteted, compfied with and ab~ded 9y, then in e~ther w any such event the sa~d ag ! gregate sum rrKntioned in said promiuwy note then remaining unpaid, with interest accrued, and a!t moneya secured hereby, shall become due and pay- ~ able (orthwith, or thereaftev, at the option of said MORTGAGEE, ss fully and completely es if all of the sp~d suma of money were wiginally stipu:ated to be paid on such day, anything in sa:d promissory 'note or in this Mortgage to the cont~ary Aotwithstanding; and thereupon w thereafte+ at the op~ion of said MORTGAGEE, without notice or demand, suit at law w in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby had mat~red pr~or to ~ts institution. 7. That in the event that at the beginn~ng of or at any time pend7ng any suit ~pon this Mortgage, or to foreclose it, or to reform it, or to enforce payment of any claims he~eunde?, said MORTGAGEE shall apply to the Court having jurisd~ctlon thereof ior the appo:ntment of a Rece+ver, such Court shall fw.thwith appoint a receiver of said mortgaged property all and singutar, includ~ng all and singu~ar the income, prof~ts, issues and revenues irom whatever wurce derivcd, each and every of whKh, it be~ng expresaly understood, is hereby mor~gaged as if spec~fically xt fath and deuribed in the gronring and habendum clauses hereof, and such Receiver shall have all Ihe broad and effective funct~ons a~d powers in anywise e~truated by a Cou~l to a Receiver, znd such appointment shall be mada by such Court as an admitted equity and a matter oi absolute r~ght to said MORTGAGEE, and wirho~t reference to the edequaq or i~adequacy of ~he value of the property mortgaged or to the sotvency or inso:vency of sa~d MORiGAGOR or the de4endants, and that such : renrs, p?ofits, intome, iss~es and revenues shall be applied by such Receiver according to the lien or equity ol wid MOitTGAGEE and the practice of such ~ ~ CouA. i 8. To duty, promptty and fully perform, dtscharge, execute, cffed, complete, comply with and abide by each and every the stipulations, agreements, ~ conditions and covenenta in sa~d promissory rwte and this mortgage set forth. ~ 9. That in the eveN the ownership of the mortgaged premiaes, or any parl thereof, becomes veated i~ a perwn other than the MORTGAGOR, the ' MORTGAGEE, its successws and assig~s, may, without notice to the MORTGAOR, deal with s~ch successw or successw in inte~est with reference fo this mo~tgage and the debt hereby secured in the same manner as with Mortgagor without in any way vit~ating w d~scharging the Mortgagori (i~oility herr under or upon the debt hereby secured. No sa;e of tht F~emises hereby mortgaged and no fwbearance o~ the part of the /~IORTGAGEE or its succeswrs w assigrts and no ezte~sion of the time for the payment of the debt hereby sec~~ed given by the MORTGAGEE or its successors or ass~gns, ahall operate to re~ease, d~scharge, modify change o? affect thr original Iiab~Gty of the H;ORiGAGOR herein, either in whole or in part. ~ 10. H is specifically ag~eed that time is of the essence of this contract and fhat no waiver of any obligation hereundcr or of the obligation sr ~ cured hereby shall at any time thereafter be held to be a waiver of the terms hcreof w of the instrument secured herby. 11. In add.tio~ to the fwego:ng monthly payments of princ'pal and intrresf required by the promissory note secured hereby, mortga~or tovenants and agrees to pay to mortgagee w~th each momhiy payrr.ero an addbional sum est~mated by mwtgagee to be equal to 1/ 12 of the annual cost of the foliow- i 'ng: - A-All real property taxrs lev~ed or assess~rd agai,tist the abave descri5ed real estate. B-Premlums on fire and w~ndsrorm insurance as herein requ~red to be c~r.ied on fhe im~roveme~ts srtuate on the above described premises. C-Premivms on such mwtgage guaranty insura.~ce as mortgagee shall frcm t:me to time deem fit to carry on the loan secured hereby. Nbrtgagee shail from ti~ne to time not+fy mortgagor in writing of the amount due and payable hereundx and such sum ahatl thereupon be due and payable on the doe date of the next monthty payment a~zd each sutcess~ve month thereafier ur~til mortgagee shall notily mortgagor of a change in such amount. Such s~ms sF.ail be appiied by mortgagee toward the payment of real property tazes, inaurance prem:ums, artd mortgage guaranty insurance premiums. IN WITNESS WHEREOF, the said b~ORTGAGOR has hereunto set his hand and seal the d a ar first or aid. ` ~ Signed, Sealed and detivered in the presence of: j j j +0 . MiltOn W Ba aq ~ al) O @ • Seal) ' STATE OF FLORIDA ~ couNn oF St. Lucie ~ u- ~ / Before me penonally appeared Milton w• Bs1~ZC~ a~ ~IjOY~6 C• BaiYd his wife, to mt well known and known to me to be the individuals described in and who executed the foregoing instrument, and acknowt~edgeda fore me that they executed the same fw the purposes therein expressed. And the said Mar jorie C. ir ~vife of the said Milton W• Baird , upo~ e separate and private examinat~on by me taken separate and apart from her said husband, acknowledged to and before me that she executed said instrument freely and volun- i rarily and w~lhout any compulsion, constraint, apprehens~on, w fear of w from her sa:d F~usband. i A r il A. D. 19~4 WITNESS my hand and official seal this ~ day of ~ s ^ ~ ,j ~ ~ Notary Public in and for the State florida at targe ~ ' My Commission expires: ' O, 0•1 ` Retum To: ~ s~ Fint Federal Savings 3 Loan Associat~on .;j, Of fort P:erce. ~ f - Fort Dierce, Florida - ~ ; t :ry • ~ ' ' /11E0 AMJ REC4ROE0 . ^ • Y _ ~ UNtY f lA. _ % ~ sT. ROCERCvGtiTRAS . ~ ` : tT COURT ~ ~ This Instrument Pre ared B John W. Collins ~~EF~~~sr~ '~~""~w~ ' r~ P Y aEr,ORO vEA .1f0 _ . _ . - First Federal Savings & Loan Associ tion . ~ • ~ ; _ - - ~ . of Fort Pierce• F1oZ~da ~M 16 g 07 _ Ilfl~ . . - Checked By~ 2.~5~; • - ~ J •,~„t,~,,...., ~ ~ BOOK ~V PaGE 6U9 . . _ ; ~ . .