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HomeMy WebLinkAbout1955 3. To plsc• and ton~inuo~sly keep on ~~.~-bui:dingt now o~ hereafter s~tuate on sa~d land and on all eq~~p~nent a~d pe~sonalty covercd by this mo~tg~ ag~, witli aU premiums the~con pa~d in full, f~re insv~ance ~n,the usual sts~dard po~~cy lorm, in ~ ium app~oved by the MOR(GAGEE, and winds~a Y r`y ir?wranc~ i~ the usual s~andard po~~q form. iq sum ~ppr~vW~sy ~h~ MORiGAGEE, in tuch canpany or co~~p+~~es +s ~ha MORIGAGEE m+ diredt +nd all fir• and w~ndstorm insurar+cA policies on any of uid buiid~nys. any inle~e~~ ~herein w put thereof, i~ tM aggrefla+e ~um aforeuid a`~• In ~xcaa thereof, ihatl con~ain the usual uandsid mortgay~e cl~use a iuch o~her claus~ ai th~ Mwtqages msy requ~rs. ma?~~ the lou undrr sa~d poli~ cias, each and evsry, payabl~ to s~id MORTGAGEE a~ irs inicres~ may +ppeu, and each a~d eve?y iuch po~~cy ahall be prompNy ass_g~ed a~~d dolivrrrd ~o sny held by isid MORiGAGEE as further setur~ty to u~d ma~yage debt, and, ra~ ~eu tFun ~en (10) days in advance of the t+cpuation o1 each pot~cy. ~o dt- ~ live~ to tsid MORTGAGEE a renewal thereof, to9e~her with a rece~pl fw the premium oi tuch renewa~; and there shall be no •~e o~ w~ndsiorm insuranct . plsced on any o( said buildings, any imerest tixrein or part thereof, unles~ in the fo~m and wi+h .`~e loss payatle as aforosaid; and ~n the evenl any zum of mon~y becane~ payable u~der such policy u pol~cia~ said MORTGAGEE shall Mvs the opt~on to receive and apply the sa~u on accoum of the indabted ness secu~cd heroby w ro pumit ssid MORTGAGORS to re:eive snd use it a any part t~ereof ior othcr purpozes, wi~huut ~h=..u~ wa~~u~g o~ ~~~~Pa~~- ing any equity, lien or righr under or by virt~e of this mo::gage; and in• Ihe event w~d MORTGAGORS shall for any reaso~ iail to keep the said p~em~sas so ~ insured, or fail to deliver promptly any of said po~+cies of insurancs to sa~d MORTGAvEE, w iail prortiplly to p~y fulty any p+e~n~urn there~or w in a~y respett (ail to pe~form, d~scharge, execute, affect, complete, comply wiih and abide by this cove~ant, w any part hereof, said MORTGAGEE may plsce a~d . pay ia such insurance or any part thereof without waiving w a(iecti~g any option, lien, equity, or rigM unde+ w by virtus of this Mo~tgage, and the ^ full amount of each and every such payment shall be immediately due and payable and shall bear interest from the date thereof umil pa~d at the rete ol ni~e per centum per annum and to~e~he~ with such inte~eat shall be secured by the lien of this mo+tgage. 1. To permit, commit or suffer no ~aste, impairment w deterioration of sa~d property w any part thereof. 5. To pay all and singular ~hs costs, cha?ge~ and ezpenxs, including a reasonable +tiwneY i fee ar.d costs of ab~trxt~ of'title, incvrred or pa~d at any time by said MORTGAGEE, because or ~n ~he event of the failure on the part o( the said MORTGAGOR to du~y, promptly and fully perform, d~xharge, exccute, e(fed, complete, comply with and ab:de by each and every the stipulatrons, sgreemenis, conditions. and covenanta o( said pranissory note and ~h~s mortgsge any o? eithe~, and sa~d costs, charges and expenses, each and every, shall be immediately due and payabte; whe~he? or no~ there be ~otice da mand, attempt to collect a suit pend~ng; and the full amount of each and every such payment shall bear interest from ~he date thereof until paid at the rate of nine per centum per annum; ond all said costs, charges and expenses i~curred w paid, together w~th suth interest, shall be tetured by the lien of thi~ mortyag~. 6. That (a) i~ the event of any breach of ~his Mortgage or default on the part of the MORTGAGOR, a(b) in tfie event sny of sa~d sums of money herein ~eferred to be rrot p?omptly and (utly paid w~~hi~ th~rty (30) days nea~ after the same severelly become due and payable, wi~hout demand w no+ice. or in the event each and every the stipulat~ons, agreerru~~s, co~ditions and covenants of sa:d promisso:y note and th~s matgage any w either are not ~uly, p~omptly and fvlly perfwmed, discharged, executed, eifected, completed, compl~ed with and ab~ded ~ay, then in e~~her or any such event the sa~d ag- gregate sum rtxntioned in said promissory note then re~naining unpaid, with interest accrued, and alt moneys secu:ed hereby, shall become due and pay- able (or~hwith, a thereafter, at ~he option of said MORTGAGEE, as fu~ty and completely as ii all of ~he said sums of money were a~g~nally st~p~tated to be paid on such day, anything in said prom+ssory note or in this Mw~gage to 1he contrsry notwithstanding; and thereupon or thereafter a1 the option of sa;d MORTGAGfE, without ~ot~ce or demand, suit at law or in equity, therefwe or thereaf~er begun, may be prosecuted as if all moneys secured hereby had matured pnot to its institutiot~. 7. That i~ the event that at the beginning of w at any time pending an~r su7t upon this Mortgage, or to foreclose it, or to reform it, or to enforce payment of any claims he~eunder, said MORTGAGEE shall apply to the Court having ~uriad~ction thereof {w Ihe appointment of s Receiver, such Cour~ shall Forthwith appoint a receiver of said mortgaged property all and singular, indud~ng all and singulsr the income, profits, issues and ~eve~ues (rom whatever source de:ived, each and every of which, it being exp~essly understood, is hereby mortgaged as ii spec~fically set fonh and dexribed in the granting and habendum clauses Mreof, and fuch Receiver shall have all the broad and eifective funct~ons and pov~rcrs in anywise entrusted by'a Court to a Receiver, and s:;ch appo~ntment shal! be made by such Court ss an admitted equiry and a rt+atter of absolute right to said MORTGAGEE, and withoul refererxe to the adequacy w inadequacy of the value o1 the property mortgaged or to the so~vency w~nsolvency of said MORTGAGOR or the defendants, and that such rents, profits, income, issues and revenues shall be applied by such Receiver according to the lien w equity of sa~d MORTCaAGEE and the practice of such Court. . 8. To duty, promptly and fully pertwm, d~scharge, execute, effecs, comp~ete, comply with and abide by each and every the :tipulations, agreements, conditions and covenan~s in said promissory note and this nwrtgage set fath. 9_ That in the event the ownership of the mortgaged premises, w any part thereoF, becomes vested in e person other than the MORTGAGOR, ihe MORTGAGEE, its successors and assigns, may, without ~o~ice to the A10RTGAOR, deal with such succeuw or successw in interest w~~h reference to this mortgage and ihe debt hereby secured in the same manner as with Mort~agor without in any way vitiating or d~xharging ihe Mortgagors liability here~ under or upw? the debt hereby secured. No sale of the p~emises hereby mortgaged and no forbearance on the part oi the N10RTGAGEE or its successws or assigns and no e,ctension of the time (w the payment of the deb~ hereby secured given by the MORTGAGEE or its successws or ass~gna, ahall operate ro release, discharge, modify change or affect the orig~nal liab~t~ty of the MORiGAGOR herein, e~the~ in wFwle o~ P+~~• 10. It is spec~fically agreed that time is of the essence of this contrad and that no waiver of any obligat~ort herevnder w of the ebliqatio~ se- cured hereby shall at any time thereafter be hefd to be a waiver of the terms hereof or of the instrumem secured herby. 11. In add~tion to the fwego:ng momh!y paymeMS of prir.t'pal and interest required by the prom~ssery nore sec~red hereby, mortgagor covenants ar,d agrees to pay to mortgagee with each moathly payr~,ent an add~~ional sum estimated by mortgagee ro be equal to 1~ i2 of the annual cost of the follow- ing: , A-AI~ real property taaes ievied or assessed agai•:st thc above described real esrate. i B-Premiums on fire and windstorm insutar.ce as herein requ~red to be carried on the improvemeats situate on the above desuibed premises. f C-Premiums on such mortgage guaranty insura~~ce as mortgagee sha{I from ~~me to time deem fit to carry on the loan secured hereby. ~ ; Mwtgagee sF.a11 from t~rne ta t~me notify mcrtgagor in writ~ng of the amount due and payabte hereunder and such sum shall thereupon be due and ; ~.3yable on the due dare ot ~he n^xt mo~thly payment and each wuessive month thereafier ur,til matgagee shatl notify mortgagor of a change in such ~ a~,o~nt. Such sums sFa!I be app:ied 6y mortgagee toward the payment of rea~ property taxes, insura~ce prem:ums, and morigage guaranty insurance S premiumS• ~ ~ IN WITNESS WHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and year first aforesaid. ~ 5' and delivered in the p~esence of: ' f~ ~j~~~~ ~ L a~r~r ~ cs~•n ~ Ca 1 F, MOYSe • xaq ~ - ww/ Sea4 ~ ~ - Vir nia S. Morse ~~,i~ ~ - STATE OF FLQRIDA S5. ~ St. Lucie i ~ couNnr oF ~ Befwe me personalfy sppea~ed Carl F. MOZS@ and ~ _ Virginia S• ~DYS@ - his wife, to me well known and k~ovvn to me to be rhe individuals desaibed in and who executed the foregoing instrument, and acknowledged before me ihat they executed the same for the purposes ~ therein expressed_ And the said Virginia S• ~OrSe - ~r wife of ehe said CaY R ~'~OY SY upon a separate and private examination by me tsken separate and apart from her said husband, cknowledged to and before me thaf she exetuted said instrument freely and volun- rarily and without any compulsion, constrai~t, apprehemion, w_fep~ of or from her said husband. g ApYll A_ D. i9 74 WITNE55 my hsnd and officiat seal this 7~~~j`~ day of ~ - Notary Public in and the State of Florida at large ~0 . O•~~ ~z My Commission expir . Return To: • 280481 • , , . ;i~ . First Federal Savirgs d~ Loan Association ~ i Of ~ort P;erce. . Fort Pierce, Florida KE~pAD ~ - . f~'~UC1E G~a TfIAS - r _ - • - lE~~tRGWS COUitt : ~ - : - ;Y' This Instrument Prepared By J~ H. Roberts VEp~f~E~ ~ - First Federat Savings & Loan Association 1`~ t~.l 9 . of Fort Pierce, FloYida ~M ~5 S A~~ . ~ Checked By ' ! ~ ~ ~ ~r~~ ° p 226 ~ i95~ 80011 - ~ ~ • - r dz > ~ - _ _ _ ~ _ ~ = _ :~~:~t_ _ _ _ _ . . ~ . .