HomeMy WebLinkAbout2524 3. To p'a<e er~d con~~nu~~sly leep on f+:e ~u~;i::.3s ne,~ or hrrrait¢r s~~~e~e on sa~J tand and on atl cq.ip~nent acd Pe~SOn011y covried b; th~s morrg•
e~e, w~th afl prem~un.s ~hrrron Ha d in f~;i, Lre ins„rancr ~n ~hr ~!~.~t st.~nderd ~,u' c~ form, ~n a s~m a~p~o.rd by tF~r MUR:'v:.GEE. e~~d +.~'~dt~o„n
~nwrance in fhe vw.+t s~u~~lo~d po:.cy fo~m, in a sum aN{.rovrd Ly ihe MJRTGAGEE, in such company or co~»pa~,,es aa ~he f,•.021G%~GiE r~ay
d~rect; and all Lre ond w.nda~orm inw~ance pol~c~es on a~y ot sa~d bu~~d.ngs, any interea~ there~n or parf the~eo!, in the agg~ega~e s~~n aioresa~d or
in excess th~reot, sh.~(i tontain the usuat sTar.dord mo~tyjg~•e c~auie o~ iuch ofher c~au~e a~ the Mo.lyayee may rey~,re, ma?~ng ~he icss u~~Jr~ s..~d poii- ~ •
c~es, ea~h and evrry, pa~a5:t to said ~10RTvAvEE as ~tt iNer~~st rnay a~pear, end each and every iuth ~'~c~ ahall i~e promptty ass g•~cd ar~d de ~~~red ~o
eny held by se;d A10R(GAGEE ae fur~her secwity to se~d ~rort9a9e d~~b~. and, not less than ten i~0) days in ad.a~~cr oi the expuat~on ol eech poi~ty, ro de-
I~ver ~o sa~d A10RiGAGEE a renewal thereof, togerhtr with a rece~~~t for the p~emwm of such renc++al; and ihrro shail be no hre u~ w~~~dsto~~n ~nsurance
placed on aey of aa:d b~~!d~ng~, any iroerest there~n or part thrrrof, unlrss in fhe to~m and w~th the loss payable as aforesa~d; and in the ev~nt any sum -
of money ~'CO+n@S PJydt:~i under s~ch po:ity or poLcies sa.J MORIGAGEE sh,~ll havr the opt~on ~o rece~~e and apy:y the se~ne on accou~~t o( the indrt~tcd•
nrss se:~red hereby or ro perm~t sa~d MORTGAGORS to recr~~a a~id use it or .:~i~ p~•t tt,r:~vl ior o:in•r Hu~; ~srs. ;.~~~~.::t ih ••~~i 3
~ng eny equ+ty, I~en or nght under o~ Ly ~irtur of this mc:~yage; and in the evcnt sa d MORTGAGORS shatl tor any reason (ait to krep the sald p~emis ~a ao
,nn~red, or fail to drl[vcr p~o,np1ly any of sa~d pol+cies of ~ns~rance to sa~d MORTGAGEE, or !a~? promptiy ~o pay fJ~:y any pre•ni„rn theretor or ~n a~y .
reipect lail ro perEorm, d~scharge, exec~te, effecl, canpletc, comply ~vith and ab~de by Ihis covenant, w any part hareof, sald MvRiG~GEE may p~ec•~ a~~o . ~
pay for wch insur,~nce or any part thereof w~~hou~ waiving or aifeUing any opt~on, Gen, equ~ty, or r~~ht ~nder or b~ vlrtue of ~h~s Atorfgeye, a.~d thc
t;,~i arnovnt o( each ard eve~y suth pa~~meM shal! be ~mmed;ately due and payab!e and shall brar interes~ from the date thcrcof umil p.,~d ai the rote ol
~•~~e per cert!um per ann~n: e~id to3;-th~~r wrh svch ~nt~•~~•st sha~i be secured by the litn of fh~s mwtgage.
4. To permit, comm~t w wf(er no waste, impairment or d~trr~oration of said property or a~y part thereof.
5. To pay atl and aingular the costs, charges and expenses, tncl~dn,g a reasonabte attorney's fet and costs of abs~rocts o1 t~tle, incuned or pa;d at
~ny time by said M.ORIGAG~E, because or ~n !he event of the fakiura on the Gart of ~he said A50RTGAGOR to duly, pro~»p~~y and f~~ly prifo:m, d~scha.ge
_._cutr, effect, c«nplere, co~nply w~~h a~~d ab:de by each and every ~he stipu~at~ons, agreements, condihons, and covenants of sa~d pro~n~:sory ~ote ar,d ih~s
-,ortgage any or e~~her, and s~ d cosrs, cnargea and eapenses, each and every, shall be immrdiately due and payab:e; vvhether or not fha~e be nof~ce da
~ a~d, ane~upt to coliect or s~it prnd.ng; and the full amount oi each and e~ery wch paymem shall bear in~eres~ from ~he date thereof u~itif paid at the
• o~ n:ne pe~ c~~n:~~n p,er on~:,;:.,; ali said costs, ci~argcs and ex;,znses irx~rred ot paid, togrther w~th wch interest, sh,~ll be secured by the Len of tha
~•~ortgage.
6_ That (a) in the event of any brrach of this Mortgage or defa~l~ on tFw pa~t of the MORiGAGOR, or ib) in Ihe eve~t any oi sa:d sums of money
h;~rein referred ro be not pro~+~p~!y and f~lly pa~d wrthin th,rry (30) days next aner the san:e seve.a;ty become due and payab!e, w~thout demand or noncr,
:r ~Q in thr event each and ev~ry tne st~pu.ar~ons, agreemrnfs, ccndt~a;s and covenants o4 sa d promissory note and th,s mortgage any o~ either are no~
i~:y, promplly and fui~y performrd, d scharg~~d, ezecuted, effected, comp{eted, con:Hi~ed virth and aE~deJ Sy, then in e~ther w any wch event ~he sa~d ag
3•cga!r wm ment;oned ~n smd promissory r.c,e then rema~nir.g unpa~d, witFf ~r11G~C'S~ accrued, and at! mon~ys secured hereby, shati become due and pay
a fo~~h,~~rh, or ~hereafr~., at the opr~on of ae~d MORTGAGEE, as fully and compir~cly as if all of the said wms of money were or~ginatly st~pu:aird
'o be ~a.d o~ wth da/. anyth~ny m se d pro:n:ssory oote or in this h5ortgage to 1he conrrary not.vithstar~d~:~g, and thereupon or thereafte~ at Ihe oprlon oi
s~ ~ f~'ORTGAGEE, v~:rhout nof~ce or demand, suit at law or in equ~fy, the~efore or thereal~er begun, may be prosec~ted as if all moneys secured hereby
~.:d matured pr.w to ds ~ns~~tut:on.
7. That in the ecent that at the 6zgir.n;ng ef or at any time pendi~~g a~y su~t upon fhis Mortgage, o+ to foreclcse it, or to reform il, or to enforce
;.eyment oi any c~arms he•eunder, sa~d t: ORTG:~GEE shalf app!y to the Ccurt havn.g ~unsd.ct~on theieof for the appo~Mment of a Receiver, s~ch Court shail
icrtnwith appoint a.ece~.er of ss~d n,or•g~y~•d pro~:rty ali and s6+r3u:ar, inc:ud•ng oil and s~ngu~ar the income, prof.ts, iasues ar.d ~evenues from whatever
s_ ,•ce derived, each and e.ery of wf, ch, be~ng expres:!y ~nderswod. ~s Fereby mortgaged as ~f spec;ficalty ut forth and descr~bed in the granting ar.d
r.,oendum clausrs hereof, ard such Rrce„~er shali have a!1 the broad ard e{f~Knve funct~ons and powers in anyw~se entru:ted by a Cowt to a Receiver, a~~d
s~h appoin;mrnt shalt be n~ade by wth Cowt as an ad:•~ittrd eGurt~ and a mattcr of absolute ngM to sa~d MORiGAGfE, and withcut referente to tht
n i~y,,acy w inadrquacy of the value of rhe n~o~erty mortqogrd or to t1~e s::.vency o. inso.lenty of said MORIGAGOR o~ the defendants, and ~hat such
~•s, prufits, income, nsues and revenues shalt be ap~~:ed by such Rece~ver accordmg to fhe Gen or equity of said tdORTGAGEE and the praU~ce of such
Court.
8. To d~:y, prompt:y and fuNy pe+form, d~scharge, exec~te, effect, comp!~~te, comply w~th and abide by each and every the stipu:aGons, agreemems,
~^.ditions and covenanta ~n sa~d promissory no;e o:~d this mortgage set forth.
9. lhar in the avent the ownersh~p of fhe mor!gaged premis>s. or any part ti:ereof, becomes vested in a person other than the MORTGAGOR, the
~RTGAGEE, its successo~s ar.d ass~gns, may, without nonce to the :.~.ORTGAOR, dea~ wnh s~ch auccessos o* wcceszo• in ~nterest w~th re4erence to th;s
~~•~~age and fie d•sbt he~eby secured in the same manner as with hlxrgagor w~ihout ~n any way vit~aiing or d.scha~ging the ltortgagors' liabit~ty here-
_.~'._r or upon the debt hereby secured. No saie of the prem~ses hereby +non9aged and no fo:beara~te on the pa~t oF the /.10RIGAGEE or its s~ccessors
c-ss~g~s and no ewsers~on of the r~me for the payment ot the deb! h~.eby sewred g~~en by the h10RTGAGEE or iu successors or asslgns, ~~~all operate
re~ea>e, d.scharge, m:nj~f/ cnange or affect the orig~nal liau~i:ry of ~he N~ORTGAGOR lierein, either in whole or in pa~t.
lp. It is spec~f;cal~y agreed tha~ time ~s oF the essence of this contract a~zd that no waiver of any obl;ganon hereunder or of the obligation se-
~ c~-rd hereby sha'1 at an~ i~rte thereatter be he:d to be r wai,rer of the terrns hercof or of the instrument secured herby. ,
t
11. ;n ~?d t cn to t!,.~ fO/E3G i:n rr:orrh'y paym.;nts of ;.r~:u ra: and inr_~r~sr requ~red by the p~om:ssory no•e sewred hereb~, mo:tga~or covenants
~ ~.i a~r_es ro pay !o r.orrg33ee. v.~~h each r.-~~~rh y pa~~ :ent an acid,~ional sum ~s~ ~ a!ed by mo~tg~gee to be equa! !0 1, 12 of ~`:e annual cost of the foilow-
3
~ A-A4 +eai E;rop•rtr t~xas ~e:~ed o• ass~•ss_d ,~g+;^st ti:c ai~~ve d~sc-i'^,d r~a~ esr3re.
y B-Pr_n.•:; ~s en f~re ar.d v,:~:dste~•-~ ~~~su•~ ce as i~ere~~z req~.red to br car-~c:i e~ the ;m;;roveme~ts s:wara on the above d_scr~bed premises.
f C-Prem:vms oo soch mcrtg :ge g~aranty icsura~.ce as mo•tgage= shall frc t+-~e to ti:re d~~em fit to tarry on the loan secured hereby.
€
~ Mor.gagee s~~~:~ .`rom t~me to t,~:e nc:~`; morty_gor ~n wnr,ng of the am.ovot due and payable hereundar and such surn shail thereupon be due and
.,able o~ +he dur o~s•e oi !h~ rert n,ontF..~ pa~ -:e::! and each s::ccessive mor,th tbereaft~r until mortgagee shat) not;fy mortgagor of a change in such
s.~nt. Such 5~1.'~S s}3.~ be ec;~ «-J by ~nerrgaj~e tu:.ard the payrT,ent of re.,! property !axes, insurancz prem,ums, and mortgage guaranty insurance
i , ~rm.iumL .
~ IN YJITPlESS ::HER".OF, tne sa.d fdORiGAGCR has herevnto set his hand and seal the day and p5ar fitit aforesaid.
~ Sign Sea:ed and deiivered in the presence of: ~ ' /
~ 'L ~ L ~ 7 * Sea~
~ - (Seal)
~ -
~ - - (Seal)
F~ -
- ~ - _ (Seal)
~ ~
~ ~T;,TE OF FLORIDA ~
St . Luc i e
~ ~JUNTY OF _ - I
- Albert Snith
~ Before me persona:ly ap~eared and
` _ ___Dorothv L. Smith
` his wife, to me well known a~d known to me f0 be
~3 rne indiv~dva's described ~n and who executed the foregoing instrument, arr,! acknowfedged before me that they executed the sam~ ( th~ purposes
Doroth L. Smith . "`''~t ` ~
!~e•ein expreased. Ar.d rhe said - y j--w7~ ti~y.
rllbert Smith ' "
fe of the sa~d - - - - - - s
~~.aT:nanon by me sak~n sepafate and apart from h~r sa~d husband, acknowledged to and before me that she executed saidJnatruo~ent f?eeiy ar ub
_ _;:y and w;thovt any ~a-npu:r.on, cons~ra~nt, apprehens:on, ot~ar of or from her saidiusband. _ U;'~ '
? ~ .
~ S vil/ da of n r 1 I')
L~E ~ytiNESS my Fand and offic;al seaf th~s__ o~- - y P(- D.~j9 - _
'.i,y / / 1~~. '1 _
- - '7 U `a' 7
_ Notary Public in and fo the Statepf-flO~i~~at lar~ _
My Comm~ssion expir . a
- . ~
Retvrn To- .
- ,
first Federal Sevin~s 8 loan Assoc;at:on ~
- Qc :u.t F . , _ ! . . . , -
Fort P~_:cr, ~da L_. i...~_..~... ~,.~.....~~.o ~.l
f~p AKO~~~
- This Instrument Prepared By RiChard K. Ka.yes f1,LUC1E
_ First Federa! Savings & loan Association AOGEn POI~~S
~ of Fort Pieres , Flo rici~, ~~f R y~p~'
1'EO C8~1
RECORD
Checked By ~ - ~ ~ 33 ~ ~
..~5
~ ° R c~fi ~ e~522
~9u~ F
_ 28~83~
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