HomeMy WebLinkAbout0132 3. To piau and continuously keep on ~he build~~gs now a hereaf~er ~iwaro oo said tand and oo all equipnent and psrsonally cor~red by this ma19-
age, with all premi~ms Iheieon pa~d in fuil, lire insurance in ~M usual standard No~~cy tam, in • sum apptoved by the MOR(GAGEE, and w~nd~tam ~
~nsuranc~ in ths uawl ~tanda~d pol~cy foim, in a sum approved by tM MORTGAGEE, in suth tompanY o? tw+~p+i?~es as 1M MORTGAGEE en~y
d~recf; and all iiro and w~ndslwm insura~ce policies on any of s3~d bvild~ng~, any inlero~l Iherein w paN thcreof, in ?he aQyre9N~ wm +faa+'d a ,
in excei~ Ihareof, shall ca+tain ~he usual standard mwtgagee clause w such oihe~ c~auas as tM Margagee may requ~r~, ma~irq tF+s lo~s u~de~ u~d Poli~ ;
cies, each and every, payable to said A~ORTGAGEE aa ~n ~n~crest may appear, end each and e~ery svch po!~cy shall be p?ompNy ass gned and delivered to
any held by sa~d MORTGAGEE ss fur~her securiry to said mort9age debt, aod, no1 leu ffian ~en (1Q) days in advance of ~he axpiraGo~ of Nch policy, to dr f~-
l~~er to taid MORTGAGfE a ~enewal thereoF, togethar wi~h a rece~pt to~ the p:e~n~um of such renewal; and there sl~sll be no fire or windstwm insurance
p!aced on any oi said build~n9s, any inte~est thcrein or pa~? Ihereot, vn?ess i~i +h: form a~d with the loss payable as aiaeseid; and in the event any sum .
01 money becomes payable under such poticy w policies seid MORTGAGiE ihail Iw~ve ~he opt~on to rective a~d epply the same a? aao~M of ths indebted~
nrss secured hereby w to pe~mit sa~d MURTGAGORS ~o receive and use it or sny part ~hrr~~of for oiner puiE~oses, w;tho~t ~h~•~ u,r waiv.ng a unpau- ~
~ng any equity, lie~ w right undrr or by virtue of Ihis mc'!gaye; and 'n the evtn~ said MORTGAGORS sFwll fw a~y reason fail to kcep the said p~emises so }
~ns~red, a Fail to dalive~ promptly any of said pol~ues of ~nsura~ce to sa~d MORIGAGEE, w fa~! promptly to psy fully any pre+n~um the~efa w in a~y j
;e+prct fail lo perfwm, discha~ge, execute, eFfect, ca*~p'rte, canply wi~h and abide by th~s covenant, o~ any part hereof, said MORTGAGEE may p~ace a~~d i
par (w such in~uraoce or any part thereof without waiving or afixting any op~ion, lien, eq~~ty, or right under w by virtue of this Mortgage. +~d the ~ ~
t~'I arnount of each and every such paymem sha1; be immedwte~y due ar.d pa~able and shall brar inteiest from tho date the~eof u~til poid at the rate ol ~ t
c per cenwm per annu:n and fo~rthe~ with such i~ve•cs! si~al~ t~e secur•~d i~y tfie ?:en of this mortgaga. '
4. To permit, mmmit or suffer no waste, impairmeN or detzr~oration of sa~d property w any part thereof.
5. To pay all and singulsr Ihe costs, cherges and expe~srs, includ~ng a ~easonaole a~?orney's iee and costt of sbstr~cts of title, incurred a paid a1
±~y t~m.e by said MORTGAG:E, betause w in ~he event of the ?a~~ure on ~he pa~l of ~he said h10RTGAGOR 1o duly, prompUy and fu~ly perform, d~xharqe,
:.ecufe, effeU, complete, co~++ply w~th and ab:Je by eacfi and every the st~pulat~ons, agre~ments, condltions, and covenanK o; said prom~ssory note a~tid ~h~t
~,ongags any or either, and sa:d costs, charges and expenses, each and every, shall ba iTmediatety due and payable; whe~he~ or not ~he~e be notite de
-n~~d, at~emp~ to toliect w suit pend~ng; and the full amount of each and every such payrneM shall bear iMerest from 1he date thereof until p~id at the
r, o~ n.re per centom prr an~:um; and ail sa:d cos~s, char~~s and cA;:enses ~ncu~red w paid, together wuh such inlerest, sAall be secured by the Sien oi this
merlgaga
6. That (a) in the eveM of any brrach of this Mortgage or de~ault on iFw p~~t af the ViORTGAGQR, or {bT 1he eve~f e~y of ssid sums of money
herein referrad to be no1 pranptly and fuUy paid witt~in Ifiirty {301 days next a:rer ihe same severally become due and payable, without demand W nolice, ;
cr tc) in the event each and eve~y the stipu~afions, agreements, cor.dif:o•:s and cuvenants of sa.d promiswry note and th~s mwtgage +~Y w eithe~ ~
]~.i~:y, {,romptly and fully performeJ, d~sci~a~ged, ezecu:ed, e;fxtea compiev~d, comHl~ed v:~th and a~~drd 9y, then in either w•ny such event the said ag :
~-~;ate sum memioned in said prom~sswy note tnen ~en~ain;ng uupa:d, w~th ~r~c~~r~' ucc:uad, and a~l moneys setured hereby, shall become d~re aod pay-
_ forthwith, or thereafter, at ti,e opr~on ot sa:d MORIvAG_E, as !u'.iy ar.d comp;.:wiy as if a? of the sald sums oi money were org~~ally stiputated f
o be paid on such day, anythir.g in sa:d pro~n~ssery note er in this hto~tgag•~ to 'fie co+vrary notwithstanding; and Ihereupw~ w 1he~eaftN a1 the option of S
s,.d NtORiGAGEE, vv~thout not;ce o• demand, s:it at la•rr or in equrty, ihrre;icre or ther~ai~er begun, may be proxcuted u if all moneys secured heteby #
d ma+ured pnot to ~ts institubon. ~
7. That in the evznt thet at the be~inn~ng oi er a1 a~y t~me pe:~d~~ g a~y su~t upon this ldortgage. w to fotKlose if, M fo refo~m if, o? to enfwte
~,en? of any c!aims hereur.d>~, »:d 11JRTGAi,~; sha~l aNply fo ~he Co~r+ t:-~.•~ .g ~u-~sd~crio+i thefeof for the appointment of • Reeeiver, such Court shall }
.;!n a~polnt a.ece~~.er of s~:d rt:orty.+ycd ~ro;,.•~ty a~; and sm•~v:ar, _::c! ~,g a~~d s~~~3utar th~ inoomq, p(ofils, issues and revenves from whatever
; _:ierived. each and every ot wi..ch, ~t tx~rg _.~,ress'~y unde~s':::.a. ~s ~.~::=~y ,,.o~+g.iyed as if speuficslly set fwth and deftribed in the graNing a~+d
ci~m ravses he:^of, and svch Rrceir•er ahal! F~+e all the ~~~ad a~,d e.i:e<•:.r f~nc~ o::s and powe~s in a~lywise entrusted by a Cou?t to a RKeiver, and
s_': apFciin!ment ihall be made 6y such Cow~ as ar, adn,;tted equrty and a~~ afrcr ot a~soi~+e rigM to said MORiGAGEE, and withoul reierence to the _
__i:~~cy o: inadequacy of the valve oi tne property murtgaged or ~o tlti~• so.:~~:y : r n:o.•.enr~ of sa~d /AORTGAGOR or the defendants, and that such
~s. proiits, income, issues and revenues sha~~ be app+~ed try such Rece~ver acwrd::~g io the lien or equity o( wid MORiGAGEE and the prattite of such
rt.
B. To du:y, prompriy and fully pertorm, d~scharge, execute, e+iect, con+~ieie, cu:n~:y w:sh and <t~de by eatfi and evety t~:r slipulations, agr~ements, f
d;?,c.ns and covenants in sa~d prom;ssory nore and fhis mortgage set forih '
t
9. Ihat in the ev~nt the ownership oi the mortgaged pre~nnes, or a~y pa~! tnerecf, 6xomes vested in a person other than the MORTCaAGOR, the (
::~?GdvEf, i's succ~sscrs and ass~3ns. may, w~:hou~ nof~ce to ihe A4GRiv:•.^.R, deat v.iih such successor or successw in interest wi~h reference to this • ~
• •g~,ge a~d tiie d_b~ hereby secu~ed in the same manner as w~th Marr~ego+ wrthou~ in any way vit+ating w discharging the Mwtgagors' (iability here ;
: or uc~on tha d:•ut here5y sec~~cd. No sa'~ of the Fre~nises h~•IeDy mortqaged and no forbearance on the par~ of the MORiGAGEE w its suecessas
~,:gns and no exte~s~o~ of the ~in:e fcr the oaymem oi t~~e drbr hs•eby sec~reJ g~~en by the MORTGAGEE or its successors o~ ass~gns, aiull opetate
F~,se, d~scharge, mocl~fy crange or a!fect the orig~:i::l cai::l,ty o; the M,ORiGAGOR he~a~n, either in whole or in part.
1R It ~s speuficaliy agreed tF+at ti:ne is of the esse:~:e of ~his co:~~ract and that no waiver of any ob~~gation hereunder or of the oblgation sr
.,~red hareby sha!t ai any ti~e thzrea'ter b? heid to be a wai~er of the terma hereot or of the instrument secured herby. s
11. tn ~cid rlc~ ro rne fOfBC>'O "~J'~~~1:`f • d'/RT'_^ts of ~,r~:~c ;.al acd ~^Te,= st reGu;.cd by the prom~ssory no!e sewred hereby. mortgagor covenants
;,•,~ees to pay !o rno~~gng^e wirh rach ~-,un~h:y ;..r;+.~e~it an add~+ic.~al sum esr~:ated by mo~tgagee to be egual to 1,'12 of the annual cost of the follow-
A-AI~ real prepert; taxes lev;~ o~ assessed ega~ st thc auove descnlxd real est~te_ 3
Pr.~.nv•~s en tire anti .vindstrm ~nwra•'.ce as iier~in roq~:~ed to b~ ca•ried cn ~he ~mprovements situate on the above described ptemises. ' ~
j ~-Pre~r.;un,s on such ~m~crg~ge gva•rv~ irsv•a~.ce as mo•tga~ee shalE ~rcn~ t:me to tirne dcem fit to carry on the loan seeured hertby.
I "l.ortgagee sh,:1 frorn fi~n? to 'i~r.e :~cr~fy mort^yagor ~n vir.ting cj tne a^-ovm due and payable fiereunder and such sum shall ther~ptlN~'d+q;~nd
f ,r,'~~ on tha due da!e of tn= eex~ ctio.,t~'y psym•,nr and e.;ch success~ve :*~on~h thereaft~r urtil mortgagee shall notify mortgagor~pf
a~~ ~
! :rr. Such s~ms s!~a~i be appi~ed E,y morc~r,gee totiard ~he pay=nent o( rea! properry taxes, insurance prem~ums, and mortga~ „9tN~•~~ ~i.
i
. ..~n~s ~ ~ - ~ - ~ -
Ih ~~ITNE55 V'1HER~OF, tn~ sa~d MORTG:.GCR has hereu~~to set 6is hand and zeai the day and(~ear first aforesaid. ~ a/;j '
Signed, Sealed and vered in the presence of: ""AY~ ~NS2~~~~ ~~t.~ : S' ~
~ ' J ' ~ f~~loiClC COUNIY flA. BY: -s . - ~ .r; . . • % •
; r ftOCER P01tRA5 Way U. Sines, g ~~d ~~,;q -
t RK C1fiCWT COUR
~ ]~~..~5~1~ ~ EC9R~'~F~~F~ED ~ '•~......••~n
' Z4 ~ i ~ ~ - - - - ~ ~ s
- ~ 3 10 ~
Q n ~
STATE OF FLORIDA COUNTY OF ST. LUCIE ~p~ ~rV~ ~
Z
I HEREBY CERTIFY, That on this lst day of ~Y . A•D• 19 7`~ • .
before me personally appeared ~Yne U. Sines xpti
wapeeii+w4y- President ~ - 3eoebqc ~ °f
WAYNE CONSTRUCTION CO. a Rlozida Corporation, to me '
known to be the persons described in and who executed the foregoing instrument, and severally acknowlQdgec~:the exe-
~ . =
cution thereof to be their free act and deed as such officers for the uses and purPoses therein mentioRed;, and .thet ~y
affixed thereto the official seal of said corporation, and the said instrumpnt is the act and deed ~~..said,corporatiofi}4~
' . r +
WITNESS my hand and official seal at Fort Pierce , said county d stat8: ^ '
Thi s instru~ent prepared by ~ ~ j = „ ' : : ~ ~
_ ;
Gary F. Ellrtood otar Pubtic, in and for State ~Clau aforesaid..•-~
First Federal Savings and Loan . .
My ommission Expires: ~ •
Association of Fort Piezce ~ - t,'
-•~'7~„!'•.!„~
` .
Checked By ~ 4
~
. , 800K~~ PAGE ~J~. ~ [
~
~
~ -
- ~L3, ;