HomeMy WebLinkAbout1449 3. To plac~ and continuously keep on ths buitdinys r+ow or hereafter ~ituats on said land and o~ ~II equipmsnt and p~nonally covered by this mortp~
p~, with •11 {xemiumi thereon pa~d in full, fire insur~nc~ i~ ths usual ttandsrd policy fam, in a s~in approv~d by tFa MOR~GAGEE, and windstam
insuranc~ M 1M usval itandard pol~cy fam, i~ a ium approved by th~ MORTGAGEE, in such con+pa~y o? compania as tF» MORTGAGEE may
dir~ct~ ~nd ail fir~ and windaturm i~suranc~ polici~s on any of said build~nps. ~ny Inttr~st tfier~in w part ther~of, in 1M a~yre9ato tum afor~iaid or
in ~acea Ihereof, sMll ca+rain tM usval ~tandard mat~ay~e clause a such otha c~avs~ as th~ Mortpagw may requu~, makinp the lou under ta~d poli~
ties, esch and ev~ry, p~yable to a~id MORTGAGEE as its in~e~est may ~ppaar, ae~d each and eve~y s~ch policy ihall b~ promptly ass 9ncd and detive.ed ~o
~~y hetd by said MORTGAGEE ~s fv~~Mr iecurity to isid matgaya debt, and, not tes~ tMn len (10) d~ys in advance of ~he eapiration of e~ch policy, to da
liva to taid MORTGAGEE a renewal the~eof, toy~tMr with a ncapt fw the p~emium of a?ch renewal; and there ihatl be no f~re or w~uds~am insuranc~
pt~c~d on ~ny of uid buildinps, ~ny i~terest ti+erein or part thereof, unlass in tM fonn and with the lou p~yabl~ as ~fw~said; and in tM ewnt any swn
of money becomea payable ~nder such polity a policiei said MORTGAGEE shalt Mve tM option to rtceive snd ipply tF?e wme on account o( ~M ii+dab~ed-
neu iecured he?eby w lo psrmil said MORTGAGORS to retoive a~d uss it w any part thereof fw othc~ purposes, wilhout th:rEb/ waivi~~g o~ ~mpair-
inp any equity, lie~? w right uoder q by virtw of this morsgage; ~nd in the ~vent ~aid MORTGAGORS shall fa sny reason hil to keep the iaid premises w
inwred, a fail ro deliver promptly any of said polities of insurance to aid MORTGAGEE, a fail promptly to pay fully any p~~mium the~efor w in any
reipect fail b patam, discharge, execute, effec~, complete, comply with a~d abide by this covenant, or any pan F~eraof, uid MORTGACaEE may place and
pay fw wch insurance or any paA thereof withoul w+ivirq w effacli~p ~ny optiwy litn, puity, w righl under or by virtw of this Mort~a~e, and tht '
full amouo~ of each ~nd twry tuch p~yma?t shall be immediately dw and paysbte and ahall bear interea~ from ths dat~ thereof until paid at tM ~+te oi
nine pe~ ta?tum per a~num and togelher with such i~tcrest sMll be secured by IM lien of this morigagt.
1. To permh, tommif or sufter no wasfe, Impairment w deteriwatio~ of said prope~ty or sny pHt fhereof.
S. To pay ~11 and sinyutar the costs, charges a~d expense~„ includi~g a reaionable attw~+ey i fes and costs of abstracq of ti~le, incvrred a p+id st
any time by said MORTGAGcE, beca~se w in the event of the failure on the part of Ihe said MORTGAGOR to duly, promptly and fully perform, d~uMrg~.
execute, e(feN, comptete, comply with and abide by esch and every the itipulafio~s, agreemenn, conditior?s, and oovenann of sa~d promissory rate and this
mortgage any or aithsr. and sa~d cosb. charges and exper?ses, each aod every. shall be immediately dus and psyable; wl+ether a not there be notice da
mand, anempt ~o colkct or tuit pend~rg; and ths full amovnt of each and every such payment ihall bear i~teres~ from tha date thereof until p~id at the
rate of ni~e per centum per annum; and ell said costs, charges and expensea incurred a paid, ~ogether w~th ivch interest, sAall be sec~red by tM lien of thi~
mortyap~.
6. That (s) in the event of any breach of this Mwtgsge w default on tM part of the MORTGAGOR, w(b) in the event sny of sa~d svms of money
herein referred to be not p?oinptly and fully paid wirhin thirty (30) days next afrer the same severaUy become due and payable, without demand a notice,
or (c) in the evem each and every ths stipulatiwn, ag~eements, conditions and covenants of satd promissory note and th~s mwtgsge sny a either are not
~uly, promptly and (vlly performed, d~scharged, executed, effected, completed, cwnpGed with sod abided by, then in eithet or any such event the ssid ag
gregate wm memaned in said promissory note then remaining vnpaid, with interest acaued. and all money securcd hereby. shall become dw snd pay-
able fwthwith, or thereafter, at the option of said MORTGAGEE, as (ully and complctely as if all of the said wms of mpney were aiginally atipulated
ro be paid on such day, anything in said promissory note a in this Mortgage to the contrary notwithstanding; snd therevpa+ w thereafter af the op~ion of
said MORTGAGEE, without notece w demand, suit at !aw a? en e~uity, thcrt(orr or thereafter begvn, may be prosecvted as i# a11 rttorieys secured hereby
had matured {x~or to its institution.
7. That i~ the evcnt that at the beginning of ot ~t any time pending any suit upon thi~ Mortgage, or to fweclose it, o~ to refwm it, or to enforce
psyme~t of any claims he~eunder, uid MORTGAGEE shall apply to the Court Mving jurisd~ctioo thereoi for the appointmem of a Receiver, wch Courf shall
fwthwith appoint a receiver of uid mortgaged property all and singular, inclvd~rg all and singular the income, profits, iuues and revenues fram whatever
source derived, each and every of which, it bei~g expressly understood, is hereby mortgaged as if specifically set iwth snd described in the yraming a~+d
habendum clauses hereof, and such Receiver shall have all the broad and effective funct~ons and powers in anywise entrusted by a Courl to a Rcceiver, and
such sppointment shall be made by such Court as an admitted equity and a matter of absolute rigAt to ssid MORTGAGEE, snd withovt reference to the
adequacy p insdeq~acy of the value of the propery mwtgaged or to the sorve~cy or insolvency of ssid MORIGAGOR or the defendann, and that auch
rents, profits, income, issues and revenues shall be applied by such Receiver according ro the lier? a equity of ssid MORTGAGEE and the prsdice of such
CouA.
8. To d~ly, promprty and fu!!y perfwm, discharge, execute, effect, completr, comply with snd abide by each and avery the stipu{atians, sgreementa,
ca+ditans and covenan~s ~n sa~d promissory note and this mwfgage set fwth.
9. That in the eveM the ownership of the mwigaged premises, a a~y part thereof, becomes vested in s pe~son other fhan fhe MORTGAGOR, the
MORiGAGEE, its svccessors and asaigns, msy, without notice to the MORTGAOR, deal with such successor w successw in interest with ?eference to this
mortgage and the debt hereby ucured in the same man~er as with Mwegago? without in a~y way vitisting or dis;harging the Mortgsgon' liability hera-
under or upon the deb~ he~eby secured. No sate of ~he Fremises hereby mortgaged and no fwbeara~ce on Ihe pan of the MORTGAGEE w its iuccesson
w auigns and no extension of the time fa the payment of the debt he+eby secured given by the N10RTGAGEE or its succeuors or assigns, sMll operate
ro release, dixhsrge, modify thange or a(fect the original liability of ~he MORTGAGOR herein, eithe~ i~ whole or in put.
10. It is spec~fically agreed that time is of the esxnce of this contrad and that no wsiver of any obligation hereunder w of the obligation fr
cured hereby shall at any time thereafter be held to be a waiver of the terms he~eof o? of the instrument secured herby.
11. In add~tion to the fwego:ng monthly payments oi princ'pal and interest required by the promiuory note setured hereby, tnortgagor tovenants
and agrees to pay to mortgagee with each monthly payrnent an add~rional sum est;mated by mortgagee to be equal to 1/~12 of the annual cost of the follow-
ing:
, . A-All real property taxes levied or assessed agai~st the above deuribed real estate.
~ B-Premiums on fire and windstorm insurance as herein requ~red to be carried on the improvements situate on the above dascribed premises.
!I ~-Premiums on such mortgage guaranty inwrarce as mortgagee shall from time to time deem fit to tarry on the loan secured hereby.
~ Mwtgagee shall from time to time notify mortgagor in w~iting of the amount due and psyabk hereunde~ and such sum shall thereupon be due and
payable on the due date of the nezt monthiy payment and each successive month thereaiter err.til mortgsgee shall notify mortgagor of a change in such
amount. $uch sums sF.all be applied by mortgagee toward fhe payment of real property taxes, inwrance prem:ums, and rtwrtgage guaranty insurance
premiums.
IN WITNESS WHEREOf, fhe uid MORTGAGOR has hereunto set his hand and seal the day and year fint afwesaid.
Si ,~ealed and d ivered ' the presence of: `
~~-~c1 -~1~-~ :se.n
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al)
STATE OF FIORIDA ~
$t . I.LICle -
Cour~7Y OF
Before me penonally appeared D8V~d M• ~~ZeS/ and
Jeauanette Bailey his wife, to me well known and known to me to be
rhe individuals desuibed in and who executed t4± foregoin~ instrument, and acknawledged before me that they executed tix same for the purposes
rherein expreued. Md the said Jeannette B~Ze31
w~fe of the said ~V~d M. Bailey , upon a separate and p~ivate
examinatan by me taken separate and apart from her said hwband, acknowledged to end before me that aha executed said instrument freely and volurr
rarily and without sny compulsion, constraint, apprehens~on, or fear of or from her said husband.
_ WITNESS my hsnd and official teal this ID~ dsy of Ma q, p, 1974
4 ~M4 aE~ ftOE A /
~~tuC`~ CO~N~Y FL Notary Pubtk in u+d, o~ the}'~ate of Florida at t~arpi
! ~ My Commiuion expires: ! ,
Return To: 1~j~fk f~~'~ 0~t~ ,~~y}tl:l.l:.'i/!i~
first Fedent Saving• 3 Loan Association ~a~ ~+^C~~` C s l~~~
afcoac , ~.~-~r' ~ r, •,s
Of Fort P~erce. YEP f _ . _ ' ' y
FOrt Pierce, Flo.~da ~(t . .,.......u ~ ~`-fO~!:~ . .~d i
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r 5 v 32 ~ , ~p-` y c; =
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~18~ 7-~7 : o` v z~ _
This Instrument Prepared By Richard K. ICa?yeS j~~, ' J~ =
First Federal Savings & loan Association Q.••' =
of Fort Pierce • A
. , Florida s,'''~ r~ ~ .
Checked ey .
i
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UR~ ~
BooK~27 PA~E14~7
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