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HomeMy WebLinkAbout1446 J. To place and ca»~nuously kcep on ths bui!d~ngs now w hereafie? s~fuate on said land and on all equipmem and pe~~onally covered by Ihis ma~g~ sp~, wi~h ~1) premiums lhereon pa~d in iuil, fire ins~rance 7~ ~he usual ~~andard po~~cy form, in ~ sum .ppoved by the MOR~GAGEE, and wiridstorm iow~aoc~ i~ ths uwal t~~ndard potlcy form, in • sum app~oved by tM MORTGAGEE, in ~uch company or comp+nies ai the MORTGAGEE msy. . direc~j a~d all /U~ end wind~torm i~surance policie~ o~ any of sa~d build~ng~, any intere~t therein o~ p+~~ ihereof, in the agyroflate wm afwesa~d w in excess thereof. thall cuntain the uswl standard mat9afle~ clause a such otha claust ~s tM Ma19~gae may requu~. makinp tM lou under ta~d poli- ~ cies, esch and every, payabls to said MORTGAGEE ss its intarest may appear, and eatfi and every avch policy ~hall be p~on+ptly a~s gnrd a~+d delivered ~o ~ny held by u~d MORTGAGEf as iwihe~ secu~ity to said mw~g+ye debt, and, not leu ~M~ ten (10) d+ys i~ advanca of the expira~ion ol each poticy. ~o ds- liw? fo said AhORTGAGEE i renewal thrreof, w~ether with a tace~pt fw the pre~r+ium of suth renewal; and Ihere shstl be ra fire or winds~o~~n insv~ance pl~ced on ~ny of said bvildings, any iMereil therein or par) thereof, unless in tM focro snd with the loss payable as aiaessid: e~+d in tF?e eveM any ium f of money becomes payable ur.der such poliq or policie~ said MORTGAGEE shall have the option lo receive and app~y ?he s+me o~ +«a+^~ o~ ~F'° nndeb~ed' i ness secvred hereby a to pe!mit said MORTGAGGRS to receive and use it o~ any part thereof tw other purposes, v.~thout Iharcu~ wai~~~~3 or ~~~~pd~r- inp ~ny equ~ty, lie+? w right unde? w by vinus of ~his morsgaye; ~nd in tM ~vent isid MORTGAGORS sha0 fa any rsason fail to keep ~he ~sid premises w~ n~,~ insu~ed, p}ail W deliva promptly +ny of uid policies of imurancs to uid MORTGAGEE, or fail promptly to pay fully ~ny pre~mum thuefor +x in any respect fail b pe~fo~m, dixharge, execute, elfect, complete, comply wi~h and ab~de by thii cove~+nt, or any par~ hareoi, said MORTGAGEE may p~+ce and • ` paY fq such inw?ancs or any pa?t thsreof w~thoul w+ivinq w ~ffectinp a~y optan. li~~, equity. or right under o? by virtue of this Mwtgape. and the full amounl of each arsd ev~ry such paYn+a^t shail be imrrKdiafely dw and p~yatM and shall bear intaes~ from ~hs date tiu~eof u~~il paid at tM rate ol . n~ne pe~ cen+um pa annum and toge~her w~th such interes? shali be secured by the lien of this mortpage. 1. To permit, commil ot suf(e~ no waste, impairment or deterioratan of s~id p~ope~ty or +nY P+r1 thereof. 5. to pay al1 and s~npular the costf, chsrges and expenses, inciuding ~ reasonable attorney's fee u+d costs of aburads of title, incurred w paid at any time by said MORTGAGfE, bccavse w in the event of the faiture on the part of ~ha said MORTGAGOR to duly, promptly and fully periorm, d~uharge. exaute, effect, complcte, tomply with artd ab~dc by ea~h u+d every the »ipulations. apreemeNS, conditio~s, and covenann oi sa~d promissory note and thu matgape +~y or ei~her. and sa~d costs, cMrges and expenses. each and svery. shall be immediately due and p~yable: whether w r?ot there be natke d~ . msnd, attempt to cotiect w wit pend~ng: a~d the full amovnt of cach and every wch paymem shall bear interest from ~he date thereof until paid at the rate of ni~e per centum per annurn; end all said tasti, charpes ar~d expenses inturred w paid, together w~th such interest. ~hall be secured bY the lien of thw mortyaye. . 6. That (e) in the event of any breach of this Mortgage or defaulf on the pa?t of the MORTGAGOR. or (b) in the eve~t any of sa~d sums of money herein referred ro ae no~ pron+pNy and fuily paid within thirty (30) days next after the same severally become due and payable, withou~ demand or rwtice. or (c) in the evenl each ~nd every the stipulations, sgreements, cond~tions snd c6venants of sa~d promissory note and th~s mwt~sge any w e~ther are not ~uty, prompfly ar?d fu~ly perfwmed, d~uharged, executed, effected, complcted, complied wilh and abided by, then in e~~her or ~ny such event tM said ag greqate sum mtntaned in said promisswy note then remaining unpaid. with interest atcrued. and sll moneys setured hereby, shall betome dve and pay- able fenhwith, w thereafter, at tF+e opt~on of said MORTGAGEE, u tully and comple~ely aa ii all of the said sums of money were or~ginally si~puiatcd ro be paid on such day, anyth9ng in sa:d promiuory ~ote w in this Mortgage to the con~~+~Y notwi~hstand~ng; and ~hereupon or thereafta at the op~~o~ of said MORTGAGEE, without notice w dcmand, suit at law ot in equity, theretore or lhereafu~ begun, may be prosecufed ss if sll moneys secured Itereby had matured pnor to its institution_ 7. That in the event Ihat at the beginning of or at a~y time pending any suit upon this Mortgsge, w to fareclox it, or to reform it, o? to enfwce payment of any claims hereunder, said MORTGAGEE shall apply to the Cou~1 having jurisdiction ~hereof fw tF+e eppointment of a Receiver, suth Court sfiall forthwith appoint a rece~ver of said mortgaged ptoperly all and singular, inctud~ng all and singutar the income, p?ofits, iuues and reve~ues from whatcve~ source derived, each and every of wh~ch, it be~ng expressly understood, is hereby mortgaged as if spec~fically set for~h and dew~bed irt the granting and habendum clavaes hereof, and such Receiver shall have all the broad and effective funct~ons and powers in anyw~se entrusted by + Cou~t ro a Receiver, and ~ such appointment shaU be made by such Court as an admitted equity and e matter of absotute right 1o said MORiGAGEE, aod without relerente to the edequacy w inadequacY of the value of the properq mortgaged o? to the soivency or insolvency of said MOR7GAGOR o~ the defe~dants, and that such rents, profits, inconx, iuues and revenues shall be applied by svch Rece+ver according to the litn or equity of said MORTGAGEE and the practice of such Court. 8. To duly, promptly and fully pe~form, discharge, execute, effect, complete, comply with and abide by eath and every the stipulations, sgreemenri, conditions u~d covenanta ]n sa~d prom~ssory note'and ~hls mortgage set forth. 9. That in the event the ownenhip of the mortgaged premises, w any part thereof, becomes vested in a person other tha~ the MORTGAGOR, the hlORTGAGEE, ia successors and ass~gns, may, w~fhout notice to the MORiGAOR, deal with such successor or successor in interesf with reference to this mo~tgage and fhe debt hereby setvred in the ssrttz manner as with Mortgagor withoul in any way vitiating or diuharging the Nlottgagars liability herr under or upon the debt hereby secured. No sale of the premises hereby mortgaged and no fwbearante o~ ~he part of the MORTGAGEE w iri successws or assigrn and no extension of the time fw the payment of the debt hereby secured give~ by the MORTGAGEE or its svctessors or au~gns, sfiall operate ro release, d~scharge, modify change or affect the original tiabilA~of the MORiGAGOR here'~n, either in whole or in part. 10. it is specifically agreed that Gme is of the esxnce of this contrad and that no waiver of any oblgation hereunde* or of the obligation sr cured hereby shaU at any time thereafter be held to be a waiver of the terms hereof or of the instrumeM secured herby. I1. In aeid:tio~ to the forego:ng monthiy payments of princ'pal a~ interest requirrd by the promissory note secured hereby, mortgagot tovenants and agrees to pay to mo~tgagee with each monthly payment an add~~ional sum estimated by mwtyagee to be equal to 1/12 of the an~ual cost of the follow- ing: . A-All real property taxes levied or assessed agai~st the above descrihed real estate_ ' B-Premiums on fire and windstwm insurar.ce as herein requ~red to be carried on the improvernents situate on the above described premises. C-Premiums on s~ch mwtg~ge guaranty insurance as mortgagee sha:l from time to time deem fit to tsrry on the ban secured hereby. ~ Morrgagee shail .kom time to time notify mortgagor in writ~ng of the amount due a~d payable herevnder and such sum shall thereupon be due and E F.ayable on the due date of the rxxt monthly payment and each successive month thereafter urtil mwtgagee shall notify mortgagor of a charge in s~ch 's a=:ount. Such sums shait be applied by mortgagee toward the payment of real property taxes, insurarxe prem.ums, and mortgage guaranty insurance ~ premiums. IN Y11TNE55 VJHEREOF, the sa~d MORTGAGOR has hereunto set his hand and seal the day a~d year firs? afwesaid. Signed. Sealed and delivtred in the presence ofi ~ ~ ~ csN4 Seaq . ~ ~ ~ ~ ~ (4a~ '(Seaq STATE Of FLORIDA ~ SS. couNnr oF St Lucie Befwe me personally appeared K@I1A@t~1 C. Coehran end Dp=t}fa F O hr~ his wife, to me well known and known to me to be rhe individuals deuribed in and who executed the foregoing instrumeot, and acknowtedged before me that they executed the -same for the purpcKes therein expressed. And the sai ~rtha F• COC~lIa11 - wife of the said Kenneth C. Coehran opcn s separate snd private eaaminatwn by me taken separate and apart from her said husband, atknowledged to and before me that she executed said instrument freely and volurr rarily and without any compulsion, constraint, apprehensiop~, or fear of w from her ssid husband. , WITNESS my hand and offitial seal thii_T/~ dsy of ~ ~1,..p. l9~ .4 ~ u_~ Nofary Public in and for Stat idd7~~~U1gS,~ My Commiuion expires: , • ~r." . Retum To: : > • • t~ , ¢ ~ ~ First Federat Savings a toan l~ssociat~on Nt:TLRY Pli?tIC. $TATf Of F1ARlQA;K ~E~ ' - Of Fo~t P~erte_ !'1 Cp;•::.`.iS:.iCN E."•PIRES -~A~. •7• ~ 7 G : - Bi1i~~ ` ' i : ' Fort Pierce, Fbrida r"~~`'8 `y " ~ i _i . L. n •~l ~ - fi L,~'~• • ~ . E ~ ~S=~,~~ k~~~~` ~ This Instrument Prepared By Rj~ChBrd K. K~?yeS F~~ED RM~ AECQ~ R ~ ' ~ First Federal Savings 8 Loan Association ST.IUC~E COUMTY ~~w• ~ of Fort Pierce Florida pac`~ rc~ta~s l ~ CIEQ~ Ctift~Ult COU~t ~ ~ Checked By RECQRC VER~r1E~.r+~--~ r• t1 9 451?1~'~~ ~ ?t8 P~~443 _ - - - - ~ - - ~ ~ ~ ~ ,s~ ~ ~ . ~ v~v_~_.