HomeMy WebLinkAbout1799 3. To pla<e an~ conl~nvously trep on the b~iid~ngf ~~ow o? hereafrer ~ituase on se~d ~and and o+~ ali eq.+~Wnrnt and peno~+~iy covered bY ~~~~s morlg-
e~e, w~th all pre:n:~~~is :herron pa d in f~il, firr ins~:an.a ~n the ~suot s~andud poi~cy form, in a su~n ay~uovcd b~ r: ~~~..2~~%~GEE, a~~d w~ndsta~n
;nsur~nce in tha usual standard po~•cy (am, in a su:n e;.pro.rd by ~he A\ORiGAGfE, in such compaoy o~ <o:~~~an.es' as ?he M02IGAGEE may
d~rect; and all ii~e and w~ndsrorm ~n~ura~ce po~~urs on sny of sa~d buiid~n9s, ~ny interesl lherein o~ par~ eh:reoi, in the agg~~~ys~r s~~~ afaesa~d or
in e:ccss ~hr+roi, s~all co~~~+in tha vsuat sta+:Ju~ mo:~y3gte clau~e o~ s~ch o~Fu~ claua~ as the Mo~ty~yee may ~ryuae, ma?u~g tiu ioas u~~dar i~d poii-
c:rs, e~ch and avcry, payaLse ro ia~d AtJR1GAGEE as ~ts ~ro~rrst may aNpe+r, and each and e.e~y ~uch po+~c,r skatt be p+ompuy ass g~~.d a~~d dr~~1rrod ~o
eny hrld by se~d MORTGAGEE as furihar sr:~riiy ~o said n:ortgage debt, and, not less Ihan ten (10) days in ad+ance o~ ~Fx: ewp~~e?~on of each poGcy, to dt-
I~ver to said MORTGAGEE a.enewal the~aof, toge~her w~~h a fKP~+11 fu iAe pr~m~um o( such re~~ewal; and ~hc~e ahatl !x ~o f~re or w+~:Ja~o~~n inwr~nce
p:eced on any of said buildu.gs. ~~y ~merest therein w part tF,s~eof, u~~eu in ~hs (onn and wnh ~he loss payabte as afwesaid; and i~ ~he eYeM any sum
of mooey bcca~~es payab:e vt~der s~ch ~wl~cy o~ po~~c~es sa~J MORiGAGEE shall have ~he opT:en eo recr~ve e~~d apNly ~he se~s~a on accoun~ 01 t~e i~~dote~d-
na:s secv~ed htreby w ro pern~lt s~~d ~AORTGAGOR$ to rece~ve and uss i? u any part ~hai ~f tor otnor HurF.oers, '"`F°"'
~ny aoy equ~ty, I;rn w r:ght under or by virtue o( thii mor!gage; ancl in ~M event sa•d MORTGAGORS ahaq (w any ~eason Fail to kcep the so~d prem~i~s so
~:~svrrd, or fa~l to del~ver promptly any of sa~d po~~cins ot insu~ance to sa~d MORTGAGEE, or f~~l promptly to pay f~;ly any prr~=~~~~~ therefor o~ in any
respect fail ~o periwm, d~schaiqe, eixu~e, efiect. canptete, comply witA and ab~de by ~h;s covenant, a any pnr~ hrreof, sa~d MuP.::aAGEE may p'uce a•+o
pay fo~ iucA inaur.,nce or any part fhareof w~ihout Nraiving o~ aff~cting any opt~on. lien, equ~ty, or nyh~ undr~ a b~ v~rtue oi ~his Mo~s~age. and the
f~il amo~nt of each ar.d e.ery avch payment shatl be im~nediately due and payable and shall 6rar intere~l trom tha daq tM:reof un~l po~d ai the r~~e of
~~,::e per crntum per annv~n a~x! to3clhrr w~~~~ s~:h i+~rr.s~ shaii be s~wred by the lien of th~f margage. ,
1, To permit, commit or suffer ~o waste, impairment a deleriorot;on of sa;d property w any part thereof.
S. To pay aIt and s~ngulu ~Fk coars, charges and expenses, lncludfng a reasonable st~orney's fee and costs df abs+~ac?s of t3Ne, incurred or pa~d at
,n; ti~cr by sa~d A10RiGAG:E, because or in tF+a cvero of the ia~lure on the pa~t of ~he sa~d MORTGAGOR to duly. prontprly and f~lly pe~form, dncha.qe.
_.~~cvre, effect, complc~e, compty w~rh and ab:dr by each and every tne srip~lairons, agrre~nen~s, cond~t~ons, and covenanrs o( sa~d p~w*~~sso.y note a~d ~his
„orrgage any w e~~he~, and sa.d coit~, charges and eapenses, each and every, shall be immedmtely due and payaWe; w'~efher or not there be not~ce da
mand, atte~npt to coilect p suit pend~ng; and the fu11 amounl of each and every wch payment shall bea~ interest from tAe date thereof unril pa~d at the
.,rc~ o± nine per cznwm ~r anuu:n; and ad sa~d costs, ci~argrs a~td raprnaes incurred p paid, together w~th wch interest, shall tx sec~red by +he I~en of this
i
mortgagl.
6. T1+at (a) in the event of any breach of this Mortgsge or defautl ~n the part of the MORTGAGOR, a(b) in the eve+~t any of sa d sums of money
::rrein r+feaed fa Oa nol p+omptly and fu:fy pa~d v+~thin th,rty (30} deys next aite~ the same seyerally become due and payab!e, withou~ demand or nouce,
or ,c) in thr event each and eve~y the s~~puiarwna, s9reaments, co•.d~t.ons arfd cu.e~+nrs of se:d pr«~uawry note usd ih~s rr~rt~age eny w e~the~ are no1
ivty, p~omptly and fu!~y performed, J•scharged, executed, eifected, compfe~ed, compl~ed w~rh and ab~ded `ay, tF~en in erther or any such event ~l+e ea:d ag
~re9ate wm rr~nuoru~d in said promisswy note then remaining unpa~d, with inter.st accrued, and a71 mooeys sttured hereby, shall become d~e and pay-
ab:e fca~hw:th. or tt+erea!tar, el the opGo:~ ~f s.+:d MQRTGAG~E, as fu:iy and compie~ely aa if a~l of the w~d sums oi money wrre ong~na;ly s~~pu:a~ed
ro be pa~d on such day, anything in sa:d pro+n~aso~y note w in this Mortgage ro ~he cororary notw~~hs~a~~d~ng: and the~e~pon or thereafter a~ ~he op~.on of
u:d MOATGAGEE, w~thout norice w demand, suit at law a~n equ~ty, tFurefae w tkereafter begun, may be prosecutrd as if all moneys sec~red hereby
r,_d maturtd pncr to ~ts institwion.
7. Tha1 in the event that at the beginni~q of ot ~t any time pending any s~it upon th~s Mo.tgnge, w to fweclou it, or to retorm il, or to enforce
i~ayment ot any daims ht~eander. said tdUATGAGEE snatl apply lo thz Co~rt havirtg ~w~sd~ct~on ~h'rreof for the appo;ntment of a Retr~ver, such Covrt shall
i~~~hwith appoint a receiver of said mortgiged prope~ty all end singular, inci~d,ng ail and s~ng~lar ~he irtcon,e, prol~ts, ~ssues ar.d revenues lran w~+ete~er
so,~ce drrived, each snd every of wh~ch, it br~~g express~y understood, ia ~ereby mortgaged as if spec•f~ca~ly set forth and descritxd in the g~antin~ and
h~6endum cla~sea hrreof, a~d such Receiver ahal{ have aTl the b~oad and effecnve funu~ons and Fo.vers in anyw~se em~usred by a Coun to a I.ecei~er, a=~d
x_ch ~ppoin:ment shatt bc made by svch Court as an admittrd eqvity and a matrer of absoluee r;gh~ to satd MORiGAGEE, and vri:hcut refercrue to the
ed_yuaq or inadeq~aty of the valve oi the p+oE.e.ty mortgaged or to the so Ye~~cy or ~nsot.~ency of sa~d MORiGAGOR e~ the de+~ndants, and ~hat svch
re~::s, profits, income, iuues and revenues shall be appiied by such Recriver accord~ng ~o the tien or equity oi said fAORTGAGEE and the p~acuce of such
Court.
8. To duly, promptly and fvlly perfo~~~, d~scharge, execure, effect, complete, comp~y with and abide by each and every the stipulations, agreements,
c.;nditions and covenants ~n sa~d promissory nete and this mortgage set forth.
9. That in the event the ownenhlp of the mortgagad premises, a any part thercof, becomes vested in a perwn other than the N10RTGAGOR, the
:'~fiTGAGEE, its successors and assgns, rr~ay, w~thout notxe ro the A:ORTGAOR. deal w~th such svctessw or successor in interest w~th referer.ce to this
o~+gage and the d-bt nereby secured in the sarre ma^r.er as w~+h Mortgagor w~thaut in any way vitiating or d~scharg~~g the Mortgagori liab~lity herr
~~,der a u~on thr debt he~eby secured. No saie of the prem~ses hereby mort9aged and no iorbearance on the part of ~he /TORiGAGEE o~ its successors
c• ass~g.u and no oxtension of rhe time for ~he paymem of the debt hereby secured g~ven by the NK~RiGAGEE or its successws o~ au~gns, a=~all operate
io re;ease, d~scharge, mod~fy change a affect the or~g~nal liao~:~ty of the MARTGAGOR herein, eithe~ in wl.oie or in par~•
10_ It is speu4icatly agreed that t~me is of the essence of this contract and that no waiver of any ob~igat~on hereunder w of the obligat"an se-
cv•ed hereby shall at any time ~hereafte. be he:d to be a warver of the terma hereof or of the instrument secured herby.
11. In a3d.ro~ 'o ~he forego ~~g monfh'.y payments of princ pal ar.d inre+esf requhed by the prom~sscry no:e secu•ed herrb~. mo:tga~ar covenants
~ ~ agrees :o ;.ay to mo-tgagee v+~th each ~r.onrh~y pd~: ~?nt an add:~wna{ sum est~n.afed by mo~~g~gee to be equai ~0 1, 12 of u~c an.:..a~ :ost af thc !o!!ow-
~
A-A!I real prope*ty taxes le~+iad x ass-~ss_3 eg+:~~st th~ a'..~o~+e dezcr.bcd r.al esrate.
B--PfCR::V'.^.s on fue and wir~dsro~•n insvr3r.ce as nerc6n ~eq~,red to b~ car.:_~d un ti~r ~mproveme~ts s~tvatr on thc a'oove dsscrib-=d premis~s. _
C-Pre~r.~~ms o~ suth mortgage g~a•anTy ir.svrance as moriyayre si~eli (ro:~: I:.ne to t~~ne derm fit to carry on the loan sec~red he+eb~r_
Mw~gagee sh,;t ficm rime to t~me no'~f; morrgag.^r in wrrt~ng of the a^o~~r due and payable hereunder and such sv:n sti~lt thereupon be due and
i :+,ab~e on the d:,e da~e of ~he next month'.y paymem and each svccessi.e rr.o~:rh theteafrer uarii mortgagee sha!1 notlfy mongagor of a change_~ w:h
o~n+. $uch sums st~a:i be a~pGed by mortoag•rc to vard the payrr.e~i of rea! proreriy tazes, insurance prem.ums, a~:d morigage gvaranty rante
~ :-•c~^.iu.^.~s. - ~ ~ ~
I IN '117NE5 ':.'H EOF, the aid MORTGAGOR has hereu~to set h~s ha~:d and seal the day and f' t.oresaid. ~ f-
Sig a!ed
~nd~ de(i in the presence ofc
~ a,.../ z/• c _
~ • . , ussell Pe er e '
- p,~.~ ` / - , - an
~ ~ usan P . Petersen ~~a,~
5~,+ E OF FLORIDA
SS.
` ;~,yiy pF Indian River ~ -
Before me penorwll~ appeared _~315~?GP~ ~ Pe ersen s^d
Susan P. Petersen h~s w~fe, to me well known and known to me to be
~ ~he ind~viduats descr~bed in and who e:ecuted ?he fore~ o~ng instrument, and acknowiedged before me that they executed the same for the purposes
r~e•e~n expressed. And the sa~d Susan P. Yetersen
~ G. Russe~.l Petersen `
r, of tM said s{at~ and p~ivate
c*am~nat:on by me taken separate and apart from her sa~d husband, acknowledged fo and before me that she exe,c.u~e~+sai~ _ ~!y and votun-
and w~thovt any tomp~lsan, constrjint, apprehens.on, or fear of or from heJuihusband. _.li;~~~.!~
~ e~„~~~,~~~ ~
WITNESS my hand and offEcial seal this_ _ day o~ ~,R '~_~9•. ~9-~
- H ~
! '
' 'S ~ s
(~iotary P~blic in and jo~ t~e: o br!~ ar~ .
k, Y ' ;3't~.
My Cummission eapiiss - e • . ~
.
Rr=urn To: Nplory Pabiic. Sto_e ~f Fioi~do al ~rgpil :~C~
2
^ ~
~ First Federal oan Auociat;on My Coroe+ission E:pires s~a. ~sh,
Of ior~ P.erce. Eondrd ty Amenwn F:n b Cutualtp CO:~.`,
~ Vero Beach Of f ice
~
P.O. Drawer 2847 ~ y 7 7
- vero Beach, Florida 32960
fllE~ ~~-~vr:DED
This Instrument Prepared By Richard V. Hope iT.IUC~~ -C~yj' FLA.
First Federal Savings & loan Association k~~ ~.'+S ~
of Fort Pierce t~l.`'? ~ CaL`Rt ~
ncrr: • i, .
Checked By Ju` ~ ~ ~ 3~ ~N ~+1~
gaox229 PA~~17 ~~s~z
99
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