HomeMy WebLinkAbout0894 3. To place and cominuously keep on ?Fw bui!dings now a heroaf~e~ ?ituete on ti~id land a~d on ~II eqv7pn~N and p~nonally covercd by thii morly-
egs, w~ih all premivm~ ~hereon pa:d in fuN, f~re int„r~nca m ths ~so~l standarJ yo:icy lam, in • s~m ~p~xoved by ~h~ MORiGAGEE, and windstam
~~sura~c~ in ths usual sundard pol~cy form, i~ ~ sum ~pproved by the MORTGAGEE, in such comp~ny or comp~ni~s ~t ih~ MORTGAGEE may
d~rect; arx! all firs and winJstorm insuronce pol~cies on any of said build~ngs, any inte?est thsrein w pa~t thereof, in Ihe agyrepN~ tum alatsaid w
in excess thereof, shall :onrain the usual sta~ulard mor~gsgee ciauie w such o~hsr c~susa ~s tM Muty+gse may reQui~~, mai~np tM loss under ~au! poli
c~ei, each and eve~y, payab!e fo •a~d h1iURiGAvEE ss ~n interr~l may appea?, a~d each and eve.y iuch poi~cy shall be promptty assy~~ed and deGvered ro -
any heW by seid MORTGAGEE as f~rthrr srcurity 1o said mwt9age drbl, and, not Iess than ~en (10) d~ya in a~+uue ot ~he expir~~~on of each pol~cy, ~o d~-
I~~er to uld MORTGAGEE a rc~~rwal thereof, ~ogeth~r with ~ rece~p~ for the pramwm of such renewal; and ~f~ere shall be no f'ae or windsio~m insu?ancs .
plecetl on any of sa~d build~ngs, any interesl ~herein o~ part fhereof, unlrss in the form a~xl with the loss payabie as afo~esaid; and in the evenl any ~um
of money becomes payable undc+ such policy w polKies tsid MORTGAGEE shail have ~M opuon Io receive and ~pply the same on xcoun~ of the indebtad-
neu secured he~eby or ro perm~t sa~d MORTGAGORS to receive and use it p any p.vt rhr.eof for o:her purposes. .v~rnout th_+aoi wa~+.~~3 or ~n,pa,r-
:~g any equ~ty, I~en w r~ghf unde~ w by virtue of thii mor:gage; and in the eienr ta~d MORTGAGORS sha? for any ~eawn fail to keep Ihe sa~d p~em~ses w •
:nsvred, or fsi! to defiver p~anptly any of said pol~cies ot inw~ance to sa;d MORiGAGEE, o~ fail promptly to pay fully ~ny premium therefor p in an~
~espec~ fail to perform, d;scharge, exec~te. effeu, comp+ete, comply wi~h and ab~de by tF~s covenanl, a any part he.eof, sa~d MORTGAGEE may pl+ce and
pa r for such I~SUfnMO or •ny part ~hareof w~+hout waiving or af?euing any opt~on, lien, equny, or right under w by vhlw of this Mwrga9e, and the
amw,m o( each and every such payment shall !x ~mmecliately d~e and payab!e and shall bear interes? frar~ the date thereof until paid at tM rate ol
e per centvm per annvm and tog~~thzr with wch inteiest shaii be srcured by the tien of Ih~s mortgage.
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1. To permit, commit or suffer no weste, impairrnent ot drterioration of sa~d pioperry w any paA thertof.
5. To pay all and singular the costs, cha~ges a~d e¦pensri, including a ieawnaLle attorney i fee and costs of sbst~ads o! title, incurred a p~id at
n~y ~;me by s3~d MGR1GAGfE, because or in the event of the fa~~ure on 1he pa~t of the ta~d MORTGAGpR to duly, p~omptly and fully pertwm, d~xharge.
_,.ecure, ef(eU, comptete, comply wah and ab:de by each a~d every the s~ipulations, agreements, conditiona, arx! covenants of aaid p~omfssory note and this
- ~~rgage any or e~ther, and sa:d costs, charges and expenses, each and every, sfia~l be ir~mediately due and paysble; whether p not ~here be notite ds
~:and, attemp~ to coliect or suit pe~ui,ng; and rF~e full amouM of each and every such payment shail lxar interes~ fram the date 1lxreof u~til paid at 1ht
o' oine per can:~m ~er an~~u:n; end au sa{d cos~s, char3es and cxcenses ~ncurred o~ Naid, together w~th wch interesf, shall be secured by Ihe Iron of thit
mortgage.
6. Thaf (a) in the evenf of any breach of thia Mortgage w deFault on the part of thc MORTGAGOR, or (b) in tfie event ~ny of wid suma of money
here~n referred to be not p.omptty and fully pa~d wnhin th:rty (30) days next after ~~e sanx severa!ly become due and payabk, without demand or notice,
: r(c? in the event each and every the s~ipu~at~ans, agreements, cond~tions a~d covenants of sa~d promisso+y note and th~a mortgaye a~y p e~ther are nol
i~.,, promp~ly and fuliy ~rformed, ci.scha~g•_d, exec~red, tifected, compieted, compt!ed with and ab~ded Sy, then in e~~her or any such event the sa~d ag
~~_3ate sum ment~oned in said proaussory note ti:en remaining unpaid, wrth intere,t accr~ed, and all moneys sec~red hereby, shall become due and pay-
ac a forthwith, or thereafter, at the opr,on af s~~d t.10RTGAGEE, as fully and compie+rly as il all of the said sums of money we~e o+~ginally ttipulated
, h~ pald on Such day. anything in sa,d piorn;sscrq note cr in this Mortgag? to 1he conlrary notvvithstaoding; and thereupoo a the~ea(ter at the option Of
s•.i llIORIGAL',EE, witF:cui norice or demend, w~t at law or in equAy, theirtore or thereafter begun, may be prosecuTed as if all moneyl secured heteby
: d matuted pnor to rts instit~t~on.
7. Thav in the eve~f that at Ihc beyinn~ng o( or at any rime pend~ng any su~t upon thi3 Mortgage, w to idetlose it, or to reform it, or to enfwce
.,~~e~t of any cl~ :ns hereund~r, seid MORTGAGEE shall epply to the Cou~t having ~w~sd.cr~oo ~hereof for the appointment of • Receiver, such Covrt shall
•:;Irh apf.o~nt a receiver oi sa~d rr.o:r~oyed prope•ty al1 and s~r.gula?, irxiud•ng a11 and s~~~gu~ar the ir.come, profih, iuues and revenues trom whatever
~;-:r de.~YCd, each ar.d every uf whkh, ~r i~e~:g rxpressly ondrrstoo~, ~s hereb/ morTgagt~d as if spec~f~ca!ly set fotth and desttibed in tF?e granting a~d
r.:- ~~~~~'um c~auses he:cot, and s~.h Rece~~er shaG hr+e a:i ~he br~d and eH¢~ct~ve fur.ceons and powers in anywise eNrusted by a CouA to e Reteiver, and
--h ~~Fo~^'rr.ent shjli be made by svch Court as a-i a~^utted equity and a r:atter cf absol~te righl to said MORiGAGEE, and withoW re(ere~ce to the
_.i _.~,;acy or ioadrquacy of ihe vaiue of the properr~ mortgaged or to the so.vency or ~nsoivency o( said MORiGAGOR p ihe deftndants, and that such
'~.~'~~'S. PfO~d3, income, issues and revenues sfiaG be appL•ed by such Receive+ accord~ng to the lien or equity o( uid MORTGAGfE and the practite of such
Court.
8. To duly, promptly and iuliy perfo~m, dlscharge, exewte, eftect, complete, compty wiih and abide by each and every the stipulatior~s, agrcements,
d~t~ons and covenants m sa~d promissory nute and ~h:s mortgage set forth.
9. That in tfie event :he o•+~rnership of tF.e rrwrtgaged pre~iises. o• any oart thereof, becomes vested in s perwn other than the MORTGAGOR, fhe
._~'~~AGE`c, its successcrs and as_:gr.s, ~::+y, w,nc~u~ not,ce to the ,~;ORTG~OR, dea! with wc!~ sutcessw d wtcesso• in interest with reference to thia
~'3age and the drbt her~t~y secured in t~~ same ma:~ner as with Mortgagor vv;thaut in any way vitiating w d~uharging the N1o~tgagors' liabi~ity Fkrt
or Upon the debt hereby sen;rad.. ~.o s..'e of the Fre:n,szs hereby rnortgag«d ar,d no iorbearanee on Ihe part of the MORTGAGEE or ita successors
r;ss~gns aa~d no eatension ot th~ fcne far the payment of the debt h~ rabr secweJ given by the MORTGAGEE or its suttessort or ass~gns, shall operate
o rr~ease, dacharge, Mod~fy :hanye o~ affect tt,e o~~g~n,i Gau,srty oi ihe M.ORfGAGOR he~ein, either in whole a in put.
10. It ;s spec:f~:ati1 a~r~ed rhat t~me is cf the essence of thls conr:act and that no waiver oi any obligation he?eunder a of fhe obligation se-
o;red Fn:reby ahat~ at any tir:e tn~reafte~ be ne!d to be a uaiver of the !erms hereof or of the instrumem secured htrby.
11. In add.~]v~ to the foreqe:~w~ mon;l;'y pat~n-~nrs of pr:nc na1 and intzrest req~ired by 1F~e prom:ssory norQ secured hereby, mortgagor eovena~ts
agr~es to pay to mo-tg~qee w+th eac~ ~,•on~h~y ya~~.:er.t an a•id ~:ona: SJ'T cv~R atecf by mortgagee to be equal to 1 j 12 of the ann~al cost of the follow-
A-Afl real property te.es E_vied or ~sses~c-d og~i•.s+ th~ ahove desr~h.j *eal estatc. i
t
$~~~Frerr.~u~ns en fsre and v:i•.ds+or:,-~ ~nlu~a~ce as iicce~n r^;;~.red e~ ~ c~rried en ?he ~mproveme~fs situate o~ the above described premises, j
C-Prernlvrns an si~ch mo,tg~ge gva•anty ir.sura~ce as mo~tgagee sha~l from r:me to time deem fit 1o tarry On the loan secured hereby.
Mo~tgagee sha~l ~.om ti~-:r to r~:-,e r.c.~f; m.e,r~:gm ~n v:~iting of ~he an,o.:~t dve and payable hereunder and such sv:n shall thereupon be due and
i . i, e on 1he d~e cia!~ of t~_ r.•~Kt ~~o,thl; pay:+:~nt and eacl, wccHss~ve movh rhereafter ur.i:i mortgagee shaU notify mortgagor of a change in such
' -vr.t. Such wms s~a~i oe ap~.i~er1 oy ~m•tgagee ~oxard the payment of real property tazes, insurante prem:ums, a~x1 mwtgage guaranty insurance
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~ Ih LW7~ic5S VJH.R_OF, rne sa~d MORTG v^2 has hereo:ito set his hard and scai the day and year first afwesaid.
~ Sig . Seal nd deliv ed pr ence of: ~ ~ t
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; ~ i~m . nig 'q
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~ --.]Glld~Sd.-- _ y!_K-~',~~- r0 • ~ 1 ~ • Seaq
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~ ~ "~'E OF FLORIDA
~';TY OF _-~~_~__L'~~~___ ~
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Befure me personalty appeared _ ~V'1111aT0 C. Knic~ht a~ ~
~ Dorothy D. Knight
~ - his wife, to me well known and known to me to be
~ _~:dividuals descrioed in and who execured the foregoing instrument, and acknowledged before me ihat they executed the same for the purposes
~ ~_~<;n expressed. And the ~d~d__ Dorothy n• :Cniyht
~ of the said _ ~':illiam F. Knight , ~pon e sepsrate ~nd privafe
~ r,af~cn by me taicen seperate and apart ira~ F~er said husb~nd, ackno/vledged to end be(we me that she executed said inslrument freely and volun-
~ i aod w~tho~r any compuis+on, consnaint, apprehens:on~, ~fea~ of or from her :aid husband.
` YiiTtvE55 my I~ard and offic~al seal this- _ day of Rebruary q, D. 19 75
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/L[p AM4 RfQ pflQ~~ + .
i~ UCIE C4UNTX~A~- h.
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~~OpER Pp1TRl~ Notary Pubtic in the State of Fl~citla at t5 9~ 1
' Q<QRK ~~SI~iuIT C~(~~T My Commission expires: ~
3 Return To: RECOR~IV~FI1PI~p ~'„~+~y'~ ~
_ ~ ,y Notary Pubf::, SfoN ~ ~I~de u~ ~
r:rst Federo! Savin~a 3 loan Associat:on i/ ~1y Commi;sion ~x~rC ltd~ ~~Q • Y'
. o. ~~,f ` P«~ fte 10 3~s PH - ~ ~
~ Fort P~~r~r. F;c~ed.3 ~ Bo:wisd by M,erieoe~F~i Cas~.Ca
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a 301119 ; ~ ~ ,:.1Qw
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~ This Instrument Prepared By Gary F. Ellwood w~.~'!.;;n~•~~'ti`~5 `
~ First Federal Savings & Loan Association
of Fort Pierce, F lor icla . •
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v 800K ~~JU PA6E O~ . ' ~ : ; ~ ~
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