HomeMy WebLinkAbout1940 3. To plete end contin~ously Aecp on 1ne bui!dings now or liereaha~ s~tuate on se~d land and on all ~quip.nent and pertonally covored by this mort¢
sgs, with all p~eneiums thnreon pa~d ~n f~ll, f~re ins~ronce in Ihe us~al ~fandud po+Ky form, in ~ fum app~ovad b~ the MORiGAGEE, and windatwm
inauronce in the uswl standard pol.cy form, in a sum approv~d by Ihe MURTGAGEE, in tuch company or tompanies a1 1M MORTGAGEE may
dlreu; and all firo and w~rtJato~m inwrance po6c~es un sny af sa~d b~,~~d~~gs, any inl~rasl Iha~ein or patl 1lxteof, in Ihe aQyrepate sym atoresaid a
in extess the~eof, shafl cuntain the ~sual sTandard mwtgagee U~use w s~ch o~her dauu ii th~ Nbrtyagee may requir~, makirp the loss under ss~d po1F
c~es, ~ach and every, payabir ~o said AtORT~AGEE as its irttrr.st rnay appear, and eath and every such policy shall be promptly ass.gned and deliveted to
eny held by said h10RTGAGEE as I~r~her sew~ity ro said moitgage deol, and, not leu thao te~ (10) days in ad+ante of tFe expiration of each policy, to de-
Gver to iaid MORTGAGEE a rcrx~wal thereoi, Iogedx~ with a rece~pt fo? Ihe pr~:nivm ot such renewal; and thero shall be no fire m winds~o~m insurante
placed on any of sa~d buildings, any ineerest therein or part therrof, unles~ in the (orm ar+d w•~~h the loss payable as afwesaid; and in tF~e event any sum t. ~
of money becomea payab~e ~r.dcr such policy w poGcies sa~d MORiGAI'aEE ~hall hsve iFw opGon to receive and ~pply ths same on account of the indebt~d
nesa secu•ed hareby or to perrni~ said MDRTGAGORS to retaive and use it or any par~ thereoi for o:r~rr purposes, v.~Tho~t th_rco; wai.•i:3 ur ~rnpaia
~ng any equ~ty, lien or right under or by virtue of this mar!gage; and in the evenl sa~d MORTGAGpRS shall fw any reason fail to keep the said premises so ~
~nsurrd, a fail 1o d^tivrr promptly any of sa~d poi:c:es of ir~surance to said MORTGAGtE, or fai! promptly to pay lully sny premivm the~efq q in an~ 1
rrspect fail to perform, d~sd~arqe, exec~re, effect, compiet~, cc~nply wi~h and abide by this coveoeN, p any part htreof, said MORTGAGEE may piace a~~d •
naq fw s~th insur..nce or any part the.cof witho:wt waiving o~ aFfetting any option, lien, equity, or right urn~e~ a by virtue oF this Mwtgage, and tht
~;,!I amount of each ar,d e~e~~ :vch paymam sh3:t be ~mmcdiilely i1~C and payaWe and shalt bear ~roeresf from ths date thereof until pa~d at the rate of
e per ce~~;um pe~ annvm a~~d to~eti~er ni!h s~ch inre•_~~ shaii be secured by the I;en of this mO~tgage. ?
4. To permit, commit w suifer no waste, impain:knt ~,r det~r~oration of said properly or any part thereof.
'
5. To pay ail aod s~~guiar the custs, charges and expenses, indud~ng a reasenable atromey'~ fee aod cos~s of abstrads of title, i~curred or paid at
an~ ~i~r,e by sa~d MOR(GAGEE, because or in ~he rvent of thc fa:iure cn tt~r par~ of ~he saiil MORTGAGOR to duly, promptty and (uily perform, dncharge,
^<rc~te, eFi~~~, ~emplete, co~nply wrth and ab.de by each and every ~he stipufai:ons, agreements, conditions, and covenants of sa+d pramissory note and thi~
o•tga~e any or either, ar.d sa.d cosrs, char~es and expenses, each and every, shall be immed~ately due and payable; whe~her or not there tx notice de
rr,and, attempt to toilec~ or suit pend.r,g; and tt~e full am~unt o1 eath and every svch paymero shall bear interest from the da/e thereof u~til paid al tht
o~ n~ne per cem.,:n µor onnu:n; an~ ali sa~d toxts, cha~~es and ~xN~•r.sea i~uurred or paiJ, toyethat wAh tuth interest, shall be setured by the lien of thq
; o,t9a9~
6. That (a) in the event of any breach of th~i Mo~!gage or defautt on the part of the MORTGAGOR, or (N) in tlx eveM eny o~ said svms of mo~e~
herein reterre<3 ro be not prcr::ptfy and fully pa~d w~~hin th.rty (30) days n~xt a1~er the same xve~atly become due and payabb, without demand or notice,
cr ;c} in thr event exh a~d eve~y ~he stiau;a!~ons, agreements. cor.d~t~ons and covenants of sa,d promiuory note and th~s mortgage any or either ere nd
1~~'y, prpmptly and I~lly pertormed, d~scharg•_~~, e~ec~ted, eifec+ed co~np:eted, compi~ed with and ab~ded 5y, then. in either w any such eveM the said sg
,-~gatz s~m ment~one~! in sa~d prom~ssory ncte then remaining unpaid, with interes~ accrued, and all moneys setured hereby, ihall become du~ and pay-
e~ e fo~thwirh, or therc•a.'trr, a~ ~he ep~'on ot s:,~d MORiGAG;E, as fully ancl complete!y as il aIl of the sa~d s~ms of money were onginally stipuiated
r;: be pa~d o~ such d:.y, anyth~ng in sa.ci pr_~n t;o~y ~eie or in this Mortgaye to the contrary notwithstand+ng; and Ihereupon Or therediter ~t the optiOn o~
s„d MORTGAGEE, w~ct.ovt nor.:e e~ de~na~id, w~t at ;avv or in eq~ity, th_~efore or thercatter beg~n, may be prosecWed as if all moneys secured hereby
,d matured pnor to ns i~sti~~noo.
7. That in the event ~hat at the beg nn,ng : f or a! any time pend;r,g any su~t upcn thw Mortgage, w to fqeclose it, or to reform it, or to enforte
.+rment of any c'a;ms heraunder, s~~d %ACiRi~iAG_t shall aF~F~Y ro ihe ~o~rt having ~u~~sd:tt~on thereof for the appoinTmenl of a Receiver, wch Court shall
~•h.vith appoint a re.aiver of se!d moragrg~d ~~+^.;:~-t; all ar:d s;«g~ia., f~•:,~d.ng aJ and s~n~u~ar the ir.come, profiti, issues a~ revenues IrOm whatever
3~~ .a de'.ved, e::th and every of ~,h ch, Le;:~g :•.~:.essiy ~nde~ucnd. is F.e:eby m.or~gagrd as i! speufitally set fonh and deseribed in the granting aod
~:::endum c!avses Fer,•of, a~~d wch Receiver sFa~; F~:e a1: the br~ad and etfec~rve f~~u~ ons and powers in anyw~se emrusted by a Court to a Receiver, and
s_h appo~ntmen~ sh.,i: oe m_~de ty s.~c~ C~vrt as an de+~-~itted equ~ty and a n-at~er of absofwe fght to said MORiGAGEE, snd withouf referenee ro the
_~.,acy cr inadeq~ac~ of i~e vai~e oi rh~ p~cperry m,u~+gage~ o. to ~~.e so :.ncy O~ SOIvEflty of said MORiGAGOR or the defendants, and that wch
•s proirts, income, issuas and reyer.ues shalE be apNiied by such Rece~ver ,;ccord,::y to the lien or equity oi said MORTGAGEE and the practice of such
8. To d~~y, Grc~TE;!!y and fuNy pe~fo~m, d:scharge, erecure, ef!ect. con,plr~r, co-nply with ar.d abide by each end every the stipulalions, agreemenri,
ci:tions and covcnar.rs ~n said promissory note a,~d tn s mortgaye set forfh
9. TT,at m ~he e~cnr :he uwnershlp of th~ ma igaged pren.~ses, or any ~art 1hE-~COI, 6ecomes vested in a person other than the MORTGAGOR, the
R?G:,vEE. ~~s SVC:BS5.::5 s~ u as;~3ns. ~r.ay, w:~hoo' nonce to the ~50RfG:.~K. deai a;ith wch successor or suctessor in interest with reterence to this
•ga~c a~ d th= i,! t:~•~ci~; setv~ed in !he ~ame neanner as wiih hlorrgagor wHF~o~~t in ar,y way vit~ating or discharging the Mortgagors' liability here-
vron tnc d_u~ h.;re:,~ seu~r_d +~o sa:e of the Frc+nises h:ret~ %,or+.gaged and no fo~bearance on the par~ of the MORIGAGEE q its sutcessors
•,;~g~~s and _~,.r~•~s.~~ c4 nc~ ~u-,~ f,,~ rhe pa~n:ens cf the deb~ hr~ei,y securrd given by the MORTGAGEE or its successors or assigns, shal) operate
_ e~se, d.suurge, ~::cd.fy c~a~.~c or a`fccr the cr~3~~~a1 liab~~~r~ of rhe T10RiGAGOR nerein, either in whole o~ in pari.
10. It is sc~-c'fIc ;.g.red thar t~~~~e is of the essence of fi~is contrec~ and ~hat no waiver of any obliqation hereunder w of ihe obligation se-
r_ :red hareby shaL at ant tu-~e therea:ter ae i:: d to b~_ a w~~ver of thr !erms hereof or of the instrumero secured herby.
11. In o r,c f::~°go r, -.~,~•n'; ::ave~~.,•s p~~ cpat a~•d ir.er:est .equ~red 6y the promissory note secured hereby, mortgagor eovenants
.,~•e~~s to pay n~ ~~,u-~3,:~.,e v.:~h rF: ~•F: ~r;t a, add •lo~,al s~~~ e:~,^,erer! by mortgagee to be equal to 1,/1
2 of ?he annual cost of the fotlonr-
A-Alf rca~ ~,rc}.r~:~ ta,an ie~~•~~~.'. or d55?Si_ti ;~g=.~~ist t~ne auove drscribed real esfate.
F. Pr.,~ ,.,:,,s o~ (:r~r a~;d .v;r.dsr ,ns_~~~ ce as he•a~n rec~::red to be car-~e d or, the ;mprovements situate on the above dsscribed premises.
G-Pre~~~,•~*s o, s,_h ,*,or.;3:~~ ~;,a•_•:ry ~c~~.~a- _e as rnorty•igee eha~l frc-r r rr:. to time deem fit to carry on the loan secured hereby.
~L',ortgaqee sh. ?~~c~n to !::ne nc~~fy mc•cy,,9or ~n Y+r~Kng ol the amoum d~e and payable hereunder and such sum shall thereupon be due and
' •~'e on r%,., d~e d~~e~ ef ~h; r.•~rt no-~~h ; pay:renr an•i e~ch wca_~sslve n,o•}th tn~reafter urtil mcrtgagee shall notify mortgagor of a ebange in such
i
,nr. Such sv~~-s s!•a.i E:e 3p~:~rd b. ~~ec~g-_ ro:~:a•d tne payrnenr of reat property taxes, insurartce prem:ums, a+id mwtgage guaranty inw~ance
i ums.
Iti '::ti^~t~5 :.tiERiGF, ~n~ za~d h,Okit;;,;~GR has nereu~ro ser h~s h~nd and seal the day and year fint aforesaid.
~ Signed, Sea;ed ar.d de':vered in the R~esTr~cc ot: flLfO ~kf w~.tii~~
~ - - ~i. Luc~c cotknr~r ~M~?. ' s~.q
~ ~ ROCE° P~~;TRl~b ~ ar . e
i~
- c~friK c~~cun ~ou~'~' .n
# 11~~~~ RECnR"_~ vi Fi~ IED~ ~1~tZS" V~.SL~ i~i.. ~,q
t
` - - - - - - - - ~Se~p
s ~ ~ 2~
~ OF FI~RIDA ~
306~3'7 ~
L uc ie
~ ,ri,•r oF St. _ _ t
~
Before me pe:sonaliy appeared _-__ECjW87CCj C.. Reed e~
~ _i______I~T11S@ V. Reed his wife, to me well known and known to me to be
c,drvid~ais des:+ibed in and v:ho executed the foregoi~g instrument, and acknow;edged before me that they executed the same for the purposes
.•~•~n expressed. And the said_ ~~n15@ ~1. Reed i
~ of fhe aa~d ----.------~~Jar(j C. Reed upon a sepsrate and p?ivate ~
~ i
~-:~anon oy me taken separate and aoart from her said husband, atknowledged to and before me fhat she executed said instrumeM freely and volum
~ ; and w;thout any comr,ufs~on, constraint, apprehens~on, or Eear of or from her said husband.
~ ;~lITNESS my hand ar,d oFfic;al seal th~s day of __0~11 A. D. 19~
5_
~ t
~ Notary Public in f the State of fbrida at Large ~
My Commission expires: ~
Retvrn To: No~ory ^u:~?c, Stafe of Flerida at l^.~
~ i:rst Federal Sa.inys L loan Assoc~at:~n A~~ Cemmissipn Expires Jv~y y?, : ,
~ Of Fo~r Pe:c~. Bond.d by Americon Fi?e d. Caw.: ..,~c
~ fort Pic~ce, Fio~~da '
~ y~i~..+~.~~•
_ i,~ :
r
~ This Instrument Prepared ByGary F, Ellwood „~';_;,,r~r==~~' Y?
~s First Federal Savings & Loan Association ~t ,
~ , ..T •v ~ ~ ~
of Fort Pierce , Florida O g "
~UOX ~ pp~ f
;a s ~5-- .
Checked By~- = ~.;~•ti!- ,O• c]
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~ . ~~~Illll'.l1~~~t~1~ ~'n
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~y. 4W9 ~R~ I . _ . ' . _ " . .
Y .pHY 4 ' T ~ '~F'
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