HomeMy WebLinkAbout1350 3. To ptace and co+~si~uously keep o~ the bui:d~r~gs now a hercaf~er ~~twts on sa~d ~and and on alt eq~ipmeM and pa~onslly covered by Ihi? n+ort¢
~ge, with all p~emiums thereon pa~d in iutl, fue ins~~ance in the usval s~andard p~~icy iorm, in a w~n eHproved by the MORIGAGEE, and wi~d~~am
~nsurance in ~he ususl ~~andard pot~cy ~orm, in a aum approved by the N10RiG~GEE, in ~uch company or companies ai tM MORIGAGEE may
dnecl; and all fire and winds~orm inw~a~te po~kirs on •ny ot ~aid bu~id~ng~, any iNerest therein or psrt thereof, in the aggrcgate ium ~lwssaid o~
in excesi thereof, shall conrain tlie uaval standard matyagee clause or such o~he~ dause ai ~he Mo~~gsgee m~y rcq~~n, ma?ing the loss under sa~d pol~
c~es, each and eve~y, payat,~a to uid A10RTGAGEE ai ~rs ~n~erest may appear, a~~d each and eve~y such po!~cy shall ba promptly a~s gned ar+d del~~ered ~o
any held by s~id A10RTGAGEE as {u~~her secur~ty to said moitgay~ debt, and, nat lea~ than ~en (101 days in edyance oi ~he exp~ra~~on ot each pol~ty, lo da
i~ver to said MORTGAGEE a re+iewal ~hereof, ~ogNher with a receipt for Ih_ p~emi~m oi such renrwal; snd there shall be ~0 6re or windsto~m i~surance
plactd on ~ny of taid build~ngs, any iNerest there~n ot par~ the~cof, unless in the form and with the loss peyable as a{o~esaid; and 7n the e~ent any wm
of money brcomes payab~e under such pelicy « poGcies sa~d AtORTGAGEE shaii have the opt~or, to recaive and appiy ~he same on account o( the indeb~ed- ,
ness setured hereby w to perm~t sa~d MORTGAGORS ro rece~ve and use it a any Nar~ ~h~•r~vl fur o:n~~r pur~.csrs, ~v~~hout ~h:••~ur w~~~'~~~~ ~'~~Pa~~'
~ny a~y eqvity, lien or righ~ unde~ or by virwa of this mo-tgage; and in the evc~t sa~d MORiGAGORS shall !w any rrason fail fo keep the said premi~~s so
msured, or fail to de~iver promptly a~y of said poLues of inwrance to sa~d MORTGAGEE, or fail promptty to pay fulty ~ny premw~n thc~elor w~n any
respect iail to per(wm, d~xharge, executr. r~feu, cor.~pte?a, comply whh and abide by ~h~s coven~nt, o~ any part F?ereof, said MGRTvAGEE may pla:e and .
pay (w such inavrance or a~y part thrreol without waiving ot alfecting any optian, {ien, equity, o~ riyht u~de~ w by virtue of Ihis Mortgage, and the
tutl ainouM oi each and c.ery such pay~ncro sh~ll be ~mmediately due and payabte and shall bear in~erest from the date thereof ur.~il p<id at the rate oi
n~ne per ten~um per annu+e~ ar.d ro~ethrr ~n~ih wch int~•reae shali src~red by the IIe~ of thie matgage.
I. To permit, commi~ w sufter no waste, impairment or detrrioratio~ of sa~d prope+ty or any part therco:.
5. To pay all and singuiar the costs, charges and ex~xnses, including a reasonable at~orney'f ~ee and costs of abstrads o( Ii11e, incurr~d w paid at
any time by said MORiGAGfE, because or ~n the evem of Ihe failure on the prrt of the said MORTGAGOR to duly, promptiy and fu11y per~orm, d~scha•ge,
~xxute, effett, complete, comply w~th and ab:de by eath and every the sfipulaiaons, agreen~ents, cond~tions, •nd covensnts of sa~d promiawry note and Ihi~
.::o~~gage any w e~rher, and said cosn, cherges and expenses, each end every, sheil be immrdiately due and payabte; whether p not the+e be notice d~
m~nd, attcmpt to tottecl or ~uit pend~ng; and rhe full a~nount of each and every avch payment ahal~ bea. interes~ irom the date tlxreof uotii paid at the
r,•~~~ of n~ne per cant~m per .,n~~u:n; and an sa~d cosn, charges and cxpe~u~s frxurred or pa~d, together w~eh such interest, ahall be secured by the lien of th~s
mortgage. -
b. That (a) in the eveM of a~y breach o( th~s Matgage or deiaul~ on tl~e part of the ti10RTGAGOR, or (b) in the event aoy of satd sums of mo~ey
herein refcvred to be not pro~np~ly and lu~ly paid within th:rry (3~) days ~eat a'te~ the same severalty becane due and payabte, without demand or no?ice,
er ?c) in the evem rach and every the st:pu~atio~s, agree=nents, cond:rie~~s and covenants of sa.d promiswry note and th~s mortgage aoy o~ either are not
j~;y, promptly and t~lty per(ormed, d!s:harg_~d, rxecvted, effeUed, tomp:eted, compi~ed ~vith and ab~ded by, then in e~ther w any such event the sa~d ~g
gregate sum ment~oned in said promissory note then remmni~ig unpa~d, with intere;~ accrued, and atl moneys aecured hereby, shatl become due and pay-
ebie forthwith, w thereafeer, at ehe opt~u.~ of s~+d MORTGAGE~, as fulty and comp.rtety as ii aU of 1he said sums o? money were w~g~netly afipulated
to be pa~d on such day, anything in sa.d prom~ssory note or in this Mo~~gag: tu the contrary notwithstanding; a~.d thereupon or thereafter st the opt~on oi
sa:d MORTGAGEE, wnhout not~ce or demand, su+t at law or in equity, therefor~ or thereaiter begvn, may be proseculed as if all moneys secured hereby
n_,d matured pnw 10 ita instit~nion.
7, That in the evrnt that at the 6eg~nn~+~g of or at any time pending any su~t u~~ tius Mortgage, o~ to foretlose it, w fo reform it, o~ to eniorte
. - ' ' . . . ' _ ' _'r-::_ l~. wf a D._e:y~. yvls Crr~rf chall
j'._•'/:lI~IIS VI Ot1Y <iOlttii iK'iCV~iuc:. >oiu ~~.~~:v:'.::~~ -r••: . . .~.~.'~.Y~.......~~ ~ ~
ic nF~.vith appoiM a receiver ot se~d mo~tga3rd pro~~rty all and•ni^gu3ar, irc!vd ny .a:l ~a~d su~gu~ar the ir.come, p~of+ts, issues snd tevenues from whatever
;:•ce denved, each and every of wh'ch, rt be~~~g e~p:ess!y under:tood, is t:ereby n:ortgaged as if speufically set fw~h and deseribed in the graroing a~d
~.~'.andum c~auses hereof, and such Receiver shafi hav~ ak the br~ad and efiecNve furr. :,ns e.~d powers in anywise entrusted by a Cairt to a Receiver, and
i..ch appoin*meiit ahall be mjde by svch Cou~t as an admitted equity and a a:attir of absoivre nght to said MORiGAGEE, a~d without re(erente to the
ec_•;~;,~cy or inadequacy of tF.e val~e of the proprrty mortgaged or to the s?.ve~:cy o. ~r,soivency of said M.ORiGAGOR or the defendants, and that such
~.,~,is, profits, income, issves ar.d re.er.ues shaii be apo6ed by'such Rece~ve~ acwrd,.,g tu the tien or equi~y o( said MORiGAGEE and the praUice of such
Ccurt.
8. To duSv, prompt:y and Fui~y pertorm, d~scharqe, execu~e, effect, comp~ete, ccr~ply wirh and ab~de by each and every the stepulations, agreements,
~ocJiticns and covenants ~n s.~d prn-n~ssory note and ih:s.mxcgaye srt torch.
9. TF.at in tfie ev~.^.t th° ON!ic•sh~p of the mortyaged pren*ises, cr any part fnereof, ~ecomes vested i~ a person other than•the MORT,~-aAGOR, 1M
.~RTGAGEc, ~ts wccrssors and ass~gns, r.:.~•~, w:;i,o4t r.ot~ce tn the :'•ORiGA^~R, deai w~th such successor or successot in interest with refere~ce to this
~ 1a•tgayc and ~h~ dz~bt b~reb~ sec~red in the sa~ne rnsnner as w~th !Ao.tgegor w~tho~t in any way vitlating a dixharging the Mortgagors' liabitity herr
:i~r w upon fhe d~bt hu~eby secured D:o saie of the Hre•:~~srs hereb/ mortgaged and no forbea~ance on the part of the /dORiGAGEE or its successors
or asvgns and no exre~s~on of The nc•. lu~ tne payn:ent of the debt h~~eby secured given by the MORTGAGEE or its successors or assigns, s~ull operate
ro re~ease, d~xharge, modify chang~ or a'fect Ihe crig~nai liab;i:t~ o( the S"GRTGAGOR F.erein, eifher in whole or in part.
10. It is spec+ficaily agreed that t~~ne ~s of the esser,ce of ft,is contract and ~hat no waiver of any obtigat~on hereunder or of the oblgatan se-
c:,red hzreby shatt at any time thareaiter be he:d ro be a waiver of the terms hereof or of the instrurr.ent secured herby.
11. In add.t:o~ to t~~e foreg~ ng :,~onn, y;;a;:~~ ~nts aF pn:,c , ai and inrerest reyu~red by the pram;ssory no'e xcured hereby, mortgagor covenants
,~d agrees to pay to m.or+3.g~,e wrth each r.~c~~>fr; ent an add.~ional wm est:~,atcd by matgagee to be equal to 1; 12 of the annual tost of the follOw-
A-All reat Frop_~~ty tar.as ~ev~a~ o. assesc~,~ ag:=:•ut fhe above desc~:b~d real es~ate.
, g-Pr,~:r.~~~n> on f~re and v;;redue~~n ;nsu•arv_ as he-e~n r~;,.red to b~ ca~•«d on the ~mproveme~ts stuate on the above described premises.
C-Preml~ms on wcFl T0~1 j3ge guara~ry icsura+~ce as mortgag>e sha~l frc:r rme to timz deem fit to carry on the loan secured hereby_
k!ortgagee s~a.t hom tu„e ~o ~~~*e nor:fy mort~d~or :n w~~t:ng ef the a~r.o~of d„e and payable hereunder and such wm shall thereupon be due and
i ,,:ab!e on the due date of :he ~~ext n:cnth:y pa~~r.enr and each successive mo~~rh thereafter ur,til mortgagee shall notify mortgagor of a change in such
~ ;,unt. Such n~rns shsil be app:icd by mwtgag_c 'o.ta•d the payment of reaS property taxes, insurante prem:ums, and mortgage guaranty insurance
c.~::ums.
k IN tJIiNE55 VVHEREOF, me sa~d N.ORiGl.GOR has here~nto set his har.~ and seal the day and yelf~~t~
~ Signed, Seated and deli~ered in the preser.te of: ft! ED =~1' ~ t ~"ri~f
ST.LIIG' "~~~;t f aq
e k~ ; - _ ,.;.a,~S
~ _ - - Cl ~r ' ' ?!T C~)L (Sesq
~ - - (-C' cC _ _ / _ - c c ~ . ' , . = - i' Sean
~ S~~TE OF FLORIDA ~~L~~ ~ Y1~I ~ ~Y L4 M•
St . Luc i e ?
' .-;U'dTY OF - ~
Before me person~fy~ appeared ROIl81C~ 1+1~. Martin
' tionn i e .J . Ma r t i n his wife, to me well known a~d know~ to me to be
th_ individuals described in and who executed the foregoing instrument, and acknowledged befwe me fhat they executed the same fw the pvrposes
ree•ein expressed. And the sa~d Bonnie .J. Martin
.:'e of ihe u7d ~___-____~nal(j W. rtartin upon a separate and priwte
.3m~natlon by me taken separate and aoart from her said husband, acknowledged to and befwe me that she eaecuted said instrument freely end volurt-
~=-:iy and w~thout any computsion, constraint, app s n, or fear of or from her said husband.
~~~~i Sept ember 7 5
VlITNE55 my hand and oFfiua! seal th~s______---____ day of____ , A. D. 19
~ 1iyy~
~ Notary Public in an for t State of Florids at large
~ My Commission e ires: '
Return To:
~ ?irat Federal Savings S Loan Aswciat;on
Of fort r~erce. ~::iif.`~Y ; •.c ~~n;.~...
Fort Pierce.. Flcrid~ ,n~~
. ~...,..uS . _ ..~.b _f,
,~~i::rii~i•,;
.,:~v R t: & • j .
This Instrument Prepared By Richard K. Kayes
F~rst Federal Savings & loan Association _ Q~' -
~ of Fort Pierce ~ F'lorida (J R - ~ ~ .G~
_ Bo~244 PACE1351 2 ~ : oT a . ~ -
Checked By : ,y ~ -
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