HomeMy WebLinkAbout0274 3. To place a~d centinuo.rtiry ~eep on ti,e b~~ .i~r.yi now or herea(ier •~t.ro~e on ~e;d Isnd and on all ryuipmrnt snd penonaUy tovered by ~his ma~¢
p~, w~th all prrmium~ tl~u~eon ~a~d u~ I.,ti, 1+re ~~isursnce ~o ~ne ~wal starxlerd po~icy fo~m, in a wm appru~ad by the MORTGAGEE, •nd windito~m
intur~oce in Ihe vsual ~i+nJard ~.:•.y I..r+i,, in ~ s.,~~ appro,ed by the MORIGAGEE, in such cwnpa~~y or con+P+n~es ~i tM MORIGAGEE m~y
direu; and all fire a~~d w~ntl~torm imu~a~~ce po~~ucs on ar~y of sa~d b~~id.ny~, ~ny in~ere~t tFwrein or p~rt th~reof, in the ~pgroy~~e wm afores+id w
In ~xcess ~lxreo(, shaU coniam ths uwa~ :~o~,da~d ~r.o~t9agre cleuae w wch o~her cla~ia a~ ~he Mor~yegeo may requ~rv, ma?i~q ~he lois unde? N~d polE
ciei, esch and every, payab:e to sa~d ~.10RTCifaGEE as ~merrst nwy ~ppear, •~d each and e+ery iuch poi~cy ~hsll be prompNy +s?Qned ~nd d~G~e«d to ^
~nv hrld by sa~d MORiGAGEE as further s_•curiry w sa~d ~~~o,tyaye debL ecd, not leu ~han ~en (10) diys in adva~ue of ~he expiration of each poticy, fo dr
IivN ro sa~d MORiGAGEE a renev,al thereof, ~ogeihrr wl~h a rece~pt tor tix prom~um o! such renewel; a~d ~hero ihatl be no f~re or wirr.is~orm in~uranc~
pl~ted on any af fa~d b~il~~ngs, any in~erest Ihere~n o~ ~rt rhereoE, unles~ In ihe form ar~d wi~h ~h~ loss payeble at afores~id; and in tht avent sny aum
of money bctomes payabta vnJe~ sach policy or pol~c~ns soiJ h1i~RTGAGEE sfiall have ~he opnon to receive and app~y the ssms on accouM of the indebted _
r.ass sec~rrd hereby or ro perrnit sa~d MORiGAGORS ro rrceive and use it o~ any parl tl;rrzol for o:her Hurposrs, .•~iihou~ Iharcb{:~,nawi~~p o~ unpair•
iny any equ~ty, liert or r~qht unde~ w t~y v~rtue of thit mor'gage; •nd m the event ta;d MJRiGAGORS ahall fw any rea~on fail to keep the sa~d premises w _Q
iniurrd, or iaii to del~ver prumptly any of s~id pol~cies ai ~nsurance ~o sa~d MORIGAGEE, or fell promptly to pay fuily sny premium Ihe~efo~ w in any ..r
respett fail to perform, d~scharge, execure, effect, compterr, co~:~pty with and abWe by th~s cevenant, w any part hereoi, said MORTGAGEE m~y place and
pay fw suth insurance or any part thrreof whhout waiving a affec+ing any orli~, lien, equity, or righ+ unde~ W by virtue oi thi! Morlysfle, and the '
full smcvnt of each a~d e.ery s~ch paym~at ahall bn +m~ncd~etely dve a~d payable and ihaU bear In~erest from the date thereof until paid at the ?~n of
nine per ce~rum per anr.um ,nd wgr~hrr with wch interest shal~ lx securrd by the lien o~ this mortgage.
Io perrnit, cominit w s~ffer ~o ~va~~e, impairment or detrr~orat~on oi taid property or any part thercof.
5. To pay all •nd 37rsgu~ar ?he costs, charges and expenses, ~n:lud~ng a~essonable anwney's fee and costs of abs~racts of tit~e, incurred o~ paid at
any time by sa~d MORTGAGfE, because er in the event of the failure on ihe pan of the said MORiGAGOR to duly, pranptly and fully perFam, d~uharg4
exacuta, eifect, comp~efe, comply w~th and ab:da by each and every the stipulahons, agreements, conditfons, and wvenanti ol said promissory rwte and this
mortgage any w ei~her, and sa:d coars, cha~grs and expenses, c~ch and every, shatl be immediately due and payabte; whether w not ther• be notite de
mand, attempt fo co;lect or suit pend:ng; and the fu!I amount o~ eath and every such payment shali bra. iMerest irom ihe date thereof until paid ~t th!
rate oi nine per crnt~m per ann~.:n; a,,d a~l su~d cosn, charges aRd expensrs irxu~red or paid, together w~th iuch interest, sMll be ~ecured by tM Gen of th~~
mertpa~e. .
6. That (a) in Ihe event of any b~ra:h oF th7s Mortgaga ot default on ths parl of the A50RiGAGOR, or (b) in the event any of taid sums of money
herein roferred ~o be not prompHy and futly pa;d wirhin ~h~fty (30) days nex~ after the same saverally becoa+e d~e a~d payable, withoW demmd a notite,
or (c) in the evem es<h and eve~y ~!~e atipu~at~ons, agreements, conddio~s and tovenanro of sa,d prom~ssory nole and th~s mortps9e any o~ sithe~ •re no1
iuly, promFtly and ivliy perforrr,ed, d~s:harged, ezecuted, eifected, compieted, co~r.pl;ed wi~h end ab~ded 5y, then in e~ther or any such avent th~ said aQ
gregate sum men~ioned in said pro~nissory nore then rema~ning unpa~d, w~th interes~ accrued, and atl moneys set~red hereby, thall become dw end pay-
able forthwith, o~ thereatte:, at the o~t~or. of sa~d MOR7GAGEE, as fu!ly and completety as i( ail of the taid sums of money were aiyinally suputated
to be pa~d on such clay, anything in sa.d prom~ssory nbte a in this Mortgage to the cenrrary norwithntanding; and thereupon or thereaft~r at the opt~on of
seid MORTGAGEE, wuhout not~ce or den.a~~d, suit at law or in equdy, thero}ore w thereafter begvn, may be prosecuted as if all moneys secured hereby
nad matured pr+or 10 ~ts institurion.
7, Thar in the event ~hat at the beginn~ng of or at any time pending any suit upon th~s Morrgage, w to fwetlose it, or to reform it, or to enforc~
payment of any claims hereunder, seid A10RTGAGEE shall apply to the Cou~t hav~ng jur~sd~a~on +hereof iw ~he sppointment of i RKeive~, such Co~rt shall
forthwith appo;nt a receiver of said mortgaged property all and singular, includ~ng a11 and sing~~er the income, p~ofits, issuet and rtvCnuef from whatever
source derived, each and every oi wh~ch, if be~ng exp~essly understood, is nereby mong;ged as if speciiically set fwth and dewibed in 1F?e grantiny and
habendum clau:es hereo!, and s~ch Recsiver shall have afl the broad and effecrive fu~c~:ons and powers in anywise entrusted by ~ Court to a Receiver, and
s~th appointment shaU be made by such Cou~t aa an ad:n;tted equity and a mat+er o( abs~lute right to said MORTGAGEE, ~nd withoul reference to tM
adequaty o? inadequacy of the ~alue of ihe property mortgaged or to the so:vency or ~nsoivency of sa~d MORTGAGOR or the defendanls, and that auch
rents, profits, ircome, issues and revenues shall be applied by such Receiver accwd,n9 ro the lie~ w equ~ty of ssid MORTGAGEE and Ihe ptactite of such
Court.
8. To duty, promptly ar.d ivl•.y perform, discharge, execute, effect, complere, comply w~th artd ab~de by each end every the ttipulations, agreemenri.
conditions and covenan~s ~n sa~d prom~ssory note and this mangaga set farth.
9. Tha~ in the event the ownersh~p of the rr+ert~aged premises, or any part t{xreof, becomes vested in a person other than the MORTGAGOR, ths
MORTGAGEE, ets successws and ass~gns, may, v.i~hout norice to the MORTGAOR, deal w~ih svch successor or successor in interest with reference. to this
rnortgage and the deb~ he+eDy secwed in the same m~nner -as with Mortgagor w~thout in anr way vitiating or d+scharging the Mon9agors' tisbility here-
ur.der w upon ~he debe hereby xcured. No saie of tfie premise~ hereby mort9aged arx! no fwbearance on the pan oi the MORTGAGEE w it~ tuccessas
cr assig~s and no extens~or. of the time iw the payTe~t of the debt hereby secured given by Ihe MORTGAGfE or its successors or auigns, shall optrate
ro ~e~ease, d~scharge, mod~fy cha~ga er afiecT fhe original liab~t~t~ of ihe MORTGAGOR herein, either in whole or in part.
10. 1~ is spec~ficatly aqreed fhat time ~s of th• essence of this contract and lfiat no wsiver of any ob~igarion hereunder w of the obliyaYan se-
cured hereby shaii at any time thereat~ar be he~o to be a waiver of the terms hereof or of tne instrument utured herby.
11. In add;t~o~ to th~ forego"n3 +nonth~y paymems of p~inc ~al and inrerest requ~red by the prom~ssery nore secured hereby, mortgagor tovenants
and agrees to pay to mortgagee a.~rh eacF. mon!hEy pay~aent an add,v+onaf sum est mated by mortgegee to be equal to 1; 12 of the annual cost of the follow-
ing:
A-AIl .eal property taxas ievied or assessca agaiost the a6ove described rea~ estate. ~
B-Pten~.i~~m e~ fPre and •r~indsto+m insuracce as herein requ~red•to be carrSed e~ the improvements situate on the above described premises.
~ C-Precn~ums on such mortg~ge g~aranr~ ins~rar,~e as mo•tgagee shall from. t~me to t~me deem fit to tarry on the loan secured hereby.
I
Mortgbgee shall frcm rime to t~me norify mar~y,~gor ~n •~,.ifing o( the amount due and payab:e hereunder and such sum shall ther~upon be d~e and
~ayable on the dve dafe o~ rhe next mo+~rh:y payment and each wcces:iie monrh thereafter urtil mortgagee shall not;iy mortgagw of a change in such
a~ount. $v.h sums sFali Ex app:ied by mortgagee to.rard the payme~: of rea! property taxes, insurance prem:ums, and mortgage guarenty insurance
,~~emiums_
~ IN YlIiNE55 Y~HEREOF, the said MpRTGAGUR has hereunto set his hand snd seal the day and yeir first afw.esaid.
g Sgned, Sested and delivered in the presence of: ~
' ~~,t• -.~::ORGE~ n
~ Fi~l~~ _ ~ Mt'~ fU~ \ a
~ - ~ ST LU,~st ~_~u_R~S F B Sutto ~an
~ ' kOGt~~ CupT . ~
~ ill ~ t~ ~ seaq
~ - ~ R h A. Sutton n.,n
~ - F~ y ,.~6
STATE OF FLORIOA ~ tA t' 1~ Ai,
\1
couNnr oF. St. Lucie 3:3G11~~~
~ Before me personaliy appeared FlOVC~ $tltt~fl and
~ Ruth A. Sutton
hii wi~e, to me well known and krtown to me to be
the individuals desuibed in and who executed the fwegarg instrument, and scknowlcdged before me tMt they exetuted ihe-aame fOt ths purpose~
lherein expressed. And the caid__ ~ith A. SuttOn ''~s'~~t~t~~"r~
i
~r~1e oi the .a~d ~tnvd E_ Sutton ; o~p~.~.Kpara~~~iqd priwt~
~ exam;nation by me taken separate a~d apart from he~ said husoend, atkrw~wfed9ed to and before me that she execvted s~itl,~7?ttrument ~AAd volun-
~ rarily ~nd w~thout sny compuision, ccnstra~nt, apprehcnsion, ar fear of or from her uid husband. ' 'tA ti:
~ ~ = 76
~ WITNESS my hand and offiual seal this__ ~'r~ dsy of March ~ 'I ~b,~,
_ -
:
hotary Public in •nd fw t al0 p La1~ ~
` My Commission expires: . ~~O
Return To: • ~ ~ .
. ,
~ Fint Federal Sav:ngs 6 loan Aswc+at[on ~
~ ~ ~ ~ ~ `l~~
~ Of Fort P:erce . /
7'
Fort Pizrce, Ficrida ~ !Q-~al- ~10
~
a
~
'sS
~
~ This Instrument Prepared By J. H. Robezts Jr.
First Federal Savings & loan Association
~ of Fort Pierce, Florida 33450
~ Checked ey r~
F-:~ 2~ ~~E
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