HomeMy WebLinkAbout0063 3. To placa and co~tinuously kecp on the bu~:dings now o~ he~aa(ter situa~e on sa~d land end on all equip~nent and personally cove~ed by thi~ ma~g-
~e, wi?h all p~em~um~ ~herron pa~d in full, i~re inwrance ~n ~he uswl standard po!icy iorm, in a wm appro~ed by the MORTGAGEE, and rvind~torm
iniur~nce in the uaual standard po!:cy (o~rn, in a sum approvrd by the MORTGAGEE, in t~ch tompany or tanp+n~ss ss Ih~ MORTGAGEE may
duec~; end all fire and w~ndsrorm insurance pol~c~es on any of sa~d bu~Id~ngi, any interea~ therein or pa?~ thereol, in the s99regate ium aforesi~d a
in axtas~ iFKr~f, iha~i .c~~ta~~ th@ ~:1v.:: sea-:~r•s! :ro'!ga3'e c~3:•y e* e:~h p~i~+ d~~~se as thw Mcutgagee mny ~equ~re. maAinp Ihe loss unde. •a~d polf
cirs, each and every, paYabte to sa~d h1pRiGAGEE as ~ts interest may appear, and each and every wch policy shall be promptly ass gned and delive~ed ~o
any he~d by said MORtGAGEE ss (ur~her security to said ,~or~gage debt, a~d, not tcss than ten (10) dsys in advance of ~he expi~ation of each polity, to dr
(ive~ fo uid MOR~GAGEE a ~enewal thereof, togNhar'with s rece~pl for Ihe premium of such renewal; and there shall be no f~re or windstorm insur~nt~
pl~ted on a~y of said buildings, any imerest ~here~~ w pa~t ~hereof, untess in ~he form and wi~h tM ~oss payable as ataeaaid; and in Ihe e~ent sny tum
of money Ixcomes payable under such polity or po~~ciea said MORTGAGEE shall have the opt~on to ~ece~ve and apply the same on account of the indebted~
nes~ secured hereby or to permit sa~d IdORTGAGORS to receive snd use it or ao~ par~ dwreof tor otnr~ F:wposes, ~.~~hout th~~co~ wa~~~.~g er onpair•
inp any equ~ty, I~e~ w r~gh~ under or by vir~~e oi ~his mortgage; and i~ the event fa~d MORTGAGORS shall iw any reason fail to keep the s~id~lremitei so '
imured, w fail to detiver promptly any of said policies of insura~ce to ss~d MORTGAGEE, o~ fai! p:ompt~y to pay fu!ly any prem~um therefw w in any
respect fail to pertorm, d~scharge, executr, effect, comptete, compty wirh and abide by ~hii mvenant, w any parl hereof, said MORTGAGEE may place and
pay fa such insvrance or any part thercof without waiving or af(ecting a~y option, lien, equity, o~ right unde~ u by virtve of this Ma~gage, and the
full amount of eacfi and every such payment shall be ~mmediately due and payable and shail bear interest from the date thereof until paid at 1he rale ot
nine per centum per a~num and to~ether with such inte~est shali be secured by the lien of this mortgage.
4. To pcrmit, tommit or sutfer no waste, impairment or deterio~ation of said property w a~y part thereof.
5. To pay al) and i~ngular the costs, charges and expenses, including a reasonabte attwney a fee and cos~s of abstrocts of title, inc~rred or paid a~
any time by sa~d MORTGAG:E, because or i~ the eve~t oi the ta~lure o~ the part of ~he said MORTGAGOR to duly, promptly snd fully perfwm, diuharge, .
execute, eifect, complete, comply w+th and ab;de by each and every the stipu~at+ons, agreements, condiiions, end covenants of said promissory ~ote and thit
mortgege any w eitF~er, and sa:d costs, charges and expenses, each and every, shall be immediately due and payable; whe~he? or not there tx not~ce d~
mand, atrempt to coilect or suit pend~ng; and the full amo~nt of each and every such payment shall bear inserest from the date thereaf until psid a1 the
rate of nine per cenwm per an~ium; arx: all said costs. charges and expenses incurred or paid, together w~th such interest, shall be secured by the lien of thu
mwtgage.
6. 11+at (a) i~ the event of any breach of th~i Mortgage or default on the parf of the MORTGAGOR, o~ (b) in the evenf any of sa:d sums of money
herein referred to be ~ot promptly and fvlly paid within thi~ty (30) days ~ext after the same severally be~oma due and payable, withou~ demand w notice,
or (c) in the evero each and every the stipulations, agreements, cond~tions and covenants of sa,d p~omissory note and th~a mortgage any u either are not
luly, promptly and lutly pe~formed, d~xharged, execu~ed, ef(ected, comp:eted, compt~ed w~th and ab~ded Sy, the~ in ei~her w any such event the sa~d ag
gregate sum mentioned in said promissory note then re~na~ning unpaid, with interest accrued, and all moneys setured hcreby, shall betome due and pay-
ab~e forthwith, ~r thereafter, at th_ oprion oi sa~d MORTGAGEE, as fully and completely as if all of the said sums of mon~y were aginatly stipulated
fo be pa~d on suth day, anything in sa:d prom~ssory note or in this Mortgage to the tontrary notwithstanding; and Ihereupon or thereafter at ti?e option of
said MORiGAGEE, w:iiwut not~ce or demar.d, su~t at law or in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby •
. had matured prior to its institut~on.
7. That in tlx event Ihat at the beginnEng of ar at any time pe~ding any suit upon this Mortgage, ot to fweclose it, or to refwm it, or fo enfo~te
paymeN ot any cla~ms hereunder, said MORTGAGEE shaU apply to the Court having ~w~ad~ct~on fherao} tor the appo~ntment of a Receiver, such Cou?t shall
Fwthwith appoint a receiver of said ma~gaged prooerty all and singular, includ~ng a1? and singular the income, profits, issues and reve~ues from whatever
sw~rce de~ived, each and every of wh~ch, i~ be~ng expressly understood, is hereby mortgaged as it speufically u1 fath and destribed in the granting and
habendum clauses hereof, and such Receiver shatl have a!I the broad and effecrive funcr~ons and powers in anywise entrusted by s Courl to a Receiver, and
such appointment shall be made by such C~_~! as a.^. rd^~it*ed eRuity and a matter of absolute right to said MO~TGAGEE, s~d without reference to the
adequacy w inadequacy of the vatue of the property mwtgaged or to the soivency or ~nsoivency ot sa~d MORTGAGOR a the defendanri, and that such
rents, profits, income, issues and revenues shall be appiied by such Receiver accord~ng to the tien w equity of said MORTGAGEE and the practice of such
Courf.
8_ To duly, promptfy and fully perform, discharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements,
conditions and covenann in sa~d promissory note and th:s mortgage set forth.
9. Thst in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a pe?son other tha~ the MORTGAGOR, the
MORTGAGEE, it~ succes:a~s end ass~gns, may, wirhout noT~ce to the MORTGAOR, deal wrth such succeasw or successor in interest with reference to this
mortgage and the debt hereby secured in the same manner as with Mortgagor without in any way vitiating or discharging the Mortgagors' liability herr
under or vpon the debt he~eby secured. No sale of the prem~ses hereby morlgaged and no forbearance on the pan of ~he /AORiGAGEE or its iuccessws
a assi~ns and no extension of the time for the paymenr of the debt hereby secured Biven by the MORTGAGEE or its successors o~ ass~gns, shall operate
to reteax, d~scharge, modify change d aftect the origi~al liab~lity of the MORiGAGOR he~ein, aither in whok w in part.
10. It is spec~~ically a9reed that time is of the essence of this contract and that no waiver of ~ny obligation hereunder w of the obli9etion se-
cured hereby shall at any time thereaftet be held to tse a waiver of the terms hereot or of the instrumem secured herby. - '
: ! / ~ ~ J : i : .
11. In add~tio~ to the iorego:ng mo~thly payments of princ~pal and inte.est required by the promissory note secu?ed hereby, mortgagor c~nb•-,
and aorces ro pay to mo-tgagee w~th each momhiy payr.,eM an add~rional sum estimated by mortgagee to be equel to 1,~'12 of the annual tast QI~tRe~dlb~if` J'::
ing: ~
i ' ' '
~ A-AI! real p~operty tax.s lev~ed or assessed ag~i•tist thc above described real es?ate. ~
B-Premiums on fire and windsto~m insurar.ce as herein requ~red to be carried on the improvtme~ts situete on the above destribec~pig~nises. ~(i ~
C-Premiums on such mortgage guaranty ir.su~ar,ce az mo+tgagee shail (rom t me to ti~ne deem fit to carry on the loan secured Fwreb~
f Nlortgagee sfia!! trom time to t~me norify mortgagor in v.rit~ng of the amount due and payable hereunder and such sum shall iheroypoq-~~~f q~ 1~~ T
~ payable on the due tiare of the next month'.y payment and each successive manth rhereafter urtil mortgagee shall notify mortgagw of.~ Ehanpe iri ~ufh y;
~ amount_ Such sums sha!! be applied by mortgagee toward the payment of real property taxes, insurance prem.ums, and mortgage gu~~ty, inwrance'r^~
/
premioms. ~ ~ ~ ~ ' ~~t
IN Y~ITNESS 1VHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and yesr first afore id. ,~~,y~~ ~~~~t~~
Signed, Sealed and delivered in the presence of: _ ~NS ~ 11 ~
F : V. ~L JS~ VEY n
S• - ~yTY flA. ~ .
. . ~ t,. ~u^i~qAS ~~j . aZ 1l t' an
r; ~ - . ~'JR7 ~ ~ ~
_ - . r . ~
- At~e : Franklin . Ha i~ . p
~°~'T~ : .
- - ~ ~ 6 ~b ~ - - - - - _ :.s,,
- ~ ~ ~
~;iC~lE~~ _ . '~~-~~~~,~n~; ~:r;
STATE OF FLORIDA COUNTY OF ST. LUCIE . Y;" s' ,
.
I HEREBY CERTIFY, That on this ~h day of November - ~ q•`ia~:?~
before me personally appeared H a Z e l J. Ha r r is and F'=' a n k l i n A.:5
F~
2~~. ~ T~_;=
respectively President and ~ Sscretary ~ ~ . ` , of
NARRIS CONSTRUCTION CORPORATION ~ a Florida Corporation, to me
known•to be the persons described in and who executed the foregoing instrument and severally acknowledged the exe-
cution thereof to be their free act and deed as such officers for the uses and purposes therein mentioned; and that they
affixed thereto the official seal of said corporation, and the said instrument is the act and deed of said corporation.
WITNESS my hand and official seal at Fort Pierce F'lorida , sai n and state.
This instrument prepared by Gary M. Dobbs
First Federal Savings & LoaT1 Association f~!otary Public, ' d for State and County aforesaid.
of Fort Pierce, Florida My Commission Ex~pires:
Natary Publ'K, State of Florida at lsr9a
. t~1y Co:nmissi;.n Eapites Au9• 30, 1980
a c....w co.ww
Checked By L~----
~ ~6U .~a~~ 63