HomeMy WebLinkAbout0554 7. Ta plec• and con~~nuo~ily 4eep oo ~he b~~'d~,:gs now or herea(ier ~ifu~te on ~a~d land ~nd on ~II cq~ip~ncM ~nd p~~~on~lly tovered by this mat¢
wilh •11 pr~mwmf Ihenon p~d ~n 1~11, hre in~~ror.ce ~n the ut~et staideid pCt~ty fO~m, ~n • fum a~~proved by Ih! MORIGAGEE, •ad w~ndttorm
inwnnce in ~ht ufwl ~r~ncla~d pot•cy form, in a~um ?yprored by ~ht MOR1GAGfE, In axh comp~ny or con+p~ni~~ af Ny MORiGAGEE may
dirKh ~nd aH (ir• and wind~torm inWr~~xe poi~c~rf on ~ny of taid b~iid,ngs. ~ny intarttl there~n or parl th~rwf, m ~M ~99req~~e ~um ~faeuid w
In •atetf IAereoi, ~hsQ cont~in the uiua! seender~J mongages d~~~e u tuch o~her claufe •f th~ Mo~ty~ye~ m~y requ~r~, m~Yinp ~hs lo~f unde~ fs~d po~F
ci~f, each •nd evs~y, payab~e ro sa~d A1~RIGAGEE ai ~h ~n~areit may ~ppsar, and each snd every svch poi~cy fhall b~ promptly •~~9^ed and de4vered to
~ny held by satd MORfGAGfE as tu~+he~ ~ccurl?y eo ~a~d ~~ortgada deW, ~nd. not less th~n ~en (10) day~ in ad+ancs ot the eYp~~~~~on ol euh poGcy, to d~-
IivN t0 ta~d MORiGAGEE a ~~~ew~l thereof, toqetFmr w~tA • rete~p~ fw ~hs p~omium o{ •uth renewal; •nd there ~hal1 be no 1,~e o~ windUO~m inwra~t~
p~~c~d on a~y of ss~d bv~~d~.q~, ~ny imere~~ the~e~n w yart ~h~reol, u~les~ in ~M iorm ar~d wdh ~h~ ~ws payab~e as a1w~~~~d; ~nd in the eve~t a~y sum
of money bccanes payabte ~~de~ s~ch pot~cy a poLcro~ fa~d MORTGAGEE shell have ~M opt.on to rece~ve and appfy ~he same on accoun~ of ~he lndebfref-
netis fecu~cd he~eby w ro permit sa~d MORTGAGOQS ~o rece~ve ~nd use it or any ~~.~rt rl~~eo~ ~or oc~,•:r ~.~~~•vsrf, :~~~~~o.,t ~h u~ wu~.~ .:r ~•.~pwr-
infl any p~~ty, lien p ~ight under w by vi~tue ol this mort9s~r; and in 1he event sa•d MORiGAGpRS shall fo~ any reawn (~il lo keep the fsid premitel so
i~fwed, or lail 1o de6vcr promptly any ot sa~d poLCiet o) ~nsur~nce to se~d MORiGAGEE, o~ fad Fromptly lo pay f~lty •ny prr~~uum therelpr p in a~y
ra~pect f~il ~o pNiwm, d~sch~rge, e.ecure, ef(ect, ca.~plr~e, comply wiih and •b~de by th~s covenaro, a~ny po~t hereof, w.d MGRTGAGEE may piace a~~d
pay (w ~uch iryuran<e w any parl ~hercof w~+hout wa:v~r~g a affectinp •ny opnon. lien. aQwfy, w ngh~ undrr a by virtw of ~his Mor~9aq~. ~nd the
full amount o( each a~d e.ery wch p~y~nem shall tx ~m~mdutely due and payable •nd shalt bear intereit f~om Ihu date ~hereo( until p~~d at IM ut~ of
' n~ne pe~ ceMUm pt~ ann~m a~x! Io~Nher with such ~nterett fha~~ ~ s~cwed by ~M hen of tht~ ma~g+ge.
1. To pe~mit, commit w fuHer no vva~te, impairment or dNer~oration o( said property p? any part thereo(.
S. ?o a!! sr.d .iry,;!~c ;o;t;, ;:..rye• .~~u ea~x+~ses. ~rxivo~ng a re~sonab~e anwney's fer end cof~i of ~bs~.acta of tifte, incu~.ed w p+~d st
any time by sa~d MORIGAG'.E, txcause w~n the event of the fa~~wr on the part of ihe sa~d MORTGAGpR ro d~ly, prompNy ~nd fully parFwm, d~scherqe.
executs, e/fect, canple~e, comply w~th and ab:de by esch •~d every she stipu~~nons, agreements, co~d~~ioni. •nd covenants o~ said p+omisw~y note •~d ~hi~
rnw~gaye any or e~ther, and u~J coa!s, ch~rges and eapensef, tath and every, sha:l be immrd~atrty due er+d paysbte; whsihe? a no? ~here be not~ce d~
mw..d, inempt to ca!lrc~ er s;:Et ~:,:.d.ng; ir.d ?tk f.,~t .~~K,u~~~ v~ escn •r.d e~e?y sucn paymrn~ snall ~ea~ mteres~ Irom ~he date thercof untit paid a~ the
~ere af nfne p~r ~~ntum }:rr an,~~n; and ~II se;d cos+s. cherges s~~d cape~ses ~nc~~red or p~id, togethrr w~th wch inte~est, shall be secured by the I~en of th~~
matpy~.
6. Thal (a) in the event of ~ny breach oi this Mo.rc~age or default on the pa.t of the MORTGAGOR, or (b) in the event ~ny of fi~d sums of rtw~ey
he~ein referred ~o be not pruir~pr{y and fvlly psed w~rh~n th:riy (30i de~s neat •trcr tF~e se+ne se+erotiy ueco~ne due and payable, w,ihou~ demand or oot~ce,
o~ (c) in Ihe event eatA and every the stiputahons, agreeme~»s, tond~r~o~~s and covenants of sa d p~on,~ssury nota and th,f rnortgage any pr e~ther are not
i~ty, pron,pNy and fully peifprrned, d•scharged, eaecutsd, e~tec~ed, comp~e~cd, compi~ed w~*h and ab~ded Sy, then in eaher w s~y svch event ~he sa,d ag-
pregat~ sum mentioned in sa~d prom~sswy note th~n ~emaining unpaid, w~rh interest accrued, snd atl moneys secu.ed hereby, she11 becoma due and pay~
abie (orthwith, or thereairer, at the opt~on of sa~d htOR1GaGEE, as futly and comptetNy a~ il aIl of the se~d s~ms ol money were a~g~naily snpu:ncd
to be pa~d on s~ch day, anytfi~ng ~n se d prom:ssory note or i~ th~s Mongage to ?he conrrar~ norH~+hsrsnd~ng; and thereupon w theredter ~t the op~~on ot
sa,d MORTGAGEE, wrthovt r.once or demand, swt et law w i~ equity, tAerefore or NKreaite~ bcy-~un, may be p~osetvted ss if aIl money! secwed hereby
n~d matured pr~or ~o ds ~nsnwnoo.
7. That in the event tlwt at the beginn~ng of or at any time pending any su~t upon fhis Mortgage, or to foreclou it, or to rc(orm it, or to eniorce
FaY~~~ of any daims hereunder, said MORTGAGEE s~all apply to the Cour~ hav~nq ;u~~ad.a.on thereot ior the sppo~ntmcnt of • Receiver, iuch Cour~ shall
forrhwith eppoim a rcce~~~er of safd mo~tgayed property a1: end s~ngular, incl~d~ng a;l and s~n~ui~r th~ intome, p~ol.ts, issues and rever.ves from whatevtr
~ewce de~ived, each ~nd every ol wh:ch, it be,ng e~press~y undera~ood, ~s hereby mor~gaged a~ if spec~f~cally ~et (ath ~nd dew~bed in the pranhng and
habendum cla~aes hereof, and such Rcce~rcr sha11 havc all the b~oad and ei}ecnve funa,wn and powers in anywise em~usted by a Cou.t to a Receiver, and
s.:ch appointment ahall ~ made by such Covrt as an adrm~tcd egulty and a matter of absol~to nghl to satd MORTGAGEE, and wiihout reference fo the
edeqwcy w inadeq~acy of the wiue o( the proprrty mo.fgeged or to the so•ve~cy w~oso:vency of aid MORTGAGOR d tF:e defe~~danfs, a~d fhat such
renrs, profits, income, iaues a~u! revenues shali be app;~ed by such Recewer accordutig to the Gen or equity of said MORTGAGEE and the prau~ce of such
Court.
8. To d~ly, prompNy and lulty perlorm, d~scharg.~, excc~~e, ef(ect, complete, comply w~th a~d abide by eech and every the st~puiations, agr~ements,
cond'Aanf and covenann m u~d prom~sswy note and th,s morrgage set forth.
9_ That in the evenf rhe ownertti;p of the rnortgagcd prem~ses, or any pa~t thereof, becomes vcsted in a pery~n other than the MORTGAGOR, 1hs
h:QRTGAGEf, iti successo.s and ass~gm, may, w~+ho•..t ne~,ce ro rhe MOR1GtiOR, deat w~rh svch successor w successor ~o mterest w~th reference to this
n o+tgage a~d the dNbt hereby scw~ed in the aame rt=e~~nrr as w~th lAortgago~ wrthout in any way vit,ating or d~xharg]ng the /dor~gagon' Iiab~lity herr
under w upon tht de6t hereby secured. No sale of ~~e Fre:r..se~ hrreby rr.or~gaged and no forbea~ance on the pan ot the lAOR1GAGEE w its fuccessor~~
c~ ass~gns end no exte~sion of rhe t~rne tw the payment of t+u debt hereby secv~ed give~ by the MORiGAGEE or its iuccesson or ass:gns, shall operate
io re~ease, d~scharge, mod~}y thanye or affect the or~y,nal itab,I~ty of tM /YAR(GA(',OR here~n, e~ther in who~e a in pa~t_
10. It is speuF;catiy aq~eed ~hat t~me if of the esunce of ~h~s cororact and that no waiver of any obliyat~on hcreunder a of the obligation se-
cured hereby ahai~ a~ any ti+~e ihe~eafter be he!d to.be a waive~ oF the terms hereof a of ~he instrumeM secured he~by.
11. In add.t!o-. ~o ~he fo•ego'ng n•onth'y paym~nts of p.i::c paI end imere~+ requ+red by the prom ssary no'e secured hereb~, mortga~or tovenan?~
e- d egr~es ro pay tc mortgagte v~vth each ~ronth~y ;,ayr..e~t an aJd:~iw~si sum esT-:~:ated by mortgagee to be eq~ai to 1, 12 oi t:~e ann~a[ cost of the fo:low-
A-Ali rea! , roper!y taxes !e:.e~ or ..ss~esc~i aq:~~,st thr abo:e desc:~t~.d r_al ei~atr.
B- Dt•_-cr;~•nS on fire end w~~~ds+o~m ~r,s~~*a~cr as nr~c.c •cq~~:rcd to be ca~nc~ o~ +he !mrrove~nezts s:t~ete or~ the above desvibed prem~ses.
~-Prem.~~r*~s on wch mortq.~ge guar~nty ~fSU~d+C? as m~•tga~ee sha:f .'re:^ r~r.e so t~me deem f~t fo carry on the loa~ secured hereby.
Mongagee sha!1 fro~n h~e to n~,e ~~c~~f~ mu*r_~agnr ~n .v.;r,r.g of the a.ro~~t d~e and payabte hereundrr and such surn sh~lt thereupon be due and
c
-ab•e on t!:~ ••~:t .~r,;:t~;~ Y~y;,;~_,,t a,,d catn wccessive mO~fh tnere~iter uati' mcrtgagee shal! notily mp+tgagor of s thange in wrh
~ ~ t ovnt. Such surns shaa be app:~ed by r~artgzyee ~o+~acd the payment o~ real property taxes, inwrance prem.~ms, a~~d mortgage guaranty insurante
. ~'emi~ms.
f IN YJITNE55 :':HEREOF, the sa~d MORiGAG^.r2 has hereunto ae~ his hand and seaf the day and year first aforesaid.
~ Sig~ed, Seated and delive.cd in ihe prese~ce of: R OR ~S y. Y~(aR,
C fILEO ANO RF~1;:•: ~ `
jT l!!CI l e~~y
~ f COUMTt t-ti ~c az ~ '
~OCER PO~TRAS -"r- ' S..~
CtERK CIRCUJT r n `
~ - RECpR(? VER~F~ED C0 _ ~~r:?~~, j/, y . -
- - - ` ~f,/ gett a aett r ~r .-^tse.~
~ ~ ~ ~ ~ - - - - - - r_-- ----F
~ 43 PH ~ ; r~•" ' ` '
Q M • •
3f Q~9Z : - ~ - - •
~ STATE OF FLORIDA ~COUNTY OF 5T. LUCIE :
~ 1 HEREBY CERTIFY, That on this ~C __day of__ , A. D. 19 77
.
~ before me personally appeared _ Richatd tladsen and Setty Madsen
~ -
~ zs ectivel
~ ' P Y President and - $~retary - , of
~ _Bea~ord &_Madsen_Builders, Inc. _ , a_ Florida
Corporation, to me
~ known to be the persons descri~d in and who executed the foregoing instrument and severaliy acknowledged the exe-
~
~ cution thereof to be their free act and deed as s~ch officers for the uses and purposes therein mentionec~; and that they
~ affixed thereto the official seal of said corporation, a~d the said instrument is ihe act and deed of sa'sd corporation.
~ l^lITPJESS ^1y hand a^d osticcat seal at Fort Picrce , said county and siale.
' ihis instruuent prepared by ~_1 ~
~ J, Hal Roberts, Jr. '
~ First Federal Savings and Loan Norary'Public, in and for~~ tat Cflun!y efo~esa:~.
~ AssociatiAn of Rozt Pierce~ Florida .iM u~'~Wnsiiission Expires: ,y
, i- Now PuSlk, S!n?e ef Fc•:.io o! lor;e
• . .'I ~ ~7 2-.
M ~01111~N{YOli EZOIfN ~ IQ77
' .-L •~'.1~~v% 6onded by Amcn:on F~ro 6 Casw:ty Cp.
~ . ,
Checked By - . t _ =
~ f : , - . •
~ ' - ` ` ~ .
~ p ~j ~ ~ ( --~~.,.t; ;~.i~_ -
~ t'~G, c. 4t1 ~ T~~<-,: