HomeMy WebLinkAbout0494 To plac~ ~nd continuarsly keep on ~M bui!dinys now ar Mr~aftN u~w~~ or s~id I~r+d and on ~11 equipment and perwna!ly cove~ed by this ma~¢ .
+Q~, with ~II p~tmivmi ~he~eon pa~d in (vli, fire ~rsurants in 1he ~~u~l ir~ndud pol~cy (orm, i~ a sum app~oved by the MOR(GAGEE, and w~ndstam
~~iuranc~ in ~h~ uswl •tand+~d pol;cy iwM, in a ~um approved by the MORTGAGEE, in such compa~y o~ compan~es tM MORTGAGEE may
d~rec~; and atl fire and wieds~orm iniuraiu~ polities on any of isid buildinpt, ~ny iMe~esl iherein w p+tt thereof, in the aggreya~e sum afaes+id a
~n ~xc~as th~reof. ~Mil contain tM usust st~ndud matppN claus~ a s~ch o~t~ clwss ei tM Mat~agse may ~eqwre, making ~he ~os~ unds~ s.+~d pol~
ues, e+ch and evNy, payabk to uid MORTGAGEE ai ih in~ere~t may +ppear. ~nd e~ch ~nd evsry iuch pol~cy ~hail bs promp~ly au.yncd and detivered ~o •
•ny held by s~id MORiGAGEE as fur~her secwity to s~id mor~psg~ dcbt, ~?of I~ss 1M~ tsn (10) dsys i~ advance o( the expiratan of each pot~cy, to dr •
Gve? to said MORTGAGEE a renewal Ihereof, fope~he~ with a reteipt fw the pr~mium of ~uch renewal; and thero thall be no fire or w~ndsiorm insurance
plxed p? u~y of said buildirgs, any interest thertin o? put 1Mreof, unl~u i~ tFw (orm ~nd with tM loas payabte ai afwesaid; and in the event +ny sum _
of mon~y becomes payable u~der such policy o~ policies said 1MORTGAGEE ihall hav~ ihs opt~on ro receive a~d apply the same a+ account of ~he indebted-
ness ucwed hereby w ro permit said MORTGAGORS lo receive and u~ if or any pa~t ~hereof lor oti~er ~:urposes, v.I~hout ~h_.. u~ wa~w~~~~ or ~~„p.,~.-
ing any equity, liei? or right unde~ w by virtw of N?is mort9ape; ar?d in th~ ~vent s~id MORTGAGORS shatl (o~ ~ny ~eato~ fail to keep ~he uid prem~srs so i
insured, w f~il b deliver p~omptly any of said policies of insursnt~ to taid MORTGAGEE, a fail promptty to pay fully any pre~n~~m theretw ar in any ;
re~pect fail b perfam. dixhsrge, execute, tffect, comptets, compty with and abide by thi~ covenant, a any part hr~eof, said MORTGAGEE may plice a~~d r
pay tw tuch insuranc~ w any part thereof wi~houl waivinp or affectinp any option, litn, equ~ty, w righ~ undc~ w by vir~ue of this Ma~gage, and thc ;
Fu11 amount ot each ~od evKy such payment shall b~ immediately dw aod payable u~d sFull be~~ interest from the date thereof until paid at ths nte of ;
n~ne p!~ CMfum pN a~num ~r~ tO~e1hC~ with ~uch intereat shall be sacured by tM li~n oi this mortgsge.
1. To pKmit, cwnrt+it a suf(e~ no wut~, knpairment a deterior~tion of said property or ~~ryr psrt thereof.
S. To pay all snd sirpulu ths coats, charpes a~d ~xpenies, ~ncluding a?easa+able attaney's fee and costs o( abst~+cts of t~Ne, incurred o~ pa~d a~
any time by said MORTGAGfE, beca~ne w in the event of the f~ilure on th~ pa~t of the s~id MORTGAGOR to duly, promp~ly and fully perlorm, d~xharge.
execute, elfecl, comple~e, compty with and ab;de by each and every the itipulations, ayreements, conditio~s, and covenanti of said promiswry nole and thii
mortgage any or ei~her, and u~d costs, charyes snd expenses, each and evary, s1u11 be immediately due and payable; whe~her w not ~here be no~~ce da
mand, attempt to collect or wit pend~ng; and th~ tull ~movnl of each +nd eveiy svch paymem shall bear interest from the date thereof unril paid at the
r~~e of nine per ceotum per arnwm; and all iaid costs, charges and exptnxs incurred o? paid, togelhet wdh such iMmest, shall be secured by the lien of thi~
mortgsQe.
6. That (a) in the event of any breach of this Morty~y~ w defavll on tM pa?f of the MORTGAGOR, w(b) in the event any of sa~d ~ums of money
herein referred 1o be rat p~anplly and fully paid wi~hin thirty (30) days nex~ after the same severaity become due a~d payable, without demand or notice,
or (c) in the evem each and every 1F+e stipulations, sgreemenb, conditions snd covenants o~ ta:d promissary note and th~s mortgaye arty a either are nol
~uly, promptly and tully periwmed, dacharged, executed, effected, completed, complied with a~d abided Sy, then in either or any such event the said ag-
g;egate wm mentaned in said promiuwy note then ranaininp unpiid. with iroerest ~cvued, and all moneys secured hereby, shall become due and pay
ab:e iwthwith, w thereafta, at the option of said MORTGAGEE, as fully end completely as if all of the said wms of money were or~ginatly ~npulased
ro be paid on iuch day, anything in said promiuory npte w i~ this Mortgage to the contrary norwithstanding; and ?hereupon or fhereafter at ehe option of
:a:o MORTGAGEE, without norice or demand, wit at law or in equity, therefwe w thereafter begun, may be prosetuted as if all moneys setured he?eby
nad matured pnw to ~ts inslitution.
7. That in the event th~t at the beginnirg of w at any time pcnding any wit upon this Matgsge, a to foreclose it, or to reform i~, or to enio~ce
payment of any claims hereu~der, said MpRTGAGEE sMll apply to the Court havirg jurisdK~ion the~eof Ew ~he appo~ntment of a Receiver, such Court shail
forrhwith sppoint s receiver of said mwtgaged property all and sinpular, includ~rg aIl snd sinqular the income, p~of~ts, issues and revenues from whatever
so~rce derivcd, each and every of which, it beinp expressty understood, is hereby mwtg~ged as it spec:tically set forth and described in the g.aming and
habendum clsuses hereof, ~nd such Receivm shall h~ve sll the broad and effective funct~or?s and powe+s in anyw:se entrusted by a Court to a Receivcr, and
s:;~h appointrrKn~~shall be made by such Caxt u a~ admitted equity and a matrer of absoluts right to uid MORTGAGEE, and w~thouf reference to the
adequacy or inadequacy of the value of the property mortgaged a to ~he so~ve~cy w insolvency ot said MORiGAGOR or the defendants, and ~hat such
re~rs, proFiri, iocome, iuues ~nd revenues shall bt applied by such Receiver accuding to the lien or equity of said MORiGAGEE and the practice of svch
Courf.
8_ To duly, promptly and fully periorm, diuharge, execute, effed, complete, comply w~th and abide by each and every the stipula~ions, agreements, ~
conditions and covenams in said promissory note and this mortgage set fath. ;
a
9. That in the event the ownership of the mottgayed premises, a+ny part ihereof, becomes vested in a person other than the MORTGAG02, the ;
MORTGAGEE, its successors and assigns, may, without notice to ~he MORTGAOR, deal with such successa a svccessor, in imcrest with reference ~o th~s
rrorigage and the debt hereby secured in the same manne~ as with Mo?tgaga without in any way vitiating a d~xha~ging the Abrtgago~s' liability here-
urder or uFon the debt hereby secured. No ssle of the Fremixs hereby mortgayed and no forbearance on 1he part oi the N10RiGAGEE a its successws
o! assigns and no extension of the time fw the payment of the debt hereby securtd given by the MORTGAGEE or its successors ot auigns, shall operafe
ro reiease, diuharge, rtadify change o~ af(ett the wginal liability of the NIORTGAGOR herein, either in who~e a in psrt.
10. It is specifically agreed that time is of the essence of this contracf and thst no waiver o~ any obligation htreundtr q of the obligaYan se-
cured hereby shalt at any time thereafter be held fo be a waiver of the terms hereof w of the instrument secured hesby.
11. In add~tios to the iwegoiag monthly payments o~ prinCpal ar~ interest required by the prom~uory no!e secwed hereby, mortgagor covenants -
and agrees to pay to mortgagee with each monthly payment an add~rional sum estimated by mortgagee to be equal to 1/12 of the annual cost of the foliow-
Ino
A-All real property taxrs levied or assessed against the above described real estate.
• B-Premiums on fire and windstwm ins~rance as herein requ~red to be carried on the improveme~ts situate o~ the above described premises.
j C-Premiums on such mortgage guaranty insurar~ce as mo?tgagee shsll from time to time deem fit to carry on the ban secvred hereby.
Matgagee shail from time to time notify mortgagor in writing of the amount due and payable hereunder and such surn shall thereupoi? be due and
~ p,;able on fhe due date of the next momhly payment and each successive month thercafter until mortgagee shatl tify mortgagw of a change in such
I
i aTou~r. $uch sums sF.a3f be applied by mwtgagee toward the payment of real property taxes, insurarxe ,-p~m:u , and mortgage guaranty inaurance
o-emwms_
~ IN WITNESS Y~HEREOf, the said MORTGAGOR has hereunto set his hand and seal the day and,,jre ~ w .
Signed led and de~ivered in the pre~tnce of:
~ ~ n ro r! Sca4
_ Sesp
~
~ al)
` • L orothq A. ogan ~~a~)
SiAiE OF fLORIDA '
couvrr oF °t. I,LCie j u'
Austin L. Bragan
Before me pe~wnally appeared . ~nd
Lbrothy A. Bro~an his wife, to me well known and kepwh'fo'm0~~q~bs _
rhe individuals described in and who executed the fwcgarg instrument, and scknawlcdged before me that they executed the t~ 6or.th~ ~purpos2i~- -
~he•ein expressed. And the said '-~orett~v A. Bro~an _ ' : ,
Bro an
~Ee o1 the ~~d Austin L. ~ v y lepKSte and~pirva=i
e.am:nat~on by me taRen xparate and apan from her said husband, adcnowledged to and befwe me that she executed said ins'~ivaknt freely sadC~olwi c:-
: 7r ~ ~ ~ .
ra~~ly and w~thout sny compuls~on, corutraint, apprehension, or fe r of w irom her said husbapd- . - ~ =
WITNESS my hand snd officisl seal thi: /1~ day of a~. D.• 19
~ ; ~ ~
" ~ ' . , . S:
. ~
~ ~ , . ~
~ ~ ary Public in a P for the State of Fbr' It.~r~s~,
M Comm~ssion ex ires: ~d~ 2~
~ Retum io: HO:~'~ 1'11~~~t, S:~t" Q~ it Vt
~ Fir~t Federal Savings 6 Loan Associatan c~,~ , ~
Of Fo.t P~~.ce. 3V~139 ~Ay Co:nr~.ss~~,n Ex;,i:e; p~c, 1;, 1q80
~ Fort Pierce. Fbrida " ,r i~~ ~ ~ ~r
~
~ This Instrument Prepared By R. E. Poindexter ~~~~~~Q~~~~~. ,
F~rst Federal Savings 8 Loan Association ~tfP~ CI°CU1T COURT
of Fort Pierce~ Florida o:s~c~
Fort Pierce, Florida 33450
APn 25 3 ?7 PM ~77
Checked By S~
~ . ` ~ - ~ ~~~K2fi7 ~ 493 ~