HomeMy WebLinkAbout0502 3. To ptate end continuo~tly k.ep ot~ the bui'd~^:ys now w M~esfter s~twt~ or ?e~d .snd and on a:. ~•qnp++~rm and ;•ersons!ty covered by ti~h mortg•
ege, with all prem~ums ~hereon p+~d in fvll, 1~re ins~ranc~ in ~ho ususl ite~~derd po!~cy ~o~m, in ~ sum ayp+u.ed b~ ~hr MOR i,AGEE. s~~d w, ~d~~or"~
~nsvrant~ io IM usWl i~+ndud poLCy fOtm, in a'sum ~p~:.ovcd by Iha MORTGAGEE, in sucn tompany or compan~r~ as tt+e titURiGAGEE rnoy
d~~ect; ~ad •II fir~ aod wind?rorm iniuranc~ poiic~es on any oi wid bu~td~~s, sny in~a~e~t 1he~ein ~r par~ ~h~:reGl, ~n tt~e syg~e~e!e svm ~to.e~s~d o?
in excesf Ihereof, sl+all tontain ~M usual s~~ndad mor~gs9N cl+us~ w such otha dsuf~ +s the Moriyayec mey req.,,r~, rnek~ng ~ha iois unJer s.,•d po~r
c~es, ~xh ~nd •very, p~yable ~o said MORTGAGEE at ~ts interest may aEroar, ~nd each a~d a~e~y wch poi~c~ sha? ba pron:Ntty assg~~ed and deli~e~rd ~o
any held by s~Fd MORiGAGEE a~ (ur~he~ ~ecv~ity to sa~d matgay~ debt, and, no~ I~s~ ~han ~en (1~; d,ys in ad~ance ot ~he eapiraeon of esch Fw~~cy. ~o dr
I~Yer to said MORTGAGEE • renewal thereof, ~oge~htr w~th a rece~pl for the premwm oi •uch ~ene~vaf; end ihe~e s!~o~~ br ~o f~~e a~ w~~~a1~orm i~sura~ce
pteced on any ol sa~d bui~dir~gs, ~ny interes~ Ihere~n or parl thereof, unless in tht form and w~th ~he ~o~e payeb;e as a'orria~d; and in the r.ent any sum
of mon~y becomes payable unde? wch poliq or pol~cies u~d MORTGAGEE ahatl have ~he opt.oo ~o rece~Ye ..~~J apy!y the s~ ~,e cn account of ihe indrb~rJ-
ness secured hereby o~ ro pe~mif sald MORiGAGORS lo ~cceive and uie it w any pert ti~e:eoi fa orn~•r ~.~:;o+ri. v.:~t~;,~t th:~.:;r .v~~~~~) c~+~°•
ing any puity, lien w rphl unde? a by virlw of ~hu mo:lya9e; and in the ~vem ~a~d MORTGAGORS sA~~l fa sny roaso~ fa~! to ?~op ~he u~d p~em~us io
inwred, o? fai) to de~iver pranpdy •ny of said po~Kies of insurance to sa~d MORTGAGEE, w iai! pron,pNy to pay f~~ly any ~~rr.nwm ~ne.cfor ar m a~y
respecl bil to perlpm, disth+rge, e:ccute, effed, complete, tomp~y with and ab~ds by Ih~s covenant, w sny put i~,reoi, s3~d R1URT;sAGEE may pi~ce a~ o
pay f~x suth insu~ance o+ any part lhereof wilhout w+ivinq w af(edinp any option, iien, equ~ty, or ngh~ unda~ w by virtue of fh~s Mortg.~ge, and thc .
full amouot o( each aod ev~ry svch payment shall be immediately du~ and payable and sha11 bes? intereat from tFw dete thercof u~~iil pa~d at the rate ol
n~ne per centum per annum and to3ethe~ wiih such inre~est shali be sec~:ed by the lien oi Ihii mort9age.
1. To permit, commit w suffer no wssle, impairmeM w dereriorsrion oi said property w any part theroof.
5. To pay al) and sin~ula the coslt, charges ar+d expenses, intluding a reasonab:z attorney i fee and cests of abstracts of tit;e, incur.cd w pa~d at
eny ~ime by uid MORTGAGfE, becau~~ o~ in ~he event of the fa~lure on ~he p+~t oi the sa~d MORTGAGOR to dufy, p~«nprly a~d f~lly perfwm, d~scherge.
execut~, elfett, complete, comply w~th and ab~de by each and every the ~tipvlanons, agreaments, condn~ons, snd covenants oi urd prom~ssory note ar,d ~h~s
,,,~ngage any or e~~her, and sa~d costs, charge~ and expenses. each and every, shall ba immed~a~ety d.re and payable; wfirrhrr or not rhrre be nonce da .
mand, attcmpt to toliett w wil pending: ~nd /he full amovM of e+cA and every such payment shall bear inferest from ihp date therrof untii pa~d et the
.,~e o~ nine per cen~um per ann~m; arx3 all said coan, charges and ea~xnus incurred w paid, togetha~ w.?h s~ch in~erest, sha~~ be sec~red by ~he Len of th:t '
mortgey~.
6. That (a) in the eveM of ~ny breach of thii Mortgage or default o~ the part of the MORTGAGOR, or (b) in the rvent any of sa:d sums of mo~eY
i~rrein re(e~red to be no? pro~.~ptly and futly paid w~~hin lhuty ~30) days nex~ after ~he same seve~a:Iy become due end payable, wiihout demsnd w not~ce.
o~ (c) in the event each and every the slipulations, sgreements, conditio~s end covenants of sa.d prom~sw~y note and th:s nw~tgage any or e+ther aro not
~uly, promptly and fully perfwmed, d:xharged, executed, effected, tompleted, complied wirh and ab~ded Sy, ~hen ~n e~~he? or any such evenf the sa:d ag
gregate iwn memioned ~n said promisswy note then remaining unpaid, with interest accrved, a~d a:~ moneys secured he~eby, ~hall become due and pa~-
eb e forthwith, u thereafter, st the oprio~ of said MORTGAGEE, ss fully arxi comple~ely aa ii all of thr s.~~d sums of nwney vvere or;g~naily s~~p~:afed
ro be paid on iuch day, anything in sa:d prom~sswy r+ote a in this Mortgage to the conrrary nonr~~hs~and:~~g; and ~hereupon w thrreafter a~ the op~~on of
sa:d MORTGAGEE, w~thout not~ce or demand, tuit at law w in equity, therefore or thereaf~er bagun, may be prosecuted aa if all moneyt secured he~eby
nzd maturtd pnOr to ~ts inslituf~On.
7. Th~t in ti+s event that at thr beginning of w at any time pend~ng any suit upon this Mortgage. a to freclose it, or to reform it, or to enforce
paymeN of any cla~ms hneunder, said MORTGAGEE shall apply to the Court having juri:d.t~~on fhereut iw ~ije aµro~ntment of a Receiver, such Court sha?
fo•thwith ~ppoint a receiver o( uid mortgaged property all snd sirgular, includmg atl and si~gu~~r the income, prolits, issues and revs~ues from whatever
~cu:ce derived, each and every o~ whKh, it being express~y unders~ood, is hereby mor~gaged as if speufical:y xt fath and dex~~bed in the g~ant~ng and
hnbend~m clauses hereof, and such Receiver shall have all the b~oad and efiectiva funct.ons and powe[s in anyw~se emrusted by a Cou~t to a Receiver, and
s.,ch appoiatment shall be mada by such Court as an admitted equisy and a rr,atter of absotute rigM to sai~ MORTGAGEE, and without reference to the .
edeq:.~acy a inadequacy o( the value of the properry mortga9ed or to the so.veocy or insoi~ency ol said MOR~GAGpR w Ihe defendents, and ~hat such
~e~~ts, proiita, income, issues and revenues ahall be appiied by such Receiver accord~ng to the Ilen or eqJlty~'sald MORTGAGEE and ~he practice of wch
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Cou rt. ~ . '
B. To duly, promptty and fully perform, discharge, execute, effed, complete, co~iply w~~h and abide by each and every Iht stipuiations, agreements, +
condrt~ons and covenan~s in u~d promissay note and this mortgsge set forth.
9. That in the event the owne~ship of the mortgaged premises, w any part thereof, becomcs vested in a pe~son ofhar than the MQRTGAGOR, fhe
:•.OR'GAGEE, its suctcssors and ~ss~gns, may, withou~ nott<e to the NORTGAOR, dea! with svch successor or wccesso~ in tin~e+est wirh reference to this
r.ortgage and the debl hereby secured in the same manner as with Mortgagor without in a~y way vitiating or d~uharging the Nbrtgagors' IiabHity herr
under or upon the debt hereby secured. No sale of tt~e p~em;se~ hereby mortgaged and no forbearance on the par~ of the /AORTGAGEE w its successws
c- ass~gns and no e:iens~on of the time fo~ the payment of the debt hereby secured given by the MORTGAGEE or ~is successws w ass:gns, a~~all operate
~o re!ease, d~xharge, modify change or atfett the orig~nal liab~iity of the MORTGAGOR here~n, either in whole or in part.
10_ It is speciiicaliy agreed that time is of the essence of this contrad and that ~o weiver o4 any obl~gat~on hereunder w of the obligation sr
cvred hereby shall at any time tf~eafte~ be held to be a waiver of the terms hereof or of the inserument secured herby.
11. In add~r;o~ to the forego.ng momhly paymems of print'pai and interest rrquired by the prom~sscry nae secwed heraby, mortga~or covenants
~~d agr~s ro pay to mortgagee w+sh each monrhly payi,.ent an add~rionai sum est~n:a~ed b~ mo~tgagee ?o be equal to i, i2 of the anr,ual cost of the follow-
A-All reaV property taxrs lev~e~' or assessed aga~~~t the above desc~~bed reat eatate.
B-Prem~vms o~ fire and w~ndstorm ~nsurance as ixrein requ~red to be carrieci on the :mprovements s~!uate on the above dssc:~bed premises.
C-Premiurr•s on such mongage guaranty insuraoce as mwtgagee shall from f~me ro time deem fit to carry on ihe loan secured hereby.
Mo?Igagee shall irom ~ime to tlme norify morigagor in writ~ng of the amou~t d~e and payable here~nder and such sum shnil thereupu~ be due and
>,ab~e on the d~e date of ~he next month!y payment and each successive month thereaifer uar~l mcrtgagee shall nor~fy mortgagor of a ckange in such
3-v:;nt. Such sums sFali be appl~ed by mortgagee toward the payment of reat property taaas, ~nsura~ce prem:ums, a~~d m.ortgage g~aranty insurance
~ ~--z~riUmt. ~
~ IN WITIvESS WHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and year first afores
~ '9ned. Sealed rnd dc~r. th prese~ce of: `
` ~ EO ~ , a1~
~ X~~? L C. Salter ~~aq
- ~.R~ 01iR1?OS RT x (5eaq
~ C'_'PK L. .SUIT C ~ .
F .r~ f~Ep~ Eunice Salter ~~ai~
~ 5':.~E OF FLORIOA 20 Q•L6 QN'T8
~ ~Oi;NTY OF SC T•n[`tP 3941'79 .
~ Befwe me personally appeared L.C. Salter and
~ _ Eunice Salter his wife, to me well known and known fo me to be
rhe individuals described in and who executed the fwegoing instrument, end acknowledged beiore me that they executed the same fw the purposes
rF+~rein expressed. And the said Eunice Salter
je of tF~e said L. C. Salter , upon a sepa+ate and privete
~.am'nat~on by me taken sepante and apart from her aaid husband, ackrawledged to and before me that she executed said instrument freely and voluo-
raniy and w~thwit any compulsion, constraint, appreh ~s:'on, or fear of or from her said husband.
' WITNE55 my hand and offiuai ual thi~ day of Februa A. D. 19 78
~ ~ k~~ ~ ~ . tiXl~o '
~ Notary Pvblic in and for the State of Fbrids at Large
My Comm~ssion eapires:
Ret~rn To:
= Fir:t Federsl Savings a loan Associat~on ~a~ State of Florida [arqt - •
os ro~? P:~~~e. My Commusion E:p;res p~ 27 1980
~ K'!~- 4: ~r : .
~ Fort P~erce, flwida . 'o,,; .e: -
~ . •{?C~'• r~ 'ili~~~~i~ x
` •
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~ - 7~`~(~i~ -
+
~ This Instrument Prepared By J.ohn W. Collins;ch • ~
_ , 0 ~ 1 ~ _
~ F~rst Federal Savings 8 Loan Associat~on .
of Fort Pierce : N: ~ "
Fort Pierce, Florida 33450 ~ -
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~~.~cked BY - - . . . '
~ - aooK 282 PncE ~9~ ' ~ . s
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