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HomeMy WebLinkAbout0613 . wiacAhuthe~?ddressof Eagle Drive Fort Pierce, (Scrat) (City) Florida 33450 (herein~~PropertyAddras"): (State and Zip Code) . TO(3ETHER with ~ll aad sinjulu the teaemeata. hereditunmu, appurteaanca. easemmts~ ripairan and other rishts and all structura aad iakxovanrnts aow aad haeaRer on the laad tbe the fixtures atached: all rents. isaue and profits accruin~ [rom the premisa; all Qas. S[Ci111~ !~lCLf~C~ WuC~~ ~Iq~lnj~ iIf OOII~IL~Dj~ COO~. rcfriserati~~ ~I~Utjs aUI11t1~11j~ VC11~1~i~lllj~ l~f~Ullj i[!d pOW!'~ S~ISlCfl15~ muhiaa u~d applianoa: all ~uubben?. Plaau, t~ea aad ccops now ~rowin` or thu hereafter may be plantod or ~rown on the premisa: and fuctura and appucta~aaoa tl~at aow are a auy be ia or on the pranisa. evea thoujh tbeY be detached or deuciubk. TO HAVB AND TO HOLD the abovo-~nnted premi:a, with the appurt~. uato the Mo~aja. in fa wnpk forcver. PROVIDED ALWAYS. HOWEVBR, thu if the Mort~a~or stuU pay unto the Monsasea the moneys provided in and by the promissory note secured her+ebY. aad this mort~e, aad aluU wdl and truly kap. observe aad pertorm~ oomply with and abide by euh and every the uipulatioas. ajroema?u. condidoas. aad ooveaants of the mort~sge and the said aote aa and whea required by them, thea this Deed aad the atate crated b~r this mort~a~e sluU aase and be null aad void, otherwise the same shall remain of binding force snd effect. TUe Mortssaor 6aeby cova~anu aad ajras with the Mort~a as follows: 1. MOR7'GAGOR'S OWNFRSHR. That the Mort~or is indefasibly sazed lawfully of the above described pnmises in fa simple. and has sood ri~ht to sdi and coavry them to tbe Mort~a~a; the pranisa are fra snd dischugod of and from all taxa. tu titles or catificata. jud~meats. mechanic's lieus aad eacumbranoes of aay aature or kind whatsoever; the Mort~or fuUy wurants aad will defead the praaises to the Mort~a againsc the tawful c1ala~s aad deaunds of all persoas whomsocrer aod will make such furtl~er assurances to perfect fa simpk titk to the W~d ia tl~e Mortpiae as raaonably may be required: md tl~at the Mortga~or wiU pay the several swns of money agreed in the aote to be paid and all iostallments of priadpal and interat promptly whea due. aooording to the true tenor and effoct ot the aae. 2. L[F1VS AND CHARGL~'S. That the Mort~or wiU pay aU and singular the taxes. assessmeats. levies and er~cumbranca of every nature oa ttie above-described propaty and upon thia mortQa~e aad pote. or the money secwed by them beforc their ddinquency. and promptly ddiver the off'~cial reoapts to the Mortgaga; if they are aot paid promptly wh~ due. the Mortgagee (without obligation to do so) may pay tban without waiviag or affa~ting any rig6t oontaincd ia this mortgage or the note and charge t6e sums so paid to the Mortgagor. and such sums of money sball bar interest fmm the date of payment at the rate of ten peroeatum (10~h) per annum. If the reaipts are not ddivered by the MoRgagor to the Mon~ee by the dste the wca. as~sments or kvia beoome ddinqurnt. the Mortgaga thrn may ordtr a tax search of the public rxords to determine the true status of the wus, sasessments or levies and charge the oost of tt~e search to the sooount of the Mortsagor, and that charge shall be secured by this mortgage. AU such advanoes shall bear interest at the rate of tm percentum (IO~b) per amum. . y 3. FUNDS PAID 6Y MORTGAGEE. That all sums of moaey secured. paid or caused to be paid by the Mortgagee under the terms of this mort~e and herein speciCcially provided for, including any ea~penses incurred by the Mortgagee in colkction of the sums secured by this mortasae, shall be oonrad by the Grn of this mort~age the same as the sums of money represented by the note secured by this mortgage. I f the Mortgagee reaives any sums as escrow deposits for taxes. insurance or other iteros, such sums shall be cominglod and advancod by the Mortgaga for the stated purposes. 4. PAYMEIVT OF PRIIVCIPAL, IMERFSI', EfC. That the MoRgagor promisa, covenants aad agrees to pay promptly when due the sums of money and interest as mentionod in the promissory aote. together with aay and all other sums justly due and owing the Mortgsga by the trnns of tl~is mortgage. and secured to be as aforesaid. If default shall be made in the payment of the sums of money or any part of such sum as provided in the note or this mortgage and the default shall continue for a period of fiftan (15) days, or should the Mortgagor breach or fail to oomply with any other covmant or agrameat on the part of the Mortgagor to be complied with as rcquired in said aote or this mortgage (ia those casa in whic6 the option of the Mortgagee of aaxlention is not otherwise provided euprasly in this mortg~ge) and such breach or aon-oompliana continues in existenoe for a spaa of thirty (30) days. then, and trom thenoeforth, at the option of t6e Mortgagce and arithout notia to the Mortgagor. the whok of the principal sum expresscd in the note, together with all other sums prorided for in tUe note and this mortgage. shall bxome due aad payabk immediately without notice to the Mortgagor. ln addition to the above. the Mortgagor shall pay to the Mortgagee a late charge of four percent (4qi) of any installment not rcceived by the Mortgagee j within fiReen (1S) days after the installment is due. ~ S. INSURANCE. That the Mortgagor wiU kap the buildings tbat now are or hereafter may be erccted oa the tand dacribod insured ~ against all risk by fire sad eatendod coverage in the sum not less than the full iasurable value at the expense of the Mortgagor, in a good and ! rapoasible insuraaa oompany or compania. Ucxosai to do businas in t6e State of Florida and aooeptabk to the Mortgagee. In addition to the above. Mortgagor uknowlodga that Mortgagor is aware that t6e proprrty encumbeeod by this mortgage may be in an arca classifiod az a ? "Special Flood Hazardous Area". If the said property is located ia suc6 an area. Mortgagor agrea. at Mortgagor's expenso. to obtain Flood ~ Insurana coverage from a good and raponsibk insurance company or companies aooeptabk to the Mortgaga ia the amount of the loan ; secured henby or in the maximum amount provided uader the Flood Insurancx Program. whichever is lesst. Mortgagor further covenants and aaras to purchase such Flood Insurancx upon notification from the Mortgagee that the said property is or haz been in the future ~ classified as a"Special F1ood Hazardous Area". T6e insurance shall be for the benefit of the Mortgaga (but the Mortgaga shall not be ~ liabk for the insolveacy or irraponsibility of any such oompania) and the policy or poUcia and all renewals of them shall be dopositcd with ~ and held by the Mortgagce. The policy or poGcia and all renewals, at the option of the Mortgaga. shall contain a"Loss Payable" or '`Standard Mortgaga" clause. making the prooeeds of the poGcia payable to the Mortgaga as Mongaga's interat may appear. Upon any ~ default by the Mortgagor. the Mongaga (but without obligation on Mortgagee's part so to do) may place insurance on any building on the ~ premisa, pay the prcmi~uns and chazge t6e sums so paid to the Mortgagor. The sums of money so paid shaU bear interat from the date of § payment at the rate of ten percentum (10~) per annum. In the event of a lou by fve or other casualty, the Mortgagor will give immediace notice by mail to the Mortgaga. ~ ~ 6. ATl'ORNEY'S FEES AND CObTS. That in case it should become necasary to place this mortgage deed and the note secured by it, ~ or either or them. in the hands of an attorney for rnllection. the Mortgagor covenants and agree.s with the Mortgagee to pay all costs. charga ~ and eacprnses of such collections. including reasonable attomeys' fea and cost of abstract of title. whether collected by foreclosure or ~ otherwise. . - ~ 7. ASSIGNMENI' OF RENTS: APPOIMMENT OF RECEIVER. That. in the evrnt at the btginning of or at any time pending any suit upon this mortgage or to forcelose or reform it or to enforoe payment of any claims under it, the Mortgagee shall apply to the court having jurisdiction for the appointment of a Raxiver, such court forthwith shall appoint a Receiver of the mortgaged property all and ~ singular, including all and singular the income. proCu, issua and revenues from whatever soura derived, each and every one of which. it : being eapressly understood. is mortgagod by this inatrument su if specifically set forth and described in iu graating and habendum clauses. and the Raxiver shall have all the broad and effective functions and powers in anywise entrusted by a court to a Raxiver. The appointmem ~ shall be made by the Court as an admitted equity aad matter of absolute right to the Mortgagee, without reference to the adcquacy or ' inadoquacy of the valoe of the property mort~aged or to the solvency or insolvency of the Mortgagor or the defendant. All rents. protts. ~ inoomes, iuues and revrnua shaU be applied by the Raxiver aocording to the Uen or equity of the Mortgagee and the practice of the court. ' ~ and tde appointment of the Raxiver shall be vvithout aotice to aay obligor unda this mortgage. ~ 8.'I'lll~ OF ESSFI~ISE; FORBEARANCL BY MOICTGAGEE NO WAIVER. That it is agreed spxifically that time is of the essenoe ~ of this contract and that no waiver by the Mortgagee of any performance requirod by this mortgage shaU oe held at any time thereafter to be ~ a Waiver of its terms or of the obli~ation savred by it. ± r • ~ 9. DEA~.iN6 WITH SU~C~SSORS. That in the event the owcKnhip of tlx property or any part of it baomes vatod in a person ` other than the Mortgagor. tbe Mortaaga~ without notioe to tbe Mortgagor. auy deal with the s~Kxeuor or sooasson in interat with ' referwa to this mort~e and the debt secured in the aame maaner as with the Mortgagor aad msy forba~r to sue or may actend time for { payment of the debt secured. without dischugin~ Qr in any way affecting the liability of the Mortgag Runder this mortgage or upon the debt ~ - °soaK~$ ~acf s~.3 ~ r°~~~~ s,l~ ~M '~:~i -3 , _ . _ ~ ~:.w: . ~r°"~ w~ ~ ; u .~a.~=;~.:: . _ _ ~ . ~ . . ~ . ~,s:~iy=-:r.,_...: . .