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HomeMy WebLinkAbout1019 •~t which hattbeaddreuot Echo Pines Circle, East, Fort Pierce, (Street) (~tY) Florida 33450 (heran•'PropertyAddresa"); (State and Zip Code) TOGETHER with all and singular the teaarteau. heroditamenu. appurtatattoes, aserrtenu, ripairaa aed other righu and aU structures and improvemenu now and hereafter on the land the the tixtura attached: all rents. isute and profiu aecruLtg from the pranises; all gas. steam. electric. weer. heating, air ooaditionirtg. cooking. tefrlgaating, lighting, phtmbing, veatiluing. irrigating and D~ machine and appliance: all sttrttbbery. plants. trey and crops nor growittg or that begetter may be planted or srown on the premises; and fixtures and appurtenanoa that now are a may be is or oa the premises. even though they be detached a detacbabk. TO HAVE AND TO HOLD the above-granted ptemisa. whb the appurtenanoa. wtto the Mortgagee. in fee sirapk forever. PROVIDED ALWAYS, HOWBVBR, that if the Mortgagor shall pay unto the Mortgagee the money: provided in and by the promiaory note secured hereby. and this matgage. and shall wall and truly keep, observe and perform. oanply with and abide by each and every the stipulations. apeemeaa. oorditioos, and oovenanu of the mortgage and the said note as and when required by them. then this Deed and the estue crated by chi: matptSe:ball erase and be null and void. otherwise the same shall remain of binding torts and effect. The Mortgagor hereby oovertaau and agree with the Mortpgee a: follows: 1. MORTGAGOR'S OWNBR3HIl. Thu the Mortgagor is indefeasibly seizod IawtuUy of the above described preati:a in fes simple, and has good right to sell and convey them to the Mortgage; the pranisa arc free and discharged of and tram all taxes. tax titles or oatifiata, jtdgmmts, mechanic's liem and sacumbranas of any nature a kind whatsoever: the Mortgagor fully warrants and wip defend the prenaisa to the Mortgage against the lawful claiass and demand: of all pascal whomsoever and will make such further asatrattoes to perfect fee simple title to the hod in the Mortgagee as rasonabty may be required: and that the Martpigor wiU pay the several sums of mossy agreed in the note to be paid and all installments of principal and interest promptly whey due. according to the true tenor and effect of the note. 2. LIBNS AND CHARGES. That the Mortgagor will p?y all and singular the taxes. as:essmeau. levies and encumbrances of every . nature on the above~dacribed property and upon this mortgage and note. or the money secured by them before char delinquency. and promptly deliver the official reoeipu to the Mortgagee: if they are not paid promptly when due. the Mortgagee (without obligation to do :o) may pay them without waiving a affectins any right contained is this mortgage or the note and charge the wens so paid to the Mortpigor, and such sums of money :ball bar interest from the date of payment u the rate of ten percentum (IOW) per annum. If the receipts are not ~ delivered by the Mortgagor to the Mortgagee by the dste the taxes. a::essmeau or levier become delinquent, the Mortgagee that may order a tax search of the public records to determine the true status of the taxes. asaessaxnts or levies and charge the cost of the larch to the sooount ! of the Mortgagor, and that charge shall be savred by this mortgage. All such advances shall beat interest u the rste of tea percentum (lOVi) per annum. 3. FUNDS PAm BY MORTGAGEE. That all sums of money secured. paid or caused to be paid by the Mortgagee under the tams of this mortgage and herein spedfieially provided for, induding eery atpeases incurred by the Mortgagee in collection of the sums senusd by this mortgage. shall be covered by the lien of this mortgage the acme as the sums of money represented by the note secured by this mortgage. I f the Mortgagee receives any sums as escrow deposits for taxes, insurance or other items. such sums shall be eoatingkd and advanced by the Mortgagee for the stated purposes. 4. PAYINIFM OF PRINCRAL, U~11F.RffiT, E1'C. Thu the Mortgagor promises, coveaanu and egress to pay promptly when due the sums of money. and interest as mentioned in the promissory note. together with any and all other sums justly due and owing the Mortgages by the terms of this 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 fifteen (IS) days, or should the Mortgagor breach or fats to comply with any other covenant or agresmeat on the part of the Mortgagor to be complied with as required in said not _ or_this_mortgee_(~ those cases- in _w_hich the option. of the Mortgagee of rtooekration is not otherwise provided sxpressly in this j ~ mortgage] and such breach or non-compliance oontinuet in existatoe for a space of thirty (3O) days, then, and rom . o option of the Mortgagee std without notice to the Mortgagor. the whole of the principal sum expressed in the note, together with all other sums provided for in the nee std this mortgage, shall become due and payable immediuely without notice to the Mortgagor. In addition to the above, the Mortgagor shall pay to the Mortgages a late charge of four percent (4Yi) of any installmmett not received by the Mortgagee within 6fteat (1S) days after the insullment is date. j S. INSURANCE. Thu the Mortgasor ~ keep the buildings rho now are or IteraRer maybe erected on the land described insured against all risk by fire and exceeded coverage in the sum not less than the full insurable value u the acpense of the Mortgagor, in a good and l ~ responsible insurance company or companies.lioeased to dobusiness in the State of florida and aeoeptabk to the Mortgagee. la addition to the above, Mortgagor acknowledges thu Mortgagor is aware thu the property atcumbered by this mortgage may be in as era cla3sifiod as a ` "Special Flood Hazardous Ara". [f the said property is located in such an era, Mortgagor agrees. u Mortgagor's arpatse, to obtain Flood ~ Insurance coverage from a good and responsible insurance company or companies aeoeptabk to the Mortgagee in the amount of the loan secured hereby or in the maximum amount provided under the Flood Insurance Program, whichever is least. Mortgagor further eovenanu and agrees to purchase such Flood Insurance upon notification from the Mortgages tho the said property is or has been is the future f classifud as a "Special Flood Hazardous Area". The irtsuranee shall be for the benefit of the Mortgages (but the Mortgagee shah not be liable for the insolvency or irresponsibility of any sudt oanpanies)and the policy or policaea and all renewals of them shall be deposited with and held by the Mortgages. The policy or policies and all renewals. o the option of the Mortgages, shall contain a "Loss Payable" or "Standard Mortgagee" clause, making the prooeals of the policies payable to the Mortgages as Mortgages': interest may appar. Upon any default by the Mortgagor, the Mortgages (but without obligation on Mortgagee's part so to do) may place insurance on any building on the premises. pay the premiums and charge the suave so paid to the Mortgagor. The sums of money so paid shall bear interest from the due of payment u the rate of ten percentum (IO~Ai) per annum. In the event of a loss by fire or other casualty, the Mortgagor will give immediate _ notice by mail to the Mortgsgoe. 6. ATTORNEY'S FEES AND COb'TS. Thu in tax it should become necessary to place this mortgage deed and the note secured by it. or either or them. in the hands of an otorney for collection. the Mortgagor oovenaau and agrees with the Mortgages to pay all oosu, charges ~ and expenses of such collections. including rasonsbk attorneys' fees and cost of abstract of tick. whether collected by foreclosure or otherwise. 7. ASSIGNMENT OF RF.N7'S: APPOIN'i11t~M OF RECEIVER. That, in the event o the beginning of or at any time pending any suit upon this mortgage or to foreclose or reform it or to enforce payment of any claims under it, the Mortgages shall apply to the court ~ having jurisdiction for the appointateat of a Receiver, such court forthwith shall appoint a Receiver of the mortgaged property aA and i singular, including all and singular the income. profiu, issues and reveattes from whoever source derived, each and every one of which, it t being expressly understood. is mortgaged by this instrument as if speafically set forth and described in iu granting and habendum clauses. j and the Recover shall have all the broad and effective functions and powers in anywise tatrusted by a court to a Receiver. The appointment shall be made by the Court a: an admitted equity std matter of absolute right to the Mortgagee, without reference to the adequacy or inadequacy of the value of the property mortgaged or to the solvency of insolvency of the Mortgagor or the defendant. AU rents, profiu. # . ~ incomes, issues and revenues shall be applied by the Receiver aooordmg to the lien or equity of the Mortgages and the practice of the court. and the appointment of the Receiver shall be without notice to any obligor undo this mortgage. 8. TOME OF ES$ENSE; FORBEARANCE >dY MORTGAGEE NO WA1VF~. Thu it is agreed specifically that time is of the essence I of this contract and rho no waiver by the Mortgagee of any performance required by this mortgage shall be heW u any time thereafter to be a Waiver of iu tams or of the obligation segued by it. 9. DEALING Wrl'H SUCCESSOlilB. That in the event the ownership of the property or any part of it becomes vested in a person other than the Mortp~os. the Mortpge. without notice to the Mortgagor. may deal with the suooessor or suooasors in interest with ) reference to this iportpte asd the ~ tecursd in the same manner as with the Mortgagor and may forbar to sue or may extend time for payment of the debt secured. without dischueing or is any way affecting the liability of the Mortgagor under this mortgage or upat the debt t ~ ~ r,rrn~ r A tflt 7 i .