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Home My WebLink About2582 • ~ 4 ~ which has the address of Coguirta Ave., Ft. Pierce, Fla. 33450 (street) ~ (CIty) (herein "Property Addrsss'~: (Sbb end ZIp Code) TOGETHER with all and singulsr the tenemer?ta, hereditament, appurtenances, easement, riparian and other right and all structures and improvement now and hereafter on the land the fixtures attached: all rent, talus and profits accruing from the premises; all gas, steam, electric, water, heating, air conditioning, cooking, rofrigerating, Ughting, plumbing, ventilating, 1Mgating and power systems, machines and appliances; all shrubbery, plsnt, trees end crops now growing or that hereafter may be planted or grown on the premises: and fixtures and appurtenances that now are or may bs In or on the premises, even though they be debched or detachable. TO HAVE AND TO HOU) the above-grented premises, with the appurtenances, unto the Mortgagee. to fee simple forever. ~ PROVIDED ALWAYS, HOWEVER, that ff the Mortgagor shall per unto the Mortgagee the moneys provided In and by the promissory note secured hereby, and this mortgage, and shall well and truly keep, observe and perform, comply with and abide by each and every the stipulations, agreement, conditkuts, and covenants of the mtortgage and the saki note as and when required by them, then this Deed and the estate created by this mortgage shall cease and be null and void, otherwise the same shall remakt of binding force and effect The Mortgagor hereby oovenanb and agrees with the Mortgagee as folk~wa:. ' 1. MORTGAGOR'S OWNERSHIP, That the Mortgagor is indefeasibly seized lawfully of the above described premises in fee simple. and has good right to sell and convey them to the Mortgagee: the premises are free and discharged of and from all taxes, tax titles or i certificates, judgment, mechank:'s liens and encumbrances of any nature or kind whatsoever-, the Mortgagor fully warrants and well defend the premises to the Mortgagee against the lawful claims and demands of all persons whomsoever and will make such further assurances to , ;perfect fee simple title to the land In the Mortgagee as reasonably may be required: and that the Mortgagor will pay the several sums of ' money agreed in the note to be paid and all instilment of principal and interest promptly when due, according to the true tenor and effect ~ of the note. ' 2. LIENS AND CHARGES. That the Mortgagor will pay all and singular the taxes, assessments, levies and encumbrances of every r nature on the above-described property and upon this mortgage and note, or the money secured by them before their delinquency, and j promptly deliver the official receipts to the Mortgagee; ff they are not paid promptly when due, the Mortgagee (without obligation to do so) may pay them without waiving or affecting any right contained in this mortgage or the note and charge the sums so paid to the Mortgagor, and such sums of money shall bear interest from the date of payment at the rate of ten percentum (tll%) per annum. If the receipts are not delivered by the Mortgagor to the Mortgagee by the date the taxes, assessments or levies become delinquent, the Mortgagee then may order a tax search of the public records to determine the true status of the taxes, assessments or levies and charge the cost of the search to the account of the Mortgagor, and that charge shall be secured by his mortgage. All such advances shall bear interest at the rate of ten per- centum (10%) per annum. 3. FUNDS PAID BY MORTGAGEE That all sums of money secured, paid or caused to be paid by the Mortgagee under the terms of this mortgage and herein specifically provided for, including any expenses incurred by the Mortgagee in collection of the sum9 secured by this mortgage, shall be covered by the lien of this mortgage the same as the sums of money represented by the note secured by this mortgage. If the Mortgagee receives any sums as escrow deposits for taxes, insurance or other items, such sums shall be comingled and advanced by the Mortgagee for the stated purposes. 4. PAYMENT OF PRINCIPAL, INTEREST. ETC. Thai the Mortgagor promises, covenants and agrees 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 Mortgagee by the tem?s of this mortgage, and secured to be as aforesaid. If default shall be made in the payment of the sums of money or any pail of such sum as provided in'the note or this mortgage and the default shall continue for a period of fifteen (15) days, or should the Mortga- gor breach or fail to comply with any other covenant or agreement on the part of the Mortgagor to be compiled with as required in said note or this mortgage (in those cases iri which the option of the Mortgagee of acceleration is not otherwise provided expressly in this mort- gage) and such breach or non-compliance continues in existence for a space of thirty (30) days, then, and from thenceforth, at the option of the Mortgagee and without notice to the Mortgagor, the whole of the principal sum expressed in the note, together with all other sums j provided 'or in the note and this mortgage, shall become due and payable immediately without notice to the Mortgagor. In addition to the above, the Mortgagor shall pay to the Mortgagee a late charge of five percent (5%) of any installment not received by the Mortgagee II within fifteen (15) days after the installment is due. ~ 5. INSURANCE That the Mortgagor will keep the buildings that now are or hereaher may be erected on the land described insured against all risk by fire and extended coverage in the sum not less than the full insurable value at the expense of the Mortgagor, in a good and responsible insurance company or companies, licensed to do business in the State of Florida and acceptable to the Mortgagee. In ad- ~ ' , dition to the above, Mortgagor acknowledges that Mortgagor is aware that the property encumbered by this mortgage may be in an area i classified as a "Special Flood Hazardous Area". If the said property is located in such an area. Mortgagor agrees, at Mortgagors expense. to obtain Flood Insurance coverage from a good and responsible insurance company or companies acceptable to the Mortgagee in the amount of the loan secured hereby or in the maximum amount provid8d under the Flood Insurance Program, whichever is least. Mortgagor further covenants and agrees to purchase such Flood Insurance upon notification from the Mortgagee that the said property is or has been ( in the future classified as a "Special Flood Hazardous Area". The insurance shall be for the benefit of the Mortgagee (but the Mortgagee T! shall not be liable for the insolvency or irresponsibility of any such companies) and the policy or policies and all renewals of them shall be Deposited with and held by the Mortgagee. The policy or policies and all renewals, at the option of the Mortgagee, shall contain a "Loss Payable" or "Standard Mortgagee" clause, making the proceeds of the policies payable to the Mortgagee as Mortgagee's interest may ap- pear. Upon any default by the Mortgagor, the-Mortgagee (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 sums so paid to the Mortgagor. The sums of money so paid shall bear interest from the date of payment at the rate of ten percentum (tl)%) per annum. In the event of a loss by fire or other casualty, The Mortgagor will give immediate notice by mail to the Mortgagee. r 6. ATTORNEY'S FEES AND COSTS. That in case it should become necessary to place this mortgage deed and the note secured by ~t, or either of them, in the hands of an attorney for collection, the Mortgagor covenants and agrees with the Mortgagee to pay all costs. charges and expenses of such collections, including reasonable attorneys' fees and cost of abstract of title, whether collected by fore- closure or otherwise. t 7. ASSIGNMENT OF RENTS: APPOINTMENT OF RECEIVER. That, in the event at the beginning of or at any time pending any suit } upon this mortgage or to foreclose or reform i< or to enforce payment of any claims under it, the Mortgagee shall apply to the court having _ a jurisdiction for the appointment of a Receiver, such court forthwith shall appoint a Receiver of the mortgaged property all and singular, in- ctuding all and singular the income, profit, issues and revenues from whatever source derived. each and every one of which, it being ex- pressly understood, is mortgaged by this instrument as if specifically set forth and described in its granting and habendum clauses, and the Receiver shall have all the broad and effective functions and powers in anywise enwsted by a court to a Receiver. The appointment shall be made by the Court as an admitted equity and matter of absolute right to the Mortgagee, without reference to the adequacy or inadequacy of the value of the property mortgaged or to the solvenry or insolvency of the Mortgagor or the defenuant. All rents, profits, incomes. issues and revenues shall be applied by the Receiver according to the lien or equity of the Mortgagee and the practice of the court. and the appointment of the Receiver shall be without notice to any obligor under this mortgage. 8. TIME OF ESSENSE; FORBEARMICE BY MORTGAGEE NO WAIVER. That it is agreed specifically that time is of the essence of this contract and that no waiver by the Mortgagee of any performance required by this mortgagee shall be held at any time thereafter to } ~ be a Waiver of its terms or of the obligation secured by it 9. DEALING WITH SUCCESSORS. That in the event the ownership of the property or any part of it becomes vested in a person other tl?an the Mortgagor, the Mortgagee, without notice to the Mortgagor, may deal with the successor or successors in interest with C~