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HomeMy WebLinkAbout2991whichhastheuddrasof _ Copenhaven Road, Fort Pierce, (Street) (Cl'tY) Florida 334 50 (herei~ "Propeny Address"); (State and Zip Code) TOGETHER with all and singulu the tenements. hereditaments. appurtenanca. easements. ripairan and other rights and all structures and improvements now s.Rd hereaRer on the land the the Cuctura attached; all rcnts, issue and profits accruin~ from the premises; all gas. steam. ~lectric, wat¢r, heatin~, air conditionin~, cookin~. refri~erating, lighting. plumbing. ventilating, irrigating and power systems. machines u-d applianoes; W shrubbery. plants, trees and c~ops now ~rowing or thst herea[ter may be planted or grown on the premisa; and fixtura and appurtenanca that now are or may be in or on the premisa. even thou~h they be det,ched o~ detuhabk. TO HAVE AND TO HOLD the above-srantod prcmisea. with the appurtenanas. unto the Mortgaga. in fa simple toreve~. PROVIDED ALWAYS. HOWEVER. that if the Mortgagor shali pay unto the Mortgaga the moneys provided in ar~d by the promissory note secured hereby, and this mortgage. and shsll well and truly Iceep, observe and perform. oomply with and abide by each and every the stipulations, agraments~ conditions. and covenants of the martgage and the said note as and when required by them. thcn this Deed and the estate created by this mortgsge shall cease and be nuU and void. otherwise the same shall remain of bi~ding force and effect. The Mortgagor hereby covenants and agras with the Mortgagee as follows: 1. MORTGAGOR'S OWNERSHIP. That the Mortgagor is indefeasibly seized lawfuUy of the above described premises in fa simple. and has good right to setl and convey thea~ to the Mortgaga; the premius are free and discharged of and from all taxa. tax tittes or certificates, judgments~ mechanic's Grns and encumbrances of aay natun or kind whatsoever; the Mortgagor tully warrants and wiil defend the premises to the Mortgagee against the lawful claims and demaads of sU persos~s whomsoever and will malce such further assurances to perfect fa simpk title to the land in the Mortgaga u reasonably may be required; and that the Mortgagor will pay the several sums of money agreed in the note to be paid and all installme~u of principal and interat promptly when due. according to the true tenor and effect of the note. 2. LlF.lVS AND CHARGES: That the Mortgagor will pay all and singular the taxa. assessmenu, kvies and encumbrances of every nature on the above-described property and upon this mortgage and note. or the money secured by them beforc their delinquency. and promptly deliver the official receipts to the Mortgaga; if they ue not paid promptly when due. the Mortgagee (without obGgation co do so) may pay them without waiving or affectiag any right oontained in this mortgage or the note and charge the sums so paid to the Mortgagor. and such sums of money sball bear interat from the date of payment at the rate of ten percentum (IMPi) per annum. If the receipts are not dcGvered by the Mortgagor to the Mortgaga by We date the taxes. assessments or levies baome deGnquent. the Mortgagee then may order a tax search of the pubGc records to determine the true status of the taxa, assessmrnts or levies and charge the cost of the search to the account of the Mortgagor. and that charge shall be secured by this mongage. All such advances shall bear interat at the rate of te~ percentum (10~i) per annum. 3. FUND6 PAID BY MORTCACEE. That all sums of money secured, paid~caused to be paid by the Mortgagee under the terms of this mortgage and herein spocificiaUy provided for. including any expensa inc~irred by thc Mortgagee in collection of the sums secured by this mortgage. shall be coverod by the lirn of this mortgage the same as the sums of money represent~d by the note securod by this mortgage. If the Nortgagee raxiva any sums as escrow deposits for taxa. insurance or other items. such sums shall be rnminglod and advanced by the Mortgagee for the stated purposa. 4. PAYI4~NT OF PRINCIPAL. lNTEREST, ETC. That the Mortgagor promises, rnvenants and agrees to pay promptly whrn due the sums of :nuney and interest as mentioned in the promissory note. together with any and all other sums justly due and owing the Mortgagee by the terms of this mortgage. and securai to be as aforaaid. If default shall be made in the paymrnt 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 fail to rnmply with any other covenant or agreemmt on the part of the Mortgagor to be compGed with az requir~d in said note or this mortgage (in those cases in which the option of the Mortgagee of acceleration is aot otherwise provided expressly in this mortgage) and such breach or non~ompliance rnntinua in existence for a space of thirty (30) days. then, 'and from thenceforth, at the option of the Mortgagee and without notir_ to the Mortgagor. the whole of the principal sum ezpressed in the note. together with all other sums provided for in the note and this mortgage, shall become due and payable immediately without notice to the Mongagor. In addition to the above. the Mortgagor shall pay to the Mortgagee a late charge of four percent (4qi) of any installme~t not receivod by the Mortgagee within fiftcen (IS) days after the installment is due. S. INSURANCE. That the Mortgagor will kecp the buildings that now aze or hereafter may be erected on the land dacribed insured against all ris~ by fire and estendcd coverage in the sum not less than the full insurable value at the expense of the Mortgagor. in a good and raponsible insuranoe company or rnmpania. Gcensed to do business in the State of Florida and acceptable to tht Mortgagee. In addition to t he above. Mortgagor acknowledga that Mortgagor is aware that ~he property encumbered by this mortgage may be in an area claSsified as a "Special Flood Hazardous Area". If the said property is located in such an area. Mortgagor agrees. at Mortgagor's ~apense, to obtain Flood Insurance rnverage from a good and raponsible insurance company or compania acceptabie to the Mortgagee in the amount ot the loan secured hereby or ia the maximum amount provided under the Flood [nsurance 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 classifiod az a"Special F1ood Hazardous Area". The insurance shall be for the benefit of the Mortgaga (but the Mortgagee shal{ not be liable for the insolvency or irraponsibility of any such companies) and the policy or poGcies and all rcnewals of them shall be deposited with and held by the Mortgagee. The poGcy or policies and all renewals. at the option of the Mor~gagce. shall contain a"Loss Payablc" or '`Standazd Mortgagee" clause. making the procads of the policies payable to the Mortgaga as Mongagce's interat may appear. Upon any default by the Mortgagor. the Mortgaga (but without obligation on Mortgagoe's part so to do) may plaa 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 (SMYi) per annum. In th~ event of a loss by fire or other casualty, the Mortgagor will give immediate notice by mail to the Mortgagee. 6. ATTORNEY'S FEES AND COSTS. That in case it should become necessary to place this mortgage deed and the note secured by it. or either or 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 foreclosure or otherwise. 7. ASSIGNMENT OF ItEN'I'S: APPOINTMEIVT 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 it or to enforcx payment of any claims under it. tht Mortgagce shall apply to the court having jurisdiction for the appointmrnt of a Receiver. such court forthwith shall appoint a Raeiver of the mortgaged property al! and singutar. including all and singular the income. profits, iuua and revenues from whatever source dorivcd. each and every one of which,.it being expressly understood. is mortgaged by this instrument as if spocificaQy set fort6 and dacribed in iu granting and habendum clauses. and the Receiver shall have all the broad and effective functions and powers in anywise rntrusted by a court to a Receiver. The appoentment shall be made by the Court as an admittod oquity and matter of absolute right to the Mortgaga. without reference to the adoquacy or inadcquacy of the value of the property mortgaged or to the wlvency or insolvency of the Mortgagor or the defendant. All rents. profits. incoma. issues and revenua shall be applied by the Raxiver according to the lirn or oquity of the Mortgaga and the practice of the court. and the appointment of the Receiver shall be without notice to any obGgor under this mortgage. 8. TIM~OF ESSENSE; FORBEARANCE BY MORTGAGEE NO WAIVEtt. That it is agreed specifically that time is of the essence of this contract and that no waiver by the Mortgaga of any performance required by this mortgage shall oe held at any time thereafter to be a Waiver of its terms or of the obligation secured by it. ~ 9. DEALING WITH SUCCFSSORS. Tlwt in the event the ownership of the property or any part of it becoma vestod in a perwn otha than the Mortµ~ot. the Mottgaste, without notioe to the Mortgagor, may deal with the suocasor or successors in interat with reference to this mort~e and the debt sawed in the same manner as with the Mortgagor and may forbear to sue or may eatrnd time for paymrnt of the debt;ecured. without dischuging or in any way affecting the IiabiGty of the Mortgagor under this mortgage or upon the debt secured. ~ r~~~ 'rACE~ ~ 60~( ~~-~:.. _ _ . , . . ~ _ _ . ~__ .