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3. To ptece end contlrtuo~sly keep on the buiidinga now o~ hereafter 6ituate on said I~no and on afl equip~neRt and personeily covered by ~his mortg- ~
•ge, wilh ali p~tn.iumt Ihereon paid in f~ll, fua imv~ance in Iha ~suel s~arla~J pol~cy form, In a sum approved hy tha MORiGAGEE, ar.d windstorm ~
lns~~ronce in ~he viual iter,de~d pu~= y fom~, f~ e r~m epFroveJ by tht h10RTGAGEc, in tvch company er. canpsni~s as the AIQRTGAGEE m.~y ,
d~retlt •ad a11 ilro an~ windstonn inwrance politiea on any of ~aid 'ouild~ngs, sny interest tne~ein or peri thtreof, in Ihe aggre9ate sum sforeseid nr i
i~ exceis thereof, tnaU cont~in the us~~al standnrd mo:igagea clause or w~h oiher claaso es the Mortgayee mey ra~uire, meking iha loss undor y+~J pali• . i
tiet, each and every, payable w ta'd A50ftiGAGEE as iM intereet mey appear, end rach .~~~d tvery s~ch poiicy ~hail be promptly assyr.~d and delivared ~o j
any he~d 'oy taiu' MOkTG/1GEE es further seturity to teid mortflaga dsb1, and, not less then tan (10) d~~rs in ad~ence o( tFe explretien of aach poGty, to da- S 4
iiver b ta~-! MORTG.".GEE e renewat thereof, together vcitn a receipt for the premivm of such ranewalt end Ihere •hall be r+a f~re or ~vindstorm t~surarate C
plece~l ai any ef setd bvild:ngi, eoy intereal therein or ~srt thereoi, ~n!es~ I~ the form and with the loe~ payable as aforeseid; and :n the evenl any sum iG
~ j
of money betomes payable ~nder tuth ~lity ot poticies t~id MOP,TGAGEE thall ha+e the optior. to recaivn and appty the iama o~ acceunt of the J:idehted• ~
~ess iecvred hereby or ?o permit •eid MORTGAGORS to recaive and u}e it or ~ny part thereol fer o~hcr ~urposes. v~ithout IF~B~f['i/ warving or ~mpair
I~g eny equity, lien or righ~ ~ndcr or by virtve of Ihis mottgage; end ln the even~ taio MORTGAGORS thaC for any reason fail lo keep the setd prsmises so • ;
tnsurcd, o~ fail lo de~ivcr prompily any of eaid po~ities of i~sura~ce to •aid MOkTGAGEE, or lail prornpt~~ fo pay fuiiY any premium thcrafot or in a~y ~ :
rospect tail to puform, d~scharge, axecute, effecl, completa, comp~y whh and abide by tl~i~ ccvenant, or any part hereof, said MORTGAGfE may place and i
p~y far such insvrance or any part thereof wi~hoct watving or af(atlinfl a~/ option, Ilen, eqv~tp, or ~igM under or bN vtrtue of this ldortgage, and the h,y. }
f~ll ameunt of each artd every such paymenl shal) be :mmediately due and ~ayable and shn~l bear intereft from tha date thereof ~ntil paid al Ihe rate ol
nine p~r cantvm pe; annum end to~ether v+rith such i~terest shall be se:vred by the Gen of this n.ortgage. . _ s`'~- C
4. To permif, commit or suffer no wasla, tmpairr.ient or dete~iorotion of said property or eny part thereof.
5. To pay all and ~Tng~lar the co~tt, charpei and expe~ses, tncluding a reasonable attorney's. feo and cost~ of abst~aue of titlo, inc~rred ot paid a~
any tlma by said MORTGAGEE, beuuse or in ihe event of t}.e fait~re on the pert of ~he :aid MORTG.4GQR fo duly,. promptly and fu!ly porfain, d~scharge,
execute, e(fect, complete, tomply with and ab;de by each and every the stipulatiort~, agreements, conditions, and covenants of said ar~missory nole and thts i
mortgage any pr eithe:, and said costs, cherge~ and oxpenses, each end every, •hall ba immedietely due end payebie; whethar or r.ol there ba wtice da•
mand, atten~pt w co!lect o~ svit pend~ngj and t~ie full amou;:t of each and every such payment ~hall bear lntarest from ihe date thereof until paid at thr
~ate of nine per ce~tv=a ~er annum; and all said co~ts, charges and expenses inc~rred or p~id, tegether with such inte~est, shall ba setured by th~ lien of Ihiti
mortgage. • i
6. That (a) in t`e event of any bresch of this Alorrgege or deiavlt on the part of tha MGKiGAGOR, or ~bj tn tho event any of ~aid wms of money ~
herein referred to ba not promptly ar,d f~tly peid within th;rty (34) deys nexi after the san~e severa!ly Uecome d~e and payeble, wi:hout demand o: notice, ~
or (c) in the event each artd every the ~tipulatiens, agreemeMS, car,ditions and_covena~ts Qi sa~d prornissory nute ~nd th~s mortgage any o~ eithe~ ~re no1 d
- ~uly, promptiy a~d fully pe-formed, d~scharged, exetuted, effetted, completed, compiied with and abided ~iy, then ln e+thet or any such eveM the said ag
grsgate ium mentioned ?n taid promissory note then remaininQ unpeid, with interest accrued, and all moneys se:ured hereby, shall become due and pay- , ~
able farth~vith, ar ~hereafter, at the oprion of said h10RTGAGEE, as fully and <omp!etely as if ali of the said svms of money were or:ginalty s1~pulated ;
to be pa~d on svch day, anything in said promiisory ~ote or in thi~ titortgage to the contrary notwiihstanding; end thsrevpon or thereaftor e~ the op~ion of _ '
inid h10RTGAGEE, witho~~t noticr or demend, suit at law or in equity, there!ore or thereefrer begun, may be prosecuted as if all ~noneys secursd hercby ~
~ had mat~~red prior to its inetitution. • ~
7. That irt tha event ihbt at the beginning of or at any time psrSBing any suit upan this 1Jlortgage, or to foreclo3e !t, or to reform it, or to e~force
payment of any claims hereunder, said A10RTGAG.E shall apply to the Gourt_ having juzisd~ctio~ thereof for the appointment of e Rec~iver, such Court shall ~
forthwith appoint a reteivec of said mortgaged prapert~ al) and singular, (nct~d~n9 all and singuiar the income, profits, issues and rev.nues from whatever
source darived, each and every of ~vhich, it being expressty understood, is hereby mortpaged as if tpeciiicalty stt forth and destribed in the granting and '
habendum cla~~es hereof, and such Reteiver shall have ell the broad and effective funct~ons and powera in anyw~se entruited~by a Covrt to a Reteiver, and -
such appointment shall be made by such Cou~t as an admitted eqvity and a matier of absolute right ro~aid MORTGAGEE, and ~iithout feferente to the
edeqvacy or inadeq~nty of ~he value oI the property mortgaged or to the toivency or ~r,seh•ency of seid MORiGAGOR or the defendants, and tha~ svch .
renn, profitt, irtt+ma, issues a~d revenues shafl be app{ied by such Reteiver atcording to the Uen ar equiry of ~aid MORTCaAGEE and the practice of such _ '
. CouA. -
8. To duly, promptlY and_ivlly perform, discharge, execvte, effect, comptete, tomply~ wilh and abide by each anei every the siipulations, agreements, :
tend~t;ens and covenants in :aid promitsory ~ote and Ih~s moctpaga sat forth. _ • !
_ 9. lhat In the even! the ownershtp ar tne morsgaged premises, Or any par? thereoi, oecomes ve~ied in a prnon olh~r Snan tne 1ri~RivA^vOR, the - 3
N.ORTvAGEE, its successors ar.d assigr.s, may, withrv. ~uti;e ta tha ttORT.Gf•OR, dez! w]~h svch successor er successo: ;n interest with ref.ertnte to tliis
mortgagc aRd t}:e debl hereby securod in the same manner as ~vith Mortga~or withoui in any ~vay vit;ating or dischargtng the lho:tgagon' liability herr
under or uFon the Je4t hereby iecured. No sste of the premises hereby mortge;~ed and no forbeerence on ttie pan of the ~~ORTGl.GEc or it~ svccessors -
~ or oss~gns and no extensivn of ?ht time for the payment of the debt hereby s-cured given by the 1,AORTGAGEE or its successors or assigna, shal! operate _ _
1o release, dischar~e, mod~(y changa or efEect the original liability cf the h~ORiGAGOR fierein, either in whole or in part. -
10: It is specifically agreed thai time is oi the e:sence of this controct and thai no waiver of any obl~gation hereur.der or of tha obligatiun ae-
- cured hereby :hall at any time thertafter be held to be a waiver of the termc hereof or of the instrument secured herby. ~
11. In a~d~tion to ~he forego:ng monthSy paymants of prinCpal and interest ~equ~red by !he promtszory note secured hereby, mortgagor covenants ~
and agrees to pay to mortgagee with each month!y paymem an add~tionnl sum est;ntiated by mortgagee to be equal to 1/12 0! the annual cost of the follow• ~
_ing: _ _ ~ . . , .
.1-All real property taxes levied or assessed agai~st the above described real estate. _
! - B-Premiums on fire and wi~dstorm insucar,ce as I~er~in requ;red to ba carried on the impre•reme~~s situate on thz abovo described premises. -
C-Premiums on s~ch mortg~ge guarar.ty ir.iu:ence as mortgagee shall from i~me to time deem fit to carry on the loan secured herebyc
~ 6lortgagee shail fram time to time norify mortgagor in writing of the amount dua and payable hereunder and such sum shall ~hereupon be due and
payable on tfie due date of the ~ext monthly payme~t and ench successive month thereafter until mortgagee shall notify mortgagor of a change i~ such
amcwnt. Such sums ~hal~ be app!ied by mortgagee toward the payment of reei property taxes, i rance pram:ums, ana morfgage gu~ranty insurance
- premiums. - _ .
~ IN 1.'ITNESS YyHERtOf, thr aaid h50RiGAGOQ has hereunto set his hand end sea: the da n ye~ar
fir -~f ~id. ~ -
~ Signed, Sealed and defi~ered in the presence of: _ - / ','fj~~~ _ a
~ ~
- . ~ 4S ~E~:i7.'~DE~ . LMi~~,~~" V'~.-~-~ ~.-a~ !
- fllE~ ~ - , -~1 ~LA. s
~ I~i#~].e~si.:.~ ~`~-~-~-~~^0. L
V i:~~ p ~ P a t r i c k D. M
c D o
n a l d - c~a~) :
J--- . =:~,;Ra~ ~ ~
. EF1C :.~:.•.'31 ~ C4UR ~1 (Seal) ,
witness : i-~u.2~ ~~J p~rc"; ~~=~:;c`'...-~-'-°~'+ Vi inia' I„ MCD~I18?Zd -~~a~ '
State of Ohio ~7 - - j
KraOx - . ~~~.6 `30"~~2'7 .
COUNTY OF ~ - f
Before mr personally apperred , patr1C~C ?a MCDOTYald and ~
Virqinia 1~ McDonald - h~: wife, to me well known and k~o•.vn to me to `~e
- the individuals dtscribed in an3 who exetuted the foregoin lnstrumenf, and atknowledged befcre me that ihey execvted 1he same for th@ pvtposes
therein expressed- And the •ai~ • V1YC~~nia 1~ MCDOTIald ~
wife of the ~a:d - P'a~1~.Ck D. McDonald - •~~n7~~tr~;-~r~et Pr~+ate-
~ 'examination by me faken teparate 5nd apart from her said hv~band, eckrsa~;ledged to ar.d before me. that the exetuted said inlTr
p~rr~~t• f~ee~~ •b~d Kolun-
tari~y and w]thou~ any compvtsion, constrain?, apprthp~ssi n, or fear of or from her said husbnnd. t,.- ~ ' -
~ WITNE55 my f~and and official seal this ~ey ef ' ~~a C ~?5~ ~ ~
- - , ~i~D. ~~-.,-r..
L.~i 'ti 'a a
. . ~ ~ 4 • ~ ~ ` _ .
- . _ • • - .d' . ~"Sl~e~ . y~•~' ~ Q
- ~te~or~ To: SHhR~N 1.. F~RGU: fJ'+1 1'1~t~3iy •Py ~`ii,#F_' f'' r 1~'t~'' '
first Federal Saving~ ~ Lnan Association . ' ~ ;~~c~
Of Fort P~crce. . M ~6R1(YUSSiOD ~X ~~~i L~ ~i~ _ '••t•, :1 '
_ _ . Y ~ / ~ <
- • Folt Pierce, Florida - - _ _ -
_ L-}c~
. - . _ - _ . ~ _ ~ri. i. . • . . ~ . .
~ - ~ - - ~ ~ . - ~ - . - - '"1 ~ _ -
- This instrumpnt Pre~ared By wiliiam J, Forbes _ " ;
First Federai .~avings 8~ loan Assotiation - - _
: of Fort Piercei Floz ida 33450 .
Chetke~l Sy - - 6QOK~. J t~ P11GF t~~
~f
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