HomeMy WebLinkAbout0930 3. To place and continuoosly keep on thr 6u~'dings nor~ or hereafter situete on sa~d ~and and on a!i rqu;prnent and personally coverrd by Ihis mortg•
egz, wi~h all premiunrs thereon pa;d in (u;l, fir~ insurance in th~ usval stan~ard po?~cy iorm, in a sum appioved by the F.10R~GaGEE, and windstorm .
' insurance in Ihe usual s!andard pol:cy form, in a sum approved by the h10RTGAGEE, in suth tompany or cornpanies aa the A!O:TGAGEE may
d~rect; and all fire and w;nJstorm insurance po'~c~es on any of sald buiid~ngs, any interest thereln or part thereoi, in the a99rega+e sum aforesaid or
!n excess thereof, shall contain ~he usual s~andard mortgagee clause or wch oiher c~ause as Ihe hlorlgagee may require, making tha loss under sa~d poli•
cies, each and every, p~yab!e to said 1.10RTGAGEE as ~ts int~rest may app@ar, and eath and every such po!icy sha!! be prompfiy ass gned and de:ivered to
any he!d by said h10RTGAGEE as fu~ther sacurity to sa1J mortgage d:br, and, not !ess than ten (10) days in advance of the expirat~on of each po~~cy, to de-
liver to said h10RTGAGEE a renewal thereof, tuge~her wl~h a recelpt for the premium of such renewal; and there shal~ be no i~re or windsto~m insvrance
placed on any of said buildings, any in:eresl tfierein or part thereof, urtless in the form'and w;~h 1he ~oss payable as aforesaid; ar.d in the eveM any sum
of money become~ payable under such policy or polic7es said h10RTGAGEE sha~l have ihe option to receive and apply the same on account ot Iha indebrud•
~ese secured he~eby or ~o pemiit said h50RTGAGORS to receive and use it or any pait thereof for o:her purposes, r:~thout th~~<b; ~va~vL~~ or i,npair-
ing any equ~ty, I~en or righl unde~ or by virtva of this mo:!gage; and in the evem said h10RTGAGOR$ shaU for any reason fai) to kcep the said premisrs so
insured, or fail to deliver promplly any of 3~id pol~cies oi insurance lo saia A\OATGAGEE, or faif promplly to pay fully any prem~vrn the:efor or in any
respect fail to per(oem, discharge, exe<ute, e((ett, complete, comply with and ahide by this <ovenaN, n~ any p~rf hereo(, Said ~hGRTGi~GEE may plate and
pay for such insurance or any part thereof without walving or affecting any option, lien, equity, or right under or by virtue oi ih~s hlor~gage, and the
full amount of each and every wch payment shall be immediately due and payable and shall bear iMerest from tha date thereof until paio at the rate of ;
nine per centcm per annum and tc~ether with such interest shaN be secured by the lien of this mortgage.
4. To permit, co:nm:t or su(fer no waste, impairrtient or deterioration of said property or any part thereof.
S: to ~av aN and sinoular the ~costs, charges and expenses, including a reasonable attorney's fee and cos?s of abstrac~s of title, incurred or pa~d at ,
any time by said h10RTGAG:E, becausL or in the event ot ihe faiture on ~ne pan ~~i ihz ao~.. +:.t;n~~^v^.: v~vly, pron,~tly and fully oerform, d~scnarge,
.~....,I~ w~th and ab:de bv each and every the stipulations, agre?ments, conditions, and covenants of said promissory note and thi~
mort a•e an o~ either, and sa:d costs, char es artd ez erxes, each and ever , snaii oe ~m~nru~e~e~ a~...} ~ ..L_~L~^ _ !~e n•~t;cP d:~
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mand, attempt to collect or suit pending; and the full amount of each and every such payment shaU bea~ interesr from the date rhereof until paid a1 the
rate of nine per centum per annum; and all said costs, charges and expenses ~ncurred or paid, to~ether ~v~th such interest, shall be secured by tha lien of thi?
mottga,qe.
6. That (a) in the event of any breach of this Mortgage or default on thz part of the MORTGAGOR, or (b) in the event any of said svms of morsey
herein referred ro be not promptty and futty paid wirhin thirty (30) days next afrer the sarne severa!ly become due and payable, without demand or notite,
or (c) i» the even~ each and every the stip~fations, agreements, cond~tions and tovenants of sa;d promissory note and th~s mortgage any or eilher are not
~uly, promptly and fully performcd, d~scharged, execured, effected, compieted, compl~ed ~vith and ab~ded 5y, then in elther or any such even! the sa~d ag•
gregate sum mentioned in said promissory no!e then remaining unpaid, wi~h interest accrued, and all moneys secured hereby, shall become due and pay
able fortliwith, or thereafter, at thc option of said MORiGAGEE, as fully and completely as if all of the Said sums of money vvere originaily stipulated
to be paid on such day, anything in sa:d promissory note or in this hlortga3e to the contrery notwilhstanding; and thereupon or thereafte~ at the option of
said MORTGAGfF, without notice or demand, svit at law or in equily, therefore or ihereafter begun, may be prosecuted as if al) moneys secured hereby
had matureJ prior to us ina~~tution. ~
7. That in the event that at the beginning of ot at any time pending any s~it upon this hlortgage, or to foreclose it, o~ fo refo~m it, or to enforce `
payment of any claims hereunder, said /,SOR7GAGEE shall apply to the Court having jur~sd:ction thereof for thc appo~ntment of a Receiver, such Court shall
fortF~vith a oint a receiver of said mort a ed ro erh all and sin u.ar, includ,n all and su~ ular tiie income, rolits, issves and revenues from whatever
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source derired, each and every of wh~ch, it being expressty understood, is he+eby mortgaqzd as if spec~ficaHy set forth and described in the granting and
habendu.m dauses hereof, and such Receiver snalt have all the broad ar,d effec~ive iunct,ons and powers in anywite emrusted by a Cour1 to a Receiver, and
such appointmenl shall be made by such Court as an ad~nilted equity and a matte~ of absolute right to said MORTGAGfE, and withouf reference to the 3
adequacy or inadequacy of the value of 1he property mortgaged or to the so~vency or insolvency o( said 1hORiGAGOR or the defendams, and that such s
rents, yrofits, incorne, issues and revenues shall be applied by such Receive~ accorciMg to the lien or equity of said IAORTGAGEE and the prauice of such ~
Court.
8. To duly, promptly and fu11y perform, discharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, ~
cond;tions and covenams in sa~d promissory note and th:s mortgage set forl~ j
9. That in the event the owr.ership of the morTgaged premises, or any part thereof, becomes vested in a person other than the h1CRtGAGOR, the ~
~dORTGAGEE, its successors and ass~gns, may, without notice to tne t.10RTGAOR, deat w~~h such s~~ccessor or s~ccessor ~n i~terest with ~eference to this Y
;;;~.r~,y: eh~ ~.~tit hereby secu~ed in fhP same manner as ~vith t.lortgagor w~thout in any ~vay vit~ating or d~scharging the 711ortgagots' liability herr ~
under or upon the debt hereby secure~. No sale of the p~emises hereby mortgaged ard no to~4earance on tne pari ui i„r %~~vnTG':, ;~E
or assigns and no extenzion of the time for the paymeM o1 the debt h~reby secured given by Ihe IAORIGAGEE or its successors or ass:gns, •~iiallvOP8fd1@ ~
to release, disc~arge, modify change or a({ect the orig~nal liabil~ty of the MORTGAGOR herein, either in whole or in part.
i0. ii is sNet~~~ca~ly a-yre~d that !ime i. cE tha Petr•r.re ~f this contrac~ and that no waiver of any obligat~on hereunder or of the obligation se- ~
a,red hereby shatl at any time thereafter be hefd to be a waiver of the terms hereof or of the instrumenl secu~ed herby. ' r
I 1. In add~tio~ to Ihe forego:~g monthly paymen~s of princ p~t and interesr required by the prom~ssory no!e secured hereby, mortg,~gsr'cbvenants ~ ~
and agr~es to pay to n:orlgagee wirh each mcmhfy paymeN an a~dr.~o~al sum es+ir.:a~ed by mortgagez to be equal to lj l2 of the annual~~t o~th~follow- ~ ;
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A-All real properry taxes levied or assesv_~d agaiost the aoove descri6cd real estate.
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B-S'remiums on fire and ~vindstorm insurar.ce as herein requ;~ed to be carried on the improveme ~ts sitvate on the above dessrk~d premise~
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C-Premiums on such mortgage guaraMy iasurar,ce as mortgagee shall from t:me to time deem fit to carry on the loan secured ~erekiY. r~ U-*• '
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Mortgagee shall from time to t~me notify mortgagor in vrrit~ng of the amount du~ and payable hereundar and such su:n shall tfwreupojf~e du~~d " . ~
payable on the due date of the next month;y paym~nt and each successive month thereafter ur,til mortg3gee sha~t notify morrgagoroffa chan~q~•in•SV^.h. {
amounL Such sums shail be applied by mortgaqee to.vard !he payment of real property taxes, insurance prem;ums, and mottgage guarapfy i~t~gr.ce
premiums. - ~ ~ • i
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IN \YITNESS WHEREOF, the said h10RTGAGOR has hereuntp set his hand and seal the day and or ai ~»5•'. ' '
d i th reience o!: By • r~_ ° - N~'i . -.I:
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- ~ ~__Burton -Smit~.~, Sec_. -Tre~s, t
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, COUNTY OF ORANGE ~
STATE OF FLORIDA ~
I HEREBY CERTIFY, That on this 3rd day of J8i1US T'y bf> l~
. A.D. 19 ,
before me personally appeared Robert L, 4lagner and - F,_Burton Smit}~,J ~
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~espedively President and Secretary -Tret~s»rer • - •~~:,.Qf ~ :
Ba.y-Mill, Inc. , a Floride '~jpor~ttoi5f to m~. •
known to be the person~~,de~srjt~ed in and who executed the foregoing instrument, and severally acknpvyl~aged' the @xe;=
cution thereof to b~~'~h~ir ~ftee act and deed as such officers for the uses and purposes therein menti~qned; ~'and that, tt~ey f
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affixed thereto tAd~offiCial.seal of. saic ~cQ~ rporation, ar.d the said instrument is the act and deed of said corpsiratlon.
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WtTNESS my hantt anc}_~ff~ial s~al : - 4~ang~, ~'lorid~ said county and tate. ' ~
Aotary Pub1i~. S4ete,of R9ida.
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,~ty C~~,r :t'i~n• ku~cis'~R~~. L t r~ ' t' R E C~1~1,a,~c ~ublic, in and for State and County aforesaid.
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