HomeMy WebLinkAbout0151n. R. t
BD^K 4~~ i~.GE1.J~
at all times lx•:,ccably and quietly to cuter ulwu, h_tld, occupy auci rnjuv said I:u:d; that said land is free from all euruutbrauces;
that the}' will make such further assurances to perfect the fee sir.;ple title to said land in the .~ssoc•iution as arty reasuu: fitly lx•
rerluired; and That they du hereby fully warrtnt the title to said land and will defend the same against the lavyful c•l:tinu of
all lr:•t~ons \yhuntstx•ver.
PHO\'ll)EI) AL~~'A1'S that if tht• \Surt;;a~urs shall \ycll and truly pay tutht the :ls,u:•iation, the iudebtetlness cyidenctxi
by that certain pnnnissury note, of even date hensy:ith, made by the Mortgagors and payable U, thr Asux•t,ttiun iu the principal
TEN THOUSA.I\'D FIVF, HUNDRI~:D ArdD NOS 100 - lh,llars (S 10,~i00. QO ).
sum of
\yhich note, htgetht-: \yith interes. therctm us therein specified, is pa\;thlc in nxmthly iustallt~tents of
SIXTI' FIVE AND NO/100 ------------------------------------ llollars (S 65.00
nn the 2a[h clay of each montL cununeuciug \yit1, _ --- -- -NOVC111}JCt'_20, 1962 \\hirh pavutenh
are to lx~ applied, first to interest, and the h^_lance to prin:ip:d, wtti! said indebtedness is paid in full, and shall perfornt, comply
\cith and abide by each and every the stipulations, agreements, conditiuus and ctn•en:utts of said prumisson• note and t}tis
mortgage, And, including any advances made by the Association to the Mortgagors, or their succ~•ssnrs in title, fur any purlxxt•,
at any time hefom the release :mtl cancellation of this mortguge•, but at no time shall this mortgage secure advances un :uY~ouut
TEN THOiJSAND I'IVE
__ -
of said uri~inal note tu,~ether \\•ith such additional advance in a sum iu excess u
11UNDRED .AND NO/100 -__------------------"-Dollars ($10, 500, 00 ), plus :utv advances nt•c•ess;u-y
to protect the sc-curity and costs, then this deed :uta the estate hereby en•atc•d shall cease and b,~ null and yuitl.
Atill TIIF \tORTGACORS DO hereby txt\•enant ana agree:
1. 'Ib pay all and singular the priucip:,l and iut~rest and other stuns of numey payable l»- virtue of ,aid prontis;or\• note
and this mortgage, ur either, promptly on the days; r^spectiyely the same scvcrdly come clue.
°. To pay all curl singular the taxes, assessments, levies, liabilities, t:itligutions and incuntbranccs of every nature and loud
now rnt ,aid dcscri}x•d property, or that he•rcafter nwv 1>c imjxtsed, suffered, placed, levied, or :escssed therrun, or that hereafter
may be h•yicd ur assessed upc:n this Mortgage, nr the indebtedness sccurtYl hereby, c:u•h and cyen•, \yhen duc and payable,
.tccording to l:t\v, Ix•fore they heconu~ dclinquertt, :utd before anv interest attaches ur :uty penalty is utcurn•d; and itLSt>far :n
any thertrof is of r curd the same shall be promptly satisfirYl :uul d~schart;cd of rccxtrd ::nd the original u.`ficial dcx~urnent (such
as, for instance, the tax receipt or the satisfaction palx•r offici;tlly endorsed ur certified) ,hall be pl;u•rci i„ t!.r h;:nls of stud
Assctciatirnt as Mortgagee within tun clays next after payment; antl in the• cye•nt that :uty thcn•nf is nut paid, satisfied and discharged,
said Associaiion ntuv at anv time p;n• the same n. any part thereof \yithuut waiving or afhrting .un' option, lien. equity ar right
under or by yirtut• of this Mortgage, and the full amount of each and even' such payment shall be innnctliulcly dn:• and payable
and shall bear interest fnttn the date thereof until paid at th,r rate stated in the nole secured Lcrei,\• :url to~~c•thcr \cith sorb ir,tcr-
, :,t spa!! Ix• secured by t-se lien of this \fnrtgage.
3. 'l~u keep the huildin~~s and all celuipnx~nt and pt•rwn;tl prup~•tty nn.\• ur ht•n;tftrr e,n .aid premise; to\trt•el 6y chi,
n:ort?~age, in;un•d in a sum r<lua! to at least the amount of the nu,rtga«c, or an anunutt sitfficicnt to cumpiy \cith any cu-iusur-
;tncr' rct;uiremt•ut c•oyt•ring the sauu: under the laws of the State of hlnrida_ covering los; fruut bntlt fare and stuns, making thr
loss under s.tid politics, each and t+•ery, payable U, thr• :\ssociation, as nn,rlgagc:• as its interest r}tav appear- and said iusnrutct•
,hall }xe in :t ,Doll and mslxmsihh• inartr:ux•t• company satisfactory to said Assac•i,ttiun, anti \vritten by a responsible Incal agent
,atisf:u•tory to said :lssoci;ttion; and the lwlicv or politics shall bear a standard nutrtgage clause witltuut c•rnttributirnt, and skull bt•
Lt•Id by thr Association, ;u td, in the cvent :un• suet of nxmey }x•conx•s payable under such policy ur lwli,ies, the :lssuti,ttion shall
have the option to receive :uul apply the s;tme art accrnutt of the indcbhtiness ht•rcl:\• scenrcd, ur ht permit the nu,rtra,ors to
trYCiyc :u:d nsr• it, ur :uty part thereof, for utt:er~ purlwscs, without thereby waiyiug ur impuirin~ any etprity, lier:, nr right tuulcr
.uul h\• yirtut• of this tnortgat,e, and may place and p;tv fnr such insurance, rr :un• part lbcrcol, \yithnttt \':aiynr, ar affecting tts
option to furtclnse, or any ri:*ht hcn•undrr, and thr~ fall- anmtntt of t•ac}, and rvc•ry sr:c•h p;t~tucnt sh.tll bt+ irnrnr•diatrll' duc• anti
i>ayablc and shall hr•.tr inter=:;t front the date then•nf until paid ut tlr, rah• stated in tl,e m,te >ecured hcrcbv and h,gethcr vvitL
snc•h inh•rest shall h<• s<rured by the lien of this Mortga:,c.
-I. 'fa pc•nnit, canonic, or suffer nu \yastc, impainnertt or cieicru~r,triun of said property, ur any 1:.:rt tLtrcuf. and np~nt
the failuro of tltr• nturtt;agnrs to l:ct•p [Le buildings un said propcrh~ in good tonditin:t of repair, the :~ssrx•i-torn: n~;n• dcnt:uul the
inmu•diatc n•pair of said buildings or the inunediato n•I;;tvnu•nt of the rlcbt Lerchy stron~d, :uul thr• 6tiiurc of the nnrctgugurs
to comply \yith said demand of the :\ssociation fur a period of "1 hirh' (~it)} clays, shall c•anstitute ;t breach of this nu,rtg: L;c,
:cud, at thc• option of the Asscx ir,tirnt, inunediatcly mai:.rc t},ce cntin• ;um,rrnt of prine•ipal and interest hereby scctucd, and th:•
\scoci,ttion, inuneaiately and \\•ithnut nntic.•, may institute pmecedin~~; to fn!eclnse iltis nn,rt',.trc and app'\- fnr thc• ;tpl>.,inimtnl
of a lieceiyer, as hereinafter provided.
S. "phis rnurtgage c•ontr.tct provides far additional ::dvance_ \yltich :nay he mark at the option of the :r,sociatiun and
secured by this nutrti;age, :utd it is agreed that in the event of such :ulyance•s the ^rnount may' he added to the nu,rtgage debt
.uul shall incmasc the unpaid b;d:uue of the note hrreb_y secured bv-thc amount of such advance anti sh:dl be a part of said
note indebtedness under all the terms of said note and t?cis contract ; s fully as if a uc\v such note and contract \vere exrcutecl
col delivered. .1n additional atl\•ance agrcenu•nt may be• gi\•cn unrl atcepteci for snot :ul\•ance ,tntl provision nasty br• mule for
rlifft•rent numthh• payments :nt<I a different interest rate and other express T.udificatiuns of the contract, but in :til other n•spech
tlti; crnt~ract •:hall remain in fall k,rce :nul effect as to maid indebtedness, including all ach'anecs.
6. If :toy of the soots uE money herein referred to be nil promptly anti fulh• pool vcr.hu: Thirty (3t11 days ucxt .tfter
tht• same sevcr;>Ily cY,me duc and pava]?]c, or if each oral every the st~nul•ttions, u~~rc•rtncnt, condition;, :cud covenants of said
promissor~• note and this deed, or either, are not duly performed, complied vyitb and abided by, the aggregate sum mentirntetl
in still pntrnisam' uote and any other amount or amo:utts added to the nwrtgagc indebtedness under the terms of this mnrtgar~r
spoil became due and p:n•sble forthwith nr there_tfter at the option cf the Aswciation, as fully and completely as it said ag~gcc~att
wm of money \9a1 originally stiptrlaterl to Ice paid rnt such clay, anvthiug in said prcmissurv note or herein to th;• e•rnttrar\• nnt-
\vithstanding.
;. 'po dcliy,•r to the .gssnciaHuu, rnt or ixfnre March 1Sth• of each ye,tr• tax receipts evidencing the paynu•nt of all ?a\+-
fulh• im(tusd tines for the pn•ceding c•.tieudar year, to deiiyer to the :lsatciatiun receipts evidencing the payment of all liens
fnr public improyc•nu•nts within ninety (p0) days afte•~ the same shall hcrrnne duc• and payable, and to pay ur discharge within
ninety (~) days after due date, any and all government; l '_cvics that may be mule on the mortganed p::•,x•rty• an chi; nu,rtgart.
nr note, or in :utv utiu•r +yay res+rltint; from the mortgage indebtedness a•c•urc'(? i,y this mnrtgaee. -
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