HomeMy WebLinkAbout1087 ~ ~ . i
: ~+=J ~ . ~ 1 I
^ (
`
r ~
at aD timespesoeQWy and quietly to enter upon, bold, occvpy and eajor sard Wnd; t6at aaW I~ad b froe ft~om all aicumbr~t~oes;
e
that wiA make such fuither a~u~anoes Eo perfec~ d~s fes dmple title to said laad in t6e AaaociaKoa as may reasonably be
ar'M~ do h~cby f~ly wamut t~e Htle t~ said land and w~U defa~d the sama against the lawful clauns af
PROViDED ALWAYS that if tbe M gagon shaU well and truty pay tmto the Association, tLe indebtedness evidenced
by that oertain promissary nohe, of evea daM~hae~vitb, mads by tbe Mortgagora and payuble to the Association, in thc ~xincipal
sum of THIRTY-F'IVE THOi~SAND AND _NOj~00--,-_------_-------._.._ DoitRrs (=35, 000. 00
which note, toget6et wiM interGSt ~on as therein speciBed, is paysbk in monthly tnsMllme~ts of.-
---.~~e~est_~aYment~- c~te:--.~OL201~?--'--~~_~0,~3~~..1~120/6_7..-.~~~6~88. and then_regular--- - -
_ i~rterest_ and_principal_payments,_commence of___.
TWO HUNDRED SIXTY-SEVEN and no 100--------------- ~ 267 00
on ih~-----.~Q~h-------day of each month rnmmencing with--------~~e=~}belc' 2~0 ~ 196? PaY~
are M be a
p
p
l ~
e' d, firat t~o interest, and tbe bolance to principal, until aaid indebtedaess is paid h? fuU, and sbaII per[orio~. o o m
p~
y
with and a
b
i
d
e b
y each aud ev
e
ry the s
H
p
u l
ations, a g
r
e
e
~~t~ caonditions and cov~ants of said p~ i~ o ~
y not~e and t
b
i
t
~~Sa i~acluding any advances ma d e by tbe Assoclatlon to the Matgagon, or their suc~ors in tltW, for any pu~pome,
at any time befors the relea~e and canodlation of this moatgage, but at no tia~e sl~all this mortgage aectu~e advances ca acoount
of said original note together with such adciitional advances in a suan in acas af -
. .THIRT~-FN~ TIiQI:[SANDl~DT~NQ/1~-_---nollars (=.~,~5l99...9lZ--), »lus any advances neoessary
ta protect the security and costs, then this deed aad the estate hereby created shall c~ease attd be nuil snd v~nid.
AND THE MORTGAGORS DO hereby ouveuant and agree:
1. To p~y all and singular the prinw'pal and interest and other sums of aaney payabk by vjrli~e of said promissory note
and thi~ moitgage, or eitLer, pmmpRly on tbe daYs respectivelY tha same severally oome due.
2. To pay all and singular tbe taxes, as~ments, levies, liabilities, ohligations and inc~unbrances of every nature and lond
now on said desaibed p~perty, ar that haeaker ma~r beu~~~ suff~~,~d, plaoed, Ievled' or as~sed thereon, or that her~eafter
may be levied ar a~essed upon thit Mortgage, or the ess ~ureJ bereby, cach and every, ~rhea due and pa bk,
:~ccording M law, before they become delinquent, and before any interest attad~e.s or anypena1ty is incurred; and ~ ns
any thereof is of record the same shall be prompily satisfied and discharged of reoord and the originat afftcial document (such
as, for instance, the tau receipt or the satisfaction p~per ofticialty endorsed or eeriifted) shall be placed in tLe banda of said
Association as Mortgagee within ten days neat after payment; and in the e~vent that any thereof is not ~mid, satisfied and discharged,
said Association may at any time pay the same or any part thereof wIthout waiving or affecting any option, lien, equity ar ri~
under or by virtue of this !?iortgage, and the full amount of each and ewe~? such payment shall be immediate1y due andp~
ya
and s6a11 bear interest from the date thereof uatil paid at the rate atated ia the note secured hereby and together with such inter-
est shall be sec~red by the liea of this Mortgage.
' 3. 'I'o keep the buildings and all equipment and personal propert~r no~r or hereafter on said premisa oovered by tlw anortgage,
insured in a sum equal to at leasc t6c amount of che mortgage. or m amount wfi'xient w o~plr ~rith any oo-inauanoe requira
ment ooveriag the same uader the laws oE the State oE Florida, oovering loss [rom both fire and stozm. ma~ing the lon under said
policies, a?c6 and every, papable w tlte Association. as martgagee, as its interest mar appear, and said insunnce sha11 be in a good
and responsiWe insunnce tom~zny utisEactory to aaid Astotiation, and ~rrittea by a raponsibk local agent satisfacwt~ to said Asw-
ciation; and the polic~r or polida shall bnr a uanidard mortgagt clause without oontribution, and, if the original principal amount
oE the mortgage is Fifty Thouund a~?d no/100 DoUan (~50.000.00) or in ezcen thtrcrot. ~hall be held bj, th~ A~o~ciatioa, ind, in
che eveat any sum of money bemrna payabl~ under sych policy or poliaa. the As~ociation shall bave the optiop to r~oeive and applJr
che same on aaount of the indebtcdnes~ herebr secured. or to petmit t6e mortgag~on to reoeive and use i~ or any p~rt thet+cof, fa
ocher purpoaes. without thereby waiving or impairing any equity. lien. or right uadcr and br virt~e oE this wortgagr, and may
place and pay for such inwrance, or any part thereof, ~?ithout ~raiving or a[iecting its option w tonclote, or anr right hereundet.
and the Eull amoauc oE eacte and erery such papmenc shall be immediacely due and payabk aad shall bear iaunst fro~ the date
chereoE until paid at tLe rate stated ia the note securod hereby and tcgether ~rith such intera,t ahall be :eeured bp the lien of thit
Mortgage.
Top~m~ t, commit, or suffer no waste, impairrment os deterioration of said propeity, or aay pazt thereof, and upcm
the failure of the mortgagors to keep the buildings on said praperty in good condition of repair, the ~sociati~? may demand the
immediate repair of said buiidings or the immediate i~epayment of the debt hereby se~cured, and the failure of the mortgagors
to vomplv with said demand o# the Association for a period of Thirty (30) ~ days, shall constitute a breach of tbis mortgage,
and, at t~hc option of the Association, iminediately mature the entire amouat of principal and interest here~securr,d, and the
Association, immediately and without notice, may insdtute pmoE.~edin;s to foreclose this mortgage and applp the appoin~ent
of a Receiver, as hereu~after provided. -
5. T'his aw~tgage oantract p~ovides for additional advances which may be made at the o~ion of the association and ~
secured by this mort~gage, and it is ag~eed that in ihe event of such advanc~es the amount may be added to the awrtgage debt
and ahall increasa the unpaid balanoe of the note hereby ~d by the amo~mt of sndi advan~e and shall be a pait of said ~
note mdebtedness under al1 the terms of said note and this contract as fuIly as if a new such n~e anyl oonbract were e~cecuted ~
und delivered. An additional advance agreement may be given and aooepted for such advance and provision may be made for
cii(ferent monthlY paymeats sind a differ~ent intereat rate and other~ a~odific~~s of the oontract, but in an ~er respects ~
ihis contract i6a11 remain in full foroe and effect as to said 'mdebtedness, induding sIl advanoes.
8. If any of the sums of mo~ey herein referred to be not P~P~Y ~~Y P~ T~Y ~30) days ncxt aker
the same severally come due and peyable, or if each and every the stip~ilatians, agreement, conditians, and covenants of said
promiasory note and this deed, or dther, are not duly pezformed, complied with and abided by. the aggtegate sum a~eatio~ed
in said promis.4ory note and any otber amount or amountr added to tbe mortgage indebtedne,ss under tbe terms of this mostgage
sball beeome dne and payaWe forthwith or thereafter at the opfion of the Association, as fuDy and oomplete~y as if said aggregate
wit~?~andmn'.°`~ey was originally stipulated to be paid on auch daY• ~Y~~B Pr'Of°'~*Y noha ar herein to the oontrary not-
&
To deliver to the Association, on or before Much 15tb, of each ye~ar, tau reoeipts evideacing t6e paymeat of all lav~-
fuUy impoaed texes for the preoeding calendar yeu; to deliver to the Auociatiou reoeipts evickncrg the p4yment of aIl lia~t
for public imp~c tr within ainety (90) daya after the sxme shaD become due and payabk, and to pay a discharge v~ithin
ninety (90) daysvaf~due date, any aod aU go~?emmenmllevies that may be made on the martgaged property, on this mortgage
or note, ar in any other way resulting from the mortgage indebtedness secured by this mortgage.
~ "
; ~~K~68 ~~~1084 `
~ : .r- -
~