HomeMy WebLinkAbout1221 .~t ali timex lx:~cc:~blv srtcl c~uictlt' to rn!er a~wu, la~ld, ~xrupv :in~l ~•~~j;~~• ~.u~1 Lu;~l; tlwtt s.ii~l lan~l is lri~~ (iu~n al! ~•nc~~n:l~raua-s;
c1,:~t thry will make surh fu~ther assurnnces to ptrfect the fee simple title to ~id lancf in the ~aux•i:it~on as mar ~r.isuu:~l~lv !x-
m;~uin~cl; auJ that they tlo hereby fully warraut the titk to said lan~l :~~ul a ill d~dcnd tL~• ~:une• atiain>t Il~r t.ia (ut cl.unic uF
.:II ~x~r~ms ~~I~uniux•~rr.
PHO~'ll)EU AL~1'~l'S that iF tl~c \lurt~.?~urs ~hall v rll an~l truly ~~.~v uutu ih~~ .~..exi.~tiun, ~he• iudrbh~cli~rs. rvidetetti~!
h~• tFwt cc~~ain pmmissory ~~ote. af e~•rn clate he~ea~ith, neade b~• chc~ linrt~.~;urs an~) ~~:n•ahlr tu tl~~• :~,ux•iatiun. iu tl;e• ~~~ii~ci~.:?1
<~im of THIRTX TWO THOUSAND AND NO/lOQ ,g 32,000.00
hich rwte, ta~cther a•~th inte~est~~it~~c~n :es therein s~x~cifie~l, is l~.i~.~l~lr in munthl~• inct:~ll~nents ~~f TWO HUNDIZED
FIFTY-SEVEN AND ?9l~00
~?*~Il:~n (S 257.79
on thc ISt clay uf cach ma~tl~ c~~mmrnci~~; ~~~ith September 1, 1971 _ .~~hich payntet?tc
.~m tu be :~pplk-d, [irst to intcresi, and ihe balancr to princi~ul, until s:?id ~ntleLtc~lnesc ic paid in full, and shall perform, rnmply
.~~ith an~1 abide by r.?ch and e~•ery the stipul:~tans, :ifin-c~meuts, rnnclitions ancl c~c~~•en:~nts of s:iid i~romisson• note aiid this
murtgage, And, including ant~ advances made b~ the Association to th~ ~tort,~~gors, or their sucreswn in tiNr,~for anv purPace,
at anv time before the relrase and rancell:st:c?u of thi. mortti:iKe, but at no timr ~hall thic mort~~Ge secure ach•ancc~ i„~ account
~~E s.~id ori~inal nute together ~vith such .idditie?n.il advai~c-c•s in a sum in e~ress of THIRTY TWO THOUSAND
AND NO/100 ~?Ilurs 32~ 000. 00 ~I~u anv advance~s necessan•
n~ E~ruteet the scrurih• and eosts, thrn this deeci anc. the c~tate herebr ere~tcYl shap eeu~e and 1~e null and voicl.
A\D THF ~IORTC:AGORS UO hrreb~ an•enant and ag~e~~:
1. 'To p;?y all and si~ ~~ul~~ thc principal aud interest and other ~ums of munry ~}-able br ~•irti~e of s:~id pruinisu~n~ nc~t~~
.,n~l thu mortgage, or cither, prvmpth• on the da~~s respecticely the same ~~•erallv come duc. ~
To pay all and singular the ta.~es, assessments, levies, liabilities, obligations and incumbruncti~ of even• nat~ue and kincl :
~~,~:r un said d~~scribeel propert~•, or that hereafter uu?v be im~seci, ;uffereei, placecl, It•~•ieci, or assesseci thereon,~c?r that hemaft~r
n~a~• be Iecieci or assess~~c1 upon this llortgage, or the indebtedness seeurec! hemb?•, r.~ch :u~cl r~•en~, ~~•hen dur and pa~;?hlc, -
.+crordu~g to la~s, bcfon: thr~v 1?rcome dclin~~ue:~t, an~1 before anv ii~terest attachrs or am~ pc•nalty is incurrrcl; and i~uof.ir as
.u~v thereof is of rea?rcl the same slr.ill be E~romptl~• sutisfied and uischar~;c~l af r~m~d :md the uri~inal official dexmucnt (surh
~s, for instancr, the tax reeeipt or the ~:?tisfaetiim lx~per oEfieiall~~ endorseci or ee~ti(iecl ) shall bc~ pl:icrcl in t?~c han<ls of s::iil
:~s~ociati~n ;~s ~lort~a~ee ~rithin ten da~s ncat after ravment; ancl in the e~•cnt that anv therrrf is not ~~:~id, s,ltisfiecl and dixhar~~~l.
.ai~i Assvc•i:~tion mxv at am• time Pa~• tiic s.~me or any part thc~euf ~~ithout ~~:iivsng or .iffccting an~• uption, lien. equit~- or ri~ht
~mdet or b~• ~tirtue uf thu ~fortgaoe, and the (ull amuunt of each and rven~ such 1~~-me•nt sl~all br immc~cliateh• ~1ue and ~•abic
.u~d shall lxar interc~ct frum the date thereof until paid at the r:ite statcYi in the note sec~u~c~ct herrb~- :inel h~eth~r weth sae~int~~r-
~Kt sh:ill tx scrurecl hv the lieti oi this ~iort~.~ge. ~ ~
3_ To keep the buildinRs an~i all eyuipment r~~d per3or~a1 property now or herratter on uid premises covered by this mortgaRe,
iusurcd in a sum eyual to at Ieast ehe amount of thr mortRage, or an amouut sulficient to comply with any caina~rance require-
mrnt coa~erii~R the same under the I:rN'S OI the Statr of Flonda, co~•erinR losc trom both firr and storm, making the iaas undet said
Ewli~ics, each a~~d ever}, payable to the Assaiation, a. mortRagee, as its intrrc~st may appear, aud said i~uurance shall be in a gaxt
and trsponsible insura~~ce compa+~y satisfactory to wed .~ssotiation, aud written by a rrspoiuible local aqrnt utis(actory to said ?lsso-
i~ation: aud the policy or poli~ies shap brar a standai~t mortgaqe clausr Nithout tontribution, and, if the original principal amount
n( thr mortkaKe is fi(t~ "I~housrnci and no' IIN1 Ik~llars (550.000•00) ur in e~ctess thereof, shall be held by the Assotiation, and, in
thr ~~rnt anJ~ sum o( mone~ becomes payable uuder such poticy or Nolicies, the .1.SSOCiation shall has•e the option to rereii•r aud apply
ehr same on account of the indebtcYlnrss herebp se•curetil. or to permit the mottRaRors to recei~e and use it, or an~ part thrreot, for
uthcr pur}?oscs, wichout theteb~ Na~vinK or impairinR a~iy eyuit}. lirn. or right under and b} virtue ot this mortgage, aud may
p~•~ce and pa~• for suih iusuranee, or an}• part thrreoL without wai~inK or a((ectinR itc option to (oreclose, or any right hereunder,
,nd che full amount of each and e.erv w.h pa}mcnt shall tx immcYliatrl~ du~ and parab!e and shill bcar interest from che date
~hrreof until µ~id at the rate steted in ~he no[r srcurect hereb~ and t~ed~er with such interest shall be secured bY the lien of thia
~lortgage.
To Permit, mmmit, ur suffer no ~a-:iste, i~npairment or detereur.~tivn uf s:~id prupert~-, or an~~ part thrreof, anJ u~wn
thr failur~ uf the m~?rt~::~ors to krep the in~ildi~eKs ~~n said ~~n~pcm• in ~~xul cymditiu~i rerau, the :~ssociatiun mav demand th~
rnnu~.li:~tr rc~ir of s.iid buil~lin~s or the immcYliate m~~Tnent of the ciebt hereb~• u~turc~l, an~I tf~r failun uf tF~~• nwrtgagors
t„ c~mpl~~ ~~•ith said dcmind of th~ :lss~ci.ition For :i (x~ri~Kl ~~f Thirt~~ (•`3(t) d:i~•s. .}i.zll cti»~stitut:~ hre<ich vf this m+>rt~;as;e,
.~nd, at thr nrti~~n of Ihe Association, immecliat~h• n~.iture thc entirr :im~unt of princi~al and inten-st hereb~• securecl, and the
\«ciation, immediately and ~rithoat tietim, ma~ instih~te pmc~r~lin~,c tn fore•c•lo~e this mnrt~:i~~ :~ncl :~pp1~- f~~r the apEx~intment
1 }iecri~•er. ;is hereinaftcr provide~l_ .
This mcxt~a~~ contract providc~s for additiuu,~1 a(I~';I11(Y~5 ~~~hich m~~• lx maile at tiK• uptiun uf the ,?_~.xx•iation and
~~urc~i bv this mort~age, and it is a~reecl that in the event of wch ad~•ances the arnount may t~e :tddcyl to thr mortK.~~e clrbt
.~n~i sha1) incrcase the un~id balae~ce of the note herebv sece~reJ bv the amotu~t ~f such advance ar,d sh:~ll be a p:irt of sai~i
nute indebtetln~~ss under all the !erms nf c:?id note and this contract :u fullv as i~ ~ ncwti• such nolr ;~nd a~ntr.ict .~<•re ex~Y~uteil `
~n~1 ~lelirrred. An .~dditiona) aclvance :~vreement ma~• lx gi~•e~n an~l acrepted for s~~ch ad~ance ai?e1 ~ro~•ision ~n,~~~ :x• m.~de f~?r ;
~!iffemnt mont6h• ~:~~ments ::nd a c'i(fere~nt intrrest rate and other ex~xess m«iific:?tions o[ the a~ntr:zc:, h~~t rn aA ~~ther res~x~~is
+his cnntrzM sh.~l) remain in f„11 furcr and e~ffeet as tu wid irale~bt~Klness, includit~f~ all ach~nces_
6. If ar~• ~f the sums oE muney herein referrccl to be not prampth• anel f~dh• p:~id .ait}ur~ Thirtt~ (:3~); da~•s u~~~t ah~•r
tLe same se~•eral]s' crime d~~c :?n<I pa~•abie, ur if cach and even• thc stipul.iti~?ns, ;s~rcY•mcnt, cy~nditiuns, :tnd cYn•cn:~nts ~~f s.~i~)
~'~'~m~$~'9 ~ti~~ or either, are not duly performed, compliecl v~•ith and :~bidecl b~•, the a~refiate sun? mentirnieci
ir~ said promisc~~n• nute and am• other amo~utt or amuunts ad~letil to the ~nartGa~e indebtecinrss unde~ the t~nns of thic rn~~rt~age
shatl become due and pa~•~ble f~~rthw•ith or thereaftc~ at the optiun of the Associ.+tiun, as fulla• ai~d rnmpletclv .is if ,;iid a~t;rrs;ah•
tum pf monev ~~-at originallv stipulated to be paid on sueh da~•. an~~thinG in saic3 promisGirv notP ~~r he•rein to th~ cy?ntr,~n~ nc?~-
•••ithstanding. .
To deli~rr to th~• !~sx?ciatHm, on or before ~larch lith, each ~~e.?r, tax rectiipts evi~l~•ncin~ 1he Ex?}•mcat of all la~v-
fnllv imp~sed taaes for the lN~YY'(IIII~T Calencl.~r ~•ear, to deli~•e•r to th~~ Association rece•irts ~~-idencin~ ihe payment of all liens
,'~~r public impro~•ements Nithin nir~etv (90) ciays after the same shall Fxrnme due and parable. and to ~y cx ctiscl~:uKr µ'ithin
•+~netv da~s ~Fter dife date, anv a?id al! K~~vernmental levic~s that mav br mrd~ ~?n the mortfi.~ec~l pru~~rt~•, un Ihi~ m~rrt~:~~i•
rx>te, rx in au~• nther K':lY n~nltin~ fmm the m~?rtfia~A indelkt~clni•cc u~c•urt~l b~- this ~rx?rt~a~t• ~
ao~x 194 1~21
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