HomeMy WebLinkAbout1324 .~t aU timrs ~xacrabl}• :uzd quirtly to eu?.er uEwu, hol~i, ~?crupr und c~y~n• s;ud l.~ncl; tt?:at ~:~id lu+?~1 u fret• fruin ~A enrumbr~ncc.~s;
that ~1u~y will nwke such Eurther ussurances to perf~ct the fee simple iitle to ~id land io the Asx~ri.itiou :u mav n•.uuuably lx~
r~y~uinYl; and thst they do hereby fully warrant the tide to saul lau~i and a~ip dtdcud Nie .amr u~ai~.st t{u• l:~~vfnl cl.?ims uf
.:11 ~x~r.uus ~vl~uu?s~x~vcr.
PRO\'IUED AL\\':~YS th;~t if thc \lotlt;.it;urs ~halt ~vell anc3 truly [~:z)• uutu tht~ :\..~x•iati~~n, ih~• i~~~l~•bteYln~•~~ i•~•idcnt~t
h~• that ccrtain pmmissory note, of e~•en cL1te here~~•ith~ made bv the \lort~.~gors :ind ~x~~;~b1~• tu tlu• A~ux~i:atiun, in the• ~~rim•i~k~l
.,~~n ~>f TW~LVE THOUSAND FOUR HUNDRED AND ND/100--------- ~~,t~:~~ ~s 12, 400. 00
~.hirh noti~, tu~ethet ~~~i1h interest the~t~n then•i~~ s~x~cifi~~ct, is ~xi~•:~bl~~ ~n rnuntlilt• instalhncnts ~~f ONE HUNDRED
THREE AND 53/100---------•-----~•--------------------------------------------- '
. ~h?Ii:~n ~S 103. 53
„n the 20th da}' o[ earh n~uutl+ cti~~iu~irneiu~ ~~•ith AUgUSt 2Q, 19~1 ~chich paYments
.~re to !x appliacl, first to interest, :u~d the b:ilanm to principal, until said indebteciness is paid in Eull, and shall perEorm, comp]y
~vith a~?d ubide by eseh and e~•ery the stipulatiuns, agn~ementc, eonditio~u and c.~~•enants of saiel peomicson~ note and tl~ic
mortg:~ge, And, including any advances made bv the Aswciation to the \fort~;agurs. or their s~~cec~ssorc in titlr, h~r any ~~urpase,
at anv time before the mlr.tsc~ and cattmli:~tion ~of th;~ mortfia~e, hut at no timc shall this mortga~e secu~e advaemes on acrnunt
uf s;iid nri~inal ~x~te tu~ethcr ~~•ith su~•h udditional ach•auces in s+um in exersS of TW,F-,~.+~F.r..~i~DU~-KD--~QU-R -
HUNDRED AND NO_ 100------------------- ~ ~ plus ai~~• ad~•aix~es neressan•
- (k~llars S 12 400, 00
tu protect the securih~ aucl c~sts, then this deNd and the estate herebt• emat~~l sh:sli ce-ase and l,e null and ~•oi~i.
A\D THE ~fORTC:AGORS I)O h~•reb~ cvvenant and agreY:
1. To pay all ancl s6igulat the principa) and interest and other sums oE m~~~~ey pa~:ible b~• virtue of ~id prumis.~n~ nutc
~nd thu mortgage, or rither, prompth• on the d;?~s respecti~•elv the same sererally come duc. ~
To pay all and singular the tazes, assessments, levies, liabilitics, obligations and incumbrances of e~•en~ natare ar.d kind
u~~~r on said d~scribecl pmpert~•, or th:~t hereafter ~nav be imEwsecl, xuffemd, ~~l:itt~cl, leviecl, or assrsseci therean, or that hemaftrr
ni.?~• bc Ie~•ied nr as~cess~~ci upon this ~fortg:.ge, or the indebteciness scY~irc~cl hemb~•, e:+c1? and e~•en•, ti~•hen diie and pa~•::ble,
.:cYVnlu~g to la~~•, before thc~• lx~camc clclinyucnt, ated heforc an~• interest attarhrs ~~r :~n~• rxnaity is incurmd; and insofar as
.+r~c thereaf is of rec~rd the s~me shall be promptle s.itisfiecl and disch:u~ed of r:~c~rcl ancl the uriginal offici:il document (such
is, for instance, the ta~ recei~t or the satisf;?ction ~x?per officcilh• endorsc~ or certifiecl) shalt bt~ ~~lacrcl in thc haexls of said
:~ssociation as \tort~~~ee ~.ithin ten da~•s next after pacment; and in ti~e e~•ent that ant• thereof is not jx?i<l, satesfied anti di.schargecl,
said Association m:n~ at ant~ time ~:n• tlie same or am• ~~rt thereof ~~•ithout ~~•aiviug or af(ecting ~n~~ option, licn, ec~uih- or riRht
nnder or bv virtue uf this \lortg:?~c, and the [ull amwu~t oF r.ich and even such ~~~~ment s}~all l~ immedi:ilclv due a~id [~.~~•able
:+ud shall bear interest (rum the clate thereof until E:aid at the r.it~ statcYl is~ the no:r ce~•urecl hereb~• :wci toGMhPr ~~•itL such inter-
<~~t shall t~e sErurc~l 6~• the Iien oE this itortg:~ge. ~
3. To kcep the buildinp,s and all equipment aud peesonal proper[y now or hema[ter on said ~ucmises co~ered by this mor[gagr,
insured in a sum equai [o at least the amount o( ~ter ~noreqage, or are -rmount su[ficient to complr with any co-insufiance require-
rnrnt corerinR thr sam~ u~~der th~ laM~a u[ the Statt ot Florida, cacrri~sg !oss from both fir~ and storm, making the lass under said
Ewlicies, each ar.d e~•cry, payable to the Association. as r.wrtgagte, aa its intrrrst may appear, and said insurance shall be in a goal
and rrspo~uible insurauce compa~ey srtis[aceor~• to said :~ssociation, at~d Nnttrn by a responsible local age~~e satis[actory to said ~?sso-
eiation: and che policp or policies shal! bear a staiidard mongage clause Nithout contribution, and, if the original principal amount
oE the monqaKe is Fi[ty l~housaud and no? 100 I~Ilars (550.000.00) or in extess thereof, shall be held by the Assoceation, and, in
~hr e~ent any sum of moner brtomrs paJrablr uuder such pr>licy or poliaes, the Association shall ha~-e the option to receivc and applr
ihr same on accoune o( the indebtctiiness hereb}• seiured, or to permit the monRagors ~o receice and use it, or any part thereof, for
uther purposcs, without thcrcb~• »ai~inR or impasring anv equit~, lien. or right under and by ~•irtue ot this mortgage, and may _
f~lace and pa}~ [or wch iusurance, or any part thereof, without wai~inR or attectinq its option to torrcloae, or anr rigt?t hereunder,
~nd the tull amount o[ each and c~•ery such pa~ment shall i~e immrdiatcly due and pa)able and shali bear interest (rom the date
chrreo( until paid at the rate stated in the ~.ote secureel hereby and togethrr w~th such interest shall be secured br the lien of this
' \fortgage.
4. To permit, mmmit, ur suffer no «•aste, im~k?irment or d•_•teriur.~ti~~n ~f wid prupem-, ur :inv jh~rt thereof, and u~wn
the f:tilnr~ of the murt~a~ors tv kcep the buildin~s on said propertr in ~ocxl c~md:tK~n of repair, the Association mas demand the
~n~medi:{t~- rcpair of s:?id bu:ldin~s or the imm~Yliate mpa~-ment of th~ clcht hcreb~- scrurctl, a~~el the failure u( t}x mortgagors ~
t~~ comph• n•ith said dcmand of th~ ~tociatioi~ for a rcri~xl of Thirty (30) d:~~-s, shall co~~stitutc a breach of this ~nortgaRc, ;
and, at the option of the Assex~iation, immecli;itPh~ m;dure th~ entirc~ amotint nf principal and interest herebr securecl, •and the ~
lccociation, immediately and ~~ithout notice, mav institute procer~linns M forecluse this mort~a~~ and apph• for the ap~intment
~~f a Recei~•er, as hereinafter pm~•ide~l. ~
i. This mort~age rnntract pro~•ides for additi~~u.?I ad~•an~rs ~~hich muv be made at the cE~tiun uf the asw!~i~!ion and
~crured bv this mort~age, and it is agreed that ui the e~~ent of such aeh•ances the a:nount may be addc~cl to the mortga~;e debt
.+nd shall increase the unJkzid balance of the note hereln• secnred bv the arnount oi such advance and shall be a~art of saic!
n~te indebteclness under all the terms nf ssic) noie and this eontract ~s fulh as if a ne~s• such rn?te and a?ntr:~ct •.,~~re exerutecl
~nci rieli~•erecl, An additional ad~•ance at;reemei~t ma~• t~e gi~•en and acceptecl fc,r such aclvancr and provision ma~• be made fur
~liffemnt monthl~ ~~a~ments .:n~l a different interest r.ite and~other express m«liEications oE ihe cuntract, but in ail~nther resix~cts
~his rnnUatt sh.~ll remain in fnli force and effect ac to caid indebt~~dness, includinR all ad~•ancex.
6. If an~• of the sums of muney herein referrecl to be not prompth• and fulh• paid w•ithin 'fhirt}- (3t1 i days nrxt afte•r -
the same se~•erailv cv~me due and pavable, or if esch and every the stiptdatio~~s, a~rcrment, conditiuns, and cv~•enants nf s:~i~l
~r~,missory not~ and this deccl, or either, are not duly performcd, cc~mpiied w•ith and ahided hy, the aggregate sum ment:oned
m said promis.orv nclte and am• other amount or amounts added to the mortga~e indebtedness under the terms of lhis mort~age
shall become due .~~J p.~.-~ble forthwith c~r tF?creaftt~r at the option of the Associ:ition, as falh• and rnmpleteh• as if s:iid a~~rc~at~•
~um of monev a•as ori~inally stipulate.~ to jraid on such da~•, am~thin~ in said promissor~~ nnte or hE•rein t~ th~ rnntr.?rv »~it-
uithstanding. - ~ .
To deli.~Pr to tht~ Ascociatior., on or Ucfore ~1~rch 1ith, of each ~ear. t~c receipts evidencing the pa}'ment of a!i laH~- ;
Fnllv im~~~ taxcs for the I~recrdin~ cdend:ir ~•ear; to deliver to th~ Association receipts cvidencin~ the pavment of all liens '
for ~u ~W'c i~npro~•ements H•ithin ninety (901 days after the same shall herome due :~nd pa~•abk, and to pay or discFuarge within i
~~inety (90) da~-s after d~~e date, am- and all govemmental levies that mav be made ~?n the mort~.~eed ~rupertv, on this rnortGa~c-
~~r nnte, ~r in am• other u•a~• reKUliii~Q from the mc~rt~age indebtedne•ss zrcurM) ht• this mortRa~~•. ~
B~ 194 i32~
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