HomeMy WebLinkAbout2475 .,t aU timrs peacr~ably und quietly to enter ulx~n, IKdd, ~xrupy ;~ud cur?~~ ~~d I.u~d; tiwt ~;?id l:iud is frc~: f~om all cy~cumbrir~ces;
that thcy will make such further assurances to perfect the fee simple title to s;?i~l land in the Ass~xiatiun as m~v ~c:~w~wb)y
r~v~uimd; and that they do hereby iully warrant the hde to saii~ laud .uid ~viU defcud ihe .ume agaiust tta• la~vful cl.?ia?s ~?i
.cll ~?c•nuns a•homsoeve•r.
PF~Ot'[DEll AL~t'Al'S th:~t iF thc \lortt;.i~;urs shaQ ~vcl! at?d tn?ly pa~ w~to tlu• :1~vx•iatK~n, tlx in~lcbtccLi~~ss ~•~~da~c~eci
h~~ that ceriain pmmissory ~wte. of even date hetewith, made bv tt~c \foctgagors and r:?~•ablr to tl~ Asuxiation, iu tlK• priori~~al
:u~n of ONE HUNDRED TWENTY-NINE THOUSAND SLX HUNDRED AN D~NO/ S~
29, 600. 00
~.hich note, t~?gcther .~~th interest ther~Y?n ~i~i~lt . at the rate specified.
Pc•incipal shall be due and payable in full on August 10, 1974. Interest shall be due and }
payable monthly commencing on the lOth day of September, 19?1 and on the lOth day of {
each month thereafter until this note is fully paid p~q~;~c~pcxxxxxxxxxx~.
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s2i?~iltdt~~ , then this deed and !he cstate hcmb~• crc:?tctil cluill cease and be null and aroid. ~ f
Ai\D THB ~fORT(:AGORS DO hcrcby cv~enant and agrcr: ~
1. To p?y. all and singular the princi~ul and interest and uther sums of money p:it•able b~- ~~rtue of said prumisson• note• 3
.u~d this mortgage, or cither, promptiy on the clavs respectivelv the same ceverally cc~me due. ;
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To ~ay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of e~•en• nature and kind ~
n~~~~• rn~ said dc~scrihed property, or thaE her~~fier fnav be imposed, suffered, plaeecl, le~~ied, or .usecsecl thereon,~or that herraftcv '
mar be le~~iec1 or assessed upon thu ~tortgage, or the indebtedness secured herebv, cach and e~~en~, ~~•hen dae and ~a~•.,bk,
.~crorclu~g to lau•, before the~• become deli~K~uent, and before am• interest attaches or um• penalty ~c ineumed; and insoiar :u
.~l~~• thereof is of reeord the same shail be prompth- satisfir~ci anci Jisrh;ugecl of r.°c~orcl ancl t}~ origioal offieial document (suc-h
is, for irutancc, the tax rc:~eipi or the citisfaction pa~er officiallv endursc~cl ~r certifiecl) shall be placecl in ihe hands of said
.association as ~fortgagee ~~~thin ten da~~s next aEter pa~-ment; and in the e~•ent that an~• thercY?F is n~t paid, satisfiecl and discharged,
said Assocc~tion may at anv time pa~• :1~e same or an~• ~art thereof ~~~thout ~~•aiveng vr a(fecting anv option, lien, equih• or right
imder or b~• ~tirtue uE this \fortg~ge, and the iull amuunt of each ancl e~•ery sach ~ayment sF~l1 he immecliateb due a~uipa rable t
and shall t~car interesi f~um the ciate thereof until paid at the nte stateci in the notr se~•urcYl hFreh~• :md ?.~?~ethPr ..~ith such intcr- ~
t~st shall Ue securecl bv the lien of thu ~iortgage. ~
3_ To keep the buildings and all ec~uipment and personal property noM or hema[ter on said premises covcrcd by chis mortgage.
insurecl in a sum equal to at leut the amount of thr monqage, or an amount sufticient to comply with anr co-insunnct rrquirr-
mrnt cocrring the same under the laws of the Statr of Florida, rn~•eriug loss [rom both [ire uxl seorm, making the loss under uid
~K~licies, each ar~e~ e~•ery. Nayat~le to the Association. as mortgagee, as its interest may appear, and said insunnce shall be in a good
aud res~wnsi6le i~u~ra~ue company satiafactory to said ~ssociation, aud rrritten by a resporuible local agent satisfactory to said 3sso-
c i.~tion: and the policy or policies shall be~r a st~ndard morigage clause without contribution, and, it the original princip~t amount
of the monKaKe is Fif~y 7'housand and noi 1(NI I?ollars (S50.OW_00) or in excess thereof, shall be held by the Associ~tion, and, in
ehr ecent any sum of mone) becomes payable under such policy or policies, the Assaciation s11all ha~e thr option to recei~e and applJr
the same on account ot the indebtedness hereby setured, or to permit the monqagon to receice and use it, or ~nr part thertof, for
othcr purposc~s, Mithout thtreby waivinR or impairinR any ec;uit}•, lien. or right under and by virtue of [his mortg~gr, anei may
~~lace and ~ay for such i?uurauce, or any~ part thereof, without Mai~•ie~K or aftetting its option to loredose, or ~r~y right hercunder.
and the fuA amount o[ each and e~en• such pay~ment shall tx immeciiacelv due and payable and shall bcar interdt from tht datt
eherrof until paid at the nte stated in the note secured hereby and together with such interest shal! tx secured br th~ litn o[ t6is
~tortgage-
-1. To permit, cr.mmit, or suffer r?o ~vaste, imE~innent or deterior.?tion of wid pruperh-, or :iny ~art therc~f, and upon
the failuro of the mortga~ors t~ keep the huildings on said pr~npert~- in gooci ecmdition of repair, the ~ssociation mav demand Lhe
in,mediate re~~ir of saicl bu:ldings or the imme~i:ite repayment of the dcbt hcreb~~ srcurcd, aud the failure nf the inortgagors
tu rnmpk «~ith said demand of the Association fur a peri~xl of Thirt~• (30) da~•s, shall coi~stitutc a breach of this moctga~Ge,
and, at the option of the Association. immediateh~ mature the entire amount of principa) and interest hereb~• secured, and the
\cmciation, immediately and ~~~ithout notice, mav institute proce~iin~c t~~ /~~rec~o~ this mort~a~r an~l appl.• fer the appo~tmeret
~i a (tecei~•er, as hereinafter ~m?viderl. ~
S. This mort~age rnntract provides for additiun.ii aJvancrs ~.~hi~•h rn~r be made :~t !he uptiun of the ~ssociation and
~ecured by this mortQage, and it is agreed that in the event of such acl~~ancrs the a:nount may be added to the mortga~e debt
.~nd shall increcise the unpaid balance oE the note herehv secured by thc amount of such advance and shall be a part oE said
,~~~te indebteclness under all the terms nf said note and ~this contract :.s fuUy as if a ne~v~• such nole_ :u~d oontract ~.~re exc~cuteci
+n~l ~ielivemd. An additional advanec a~rcrment ma~• be gi~•en and accrptecl For such advance ~nd procisic~n m.~~• be m~cie for
rliffcrent monthh• ~~:nents ~nd a di(ferent interest r.~te and other express modifications of the contract, but in all other resperis
ihis rnntr.?M shsll remain in E~dl foree and efEect as to wid indebteclness. inclu.iing all advanees.
6. If am• of the sums of money herein reEerred to be not promptl~ and fuU~• paid hithin Thirt~• ( 30 ? day~s ne~t after
the same severally rnme due and payable, or if eaeh and even the stipulations, agrcrmrnt, conditions, and c~venants of said
Promissory note an~l t6is deed, or either, are not duly performed, complied v~-ith and abided by, the aggregate sum mentiaoed
in said promissory i~ote aod anv other amount or amounts added to ihe mortgage indebtedness under the tern~c oE thu mortgage
shall become duc .~nd pa~•lble fotthK~ith ot thereaftet at the optic~n of the Association, az fully and completely as if said ag,~n-gatP
~um of monev ~~•as originalk stipulated to be paid on such dav, an~~thing in said promissorv rx?te or herein to the conMarv not-
•~•ithstanding. " " ' -
TQ deli~•er to the As~cociatiun, on or before ~farch lith, of each
~car, tax receipts evidencing the payrnent of all 1aw--
Fu{1y im~wsecl taxes for the prececlin~ c,len~far ~•ear, to deliver to the As.wciation receipts evidencing the payment of aU liens
fr~r pub~ic impmvements w•ithin ninety (90) days aker the same shaA hecomc doe and pnyable, and to pay or discharge within
ninety (90) daas after due date, anr and all go~emmental levies that may be made on the mort~aQed ptuperty, on this mottRa~e
~r note, or in am• ~Hher wap msultinR fmm the mort~age i~~debtednets securcci h~• this mort~age~_
80~ ~94 2~ 74 '
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