HomeMy WebLinkAbout2485 .~t aA times pr.?crably and c~uiedy to rnter u~w~~, M~ld, ~xrupy :uul ~~?r~~• uid I.u~d; ttwt ~:ud lrud is (rct frum all r~irou~branci.~s;
tl~at they will make such further assuranees to perfe~et the fee simple titie tu uid ianci in the Aswciatiun ~s rnav n:asuiial~ly Ix•
re~yuired; and that they do hereby fulty warrant the Ntlc to said ls~id and ~si1) defcnd the s:?mc agaiust the 1:?~~•fid rL~in~s o(
.:ii ~k•~..?os ichuuua~~•cr.
PRO~'[UEU AL\t'ATS that if tl~e llurt~.i~urs sl~al! i~•el) ~nd tndy ~av ~mta tl~t~ ~sWx•iatiun, tl~e• iu~irbte~claes.c i•videncecl
hr t}wt ccrlain [Kamissory note, of even date hc~e~~•ith, made bv tl?e \lortga~ors and ~xit•:?bli• to tiM AsuK•iatiun. in th~~ rrinci~~:~l
.~~m ~>f ELEVEN TfIO~JSAND NINE HUNDRED AND NO/100 ~k~~~:~~ ~s 11, 900, 00
~~hich note, togMher ~~•ith intetest the~rc?n a. then•in sjxcifie~l, is ~~:?~:~l?le~ in m~~nthly ii~stallments of I~.'INETY-NINE
AND 55/100
.
- . ih~llars (3 99.55
lOth August 10, 1971
~~n th~ d•ry of rach ma~d~ cY~mmcOClll~ \\7LIl . _ - K•hich pa}•mentc
.~re to be :ipplic*d, first to interest, and the bala*~ce to princip:il, uiitil said inekbteclness is ~id in full, and shall perform, eomply
..•ith and abide by each and e~•ery the stipulations, agreements, conditia~s and rn~•enants of s~?icl promissorv note and tl~is
mortGage, And, iocluding any advances macle by the Assaciation to the ~lortgagon, thcir suct~~ssors in titlr, ~f~x any parpose.
at anv time before the release and rancellation nf this mortgage, but at no time shall this mortg~ge secure ad~anc~c on account
~~f s:?id ori~i~al ~~ote together ~vith ~nch :~dditiaial :idvancrs in a sum in e~cess of . ELEVEN THOUSAND NINE -
- ~ . - ~
~
HUNDRED AND NO/100 ll 900.00
. _ . Dollars (S ' pltu anv :l(IYJilCfS neccss:?~•
t~~ protect the security a~?d eosts, thrn this eleecl and the estate hemb~• creati~cl shall crase and be null and ~~oid_ ~
A1D THE ~tORTGAGORS DO hereby cv~•enant and agrcr:
1. To pciy all and singuLir the principal and interest and other sums of money psyable b~• ~irtue of said prumissorv ~wt~
.~nd this mortgage~ ur cither, pcompdr on the da~Y rapecti~ely the same scveraUy come due. ~
2. To pay ali and singular the taces, assessments, levies, liabilities, obligations and incumbrarx~es of even• nature and kind
on said drscribed pc+nperty, or that here-after inav be iraposeci, suf[erecl, pl:?ced, M~•iNC1, or ;usecsecl thereon, or that hemafter
,na~- be 1e~•ied or assessed upon this \iortgage, or the indehtedness secured hemb~•, r•?ch and e~•en•, ~~•hen due and pa}•able,
.,crording to la~~~, before they beeome delinquent, an:l l~efore any interest attaehes ~x an~• penalty is ineumed; anci inwfar :u
.?m• thereof is of record the same sl~:ill be prompth• satisfied and discharged of r;conl and th~ original official document (surh
~s, for iactanc~, the tax receipt or the satisfaction papcr officialh• endorsecl or certiFied) ~hall be plamd in the hanck of said
Association as \[ortfia~ee N~thin ten dats next after pa~-ment; and in the event that anv thercof is not paid, satisfied and dischargccl.
said Association u~a~~ at anv time pa~~ the same or any ~rt thereof ~~~thout w-;iiving~or affccting am• c~ption, licn, equitti• or right
under or b~• ~~rtue uf this ~forigagc, and the iull amuunt of each and cven• such [>a~~mcnt s},a11 be immedeatelv dae andp~ ~-ahle
:ind shall bear interest ~rum the date thereof unW paid at the r.ite stated in the note scti~urc~ci t~ereb~• and t~eth~r ~~•ith sueh inter-
~~st shall be securecl bv the lien of lhis ?~iortgage. ~
3. To ketp the buildings and ali equipment and personal propertp now or herea[ter on uid premises covered bY this mortgage.
insured in a sum eyual to at leut th~ atuount ot the mongage, or an amount su((icient to comply with any co-insurance nquier-
mrnt co~ering the same under the laws o[ ehe Stace ot Fbrida, coa•erin~ lass (rom both fire and storm, making tbe loss und~r said
Ewliries. each ~nd r.ery, pay~ble to tht Association. as mortgagee, ac iu interrst m~Y ~pptar, and said insunnct shall be in a good
and res}w~uible insurance com~auy satistactor~ to s~id Associ~tion, and written by a responsible local agent satistaetory to said Asso-
ciation: and the poticy or policia shail bear a staudard mort~{agt clause without contribution, and, if the original principal amount
of the monqage is Fi(ry Thousand and no'11K1 DoU~rs (f50.000.00) or in txcas thereof, shall be held by the Association, and, in
thr event anY sum ot money becomes payable w~d~r such policy or policies, the Association shall !u~•e the option to recei~-e and applr
che same on account of the indebtedness hereby secured, or to permit ehe mongagon to receire and ux it, or any pan therrof, tor
othrr purposcs, Nithout thereby wai~iuR or im~airing anp eyuit~•. I;eu, or right under and by rirtue oE this mortgagt, a~ mar
place and pa}' tor such insurance, or an~• part thrreot, uithout ~.ai~~inK or aftecting ia option to torecbse, or any right herrunder.
and the tull amouut ot each and ea•erv such pr}~ment shall be immediat~ly due and payable and sh~ll bcar interest from the date
chcreof nncil Euid ae the nte sated in the notr secured hereb}~ and iogether rvich such intemt shall 5e secured by che lien oE this
~tortgage.
To rermit, commit, or suffer n.~ ~~•aste, impairment or dc-terior.~tion of uid prupert~~, or .?n~• part thereof, and u~n
!he failure of the Rwrtga~ors to keep t6e buildin~;s on said pr+opert~~ in guocl cnnditiut~ o( repair, the Associateon mav demand the
in~mecliate re~uir of r.iid bu:WuTgs or the immecliate repa~~nent of the debt herrb~• seeurecl, and ihe failure of the martgagors
t~~ compl~• ~~•ith said demand of thP ~ss~~iation for a~ri~xl of Thirt~• (30) d:?~•s, shall constitutr a breach c?f this mort~a e,
,ind, at the ~tion of ihe Association, immediatFl~• mature the entire amount of principal and intcrest herebt secured, and ~
acu~eiation, immediatel} and without noticr, mav institute proeeec~in~~c tu furec•1osP t}?ic rrMrtQa~e arrcl apph• for the appointment
~~f a Rc*ceicer, as hereinafter ~xnvidc~l. ~
5. This mortgage eontraet ~xovides for additiuna) advaucrs u~hich ma~• be made at tlir uptiun uf the assocc~tion ancl
~ecuned bv this mortgage, and it is agreed that in the e~•ent of such aJ~•ances the a:nc~unt may be addEYl t~ thr mortga~e debt L
.~nd shall incre.-~se the unpaid balance of the note hereb~ st~nircd bv the amount of such advance and sh~ll be a iurt of saicl ~
~~te indebtedness under all the terms oE said note and t!~is contract as fu11y as if a nevv such nole 1nd contract ~a•e~e eaeriitFC!
~nd ~leli~•ered. :in additiona) advancc agrcrmcnt mat• be giren and accepttd for such advance and provision ma~- be made for '
~iffemnt monthh• ~?a~-ments ::nd a different interest r.tte a~~d other express moclifir.~tions of the contrac:, but in .~II other respects
ihis rnntr~ct shall remain in Eull (orce and cifert as to said indebtecincss. includin~ all ad~•ar~ces.
i
6. If anv of the sums of m~mey herein referred to be not prompth and fulh~ paid w•ithin Thirt~• (3(1) days ne~t after
the same sererally rnme due snd pa~able, or if rach and even• the stipulations, anreemcnt, ccmditions, and a~venants of s;?id ~
~:omissory note and this deed, or either, aze not duly performcYl, complied ~•ith and abided by, the aggregate sum mentioned ~
in said promisWrv riote and anti~ other amount or amounts added to the mortg~ge indebtedness under the tcrms of this mortRa~e -
shall bcc.~ome duc and pas•3ble forthwith or thereafter at the option of the Associ:?tion, as fullv ancl completeh~ as if said a~~regate ~
sum o[ monev w•as originally stipulated to be paid on such da~•, an~~thin~ in said promissorv ~te or hrrein to the rnntrarv rN~t-
~?~ithstanding. . . . -
To deli~~er to the ~lssociation, on or before ~farch 1Sth, of each ~ear, tax receipts evidencing the payment o~ all l:iK- f
r~~3~y :m ~orcl taues for the ~~recrdinq calendar vear; to deliti•er to the Association recei~ts cvidencing the payment oE all liens
for pub~ impro~ements h-ithin ninety (90) ci~ys after the same shall hccomc due ;u~d pa~~able, and to pay or discharge within
ninety (90) da~~s after due clate, any and all ~ovemmental letiies that may be made on the mort~:~Qed ~n~reth•, im this mortQafie '
~~r note, or in an~~ other wa~• msultin~ fmm the mortfiage indebteciness serured b~• this mortRaqc~. '
~a~K i94 2484 a ~
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