HomeMy WebLinkAbout0152 at all tim~•s ~x•aiv•.il~l~' si~~l i~uit•tl)• tu ~•nte~ u~xm, hult~, lKY'll'1\' .~U~1 ~•uj~~~• ~.u~l l.uu1; th,~t :.~i~i I,~wl i~~•.• li~an ali ~•ucun~l~r.tt~crs;
tliat th~~~' ~~~ill make surh fu~ttu~r assurances to perft~t the fce sin~~~l~~ htle tu saicl I.int! iu tlie :1~,~x•i.iti~» i.~c n~a~~ n•:uui~.~hl~ {K•
n•~~uirrti; antt tlr?t tEtc)' clo h~~tcb~' fully ~~'arrar~t the title to ss~~i l;~u~l .uul ~II ~l~•Irn~l tLr ,.urn• .~!~.~iu~t tlu• I,i~~iul c l.un~ti uf
.:1) ~x~r,~~us \L111q11\IN•~rr
YKU1'ft)!?U :~I.1\':~l~S tll.~t if thi• \l~ut~~,~~~un ~l~.~ll ~~i•II :uu) Ui~h' uutu Ih~• .~~:~Ki.~tiun, tl~t~ ~u~l~•Ltrcln~•» ~•vi~li•n~ed
hi• tl~.it ce•rtain ~~rwniwtiun' nute, uf c~•en date here~~•ith, m1Je b~• tlu~ \I~~rtt;.?!;~~n :in~i j~.~~ ahl~• h~ tiu~ :1..~K~i,iti~w. in tl~~• ~~rini•i~~at
„f TWENTY THOUSAND AND NO/ 100ths----------------------7~„~~_,~, , S 20, 000. 00 ~
•.~hi~•h nutr, t~~t;rtlic•r ~~itl~ inte~rr~t Ihi~r:~un thc•r~•iii s~k•cifir~l, i~ ~~,i~.~l,I~• in ~n~n,thh• inst.~ll~ncnts ~~fONE HUNDRED
SI~TY-FOUR AND 19 / 100ths-----------------------------------------------------
;
l~,Il.~r. ~ c 164. 19
un tl~r 24th d:?~• u( r.ich tnu~~th c~mum•uciii!~ ~~itl~ ~Ct01~ex' 24~ 1971 ~~•hich F~~~mc~its
are to !x• .~pplied, first to iMcrest, and the l~:il:incti~ to princi~xil, until ~aic1 indcbtc~dnesc is ~r.?id in [ull, and shall perform, comply
«•ith :in<1 abi<ir bv cach ~nd c~•ery thc sti~~ulatiuns, a~rrc~nx~i~ts, cvmilitiuns uncl a~~•cn:~nt+ u[ said ~~romisscm• notc and this
mortg:i~e, And, inch?diuG anv ad~•anc^c s made b~• the Assuciatiun tu the \iurt~a~;urs, ur ~Ilt•IC \II(YY•ssurx in title, fur am• j~urposc,
at :ui~• time t~e(orc: the rel~ase• and c:inc~~lL~tiun of ti~i~ m~~rtt;agc~. hut :it n~r tinu• sh:~l) thic me~rt~.e~e sFr~~re- adv.u~crs on :tcc~?unt
of s.a,~l ~~~~~~;n:~l n„c~ t~~,~i~t4~a~r ~~sc1~ .uch .ui~licu~~i.il :uh:u~i,•. ~n :i ,~nn h~ c.cti•.s of TWENTY THOUSAND AND
IV`O/100ths--------------------------------
Z>~~ll:~n !c 20, 000. 00 ~~1~u an~~ acl~:~ncre ncress:?n•
ti~ ~~rutect the• ~truritr anel c:rsts, the•~e this der~l anil the ~~state h~~r~•h~- crr,~t~•~1 .h.ill ce.i~e~ and Ix• null and v~~id. ~
A\D 7'HE \(OIt"IY:ACORS UO h~•rcht• e.~ti•e~n:it?t ai~il .e~;r~~i•: ~
l. Tu ~x~~ :tll :u?d sin~7~Lir thr ~irinci~~al anet iuterrst ancl ~~ther tiurn. ~,f tn~mrt• p.i~~:ible l~~• ~•irt~ie of 1~id ~ruinis,nn• nuti•
.inil this mort~;age, ur either, ~~r~~tnj~tlt~ un the du~'s msE~ecti~•ch~ the scime~ s~~~~t•r:ill~~ canu~ due. ;
1b pa~• all and sin~ular the tases, a~s~•ssmE'nts, leti•iE~, li:ibilitirs, <>bli!~ntiuns a~3~1 inc-umbr:mrt~ of e~~~~r~ nature and kiud '
nu~~• ~~u .,iici d~~.c•rih~Y! ~~ru~x~rt~•, ur th~ii herr.~Rer ~nav be im}w~ed. ,~ifferecl, ~~1:~c~Yl, le~~it~~l, or :ics~~sst~cl therc~m, ur that hema(t~~r
m.~~• l~e 1~~~~ic~cl or :usea.~•d u~xm tLis ~t~rrt~age, or the itidebtedncss s~rur~~l hcre•b~, c:irh :uul ~•~•en•, ~~heu du~• anil ~avabl~~.
.i~Y•or<liu~ h~ L~~.~, }x~(~,m thc~• ix~cY~rn~~ ~lrlinyu~•ut, an~i {x~fure am• intcrrst att:?rh~•s ~~r :~u~~ ~~cualtv is incnrn•d; ancl i?uofar .u
.in~' therc~c~f is oE rerur~t the samr si~atl lx~ ~~rt,tn~,th~ s.itisfieYl artel elurh.~r~~e~el uf r:~itiirel :~n~l th~~ original t~Ffirial dix•u~u~•nt ( suc•i?
1s, For inst:?nrr, the t:~x r~•ce•i~t or thc• satisfuctiun jiaix•r offici:~lh• ~nclor,ed ~~r eert~fi~~cll .h.~ll j~latrd in th~ hands of sai~l
Ass~?c•i:itic~n ;~s \(ort~:i~ee u•it}~in te~n ila~•s next after ~~:i~~~ne•nt; :mcl in tL•~• c~•ent that a~~~~ the~re~~~f is n~,t ~r,iid, satisfiec! and ciischar~cYl,
saiil As~eK•i;~tiun ma~• :tt :111Y t3111C tLt• .anie or au~• t~,irt t6~~reuf ~~~ithuut ~~;?i~~iu~ ~~r aHrctin~ .~m~ ~i~~tion, lier~. e~c{uit~• ur ri~h!
tmder or 6~• ~•irtue uE this ~(c~rt~.?~~c•, and t}tc~ (tiN ;itn~iu??t of e~.irh and ~~~•en ,uch ps~~me~nt ~}~:~ll le~~ iinin<•diati•h• du~• ancl x«:il~lc
; and shall bear inf~~rest frum the ~iate thereof until pui~l at thc r:ite stat<~d in th~ n~~tr ceti•~~rr~l Lr•rch~~ :u~d t~~~~et1?~~r ~cith ~~ic~ inter-
~st sh.ill lx~ seti•urecl b~~ the lien ~~f this ~fort~~;~~e,
To ?.erp thr buildiuKa ai~d all ryuip~nrnt :uul ~~ersonal proFxrt~ no.,• or hrrcafter on saiil ~~remises covered by this mortgage,
iusurrd in a sum eyual to at Ieast the ~mouut ol thr u~on~;aKe, or :?i~ a~nuunt suffi~ient to compty Nith rny co-insurance reyuire-
mrnt co~'rrinK thr same undrr the IaNS of thr ~t.+tr of Florida, co~rri~iK lo,s lrom Iwth firr and s[orm, making the loss under said
policir~s. ea~h aeul etirr~, E~.».ililr to thr .-~cxxiation. .u mortK~};re, a~ i65 111(CiCSI ~na}' appear, aud said insurance shall be i~~ a good
and responsible it~sur:+ncr eomp.ui~ eatisL~ctor~ to ..iid .\~wciatioi~. ,uid wriurn h~ a re-sponsible locaf :iRent satis[actory to said :~sso-
ciation: aud the Fwlii ~ or }wlii irs shall Ixar tit.~n~i.ird mortK.~Ke e l.~usr w itt~out contribution, and. i( ttie oriKinnl principa! amoutu
o( the n~ony;.~kc is E'i(t} 7 hous.ind and no IfN~ Uoliars i55t).OOO.IIA) c~i ii~ rxcess thrreof, shall be hrld by thr Association, and, in
thr eveiit ai» swu of monr~ Ix•~onu~s ~~a~ablr wuler ~u~h fx,licy or ~,oli~ies. the :~sscxiatio~~ shall ha~•e the option to receice and apply
thr ~.,tnr on aceuunc of the indrbte~lnrss here~n ~ccurc~l. or to ~~rrmit thc nzortKaKon to recei~r and use it, or a~~y part thereof, for
other pu~pe~scs. ~.ithuut dirrrb~~ rvai~inK or iiup:~irin~; an~ cY~uit~, tien. or tiKt~t under and bv ~irtur o( this mortgaKe, a?~d may
pface :uid E,.~~ for s~uh iruur.~ucr, or an~ ~~.~rt thrtrof. ~~ithout w:~i.iuk ~r :ifFrctinK its o~tion to forecl~Ke, or anv tight hereunder.
aud thr full amo~nt o( rach and e~cr~ ~u~h p:~~nu•nt +hall tK• inunr~lietrh due and F~avable ~nd st?all txar interest [rom the date
thrrrot until N.iid at thc ratr statcd i~~ thr notr x~urril herrb~ an~l t~cthrr w•ith wch interest shall ?~e secured b7 the licn of thss
~lortgage.
T~~ ~x~nnit, c~~inmit. ur suffrr n~~ ~~;~str, unj~a~rni~~nt ~~r d~•t~•rn~r.itiun ~~f ..ii~l ~~ruE~crt~, ur .urv p.?rt themuf, ;~nd ul~m
t}i~ fuilnre• ~~f tL~• snurt~~.~~~~rs t~i kecE~ the~ huit~fiu~~s ~~n z.ii~l ~~r~~p~~rt~- in ~~xxl c~mcliti~m ~~F rep:iIf. (~1t• :~ss<x~iatiu?? nt:i~• eleniat~d the
imm~Ylc~tr rcj~.i~r c~F s:iicl bu:lclin<~s or thc iu~nu~cli.itc~ re~>a~~rncnt i~f the ~lt•bt h~•n•h~• «~c•isn~l, .uul thc• f:iilurc uf thr murt~;agurs
tu com~~l~ ~~ith saicl c3rmanci of thr :~ss~K•i:itiun fur a j~rri~K1 ~~E 7'h;rt.~ i il)1 cl.e~~s, tihall cunstihtte hre:ich ~~f thi. murt~a~r.
and, at thi~ ~~i~ti~m oE the .-~s~«~;ati~m, imme~ii.,tc•1~~ in.~turr thr f•ntire .:rn~~unt ~~f princiE~al and intrmtt herei»• seci~reY1, and the
:1t«ciati~~n, immecli.iteh• and ~~-ithnut m~ti~~e~. ma~~ in~titu!e Prcx•~~~•~liu~,c t~, fnrt~cl~~sc this rtu~rt~a~o .an~! .~pPh• fnr the .~p~,intment
~~f a Kcre•e~~~r, :~s }irreinafte•r ~~r~~riderl.
~'his mort~*agc crnitr:~ct i~ro~•idc~ for .icl~litiui~.t1 :telt~.juc~•s ~+I~icl~ ~n.eti }x• tita~lr at t}u• u!>liun nf thc :iss~x•i:~tion an~l
ceee~rc•d b~• lhi. mort'a~c~, and it is a~reed that in the r~ent of ~uch .uh•ancrs the a:nount mav tx• :ul~leel t~> thc• mortg:~t;e drbt
.~n~i chall incre.ise the t~nJ~aic: balance ~~f the nute h~rch~• secnmd b~• th~ amuuut oE such .ul~•ance :?nd sh:ill i~ :i Ix~rt uf sai~!
nnte incie~btediics~ under all the~ terms ~~f s,?iel nute and this cuntract :s ful1.• as if a ne«• such n~~le ~nd cuntr.u•t «~~re exiYVtec!
.inci ~1e~icere~l. :ln .ule~itiunal .u1~•:inc•c• a~n•e•tnent rnac hc• ~i~<•n arul :~ecrpte~l /„r .v1ch a~lranm .iu~l rnn•isiun ~n,«~ 1K~ m:ule for
r3iff~•n•nt mont}yl~~ ~r.i~~ne~iits .:r:~1 a diffc•rent intrrest rate~ a~u1 othc•r e~}xrss moclific:itiuns i~f the ec~ntracc, hiit in .+Il~~~ther re,ptYts
ihi: c~~ntract ~6.+11 retnain in lull f~~rc.~ :nicl rff~~ct a~ t~~ said in~l~~ht~~ilness, incli~~i~n~ all ach•.incrs.
6. If a~i~~ ~~f the sums uf mut~ey~ herem refcrred t~ be not promF~th~ znd f~ill~ ~x~i~l ~~ithin '1'hirh t:31~~ da~~s nr~t aftc•r
ihe~ same se~er.ilh• evmie ~l~~e :~ni! Er.n•aoic•, ~ir if e.tch and e~~en• thc~ stiE~ul.itions, a~~rcti•ment, cunilitiunc, an<: c~~~rn:~nts of s.~id
~n~missury ~~~~te an~l this rlet~c~, ur either, are not dtily [ierfonnr~l. c~~m~~licYl «it?~ an~l :ihicled b~•, ihe a~r.~~~.~ oem mentionecl
in wid ~rurnic,~,n r„~te :~r~<1 .?r~r nther amount or arnoui~ts ad~l~~i ti~ the~ mc~rt~~i~e i?~debtedness under tt~e tt~nns o( thic mortt;a~e
shall he~c~~me du~~ :~nd ~x~~•~iblf~ f~~rth«~ith ~r thereaft~ r at the opti~m of the :1ss~~ciah~m, as fulh• :~nd c~~mpleteh• .~s if ..iid a~~~ret;at~•
sum mnne~• ~.ac ~ri~in.?ll~~ st;i~ul.~ted t~~ be paid on such cl:~~•. am•thin~ in said ~romics~~n~ n~~t~ ~~r he~r~•in ti~ thr c-~intr.in• n~tt-
~+~ithstandin~. ~ ~ ' ~
T~~ clclitirr to th,• :1s~~x•iatiun, ~m ~~r lx•f~rce ~I.+rcL 15t(~, nf r:~ch ~r,ir, i.i~ rr~Y•i~~ts r~•i~lr~icint; the i~a~~ncnt uf .iil l.i~a-
fnih• im~wse~d t.i~~•~ f~~r th~• ~~rt•c~•clii~~ c.~le~rnl.~r ~"P:If, t~~ clrli~~er to th.• :Z.soei.~tiun rre~e i~>ts e~~•iderzein~ thc• Ik~~~nent ~f all lit~~s
f~,r public im~~ro~•rnu~nts »•~thin ninrtv {Jt)) ~iavs aftcr the same ~f1aII ~KYti~tu<~ ~1u~~ .~nd j~~•ahle, ancl to P;iv or dischar~e within
ninetv (90) da~•s after dur ~latc~. anr a~?d all ~;u~~:•m~nE~i~t.~l let~i~~s th.?t ma~• be mad~~ ~n? the murt~~.~~e~i ~~n~~x~rt}•, un Ihi~ mnrt~.~~~~
~r ni~tc, ~~r in .~m• uth~•r ~~:i~• r~•~~~Itin~ frnrn th~~ trn~rt~a~;P ir~~iebtt•~{n~~~. ~~rnr~•~l h~ tiiic ~n~~rtG.+~~•.
g~~Kiy6 Pa~E 152