HomeMy WebLinkAbout1465 .it all times ~x•acY~abh' and quieth' tu rii?er u~k~??, 1?uld, ~xrup~• .uid enj~~~• ~ai~l l:~u~l; that ~.~id l.,u~i is he: fiuin .+Il encun~l~ra~icti•s; ~
that thev will make such further assuranees to perfect the fe~e simple titie to said t:wd iu d~e A~.~x•i:?tiun us m.~v rr.s,uu.ibh~ lK•
r~~~~uirc~l; and that they do hereby fupy ~~•arrant the tide to sai~l I:ind :~ud ill de(c•ud tl~~ .:~n?~~ :~;;ainst th~• L~~~ fi~l cLiin~s
..Il ~x~nuns ~chwm~x~vcr. • ;
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PHO~'InED AL\1':11~S th.it if ih~• \t~irt~.~s;ur+ shall ~~cll :u~d trul~' untu th~• A„~xi.~tiun, the• in~it•bt~•cLu•ss ~•vid~•uct~l !
h~~ that crrtuin promisson• uote, of e~•en date here~~•iih, made b• tl~~~ \lortg.?gurs :?nd ~x?~.~ble• tu th~~ .~..~x•iati~~n, ii~ thr lxinc•i~~:~!
.~~m ofTWENTX-SIX THOUSAND AND NO/100ths------~~~~••~""•~U~~IL~rs tS 26~ 000.00
~~hich note, tu~ether ~~~ith interest the~e~~n :is there~in specifir~l, is ~~:?~:?bl~• in mi?nthlv inet:?llmruts uf TWO HUNDRED
SEVENTEEN AND 48/100ths--------------•--------------------"------•----•-----
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th,Il:~r~ (S 217.48 ~
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i111 2?th day of each month ~.~n?mencing ~~'~tl? October 27, 19?1 .~•h~~h ~~•r?,e~~tS
.~re to !x :ipplieci, first to interest, and the balaner to princi~l, until said indcbtedness ic paid in full, and shall perform, eomply
e~•ith and ubide by eaeh and e~•ery the stipulations, ~~rc~cments, conditions and covenants of saici promizson• note and thic
4 tnortRa~e, And, including any ad~•ances made b~• the Association to the \tort~~Gors, or their succesuxs in titlr, [or any purpase,
; :~t anv time before the release and cana•llation oE this mortfi~i~;e, but at no time shall this mortgu~e secure advanc~es on acrnmit
F ~~E ~?id urit;inal note to~ether ~~•ith .«ch .uldition:il ativanc~•s ia a s~un in exc~e~ss of ~WENTY-SIX THOUSAND_ _
' AND NQ/100ths th~ltars l3 26~ 000. 00 ~,1?u auv ad~•uuces neccss:~n•
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` tu prutect the srcurity and costs, then this d~~vl .ind the estate hcreb~~ cm:~tcri sh.?il cezsr and t~e null and ~•oid.
~ A\D 7'HE ~tORTGAGORS DO hcrebv c~n'enant and agrer:
= 1. To ~>a~• all and singul:ir the principal and interest :tnd other sutns of tntmev ~ysble b~• ~tirtue of said pro~niswrv nut~~ ~
x .~n~i this mortgage, ur either, promptly on the cl~~~s respecti~•eiy the same u~~•erally come due.
~ 2. To pa}' a11 and singular the t1[fS, assessments, levies, Iiabilities, obliQatiuns an~i incumbrances of even~ nature and kind
- nuu• on s:iid d~~scribecl ~~m[~ert~•, or that hereafter ~nav be imtwsecl, s~~ffered, ptacecl, le~•ied, or :~ssessed thereon, or tkit here3fter
= n~a~~ be le~•iecl or assc~sc~cl upon thu ~tortgage, or the indebtedness secure~l hemb~•, c•ach and e~~erv, ~~•hen duc and pa~~ahle,
~ .~cxordu~g to l:nc, lxdore thev becumc drlinc~urnt, and i~efore .:nv interest attaches or anv peualfY u incurmci; and iaso(ar as
- .iny thertx~f is oE recurd the same shall he promptl}' s.itisficYl and disch:~r~;f~ci of r.°c~ml and the uri~{inal oEficial document (surh
is, for ia~tance, the hlr rrreipt or the satisFaetion pu~xr offici.ilh• endorseci or certifieJ) shall be plaercl in the hands of sai~
~ .~ssociation as ~lortgaQee ~~~thin ten da~~s next after pa~•ment; :ind in thc evcnt that :?n~~ then~f is not ~~aid, satisfied and discharfiecl,
~ said Associatiun ma~• at anv time tlie s,tme or any purt thereof ~~ithout «•ai~~ng or affeY•ting am• ~ption, lien, ec~uih~ or ri~ht
imder or L~• «rtue uf t1~is \fort~a~e, and t}tr full amuunt of each and rverv such pa~-ment shal~ immediatelv due and [~.~yahlc
.?nd shall be:ir interest frum the date thereof until paid at the r.ite statcYl in the iiutr se~•urecl 6errb~ :ind t~~~eth~r ~~•~th ~uch inter-
<~st shall t~e scrurecl by the lie~i of this `iortgage. ~
3. To keep the buildin~ and all equipment and Fxnonal propert} now or hereafter on said premises covered by this mortgage,
i~uured in a sum eyuat to at Iea~t the amoune o( ihr monq~ge, or an amount su(ficirnt to comply with anY co-insunnce require-
mrnt co~•erinR the same under the law•s of the Statr o[ Elorida, co~~eriuR loss irom both fire and stortn. making the loas under said
_f Ewliiies. ra~h and ever~. pa~able to the ~ssociation. ~s mortRagee, as its incrrrst may appear, and said insurance shaU be in a good _
_ and rrspou~ible insurance compauy satis[actorv to said .-~ssoriation. eud Mriuen by a re~spo~uible local agent satisfactory to said :~sso-
(W11011; dIl(I the policy or poli~ies shall brar a st.~ndarci mortgage ~I-rusr w~id?out contribution, and, it the oriqinal princip~l amount
o( thr mortK~qe is Pittv '(~hous:ind and no I~N? Uollan (s50.000.00) ur in excess thrreo[, shall be held by the Association, and, in '
= thr ecent any sum o( me~ne~ brcomes payablc• under such ~licJr or polii ies, the Association sh~ll tu~•e the option to recei~~e and applr ;
the s:+me on accou~~t of the indebtcYlnrss hereb~ securrcl. or to permit the mortRaKon to recei~•e and use it, or any part therrof, for -
- other purFwze~s, without thereLv M•ai~ inK or impairii~K rnv eY~uitti•, lien. or right under arzd by ~ irtue o( this tnortgagt, and ma}r j
M1`~ place and Na~ for such i~~sur-rner, or anr part thrrroL rvithout ~+ai~inK or af[ectinR iu option to (ottclene, or any right hercunder. ;
and the full amuunt o[ each and e.er~ such p:+~ment shall 1?e immrdiatrlv due and payable and shall bear interest trom the date
therro( until paid at the rate strtecl in the uutr ~e~ured hrreby a~~d tc~;ether with suel~ interest shall tx securcYl by the lien oI this
~fortgage.
4. To remiit, cY~mmit, ur suffer no µ:~ste, unpainnrnt or drt~~nurstiun of s.,id prupert~, or .?nv part thcrec;E, :llil~ u~wn
the failur~ nf the murtfi.?~urs to keep the builcLn~s on said j~ro~x~rtv in ~;~xxl cun~litic~u o( repair, the .~ssociatiun mav ~Irmancl the
~rnrn~~c3iatc rc~Ek?ir of s;~id bu~ldings ur t}u• immecliate m~a~~ment uf tLe ~Icht hert•bv sa•uretii, an~l ihe failure of thr ~n~rtg~gurs
t~~ c~:npl~~ ~~•ith said demand oE the Asuxi.iti~~n fur a re•ri~xl ~~f Thirt~- (,31)1 d.?~•s, shall constitute :i hreach uf this mortRa~e,
and, at th~ ~ptiun of the Acscx~iation, immediat~h• m:~t~ire the entirc~ :im~~unt of princi~l an~l interest heretn• securrd, and the ~
: .~smciateon, immediatcly and ~~•ith~~ut notim, mav instihite procf~f~~l~~~~~ t~~ (urtYlu~ thi, mort~a~e and :~prl.- for the .~ppointment ~
~~f a Recei~'cr, as hereinafte~r provide{i. ~
5. This mortQa~e rnntract provi~les fur ~dcl~tiuuel ad~•ances ~~Li~•h ?n~?~' tx: masle at thc• uptiu~~ uf the association and %
_ serumd bv this mort~:s~e, si~cl it is ~greec~ t}!at iii the e~•ent of ~~+c•h a~l~:+n«~c thP A:nuunt m.~v t~c add~~l to the murt ~~e debt ;
i
an~ shall iocrease the wti~ aid balance of the note herebv seciued bv the amount of such aci+~ance and shall be a Ex~rt of said ~
n~~te indebtedm~sc under sll the ternu nf said notc and this cvntract ss fi~llv as if :i new such nute and centract ~+c•re ea~~c•utecl ~
.,ncl ~leli~•ered. .~n .~d~litional .i~l~•anee as,*rcti•rnerit niac t~c ~i~t•n and aceepterl fc~r suci~ ad~~anee and pro~•ision ~n:?v ~e macie for ;
- cl~ffe•rrnt monthh• ~~a~ments .:ml a diffrrent interest rate and other e~press mcx3if~caturns c~f the am~ract, but in .ill other respc~cts
= ihi: cuntraet ~1~.{ll remain in full fc,ree and effe~et ac t~~ said inelt•bt~Yiness. ineludin~ all advanec~. {
= 6. If anv of the sums of muney herein referrccl to be not promPtk and fulh• paid uithin Thirri• ~ s(t i days ne~t aRrr ;
the s.ime se~er.ilh• c~,me ciue and pa~~able, or if e~eh and everv the stiE~ulatiunc, a~~re~e•ment, conditiuns, and cot•enants of s.?i~) ~
pre~missory nc~te an~l this ~lee~ci, or either, are not duly perforn~ed, cYnnplied ~ith ancl abided b~•, the u~rc~ate sum mentionecl
~n wid prumis.nn• n~~te and am~ other amount or amounts addc~d to the mortqa~c inclebtedness under the t~~rms of this mortQa~c ~
' shaU become clu~ and ~~.~~~~ble forthw•ith or thereafter at the option of the Asscx iahvn, as fullv and c~mplrtelv as if wid a~~rcKatc• ~
~~`y sum of mone~• «•ac ori~in.ilh• stipulatrd tn be paid on such da~•, amihin~ in said ~romisum• ~~~te on c~rein tn th~ c~?ntrarv not- s
,.,~t~~~»a~~?~: " ~
- To deli~rr to thr Asa~ciatiun, on or lkfore ~trrch 15th, ~~f e:ich ~r.ir, t~~ r~reipts evi~leucin~ the ~aJ•ment uf ~1! laN-
fullv im`~~sE~c1 taxt•s for the F~recetiLn~ c.+iencla~ ~~ear, to deli~•rr to the Assc~ciatiun reccipts e~'idencinR th~ payincnt of all liens #
fi?r public im~~rc?vements K•rthin niuety i9U) days after the same shall Fxti~me due :?nd ~arable, a~tiJ to ~y or dischar~e within ;
ninetv (901 da~-s after due ~late, anv and all ~;uremmental levies that ma~• be mad~ ~~n the mort~.~Lrd pro~~ertv, ~m Ihis mnrt~a~e ~
_ nr n~~tc, ~r in am• ut}?er N~:i~~ n•s~~ItinQ ~r~~m thr ~n~~rtKa(~e inclcbttYli~rss srY•~ui•<l h~~ tF~is m~xt~aG~•. ~
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