HomeMy WebLinkAbout1795 .at aU tinu~s ~acY~~bh• vid tiuictl~• to r~~!er u~wu, huld, ~~cx~u~»' ~ncl rnj~n• s:u~! Luicl; that s.iiti l.iu~l is fr~~• fi~~?n :?11 rucun~braucY•s;
thut thcy ~~•ill make such fu~ther assurances to p~rfect the fee simplc iitle to s:iid land in the A~.~x•i:~tiun as ~nav ~~~asonably lx•
r~ ~{uired; ancl that they do hereby ftilly warrant the title to saiei lau~i anel ill .lidcnd the same~ a~:?i~~st tt?~• Ci~~ ful ci:~iin~ of
.:Il ~x•nuns ~chu~us~x•vcr. .
PRO~'IDEU AI.\1':~1'S th:it iF t6c \1urt~a~urs sh.~ll ~vell :ind truh' i~:?v unto tl~r :1,.~h•i.~tion, the• imirhtc~dn~•ss ~•t•itlrured
1,~~ that ~~rtain promiswry note, of even date 6ere~~~idi~ made b~• th<< \tortgu~;ors aru! ~>;~~;eblr t~> the~ .a+,~x•iatiun, in th~• rri~~ri~x?)
.:,m oE FOURTEEN THOUSAND AND NO/100ths-------------------~~„~~,,~, ~g 14,000.00 ~ '
~~t?ich note, t~~~ether ~~•ith intPrest ther~un as ther~•in s[x•cifi~~cl, is f~.+~~ahle~ in munthh• inst:ilhnents uE ONE HUNDRED
SEVENTEEN AND 11/100ths------------------------------------------------
lk~it_~r~ (S 117. I1 1.
November 7, 19? 1
~~n tiie 7$rl day of each tnonth c~e~n?mrnt•in~ ~~~itls - _ _ ~vhirh pa~•meuts
~re to be ;~pplied, first to interest, and the Ualance to priiicipal, ~uiti{ said indcbtedness is ~kiid in full, and shall perform, comply
ith and abide by eaeh and e~•ery the stipulatiuns, agreemeuts, c~nditions anci a?renants of s:tid ~~rnmisson• nvte and t?~is
~nortga~e, And, including any acl~•ances made b~• the Assc?ciation to the \tort~a~ors, or their successors in tidr,~for anv purpose,
:~t anv time before the rc~lease and cancellation ~~f this moriga~r, hut at no timr shall this mortga~;e secure advances on acc~~unt
+.iid uri~~inal note together ~~•ith su~•h a~lditiun:il advancti•s in a+um in excrss of . FOURTEEN THOUSAND :
AND NO/100ths---------------------- Uoilars ;g 14, 000. QO Ph~s am~ adt•~~nces neressan-
t~~ ~irutec•t the s~~c•uretv and casts, thrn this deed :incl the estate hereb~• cre;it~Yt sh.ill cease anel be null and roicl.
A\D 7'HE 1fORTCAGORS ll0 hcreb~~ cu~~enant and xgrrr:
1. To E~y a11 ancl siu~~lsr the principal and interrst ar.d other siims of monrv pa~~able U~- virtue~of saicl prumis~eorv not~•
F ~ucl this mortgage, or cither, protnptlv on the da~•s respectiti~elv the same se-~~~rally come due. - ~
_
t 2. To pay all and singular the taxes, assessments, levies, liabilities, obli~atiuns an~i incumUrances of even~ nature and kind
nu~~• on said di•seril~ecl pmpert~~, or that hereafter ~uay be im~wsed, wfferecl, plac~~cl, levied, or assesseci thereon,~or,that hereait~r ;
_ rna~~ be le~~iecl or asses.tic~cl uEwn this \tortgage, or the indebtedness securecl hemb~•, r.icli and e~•en~, wher! due and payable, ~
" .,crordiug tu I.i~~•, lx~fore thev :x•come (~Clltit~tlent, ;ui~~ 3>efure an~~ interrst attaches ~~r :u~~• peualty is incurmci; and i~uofar i
.tnr thereoE is oE rea~nl thc same shall l>e prompth• satisficYl an~l clisch:~r~~~cl of r.~>rd and Ihe ~~riginal official documcnt (surh ;
= is, for inctancr, the t:ir recript or the G?tisfaction liapc~r officialh• enclorsed or certified~ shali f>e tilamd in the hands of ~:sid
_ :\ssociation :is \tort~a~ee ~~•itl~in ten da~•s next after Pa~•ment; ancl in ti?e e~•ent that ;?nr therc~of is ~iot p.~id, satisfied and disehar~ecl, ~
= .:iid Ass~x•iation mu~- :?t anv time p:t~• ti~e sa?ne or aii~• part the~reof ~~-it6out ~+ai~~ng ~~r aFfrcting a~~v optirn~, lien, equih• or ri~ht ~
~r under or 1»• ~•irtue of this \iortfi.i~c, and the full amuunt of c:ich _anel e~~en- such ~~a~•ment shall Ue immrdiatclv due and payal~(e
and shall tx~.~r interrst from the iiate thereof until ~iaid at the rate~ statE•d lll t}IF hU~f• SfY'llft~d frerei?c and t~~gethFr ~.~ith si~ch inter•
~~:t sh:?11 he sccured b~• the lien of ihis ~iortgage. `
_ fi
To keep the buildinKs a~~d a? ec~uipment .uid personal propert}~ now or hereatter on said premises covered by this mortgage, _
iusureci in a sum c~e~ual to at Irast the amouut o( the mortKage, or a~~ amount sulficie~?t to comply with any co-insurance requim- ;
~nrnt ro~rriop the same widrr the law~s ot the >tatr of Florida, coa~eriuR loss from both fire and storm, making the loss under said
:':'s Ex~li~irs. ra~h aud r~ery, pa~able to the Asso~~ation. .?s mortKaqre, as its i~~trrest mav appear, aud said insurance shall be iu a good
:+nd resE>ot?sible inwrnuce ~ompau~ satis(:?~torv to said .~ssociation, and writtrt~ by a responsible local ageru satesfaetory to said Asso-
ciatiou: and ehe Ewlic} or ~OI(UCS St13II I~3f :l stao~lard mortg:~e clause without contribution, and, if the oriy,inal principal amount
_ of the mortKaKe is Fi[[~ ~Thousand and no ItN? 1)ollan (S50.1N10.00) or in excess chereof, sha11 be held bv the .~lssociation, and, in
thr e~rnt an} sum ot mone~ becomrs pa~~b(e undrr such pc~licy or polieic~s. the Association shall ha~-e the option to receice atzd apply
thc iame on account of the indebatiG?rss herrh~• securrci. or to permit the mortR-aRors to receiti•e and use it, or any part thereof, for
~ othrr purExisrs. a~itl~out therebv wri~inR ~r iinpairin~ an~~ eyuit~, licn, ot riqht under and by ~irtur of this mortgaqe, a~~d may
~ placr aud pa~ for such insuraucr, or an} part tl~rreot. ~.•ithout wai~inK or af[rctinR its optiai to foreclexe, or any right hereunder,
aud the tull amouut ot each aud ecer~ such pa~rnent ahall be immr~fiatrl~ due and pa}able and shall bear interest from the date
therrot until paid at [he ratr stated in tt~e notr se~ured herebr 3nd ce~ethcr with such intetest shall be securecl by the lien of this
_ ~(ortgage.
To Perniit, ecmmit, ur sidfer nu ~caste, vnpairme~~t c~r <Ic•tenur,itiun <rf s.+id proi~ert~, oc :~i~y part the•reof, and ~~Ex~n
the f:iilum of t}ir nt~?rt~;a~urs to kecj~ the buil~lin~s r>n ssicl }:n>~~rrh• in ~axl cnnditiun uf repair, the Association maV dcmand the
xj i~nm~~cliate re}iair oE said bu~l~lin,R,s c~r thc~ immedi;ite mpa~Tnent uf the ~lebt i~~•reb~• ~~rurcYi, :?n~l the failure ~~f the ~nortgagurs
tu eomEzh ~~•ith said demand of the ~ssoci,?tiun f~~r a~x~ri~xl of Thirt~• (30) cl:~~•s, .h~ll ee~nstitute hreach of this mort~a~e,
~ and, at th~ ~pti~m of the Assa~iatinn, immecli:itei~• m;iturc~ the• c>ntim ::m«imt of ~rincip~) ar?d intrrrst hemb~~ secured, and the
_ 1cc~ciati~in, immediatcly and ~~~ithout noticr, ma~• institute pmcf•c~iin~. t~~ f~~rcYlnse this m~rt~a~e .~nct appl~• fi~r the appointment
_ ~~f a Rec~i~~er, a~ hereit~after prm•idecl. ~
This mortqa~e contract ~m~•ides for :idclitiunal aci~•:~nce~s ~~LicL ?n.,~• be ~naele at the uptiun u( the :~ssoci:ition and
.ecured bv this mort~age, and it is agrced that in the e~~ent of such ad~•ances thc~ a:nount mav be adde~l t~~ the mortt~at;e debt
:~tid shall incre.ise the uii~id balance of the note herebv secured b~• the amnunt of suc?~ ad~•ance and sh.ill be a part of saiil
_ n~te indei~tedn~•ss uncter all the terms ~~f S:lll~ noie and ~this eontraet as fullv as if a new~ such note and contr:?et ~~c•re exe~cuted
:intl ~leli~~ercd. .~1n .idditional :~~1~•ancc at;re~~rzic~~t ma~• iie gi~-Pn an~l acceptc~! 6:~r ~t~ch ad~~ance an:l piot•ision in.~~• bc• made for
= cl~fferent munthh~ ~r,~~ments .:nd a diffrrent i»trrest rat~~ and other e~press malific:itions of the contrac;, hut in :~11 other resJ~e~rts '
_ ~hic enntr:~M sh.all remain in full force and effeet as tu said indebteclness, includinQ a11 ach~ancrs, j
` 6. If am~ ~f the sums of muney herein referred to be not promrth• anc~ fu1lv paid Hithin 'i'hirt~~ (:i01 cia}'s nr~t aFter
_ the same se~~er:iih• c~~me due and pa~;zble, or if each and even• the sti~~ulatinr~s, a~rcrmrnt, concliti~>ns, <~nd cy~vcnants of said
prumissory note a+ecl ihis ilced, or either, are not duly performcd, compliecl ~~~ith and abidecl by, the aggregate sum mentioned
^ said pr~~miss~~n• nute aud an~• other amount or amoiints added to the mort~.~~i~ indebtedness tmder t}ze tem~s of this mortRage I
shal! bccome due .ind p.i~~zble forthµ•ith or thcreafter at the option of the ~?swciation, as fiitl~• and completeiv as if said ag:;re~;ate
~ sum of monev ~~•as originallv stipulated to be paid on such da~•, am~iher?~ in said promissorv n+~te nr hrr~in to the contrarv nut- ~
- ~~ithst:uidu~g. ~ " -
: To deli~ er to thc~ Asurciati~m, ~~n or Lefore ~larch 15th, ~~f cach ~ ear, t:is receipts evidencing the pa~~ment uf all laH - t
- ful)v im~ xc~cl taxes for the ~~receding e.?lenclar ~•ear, to deliver to the :~ssociatiun receipts evidencin~ ihe pa~~nent of all liens
for public impro~•ements ~ti•ithin ninety (90? clays af!er the s~zme shall hecr~me dur and pa~~able, and to pay or discharge w-ithin ~
ninety (90) da~-s aker due date, am~ and all ~;o~•emmental le~~ies that mav br ~ns~~r ihe mort~;ieeci prupert~~, on thic mort~:i~e•
~r not~, ur in un~- ~Kher K-a~• rc•sultin~ fmm thF rnurtQa~e indebteclnr~ss securr~l hti• fhis m~~rtQa~~•. ~
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