HomeMy WebLinkAbout2580 at all timcs pcac~cably and quiedy to rnter uEx~n, hold, ocru~~y and cuj~~~~ said 1.?ud; tlwt s.?id lauJ is frc~ f~om ull cncumbrances;
that the ~vill malce such further assurances to perfect the fee simplc title to said land in the Aswci:?tion as ma~~ reaso~i:?bly lx• ~
rc~c~ui~ed; and that they do here6y Eully warrant the title to said land and ~~•dl drfend the same ag:iinst thr 1:?~~ful el.~ims of ;
:;li lx~nons ~~•I~omsoevcr. `
PKO\'IDEU AL~~'~1YS th:it iF the \lurt~:~~ur~ shall H~ell and tn?ly p:a~~ w~to thr ~1ss~x•i:~tion, the in~lebt~Ylurss r~•iden~x~ci t
by that certain promusory note, of even date herew•ith, made b~' the \lortga~on and ~;~~:ible to the Asux•i:~tiun, in thc~ Princ•i~~:~l
.um oE'rwENTY-ONE THOUSAND F~VE HUNDRED AND NO/100-----1~,)I:?rs ~S 21, 500. 00
~v}~ich note, together ~~~th interest thercon as thcrcin s~ecified, is p:?r:~bi~• in monthh• inst?llmcnts ~~t TWO HUNDRED
TWQ A~ 3$/1QQ---------------------------------------------------------------
1h,11:~~ ~S 202.38 ~
un the 2nd day of each month cY~mmcnciiig ~vith December 2+ 19~ 1___ which pati•ments
.~re to be applied, first to interest, and the balance to principa{, until said incicbteclness is paid in full, and shall perform, comply
~.•ith and abide by cach and e~~ery the stipulations, agreements, conditions and cvvenants of s:iid promicsory note and tliis
mortgage, And, including any advances made Uy the Association to the ~lort~agors, or their suceessors in tidr, for an~~ purpose,
at anv time before the mlease and r.?ncellation of this mortgu~e, but at no time shall this mortgafie secure ndvancrs cx~ acrnunt
~~f wid ori~inal note together with such additioual :id~'ances in a~aum in excess of TWENTY-.ONE THf2IJSAI~TI~_
' F`IVE HLJNDRED AND NO/ l OQ- - - - - - - - - - - - -Uoliars ( S 21 ~ 500. 00 ~~us anv adv:inces necessan-
tu protect the security aitid costs, thrn this deed ancl the estate hereb~• created shnl! cea~ce and be mill and ~~oid.
A`D THE \tOR1'GAGORS DO hereby eu~'enant and agree:
E 1. To pay all and singular the principal and interest and other sums of m~ney p:~~~sbie b~• virtue of said prumicton~ note
; .~n<I this mortgage, ur either, pmmpdy on the cla~s respectively the same severally come due.
S 2. To pay all and singular the taxes, auessments, levies, liabilities, obligatiuns and incumbranc~~s oE even• nature and kind
~ nuH• „n s:iid deseribeci pmpert~, or th.?t hereafter mav be imposecl, suffered, plaeecl, le~~iecl, or ascessecl thereon, ur that hereaEter ~
: m.?~• be le~•iecl o~ assessecl upon this ~tortgage, or the indebtedness secured hereb~•, cach a~~d e~•en•, ~~•hen due and pati:iUle, ~
~ ,?ccordu~g to la~v, bcfore they become delinqucnt, an~l before any interest attaches or c:n~~ ~x•ualty is incurmd; anci i~uoE~r :?s
.?nv thereof is of recwrd the same shall be prompth- s:itisfieci and dischar~ed of recc~rd and the original official documrnt (such
is, for i~LCtance, the taz receipt or the satis[action paper officialh• enclurseci or certified) shall be placrcl in the hands of said
Association :~s itortGagee w-ithin ten da~•s next after pa~-ment; and in the e~•ent that any therec~f is not paid, satisfiecl and dischar~ecl,
said Association ~na~• at anv time p:i~• tl~e same or any part thereof ~~~ithout ~~•aiving or af[ecting any option, lien, ecluih• or right
under or b~• ~irtue uf this \lortga~e, and the [ull amount oF each and ever~• such pa~~m~nt shall br immeciiatelv due a~?d ~:eble
~ .ind shall bear interest from t}~e date thereof until paid at the r.~te stated in the note se~•ur~~cl hereb~~ and to~ethPr ~cith suc~int~•r-
~~st shall l~e secured bv the lien of this ~loctaage,
~
3. ?o kcep the buiidiugs and all equipment and penonal property noM ar herea[ttr on said premises covered by this mortgap,e,
~ i~uured in a sum eyuai to at least ehe amount o( thr mortgage, or an amount sufticient to comply with any co-i~uurance requim-
- ment cn~~ering the same under the law~s of the Swtr oi Florida, co~•ering Iws from both fire and storm, making the loss under said
Fwlicies. eaeh and ecrry, payable to the Association. as mortKagee, as its intrrrst mar appear, and said insurance shall be in a good
and responsible inwrance company saeis[actorr to said Association, aud w•ritten by a responsible local agent s~tistactory to said Asso-
ciation: and the polir~ or policies shaU bear a st.~ndard mortgage elause Mithout convibution, and, if the oriRinal principal amount ,
;t of thr ~nortKaRr is Fitt~• ~Thousand and uo! IINI l~llan (550.000•00) or in excess thereot, sh~ll tx held by the Association, and, in
-i the r~rut an~~ sum of money becomes payable uuder such policy or policies, thr Association shall have the op~ion to rrcei~•e and apply
~ the s:ime on account ot the indebteclness hereb~ sr~urrcf, or to ~rmit the mortRagort to recei~•e and use it, or any pan thereof, for
~ other purposes. without thereby wai~inR or impairinR any eyuity. lien. or right under and by ~~irtue o[ this mortgage, and may
~x place and pa~ (or such insurance, or any part therro(, without wai~inK or a(fectinR iu option to (orrclose, or any right hereunder,
aud the full amount oE each and e.en~ wch pa~ment shall be immediatrly due and payable and shall Ixar interest from the eiaee
cherrof until paid at the ratr statecl in the notr secured hereby and togethrr wieh such interest shall tx secureci by the lien o[ this
~(ortgage.
_ T~o ~ermit, cr.mmit, ~~r su((er no ~~aste, unE~airment or drtenuratiun of ~ici prupert~~, or .iny ~~.irt therevf, and u~xfn
the Eailure uf the mort~a~urs to kecp the biiildings on saiJ propert~ in gaxl condition of repair, the .~ssociatiun mati• demand the
iinmecliate reEkiir nf said bu~ldin~s or the immeciiate re~~Tnent of the debt herebti~ scY•urc~1, anel the failure uf th~• rnortfiagur~
tu complv ~~•ith said clemand of the :~ss~xiation for a ix•ri~Kl ~~f Thirt~• (30) d:~~•s, shall cuustitute a breach of this mort~a~e,
and, at the o~ti~n of the Assaciation, immecliateh• m:~ture the entire arncunt of princi~l and interest hereb~• securrd, and the
Acu~ciation, immediately and ~~•ithout notiee, mav institute pmef~e~iin~c tn forec•luse this mortQa~e and apph' G~r the ap~>intment
~~f a Recei~•er, as hereinafter prm•ide~l.
- This mort~afie rnntraci provides for additi~m~l a~~•aur~~s Hhich mav be made at the uptiun ~~f the uss~xiation ancl
- ~ecured bv this m~rt~~ge, aiid it is agreecl t}~at in the e~~ent oF such advances the amount may be addc~cl to the mortK:?t;e debt
. and shall incre~se the unr:iid balance of the note hereb~~ secured b~• the amount of such advance and shall be a Fx?rt of saiel
- - '
nnte indeUtednes~ under all the terms ~f said note and this contract as fully as if a new such nute and contr.ict .~~•re ex~rutcvl
.~ncl ~lelit-erecl. An :idditional advancr a~reFmcs?it rna~• tx~ ~;Gi~'en and accepted For such ad~~ance and pro~~isic~n n~.i~• ~r m.~de fur
rl~fferent monthh• pa~?nrnts ;:n~l a different intrrest rste and other express malificstious of the amtract, but in .~ll~~~ther resJ~c•ts
_ ihi. c•ontr:iM shall remain in full farce and cffect as to said indebtedness, incluclin~ all advances.
6. If am• ~f the sums of money herein referrecl to be not promptl~~ and fulk paid ~~•ithin Thirt~- i 3l! ~ da~•s nrxt aRrr
t!?e same se~~er:~ll~~ cY~me due and pavable, ur if each and even~ the stipulation., a~r~ti~ment, conditiuns, and cYivenants of wic)
- pn~missory note an~l this dced, or either, are not duly perforn~ed, ccnnplied K•ith and abidecl by, lhe aggre~ate sum mentioned r
- ?n said promics~~rv note and am• other amount or atnounts added to the tnortgage indcbteclness under the terrns of this mortQa~e
; shall bccome due :~nd ~~'able forthw•ith or thcreafter at the optiun of the Associ:ttion, as Eullv and completeh~ as if suid a~t~rc~~t~•
sum of mone~• ~~~as ori~inally stipi~lated to be paid on such da~•, an~~thin~ in said promisson~ n~~te nr herein to thr cYintr:lR' tl(1~-
K'11 }1St311(~ l Il " - .
To deli~er to the ~ss<~ciatiun, on or lx~fore ~larch 1ith, ~~f cach ~r.?r, tax rec~eipts evidencin~ the payment uf all l:~v?- {
fi~llv imExnc~cl t:~xes for thc ~reccdinQ c.~l<~n~iar ~•ear, tc~ deliver to the Association reccipts evidencinfi th~ pa}-mcnt of all liens
fnr public imjuo~•ements ~rithin ninety ~90) dsys after the same shall heromc due :~nd pavable, and to pay or discharRe within
_ ninetv (90) da~~s after due date, a~»~ and all ~;u~~ernmental levies that mav be made un the mortgaEecl pruperty, on thic mrrrt~afie•
~r ncitc, ~~t in am' ~~ther a•sr res~ilting fr~~m the inurtt;age indebteeL~~•sc secumci b~• this mcMQ:~~~•.
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