HomeMy WebLinkAbout0040 .~t aU times peamably and t~uied}' to en!er uExin, hold, ~xrupy :u~d cnj~~~• said l:ind; that s:~id land is frcti ftont all eucun~bratices; '
t}iat they will make such further assurances M perfact the fee aimple title to ~:iid land i~~ the Association :u mav m:?son:?bly lx•
n~quirc~cl; and that they do hereby fully wamant the tide to said lauel-~:*i il~ drfend the samc~ against the l;?~~•(~~I clain~s of
.:Il pcnons ~vho»>soi ver. . .
PftO~'IDED AL\1'~TS thut if the ~lurt~a~;urs shull ~vell and tndy ~:5~• tu~to tl~e :~ssociation, tl~c• indrbtcclnrs~< <•videncecl
h~~ that certain promissory note, of even date here~~•ith, a,ade bv the \tortgagors .ind pa~~able to the Asccx~iatiun, in the S~rinci~~:il
.~?m of SIXTEEN THOUS.AND AND NO/100ths---•------------------ p~ll:~~s ~S 16~ 000. 00 ~
~~hich note, together ~~1th interest d~ercon :?s thcre•in spc~cifiecl, is p:i~•:iblc in munthh• instalf~nents ~~t ONE HUNDRED
THIRTY•THR~E AND 84 / 100ths-------------~------------------------------------
- n~~ll:?n jg 133.84
un the 3rd dsy of rach month ~~~mm~~~~?~?g ..~~ch ' ~~ember 3s 1971 ~•hKh pa~•ments
.~re to be upplied, first to interest, and the balance to principal, until said indebteclness is paid in full, and shall perfotm, eomply
~~•ith and abide by each and every the stipulatio~is, agn•ements, conditions and c~venants of said promissory note and thic
mortgaRe, And, including any advances made by the Association to the \iortgagocs, or thrir suc~c.~essors in titlr, for am~ purpose,
at anv time befom the mlrase and csncellation of this mortgare, but at no tisne s1ia11 this morig:;~e secure ad~~ances ai acrnunt
t~f s.iid ori~inal note together ~vith such additiunal a<Ivances in a sum in exees3 oESIXTE~N _TIiOUS.A].Yl3. AND____ _
NO~l00thS-------------------~----.-----~-- lloll.irs 16~ 000. 00 plus anv advances neccssan•
t~, prutec~t the secutity and casts, then this dcecl aad the estate hereb~- .reatecl sh;~ll ceasc~ and be null and ~•oid. ~
A\D TH~ ~tORTC:AGORS DO hereby cv~'enant and a~ree:
1. To pay all and singul~r the principal at~d ir.!erest and otlier sums of maney•pa}•:zble br ~irh~e of said prumis~~n~ ~wt~•
.~n.l this mortgage, or cither, promptly on the c~a~~s respertively the same scverally come due. ~
2. To pay all and singulzr the taxes, assessments, levies, 1i.lbilities, o~ligativns aud incumbrances of e~•ery nature and kind
,~~»v on said dc~cribed pmperty, or Lhat hereafter mav be imposeti, suffemci, placed, leviecl, or asse.sc~ci thereon, or that hereafter
m z~~ be leti•iecl or assessed upon this ~1ort~age, or the indebtedness secured hen~bv, ~ach and e~~~n~, ~vhen due and pa~•ab1~•,
+~Y~nieuK to ia~.•, ix•fure they become deluxluent, and t~efore anv interest attac6cs ~~r :~n~• peuait}• is inct~rrrcl; and iiuof.+r :u
~n~• thereoE is of reeurd the same shall be promptl~~ satisfieci and clisch:us;ecl of r:eoril anrl thc~ original officuil document (such
is, for ir~ctance, the tax receipt or the wtisfaMiun ~xiper officialh~ endorseci or certificzcl) shail be placed in the hands of said .
.~ssociation as \1ortQa~ee a~-ithin ten davs neit after pa~-rnent; and in the e~•ent that anv therc~f is not l~:?id, satisfie~cl and dischargeci,
~aid 4~sociation muv at :mv time p:?~• ti?e same or any part thereoE ~~•ithuut ~~-aiveng or affecting am• option, lic~~, ~~c;uiir or right
; ~inder or b~• ~~rtue uf this ~fortgugc, and the full amo~u~t aE each and everv s~ich pay~nent shall l~r immc~cliatrlv due and(~.~yab1~
.~nci shall tx~ar interest frum the date tht~reof until paid at the rate statcd in the nule sc~•ureci he~mb~~ :~ml t~~~cther ~~•ith such inter-
~ ~~~t sh:;~! he sccared b~ the lien of this ~iortgage.
~ 3. 'To ketp the baildings and all equipment and penoual property now or hematter on said premixs covered by this mortgage, :
insured in a sum eyual to at least the amount ot the mortgage, or an amount sut[icient to complp with any co-insurance rtquire- ~
' mrnt co~•erinR the same under the law~s of the Seatr oi Florida, co~•erinR toss (rom both firc a~~~ s.a..-... :..:k:;,~ :;e loas undtr sa'sd
~ iN~liiirs, rach and e~~ery, papble to the .~sso.~~tion, as mortqagee, as its interrst may appear, and uid insurance shall be iu a good
:ind rrsponsible insurance company satisfactor~~ to said Association, and written by a responsible local agrnt satisfactory to uid ~1sso-
' <~ation: and the policy or policits shall bear a scandard mongage clause without contribution, and, it tht origina! principa! amaunt
of the monKrRr is 6i(t~ "Thousrnd and no~ IUtt I~Uan (550.000-(10) or ir~ extess thercv[, sha11 !x held br the Associ~tion, and, in
the e~etu ar~y sum of monrv becomrs par~aUle uneter such policY or policies, the Association shall ha~•e the option to rrcei~•e and apply
the ume on account ot the indebtecl~irss hereb~ sec~rrd. or to permit the mongagors to receive and use i!, nr anv ~an thereof. for
' ochrr pur}wsrs, witl~out therchy MaivinK or impairi~iR an~~ eyuity. lien. or right under and b~ ~~irtue o( this mortgage, and may
? place and pa~ (or such insuranie, or any part thrrro(. wit?~out wai~inK or aftecting its option to foreclose, or any right hemunder,
and thr fu!! amount of each a~~d r~er~• such pa}ment shaU t~r immrdiatrly due and payabte and shall bear iaterest (tom the date
thereof until paid at the rate stated in the t~ote secured herrb~ and te~ether with such interest shall be secured b~ tht lien oE this
- ~lortgagt.
; -1. ?o j~ecmit, cr-mmit, ~?r su(fer no ~?•astr, impairment or drtrrioration of xsid prvpert~~, or .?r?y part thereof, and uEx~n ;
; tt~e f3iluro of th~ mort~a~c~rs to keep the buildin~s on wid pn~pert~• in nucxl conditiun of repair, the Association mav demand the
~n,medi:~tc re~k?ir of s:iid buildin~s or the imme~cliate mp;i}Tnent of the deUt hcreby secure~l, anJ the failure of the ~nortgag~rs
' t~~ evmplv ~+•ith said demand of the Ass«•i:?ti~~n for a~x•ri+xi ~~f Thirt~~ (30) ~la~•s, ~hall nmstitute• a Urcach of this mort~a~e,
; .ind, at th~ ~pti~~n o( the Acsociation, immecliat~l~~ maturc• thr entire am~~unt of prineipal and interest hereb~• secured, and the
~ ~1cc~ciation, immediately and with~~ut notice, mav institute proc~r~i~nrt~ t~~ inreclosc~ this fi1nY~~1QC and applz• f~r thF ;~p~~intme~nt
~ ~~f a Rerei~-er, as hereinafter rmvide~l. ~
' S. This mortQage contract provides fur additi~,u.~l advauc~~s ~ hich cn~~~ t~ maclc~ at tlie ot>tiun of the assoccition and
a~eumd by thic mort~age, and it is agreed that in the event of such a~l~•anc~•s the amount may be addec~ to thr mortKa~e debt i
.ind shall increase the w~paid balance of the note hembr sec~~red by the amount of such advance and sh:ill be a~~rt of said
' note indebtecln~~sc imder all the terms ~f taid note aml this rontraM as fullc as if a ncw~~ s~~ch note and cv>ntract .~~~re executerl
t ~n~i ~leli~-erecl. :1n .~dclitional a~ivarxr a~,*reetne~~t ma~~ lk: gi~•~n ~nd ac<rpted for sueh advanee and pmvision ~uav Ix• made for
fiifft~n~nt monthh• ~:~rments ~n~! a different interest r.ite and other ~•~press modificatiuns of the contract, but in atl~~~ther respc•cts
~his c~~ntraM sl~.~ll rrmain in f~~ll force and ~~ffect as to s:~id indi•bte•dness. inducling all advances.
~ 8. If an~• of the sunis of money herein refertcd to be not prompth~ and full~• paiei w-ithin Thirt~• ( 3(1 r days nr~t ahcr
tt?e same se~•eralk cnme due and pa}•able, or if each and everv the stipulations, a~n~e•ment, cunditiuns, and c~venants o( s;iicl
pn>missory note ancl thit ~leeci, or either, are not duly performt~cl, cumptieci w•ith and abided t~y, tF~e a~regate sum mentionecl ?
in said prumis+urv i~ute and arn• other amount or amoi~nts addeci to the mnrtgaQe indebtedness under the trrrr?s of this morty,agc
shall beco~ne ilut- and }~~'ablc f<~rthwith or thcreafter at the optiun of the Associ:?tion, as fullv and c~mplrtel~• as if said a~~rcgati~
.um oE monev ~~~as oriQinallv stipulated to be paid on such da~•. an~~thinQ in said promissorv n~te or he•rcin to th~ cY~ntrarv ~H?t-
wit}utatxling. " ' -
To deli~er to the Asu~eiatiun, on or before ~t:+rch lith, of each ce~r, taa reeeipts evicieneing the pa~~rnent of ail 1a~c-
- fullv iu?~x lSf(I l'1Xes for the ~~recectinQ c.ilemi:~r ~•ear, to deiiver to th~ Asxx~ia;ion rercipts rvidencinQ the~ payment of all liens
for ~public impro~~ements H•ithin ninety (9()) days after the same shall t~cxY~mc ~iue and ~ayable, and to pay or discharRe within
ninetv (90) da~~s after dup datP, anv and all ~nven~mental levies that may be made on the mort~a~ed prupertv, ~?n thic mort~afiF
~~r not~, or in am• other ~+•av resnltin~ fmm tlie neurt~age indel~trelnrss scr~u~Yl t?~• this m~nt~:~~r. ~
600K 19 1 PACE ~