HomeMy WebLinkAbout1501 , ~i ! ~ ~~S5
~ o~tgage
' THtS MOATCACE IhDENTUHE, rxecuted by the Mortgagor named in paragr~ph 26 bclow, which term as used
in every instance shall i~clude the ~lortgagor's heirs~ executors, administrators, sutt~essors. legal representatives and
assigns, either voluntary by art of the part~es or i~voluntary by operation of law and shall denote the singula~ and/or
plural, and the masculine and/or feminine and natural anJ/or artiBria) persons, whe~ever and wherever the context so
requires or admits, parties of the first part, to ~VASHINGTOh FEDEHAL SA~'1NCS AND LOAN ASSOCIATION
OF AlUMI BEACN, a corporation existing unJer thr lu~~•s of thr United States of Amrrira, hereinafter callecl the
~tortgagee, which term as usec! in e~•ery• instance ~I~all inrludP the '~fortgagee's sucYessors, legal representatives and
assigns, party of the second part.
~t'IT~i ESSETH, that for div~•rs Kocxl and valuahlr c~msidrrations, and to srrure thr payment of the a~;regate sum
of money named in the promissory note of i•~~rn d.~tc• hrrc«•itl~, I~ercinafter mentionrd, together with interest thrreon and
all other sums of money secured hrreby a's here•ina(te•r ~~r~~~icleKl, thr !?tortgugor dors grant, bargain, scll, alicn, remise,
releasr, convey and c~n6rm unto the '~tortb:~~;r~, in Frr .imple•, that c~ertain real estatc, of which the ~tortgagor is now
seized and possrssed, anJ in xrtual possrssion, situate as d~•scribecl in paragraph 2T brlow.
TOC~:THER with all furniture, Eurnishings, futures, goods, equipment, and inventory, together with any proceeds
thereof and any replacements thereof, which are no.v or may hereafter be located and situate on the property described
in paragraph 2? below, and all structures and improvements now and hereafter on said land and the fiatures attached
thereto, also together with all and singular the tenements, hereditaments, easements and aQpurtenances thereunto belong-
ing, or in any ~~~ue ap~ertaining, and the rents, issues, and pro6ts thereof, and also all the estate, right, title, interest and
:?ll claims and demands whatsoe~~er, as well in la~v as in cquity, of said Mortgagor in ~nd to the same, and every part and
parcrl thereof, and also all gas and electric fiatures, radiators, heaters; air conditioning equipment, machinery, boilcrs,
r:~nges, elevators and motors, bath tubs, sinks, water closets, ~•ater basins, pipes, faucets, and other plumbis~g and heating
fixtures, mantels, refrigerating plants and ice boxes, window screens, screen doors, venetian blinds, storm shutters and
awnings,~~~hich are ~w or may hereafter pertain to or be used with, in oron said premises,even though they be detachecl
or detachable, are and shall be deemed to be a part of the realry.
TO HA\'E A~D TO HOLD the property dc•srribed herein unto the Ltortgagee, its sutt-rssors and assigns forever.
The rlortgagor hereby covenants w~th the \tortgagee that the Atcxtgagor it indefeasibly seized ~vith the absolute and fee simple
t~tle to said property, and has full power and laNiul authority to sell, convey, truufer and mortgage the same; that it shall be law•fu! at any
time hereafter for the 1~toRgaRee to peaccably and yuietly enter upon, havc, hdd, and enjoy saicl pmperty, and e~-ery ~art thereof; that said
property is free and ciixharqed f~vm all liens, encumbranees, and claimc of any kind, includinR tauc~ and aue+.ments; and that the I?fottgagor
hf~reby (ulty w•arrants unto the \tortgagec the title to ~:~id propeny and ~~•ill defend.the samc a¢auut thc laWiul claims and demandc of all
~x~rwns Hhomwever. This instrument also creates a security intere~t in fa~ror oE ~ldrtgaQee undrr the Fk~rida lJniform Commemia! Code~
and MortKaRee shall alsu have all rights and remedies of a secvred pirty under the Florida L'niform Commcrcia) Caie, and without Umita-
t~on upw~ or in dero~atan of the rights and remedies creatcd under a~d attorded rlortKa~tee by thii moRKaKe punuant to the common law.
~~r any uther law~s, of the State of Florida or of any cither juricdicticx~, it I~in undent~wd that the ri~:hts and ~ernedies of \IortgaRee undet the
F~lorida (Jniform Commercial Code shall Ix cumulative and in aJdition to a~l iKher riRhtc and remeylies of !?fortKaQee arisinA under the com-
mon law, or any other laws, of ihe State oF Fbrida or of any other jur~~dicteon. ,
\O~~', TI-IEREFORE, the condition of this mort~age is ~uch that if the I?1urtKaRor shatl wcll a~J trulypa y unto t6e 1fortQagee, the
indr6tcYlnesc evider?ced by that certain promissory note of e~•en date hcre~aith, made by the ~lortgaAor and payable to the ~IOft~:IF;IY', in th~
pnn~ipal wm set forth in paragraph 25 below, toQether w•ith interest as themin'stated, ancl shall perf~um, comply with and abide by each and
~~~en• the ~tipulations, aArerments, conditionc and eovenants eontainecl and set forth in thi~ mortRaKe and in the promi+,on• note securecl hereby,
then this mortQaQe ancl the estate hereby crcated shall eca~e a~d he nuD and ~•oid.
A\D the 1?1ort~a~or does hereby covenant :~nd a~ree: ~
1. To perfortn, romply with and abide by raeh anc! evrry the stipulaGum, a?~rrements, iondrtiom and rnvenants containecl ar?J ~et
furth in said promiasory note and thi~ mort~a~c derJ_
2. To permit, commit or suNer no ~va.te and to maintxin thr improvemrnh At all time~ io a statr of ~~1 rrpair and cor~dition, and to
~lo or permit to be do~e to wid prrmi.~~. nothinG that will alter or chany~r thr u.e and ch.~ncter of u~id property or in any v~-ay impair or
«eaken the xcurity of this mortRa~e. In ca.e o~ wa~le or 1he ndu+:tl, ne~l~~at o~ inahility of the \tortRa~or to repair anJ m iintain ~aid prop-
e•rty, the 1?1ort~aQee may, t its optioo, make .uch r~•p.~ir. or cau_.r the .ame to be made, anJ advarn~e moneys in that behalf, and all .uch
' rrx~nies shaU be secured b this mnrt~a~e and .hall I~e immcYliatrly Jue and payxble to thr I1iod~a~ee.
~ 3. To pay all an sin~ular the taxi~, a..r..ment., 1~•vii~, liab~litie., anJ obli~;ations d every naturr on said dexriF?ecl pmperty each and
i r~rry w•hen due and pa ahlr acrordiny~ to lave. Ixdom fhry Mtinme clelinqnent. Tnd to deliver to the A1ort~a~ee on nr bef~m March l5th of
! ich year ta~ n~~eipts rviJenrin~ the paymrnt of all 1:?Wfully impo~eYl taxe. for the preerclinq talendar year, to indemnify the I?1out~a~cr
~~~x~n it~ drmand for aU ta~ce~, a~+e~~menh and ch:u~e* that may be ac~e~.re) upnn thi. mort~aRe or the indebteclne+. +ecurecl hrreby, and paid
~ hy the l~tnrt~;a~ee, without reRard to any law hereto(ore ~naetrd or herea(ter to be rnacted imposinA payment oF the wFx?Ie nr any part thercrt
~~~Hm thi• \lort~ay;ee; and top.~y the cost of 61in and recordin~ co~tinaation statements respecting this mortgage pursuant to the Uniform
(:~~mmercial Code and any other Sling and reco~og charaes requited thereunder, and to pay, in the event of any transfer oE titleof the tl
ti~rrmi.c~ encumbeted hereby. lhe charges atsessed by I?toRgagee for re8ecting such transfet in its reconls.
4. If a rnnveyancr sMw1J be made by the MortQaRor of the pmmi~e. hereit~ described, or any part hrrcr~f, and thr Rrantee namnl in
.uch rcxrveyance fails or re(usec to awcumr thr naymrnt of the obli~:~ti~ evidenrni by ~aid promis.ory rn~tr and .eevred hy thi. mnrty;at~e,
.~nd i~ acYOrdaixe with thcir re+prefivc terms, thrn and in that rvent, at the option and upon the demancl of thr I~tort~aAce all .um. of money
.ecurrd hereby shall immediately bec+~me fodhw•ith due anci payable. _
5. In the event of a wit 1x~iny; i~.titutec~ to fonY•~a~r thi. murtl;ay;e, thr 1?tortRaKre +hall be entiN~~l to apply at any timi• ~xndin~ wch
f~~rrclo~urc wit to the court havin~ juri.<liction therrc~f foz thr appointmeot oF a receiver oF all and .in~ular tFu~ rrNxtRa~c~l property, and of atl
rrnt~, income., proSt., iw~ues and rrvenur~ thereof, trom w•hat.orvrr .nurcr derived: anel thereupon it i. hrreby e:prrs.ly c+?venantcel and
.~Kreed that thr ~ourt shall forthwith ap~int wch rereiv~r with thr ~uu:d pm~•en and dutiec of receiven in like ca~; and ~aid ap~intment
~hall be made by the rnurt a. a matter of +trict ri~;ht to the \tort~:~y~ee, and without reference to the adc~uacy or inadequary of thr .~alue of
the pmperty hereby mort~aAeel, or to fhe ~ohrncy or inwl~•ency of the ~1ortAaRon nr a~y othe~ paAy drfendant to wrh wif. The \1urtKa~or
hrrrby ~~eri6cally waive. the rifiht lo ob~ect to the appointment o( a r~~ari~'rr a~ a(oresaid anJ he?eby expn•..~ly ton~ent. that .uch appninf-
mrnt shall be made ac an admitted equity and a. a mattef of abwlutr riRht to the A1ortQagee and that the +ame may be donr without notice
tA tF~t MOIt!{~{.'Of• '
B. lf forecbsure paecreclinQs ~hould be imtitutetil aKxinct the pmprrty cvvered by this mortRaRe upon a~y other lien or rlaim whrther
+Ile~ed to be superior or ~unior to the lieo d thic mcxiRaKr, the \torl~AFee may at ih optia~ immediately upon institution of wch .uit or
~IurinQ the pendency thrrmf cleclue this mort~take anJ the indebteclnc~~ xtiured hereby due and payabk forthwith and may at it. option
pr~xred to foreclose this mortRaKe.
7. To pay all and sin~;ular the cc?.tc, charKrc aud eaprn~es, indudinK attomry i fcrs and rFntrect cv~ts, rrrwnably in~vrrrd or paid at
u~y time by the AtortKaQee because of the Failum of the ~tortKaQor to prrform, ~vmply with, and abide by rach and every the .tip~lations,
~ .+Krcrments, cv~nditions, and ro~•emntc nf saiJ prumicwry notr and nf this mortAatte, or either.
8. 'fhat the ~tortfiaKor ~+•il) kcep all rral and prr:onal property now or hrrea[trr encvmbrrrcl by thr lirn of thi~ murtKaKr in~ure~l as
~ rnay be required from time to time by the ~1nrt~aQre axainst Irnc by 6rr, wind.torm and other hazard., c:uualties and evntinKrncies frx sueh
~ ~x•riods and for not less than such ~trwunt. as may be rer~uitrd by the ~tortQaAee and to pay promptly when due afl prrmium for ~uch imur-
.~nce. The amounts of inwrance required by the !?fortRrycrr shaU br the minimum amount~ (or w•hich ~aid imur~ncr shall be writtrn anJ it ~hall
t~ incumbent upon the Atortqa~or to maintain wch additional in.urance as may be necrsaary to meet and comply fully witli all co-inaurance
~ rcquirements contained in s~ii1 policiea to the end that ~aid AtortaaRor u not a co-in~uror thereunder. InsurancY ~hall be written by a rnmpany
~ nr companies approved or desiy~nateci by the ~tortQaQee and all policiec and renew•als thereof ~hall Ix held by the AtortRaaee. All detailed
desiRnatans by the AtortgaKor which are acrrpted by the '~tort~,aRee and all aFrecments between I11ortKa~or and \~ortRaKee relatinR to insur-
.ance, now existinQ w hereafter made, shall be in w•ritin~ and .hall be a part of this morlQage ay,reement az(ully as though set forth vrrbatim
hrrein and shall Rovem both pa~ties hrreto and their .ucre..ors and a~~iAns. 1\0 lien upon any of said policiec of insurance or upon any refund
:~r retum nremium w~hich may be payable on the cancell:~tion or termination thereof, ahall be Riven to other than the ltortRaQee, e:cept by
pm~er eodorsement aN'ised to ~uch policy and approved by :lfodqaRee. Each policy oE insurance sh•~11 have a(6xed thereto a Standard New
5'urk I?tortRagee Clause without Contribation, makinQ all loss or la.xs under such policy payabk to ihe MortRaAee u its interest may appesr. .
In the event any sum or ~ums of money become payable thereunder the MortRaRee sha11 have tht option to re~ceive and apply the same on
~ccrount of the indebtedr.ess hereby secured, or to permit the 111ortAa¢or to receive and use it, or any paR thereof, witlant thereby waivinR
nr impairinR any equity. lirn or riRht under and by virtue of this aartqaRe. ln evrnt of bss ot physical damaRe to the mortqaRed property
the MortRaAor sha11 Rive immediate notice ehereof by mail to the 111ortQaQee and lhe 111ortqaRee may make oronf of bss if the same is not
made promptly by the I?io~tqaRor. ln the event of default in this mortRa¢e recultin~ in forerlosurc thereof by the MortRager. or in the acquisi-
tion by the MoctQagce of tide to the property secvred hereby in lieu of foreclwure, all riRht, titk and interest d the MortRaaar in and to any
~nsurance poiicies referred to above shall pus to the Mortgagee a its nominee ot to thyp~pl~apfit~iA~l~pp~~r~+y~~~g~c~spre sak, as the
Y•
~y ~ PACE ONE GEORGc" NATNF.~:;,u;y, ~;s;;,r;cy
2(~~ ~C~~~~ of the Lav~ Oft~ces c, t,cur ho~~ % Ccur;hon
BOOK V .~701 Mencuan hvenu~, L7;ap~; Eeach, F,,;r~
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