HomeMy WebLinkAbout1581 at all timespeaawbly and q~uetly to eater upoa, h~{d, o~rupy~~c# rnjoy s~i Ltiu~d; that s?id l,u~d is f~re hwu aU e~~cumb~ux~es; >
chat they will nuke such fwcthet atwranoet ~o peife~t tbs fes simple titb to said land iu the Associ~tioa as mav neasa4a61y bc ~
requiied; u~d ttwt they do 6ereby fuily vranaat tbe tids to said ku~d and will dcfe„d tl,e s~ against thr la~~~ful claims of '
al! pe~sau whomsoever, ~
PROYIDED ALt~'AYS thut iE the rlortg,~~nxs shxll well aad truly puv unto ti?e ,1~a~iatio~, thr uxk~t~tcdness e~~~ced ~
by that certain promisso~y note, of eva? date het'ewit~ mtds bv th~ 1lottgagAOrs ~nd pc?~
able to thc Assoriatio~?, io thr ~incipal
SuR, ~_TWEN~Y-~'pI~TR THOU$AI~ID AND_ Npj100ths----------------~pdi~rs 24, 000. 00
~~hich note, together with iotcast th~rca? cu therein specif'xc~ is p.y~abk in monthhr instal)ma~ts of ONE HUNDRED
NINETY-THREE AND 35/100ths---------------------------------------------------
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- _ . _ Dolisus 193. 35 - 1•
on che_.... $rd._. d~y of each moath a~mmencing.vitl~.. -------Ma~_ s+,.19?3-------------------.. --_...__..v~~hich pa}mencs
:ve to be ~~pplied, fint to iaterat, aad the b~lance to prinapal, until said in~ebte~ess is paid 'na f~il'1, aad sLVI periaao~ ~oa~y ~
wit~ aud ~tbxk by each and avery d~e t~oras, agreeana~ts, ~'tions and m~~nti of said pro~n~so~y note and tl~
~8g8a ~~8 any advances ma by tlie Associitioa to the Matgs$o~s, ar the~ successas in t~ fac any pu~os~,
at any time before the rekase and cancdiation of this mo~tg~ge, but at no tim~ shalt d~ moctgyge sec~m ach~anees aa ac~ount
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of suid original iwte togetl~er with such additio~tl Aciva~x~es ii? a su~n in e~cess oE_ T~NENTY-FOU$ THOUSAND ~
- A
AND_NOj100ths--_--------------------------- 24,,000.00 ~ .
- - • - - - - ~s (S._ _ --),p~t~ anv adva~~ees r~ecessan
to protect the security and wsts, t~ this deed and tbe estatt herebp ae~ted sMll t~s~ and be null and ~vid.
AND THE I~lORTGAGORS DO he~cby cvv~enant u~d agtre;
1. To p~y all aad singutar the pcnx~pa1 aad int~ and other swns of moRer p~y~bk by viduc of said ~xvmissort note
and this mo~tgage, or either, PmmPth' on the daYs respecdv'el~' tL~e saa~ se~rially ewne du~
8. To pay all and singular tbe t~es, ~ts, 1e~?ies, liabilitias, obbgations aml iaciunbrareces o~f evc~~ nture and ~d
now on said desciibed property, or ihat ~Rer may be ~ suffaed. P~xccd. lc'ried or asses.sed thaeon, or tl?at hereaRer
may be levied or assessed upon thu ~[o~tgage, or t~e n~~ secured heRb~. cnc~ aud evetr, ~ev1Ka due and pal*~b1e.
according to Ia~v, before they becoone detinquent, aad befo~e any intarst attad~es or xnv is i~uned; and in9o~ar ;u f
:~ny theceof is of recotd the sume sball be. p+ompdy s~tisf'ied and discharged of ~reord ancl ~x~u~i~'nal of~cial doc+nrrent (svch
as, for i~stance, the tau reeeiPt o~ ihe satisfaction p~per offieialh endo~sed or ecitified) shall be p~ced in the hands oE said
Association as liartgagee within tea days neact aRer pa~~nent; and ia the e~vent that aay thereaF is iwt paid, satisf'~ed and di9cbarged.
said Association muy ut any time pay the same or any put tl~e~eof ~~itha~t waiving or afEectiag anv option, 1ien, equih o~ ri~ht
undet or by vittue of this ~iortguge, and the full amouat of earh ana evrrv such payme~t shal! be immediately due andpa
ya~le ;
and shall bear inter~st from the date thercaf until paid at the rsitr stated 'u? the note secun~ he~cb~ and to~ether wiYh such inter- ~
est shali be scc~red bv the lien oE thit 1~ioKgage. ~
3. To keep the buildings aad all equipme~t and p~taoual propert~r no~r or haraitet on said prcmises eoretrd b~ ttis mosgaae. ;
insured in a sum equal to at kast the amount ot the aaott~~e. or an amount suf[icie~t to com~ply rrith any eo~inturiuc~ reqnitr ~
ment mveri~ ehe same under the larrs o[ thc Sace of Flozida. rnretina bss irom both tire aad stwm. maki~g the loss under uid
policies, each and erery. payabk to thc A,ssociatiw~, as mortg~gec. as iu interat may appear, and said i~wuance sha11 be in a good ~
and raponsibk insuranct tompanp utis[attotp to said :~SSOtiatioa, and ~rtittta by a respo~ibk 1oca1 a~ent satis(acto~ to said ,~sm. ;
ciatio~: and the polic~r or policies shall bear a uandard a~ottaage clausc rrithout coatributiou. aad. if the ori~iaal ptiMipal amount
mo
of the mongage is Fifty Thousa~d and no/ 100 Dollan (j30.00Q00j or in excas tAereof. shall be hdd br t!K Associatioa, aad. in
th~ event a~y sum of mw~eJr Aecwnes p~arable uader sud? poliqr or policies, tl~t Assotiatioa sAall b~are the option to receire and appl~
che samt on acoouat oE the indebtednas hercb7 scrund. oc to permit the mor~aaots to recei~re and use.ic. or any put cLa+eoE, for
other purposes, rvithout thereby Mrai~ing or impairing :~r ~w~r, li~n, or risht under aud ti~ iirtue ot chis mort~~e. aad may
piace and pay for such insunnce, or an~ parc thereof, xithout ~rairing or atfecti~g its option to toreclose, or any r~6t heieucder,
and the tull anaunt of each and ererq such pa~~t shall bt immcdiattly due and papble aad shall bear iatcrest [rom tLe date
chercoE until paid at the nte stated in the note secured l~erebY and tagether rritl~ such interest shap be mar~d b~ tAe lien QE th~
Uortgage. -
To~erm~t, commit, or suffrr no vr-uste, impairment or deteriwYtior? of said propeitr, or :iny part ibereof, and upon
the failuro of the mortRugon to keep the biuklings on said propert~ in good cw~dition of repair, the ~s9ociation may demand the
immediAte repuir of s,~id buildings or the immediace repa,vmest oE the debc her~bv scauYd, atxl the failure of the uwttgagors
to rnmplv with said demand oE the ~1.s~oci.ltion for ~ period of Tbitt~ (30) da~s, s~ll constitnte s br~eACh of this
and, at tl~e option of the Association, immediatelv mature the entim amount of pancip~l and interest herebr sec~ued,~ au~i~t
e
~ssociation, immediately and ~vithout twtice, may institute proccedinas m foreciome this mortgage and apph• ror the appointa~ent
of a Recei~~er, su hereinafMr pcovided.
5. Thiz mortgage cantract provides for additionui sdvances ~.hich m~v be aw~de at the option of the ~ssociatioa aad
secured by this mortgage, snd it is agrecd that in the er~eut of sudi advances the amount mav be~ddrei to the tino~tgage debt
and shall increase the un~sid balance oE ihe note hereby secur~d by the amount of such advance and sh,all be a paut of said
note indebted~ess under all the terms of said note and this caatract at fully as if a new such note and contract N~ere executed ~
and deiivered. An :idditio~al advanee agrecrt~t mar be gi~~+ea ar~ci a~ceepted for sueh advance and rymzsio~ raa~- be made #or
ciifEerent monthlv pa}~ts ~nd a differmt intesest rate and other ex~ess nnodifications of tbe contrac~, but in aD other respec~ts
ihis contr.~ct shzll remain in full foree and effect us to said indebt~ness. including ap advances.
6. If any of the sums of monry herein refenrd to be aot ~C+ompdv and f~lh paid ~?;ch?n ~r~cy ~so~ aayz next aker
the same severally eome due and payable, or if eaeh and rvesy the sti tio~s, agrecyneot, e«~clitions, and rnvenants oE saici
promissory note and this deed, or either, ure not duty pa~fonmer~, cwn ied v?~ith and ab~ckd by, t6e xggregate sv~n a~tioncd
in said promi~sory note ancl anv other amoimt or sawunts added to th~ ~ge u~debtedness ?m~k~ the tenns oE tl~ mortgage
shall become due und pa~~ble ~orthvrit~ or tlxrcafter at the option af tbe Associatio~, as fully and completely as if said ag~regatc
withstandin y~~as o~ginally stipulated b be paid on such dav, an~~thing im ssid pcoa?issorv ~?ate c~r herein to tik ca~trarv not-
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To deliver to the Association, on or befor~ ~tamh 13th, uf each ~tiv?r, tax rece~pts rvidencing the paymeot of all la~-
futly imposed tuxes for the preceding ralenc~u vear; to deliY+et to the Associatioa res.~eipts evidencing the p~ymeni of all lieas
for pubUc unprovemerits Htithin ninety (90) days aRer tbe same slwll hecome dur and payabk> +md to pay or disd~arge within
ninety (90) da~~s after due date, any ~nd all governmrntni kvies that znay be made on the mortg~ged ProExYt!i, cx~ this'~°rtl~fie
or note, or in any other wxy resultin~ from thr mortgage iodebtedness secureci b~ this mortgi~e.
Foox212 ~i581
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