HomeMy WebLinkAbout0224 [he parmeat of the mort~s~e iadcbcedneu. conts and char4a. ucocdinY to the order of such cou~t: sad such rcceivu may b¢ coatinued
in posstuion ot the aid propaty until t!x timt the ssle theaof uader toralosua is completed.
8. If a coeveyance should be made of tbe pramises ixnia describcd. or aay parc thereof. tfxn and ia thst event. and at the option o( t!u
Association. aad without aotice. all sums of monsy stcurcd herebr shall immcdiaulr and concurantly with :uch coavsyance become due
and payablt and ia tttfault.
9. la tbe eveat the premixs heceby moct~aQed. or aay part thenof, thall be condemaed and taken (or public use unde~ the power of emiaeat
domain. t!x Associatioa shall have the ri~ht to demand that all damaga awardcd for the taking of or damaYes to said premiscs shall be
paid to the Associatioa. its succestors ot auipns. up to tbe amouat thea unpaid on this mortgage aad may be applicd upoa the payment
or parmeats ~uc wr~w~ cbereoo.
10. T!x mortQsYors bind tbemselves not to eotct or pcrn?it to be erected any new buildings oa the p~emises herein mortgag~d or to add to or
pe~mit to 1x aJdr~1 tu iwy ut tt~ er~iscic~g f61PiO~i41i6Ii [I1i(itlli. ~r to demuliih. aIte~. ~r 3~tr~~ a~~ matcria! gart of tbe improvemeats.
without tbe written conscnt of tbe Associstioa. aad ia the e~ent of anr violatioa or attcmpt to violate this uipulation. t6is mongage
aad all sums sccnred herebr shall immediately become due and payable at the optioa of ttx Auociation.
l i. It is speci~call~ i$fttd 1t1i[ [1~1! li [I1t tSSt11Ct OF [tllf CODI~itt ~Ad 2EIi[ If0 waiver of aay obligation heaunder or of the obligatioa secured
bereb~ shall at any time beaafter be beld to be a waiver of tbe cerms hcnof or of the 165~[Y~ltO[ SKOftd IltKby.
f 2. If fortclosun procetdinY: of aa~ saond moctgage or second trust detd or aay junior lirn of any kind should be iestituted. the Auociation
ma~ at its optioa. immediately or t6enafter dalaa this mort~sgc and the iadebtedaess sccured l~enb~ due aad pa~sble.
13. To tbe eYtent ot the indebtedae3i o[ tbe moKgagors to tT~e Associafion described ixreia or secuced lxaby, the Associati.,n is t.:r¢bp
subrogaced co the lien or liens aad to t6e riphts of cbe owners aad holders tFxreof of euh and ever~ mortga;e liea or otber encumbrance
oa the laad dcscribed benin which is paid and/or satisfied, ia vehole or in part, out of ehe proceeds of tbe Iwn described bueia or eecured
henbr. and tbe respective licas of said mortgaga, liens. o~ ottxr encumbraaccs. shall bc and the same and cach of thcm lxrebr u preserved
aad sball pass to and be beld by tbe Assaciation hereia as security for the indebtedness to the Association Ixreia described or herebr
secured. to the same exteat that it would 6ave brca preserved and would havc bccn paucd to and becn hcld by thc Aswciation had it beca
dulr and «gnlarly usigned. transfernd. at over and delivectd uato t!x Auociation by separate dccd or usigamcnt, notwithstandiag ttut
tbe same mar be satisfied and caacelled of eecord. It btlp$ tllt l~tlottOA OE [~It p7t~IK Iftft(O IIIi[ Ilft Si[O! WIII bt S3[ItEltd and cancelled of
record by tbe twldcrs thercoE at or abont the time oE tbe recording of this mortgage.
Ta gay a!! acd siagnlar t!x coua, char4ts. aad e:gsaxs, sasle~ing la~yrs frrs. iasarrrd er paid 3t 3a7 [!~!!t ~y tbe Association because
of thc failnre of tbe mongagon to pcrform. comply with aad abide by cach and every [tx stipula[ions, agramcnts. conditions aad covenants
of said pmmissorr aote aad tbis mortgaqe. or either. and every such parmcnt shall bear iatcrest from date at the default ratc as aatcd in
pangnph 2. aad an~ snms so paid shall be npaid to tbe Association upon demand. _
I 5. The mortgagor further covcaaats t6at if money is to be advaac~d oa this mortgage duriag the course of coastruction of a building upoa
tbe above dcscribed pmpcrty. thcn said bnilding shall be complcted within days from the date hereof aad shall be conuructed ia
accordaace wit6 plans aod specifications snbmitted to tbe Association aad that should said building not be comtructed withia the above
time limit and/or said building shall aot be constructed in xcordaoce with such plans and sptcifiatioas. cben aad in that event thc
mortgaga mar. at its option. dalare all sums secured hercby immcdiately duc aad payable.
! 6. That if t6e mortgagor shall prauer contncts of insnnace upon his life and disability insnraace for loss of timc b~ accideaal injurr or
sickaess. or either. making the mortgaga. aszigna thenuader, the mortgagee may pay ttx pnmiums for such insurance and add the umc
to the principal iedebtcdnas stcurcd br this mortgage and said amounts s6all be npaid to the Association immediatelp upon demand.
and t6e failua of the mortgagon to comply with tbe demaad of t6e Association for a period of thirty (30) days shall constitute a breach
~ of tbis mortgage and t6e Associacion. at its option, immediatety aud without notice. mar institute proceedings to Eocrcloae this mortgage
~ and apply for the appoiatmcnt oE a reccivcr as bereiabcfore provided.
IN WITNESS WHEREOF, the said mortgagors hcreunto set tbeir haads and sais this da~ and Yar 5rst above writtm.
i Signed. ualed and delivered in the presenu of:
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q W illiam J ownin
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FILEO ANJ RECORGED t
~ ST.lUC1E COUMtY flA. :
~ ROCER iO~TRAS
CIEf.K C~ -.CJ1T COURT ~j ~
~ ~ECr,p~ YEFtFSED ~
~ STATE OF FLORTDA ~
- COUNTY OF Fa T~M BEACH ~ Z~ 9 33 AM ~~3 ~
J~ . 262552 ~
I. an officer authoriztd to take uknowledgments ia the state aad county namcd above. henby cert~fy that ~
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~ ,,-~,*.,:-,xf-`~---~~ M I?OVS(1~IING---~nd---BETSY_]?_OV~NI11t~,--his--~nt_if~_-------------------------------_-- #
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~o` pe•persqnalt~~fl~rc+ntw, this day xknowltdgcd before me. ~h~~ . they ~=KUtcd the foregoing inurumcas. and 1 FURTHER CERTIFY s
~ t~it•{ kaov~~t~l~}i~~lt~soaS. making said uknowledgment to be the indi~iduals dcscribed in and who rxtcuted t}x aid instrument. ;
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~ ~Lji~rWI7'N~~6REOF. I henunto ut my hand aod oHicial scal ~c _LAKE. Worth .~~a cooa~~
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.•r y~~}' . . y. r.. ; ^3. 1977 '
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~•?*rrt!~~~~ 6or.ded 67 A:n_: :an F ra S t~•sc.~!ry Co.
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o R 218 224
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