HomeMy WebLinkAbout1890 at aU times pr:ia~bly and quicdy to tti~cec ujwn, tx?ld, ~xrupy uud cnj~~y said l:u~d; that said land 'u• frtti~ [rum all cucumbranc~.~s;
that thcy will ~nake such further nssurances to perfect the fee simple title to ~id lsnd in the Asscx:i:ition as may rrasu~?:?bly lx•
rec~uirecl; and that they do hereby fully warrant the title to said laud and ~~~ill deEend d?e s:imc against the l~i~~~Eul cLiims of
;cll ~x~rsous ~~•homsorvcr.
PR017DED AL~1'A~'S th:?t if die ~1urt~;u~urs shall ~vcll :?nd tndy p:?y ~mto the Asux•i:~tion, the indebtednesc evideu~~
by th:~t rc~rtain promissory note, of even date herewith, made bv the \tortgagors ancl ~:i~•uhle to the Asx~x•i;~tion, in th~ princi~x~l
.um of Z'WENTY SEVEN THOUSAND AND NO/100ths--------------~h~~~,«S ~s 27~ 000, 90 ?
~~~hich note, t~~ether ~~~ith inte~est ther~n as thercin srecified, is lx~~:?ble in munthh• instalhnents of interest payments
due on April 5, 1974, May 5,1974, June 5, 1974, July 5,1974, August 5, 1974, September
5,1974 and then TWO HUNDRED THIRTY ONE AND 23/100ths---------------------
. - - t~Ilars ~S 231.23 1,
on the 5th day of each month cY~mmenciug ~vich Oetober 5, 1974 _.which paymentx
.?re to be upplied, first to interest, and the i~alance to principal, w~til said indeUteclness is paid in full, and shull perform, comply
«•ith ancl abide by each and every the stipulations, agreements, conditions and co~~enants oE said promissoiv note and tl~is
mortgage, And, including any advances made by the Association to the ~tortgagors, or their s~ccessors in titlC, ~for any purpose,
:it anv time before the telr~se a~~d rancellation of ihis mortgage, hut at no tirne sh,ili this mortguge secure advances on acrount
of s;~id original note together ~vith such :idditional advances in a sum in escess oE__ TWENTY SEVEN THOUSAND
2? 000.00 .
AND NO/100ths---- - ' ~s ' _ _ P~us any aclti•ances necessan•
. . . . _ _ - - - -
ta protect the security and costs, then-this deecl and the estate hereb~• cmatecl sh:ill cease and be null and void,
A\D THE \iORT~GACURS DO hereby cu~•enant and agree:
1. To pay all and singular the principal and interest and od?er sumc of maney pat•able b~- virtue of said promissorv irote
.incl thu mortgage, or either, promptly on the da~~s respectively the same ~c~~erally come due. ~
2. To pay all and singular the taxes, ass~ssments, tevies, liabilities, obligations aad incumbrances af even• nahire and kind
no~~• on said d~scrihed pmperty, or that hereafter inav be imposed, suffered, placecl, levied, or assesseci thereon,~ or that hereafter
ina}~ be Ic~~ied o~ assessed upon this ~tortgage, or the indebtedness secured hemb~•, cach ancl even~, when due and payablc,
.~ccorclu~g to la~v, Uefore they become dc•linquent, and before an}~ interest attarhes ~~r penalty is incumed; and insofar :~s
,?ny thereof is of record the same sl~ail be promptly satisfied a~zd ciischar~ecl of r~eord ancl the original official document (such
is, for iastancr, the tax receipt or the satisfaction pa~Cr ofFicialh• enclorsc~ or certifiecl) shall be placed in the hands of clid
.~ssoeiation :~s ~[ortgagee ~~~thin ten da~~s next after pa~~ment; and in the event ihat anv thereof is not lk~id, satisfieci and disehar~ecl,
said Association ma?y at anv time pa~• t1?e same or a»~~ part thereof ~~~thout «~aiving or affecting any option, lien, equit~• or right
under or l,v ~~irti~e uf this ilortgage, and the futl amount of c,~ch and everv such ~ayment shall be iminedialelt• due and j~ay~able
and sha~l l~ear interest frum the da*.e thereof until paid at the r:ite stated in the note seci~red hereb~• and t~fiethPr ~~•ith such inter.
~~st shall he secured bv the lien of this ~tortgage.
3. To keep the buitdiny,s aud all equipment aud personal property notc ur hereafter on said premises covered by this mortgage,
j iusureci in a sum eyual to at least the amount o( the mortgage, or an amount sufiicient to comply Nith any co-insurance trquire-
mrnt co~~ering che s:~me under the IaN~s o[ the Statc o[ Florida, co~-eriug loss (rom both fire and storm, making the loss under said
policies, rach and eti•ery, parable to the Associatiou. as mortgagee, ac its intrrrst may appear, and said insurance shall be in a good
:iud respousible insurance com~~any satisfactor~• ro sai<t :~ssociation, and rrrittet~ by a responsible local agent satu(actory to said Asso-
eiation; and the polic~ or policies shal! bear a standard mortgage clause without contribution, and, i[ the oriRinal principal amount
of d~e mortRa~e is Fiity~ 7~t~ousand arid r~o/l011 IMllars ($50,000.00) or in excess thereot, shall be held by the Association, and, in
cl~e rti~e~it any~ sune of mone}• becomes payab(r w~drr such policy or policic~s, the Association shall have the opcion to recei~•e and apply
; ehe same on accowu oE the indebtedness hereb~~ srcurcY~, or to permit the mortRaRors to recei~•e and usr it, or any pan thereof, for
other purposc~s, widiout d~ereby wai~•inK or impairin~ an} eyuity, iicn, or right under and by ~•irtue of this mortgage, and may
` place aud pa}' tor such insurance, or aa}• p:+rt thereo[, WItIIOUI W~h'jIIK or attecting its option to fomclose, or any right hemunder,
~ .incl the full amount of each and e~•ery such pa~ment shall I~e immcYliatel}~ due and payable and shall bear interest irom the date
' ~hrrrof unul paid at the rate stated in the uote secumd hereby and together Nith such interest shall be secured by the lien of this
' ~tortgage.
t
? 4. Z'o permit, a:mmit, or suffer no «•:?ste, impainnent or deteriuratiun of ~:~id prupert~~, or atn• part thcreof, and u~x>n
~ tl~e failure of the ~nortga~urs to kecp the bi~ildin~s on said propcrt~• in ~ood conditiun ~~f repair, t}~e :lssociation may demand the
> irnmcciiatc~ repair of s:tid bu;ldin~s or thc iinrnediate mi~~Tnent of thc dcUt hcrcb~• serurcd, ancl the failure of the mortbagors
3 to compl~• ~eith said demand oE thc Association for a prri~x~ ~~f Thirtt (30) d.n-s, shall constitute hreach of this mort~a~;e,
` and, at the option of the Association, immecliatelv mature th~ c~ntire am«unt of principal and interest hereb~ secureci, and the
: :\ssociztion, immecliately and ~vithout notice, mav institute proc~•e~lin~~c t~~ Foreclnse this mortga~F and app)~• fnr the ap~intment
; ~~f a Receirer, as hereinaEter prm•idecl. ~
~ 5. This mortgage contr:~ct provides for additiu~~:~l ad~~a~?ce~s uilicl? u~av be made at the• uptiun of the assc~eiation and
z secnred bv this mort~a~e, and it is agreed that in the event of such a<h-ances the amount may be added to tlie mortgage debt
and shall increase the unpaid balance of the note hereb~~ secured Uy the amount of such advance and shall be a part of said
note indebtedness under all the terms of saic! note and this contract as fully as if a new such note and contraM u~c~re executerl
~ vnd rielivered. :~n aclctitional acl~~ance a~ree~ment mar be ~i~•~n a~~d acce~te~l for such advance and pro~•ision tua~• 1x~ made for
~ rlifferent monthlti• p:~~~ments ;ncl a different intcrest rate and~other express modifications of the contrac., but in all~other res~ec•ts
~his c~ntraet shall remain iu f~dl fome and effeet .?s tc~ said indebtedncss. includin~ all aci~~ances.
6. If am~ ~f the sums of money hercin referrcd to be not promptl~~ and fulh- paid ~~•ithin Thirty- (30) days next aftrr
the same se~~er:illv c~c?me due :?ncl pa}•able, or if eaeh and e~•erv the stipul:itious, a~rcrment, conditions, :?nd co~•enants of ~:iicl
promissor~~ note and this deecl, or either, are not duly performed, cumplied ti~•ith and abic~eci by, ihe aggregate sum mentinnecl
in said promissorv note ancl at»• other amount or amom~ts adclecl to the mortgage indebtedness under the tcrms of this mortgaQc
sha11 bcrome duc and p~~-~ible forth«•ith or thcreaiter at the option of the Associ~tion, as fullv and completely as if said ag~~regatc•
sum o[ monev ~eas ori~inalh~ sti~ulated to be paid on such da~•, an~~thing in said promissorv note ~r herein to tiic contrarv n~t-
~~~ithstanding. - - • .
' To deli~~rr to tiu Assc~ciatiun, on or lx~fore \(arch I~th, ~~f r.?ch ~c.~r, tax receipts evidencing the pa}'ment of all lau~-
full~• im~~sed taxes for ihe rrecec]in~ calend:~r ~~ear; to deli~•er to ihr Association reccipts evidencin~ the p~vment of all liens
Inr public improvements ~rithin ninety (90) days aEter the same shall I~ecome diie and pa~~able, and to pay. or discharge ~~tithin
~ riinety (90) da~•s after due date, am~ and all ;;o~•emmental 1c~~es that mav be made on the mort~av_e~d pru~x~rt~~, ~~n this mort~a~~•
: nr note, or in ant• other ~~•av r~~suitin~ fr~?m thc~ m~~rt~,age indei~tedni•ss secun•~1 1?~~ Ihis m~rt~a~~•.
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~ . ~ 224 F~.i.E 18~9
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