HomeMy WebLinkAbout1540 cbe ps7atnt oE tl~e mott=t~e ind~btcdaess. tou: aad cl~r~a. xcordia~ to clx ocdet of sncb cou~s: and soch ~ectiret msy be aoaciaued
ia possasioe of cbe said peopeaf uatii tbc time tbe sale cbe~eof nnder toceclosua is compiaed.
8. If a coaversaa stauid bs msde of tbe pccmi~es h:nis describcd. or an~ put [beccof. thsn aad ia cbat e~cat. aod st tbe opion of tbe
Associa~ioa. aad ~ritbout AOtKt. all sum: ot moaer mactd btabr ~hall IIRRIldl~ltlr ipd COACY~ItAtI7 M?III1 tYtI1 C011Ytr3ACt btC01Rt d4t
aad payaWe and ia defanic.
9. T6 tllt lYtb~ l~lt QK1111f[~ ffltt~r Q10K~i=td. Of ~111 ~tT [ZftKOf. a6a11 be coademacd aad ukea fo~ pnblit ust cadet tbe powet of emintat
domsia. tbe As:ociatioa slnlt barc tbe riabt to demaad that all damsga awarded for tbe tatinQ of or damsea to wid premisa shall be
paid to tht As~ociation. its sucttuoa ot assi;os. up to tbe amouat tbea unpsid oa this moa~age aod mar be spplitd upoa tbe paTmsnt
o~ wr~~o~ wnwe ctK~os.
i Q. ~l! lpfittti~OCf bl~ IdtWft~rtf AOt t0 lKtt O~ QtflUlt [O bt ttKltd ]A~ lltw b1llldltlei OII [Ift p[tQllfti IftttlO Q10RYi=td O~ t0 ~ t0 O~
ptfml[ t0 bt i~lA [O ~O~ OE Ibt tllitlAY imptovemenu tbeeson. or to deu?alisb. altec. o~ datcor anr mataial part of tbe impro~cmena.
witlwnt t6e written coaseae of t6e Association. and ia ~he eveae of aoy vidatioo o~ atcempc to violate this uipulatioo. t6is mortaaqe
aad all :omt secnted hrcebp ~all immediatd~ become dne aad parablc at tbe optios ot tbe Associatiop.
11. It u speci~cap~ aYned that [ime is tbe ~ssena of this conuact md thu no ~aiver of anr oWiQatioa hereundcr or of tbe oWiYatioa tecur~d
beab~ s6a11 at in) time becaftt: be 6eld to be a waiver of tbe cerms baeof oc of t6e iastrnment sccnrcd bereby.
12. If foreclotore proceedin~s of anr secood mort;a=e or second truse dad o~ aa~ jnnior licn of aar kiad shonld be iascieneed. tbe Auocia[ioa
n~ay st its option. immed'utd~ o~ tbeaafter dala~e t6is no~tYa;e aad tbc indebtedness sauetd bcreb~ dne and parablt.
13. To ebe e:tent of the indebcedaess of tbe mo~t;a~ors to ebe Associaeion dacribed bcnin or secured Ixccb~. tbe Associacioa is baeb7r
snbco~ated co tbe licn or lieas and co cbe rigbts of c6e ovrnecs and holdea cbenof oE exh aad erer~ mortgage liea o~ otbec encumbrancs
on tl:e land dacribed 6tceia which is paid andlor w[isfied. iu wbole oc in part. ont of tbe peocteds of tbe loaa describcd Ix~ein or secored
herebr. aad t6e respective liau of said moit~aga. licns. or a6cr encumbrances. shall be aad t!x same aad exh of tbcm l~ereb~ is p~eserved
aod shall pass to aad be hdd b~ tbe Assaiation baein u secnritr for tbe indebcedness to the Associatioa 6ereia described or baeb~
secored. to tbe sa~ae e:tent tbat it wonld ha~e been pratrved and ~ould bave baa passed to aad been beld b~ tbe Associatioa bad it been
dulr aad cr~uladr assigned. triasfeaed. set ovec aad ddive~d nn~o tbe Assocu:ion br seWntt dccd or assignmtat. notwitbsandiaY that
t6e same mar be utisfxd aad anulled of raocd. it bcing the intentioo of ehe pa~tia fxreto tbat the same will be satisfitd aad cwcellcd of
raord br cbe 6oidea cbercof at o~ abont cbe rime of c6e cecordin; of chis moetYa~~.
14. To par all aad sin~uiar tbe costs. chsRa. and ezpeaus. incloding la~v~cr fea. incarr:d or paid at an~ time b~ tbe Auociatioa bccanse
of tbc failurc of tbe mort4agon co paEorm. compl~ vni:b and abide br exb and eveq tbe scipulatioas. ag~eeicnu. conditions and covenants
of said pmmissor7 nae aad this mortga;e. or eitbcr. and evcn sac6 parmcnt sbali bcar intecest from date st tbe dcfsnlt nte as aated ia
pua~raph 2. and an~ saau so paid slull be repaid to tbe Associatioa npoa dcmand. _
15. Tbc mortQagor fnrtber coveaauu that if moaq is to be ad~anced on this mortgage during tbe conrx of constructioa of a baitdiag apon
t6e abo~e described ptopat7. tben uid building s6a11 be completed witbin dars from tbe date lxerof aad s6s11 be coastructed in
xcordaaa wit6 plans and spccificatians sabmitted to tbe As9o~ciatioa and cluc sbonld said baiiding not be constcucted witl~in tbe above
time limit andlor said buildin~ sb~ll not 6e consuoctcd in xcordancc wit6 sacb plans and speci~utions. t6ea and in that eveat tbe
mrtrtgay~a ma~. at its option. dedan all suau mured hecebr immediatcl~ doc aad parabic.
l6. "Chae if ebe mo~tga;or sball proco~ contncts of insnnnce upoa bis life and disabilie~ insnnnn for toss of time b~ xcidental iajac~ or
sicknas. or eitber. makin~ tbe morcgaYa. assiYna tbe~sunder, t6e mortga~ee ma~ ps~ tbe preminms fo: snc6 insnance and add the ume
to tbe principal indebtednas secnnd b~ ehis mo~tg~ge snd uid amounts shall be rspaid to the Auociation immed'utd~ npon demand.
and the failuee of tbe moctgagors to complr witb tbe dcmaad of the Assocutioa for a period of ehirty (30) days s6a11 cons[itate a brex6
of t6is morc=aYe and t6e Association. at its optioa. immediatel~ aad wicbout aocice. may institnte proceedings to forecloae cbis morcYsQe
md appl~ for tbc appointment of a receiver as bereinbefore pcovided.
I~I WITNESS WHEREOF. the said mortgaqoa brreonto set thrir bands and seals this da~ aad ~ur 5rst above ~ritten_
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j Signed. saled and delivcced in tl~t presence of:
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couN-r~r oF PALM BEACH ~~~~5
I. an oQica aacboriud to ake uknowledgmrnts in tbe satc and connt~ aamed abore, hcrcb~ ccaif~ tbat ~~~__~~_-at1S~-
JOAN _YEEK~_his wi~i _and f~UENTIN_COOPER._ and_ ERNA_ S. _COG~PER,__ his wife
to me personall~ kno~+n. tbis day xkno~{~; btfoct me. t6at _~1~ e:c:ntcd the foregoiag instrumcat. aad 1 FURTHER CERTIFY
that I know the said pccson$_ mpld~~s}~d x~~fl~l~ment to be the iodividnals. describcd in and who e:autcd, thc uid instromcat.
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1N WITNESS WHEREOF~i•'~~Q'~o stt~dryV3"e(~~sad.o~iciai seal at -I..Sk6.~OT~1__. ssid ConatT
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