HomeMy WebLinkAbout1807 P TO pNfOrm, COmply w~M itW •O~O~ Oy NCn MO ~vfry •~~{wN~~on, ~ylNtMn~, conwr~on arw cov~.w~r ~n s~w prvm~~~w~ r~v.~ ~n~+ aw.~. a
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7. In Nr wu» ~M jw~id~d~on of tM U. S. Oiinic~ Cow~ ~hall b~ ~~wk~d EY a~pum~ rM Mortppw und~ ~ny ol ~M ww~a~om of d» i~~~l lank-
n,plcy Act. wcA ~ction. wAe~Mr volun~uy w involunray on tM par~ ol ~M Mo~?~qor. iMll wrom~~iully. wiMout ~o~K~. ~cc~lNU~ N» maw~~ey of dl iu~nf ~ .
•qp p~h ~u.na of moMy wN~
of mon~y I~t~n d~acrib~d ~rd a~cweq, and ~M t~ ~hall tM~hrpon b~co~ dw ~nd WY~~ (athwi~h ~s fvlly p i{ tM wid r i
wip~nally sripubt~d ro b~ Wid on sucA d~~~. ~
To d~livK b wid Mwtp~q~. on o? O~foh Marcl~ ISM o1 Nch yar. U: nc~ipn w~d~nc~~q M» paym~nt of ~11 I~wfully impw~d ~a~a fw tM pnc~d~nq ~ ~
ubndar yaar. and a d~li~w a~~id Mwpaqaa. nca:pM w~d~nunp ~h~ parm~nt o( •11 I~aro ta public improw.nenn w~~Ain MMfy (VO~ A~y~ ~IIM tM s~m~ sMll !
E~cans dw ~nd ar+b~.. and a ar w dixharq~ w~~Ain ncmh dry~ afne dw d~N. ~nY and ~II poverrr+wmal Iw~~s M~t m~y b~ md~ an t!» morq~yd . . '
prop«y. m Mis mapp~ a noe~. o~ i~ ~ny otM~ war r~~ultiop fran tM Mutyw~ in~Mpt~dn~t~ t~cw~d by thit morpay~: ~nd i} Mi~ condiGOn b~ not comr~~M ~
wiM ~nd p~riwen~d, utd morlp~~ msY par suth w+n w twni which ilull Mcom~ put of ~M d~M wcw~d by ~his malp~y~. ~nd shall bw int~pt at tM de(wir :.R,
r~b prwid~d in uid Prun~~wtY ~ wr~bb monthly until p~id a~id Maq~qN nyY •bct tMt taid ma~pp~ d~W tlw~upon E~com~ dw and pay~bl~ forth- j
wi1h. . .
9. h is iwtlw cewnru~d ~nd +a~«d OY~ uid o~~ ~M~ in M~ w~nf d ~ ~ui~ E+iny iruK~w~d a ionclw~ ~Ah Rwrf~, M~ Map~q~e ~MII E~ ~n6N~A a `
+OO~Y N MY tia» ~edMq wd~ fa~cloMw~ wit te M» carr~ Mvk+~ Iwi~dic/ian fAN~ol fa ~ woaMnwnt of • r~iwr of ~i) and ~in0ular IM mafY+9~d o~~~Y.
and e! dl tM niqy incoM~, o~efia. hiwt and nvMU~~ Nrrw1. kaw wMpo~vw ~ource dwiv~d; +nd ~Mr~uaon if i~ 1w~by ~,p~h/ cov+n~med w~d prMd
IIW IA~ tourl ~MII ierlAwilA ~ppoiM • nt~iwr of NW ~norp~4~d Prop~M. ~11 Md ?i~pu4~. ~nd e1 ~~tA e~nh. incon~. Wofit~, iuuM end ~w~nu~ M~rwt. haw
wlrue~N? ~o~wc~ dwiy~d. witA Mw uswl oow~n ~nd du~iw ol stt~iwn in lik~ pwf: w~d wcA wooantw»nt aMll b~ nrd~ b~r tuch court a• ny1tN of ~biit rioM
b ~M Mafy~~ it~ wcc~ua~. Ny~l npe~wutlivM a ~uiyns, and wNAaA ~~e~ b M» ~d~qwcy ar in~d~qu~cy of M» valw of 1M Y~~~V ~~1? warfW9~d~
er w~M wlv~ncY w imohia+cY ~ Mr ~Morq~Ya. ~nd drt ~ucfi ~M+~. wolib, incoew. iuw~ aed ~wuwa Jrll b~ ~pp6~d by su~d~ nc«w ~s tM wY~~ of tM -
narq~Y~ i~d~lNdn~~. cab and dw~t, KcwdinY 1o rM ordn of tah cowt.
10. 1( ~II w ~ny pwt of eM prop~rly a an intNat Ms+~in i~ wld a fram(Knd Ey matppa witAo~t matq~pN's• pria w~in~n eon~n?, ~:eludfnp tM
crwtion of a lian a encumbr+nc+ s~,bordinaN a rhis mwtpp~. (b) ~M usation of • purch~s~ ma+~y ucwiey innre~f (w housdwld appliancp. (c) s aw(N by
d~v~se o~ dasc~nt. w by opsration of law ~pa+ th~ daa~h of a iroim tenu~t, w(d) the qrant of ~nY kas~hold inre~es~ of thre~ v~+n a bss not conuininp an option
ro pweMs~. enatp~ql~ msY. at tb option, eMelan all fM wm~ s~eur~d Dy this mwtqay~ ro b~ unnwdiaMly dw and paY~bl~. 1Matq~qN sh~tl Mw wiiv~d sueh
opr~on ro lcc~hr~a if, pria ro Me s+t~ a nwfN. ~no.~~pN ~nd tM penon ro whom rM pov~•h is a be soW w TMau/end r~ach pr~nsnt in wriri~q
rhat the credit of auch ppwn is sauifxtory ro Matp~pN and tMt tM inNr~~t payabl~ on ~hM awna secw~d by NNS mortp~q~ sMtl be N sud~ r~t~ u Matq~qe~
sh~ll nTaunt. - .
11. ihn in tM ~wnt d~ P~„ ~~bY ~~9~0~. a~nr wrt tMrwr. ~MII E~ cond~mn~d ~nd ~~kM for vuWit uw undN tM oow? of ~w~in~ dee~in
tM Map~~ shall Mw 1M riqM b d~wwnd MN dl d~n~apN awKd~d for tlw bkino ef w d~ya 1o s~id P~~isp ~MII b~ p~id te IM Mw~9~Y» uV q tAt Mwa+nt
~~d on w. .~.r~a,o..~d a r~. oa~on o~ M. Mo.+ao.+ ~+r e. .vo~i.a ~ao~ u~. o.r~.~u, ia+ ar.a. +~«.a+-
lt. 7M w~rq~pa bie?d~ Aiwndf nw b w~et a w~mit ro~~r~et~d Mry n~w ouildnp~ on tM pr«nisM hw~in w~atpp~d a w~dd w o~ pNnwt b b~ ~dd~d
ro vw ef tM ~ab~i~q lwpew~swnr+ ~hw~ow a wb enY ~Mnp~ w~hu~Nam in wid i~nwovermnb wAich nwMridh ~+9~ d» uny a N~ ua~ Nw~of, vndaw
tM writNn cawnt of 1M Monp~pN. and iw 1M ~wM of MY vio4tan a~nea~W a violaN thif st~pulNian Mis nwr~WY~ ~nd ~11 suna s~cwed hM~bf? sMll iw?~
w~dia.ty b.ooi.. dw «~d co0.d~eb u rr opbn ol ~h. Ma+y.y...
13. It h w~cif~c+lly prNd Nwt tiwr i~ M M» ~uw+c~ of ~his conu~cf Md tlwf ne w~iv~r of rry ob:ig~tion AKMS+d~r a d Nr oWiyNion s~cwed Mnbr ~hatl at +~rr
t~en~ M Mld a b~ ~ waivK of tM hrnn h~rw! w d Mr irotn~n~ s~eur~d AM~bp• i
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1!. 1/ fonclosw~ procwdnq? e1 ~ny s~cond rnortq~p~ a s~cond tnnt d~~d or ~nr iun:w I:~n of any kind shouW b~ imtitv~ed, t!y Monq~qe~ nwr. ia opGon.
tn+erdi~fdy a tlwreafMr d~clw this mortp~p~ and N» indsAadn~as a~cured Mr~M dw and wraW~ forthwiM, ~nd ~r ~t iH aWion aoc~aA a iohclo~ ~his F
n+orW~O~•
1S. Te tM ~sNm of th~ Ind~bNdrws~ of tM Nlorfy~pw w tM Morty~yN dnuib~d Mnin a s~cur~d Mr~bY N» Matp~y~~ is MreAY s~Eroyahd ro ehe lien or
liana ~nd a fM ripha of Mr owew~ and hold~n Ma~o! o! ~~ch ~nd ew~~ nareq~q~ Gen a aMr innMnEr~nn on ~M 4nd dauib~A Mrein which i~ w~d .nd/a
utisfi~d in who!~ w in pM out of Ny pace~d~ oi tM Iwn dnvib~d Mr~in or s~cwed Mrebr. ~rd rM rHp~ctivr G~ns d said aw~~p~9es. I~s w otM+ ~awnb~nca
sMl! b~ and /M. ~a~n~ and wcA of ~Min Iweby is p~urwd and sMll paas a~nd M Ae1d by ~M Monp+oM MrNn a~ wcwiy for Nr a~d~badnas to tM W1or~p~q~~
her~in deuriMd a hereby s~arred, ro tM ~ e:tem ~hat it wwld h~v~ Aeen p~sawd u~d wadd Asve been p~w3 w ~nd b~n Mld bp the Mortp~q~e Md i~ been `
duN and r.y~,lrh ~s.~d, n~mf«..d. aN ovu and deliwr~d unro tM Nlorey~qe~ by swwaa de~d of a~sipewmM notwithsqndinp ~M f~ct tMr fM san~ en~y be ~
utisfyd ~nd cu~nlNd of racord. it bei~q Nr inknuon of tM p~rti~s haelo Ma~ ~h~ s~nw w~ll b~ utisf'wd ~nd cwrcdhd of fKWA ~!~M IIOldfft tMreaf ~f u a0out :
rh~ tinw of tM r~cadn9 d Mi~ ~norfyap~.
16_ To p~y ~II ~nd sinquSu th~ cosb, cMr4es and ~xpanses, includiny lawya's fe~s, reawnabh incurred w paid af any tim~ by Ihe IVAwt~yN, b~cauM of
eM faitws of th~ Mwt~qa ro par(orm, comply wi~h ~nd ~bid~ by eath and every th~ stip~latiom. a9reemenb, cwd;fions, M,d covan~nts of said promissay
note ~nd this dNd, a ~ithu. and ~y wch paYm~nt shall QNr in?e~ut fran d~b ~t 1M def~ulf raq pwid~d in said promiawry nofe. . Y
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17. Wh~n ~nY awio~mt of we.~y b~ Wid bY f!r Mortq~qor to 1M Morty~p» w~r tM t~rms ha~d ahall b~ in default, or ahould N+~ Mor?9a9w de(wit in ?
•ny of tM oNw /area, provisiom or con~Kar ot thia Mwtyp~, tlyn ~nd in ~h~t caw tM Mor~p~~ ahall Mv~ tlw riyM. wi~fwu~ na~c~ to tM Matyaqw, w
colkct ~nd rsteiw horn ~nY hn~M a I~ssN of s~id ~nwt~ped pewwsu f!w r~nn, issues and profits of tM rwl ~sNb her~by ww~~q~q~d ~nd ~M i.oprovem~nh '
Mereeo, and b yiv~ propu renipfE and aequ~ltrrc~s /Mr~(w. and ~ftN WYieg slt eannus~iom of ~eqr r~nul ~p~nt edMetiny tA~ sa~. and ~nr r~asoeabl~ ~namy's
fMS ~nd oNew nec~af~ry ~ap~rws incu?r~d in colbcliny s~. b~pply fM pocerds of svch celleniom upon ~n~ indtM~dn~as, obliyat:on w li~bili~y, ot the
Mortqpor Asr~. TM iipM qranted Mw Abrtp~qN uidr Mis paraqnph sh+ll b~ in ~ddiuon ro, snd slull nof li~nit a reshict. ~nr otMr ripht a ri9hh p+arued
~I rh~ 1Norfpry» in d~is Nbny~p~.
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~ 1a. If ~M Maty~pors a~ the tirn~ of mckirq Mis Monyp~ or wbsp~~nt tlKr~to ak~ a» lif~ insw~nc~ desiyewtinq ~M Morty~qe~ Aerein u benefici~ry w~tA s
comp~nY ~ppovld by th~ Mwty~pN p psiqns policies to IM Monq~ya+ fW Ih~ pwpos~ of utwieq tM ~nwtp~qs IWn F~erfbp secvr~d tMn 1M Allortpapt~ ~ASII
~ hsve Mw r:qAt to p~y arqr p«aiwn aocruinp widu uid policies, and ~II swna so e~oended sh+ll be ~dd~d a«+d bta~r • pM o1 t1w pinc:pal indei~tedmss s~cw~d )
s bY fhis Mort9p~ ar~d shall b~ paid bp tM Mortq~gw to tM Mwtyayee in tw~M ~wl consecu~ive enon~hly instailm~n~s, tl+~ fint .nonNJy :rqbtlm~n~ to be psid n• ' ~
t Wrt of tnd in ~ddi~ion b th~ nwnthly p~yinanf dw ~r this N1wtq~qe in Nr first ulend~r wanrh followinp fM ~ap~ndnq of uid sum. Such twm w ~~pa+ded
~ ro be~r .n~uest ~t fh~ r~M at wh:cA inhres~ is p~y~bN u~wn said pinc~pal ind~b~ednes~ ~nd rM li~n of tAis Allwty~q~ sMll ta~~nd b and a~tw~ IM swns w esptnded
eoqetMr wi~h inlerwt ~Mrton as 1wrNnbtfw~ W~vid~d.
~ 19. At mortp~y~e's option. togeH~sr with and in ~ddtion to the monMh P~Y~t of principsl u~d inMrat paY~M w~der IM t~rms of 1i» noM s~ax~d
hsr~by. Morty~qor shall pay ro Morty~yN esd~ moeuh until ssid no» is fully psid, ont-twelhh (1/1~ of • sum eqwl ro the annwl pnmium due for fir~, e:tended
i ng n9 the mo~9+9~d W~~Y. P~us bap and asfeasmenb Mxt dw on Ih~ mort~9!d DroPSrtY
j cow~~, and oNwt haza?d insw~nu iotludi Ilood insurancs, cowri
(all ss ~stims»d by Mw?qsqee) luf all sums alrcady paid thsr~fw. snd b be divid~d by the nurnba of months ro el~pse piwr M th~ d+t~ when w~d~ t~:es ~nd
suessmenb shalt b~corn~ ddinquent. Said sums shalt be htld bp 11Aortysyae in trust a u~d~ad ro tM pincip~l of tM loan, to paY s+id inswanc~, h:a, snd
assnsmen» u~d shalt be ~pplied on tM psyment tf~eof wMn dw. My •:cess Mld in tnnt by AAortq~yN wMn wid loan i~ ~ paid in full sMll l» peid to
Monqapo~, w hy ~ssi9m, or persa~sl rpresentatiw~. In tM went of • de/~uh w fu~clowr~, s~~d s~xns held in hwt ney be ~pp~iee~, on ~nY cosh of dnnayes
svstain~d ocrv~sction with the coll~ction of tM note secured h~reby wheMer by s~~t, fw~c{osur~, a orherwise. MortPy~t nn1 fraa tim~ to tirn~ at its op
rion waivl, and after ~nY sucA w~iver. r~ieqt~ft env or a!1 provisions hNlof rtpuirin4 auth d~posib, by notiq a Mortp~yor in writiny. Whil~ a~Y aydf w~iv~r
is in effect. Mwty~yor shsll pay ux~s, useuments snd inawsnc~ pruniums u herein ~IsewMr~ provided. ~
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~ 20. Mortg~qw sh~ll comply with the povisions of sny lesu, if this mwtQsqt is on • teasehold. If this mortq~qt is on • co~dominiwn txii~, mortqspor shatl ~
perform aft of mwtyayw's oblqations w+der d+e d~da+arion of condom~n~um a muter deed, the by-Iaws and rpvla~ions of the condom~n~~m projec~ ~nd con- ~
srituent doannents. Mwtya4or fwther cwen~nn M~ar~he ~nd ~he ~ssociation rapons~bM fw the oper~rion of the condominiven wiN observe all of tM P~ovisioeu
~ of tht u~d declaration, and any smendmems rher~to, sod of the Condom~nGvm Iaw of the srare. ~nd will perfam dl obtipstions eherevnder: ~nd a failvr~ to do ~ {
~ ao whicfi is not cw~d w~thin 3p days sfter notke given by ~M mortq:gee to the 'nonyagor snd the uid assacistio~ shall constiwte • defwlt under th;s m«t9+pe.
Morty~yor furthu specifKitly cown~nts, but nw by wsy of limiation, tM1 he ind the ss~oda~ion w~U observ~ all oi the provisio~s of aid declaration of condo- ~
F minium rel~tinp fo inswance coversqe.
~ 21. IYlorrqsqor fwther covensnb s~d ay~ees ~hst st the request of Mortgayes to fwnish a usndard termite bond insurirg a9~~mt dsm~ye by iniesht;on on ~ ~
~ rhe buildings now w hereafter locatad on the morigaqed propertY, en such amounri and Mrms, and with such cwnpany ss approved r+d rpuired by Mutyiyer, ~
and in tM event Morty~gor does not comph wiM Mis cover.ant Mufg~gee sh~ll hrn the same riyhb ro obNin ssm~ as inswance coveraye unde~ cvMe+unt
~ ;t3 Aawf.
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~ 22. That in ehe tvent that this mwtyaye is 9iven w uc~re s constn,ction ioan, f~ilw~ on the psrt of ths Mwtyayor o? the Mwtyaqor's contractor, architect,
enyme~rs, or s~bcontranors to compy wiM tM terms of th~ Constnx~ion loan Ayreunent of even date huewith, which is by rcference inco~pw~~ed herein, sFull,
~ ar th~ option of tha AAortpayee, c«utitut~ a d~fault Mreund~r.
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~ 23. If IM nartq~p~d p«nises & o~hw than s one to fax family dwellirq, th~ Morty~qw covenanh and ~yreu th~t M will, not 4ter than thirly (30) d~ys
afte~ tl~ end of ~he fiac~I ywr. fumisA ~nro tM Asaociation a complets ~nd ~ocw+M balanc~ s1~eN and Wofit and loss stNement refbcfinp th~ Mwtyaqoe's Ut
~ b;l7ties as vwll u prolit and loss for tM fiaul rix. ~nd aucfi bdanc~ sMer ~nd pofit and loss ststtnNnt ~hall b~ p~p+nd by a nrtifi~d public acco~wdaM li-
cent~d in /M SfaN of florid~, ~nd ~MII be artifi~d e beiny oorr~ct b~r sucl~ artiii~d publit ~aawrtant.
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