HomeMy WebLinkAbout0520 . 0' to h~r(wm, compl~ w~M ~nd abld~ br ~xh and every ~tfp~iation. ~pre~ment. condit:on ~nd cova,an~ in ~~~d qomis~ory nor~ ~nd dced ~N fo.tA.
i
7. In M~ ~v~nr rM ~uri?d~cr:on ol tM U. 5. Ghtrkf ~Cowt ~A~11 a invo~d bv a apa~ns~ ~M M«~9+9a ondw ~ny of ~hr prw~sioni ot ~M F~d~rsl bank-
n,puy Ac?, auch ~u~on. wMiM. votunr~ry or invotunlrry on ~M pu~ of tM Monasqo?. ?MII autom~riully, wirho~~ nonu. ~ccekr~r~ ~M matvrfty o( all s~ms
of mon~y htn~n deunbed aed ~ac~nd, and ~h~ s~m~ s~s~l ~Mrwpon b~coen~ due and pay+Dt~ fa~hwl~A a i~11y a~ fl ~he s~]d ~yqrpat~ tums of monty w~r•
or~gin~l.~y stiputatW ro b~ wid on ~uch dar~.
To d~live~ a s~id Ma~9age~, on a befx~ Nl~rch 15ih ef tKA ylu. ua ~~c~~pb wid~ncinq th~ wY^~em of ~~t tawfully impoud ?~ra fa iM prec~dinq •
~at~edu y~sr. ~nd ro d~t:vN ro said Ma~q~ye~. ~K~~pb ~viwnunq ~M wYr.v.,~ of all Uens ia p,blit improvement~ wnhln n~nNy (90) day~ ~f~N ~M sarn~ t?+~11
btcwne du~ ~nd paY~~l~. ~nd to paY or d~scharq~ w~~Ain n~nsty i901 day~ afta d:re dae~. ~ny and ail govnnr~~nt~l Ic.~~s tRat mav o~ tM marpaq~d
prop~rty. on thif matpap~ w nof~, a in ~ny otMr way ~nultinq irom tht MwtQ+we ind~btsdn~a ucwed bv this mupag~~ anel ~l N.i~ c^^d~t•ort Ee r.at ca~t~'~r~i
w;tA a+,S yaiwuwd. iaid mwip~qN maY V+Y svch wm w sum~ which shall btcom~ pa~~ of M~ d~bl s~cur~d Sy rhis mor~y~q~. ~nd sAall be~r intN~s~ ~t tM d~Fwlt
raM prwid~d i~ s~id pomitarY rwn parabl. monthly until paid w s~id MorroaqM maY •lact tMt utd mat9ap~ d~bt tfitrwpon b~com~ dw ~nd pay~bl~ fw~h-
w~tA. •
9. h is IwM~r cown~n»d ~n.i a9~Nd bY s+id putia ~M~ in rM w~nt of a~vi1 Eanp ilutt?ut~d fo 1w~clos~ tha mortq~q~. ~1+~ Mon~pM ~MII b~ ~nt~~Nd ~o
apply p~ny t~w+~ pMdinv auch tondoaw~ svit w~M <wn Mvw~y iwudia~on ?A~?~of fw tly +voo:n?~nt o1 ~ nnivN of ~11 and ~7nqi,IM tM mwtWOd w~b.
and d dl dN r~nA. i~cwrw~, pofifs. i~~u~s rnd rwa~wf N»rwf, ha~? wAabowN ~owu deriwd: ~nd fM~~u~wn ie if Mr~Ey ~,praN eovee~n~~d Md WrNd
t!W 11N tOw1 ~M{I 1pMwilA appoiM • r~lw ol said n~a~y~~d p.ow~~y. atl and unqulaa. ~nd ol sucl+ n,+b. ~aonw. pof~y, i~~uh end nwnw MMw1, from
wh~tte~v~r wurn dwiwd. wid? Nw wwl powp~ and dutia of ?~c~iven in G!~ uus: snd ~ucA +oDo n~w+snt Jnll M~ M f.id~ cowf ss •~n~tMr d snic~ r:9lN
ro N» Iriortp~pN. ih wcchsan. hqd rpna~nur~vN o~ ~u~qro. and wi~Aou~ r~h~~na a tM ~d~vuacy a iMd~pwcy o! ~M v~lu~ ol M» property Mnby ~.w~tq~p~d,
a w dw solwner or inwlvtneY ol ~M MortWVa. and that sueh eM~, profiq. ineo~. issws ~nd rw~nws tA~11 b~ppli~d Dy sueA ne~7v+~ w N+~ p~ynNnt o/ tM
w~orpay~ ind~bNdn~s~, can ~+d ctiarQw, ~cc«d~np a Nr adw of ~ucA cow~.
10. Ii all w any psrt of fhe woPK~Y a an inror~st M+Hein is wld w ~r~ns(err~d by mwty~gor w~thwt morty~q~e'~ pr~a wrinen cons~nt, eicl~ding (~1 th~
~r~~tiar: of a 11an o~ cocvmbr~nce subwdinate to ~Ais mortq~ye, ~b) ~M crea~ion of a pu~ch~w money ~ec~riry interpt for lwa~~iwld appGanc~s. (c1 • n+n~tN bY
dev7ie w descent, or by operatioo oI bw vpw~ rM death of • jant fenae~, w(d1 ~M p~~nt of ~ny kndwld mr~~cat ot tMe~ ysa~a w ksa no! tontsieit.p ~n option
m
fo pxchase. mortqages maY. at it~ opnon. deciue all the a::ms secu~ed by Mis morty~y~ ro be ~mm~d~ately dv~ and wr+bk. Mo.~q~9ee s1++11 Mv waiv~d such y_.
option ro xce~erste if, prior ~o ~F+e aale or tranafcr, mwtqsgae +nd tl+a pKSa+ to whom ~M w~~h >a b~ aold a transiensd rexh preem~ro in w~itirp
rhat the crtdit of avth persor: ~s sat~sfx~ory to Mor?~a9ee a•.d rhst ~he int~~est pay~bl~ on th! sums stcv~ed by Mii mortyag~ shall be ~t such raq as Maty~pN
sMll teqwst. •
11. TA~~ in fM went tM w~miati Mrebp mortpayrd. or ~~y parl ~haw/, ~Aall b~ coe~deTned ~nd t~k~n ta P~~e vN undN tl» powN of «nin~nt donri~.
rM Mor~p~~ sMll Mv~ Na ripAt ro d~and tha? dl da:n~p~~ aw~rd~d /a ~M uk~np of w d~~~ ro aid p«n:sn ~MU ~ paid ro M» Mo.~p~p» up w N+~ ~~+n~
~hu~ ww~~d on Ma wa«w9~ and a~ ~M opeia? of ~M Monp~y» nwtl b ~onli~d vvon Nw wYnrnq W~ payabN ~Mna+.
14. iM wo.tp~Qa b~nd~ hMw+~dt not w~r~et or vMn~ie to M K~n~d ~nr mw Eu~tdnqs on ~M awnisa hN~in mortb~y~d Or fo ~dd b W Ps~n.if b b~ ~dd~d
ro ~nY o! ~M ~zb!MY ~~^Wo~+~s tMnon a en~k~ +nY eh~e~qn w~Ih~ationt in s+id i~qw~+n~nb wA:eA nrN~i~Ilr tf~snp~ M~ sa~ne a~ va~ rMe~ol. w~MaA
tM vrritl~n cons«+f d tM Mw~q~pN, and In tM tvent of any vid~t~on a manpt to v~o4a th~s p~~tian thi~ na~ty~y~ ~nd all fun+~ s~cwed Mreby aMll iin-
~tslp b~co~ dw and colba.bN iM option o~ ~M ~Ao~+y~pM-
1~. h is ~p~cif~ull~r prNd ~M~ t~int i~ of tM ess~nc~ o/ Mis connact and tha~ no waiver ol any ob:iy~~ia~ Mrwnd~r a o( M» obliq~t~on Hcwcd hereby ahall ~ny
rirn~ M htld w b~ • waivw of tM Nrna Fw~ol w of ~!w iMhume~~ secw~d 1+tr~by. ~
14. 1} foncbsw~ pocMd:nys o1 ucond mwtp~p~ a Ncond truu d~~d or ~ny jvn~or li~n af ,ny k~nd ahould D~ im~ih,»d. ~M ~Mar~9+se~ may. ~r ~n eptan.
imnwdiat~ty a Mu~+her d~c4n t1~is mortp~p~ snd fh~ ~ndeWrlrwf t~cwed Fwnb~r du~ ~nd wr~N~ tathwid~, ~nd n+~r ib eP~wn D-ocetd ~o ia~ctoae ~Ais
~?9~Y~•
13. To th~ ~rhm of tM fnd~badrwaf of tM Mwep~yw ro tM lMwfy~ps~ daa~bed Aert~n or utur~d Mreby tlr Mortpape~ is here6y u,broy~~~d a she Iwn w
lien~ and ro ~M ri9hb ol tM ownM~ ~nd holdas d+ereof of e~cA ~nd twry erwr~yap~ lien a orMr irMxnManc~ on th~ land dnc~ib~d ha~in which if wid ~ndJw
satiafi~d iw whob or in paA our of fM poceeds of fM b~n descnbed he~~in a ~~cwed Mrebr. ~~d tM respctivt liem o1 s~:d ~naty~yes. 1:«+s w a1~e~ ~ncu1nb~ances
ahdl b~ ~nd tM. sa+c~ ~nd wc1+ o! Mrm Aereby is p~ser`~d +nd sMlt pass ~o ~nd b~ Mld by N+e Mortp+yn Iw~~ as trcwi~y fw t!r indeaqdness fo th~ MorrqpN
her~in describ~d w her~by aecwed. b ehe a~~ e~tent ~hsf it woufd hsw been pr~s«v~d +nd wou?d Aave beee passt~ b ~nd M+n MId Dy ~M Mwrpaqee Fud it been
d~ly and ?pularly ~~siqn~d, tr~nsfen~A, s~t ove~ and deliva~d unro tM !A«ty~qe~ ~y ~p+rare deed o1 sasiynm~n~ notw~ehspndiny rh~ fan ~Mt tM s~m~ m~y be
aa~;sf~d vd cu~cdbd of ntad. it btinp tAe ~n~en~~oe~ o+ tM Parties herrto tMt Mt sam~ w:ll b~ a~t~~(ied ar~d c~ncell~d of rKad Ay ~Ae laldsra tt~r~ef ~r or about
tM tim~ of the .ecwd~ny of tM~ mor?p~pe.
16. To pay sIl and sifqulsr tha costs, charqes and expenses, including iawycr's fesa, resso~ably incvrred a w~d ~t sny tim~ by ths Mortyagee, 6ec~ute of
rhe isil~.a of the 1Nort9sgor ta periorm, comply with and abide by esch and every the sfip~lsridq, +~retmenri, conditiona, at~d covensnb of s~id plomistdy ~
note ued this dNd, w either, and w~ry auch p~Y+!'.a~+t ahall bear ~nterest from d~te st tM dei~ult n» povided in ssid promissory not~.
1~_ Wh~n ~nY of mary b b~ ps~d by t!r Mortq~qe? ro tM Mortg~qN wder ?i» ~e~ms M.eof sMll M in d~f~ult. a sAovld ?!w Mortpayw de(wh in
any of tM otMr tmu, prov+siem a condit~oro of Mis lYlo~tqap~, then and in Mar us~ ~he Mo.egiye~ shal) Mv~ NM riyht, wi~hour raGce ro N+e Monpa9o?. ~o
cot~ect and receiw iroeu ~nY raw+t or less~e o~ uid .wo.to.e.d or.w.:... d.. : • . - ~ . . .....:,r ...v.~yy~o sna •i,~ .mpwanen»
' tl+ereon. ~nd to yiw pop~r nc~iph ~nd ~cqvin~ncn tl+er~fw, u~d after paYinp •II convni»~o~a o( anr nnfd pent cofkctinq tM urrw. ~nd anr reaaonadl~ ~nwnep's
' fees and odrr neceas+ry •aqm~s incwred in col{~ct:nq sanw. to ~ppl~r fh~ procced+ of s.ich colkcnons ~pa~ ~ny i~deEt~d~nei~, obt:y~t~on a 1~~Dil~ry. o/ ~M
Mortq~yw here~ntfa+. TM ~i9At qr~nted ~he AAonp~yn undsr this paryraph shall be in add~uon w, and shr~l not limit w r~ahict. ~nY o~?+N riqhf p nqhh qr~ted
~h~ Morepa9N ie Mia Mor~~q~. I
1Q. If the Ma~p~qws ~t tM ~inr of entk:n~ tAis Mw?qaqe a suEs~RRwnr thsnro Nk~ out Id~ inswaK~ deaiqn~rinp tM Mafqagea Aereie ~s blM~KiYy with a ~
compinY ~pMOVed ~!w Mort a as~i I'ci~s to tM Mor~ fa tA~ pvrpoa~ oi sscwin ~M mwt loan hereby secwed. ~hen tf» Mwt •~Aall `
~ W9N 9'~s Do ~ 9~9N D W9~ W9~ ~
have eM r~qM b WY +M~ w~++~iwn accr~inq unda s~id potic~h, r~d ~It sums so eapended tiM~l b~ add~d b a~d becanr • pKt ot rM pincipa! indeWtdne~a sscwed
by Mis 1Norfqaq~ awd sMll b~ p~id bq fM Mafq~qor to ~M Mw~psye~ in twrlv~ eqwl conwcv~ive rnomhly inst~llmenh. ~M tiN na~rhM i~n~~llm~nt to b~ p~ld as • ~
part of tnd in add~tion to tM moe~hly wyenent dw ~n+da this Mwty~ye :n ~M fint c:lendar mon~h followirg ~M ~:pendinq of ~~:d awn. SucA wms w e¦pend~d ;
io 6esr imaesr a~ tM ~~n a~ wAk~ IOtHH1 is p~YaW~ upoe said pincipal indtbtedness ~nd ~M Gen of th~s Mwry~p~ ~hsll fal~nd b ~Od fKUr! tA~ sums so capended
~ toqlihlf witll ~ntN~7t I~NflOn b ~1tI~~f16t/p1 Q~~Ii~d.
4 .
i 19. At morey~pee'a optia+, foqaMr w~rfi snd in addi~ion ~o rhe nwnrhly p~yment of aincips! and infaea~ wr+bk under the rerms of rM non sen,.ed
j her~by. Mori9sqor shall pay ro N{ortq~yee each monrh unt~l said nW~ ~s futly pa~d, one-twelfth (1/12) of a s„m eqwl to the annwl praniwn dw fw fir~. ~xtend~d
! cwer~pe, snd ofher haard inswant~ inclu~iny flood insuranc~, coverinq rhe mortysyed p~operfy, phn rsxes and ~ssessmetffs ~ett dw on tl+e morigayed WoptrlY
; ;all as estimated bY Mwtys9e~) leu •II sums already paid therefw. and w be d~vided by N+e number of months ro el~pse prwr io tM dst~ when such u:es and
~ asseurnents shsll becorr.e delinQuent. Said sums shsll be held by Mutgsyee rrust or credifed to Hx principal of N+e loan, to p~y said insw~+ce, taxa, and
asseu+nents ae+d shall bs spplled on tM payment thereof w?~en due. My e=cess Mld in trust by Mortg~ye~ whsn uid ban is psid in .full sh~ll be paid to
E Mortpspw, o~ hif auigns, w peisonal representstives. In :he evt~t of s de(wlt or forecloswe, ss~d swns Mld in t~vs~ msY be app~i~d on ~ny costs of d~m~qa
4 svst~ined in connettion with tM col!ettion of the note setursd hereby wherher by suit, fwetlosw~, w otherwiss. Mortgaqe~ rruy irom time ~o time at ih op~
( r~on w~ive. and after srry such w~iver, reirutsre any or aIl provi:ions hereof reqv;rinq svch depos~b, by ~otit~ ro MatW9w in wririnq. Whil~ ~nY sucA waiver
~ ~s in eff~ct, Morty~qor shsll pay tixes, usessmen~s and i~sw~nce waniums as here~n 4lrrrrl•_+r r!!wiar±.
! -
p, Nbrtgsqu shsH comply with ?he provisions o# ~ny Iease, if thls mut9sqe is on • le~sehold. ~f rhis matqaye fs on + condominiom vnif, mortqaga sMll
~ perfwm all of mortqayd's obl~gations w~der th~ declaration o~ condom~nium a mastcr deed, the by-laws and reg~l~tions of fh! co~dom~ni~m projKt end con-
j sr~r~ent documenta. Mortq~qw further covenants rhar he ~nd rhe assoc~ation respo~sible for fhe operar~on of the condominium will oburve all of ~he prwisiona
~ c' the said declaration, ar.d sny amendmc~ts eheroto, and of rhe CondomSnivm !aw of ihe state, and will perfo~m all obt~gan~s thereunder; and a isilwe to do
so wl+ich is not cvrtd within ~0 days afte~ not~ce 9~~+ bY ~he monyaqee to the rorlqaqor ~nd t1+e ssid associat~on shall consr~tute a dcfa~lf vnder this meriqaq!_
Mortqgw fwther spec~f~caiiy cwenants, but not by wsy o~ limitat~on, that he and rhe assuiat~on will obscrve all o/ rF~ pror~s~o~s of said dec~aration of condo-
miniNrt~ fQlafiflQ t0 infwi~lt! COVlrigt-
41. Morrgsqor funher covenants snd ayrets rhst at the req~est of Mwtgagee to furnish s standa~d ~ermite bond ~ns~xirg sga~nst dama9e by infesNtion on
the b~ild~r.gs now w he.e~iter Ixated on rhe mo+i9a9ed Property, in such amavnts and trms, and with such cortwany aa approved a~d req~ired by Mwtys9et:
and in tht evenf Morfgago• does nol comPty w~tF. rhis cwenan~ Nbrtgagee shall have the same righ~s to obtain same as ~nsurance cover~ye under covenaM
«3 hereof. 's
22. That in rhe ewent that this mc•tq~ge ~s 9:ven ro secure a co~strvciion toan. (ailwe on th.e psrt of e~e I~Swtgsgw o~ rhe Mo.:~agor's consractd. architact. !
engineers, or sub-contrx~us to comply with the ttrms of the Constrvttion Lcar Agreemene of even date herewirh, which is by reference intorporated hercin, sFyll,
ar tM optian of tF.e Nbrtqagee, constit~a s dciauh here~nder.
23. If eh~ moreqap~d pnm~s~ ia otker tha~ s o~a to (ovr fsmity dwefl~no. .!Me Mortq~pw coven~nts and s9rees that he will, not lita than thirty (30) bays
aNer the end of ths fi~cal year, fum~J+ vnto tM Assaciat~on a mmpkre arsd ~ccursr~ bslance sheel ind profit snd loss sutemen? refkrtinq th~ Mwtyaqw's lir
b;4;ti~s ss wsll u potit snd los_ fw ~he fiual yeu, and such balance sFuer and profil and loss shten+ent shall be p.epar~d by • cNrified public ~ccountant li- -
~ censed in tM Sq» of Florida, and. sIwII be certifi~d ~s beiny correct by such certified pubPc ~aa;ntsnt_
~
~ 0 Q _ ~
_ BaoK ~44 P~~E 520 ~
~
: _ ~ . ~~a~~
~
~
~
~ . _ .