HomeMy WebLinkAbout0640 p. lo ckrform, can'i,~~r w,th ~,~d a1:,Jt by cach r.:d ey~ry f+vLlU~on. ~y.N.Mr.~, co~.a,e.on •nd cc.+e~,ant m~a~d Pron,~~ecvy noie ~nd d~td ut iunh. r
7. In ~M wero ~M i~r:~d~c~~w~ of th~ U S. O;stri:r Cuu.t ~ha11 bs ~nvcl~ o~ ~g~ n~t ~M Mcvtysyw ~~dtr ar+y ol m~ Prov~t~ont ol ~1,• fed~~d bank~
r~ptq Ae~, wch ae~~on, wh~~hN voi..neuy a. ~n.o:~nary ~n rFw pan ol eM AAore~ayor, ~hsll ~~ro,:~~~,c~:ly, wnhU~t ~w~a~. ucaerot~ ~h~ ~rytur~ry ol all ivm~ 4
ol mor~ey ~ere.n de?cn:.~d and s~c~~ed, and tM aame shell ~herr_~pon beco~ne d~e and payW'• fa~h~v~~A ai I.,t!v +s ~f iM t~~d ej9~ey+q wm~ a{ money were
or~y~n~liy U~p~let~d ro t~ P~~d on ~~ct~ dah.
B. To d~l~re~ lo said Ma~paqe~. on or befw~ March i5t~ o( euh yax. ~a. ~ecew~s av~dencinQ th~ p~rrrwn~ ol ~11 I~wtully impoied ~~.~s 1w the P~K~d~nq .
aalendar y~~r, ~nd ~o d~L~~r ~o sa~d Morr9aqct. ~~ce~p~s tv,denc~nq tAe psYrr.ent ol all i,~n~ la p~Elic impiuv~meats wuhm r.~nery i~) d+ys aher the aa-ne shill
becom~ dw and pay~bl~, and to paY w discAarQ~ w~~hin n~ne~y ~90) diys afre~ dv~ da», ~ny and +~I yovernmtntal lev~~t tha~ m~y pe mads on rh• ~r,o.tgaq~d
proputY. a+ ?h'~ nro~tqa~ u not~. or in ~ny o~ha w~y retulnnq (ran the 1Mortpaoe ~n~bredne» sxurad ~y ~h~s ma~yaqt: and ~h;s cund~t:an b~ not ;omo4r+f
with and p~rform~d, u~d mw~q~ye~ m~v WY ~~h s~m w wms w~+ch ?Aa~l bxoms pan of the debt s~c~~ed Oy ~!~~s monqa9e, and sAall b~ar mrrrei~ a~ rhe defaul~
pror~ded ~n i~id prom~~sorY noN paYabk manrhly un~il pa~d or aaid Mo+ry~qe~ mar •I~c~ that s~id monyaye debt rMrwpon becane dw ~nd psyabl~ (orth•
witA.
9. It is Iwrhr co+.e.nr.d ~nd av~e.d br ~+~d wn~•s +M~ in ~h~ ~wnt of ~ iuit b~inq instihned w ia~clw~ Mi~ ~nwtp~q~. tM N1wtq~yN ~h~ll b~nti~hd ~a
~pply ~t ~nY p~nd~rq ~~;ch /or~cb~w• w7t a tM cow~ h~viey iwiidicfwn tAa~o! tw ~M ~ppantm~M o1 ~ r~ce~wr of ~II ~nd ~~nq,1u tM rrwrtpaq~d pro~ny.
w~d of ~11 tM r~nM. inco~w~s, pofiM. iuwf and r~v~nwf U~w/, 1ron~ wMt~otvtr sowc~ d~rir~d: Md N~~upon i~ i~ A~aeDy ~,wa~h cwen~n~~d and p~Md ;
~M~ fh~ cowr J~+11 fpMw~~h ~ppaM •~~c~~vN of N~d rr.a~p~y~d p.ow«Y. ~11 ~nd unput~r, ~nd o1 s~ch nnp. incww~~. pofi~s, ii~uN end nwnw M~r~of, fraw '
v+ha~w~vw sourn dMiwd, wi~A tM uswl pow~r~ ~nd d?ti~s of r~c~iven in Gt~ uus: ~nd ~~cA ~ppo ntms~t alult ~ inad~ by ~uch cow~ u• m~nN o! snict ~~pM
ro H» Abrfp~pM, iN ~ucc~s~w~. bqd npn~m~~~vN w us~q~u. ~nd ~rithout ~~fer~nc~ ~o fM ~d~w~xv « i~r o/ Nr~ v~lu~ ol tM propaM hMeby mortq~q~d.
w ro the wtwncy or insolwncr o( t1» Matp~9o?. ad dw~ sucA nm. Wof~n, inco~. ~uws ~nd r~wnuN ~lylt b~ ~ppli~d by ~vcA r~c~~wr b M» p~yn+enf of 1M
inwtpaq~ ind~bt~dn~ss. cwb +od cMrpN, acwd~np M tM adM d aucA courl. .
10. I( a!1 0~ ~~y p~r~ o/ ti~e prepaty w ao inrae~t thertin is sold or transfared by mwfqrpa w~rhov~ mwtqaqse s pr~w wrieen cons~nb eadudinq th~ t
crearioo o( a lien or e~+c~m6~a.~+ce svbud~na~t to ~hie mortype, (D) ~Ae creauon oI a pv~cAaw ~++a+tY aec.,rity ~mtrest (w hoiselwld appliances. (c) s transier Ey
dev~ie or deacenr, w br orx~af~on of law upon the death o( a io•n~ tenw~t, a(dl the yrant of any kase'ald ~n!crest of three yesn a le?s no? cca~+uunp +e op~ioe~
ro purchsse, mo~tgaqee may, a~ ~b ophai, drelare all ~ha sums securcd by this morigap~ ~o be unn+ed~ately due and paY~hk. Moitgage~ slu~~ Mve w~ived a~ch
opt~on to acce'erare ~f, priw eo the iste or rrensfer, mo+tyeatr and Ihe c~•+a+ ~o whom the properfy is to be sold a Irensferred rexh prtemeM in writi~q
+~at the ued~~ of wch persen ls satnfairwy fo Morrgaqee and tha~ ~he ~nte~eat payable on the suma aecurcd by this mwtqaqe iMlt De at a~ch ~sN as Mortq~9ee
sha~l request. '
11. Th~1 in tM went tM pnmis~a Mr~by matq~p~d. a ~ny pNt tMr~of, sMll b~ cond~~nned N+d t~k~n fa public uN undM tM povwr o1 ~nin~t Oow~~in.
rM Mwtp~yM :A+11 Mw tM ~iql~t ro d~~w~nd Ma~ s~l d~~qs ~wMded for ~M t~kinp ot or dwn+q~s ro~d p~ws J~I{ b~ Wid ro ~M Monpp« u0 to tM ~moi+nt
tMn ~e~v+~d on tFia awrt9+9~ snd ~t M» op~ian of N+~ Ma~paq» ~y b~ woli~d uow~ ~h~ wrrme~b bs~ p~y~W~ tlwrwn.
lt. TM nwnp~9w Aenda h„naelf no~ to N~ct a permit to b~ ena~d ~nY n~w ~vildnos on ~M p~~iua Mr~in mw~y~g~d a ro ~dd to a pe~T~t b E~ added
to ~ny o! MM •aist~np improv~en«+a eMr~on a m~4~ afp ehanp~a a•Ita~tionf in s~id i~.wrev~m~eet~ wA:eA nN1Ni~ly eh~npe fM u~ne a rM uu tMrwf, w~Mou~
tM wr;n~n cens~n~ u} Nw Mo.~y~qe~. and in tM w~nt of u+r vioi~tion w~ttemPr ro v~ol~t~ th~~ s~~pul~~ion Nw~ ~natpp~ and ~!I sw~a s~cwed hK~y shalt
m~di~t~ty acan~ dw ~nd colt~cnbl~ ~f N» cWion ot tM Morty~q».
1J. is ~p~c~f~ully ~yNd eM~ e~~ is o1 ~M ~as~nc~ of ~Ai~ c«++.~c~ ~nd that no w~iwr Oi ~nY pp•~v+~~on Mran+der a of H» obl~y.uon ~~a+.ed Mnby aMlt ar u+~
hm~ b~ Mb to b~ • w~;wr of tM brms Mr~o/ w of ~M iasuuene~t ~ecw~d Mr~by.
14. tf (orecbaws aoc~tin9s of ~ny s~cond monpa~ o? wcond ~rutit d~~d or anY iun~w I~~n of any k~nd sAovld a inf~~tvt~d. +A~ Mor~pK~~ rn~y. i~ ~n ov~~o~.
~mrn~d~~t~ly p ~Mr~~iter d~clue th;~ ~norrp~~ and tM indebadn~ss s~cwed M.~by dw N+d Dar~Dl~ fw~hwi~h, ~nd m~y n ita op~~on pr«eed a 1o~~clos~ th~s
mutp~y~_
13. To t!» ~¦hn? of tM i~b?edn~a~ of ~M Monpsqor w Nr iMo.~p~9e. d.su~E.d her~~n a aecw~d Mreby Nw Ma~y+pe+ a herebr s~boqa~~d eo *M t~en a
I~eni'~nd to tM riqAts of M+~ ownen ~nd Iw!den ~hawf of e~cA and wery ~na~9~4a ~~en a otMr incvmb~anc~ on t!w I~d d~sn~0~d Mrein which i~ p~id u~d/or
utisli~d in whot~ a in pwf o~t o1 tiw proceed~ of tM loan d~su~Md Ae+~in « sec~red Mreby, ~nd Me respectivt liens of s~id matq~qes, litm w oM+er ~ncumb~nces
~h~ll b~ uid t!N. s~.r.• ~nd ~acA of rM~n hereby ii pqerv~d and sMll D~ai to ~nd b~ h~ld Ey Ma Mortq~qea hK~in n pcwi~y (w tA~,rnd~bt~dnaa b th~ Mwtp~qer
I+a~~n deacrib~d a he+~by fKUrld. 10 tM saen~ eaten~ *hae it would Mav~ been pn~e.r~d and wovld have beee~ pa~u~ w ~nd b~en'lrld by~~M Wr~p~y~e Md it been
duty and repular'ry ~saiqn~d, tr~nsl~rred, s~t owr ai+d del~ver~d unro tM Mw~y~qee by separa~~ deaf of ~asiqnment notwi~hsr~nd~nq tM f~ct tA~f ?M s~ene msY be
s~r~sl~ed ~nd unc~tled ol r~cwd. it be~nq tM ~nten~~on o! tM wr~~es he~eto fia~ r1~ s~rn~ w,ll b~ satisfied ~nd C~M~IFfd of record b~r 'M Aoloer~ th~reof a~bovt
r!,• rirm of ~i+~ r~cwd~n9 0( th~s n+oriqay~. nrr
16. To p~y sll and singulx the cosu, charges md expenses, ~ncivd~r.y lawyer's fees, reasonsbly incurred w paid » any time by the Monqaye~, because of
~he failvrc of th~ Mutgaqor ro perform, cornply with and abide by eath ae+d crery th~ at~pulatio~s, ~yreements, ca~tions, snd coveronts of said prom~uuy
noie and this deed, w either. ~nd eve~Y a~ch paymenr shsll bcar ~ntereat trom date at tM detauh raro providtd in s~id proeusfory nob.
17. 1Nh~n +rW aiwounl of ~Y b 6~ Wid by fh~ Mor~p~pw b fA~ N1orf~yN und~~ tM tams I+Neof sh~ll b~ in defwN, or sAouW tM lll{ortp~por def~ult ir.
e~r of *he o+Mr terens, povisiom a cond~aons oF this Ma~p~qe, thN+ ~nd in th~r us~ fhe Mor~yaq~ shall Mw Nw ri91u, wiMwt naic~ w t!r Abrrg~yw. ~o
col+ect and receiw fran any teewro w lessN of uid mortp~q~d ptTisea N» rents, iuuef and pof+n of tM ~NI estat~ hereby mwty~q~d ~nd eh~ ~mpo.~e~nents
rh~reo~. ~nd to q~w poMr receipts ~nd xo~inn+ct~ there(w. N+d after payirp •II commiss~o~s of ~ny rent~l pent colkctiny tM u~s+e. ~nd anr ~eawn~le s~eo~e~sy's -
Iee+ snd o~h~r nec~u~ry •,p~ns~s incurred in coll~ctiny sam~, to ~pply ~M procecda of sucl~ cotttcnwn ~rpon anY indtDt~dnesa," obl~yation w IiaEili~y, o! tM
Nbrryaqw hereund~r. TA~ riqAt qranfed tM Mortp~yN under Mis puaqr+ph shall b~ in add~t~on to, u+d sM1I nol Lmit a restrict, any orher r~qM1e or nphes qr+nted
~ rh• Mor~p~yN in Mis Mwip~q~.
~ IB. If tM 1Nw?p~qw~ a~ the tirry of au\irp ~Ais Mor~q+p~ w u+bs~ownt ~Atreto uk~ out h/~ inavr~nc• desiy~t~nq IM Nbrtqsqet herein ~s benefKisry w~th ~
ccmpanY ~ppoved by fh~ MortWye~ a~ ~sa,pru pol~c.es to th~ Monq~qe~ (w tl~~ pwpou of securinq tM mortqay~ lun hertbY ~ecwed, then rM Mortq~pt~ ahall
~ h~ve Me riqhf to paY ~ D~~T:~ aawirq undw s~id poticies, and ~t! wm~ so e~pended sh+ll ~ added'?o .nd b.com. . w•r of +ti. a~~+c~a~ indebtedne~s secweA
6y ihia Mor~p~y~ and sA+n b. p.~E by MN Mor~pa9o. ro~M Mor~y+ye ~n fwelw e0~a1 ca~secvtive monMly inslaltmenb, tM (int monMlp inslatHnent to b~ paid ~s a
~ psrt o{ end in add;tion to tM monfhly p~ymMt du~ under fhia Mortq~ye in fM fint uiae~dar monfl+ followrtq tM •apandnq of sa~d w~n. S~ch sums so ~spend~d
ro besr ~nt~reat st tM ~~t~ +t w1+~cA intere~t is wr~ ~ i•~d p~nc:pal indeb~sdnes~ ~d iM I~en of ~Ais Ma~y~q~ sMll ei~end ro a~d secwe th~ ~wns so e~pended
S roqerher wi?A ~MNMt tMnon ~s f+er~~nbefw~ provid~d.
19. At mortys~ee i opt~on, rogethe~ w~rh and ~n add~t~on to ti+e monthly payment of princip~l and interest psyabk vnder the terms of ~he ~ot~ sscwed
he~eby, Mortq~yw shall pay to Mwtgsgee each momh w+tl~ s+id note is (~Ily paid, one-twtlfth (1/12) of a aum eq~al to the annwl premi~m dw fw fire, eatended
coverpe, and other hazsrd inwrsnce :nclvding flood inswance, cwering fhe mortyaqed poperty. Dlus tsaa ~nd assessmenh neat du~ on the mortgayed prope~~Y
;all s~ es~:mat~d by Mwtg~q~e) leu sIl svms already paid therefw, and to be dividec! by the number of monihs to elapse Wiw fo ths date vrhen such tsxes and
assessments shatl become del~rquent. Said s~ms sMlt be held by M«ryapee in trust o~ credited to ~he wincipal of the losn, to wY uid insuruxe, ts~ea, and
asusunenta and sha11 be appl~rd on iht paymeM thereof wMn due. Any e¦cess hatd in rrust by Mortgsyea when said loan is pa~d in f~ll sMll be psid to
Mortyayw, or h~s aasiqns, or personal representatives. In the event of a defauh w foreclosw~, u~d s~ms held in rrusf may be applied on ~nY cosh of dam+9es
sustain~d in connection with fhe coltacrion of the no~e secvred hereby whether by svit, fueclosun, w otherwise. Mortgayee may (rom tim~ To time at iri oF
t~on waivl, snd sfip any sucM waiver, reirntste sny or aIl provis~or~s lxveof re4uirinq s~ch deposits, by notics to Mwigagor in writiny. While ~ny such waivlr
~s in effM. Nbrfyaqw sf+all pay ta•es, asussments +nd insurmce pemi~ms as herein elsevrhere qovided_
~ 20. Morfqayor shall coreply with the provh~ons of any lease, if th+s mwtqaqe ~s on a Ieasehold. If +bis mutgage fs on a condom~~ium vn~r, mortyagor sh~tl
~ pe.form all of mwtqspoi s obliyat~ons ~~der the dec:a~anen of condom~n~um a rr~ster deed, the by-iaws and rega~IaGons of the condomm~vm proiect and con-
~ srnuent documents_ Mortgaqor tu~ther covenanh ehst he and rAe sss«iatton respons~b!e fo~ rhe operat~on of rhe condomin~um will oburve alt of the provis~ons
~ of the sa~d declaratio~, and any amendme~+ts thereto, and o1 the ~ondan~n~vm !~w of the state, and wRi periorm sll obligsuons thereunder; md a ~silure to do
' so which is not c~7ed w~~h~n 30 days afrer noGce grven by the morty+gee +o the mwtqa9w and the said assu~auon.sha~l consrnute • defavlt under ih~s mwrqaye.
- Martysqu further specifically covenam~, bvt r.ot by w~y of lim~tst~on, th~t he and The assxiar:o~ w~? observe all of the p~ovis~oos of said decl+rat~on of c~ndo-
~ minium rtlafinq to Jnswuae wvcraqt. .
~
. .
~ 21. Mortqaqor fv~rhe~ covenants and sgrees that at ~he ~eqves~ o( Mo~f9agee to fvrnish s s+andard term~te bond inwrinp sgamst dam~qe by infes~ation on
'Fe bu~ld~ngs row w hercafter tocated o~ the rtnrtgaqed p~operrv. i~ s~ch amovMS and te.ms, and w~th svcA company as ~pp+o-ied srd rp~ired by Mw~y~yel;
~ and in the event Mortgsgw dots no? cornP~Y N'~th this covcn~nt Mortgagte shall have tht s~ne nghts to obtain same as ins~ra~ce coveraqe vnder covenant
~
~ ~3 hcrwf.
~
~ 24. TMt in the event thst this mortqagc ~a given ro secure a co~struct~w+ loan, fsiiure on the part of the Mwtyaqor or the Mwtqaqoi s connscbr, srchitect,
~ cr.qineers, or subtonrrxtors ro comply with tAe terms of the Construction loan Agreement of even date herewfth, whid~ is by refcrence incwporated herein, shatl,
ar rhs opt~on of tM Mwtqagee, conatitvte • defsult hereunder.
~
~ 23_ If tM mor?qa~d pramius is other thsn s on~ ro four fsmily dwell~nq, the N!o»~ago? coverNnrs ~nd aprees rhat he wil:, ~ot b~p than ehirty (30) days
~ afrer the end of the iiscal y~u, fumish ~to the Aswuation s comp~e» ~nd xcvrate balance sheet and pofit snd bsa st~tement r~fkctinq tfie Mort~or's lit
~ b~I~ties as well u pofit ~nd losa for tM fiual y~ar, ~nd s~ch ba~snce sheH ~nd pofit ~nd loss sbtement shall b~ pepared by s cNtifi~d peiblic ~ccvunfanf li-
censed in rM Stat~ of Flw~da. and shall be c~rtifi~6 as bti~y corrM br wcfi nrtifi~d pubiic ~ctamqnt.
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~ $ooK ~'4 ~acE S40 ~
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