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Home My WebLink About0792 ~ 4~ Tnat. m wda to p~otxt mae lully tM s~tunty ol tn~s monp~p~. th~ Mwtpspor. top~tMr wrth. and ~n ~dd~tan to the masthlY piYments u+~da tM ~s~ms ol tM te secured Aereby- on tM sp~cd~~d paym~M dat~ ol qch montA uoW tM sa~d nots ~s fuuy ps~d w~u pay ~u ~hs Assouatan tM louuw~np sums ~(a) An inststiment of tM taa~s and ~ss~ssm~nls I~v»d ~ to b~ I~v~W ~w~ns! IIN Wem~ses tov8red by t~~s mat~aqe. arW an installmsnt of tM pt~m+um _ d~ ~ a prsmwms tMt wd1 bstom~ du~ and paY~~ ~o rsnew the ~nwr~nce on tM prem~ses covered hersoy aQs~nst bu by lua. snd w~ndstorm. as prov~dsd 8 fw py pars9~sph 3 p~ced~np. a such otMr heiard as m~y ro~son~Wy b~ rpwred by tAS Assouatwn. snd an ~nstslimeot o1 the prsnuum that w~Y :.e become due and paYable ~o r~nsw the mortpap~ msurancs. ~f ~~y SucA ~nslallments sMtl bs squal. respsctnoly. to one-twe~hh (1i12th1 0l tha es- ~ J~ t~matsd W~mwm or pr~rtuums la such ~nwranc~. ~nd ua~s u?d assessm~ntc nea~ due las esumaad by tM Assou~twnl less all ~nsfallmsnis ~dsady ~ paid ther~iw. d~v~dsd by tM numbsr of months that ~n to s4ps~ a~s marih pna to IM date whsn such p~smwm w prsnuums and ta~es s~d ~ i assessments vmll bstoml al~nqu~nY TM Assoaatwn. wMl~ ~pply~np sutA payments to insursnte p~mwms. taa~s and sssessme~ts. bsiae lhe sams 4- e~ becoms Aeb~quent. stull not pay ~nt~r~ft t0 lM MOrtp~por on iuch funds. and ~II sucA paYmentt may b~ comm~nplsd by the Assoa~tan w~ih ~ny c s'•' g~ othe~ such funds a anth us owo funds. Th~ funds u~ p1~dpW as adduana~ securrty fw ths wms sscur~d by tlus Monpaps and are wq~ct to uw by ~ ~ the Assouatan m p~yrt»n1 of ~ lat~ cMry~s" ~nd Gaok cou~ctan ch~rpss a lo? AI~ paymants memansd ~n ths wx~d~np wbssctwn of ttws pa~a~aph s~d su paymems to be msd~ unde~ tns nots sscu~sd neroby shsu be sddsd i togother and ths aqqrsyst~ amount tMrspf slwll bs ps~d by the MatpaQor eich month m s s~nyle paymsnt to be sppl~ed by the Assoc~auon to lh~ fdbwing ~tems ~n tAe adx set fath 1 Ta~es. ~sssssm~nts. snd inwrance aemwms 2"Lste charges" ~nd bank tdlectan thupes. unleu pad ~r? ~ f ~ manner provwed ~n par~QrspA 4 lal 3. Intsr~st on tAe rau secursd Mre~y 4 Amortaauon oi the pnnc~psl o( ssd note Any defk~encr ths smount ot such spprepste monthly p~yments shs~l. unleu pad by the Matyapa p~or to the due dats ot the neat such~syment. con• sutute an event ot default undar tM matyspe Th~ Auoaatan m~y collecl. w~tlau~ wa~ver ol ~~pMs under paisy~aph 20. ~ntra, a' late chsrpe" ot ten dollsrs a ~c IS10 001 for escA monthly payn~snt not r~ctrv~d Dy tM Assoc~~tron vwtMn th~rty (30) calendar days atter the day tM montNy payment a due to cover the sxtq ~ u~ e¦pense ~n handlmg dsl~ipuent accounts ~ y Tha~ d the totsl ot tM psYm~nn mad~ by tM Mortpayor unda 1~1 of parspraph ~~xedmg shan e:ceed ins amou~t of payments acwaily m~de by tM Assoaauon tor ta:ss and assessmsnts snd ~nwrence p~smwms. as tM usa m~y bs, wcA excess shstl be c~ed~ted by the /?ssoaauon on wDsequont psyments to be made by the Mongsya If. however. tAS montMy psymsnts made Dy the Mwt9a9or urWer (s) of parsgraph 4 prsced~ny shall ~ot h~ve been wH~c~snt to paY taxes and assessments and ~nsurance prsmwms. as ths case may be. wAen the same shall become due ar?d paysWe. then. the Assoaatron may. at ns op- tron. ~mmed~ately pay suCA ta~ces snd ~sssssments ~nd ~nsuru~cs prsmwm. snd the Mwtpaya sha~~ pay to ths Assoc~atan any amount nxessary to meks up ~he defM~ency. and wch payment sMll b~ due ~nd psY~bls vwihm th~rty (301 dsys alter the date ol ma~hng oi notKe by the Auoaatan setung forth ths smount of wch def~werxy 11. at smr t~ms. tM Matgayor shall tsodsr to the Assoc~alwn. ~n sctwdance w~th tne pov~sans ol ths note sscurad hersby, full paymsnt ot tne enure ~ndebtedness rsprsssntsd hsnby. tns Assou~tan shs~~. computmp the amount of such u~debtedness. credit to the attount'of ths Mwtpagor arryr baisnce rema~mng ~n the (unds accumufated undsr ths pronsa.~s of UI of par~~aph 1 6 To permrt. commrt pr suHM no wsste. ~mp~ument or deterqratron of sad prope~ty. or snv Part thereof. and upon the fa~lure ol the MortQapa to ksep ths bu~W.ngs on sa~d property m good cond~tan w repa~r and ma~ntenance. ths Assouaoon may demand D~oper mamte~ance and tAe ~mmed~ate repair oi ssd buadngs. or an ~ncrease ~n the amount of secunty. or the +mmed~ats repayment o( the debt Rereby secured, and tne fa~lure o~ the Mortpaga to comply vmtA sa~d demarxl ot the Assoaat~on for a pe~wd ot th~rty (301 dsys shsll consutute ~ bresch of tlus mort9ags. and. at the optwn oi ths Assousta~. ~mmsd~atNy mature the entue artaunt of pnnc~psl snd ~nterost hs~sby secured. ~nd the Assoc~atron ~mmed~ately and Mnthout not~ce may ~nst~tute p~oceed~nqs to fwetloss th~s mortgaga and spply 1a the appantment ot ~ rscaver. ss hersinahe~ provided. and m csse of the refusal. neglact o+ ~nabdrty of the Mortgagw to repsu snd ma~ntam sa~d property. ths Assoustwn msy. at ~u optron. maks such ropa~rs a csuse the same to ~e msde. snd ~dvance moneys that beAali. 7 To perfwm. compiy vmth and sbds by esch arxl erery the st~pu~atans. apresments. condrtwns and covenants ~n sa~d prom~ssory note and this mortpage sst forth ' 8 To comply w~th the wDd~vis~on restr~ctwns and the mumapsl iornnp wd~nances applicable to the matgayed property. not to erect a perm~t to be aected sny neN, pu,ldmgs an the prem~ses hero~n mortgsfled a to sdd to w perm~t to be sdded to. make w perm~t to be made. any strutiural alteratwns to any of the ex- ~st~ng ~mprovements tbereon wrtha:t the wracen consent ol ths Assouatron. and ~n the event of any vwlauon or attempt to vrolate these supulauons. or sny ot them. tMS mortgege and aN wms sscursd Mreby shsll ~mrtrod~ately becoms due snd payaDle st the optwn of ths Assoc~atan. g TAat case of a delault m any of the terms ol tMs mortpape and ths 61~np of a b~ll to ~aecbse t~~s a any othe~ mwtgage encumber~ng ths w~thu~ descnbsd property. the Assoaatwn shall be enutlsd to apply. et sny ome w~tAout not~ce pend~ng such forecbwro wrt. to tAe court hav~ng ~unsd~ctan thersol tw ths ~p- po~ntme~t of a rece,ver of ail and s~ngular the matpsgsd p?operty. and ot ail the rents. mcomes. prof~ts. ~swes and revenues thsreot, trom whatsoever source denved_ and. thereupon. rt~s hereGy exprsssly covensnted snd agreed ihst ihe court shan brthw~th appant a recerver ot sa~d mortgaged property. aN ~nd s~nyular, and of suth rents. ~nco~+~es. pro(~ts. ~ssues and reverwes tMreot. lrom whatsoever source derwed. w~th the uwai powers and duues ot rece~vers m Mke cases. and wch appantment shall be made by sucA court ~s s matter ot str~ct npht to the Assouatan. and wrthout reference to the sdequacy or madepuscy oi the vatue of the property hereby rno?tyaped. o~ to tns solvertcy w msolvency of tM Mortgagor. and that such rents. profits. ~ncomes. ~ssues. and reverwes shall be appl~ed by wch recerver to the p~yment o1 the matpape ~nde0tedness. costs and charges. accad~ng to the wder ol wch court 1 O That ~n the event the ownersh~p ot the mortgsged pr9m~ses. Or any pert tAsreof. betomes vested ~n a persOn other than the Mortyagot. the AssOtutwn may. w~thout not~ce to the Mwtgagor. dsat wrth wch successor o~ wccessors in ~nterest w~th re~erence to tMs mortgage and ihe debt hereby secured. ~n the same manne~ as w~th the Mortgaga. w~thout ~n any way wt~sdng a d~uharg~ng the Mortyagor's I~ab~I~ty hereunder or upon t1w dAbt hereby secured No sa4n oi the prem,ses hereby mortgagad and no Iorbesrance on tha part of the Assoc~stwn. and no extens~on oi the Ume tor tl~e payment ot the debt hersby secure~ yrve~ by the Assoc~at~on. sha~l operate to relesse. d~uhsrye, mod~ty. changa or aHeci the ong~nal badl~ty ot the Mortgagor here~n. e~ther m whole a u~ pan. 1 1 That ~n the event the prem~ses hereby mwtgayed. or sny part thereoi, shall be condemned and taken under the power oi em~nent doma~n, tAe Assoaatwn shall have the r~ghi to demand that all dsmayes swarded for the tak~np ot w in~ury to sa~d p~em~ses shall be pa~d to fhe Assoc~atan. ~ts wccessors w ass~yns. up to the amount then unpa~d on th~s mwtpage. and may be appl~ed to any wms Iast payable hereurxler 12 Tha~ t~me ~s oF tAe essence oi th~s contract and that no wa~ver of any obl~gauon Aereunde~. or ot the oW~gat~on secured hereby. shalt at any ume thereaher be ' held to be a warve~ of the terms hereof or ot tAe prom~ssory note secured hereby i ; 13 In the event oi any detault ~n any o( the terms oi th~s mortpage. or ~n ihe note secured hereby. and accelerauon Dy the holde~, w any other srtuatron that wouW j cause the ~nterest pard w paysbis urder tlus obl~pauon to eaceed t1~e ~nterest rste authon:ed by Iaw. then ~n such avent s11 eacess ~nterest theretotors psd shaN ~ be cred~ted to w~napal ar+o atl accrusd and unpaid exceu mteres; shall abate ard shall not ~e en obl~gatro~ of the maker or oi any other person. ~ 14 Tnat to the extent ot the ~ndebtedness of the Matgegw to the Assouatwn descnbed herem or secured hereby. the Assouatwrt ~s hereby wbrogated to the hen or I~ens and to tt~e nghts o~ the owner and hofoer thereot of eacA and every mortpage. 1ren or other encumb~ance o~ the land descnbed he~e~~. whlch ~s paid and sat~sfied. m whole w ~n part. out of the p~oceeds of ihe loan descnDed herein w secured hereby. and the respecuve I~ens of sa~d mortya9es. hens or other en- E cumbrances. shatl be. and the same and exA of tAem heroby ~s preserved and shall pass to and be held by the AssoaaUOn here~n as secunty fa the m- debtedness to the AssouaUOn here~n desc~~bed a hereby secu~ed. to the same eatent that it would have been preserved and would have been passed to ard F been held by tlie AssOUat~on had it been duly srid re9ulsrly sss~qned. trensferred. set over, and de6vered unto the AssoaaUOn by separate deed ot ass~gnrt~ent. notw~thstand~ng the tact tf~st the same may be sat~sfied and cancelted o( rZcwd. ~t ~e~ng the ~~tentwn oi the part~es hereto that the same vmi! be saus~ied snd ~ cancelled ot record by the lwlders thereol st or sbout the ume ot the record~ng of tMs rtrortgage € 15 Tnat ~f any of the sums of moneY here~n roferred to be not promptly and tuily pa~d w~th~n th~rty 130? days next aher [he same severaily Gecome due and paysbk. ~ or d each and every t1» supulat~ons. agreements. cund~uons and covenants ot sa~d Drom~ssory note and th~s mortgage. d e~ther. are not duly pe~famed. com- ~ phed w~th and aD~ded by. tlie aggregate wm unpars urMer ss~d prom~ssory rate and th~s mortgage shall become due and payabls lorthv~nin a thereaher, st tfis optwn oi the Assouauon. as (uUy and completsty as d sa~d aggregate sum of money were ongmally sUpulated to be pa~d on wch day. anytMng in ss~d ~ prom~ssory note or herem to the contrsry noiwithsteoding ~ ~ ~ g That ~n order to accelerate the mawnty oi the indebtedness hereby secured because oF the fa~lure of the Mwtgagor to pay any taa assessment. 6ab~Aty. obipa- uo~ w encumbrance upon sa~d property as herem prov~ded. rt shall not be necessary nor requ~s~~e that tne Assouabon shall f~rst pay the same. ~ t 7 If a conveyance should be made by the Mortgspor ot t1~e premises here~n descr~bed. or any part hereof. and the gran[ee named m suth tonveyante fads w ~ refuses ro assume the payment ot the obl~gatan ev~denced by sa~d prom~ssory rrote and secured by th~s mortgage. and ~n accwdance nnth the~r respective terms. ard ab~de by the rules and regulat~ons ot the Assoaatwn. ~nclud~ng paymenl of a reasonaWe trans(er lee, then, and ~n that event, at the optio~ and upon ~ [he demand of the AssoaaYO~ a~1 wms o~ money secured hereby shall ~mmed~atety become torthvrrth due and paYable. t 8 That the abstract or abstracts of t~tte covenrtg the mortyaged property shall at alt t~mes. dur~ng the I~fe ot th~s mortgage, rema~n ~n tAe possess~wi of the ~ Assoc:aUOn and. ~n event ot the foreclowre of th~s mortgage. w other transter of trtle to the mortgaged property. m extmgu~shment o1 jhe ~ndebtedness setured hereby ali nght. Utle and inte~est of the Mortgayor m and to any such abstracts of utle sbalt pass to the purchaser or grantee ~ 19 Shoutd the valydrty or hen ot th~s mortgage. oc the note secured thereby. be contested by bugauon or otherw~se. the Mortgagor agrees to pay to the Auouatwn ~ the cost oi de(end~ng the same mclud~ng a reasonsWe attornsy"s tee ~ 20 To pay aH and s~r,gular the costs. charges and e;penses. ~nclud~ng attwney s fees reaswiably ~ncurred. or pad at an, ;tme by the Assouat~on. because oi the fa~l;,re oi the Mortgagor to periorm, comply w~tn arW ab~de by each arxl every the st~pulat~ons. agreements. cond~uons and covenants oi sard promissory ~ote ~ and ih~s mortgage. or erther. and every such shall besr ~nterest from date at the rate ol ten per tent 11046) per annum untd fully pa~d. ~ 21 Tne Assoaat~on shall have the nght at any ume and irom t~me to Ume and wKhout noUce to or consent of any person to tai retease any poruon ot tAe prertuses z trom the nen of th~s mortgage. (b1 release any person I~ab~e 1or payment of any ~ndebtedness secured hereby. (ti eatend the Ume ot payment or alter !he terms ~ of Dayment of ali or any part ot tne ~ndebtedness, v~nthout aNecUng w releas~ng the personal haMlqy of any person t~able (other than any perso~ released pur- ~ suant heret0l fOr the paym¢nt O~ 2ny Sum Or intere5t 5ltured hereby and w~thout ~n any w~se altenng. vary~ng. or d~m~r.~sh~ng the faces. eflects. or ben of tMs mortyaye o~ a~l ehe prem~ses not spec~f~cally released from the I~en of th,s mortgage by the Assoaauon 22 Any ag+eement hereahe~ made by Mortgagor and Assouauon pursuant to th~s mo~tgage shall be wpenor to the nghts of the hotder of any mtervernng hen or encumbrance z3 Upon reQuest of Mortgagor the AssouaUOn may. at ~ts sole opUOn. from ume to ume. before full paYment ot all ~ndebtedness secured hereby. make turtlwr ad- ~ va~ces to Mortgagor. prov~ded. however. that the totsl pnnupal secu~ed hereDy and rema~n~ng u~pa~d. ~nclud~ng any wch advances. shall not at anY time ex- ; ~eeA Ihe or~g+nal pr~napal wm secu~ed herBby Mortgapor shali pay ali such further advance5 wrth ~ntere5t and the same Shall be secured herBby. All prov~san5 :z o~ [h~s mortgage shaU apply to each further advance as well as to afl other ~ndebtedness secured hereby Noth~ng herem conta~ned. however. shsll limrt the amount secured by th~s mortgage d such amount ~s ~~creased by advances made by the AuouaUOO. as here~n elsewhere prov~ded for to protect the secunty. 24 At the request of ths Mortgagw. the Assouata~ ~prs~s to w~m ths prwnsar~s cf panyraph 4 relauve to the asstw~ oi a tax snd haz~rd mwr~nce sscrow sc- count, prov~led. howavsr. that ths Assoc~stan rot~u~s tM nyht. st ~ts op:wn. to ro-i~sats such pronsans o( said pars9nph 4 as sn obtpaUOn of tM Mortp~pa ; hereunder upon ths hsppsrnnp ol erryr ot tM tdlowmp: A Trans(sr of the mortyeqsd pnrtufss. or ~ny p~rt thsreof. B faduro to make eny pa~m~nt rsqwnd unds? ths t~rms o! ths no:s on or befors tM due dats tMrsof. - C To delrver to the Associsuon. on d b~fon March 10 of eech rsu. qx rscsrpts evidenany the psyment oi sll lawfully ~rtipo~sd wcss ta th~ prsad~np cabnda~ year. to detrvsr to ths Associ~tannc~c~~pts w~d~ncany ths p~ymsr?t oi sll bsru for pub~c imprw~msnu with~n rwn~ty (90) days ~ibr tM prta shall bscoms dw snd psysble, and to p~y w dischup~ withi~~ nlnsty (90) Oays sftsr dw dats, any snd all povsrnmsntd IsvNS tMt may b~ rt~ad~ on ths - ~t9~9~ D~~Y~ D Fadure [o comply w,ch ths inwr~ tf ~?il~b~h 3. a ot ~ny oi the ahsr terms and caxUt~ons of tlws matpa~ a not~. w with t1+~ inwr~nc~ reqwrements contnnsd in tM ~~n y~§~m ~~d n4tsd documents should ths mortp~psd p?oW~ty b~ oommrtUd to oondwnin~um dere~ownsnt. RG ; i. F~; ; i nA5 AI~iTRACT ir TITL! CORrORAT1~ " ~LER! :'1~T COURT ~ • V E- 7~ ~ pfr' ~ F.,~ ' C. ' FLCRI D A ~ F~.~ 255 Pas~ 79U 2 so PH'~6 ' -y~~ ~ : . . Ju~ 26 _ Fop . : ~ , v ~ ~ ~ ~ _ < ~ ._~5 ~ . . . _ _ _ _ - .w..~~~