HomeMy WebLinkAbout0655 CfS
~~can~, proAK, issw~ and r~v~nv~s or• h~r~by nar~Qoped oi if ipttificallr s~t fo?~!+ ond d~uribed in th~ 9~o~t~e+~ vnd hcb~ndwn
cla~ h~r~of, and sucl~ r~c~iv~r sl?ol! hov~ 0!1 M~ b?ood ond •if~ct,v fw~ctions and pow~n ~n ony wcs. •~~n+~~.d by a couM ~c o
r~c~iv~r. ond weh oppoiMnNnt sholl b• nwd• by suth towt ot on admitt~d tquity ond o mottt? of obwl~t~ ripht in 1h~ MOrt~op~~,
ond witF~out nf~~~nc~ 1o M~ od~quoty o~ inadequocy of M~ valu~ of 1he prop~ny nwrtpoq~d, o. ~o ~h. so~~•ncr w~+sa~.nc~r of
tM MortQoqor o~d/or Ih~ d~f~~?do~f ond wch rents, profits, incom~. iuu~s ond r~venue~ sholl b~ applied by ti?~ r~c~iv~~ otco~dinp
fo 1h~ li~n and/o~ ~quity of Mi~ nw~tpcQ~ and th~ practic~ of such coun, and such oppoinlmenf of receive~ shofl b~ witt~out rwtic~
?o anr oblipor M~tund~~. ' :
f
NINTH: Th~ Mo~t~a9o? h~~ebr woiv~s oU riqhfs of homesteod ond .eaempt~o~ qro~fed br ~he Con~titu~~on and laws of
Florido. h is specificclly o9~eed Mot t~me of Me essence in this com~act and that no waiver br the Monyapee of any oblipotion
he~wnd~r or of M~ obli9otion secured he~ebr shall at any time ther~ofter be held ro be o wcive• of Me te~ms he?aof or of Me
obliQo~ia? s~cu~ed M~eby. ~
TENTH: Upor? ony sote, tronsfer w co.~veyance ~ of the property here~n descnbe.i ond cove.ed by th~s Mo?t9oge to ony
pe.son, firm or cwporotion, whose credit-worthineu hos .?o~ been oppravtA ~n w~~t~nq ~y the holde. of this Mwtgofle, the Mwtflogee i
or holder shoti hove the right, at its sole opt~on, to actele.ate the motur~ty of th~s Mwtgofle us though ~t were due ond poyable
on the doy oF. such tronsfe., upa+ notice of soid tronsfer, the Mo.tqogee or holder Iw~s good reoson to believe rhot the security
of rhe Mortpoflee or holder hos been hormed or ploced in ~eopordy. The Bank sholl recewe a complete wrrent finonaol state-
ment i~ o fo.m a~d presentotian sotisfoctory to the Bonk
. ~ 1
- ~ t
~
flEYFNTM; li fwetlowr~ proceedinps of any second monqo~e or second tn,s~ deed or any junior lien of ony kind should i
be iostituted, the Morfpa~ee may, at its option immediotely or thereoher declare tnis mortpo9e and the indebfedness_ secured ;
h~reby due and payabl~. #
;
TWBfTH: Thot io fM event the premises Aereby nwrtqaged, o• any po.t ti~ereof, shall be condemned and faken for publi~ ~
use under the pow~r of eminent domain, the Mortgagee sholl Iwve the right to demond thar all domages owarded for Me tokin~ ~
3
of or domapes to soid premites shall be paid to the Mortga~ee, up to the anwunt then unpoid on this mongage and the obligotion - ;
:e~vred hereby ond nwy be opplied upon the poyments lost purable under Mis nartgoge and the obti9oiion secured hereby. '
TFIIRTEENTM: Thot i~ntoll~ents, poyable under the te?ms hereof ond the ncite secured hereby, not poid when due, sholl be
subject, aRer fihe~n (15) doys fran th~ dve dafe thereof~ to. and it is a~reed Mortyc9ee sholl collect thereo~ end Iherewith, o
"lote chorpe" in tM anwunt of fou~ per cent (4~) of the i~utallme~tt due upon eecfi such delinquent instotlment, end such "late
charqes" ere secur~d by 1hs lien hereof. i~
~
FOURTEENTH: Without impeiriero the obli9etions of Mort9a~or contained :n para9rophs SKOND, THfR~ and fOURTH `
hereof, and fo~ applicotion to the purposes tl~reof insofar as the some slwll be sufficient, Mort~a~or shall, in addition to the ~
monMly payments of principal ond int~resF os stoted in the origirwl note (a~d in~tha note or rwtes :ecured herebr) provided to bs
made, par d monthly sum and amovnr equal to one-twelfth (1/12) of the estimated amuo! toxes, essessments ond irau~ance ~
premiwns upon fhs rea! eitaf~ s~wMp, at the anwunt lhereof is determined from time to time by the Mort~o~ee.
. • ;
FIFTEENTH: That fha Mort~aQor shail fumish arxwaily, at the request of the Mortgogee, Rnan~ial statements in fo~m ond
ce~tified in o manner satisfoctory fo the AAortpapee. ~
~ ~
F
~
SIXTEENTN: Tha mortqape also secures ony and all renewols and extensions of the praniswry note referred to herein ond t
secured herebr, and oll irotoliments thereof, and afso any other notes which have been or mar be given to tbe MortQo~ee by the
1Nort~apor, oed anr other indebtedness of the Mort~o~or to the Mortgo~ee whith, Fwwever, shotl not exceed at ony one time -
the a~pre~ofe unpoid printipal ~um of__
------TWENTY THOUSAND AND NO/100-------------------- 2Q 000 OQ
- _ - - _tlolldn li _ . i ;
it beinp the spsciAt intention thet ~urfher adva~ces may be mode by the Mortgo~ee al its option to the Mortyagor, either p~ior to • ~
or oher fhe due.dotes of fhe obove referred to promi:sory note hereby secured; ond this monyoge is given for the specifk
pu~pos~ of sawrinq ony ond ci~ ;ndebtedness by the Mortyayor ro the Mortyagee in whotever manner !he sama may be evi-
dencad or represeefed, until fhit mortqo~s is sotisRed of record; and all covenonts ond og~eemei?ts tonteined in this mwigaye
shcl! ba appliccble ~o al) furM~er ond future odronces mode br N~e Mort~opee to the Mortgagor ond oll other indebtedness of
Mortpapor to 1he Monpapse, ond any and all renewals or extensions thereof.
SEVENTEENTH: This Mortgage and the Note which it secures shall be
construed under the Iaws of the State of Florida.
EIGHTEENTH: This Mortgage is subject to all the terms of a Construction
Loan Agreement, of even date, the same as if said agreement were set out
herein in full.
, .
~ Boox 289 P~~ 65~ ~
-3-
- ~ ~ -
~ ~ ~i . . Y~~~,~
.~'~'~iu~'-`f,.. 'W ~ ' . ~ ~ d"kth~y~ "
- .~Y'Y L4-fi~~~' _ d ~ T~W"~•
:.cM'y.". .