HomeMy WebLinkAbout0337 12. (0.) Thot ~M Abs~roct or Ab~troct~ of r~tl~ ond wrv~yor • wrwy cov~r~nq ~h~ moh9op~d {xop~rry sholl o~ oll umas, dunng ~h~ LI~ 01 rhis
mort9op~, r~moin i~ tM po~itssan of tM Aswcwtan ond in th~ ~wnt oi tl» fo~~cbsur~ of ~A1s mor~9op~ or othH tronsf~r of I~tla to tM
monQop~d p~op~~ryr in ~arinpui~hmee~ of ~M indibr~dn~u s~cur~d Mr~by. oli ~iqht, t~H• ond ~nttr~s~ ol ~M Ma~9o~wf ~n ond b ony wch
Abtitrocq of ~itb oe+d ~un~ya'• wrwp zholl pou b•th~ pu~chos~r a qranre~. .
13. Th~ Afwcbtion nwy, ot its opion, w~d withovl woivinp its ~i9hr ~o occde~o~~ tM ir?d~b~«intu Mrtby s~c~~~d ond w(a~cbf~ tM san~.
poY ~ithN b~fon w ahK d~linqwKy oey o~ otl of tMw c~no~n oblqa~ioni rpv~~ed by th~ ~ums Mnol b b~ poid by tM Mo~tqoqo~s
for fFN ~OfKtiOfl of tM mortpoq~ s~curity or fo~ tM coll~aan of ~hs ~nd~br~dn~~s h~rtby s~cund. All wms so odvonc~d a poid sy th~
A~wciotion shall b~ choep~d inro tM ewNpop~ occount ond becom• on impral paM tMrw(, wbj~ct in oll r~sp~cts a tM tam~. conditions,
ond eov~nant~ of tM aMriwid proeni~wry noN.~ ond thls rtwrtpoy~. o? fully ond ro ~M um:~ ~:qnt as tho~qh o pon of tM wiyinol in-
debt~dntaf ~viclen%~ M~ni~l ~M~ ~~xl ss~urwe! Av Mi~ Te.~~_ ~...~ino iv?wwN H.nr s.~~.l ww~.s sMrll F?e ~mnKl Me Ass~c~otio~ M?~h•
wirM upa+ ih d~mor?d ond b~ in oddition to tM rpulorly moMhly ins~ollme~~s provicbd by tM mat9ope note.
14. Thot no woiv~r o1 o~y eov~e+ant hu~in or o1 th~ obl~po?ion secured h~nby sholl or o~y ~im~ htrwf~er bt held ~o bs o woive~ of th~ N~ms
w o1 th~ not~ t~cvr~d Mnby.
1 S. Thot in ord~~ b acc~I~roN rM morurity of th~ ~nd~bt~dne~~ hereby secur~d becouse of the fo~lurs of the Mwtga~ors to poy ony taa assess•
,mMt, tiab~lity. obli~o~ion w~ncumbronc~ upon so~d propeiry os herein prov~ded. i~ ~hall no~ b~ nscsawry nw rpu~s~ro that fhe Assoual-
we slwll firtt poy tM wm~.
1 a. It i~ furth~r cov~nont~d ond oprNd by th~ Assouotan ond tM Mortyoqors that ~n tM event of o suit beinq instituted to forecbs~ this mo~-
9op~, tM Associotqn slwl) b~ entiH~d to opply ot ony time pe~+din9 sucA forecbsure svif to tM Coun hav~rg jurisdKtion thereof fw tM op-
pointmenf of o rac~iw~ of oll ond iinpulor th~ mortyo~ed property, ond of olI rents, incomes, prol~~s, ~swes ond revenues there(rom, irom
whotwtv~~ sovrp d~riwd: ond IMrwpon it if Mr~by ~xpr~ssly convenonted and aqreed that the Co~A sl+oll forthwith oppoint tuch nceivK
w~rh tM usvol pow~n ond duti~s of r~c~iwn in lik~ coses; or?d soid oppo~ntment sholl be mode by Ne~ Coun as o mo~ter oi a?rM ~ght to
th* AssDciotion. ond without rehra?ce to tM odp~oq w inodsquocy of ~hs volu~ of ~he propehy hereby morpo~ed. w ro tht solvsecy a
insolr~ncy of tM M,ort9oyor~ o~ ony otMr porty d~fendont to such wit. The Mwt9oyws Mreby sp~ufically woiw the rqht w object ro tM
oppo~ntment of O ~K~ivN os ofor~soid ond hsr~by eapnisly consent tha~ such eppo~nrmee?t sAoll be mods o~ o~ odmitted squi~y ond os o
montr of obwl~r~ ri9ht ro tM A:~ociation ond ~Ao~ tl+~ same moy be, do+~e w~thwt notfcs~ to tM Mort~c+~as.
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17. ~o ?h~ ~xhnt of ~M indebt~dn~ss of tM Mwtpo~o~~ ro the Assonat~on dexribed herein er secured her~by, the Association is hereby wbro-
yored ro rhe lia? or I~ens and w tM ~phts of the ownen ond holde.s thereof ol eoch ond every mo~t9aye, Gen w other encwnbronces on
th~ land d~xribed h~rein wh~cA ii poid ond~or wtis(isd in whole o~ in part, out of the p~xeeds of the loa~ described herein or sec~red
hertby, ond tM re~pattivs liens or soid rtart9oges, IiMS or. orher encumb.ances, shall be ond the same ond eoch of them hercby is presen- ~
ed ond sholl poss to ond be held by the Associotion herein o~ secunry tor rhe indebtedneas to the As:oc~at~a+ herein described w hereby
~ecur~d, ta the som~ ~x~ent thot i~ would hove been prsserved ond would hove been possed to and been held by the Associotion hod it been
duly ond reyulorly ossiyned, tronsfernd, ur over ond delivered unto ?he Assouarion by uporate deed of ass:gnn+en~, notw~thstonding the
foct tAo~ ehe same may hov~ been Loti~f~ed ond concelled of record, i~ be~ng the intenuoe+ of ~he part~es hereto thot tht wme will be sot-
isfi~d ond cenc~llsd of rscord by th~ hoiders tfieeeof ot a obout the t~me of the record~ng of this mortgoge or soon ~hereafie~.
18. The Associotion or the holder he?eof moy. in wri?irg, rw~ranye. adjust and eater~d the t~mes and omovn~s of poyments of inferett and~or
prlncipol of the nore secursd by rhis monqope by o~reement with ~he present or subsequa+~ owner of the real estote securing the same.
w~tlw~A no~;ce to or consee~t of ond w~thovt ~~leos;np o~y porty 1io61e the~eon.
19 If eny oi th~ iums of morny Mrein nfared fo be not promprly ond fully po~d wirhin ~hirry (301 doys next oher rhe same se+rerotly com~
due ond poyabie, or ~i eoch ond every the shpulotwns, ogreements, condmens orv! covenants of so~d p~om~ssuy no~e and inis mortfloge
or e~tMr, ore not d~ly performed, comptied with and ab~ded by, the oggregote sum ment~one~.+ in so~d promissory note w otherwise secured
hereby iholl become dve and poyoble fonhwirh w thereafter at the opnon. oi fhe Assoc~a~~on, as fvlly ond completely os if wid oggreqote
sum o~ mon~y wes originally stipulared ro be poid on such doy, onyrh~ng in said promissory note to the controry notwithstanding.
20. In the event the mortgogon obxond or obandon the property, o~ go in h~ding ond cannot be locared, w have lefi the State of Florido,
~he martyogee p~ its oflenis, moy immediorcly toke posseasions of the . propeny to profect the wme, and rent the some ond ony mon~es
received from rems. less the poymem of toxa. insuronce ond upkeep. shall be oppl~ed on the ~ndebtedness. No~hing here~n shall preveM
th~ morrgoyse from eaercising its right ?o forecbse its mor*goge. •
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! ?N WITNESS WHEREOf, th~ soid mott~o9ors hereunto ut thei. honds ond seals ?he doy ond year obove wrirreo.
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E Si d D~liv~nd in fM pns~nc~ ef vs:
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~ - - ~~?y
, Gerald _T. Snglish
~ ~t%?~vr`~ - ---~s~?u
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~ - - - -~s~?u
~ - _ ~R~Ep
_ - - ~ rROCER POITq t~. -----~s~?u
- - ;~.-p';,En COURT
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f STATE OF FlORIOA ss A~~r 15 3 46 PM'18
~ COUNTY OF tALM ~EACM ~
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~ 1 h~r~by c~rtiiy thal on thI• doy. Mfw~ m~, ee effic~r d~lr arthori:ed in tM Stot~ oJenwid and in t1N Cornq aforesaid 1~ ~ob
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~ G$RAI~ T. $NGLISH , a single man - - - - - - - - - -
A acknowbdy~n~~nts, ~rwnollp opp~and
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fe nN known fe b~ th~ p~rwn~s) d~~crib~d ie ond wAe ~:~cvt~d th~ for~yoiny instrY~n~nt ond ock~wwl~dyed befon n» M~W _ M_.
•cvt~d th~ wnN }w !M p~r~pw tMnin ~:pnn~d. '
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< WITNESS my hand ond ef(iciat Nol in IM Covnfp w~d Stah-'ias~ ofonsoid ~his tM _ i~r ef au$~St A.O. 19 i8 '
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My Canmis~ion ~pir~f: _ -
y~ - ~K~Ik. 51ot~ of Ftorido af bry~.
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