HomeMy WebLinkAbout0475 PROVIDED ALWAYS~ that if Mortgago~ shall pay Mortgagec the sums specified in that ce~tain promisso~y note substant~aUy
copied or idemifitd below, to-wit:
l~tNUTA?tcnl .\'u/e•
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--~bbebe~ oc~°'ber . t,9~.
For valur rr~•e~vwl. the undrrv~Kncv1 promixt~ to ~~;~v lu the orde~ of HOHE SUI~Nn NATIONAt. EiANK. n:~tion~?I
h:~nkine aawx•iation. .~t ita prin~-i~k~l otfi~-e in Hot~e tiound. Florida, the princi{?:d sum ot . _
~ -{eht Htnd~c~ad anrl m/lA0 Ik~ll~~sl~ 40~~ ~
i~~~cthcr ~~i[h imcrest trum_ 2drx~e.r,t~esr~ 19TR the rat~ ut
- u~~_I per rent per ~nnum un thr unpaid bal~r~~:e. The.prii~ripal and in~erc,i .h:,U hc pa~ ~hlr in
2d0 A~~~-- inst:?IlmentsutR4irin ti~a~rlrnA Ci u$ jA~j~ )ullanfS.~~.~11
~ 1QYt~1 heginnin~ ~~n ~he day of ~+E**' I')~_. ~nd un the ~}:e~ ul
_•:,.h~L._there~ftrr until th~ entire sum hercunder hasheen fedl~• p~id. .
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1. ~VI p;i~~mciits shatl hc tirst ~pplicd 'o interesl un llll' U11~1:1!(I F1~I:lI1Cl'. ~llll~ II1lO Ill pnn~ipal. ihi. n,~t~ :iiall h~ in ~le-
:.,ult ~~hen :im p,~mrnt i. nut pai~ ~~~t1un 1 i~~}~; ~~I its due dJte. 1?'hile n~ t~c'IJUI{. !IIlS !)~llt ,hail h~~r int~re,~ :,t thc r~tc u(1Q.';
n~•~ annum. If th~L r,utz i~ iii .Ictault t~~r l~ da~~. the a~,creF~te unpai.l indehtednc..,l~alL ~t ihe u~~ti~m ~,i thc If~~l~lrr. hc<<,;rn imme.l-
,.,t~•I~~ duc ~:id pa~~~hlr.
The mat,cr..~n~i ~n~ui.er~ hc~~ut :e~•erall}' ~~~ai~•e demand. ~i~,ti~~ an~ pn~te.i. :uid ;ut~• d~len,~ h~ ~ea,~,n ~,f r~icn.~~m
t~me t~v p~~ ment u~her in.fulzrn~c ;r~ntcd h}• the holdcr. ~nd liirthei :~~:rer ~r. p~~ all i~~.ts ~~t :ullecti~,n. in;lu~l~n¢ re:~.utt~hle
.f',[~~(Ilt~'? 1~P. !1 I~11C IIUtt I~ I(1 IItI;tllli JIl(~ IS F1I~~t(I Itl (Ilt ~1dOl~S O~ J!1 .1!luflti\' 1~~I i~~~~ti Ut~)1 ~~i ii it he.c~me. n~:c.;;~r~ 1~~ ~ll~~l«l t~IC 1
~t:unty )?erc~,f. ~vheth~r u~ n„t a«,mplaint is tiled. This note shall be the ~~~int ~nd ~~~~er:~l ~~hli~.~u~~n uf ~II m.~~.en. ~?uetic.. ~_uarant~~n
,n~i ~nd~~r.en and sha11 h. hindinY u~~n them. their heirs, persun~l represcntau~•c.. ,u~cec.un ~n~ :iti.:en..
li the effc~~ ~~i ~n~• p~rt ~,f the luan ~r~nvctiun eviden~ed b~ tlii~ nut~ re,ults in mterest I~~r ~harge. deetnr~t tu h~ int~r~~t?
E~.ud ur t~, he pa~d t~, the hulder. hcine in z~.ess ~?t the permis.ible ~ivil u.un lunit, as estahli~hed 1,~ thr taH. „i f=l~~rnl~. tl~~n ,urh ~
: ~.e.. N~11 hc pr~~mptly rctun~ied. ~ ;
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-1. This nute ma~ he prepaid in part ur ui fufi ~t :~n~ ttrn< <crth~~ut ~x•n;~lt~. r;?~t~~l p?cpavm~?;t. h~»~e~er. ;hall reli~~e
'}t~ rn:~ker :;f p:~~•ing the recular ~+~}•nzent_
~st.at.? DQ~T~ L. Q~C ~sE~?~~ #
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and shall also perform and comply with all the terms and conditions of this mortgage, the estate hereby created shaU ceue
and be nuU and void.
TERMS ANtD CONDITIONS: MORTGAGOR does hereby covenant and agree:
1. TAXES AND ~
ENCi/M~RANCFS To promptly pay the taxes and ofher governmental levies, judgments, liens. and other encum-
branas which now or hereafter appear to be a lien on said property; Mortgagee shaU be the sole judge of the legaljty of such
encumbrances and the amount necessary to be paid in dixharge ihereof; and to deliver to Mortgagee receipts for the payment
of: the preceding year's taxes (prior to March-l5th annually) and, other governmentat ievies (within ninety (90) days from
due date).
2. INSURANCE To continuously maintain fire and windstorm insurance ort the mortgagrd property of such
type md unounts as the Martgagx may from time to time require, but never ku than a sum eqwl to the amount of the mort-
gage, or an amount suff'icient to comply with any cainsurance requirement under Fbrida law. Alt insurance s}ull bear the
standard New York mortgage clause without contribution and shall otherwise be in a form and with companies acceptable to
Mortgagee. The policies and renewals thereof shall be held by Afoctgagee. Mortgagor shall give immediate nofice by mail of .
any loss, and Mortgagee may make proof of lou if not made promptly by Mortgagor. Each insurance company concerned
shaU maice .payment for such loss directly to Mortgagee~ as its interest may sppeu, (tnstead of jointly) and the insurance
proceeds may be applied by Morigaga, as its option. either to reduce the indebtedness hereby secured or to the restoration
ot the property damaged. In any foreclowre, or other transfer of the mortgaged prope~ty in extinguishment of the indebted-
ness secured hereby, aU intereri of the Mortgagor in said inwrance policies shatl pay to the purct?aser or transferee. If the
~arties hereto agree, Mortgagor will carry Gfe insuiana upon their lives, in an amount equal to the aggregate unpaid indebted-
neu secured hereby, with Mortgaga ramed as beneficiary.
3. WASTE To keep the mortgaged property in its present condition, reasonable wear and tear expected,
and to commit or permit no wute of the mortgaged property.
4. CONVEYANCES ~
JUNIOR UENS ~
AND ADDITIONS To permit no foreclosure or execution proceedings to be initiated on ~ny junior lien and, in
any event, shall immediately notify Mortgagee in writing of any litigation affecting the mortgaged property. The title to the °
mortg,aged property sttzll aot be tr:nsferred without the written consent of Mortgagee. In any event, however, Mortgagee
may dal with wcassors in interest in the ume manner as with Mortgagor, and may forebeu to sue. extend time for pay-
ment of the debt, or otherwise act without affecting the liibilit'y di the Mortgagor hereunder. To erect no new oc additionat
structura, and rtuke no additions or altentions, as well as no demotition, dismanteling or removing any of the existing,
~port~aatd Property without the prior written consent of Mortgaga. p R~~~
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