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Home My WebLink About0540 4. lnat ~n urd@r io prwec~ more f~uy ihe secumy of m~s mo~~yap~ t?+s Mor~yaQa ioyeine~ w~~n. e„d ~r~ d0(7.UOn !O Ihp ~nonthly yaY~~~e~US undBr ~he ~Bnn3 0l ll~¢ note secwed hereby on the spetd~td psymeM dste o~ esch monlA untJ ine sa~d nole ~s ~u~~y pa~d wJ~ Vay to t~e Assa:~al;un the b~~ow~ng w~ns la~ An ~nstallmem ol tt+~ tuN Md ~ssessments lev~sd o~ to ba ~~v~ed aQsmst tno Wem~ses corered by i~~s mu~tga~~e. a~~d an ~nstaun,e~~i of tne V~~~~~um or {remwms th~t wdt bsCWr+~ du~ ~nd WY~DN lo renew th~ msuiince on Ine p~em~ses Covr~rd hereDY agd~~~sl loa~ Dy hrn a~d w~~dsturm 3a pwv~ded 1a by parag~aph 3 pstW~nq w such otMr h~iard ~s m~y rssson~Dly b~ ~eqw~ed by itie Assoaatwn. anA an ~nstaument ol tlie p~smwm ~ha~ w~t~ become due a~d psYSbla to re~ew tne maiQaps ~~sui~nc~. d ~nY Such ~nsta~lments shal; De eQuai ros4~ecuve~y tu a~e Iwe~~lh (1 ~ 12th1 ot the es Umated premwm q prlmwm3 ~O~ SuC~ ~nSUr~nC~. snd t~a~s s~d assessments ~eat due las esumated by the Assouat~onl ~ess a~~ ~nsta'iments a~ready pa~d the~ef0~. drvd~d by tIN numW~ O~ mOnlhS tAit ir~ t0 t4p5! On! month pr~a to lhe dal0 w~b~ such premwm O~ premiums a~d taies a~xf assessments w~U bscome dei~nqu~M TAe AssOC~aiwo. whds spplym0 such payments to ~nsurante prem~ums ta~es and assessmenis be~we ?he Sav~e trecome de~~+Wuent. shall nOt p~Y ~~terest to lM Mptpsya On suth lunds. and stl suth payments may be comm~ngled by I~e Assoc~at~on w~th any othe~ su~h funds a w~th ~ts own funds TM ~unds us p~eAp~d as add~uonal secu~~cy for the sums secured by tn~s Mo~~gage and are sub~ect to use ~r tt+e Assoustan ~n psyment of "ISte tharpes' ~nd Wnk collectwn char9es ipl All paYmBn1S mO~tWnld m~e precadnp subiectwn ol th~s paiag~aDh all payments to ~e made unde~ the note SeCUred Aereby iha~l be added toyether and lAe agg~egat0 amOUM tl~sreOf S~sll b! pa~d by tA! Matyaqo~ each month m a s~ng~e DaYmeM to De a{W1+ed Dy tAe Asspuahon to the 1u~bw~ng ~tems m ths o~dar set lath 1 Taxss. ssssssments. snd ~nwisnce p~em~ums 2 Late cha~ges and bank collecuex~ charges unless pa~d ~n manner prov~ded m psra9raph ~ ~ai 3 ~merest on the ~ote secured hereby 1 Amortuatwn o~ the pnnupa~ ol saed rwte Any defK~ency ~n ths amount ot such agpreyate rtwmNY paYme~ts sAall. uMess pa~d by the Mortgayw Prwr to ttie due efate ol the ~ext such yayment con ~ stuute an eve+u o1 default under tha mo.tgage W~thout wawer o~ any nght the Assoc~atan maY coliect a~ate cha~ge" as pranded in the Note 5 ihai the total of the payments ~nade by the Matpspa unde~ Isl of parap~aph 4 p~eced~ng shali e;ceed the a~wunt of oayme~~s actusuy made by tne Aswc~ae~on tw ta:es a~d asssssmenls and ~nw~a~+ce promwms. as the use may be. such e•cess shail be cr¢d~ted by the Assouat~o~ on subsequent payments to be macfe by ~he Matgaqa ~t ?wwever. the monthly p~yments m~de by the Mongagor under la) o~ pa~ag~aph 4 preced~ng sna~~ noi have bee~ suthuem io pay ~a¦es and assessmaMS a~W ~nw~a~ce Wemwms. n ths csse msy be. when the same s~a~~ become due and payable then the Assouanon may at rts op nun. ~mmed~ately pay such taaes and ssssssme~ts a~d ~nsur~nce Wemwm. and t~e Mortgaga s?wt~ pay ro tAe Assouauon any amount necessary to make up the de6ae~cy and wch payment shail be due a~d psYaWe wrthm lAuty (301 days ai~er the date ol mad~~g of nouce bY t~ Assouauon setung tatA the amoum o} such defiuency 11. at any ume. the MonpsQa sAS~~ te~der to t~e Assouatw~. xcordance wrth the prov~sw~s o~ the ~ote securgd Aereby. fuu paYment o1 ~he enure ~ndebtedness reWesented hereby. tMe Assoastron sha~~. m~wnPuunq the amoum o~ sucn ~~edebtee7ness. uedu m the accoum ol the Mortgagor any bala~xe rema~rnng ~n Me furWs accumulsted u~• !!x p'o~'s~ons o~ lal ol pa~apraph 4 6 To pe~m~t. comm~t a wMer no waite. ~mpa~rment a deterw?stan ot s~~d p~operty. o~ anY Dart the~eot and upon the ~adure ol the Mortgaga to keep tne p~,b,ngs on said property ~n QoOd corditwn d?spsu ~nd ma~nts~snte. the Assot~st~on maY ~ma^d Proper ma~~tenance and the immediate ~epa~r o1 sa~d bu,kLngs a an ~ncrease ~n the amount ot secunty. a the ~mmed~ste ~epayment ol ihe debt ~e~eby secured. and the ~adu~e ot the Mortgaga to comply w~tA sa~d demand ol ehe Auoaatan ta s perwd o1 tMrty (301 days shaU consUtute a breacn o~ ttus mortgage. and. at :Iie optwn o~ the Assoc~at~wt. ~mmed~atelY ma~ure tne enure amount o( W~napsl and ~ntsrest MreDy secured. and the Assoaatan ~mmed~ately and w~thout ~ot~ce may ~nsutute procaed~ngs to tweclose th~s mwtgage and appiy 1a tM appo~ntmant of s recerver. as here,n~he~ p~ov~dad. and ~n case o1 the ~efusal. oeglect or ~nab~hty of Me Moregaga to repau a~+d mamta~o sad property. tM Assouatan m~y. st ~ts optwn. m~ke such rspa~rs w cause the same to be made. and adva~ce moneys m that behaif 7 To pe~iwm comphr vmth a~d ab~de bY esch snd every the supulauons. ~preemeMS. cond~uons and covenants ~n sa~d prom~sswy note and ~h~s mortgage set forth 8 To comply w~th the subd~wswn restncLOns and the munK~psl ion~ny ord~nances app~Kable to the mortgaged pope~ty. ~ot to erect o~ perm~f to be erected any PY new bu~IC~~ngs on the p~em~ses here~~ ~wrt9~psd a to add to o~ perm~t to be sddsd to. make or perm~t to be made. any structural alterat~ons to any o the e¦ ~sung ~mprovemeMS the~ew~ wrthout !be wntten consent of the AssotWtw~. and m the evem ot any v~olauon or attempt to vrolate these suputat+ons. or any ol chem. cn~s mor[gage and all wms ucured he~sby shslt ~mmed~ately become due and payabie at the opt~on of t?~e Assoaauon g That ~n case ol a detault ~n any ol the terms of tMS maty~9e and ths fihny o~ a M~I to faecbse th~s w any other matgage encumbenng the wrth~n descnOed prope~ty. the Auouatron shstl be ent~tisd to ~pp~y. at snY t~m~e vmthout not~ca pe~+d~~g such foreclowre w~t. to 11~e court hawng ~unsd~ct~on thereof tor the aD pwntment of a ~ece~ve~ of a~~ and s~nguiar the mwtQs9ed property. and of s~~ t1+e rents. ~ncomes. wof~ts. ~ssues and revenues thereof, from whatsoever source denved. and. the~eupon• rt~s ?+ereby exp~sssly covenanted and ap~eed that the court shall lorthw~ih appo~nl a recerver ot sa~d mortgaged p~operty. ati and s~ngular. and of wch rents. ~~comes. prof~ts. ~swes and rovenues thereof. from whalsoever source der~ved. wrth the usuai powers a~d duues ot recerve~s ~n I~ke cases. and such appamment shall be ma0e by wch courl ss a mattsr ot strKt npht to t1~e Assouauon. snd w~thout ~efere~ce to the adequacy o~ ~~adequacy o~ the vaiue o~ the pq~e.ty he~eby rt+atysqed. a to the so~vency w msolvency of the Mortyaga. aod that wch rents. pro6ts. mcomes. ~ssues. and revenues shal~ be appl~e.i by such recerver to ihe paymaM of the mwtpspe mdebtedness. costs and charges. acco.dmg to the order of such court tO That m the event the ownersh~p of the mortpsged Wemises. a a~y put thereof. becomes vested a person otAer tAan the N4ortgaga. tAe Assouatan may. w~lhout nobce to the Matgagor. desl with wch successw or wcceuas ~n interest w~th re}e~ence to th~s mortgage and lhe debt hereby secured ~n the same , manner as w~th the Mortgaga. nnthout ~n,sny way v~t~at~~+p a d~scharp+~g the Mortyagor's habJ~ty he~eunder or upon the debt hereby secu~ed No sale ol the Frem~ses he~ebY ~~9aged and no fpbearanca on the part o( the Assoaatwn. and no e¦tens~o~ o~ tne t~me ~or the payment ot the debt 1~ereby secured g~ve~ by the Assouatro~. sha~~ operate to retease. d~sc~arpe. mod~ty. chsnpe or aHect tAe ong+nal I~abd~ty of tbe Mortgagor Aere~n. e~the~ W~~e o~ ~n part ; 1 That m thC event tAB premiSls he?!by mort9apEd. W any part ihlrE01. Shal1 be cOndEmnEd and taken undCr the pOwer of em~ngnt dOma~n. the AsSOUatwn shalt have the rght to demand that all damages awarded lor the takmg of a~ntury to sa~d wem~ses sAa11 be pa~d to the Assouatro~. ~ts wccessors o~ ass~gns. up to ine amount then unpad on t?e~s mortgage a~d maY be aPd~~ to a~y wms last paYabla hereu~de+ 12 That nme ~s of the essence of th~s coniract and that no warver ot any oDDgalaa hereu~der. o. of ?ne obl~yauon secured hereby shall at any ume thereafter be held to be a warver o! the terms hereof w o1 the p~om~ssory note secured hereby 13 in the eve~t of any default ~n a~y Of thE terms of th~s mongage. or in the ~wte Secured hereby. and acceierat~on by Ihe ?wlder or anv other s~tuauon that would cause the ~nterest pa~d or payaWe under tMS oblpatWn to exceed the mterest ~ate authorued by law. then m such event aIl excess~ ~nterest theretofore pa~d snall be cred~~ed to pr~nc~pa~ a~d a1l aCCruld ind unpa~d !ttlSS ~nterost sAall sbate and s?~at1 not be an oW~gauo~ of [he mekEr or O~ any OtA¢r per5on 14 That to the eatent ot the ~rWebtedneu of the Mptq~~7a to the Assoustwn descnbed he~e~~ or secured hereby. tne Assouat~on is he~eby wb~ogated to the 1~en or nens and to the nghts ot tAe owner snd holder thsreot ol eath and every mwtgage. ~~en w othe~ encumbrance on the land descnbed here~n. wh~ch ~s oa~d and Ii saUSfied ~n wbole or m part, out of the poceeds o~ the losn descnbsd txrem a secured herebr. and [he respect~ve I~ens of sa~d mortgages. ~~ens o~ otner en ; cumbrances sAail be a~d the same and each ot them hereby ~s preserved a~+d s~w~~ pass ta and be hetd bY the Assoc~auon Aere~n as secunty (or tAe ~n- F debfedness ro the Assoaal~on here~n descnbad or Aereby secured. to the same extent that ~f wouid hare been p~eserved a~d would have been passed to and ; been heid bv tt~e Assoc~aUOn had it bee~ duty and repu~srly ass~pned. transferred. set ove~. and de6vereo unto the Assouauon by seDarate deed of ass~gnment. j notwrtnsta~d:ny [he tact that tbe same maY ~~USbea and cancelled o~ recwd ~t bemg the ~ntent~on oi the parUes hereto that the sa~*~e wdl be sausfied and ~ cancelted o1 record by the 1aWen thereol st a about the bme of the record~ng o{ th~s mortgage 15 That ~t anY of the sums of money here~n re(erred to be ~ot promptly and fully pa~d w~thm th~riy i30! days next a(te~ the same seveial~y become due and payaWe or ~i each and every the st~pulatwns. agreements. cond+twns and covenants of sa~d prom~sso~y ~ote and th~s mortgage. or e~ther a~e not duly performed. com f pl~ed w~th and ab~ded by. the aggrEgat! wm unpi~d urider sa~d Drom~SSOry note aRd Ih~S mortgdge shd~l be[ome due and paYabte forthw~[h or thereaftCr, at the ~ optron of the Assoc~at~on. as fulty and wmpleteRy as rf sa~d agyrepate wm of money were or~g~na~ly supu~ated to be pa~d o~ such day anytn~ng m sa~d - p~om~sxxy ~ote w here~n to tAe contrery ~otw~thstand~ny ~ ~ 6 That m order to acceleiate the matunty of tt~e ~r+de~tedness hereby secured because oi the ladure o~ the Mortgago~ to Day any ta¦ assessment baDdrty cW~ga ~ t~On o~ encumbrdnt! upOn 58id p~Oplrty i5 h6rE~r ptOV~dld- rt ShAlI flOt b@ nECeSS2ry nOi fEQu~S~te that the AsSOG+dLOn Shd~~ f~~51 Day th@ sam@ ~ 1 7 If a convevance shoutd be made by the Matgago~ of the p~em~<es fxre~~ destnbed or any part ~e~eof. and the g~antee named ~n such cwweyance la~is o. refuses to assume the payment ot tAe ob~~yat~on ewdenced Yy sa~d prom,ssory note and secured by tA~s mortgage and ~n accordance w~th the~r respei:t~ve ~ ce~ms and aD~de by the rules and regolaaons o} the Assousi~on. ~ndud g DaYment of a reasonab~e t~anster tee tnen ar.d ~n that evenc a~ tne op[~on and upo~ the demand of the AssOCiatWn all sums of mpnlY sEtured herlby shatl ~mm2d~ately become forthvmth due and payaWe ~ ? 8 That t~ abstrad or abstracts o~ Gtle covenng Ih! mwtgaged prope~2Y shall at all t~mes dunng the 6fe o} th~s mortyaye. rema~n m t~e possess+o~ oi the Assoc~at~o~ and. ~n event ot the taeclosure o} th~s mortgaQe. w other transfer oi t~tle to the mo~tgaged p~ope~ey in e~t~ngu~ihment of the ~ndebtedness secur¢d nereDy au nght. ntte and ~nterest o~ the Mortga{ior m and to any such abscracts o~ ntle sha~~ Gass eo ~ne purcnase~ or grantee ~ ! 9 Sno„~d tne vai~day w I~en of th~s murtgage. or thp note securcd the~eby. be co~tested by I~ugauon o• otherw,se tne Mortgago~ agrees to pay ro the Assooat~un ~ the cost oi Aelend+rg the same ~~~ud~ng a reasa~able attomey s tee 20 To pay a~~ and s~ngular tt~e costs. charges and e:penses ,ndudmg ananey's fees ~easonabty ~ncurreA or pad at an~• ume by the Assx~auon because of the fadwe of the Mortgagor to pertorm. comply wrth and ab~de by each and every the snpulaLOns a,yreements cortdmons and wvenants ol sa~d prom~sswy noie ~ anA th~s mortgage. or e~iher, and every wch (eacept for the paymeM d the monthly instailment as ~equvetl by the Promisscry Noie) shal! bear mierest from ~ date at the rate of ten per cent (tU36) per annum unt~l tutly pa~d ~ 2 1 The Assoc~aUOn shall have the nght at any t~me a~d from Ume to t~me 2nd w~thout rroUCe to or consent oi any person to tai re~ease a~y port~o~ o~ the prem~ses ~ from Me !~en ol th~s mortgage (b; retease any person hsWe for payment of anY ~ndebtedness secured hereby ic! e~tend t~e t~me o~ payment or alter the terms 01 payment of ail or a~v Part o~ the mdebtednass. w~t?wut aHect~ng o. releas~ng the personai t~ab~i~ty of any person I~able lot~er thdn any person re~¢asCd pu~- s~a~c hereeo~ tor [he varment ot any wm o~ ~ncerest secured hereby and w~thout m any w~se d~tenng vary~ng o~ d~mm~sn~ng the ~orces e«ects or lle~ of th~s ~ mo.tyage on all the prem~ses not speufically re~eased from the ~~e~ o~ thcs mortgage Ay the Assooat:o~ ~ 2T Any ayreeTent nereaher made by Mortgago~ and AssouaUO~ pu~sua~t So th~s mortgage sha:l be supe~~o~ to tne rrghts oi the hoide~ of any ~nterven~ng i~e~~ o~ ¢ncumbrdnte Z3 Vpon .e.7~.est o? Morcgagor the Assouauon may. at ~IS SOIC opti0~. from Lme to t~me be}cre fuit payment of aii ~ndebtedness secured nereDy mawe turthe~ ad ~ van~es ro Mortgagor. prov~ded. howevEr that the tatal pnnupal secured hereby and remammg unpa+d ~nclud~ng any such advances sha~~ no! at anY Lme eR _ ceetl the ong~nal Drinupal sum SCW~Cd hE«by MOrtgagor She~~ p2Y a~~ Such furth¢r adv2ncE5 wrth meeres~ a~d the sar*~e sna~~ be securecf hereby An provis~on5 o~ th~s mortyage shatl apply to each iurther advance ss well as to al~ orher ~ndebtedness secured hereby Noth~ng here~n co~ta~ned however. shatl l,m~t the x+ amount sewrea b'v th~s mortgage such amount ~s mcreased by advances made bv the Assouanon as t~e~em elsewhere mov~d:J /or ta protect the secunty 24 In th° eveM [he Mort a or herem. or an wbsequent Mort a or an ~son ot co~ raLOn ownm_ an mferest whatsoever. should encumber the ptoperty ~ 9 9 Y 9 90*~ Y Pe Po 9 V here~n mortyaged by a~ mstrument comrtwnly referred to and known as a' wrap a~ound mortgage' w~thout firsi obta~mny the wrrtten consent ol the Assoc~a uc~. then at tf~e opbm oi the Assocwtwn. the obhgatron secujed bY this Mwtgaye shall immed~ately become due a~:i payable ^s ~ 25 To pronde the AssoaaUO~ vr~th ftood Inwrance Coverage d ~he real property ~s now or hereaher determ~ned to be w~th~n a spec~al tlooA bazard area as shown ~ on Ffood Harard Boundary Mapiflood truurance Rate Map as pubhshed by ehe Federal I~su~ance Adm~n~stra:~o~ 26 At the request ol the Mortyagcx. the Assoc~ata~ agrees to wa~ve the D~~~s o( paragraph 4 relatwe to the creatron ot a ta¦ and haiaid mwrence account: prov~ded. however. tnat the Assocwtion rotams the nght. at its optwn. to re~nstate such prov~swns o/ sa~d paragraph 4 as an oW~gauon oi the Mortgagor r--' herew?der upcn the happening o( arry of the foNow~ng ~ A Trans~er oi the r.wrtgaged premises. a any part thereof 8 Fa~ture to make any Fayment re4uued under the terms o1 the no~e on or before the Aue date thereoi C To Ael~ver to the Assoaatron. on w befwe March 10 0~ each year taa rece~pts ~v~denony the pavment of all lawfuily ~mposed taxes tor rne p~ecedmg calendar year. to debver to the Assouat~on rece~pts ev~denung the paYment of all hens for ~wblrc ~mprovements wrth~n n~nety i901 days afte. the ~ same sba~l become due and payabte. and w pay or d~scharge w~th~n n~nety 1901 days atter due date any arxf all yovemmemal Iev~es that may be made o~ the mortgaged property D Fa~lure to comply w~th the msurance p~ov~swns ol paragraph 3. o~ oi any o~ the other terms anA cond~UOns of th~s mortgage o~ =~c note or with the ~nsurance requ~remeMS co~tamed m the Ueclarauo~ of Co~dom~rnum a~cf related document~ shouM the mo~tgayed property be committed i ~ to condom~mum devel ment , ~ '979 J.'', -6 P?; 3~ F ~ ,~?-N~.,~ , ~ FILEOI:tit k~:C~iti;tU 4469~31 ~ C 310 ° ` ~40 ST.LUCfE CCCY~Y.F~A. ,.+~Ga 4~ a~;,.. AL~ fiOGER POITRA5 ~ CIERK CI~CUt? C~OUR~~_~(. ~ - n n.n.~....,.~.~.,