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4• Thae ~n urder to p~utect ~nore iulry the sacu~~[y ol ~h~s mo~~ga{~s. iM Ma~Qapo~. tuyeine~ w~~n a~K1 dtkt~t~un t0 thp monthly pdy~nrnis ~ndBr t~~e tr~~ns o1 Ilie
nu~e sscured hereby on tAe spst~h~d psymem dit~ ot eath montA untJ th~ sa•d nuta ~s fuuy pa~d. w~N pdV ~o tne Assuc~auun ihe fuuuw~ny sums
la~ An ~nstal~mem ot the tsYSS snd assesiments levied o~ to Ds lev~ed sqs~nit the pram~ses cuveiecl by th+s mortya!~e and dn ~n1id~~~nen1 Ot Ih~r y~emivm
or p~emwms tha~ w~li becoms dus and paY~bl~ to reoew ~hd ~nsursnce on tAe prem~ses cavered he~eby aya~ns~ tu.~ by lue 2nd w~nVSluim, aS prowd¢d
fo. by paregrapA 3 piscsd~nq. or suc~ othsr h~sard as may rsawnsbly t~a ~eQu~~ed bY the Assoaauon. arW an instaltmaM ol the y~em~u~» 1ha1 w~~l
become due and paYable to renew the mo~ipips mSUNnt~. d anV $uch ~nita~lme~ts shau be ~ua~. ~espectwely to une tweltt~ Iti12th1 01 Ihe es
t~mated pr~tmwm ~ pi0mwms IOr SucA ~ntuqnt~. snd t~ass and asssssments neat due Ias esumaied by the Assx~aaonl less su mstaume~~ts aiready •
pa~4 IROrelor. d~v~ded by tM numbsr ol months th~1 ~re to elspss o~e month pr~o~ ~o the date when such prem~um o~ premwms and la~es a~uf
a~sessmenls wdl b~tome dehnqulnt Ths Assow~twn. wA+le applY~n~ such paYmenis to ~nsucance {Ham~ums taans and assessments belore tne w~~~e
become dehnQuent. sh~ll rq! pay ~nb~est to ths Matpapor oo such }unds and su sucn payrneni5 mdy De comrmngled Dy IAe ASSOadl~un w~ih dny
utner such funds a wUh ds own funds The funds are ~1ed9sd ss sdd~uonsl secw~ty for the sums secured Dy th~s Muitgaye and are sut~ect to use by
the Assoaatwn ~n payment of ' late cAatpes" snd Dar.k coltecUOn cha~pes
Ibl All paymems menuo~ed m ws preced~ny subseawn ot th~s parag~aph and all paymBnts to be maUe unde~ ihe ~ote Secwed liereby shdll !~e added
ioge~he. and [M aggrogate smount inereof sna~~ be ps~d by ~Ae Mw~payor eacA mon~h m a s~~yie payrt~ent to be auv~~ed ~v the Assoc~ana~ eo the
follow~ng ~tems in ihe ordsr ssl lath 1 Taxes. assessments. snd insurente Wemwms 2 Late charges and bank collecnon c!~arges unless paid m
manna~ prov~ded pa~aqrsph 4 Ia1 3 Interost on the note secu~ed hereDy 4 Amo~UiaUOn of !hE V~~~~~Val ot sa~d note
Any de(~uency in the amount of wch ag~egate monthly paymenls shall. unless pa~d by the Matgayor pr~u~ to the due date ol ihe next such paymen~. con-
sUtute an event ol de(ault under the matgags Wrthout warver ot any nght. tbe Assouauon may collect a' late cha~ge" as prov~ded m the Note
S TAat d the roul ol the paymsnts made by the Matpapor u~der Ia1 0l pa~aprap~ d preced~ng sha~~ e:ceed the amount of payments aqua~ly made by the
Assoc~auon for ?a¦es a~+d asssssments and ~nsurance prsm~ums. as the case may be. such e¦cess snau be cred~ted by ~he Asux~auon on suDSeQuent payments
ro be made by the Matgagor If. however. the montnly paymeMS made by the Mo~tpago~ unde~ (a1 ot pa~ag{aph 4 preced~ng sha11 not have bee~ suffic~ent ~o
pay laies and assessments and msurance p~emwms. as tAe case may De. when the same sha11 become due anti payable. then the AssouaUOn may. at ~is op
uon ~mmed~ately pay such uxes a~d assessmems and mswance p~emwm. and Me Mongago~ shau pay to the Assouahon any amoum necessary to make up
the Aehuency. and wch payment sAad bs due and payaW! wRA~n tMrty 1301 days alter the date of mad~ng of noUte by the Assouat~on sett~ny turth the anwunt
ol such def~c~ency 11. at any t~me. tAe MwlysQor shsli te~der to ehe Assoc~at~on. ~n accadance w~tA the prov~s~uns o~ tne note secured herebv oayment of
the e~tihre ~ndeDtedness rep~esented hereby. t~e Assoua[ron shall m cOmput~n9 IAe amount o~ such mdebtedness credrt ro the account of ~he Mu~2gagor any
baiance ~ema~niny ~n Me fundS eccumulated under the prov~s~ons o1 la) ol pira~.raph 4
6 To permit. tomm~t or suffer no waste. ~mpa~rmenl or detenoratan ol sa~d property. or any part tnereuf and upon tne la~lure of the Mortgagu~ to keap !ne
Du~idmgs on sa~d prope~ty m good cond~tron a repsu srW ma~ntenance. the Assouauon may demand p~ope~ mamtenance and the ~mmed,ate ~eva~~ ut a:~d
Duddmys. or an ~naease ~n the amount ot securdy. or the ~mmed~ate ropaYment of the debt he~eby secured and tne ~aJure of the Mortgagor to comply wrth
sa~d dema~d o( the Assoaalron fw a penod of thuty 130) d~ys sha~l coosUWte a breach ot th~s mortgage. and at the opi~o~ of tAe Assoua~~un ~mmed~atety .
matu+e !he enDre amount o( Dnnppii i~d ~nterest hereby secursd. snd the Assoaauon ~mmed~ately and wrtAout noUCe may ~nst~tutE proceed~ngs ro for@CIOSC
~h~s mortyage end apply 1M the appo~ntment of a rece~ver. ss here~nst•er prov~ded. and case ol tne ~e}usat. negiect a mab+i~ry ol tAe Mmtgago~ to ~epa~r and
ma~nta~~ sa~d property. the Assouat~on may at ~ts optro~. ~~ake such repaus or cause ihe wme to Ge made. and advance moneys ~n that beAatt
7 To perlorm complY w~th and aGde by each and evary the sbpulat~Ons. ap~eements. condu~ons and covenants m serd prom~sSOry note and Ih~s moitgag¢ Set
forth
8 To compty w~th the wbd~nsan restnctro~s and the mun~upsl ton~ny wdmances app~~caWe to the mortgaged prope~ty. not to eiect or perm~t to De erected an~•
new bu~td~ngs on the prem~ses Aere~n mortyaped a to add to or perm~t to be added to. make or perm~t to be made. any structurat alterat~ons to any o( the ea
~suny ~mprovements thereon w~thout the wntte~ consent of t~e Assouatan, arxf ~n tne event ot any v~o~auon o. attempt to v~datc these supulauons. o~ any o(
them. th~s mortgage and alt sums secured nereby shall ~mmed~ately become due and paYaWe ai the opoon o~ the Assouat~on
9 That ~n case ot a default ~n any o1 the terms of th~s mortpage and the bl~np of a b~ll to torecbse th~s a any other murtgage encumbe:~ng the w~tn~n deu~~bed
propeny the Assoaatwn shaU be enbtled to spply at any Ume wrtAOUt not~ce pend+ng such forecWwre sun to the court havmg ~unsd~cUOn thereot for the ap
ponrtment ol a recerver ol all and s~ngu~ar the mortgaged propeRY- and of all the reMS. mcomes. p~of~ts. ~ssues and revenues thereo(. from whatsoever source
denved and the~eupon. rt~s hereby express~y covenamed and ag~eed that the court shall forthwnn appom~ a recerve~ 01 ~~d mortgaged property. a~~ and
s~nyular and of suc1+ rents. ~ncomes. p~ohts. ~swes and reve~ues thereof. hom wAatsoeve~ source denved wdh tne usual powers and duues of recewers ~n hke
cases and such appo~ntment shall be made by Such court as a matter o~ str~cl rigAt to the Assouat+on and w~thout reference to tAe adequacy o~ ~~adequacy o~
the value of the propertv hereby matgaged. or to the solve~cy or insolvency o1 the Mortgagor. and t~at sucn rents. p~ofits. ~ncomes. ~ssues and revenues sha~~
be avPi~ed by suth rece~ver to the payment ot the mat9age ~~debtedness. costs and cha~ges accord~ny to the orde~ ot such court
10 Tnat m the event the owners~~D o~ the mortgayed prem~ses. w any Dart [Aereof. becomes vested ~n a person other than the 1~lortgagor. the Assouatron may.
w~tnuut nonce ro t~e Mortgagw. deai w~th such successa a wccessws m mterest wnh re}erence to :h~s mortgage and the debt hereby secured. ~n tbe same •
manner as wrth the Mortgdgo~. wdhOUt anY way vrt~at~np or d~scha~gmg the Mortgago~ s I~abJ~ty Aereunder or upon the debt he~eby secured No sale o( the
p~em~ses ne~eby mortgayed and no fabearance on the psrt of the Assouauon. a~d nc earens~o~ ot thr ume }or the payment of the Qebt nereby secrred g~ven
by the Assouat~on. sha~~ ope~ate to retease. d~sc~arpe mod~fy. cha~ge o+ affect the ong~nai bab~i~ry qf the Mortgayor hererrc e~ther m wtwie or ~n part
1 1 That ~n tne event ~he prem~ses hereby mortgaged. or any part thereof shali be con~emned and ~aken under tne power of em~nent doma~n ihe Assoc~auon shali
nave ine ngh; to demend that a1t dama~es awarded for the tak~ng of or m~ury to u~d prem~ses sha~~ be pa~d tu the Assoc~a2~on ~ts successors or ass~gns uD to
ihe amount [hen unpa~d On th~S mo~tgegC a~d maY b! app~~ed to any sums ~ast payaWo hereunde~
12 That hme ;s of the essence of th~s coMract a~d that no wa~ver o( any oDl~gaLOn hereunder o~ of the oW~yauun secwed nereby s,~au at any ume the~eatter be
~eiA to be a wa~ver o( the terms hereol or of the prom~ssory note secured hereDy
13 In the event o1 any de(ault m any of the terms o1 th~s mortgage. or m the no[e Secured hereby and acceierat~on try t~e holtle~ or any oihei srtuabor. ihat wou~d
cause the ~nte~est pa+d or payable under this obl~gatwn to exceed the ~me~est rete author~ied by iaw. then m such event a!~ excess ~nte~est theretutore pa~d sha~i
be cred~ted ro F~~~~~De~ and a1i accrued and unpa~d excess ~nterest shalt abate and snaU ~ot be a~ ob~~yauon of ~ne maker or of any pther per~n
! 14 That ro the e¦tent ot the ~ndebtedness of tne Mortpago~ to the Assouaoo~ descnbed herem or secured hereey the Assouat~on ~s hereby sub~ogated to [he hen
or i~rns and to ~he r~ghts of the owner and holder thereof ol each and every mortgage I~e~ o~ other encumbrance on the ~ar.d descnDed here~n wh~ch ~s pa~d and
I sat~s6ed ~n who~e o~ ~n part out oi the proceeds of t~e ban descnbed here~~ or secured ree~eby and !he respecnve hens of sa~0 mortgages 6ens or other en
~ cumb~ances sha~l be and the same and eaM of them hereby ~s preserved a:~d shall pass to and be !~e~d bv the Assoc~at~on here~n as secu~rty 1or ihe ~n
j debtrAness to the Assoaabon here:n descnbed pr hereby se~ured. to the same e¦tent [nat rt would heve been preservfed and wouid ~ave been passed ro and
~ t~!•e~~ held by the ASSOadho~ hdd ~t blEn duly and regularly 25S~gned. [r2nSfEired 5Ct ovBr. ynd delwered unro the Assoc~aUOn by separate deed of ass~gnment
nutrwthstandmg the fact Ihat ihE same may be sabsf~ed and cance~~ed of record. ~t De~ng the m[ent~on u~ the parbes hereto that the same wdi be saus6ed and
ca~~el~ed of recorrf by fhe hotders the~eof at or sbout i~e ume o` the recortlmg o1 th~s mortgage
X 15 Tnat ~f any of tAe sums of money herem re~erred to be not prortsptty and fully pe~d w~ihm Ih~rty (30t ddys ne¦t a'ter tne same 5everaily become due and paYa~le
~ o~ eacA ana every tne sUputat~ons agreemeMS condrt~ons and covenants of sa~d prom~ssory note and th~s mortyage o~ e~the~ a~e not du~y pe~formed com
` p~~~d w~~h and ab~ded by. the aggregate sum unpa~d unoe+ sa~d prom~ssory noie and th.s mu~tgage shal~ bewme duc and payabie }o~thwrth or !herea!ter a[ che
~ opc~on uf the Assoc~anon. as iu~ly and ~ompletely as d sa~d aggregate sum o`• money vve~e ony,na~~y supu~ated ro be pa~d on such day. ar.ytn~ng m sa~d
~ pri,m~ssory note or here~n to tne contr~ry nutw~thstand~ng
s 16 T~~at m r~rder to acceterate the matunty of [he mdebteGness hereby sewred becausc of the fa,~u~e u~ the Murtyayor W pdy ar~y ia~ asiessrnen( ~~ab~~rtV obhya
~ hun or encumbrance upon sa~d p~operty as he~e~n prov~ded rt shall not be necessary ~o~ repu~s~te that che Asza:~arun s~aii fvst pay the same
7
~ T 7 If a conveyance shoufd be matle by t~e Mortgagor of the prem~ses here~n desr•~bed or any pa~t hereot a~~d u:e yrentee ~~a,r.ed ~n Suth Cpnvey2nCe fa~~s o~
~~fuses to assurne tne payme~t o~ the oDt~gat:on evrdenced by sa~d p~om~ssury note a~d secured Gy tn~s mortyaye ena ~n accordance w~th tne~~ respect~.e
cr.rms and ab~de by tne ~uies and requlaUOns o~ the Assouabon ~nclud~ng payment of a reasonab~e tr,~nsfer fee then and ~n mat er~ent at the oU~~U~ dnd ~{wn
? the demand of the Assoc~aUOn all sums of money sewred hereby sha~i ~mmed~ately become }orthwRh due and payabte
i
~ tg That the abstract or abst~acts oi t~tle covenng the mortgaged p~operry sna~~ at a~~ nm.es d~nny the hfe u~ tn~s mo•tgaye rema~n ~n tne possess~on of the
Azsoc~aLOn and m event oi the for~!osure o~ th~s mortgage. o~ othe~ trans~e~ o} t~tie te the nwrtgayed v~ac~~SV e~'•~n9~~s~~ment O! tht ~r.deutedness secured
R ~iQf@by aD r~yht ude anel ~nterest o~ the Mortgagor ~n a~d to any such abstracts o~ ht~e ~ha~i pas~ tu tne pu~chese~ o~ y~an~ee _
~
~ 9 Shuuhl [he vahdrty or Len of t~~5 mortgage or the note secured thereby be cuntessed by I:uyat~u~~ u~ ucnr~w~~r tne Mo~tyayo~ agrees tu Uay to V~e Assouauun
~ the cuSt C1 dffend~ny ihC same mclud~ng a reaso~ab~e attomey s fee
Zp To pay afl and s~nyutar the rosts charges and expenses ~nctudmg atromey s fees reasonabty mcurrerf or p;~~~5 .~i eny ~~me b~~ the Auoaauon because of the
ti
~ tadure of the Mortgagor to per/o~m comply w~th and ab~de by each arw every the st~pulat~ons ayreement5 cu~~d~hunti and ~.ove:,ants of sa~d prorn~ssory note '
a~ai tfirs mort a , or erthe~ and ever wch (exce t ~or the Da ment o( the monthl • mstaHmeot as re~ u~red tr thN Prom:stior tiote~ shalV bea+ ~nterest hcm
y~3^ V P Y Y ! Y 1~
date at the rate ot ten per cent (10'i61 per annum untd fully pa~d
21 Tt,e Assoc~at~on shai~ nave the r:gnt at any ume and frorn !~me ro ume and wrthout notrce to ur co~~sent u~ an~~pe~son ru ~a~~ ~e~ease d~~y p~rt,u~~ o~ the prem~ses
~ hum the ~~en of th~s mo~tyaye Ib; relgase 2ny perSOn IidblB ~Or payment Of any ~ndeDtedness sewrea h~ t,y iu e¦tena tne ume ot pa~~nent o~ aiter me terms
~ o~ paY~'~e~t u~ dl~ or any part ol the ~ndebtedness wrthout aHecong or rPleas~ne che per~nat'~~ab~6t•, c` any perso~: ~~ab~e lothe~ inan a~~,y penon released pur
s,;ant nr.rPto~'o~ tne pa~ment of a~sy sum or ~nterest sewred he~eby and w~t~out ~n any w~se a~tenny very~ny or ~~m:n,sn«,y the forces ef~ects or hen of th~s
'i ~ mwtyayP un aU tne prPm,ses not speC~fica~~y ~e~easEd Rom the 4en o~ this mpr!yage by the Assuc~aLU'~ '
s~
22 Any nyreeme~~t hereafte~ ma~e by Mr,rtgagor and Assoc~abon pursuant to th~s mor,yaye sha:, be suve~~u~ to the ~~yhts o' the no;~e~ o~ a~~y ~~rte~ve~~~ny t~en or
en~i,rnGra~~~.e
- ~3 ~[N~~~ ~ey~.est of Mortyagor the Assouat~on may at rts sole Optron from h~ne'o ome De~ure pa~~,ent o! a:~ ~ndebfcar.ess secured ne~eby mawe }urther ad
- .ences to Mortyayor prov~Qed however t~at the total pnnupat secwed hereby a~~d rema~~;~~y u~~Ua~,d m~.iu:L~~y any such ddvdn~e5 sha~; no! at any t~me e¦
~ ~.eeA !he ur~y~na~ V~~~~~~3~ sum secured ~e~eby MOrtg2eGr Shdll Day d~~ such f„rthe~ advances w:tn ~nteres~ and the sa~ne sra~~ Ue sewred ~ ereby Ati prov~s~ons
tn~s mortyaye shau aDP~r to each furthe~ advance as weu as to a1i ot~e~ indeGted~~ess secu~ed hereby Nvthmg ne~e~~ conta:ned however ;nau ;~mrt the
; en~uunt SCCwCd py thi5 mOr( a ~f such amount ~s ~~creased b advances made b• the Asw.~auun as herv,~, elsewherH
y ge y / _ prov~ded for to protect the sewrrty
24 tn the event the hlort3ayor herein or any subsequent Mortgagor or any perwn u~ cor~x,rat:un uwr~~rn; any ~ntr,rest wnatsueve~ shc~uid encumber the property
_ herein mortyagecl by an ~nstrument [ommonty relerred ro and known as a wraU around mo~tyaye wrthuut hrst obtain~ng the „vniten consent ol the Assoua
uon. then at the apuon of the Assoaaaon the obt~gaflon secured hy th{s Mortyaye shau ~mme~bately become due anrf ~a~able
~
25_ To prDnde the ASSOUat~on wrth flood Inwrance Caverage d the real property ~s now or hereafter de[ermmeA ro be w!tlun a speoai flo~f harard area as shown-c -
„.i `a4 Fbod HatarA 8auxfary MdD'Flood Insurance Rate Map as puGiisf:cd by the Fede~al Fnsuranr.e Admen~sirat+nn j~~p
~ .
~ r~~:S C~AI., est ot the hlortgagex. ths AssousLOn ap¦ees to wa~ ~e the prov~s~ons of paragraph 4 relaGve ro the creauon of a harard msurance account. provrded~
, ~hq~Mat the Assoaauon re:ams the repht. at rts opUOn. to ro~ns:ate sueh prov~sions o1 u~d paragraph 4 as an obt~gaUOn of the MortgaEyo~ hereunder upor#,.,.~
~ . ~ . the o(. any o( tM fdlow~ng ~
; ~~,_u ! '~~to make any psyment reQu~red und~r IM terms of the note on or before the due date ihereof
r~ J+~ ~ n to comply with the mwrsnce provis~ons of para9r~ph 3. Or of any of lhe otAer terms and condrtions of th~5 mortgage or note. or wrth the msurance ~
~ ~rements conla~ned +n the Dxl~r~t~on of Condomimum and rel8ted documents shouid the morigaged property be comm~tted to condomin~um C
~ ~ j~~~-:L`~,. : . nt rt~
~ 'I: ~ . r, : .
~ ~,~~~1~ OF FLORIDA ) The forgoing instrument was no le ed before m~y
, ~ BF~- ~~~~'~Y OF MARTIN ) this 4 day of June 7 DRA J. WEEKS
` • ~~c~~i~t ~ ~ C70
~ Notary Ri6~ic, St~te d Florida lsrqe
= tiy C`~Ottln2lSSlOt1 Expires: Mr Commissan Expires Dec. 13, 1982 '
_ ko~.~ E. ~t...~.~ ~..6 OTARY PUBL ~