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HomeMy WebLinkAbout2698 C-692A cr 58889 -2 THIS MORTGAGE INDENTURE o ~ t:.ecuted thit 14 day of Apri 1 . A.o.. ts80 • by ~~i~~~ ROBSRTA LOONTY, unmarried parry of the lust pmt Ihersrnalter called Mortyagorl, to CHASE FEDERAL SAVINGS AND LOAN ASSOCIATION a corporation exishrg uritler the laws of the Uniteal States of America, party of the second part (herernaltN called the Associationl, WITNESSETH, That for dryers good aril valuable consitfereuons, and to secwe the payment of the aggregate sum of money named in the promissory note of even date herewith, heranatter mentioned, together with interest Ihereori ani1 all OthN Sums of money f![wed hereby as herernattsr provirltd, the Mortgagor doss grant, bmgarn, sell, alien, remise, release, convey and confirm unto the Association, m Ice simple, the following described real estate, of which the Mortgagor rs now seued and possessed ante m acrual possession, snuate in the Ccwnly of 3T • LUCIT State of Florida, legally deurilred as follows (See Legal Description Attached) av g ,1~ TOGETHER with all suuctwes ancf imquvements now and hereafter on card land and the fixtures attached tFreto, also together with all and singular the tenements. r,ereduaments, easemems, riparian rights anJ appurtenances thereinto trelongrng, or m any verse appertaimrg, and the rents, rsstres, and piotus thereof, and also till the estate. r ryM, title, interest and all claims arnf demands whatsoever, as weft in law as m equity, 01 said Mortgagor m and to the Barrie. and every Part and parcel ttierepl, and also all gas .,rid elective fi><twes, radiators, heaters, eu conduiuning egwpment, machinery, boiler, ranges, elevators and motors, bathtubs, sinks, water closets, water hxrns, pipes, i.,ucets, and other plumtiuy and heating hrwres, maru¢IS, reingeratiny plans and ice boxes, window a.rrlens, screen doors, vetseuan blinds, storm shutters and awronys, which .tie now or nwy hereafter per taro to ur ere used with, m or on nerd gemises, even though they tie detacheaf or detachable, are and shall tae deemed to Ixt hxwres and accesvons to the bcchuld and a part of the realty, and, d the above described property is now a shall hereafter be used for commercial pwposes, Theo the lurmture arW fwmshrnys and .,ny replacements thereof which may be owned by the Matyagpr and which are now or may hereafter tl! located upon the above described property. TO HAVE AND TO HOLD the same, together with all the estate, right, title, interest, homestead, dower and rght Of dower. sepmate estate, q,~ssession, claim and ,remand ,rYtiatscever, rn law or m equty, ut the Bait Matyagor in and to the same, and every part thereof, umo the said Association m lee simple. The MortgaWa hereby covenants with the Associaum that the Mortgagor is indefeasibly seized with the absolute and lee simple title to card property, and fix tuft power. an,l lawful awhouty tit Berl, convey, nansfrr arxf mui tgage the same. that it shall tie lawful at any um; hereafter Ior the Association to peaceably and gtuetly enter upon, h.r. e, hold aril enjoy said property, mxf every part thereof, that s.nd proper ty rs tree aril discharged from all liens, encurnbr anent, and claims of any kind, mtludirg taxes and .+ssesuttents, e.cept the ben hereof, which is a first hen on said property, that the Mortgagor will make such further xswances to perfect the tee simple title to card prtperty .n the Asstxrahtx, as may reasunetdy he rrywred. and that the Alor tyagor dues hereby tufty wan ant unto the Assocrauon the title to said properrr and will defend same ,q,,~nit the moryeye crams and demands of ail persons wAiomscevei- NOW. THEREFORE, the cunthtiun of this mortgage is such that it the Mortgagor shall well and holy pay unto the Association, the rridebtrvlness r:,dencM by that certain promissory note, of even date heremth, made by the Mortgagor and payable to the Assceratwn, m the principal sum ,tFORTCY SSVSN THOUSAND, SIX HUNDR$D and NO/100------------------------- DOLLARS ~c 47 , 600.00 1, together with interest as therm stated, payable over a term of 348 months, amt shall nee form, Comply with and abnle by each an:f every the shpulatiuns, agreements, condrtrons and covenants contained and set forth m this mortgayr and rn the promissory note favored hereby, risen this muny.tge arxf the estate herNry created snail tease and tae null and void. TRANSFER OF THE PROPERTY; ASSUMPTION If all or any part of the Property ur an interes[ therein is sold or transferred by Mortgagor without Association's prior written consent, excluding (a) the . reation of a Iran or encumbrance subordinate to this Mortgage, (b) the creation of a purchase money security interest for household appliances, Ice a transfer icy devise, descent or by operation of lase u.ion the death of a loin? tenant or (d) the grant of any leasehold interest of three years or less not containing an ,+i,tion to purchase, ASSOCIahpn may, at Association's option, declare all the sums secured by this Mortgage to b6 immediately due and payable. Association chaff have waived such option to accelerate if,_prior to the sale or transfer, Association acid the person to whom the Property is to be sold or transferred reach .,areement in wnring that the credit of such person is satisfactory to Association and that the interest payable on the sums secured by this Mortgage shall be ,t such rate as Association shall reyuest_ If Association has waived the option to accelerate provided in this paragraph and it Mortgagor's successor in interest i~.as executed a written assumption agreement accepted in writing by Association, Associa_ion shall release Mortgagor from all obligations under this Mortgage -,^.d the Note. - If Assoc retiori exercises such option to accelerate, Association shall mail Mortgagor notice of acceleration. Such notice shall provide a period of not less than F JO hays from Ute date the notice a mailed within which Mortgagor. may pay the sums declared due. H Mortgagor fails to pay such sums prior to the expire •~nr, of such period, Assouation mar. without further notice or demand on Mortgagor, invoke any remedies permitted by paragraph 15 hereof, AND the Mortgagor does hereby covenant and agree 1 To pay all and singular the principal arW interest end other sums of money payable by virtue of Bard promissory note and this mortgage. or either. promptly on the dais resp¢Ctirely the Sam@ SQVeratly become due 2 To pay all and singular the taxes. assessments. other governmental lanes. hsbdiues. obtigatrons aril encumbrances of every nature ort said described property i and the related debt acquisition each and every when dos and DaYSbte according to law. before they become debnquent and. d the same shall rat De promptly yard. the Assocratron may at any rims. either before or after delinquency. pay the same without waiving iN affecting the option to foreclose. or any right hereunder and every payment so made shau riser interest from the date thereof at the rate of eighteen per cent I18`>ol Per annum ' ~ 3 That the Mortgagor will keep all real and personal property now or hereafter encumbered by tfte lien of this miortgage insured as may be regwred from time to ~ '.rive by the Associalron against Toss by lire. windstorm and other hazards. casualties and contingencies for such periods and for not less than such amounts as n:ay be reywred by the Assocraton and to Ray promptly when due all premiums for such insurance Mortgagor agrees to deliver renewal W replacemem crot~ues of any na[we or replacement certificates of insurance to the Association. at least ten (1 OI days prior to the expuation a anniversary date of the existing ~ twi~ues The amounts of insurance regwred by the Association shall De minimum amounts for which said insurance shall be written and rt shall be incumfxn[ ulwn the Mortgagor to maintain such additional insurance as may be necessary to meet aril comply fully with all co-insurance requirements contained in said ~ poi,cres to the end that said Mortgagor is rata co-insuror thereunder Inwrance shall be written by a company w companies approved or designated by the Assouat,ai a:W au policies and renewals thereof shall be held by the Association Atl detailed tlesignatrons by the Mortgagor which are accepted by the Association and all agreements between Mortgagor and Association relating to mwrance. now existing or hereafter made. shall be m wntirtg and shall be a part of this mo+tgage agreement as fully as though set forth verbatim herein and shall govern both parties hereto and rhea successors and assigns No ben upon any j of said pohcres of insurance or upon any refund of return premium which may be payable on the tancellateon or termination thereof, shall be given to other than IE{ the Association a¦cept by Woper endorsement aNixed to such pdtcy and apj~roved by the Association Each pottcy of mwrance shall have affixed thereto a Standard New Yak Mortgagee Clsuss without Contribution. making all foss or losses order wch policy payable to the Associatan as its interest may appear t In the event any sum a sums of money fxcome Dsyable thereunder. the Associatan shall have the option to receive and apply the same on account of the in- i debtedness hereby secured. or to permit the Mortgagor to receive and use it. or any part thereof, without thereby waiving or impairing any equity. Iran or right under and by virtue of this mortgage In event of loss or physical damage to the mortgaged property, the Mortgagor shalt give immediate notice thereof by mail to the Association and the Association may make proof of bas if the same is not made promptly by the Mortgage In Brant of forscbsure of this mortgage. or other transfer of tit?e to the mortgaged property. m extingwshmsnt of the indebtedness secured hereby. all right. titb and interest of the Mortgagor rn and to any rnwrance pdicies then in force shall pass to the purchaser or grantee Ths Mortgagor further agrees to abide by the rules and existing regulatans of the Associalron in conntxtan with required insurance coverage of tM property herein encumbered 4 Paragraph 4 and those which folbw era contaired on the revsrp ads of thts mortgage and b1! reference are tr?corpaated into tM body of this mortgage. The terms Mortgagor and Association, whenever used in this instrument, shall include the hors, pertonsl representatives, wccessors or assigns of the retplctive pmtres i hereto. Wherever used, the singular number shall include the plural and the plural the singular, and the use of any gender shall include all genders. !N WITNESS WHEREOF, these gemrtes have tiers executed on the day end year first shove written. 1 Sgned, sealed end dNrver in the Presence ol. ISEALI SRTA LOO Y R ~ ISEALI 7 ISEALI f I 4 ISEALI J't ~A<<o F sTwTl1DK.4 FLORIDA couNTVOF MARTIN ~II - , Trte foragoirrg tnst;rumcnt was acknowledged before me this 14 day of Apri 1 , tg 80 br 'at s~ ~ j - -°ROBSRTA LOONY, unmarried taw .otrsrec a - LENDER ' ~ r - Notary PIl6lfc, Stale of Florida at large nsy corrwmssiort sxeiras y omffussion E:pins Dec. 13, 1982 ~ . ~ , - ~ haa~d y Ar,»r.can c.a a c..o.sy to.p..x RIDA ' Notary Public, Start of - 9~~~3~ ~e~E~ .