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' and shall perform, comply wflh and abide 6y each and every the agreements, stipulatloris, conditions and
covenants thereof. and of this mortgage, then this mortgage and fhs estate hereby created, shall eerie, de-
termine and be null and twirl. _
I)<~ the mortgagor hereby further covenants and agrees to pay promptly when due the principal and
interest and other sums of money provided for to said Hole and this mortgage, or either; to pay all and
singular the fares, assessments, levies, ltabtlllies, obligations, and encumbrances of euery nature on sold pro-
perly; to permit, commit or strf
ter no waste, impairment or deterioration of said land or the improvements
therecn of any time: to keep the buildings now or hereafter on said land fully insured to a sum of not less
than highest insurable value
in a company or companies acceptable to the mortgagee, the policy or policies to be held by. and payable
to, said mortgagee, and in the event any sum of money becomes payable by virtue of such insurance the
mortgagee shall have the right to receive and apply the same to the indebtedness hereby sertsred, accounting
to the mortgagor for any surplus: to pay all costs, charges, and expenses, including lawyeri fees and title
searches, reaso?tably incurred or paid 6y the mortgagee because of the failure of the mortgagor to promptly
and fully rnmply with the agreements, stipulations, rnnditIons and covenants of said note and this mortgage.
or either; to perform, comply u?Ith and abide 6y each and euery the agreements, stipulations, conditions and
covenants eel forth in said note and this mortgage or either. In the event the mortgagor jails to pay when
due any tax, assessment, insurance. premium or other sum of money payable 6y virtue of said note and this
mortgage, or either, the mortgagee may pay the same, without waiving or of
jecting the option to foreclose
or any other right hereunder, and all such payments shall bear Interest from dale thereof at the highest law-
ftrl rate Ihen allotued by the laws of the State of Florida.
)L arty sum of money herein referred to be not promptly paid within 15 days next after
the same becomes dire. or i/ each and every the agreements, stipulations. conditions and covenants of said
note and this mortgage, or Dither, are not fully performed, complied with and abided 6y, Ihen the entire
sum mentioned in said note, and this mortgage, or the entire bala?tce unpaid thereon. shall forthwith or
thereafter, at the option of the mortgagee, become and 6e due and payable, anything in said note or herein
to the c~ontrory notu?Uhstandfng. Failure 6y the mortgagee to exercise unp of the rights or options herein
provided shall not conslfttrte a waiver of arty rights or options under said note or this mortgage accrued or
thereof ter accruing.
~n ~itntSS ~het'eof, the said mortgagor {ins hereunto signed and sealed these presents the
day and year firs! above « ~riflen.
SAND DOLLAR VILLAS DEVELOPMENT
Sig d, ed a d deliver preSPllfP of: CORPORA ON, A ~'la. Corp.
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E STATE OF FLORIDA,
COU1TY OF M~n?
I HEREBY CERTIFY that on this day. before me, an
officer duly authorized in the State aforesaQid and in tht County aforesaid to take acknowledgments, personally appeared
~~fl y SC7~C~0/'~ p~ / lP5/~Pit~ S.?r~(~//dr~/~dS ~t~~~P~p~i>>~i~J~' <O ~/-dh~
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to mr known to lx the person S dexribed in and who executed the foregoing instrument ana they acknowledged
hefom me that theyexecuted the same.
WITNESS my hand and official seal in the County and State last aforesaid this ~ / day of
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-~i ril A. D. l9 80
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T,~:'`. ~.,~~Q~RY SEAL) N ry ublic
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