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HomeMy WebLinkAbout1300 C-703A cr _ ~ 62~31~-3 ~ ~ THIS MORTGAGE INDENTURE 4 ~ ' ~ ~t E.ecuted this 10 day of April , A.D., 19 80, by 4936 WILLIAM A. DILLON and KATHERINE Be DILLON, husband and wife party of the fast part Iheie' CHASE FEDERAL SAVINGS AND LOAN ASSOCIATION g~r a corporation exisbng under the laws of the Untied States of America, party of the second pant Ihsranafter called tM Associationl, WITNESSETH, That to divers good and valuable considaauons, and to secure tfse payment of the aggregate win of morsty named in the promissory not! of even date herewith, hereinafter mentioned, together with inlerest thereon and all othp wms of money :sewed hereby of heranatta piovrded, the Ma tgagor does grant, baigarn, sell, alien, remise, release. convey and conlum unto the Associat~onetm tee sunpkv,~the following described real estate, 01 whKh the Matgaga is now sated and possessed and rn actual possession, srwate m the County of ST e L W IE State of Florida, iegslly descntxd as follows: ~ , ~ SES LEGAL DESCRIPTION ATTACHED. ' . - • ~:.y` i , ^ i „ _ _ _ . 7 TOGETHER with all structures and improvements now and lsercatter ors said land anct the fixtures attached thereto, also together vwth all and singular the tenements, nereditaments, easements, riparian rrgltts and appurtenances thereunto belorsging, or in any vwse appertainirsg, and the rents, issues, and profits thereol, and also all the estate, _ 1 igM, tide, mterest and all clams and demands whatsoever, as well m few as in equity, of said Mortgagor in and to the sense, and every Part and parcel thereof, and also all gas and electric h.[ores, radiators, heaters, mi condaionirsg equipment, machinery, boilers, ranges, elevators and motors, bathtubs, sinks, warn closets, water basins, pipes, faucets, and other Dtumbing arsd heating Irxrures, mantels, relrigerabrtg plans and see bones, window screens, screen doors, venetian blinds, storm shutters and awnings, vvh,ch are now or may hereafter pertain to or be used with, rn a on said premises, even though they be detached or detachable, are and shall be deemedto be lrxtures and accessions to the freehold and a part of the realty, and, d the above described property is now or shall hereafter be used lor commercial purposes, fliers the Iwmwre and lurmshrngs and any replacements thereof which may be owned by the Mortgagor and vvhiM are now or may hereafter be located upon the above described property. i TO HAVE AND TO HOLD the same, together with at1 the estate. right, btk, mterest, homestead, down and night of dower, separate estate, possession, claim and demand whatsoever, m law or rn eyurty, of the said Mo: tgagor rn and to the same, and every part thereol, unto the said Associauon in lee simple. The Mortgayor hereby covenants :etch the Assocrabon that the Ma tgagor is indefeasibly seised with the absolute and tee simple tick to said property, and has tu0 power, and lawful aUthorny to sell, convey, uansler arxt mortgage the same: that it shall be lawful at any time hereafter fa the Assaciabon to peaceably and gwedy Mtn upon, nave, hold and enjoy seed property, and every part thereof, that card property rs lies and discharged from all liens, encumbrances, and claims of any kind, including taxes and assessments, except the Iron hereof, which is a last hM on said property, that the Mortgagor oral make such further aswrances to perfect the tee simple tale to said property in the Assocwaon as may reasonably be re4uoixf: and that the Mortgagor dues hereby luily warrant unto tfte Associauon the title to said property and will delend same auainsi the mortgage clams and demands o1 all persons whomsoever. - ` NOW. THEREFORE, the condition of this mortgage is such that d the Mortgagor shall well and truly pay unto the Associatan, the indebtedness evufenced by that certain promissory note, of even date herewith; made by the Mo+tgagor and payable to the Astocratan, m the pnncrpal win FIFTY SIR THOUSAND and NO/100-----------------------O-----------------OOILARS is 56, 000.00 1, together with interest as therein stated, payable over a term of 3'48 months, and shall ne: form, comply with and abide by each anti every the stipulations, agreemems, condraons and covenants comarned and set forth m this mortgage and m the promssory note s2CUred hereby, thM this mortgage end rise estate hereby created shall cease and be null and void. TRANSFER OF THE PROPERTY; ASSUMPTION s If all or env part of the Property or an interest therein is sold or transferred by Mortgagor without Association's prior written consent, excluding lathe 4 creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation Ot a purchase money security interest for household appliances, (c) a transfer fey devise, descent or by operation of law urson the death o1 a joint tenant or (d) the grant of any leasehold interest of three years or less not containing an option to purchase, Association may, at Assxiation's option, declare all the sums secured by this Mortgage to be immediately due and payable. Association 8 shall have waived such option to accelerate it, prior to the sale or transfer, Association and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Association and that the interest payable on the sums secured by this Mortgage shall be at such rate as Association shall request. It Association has waived the option to accelerate provided in this paragraph and if Mortgagor s successor in interest has executed a written assumption agreement accepted in writing by Association, Association shall release Mortgagor from all obligations under this Mortgage and the Note. ~ if Association exercises such option to accelerate, Association shall mail Mortgagor notice of acceleration. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within which Mortgagor may pay the sums declared due. If Mortgagor fails to pay such sums prior to the expire i t~nn of such period, Association may, without furthe? notice or demand on Mortgagor, invoke any remedies permitted by paragraph 15 hereof. ~ AND the Mortgagor does hereby covenant and spree { 1 To pay all and singular the prrntipal and mterest and other wms of money payable by virtue of card promissory note and ttis mortgage. or other. promptly ore ~ the days respectively the same severally become due # 2 To pay all and singular the taxes. assessments. other povsrnmental levies. liabilities. of>tigations and encumbrances of every nature on said described property t and the related debt acgwSiuOn each and every when due and paysbb according to law. before they become delinquent and. d the same shall not be promptly paid. the Assoc,ation may at arty bins. ether before or ahsr dehrsquency. pay the same without waving or affecUrtp the option to forecbse. a any right hereunder. and every payment so made shall bear inters;t from the date thsreol at the rate of eighteen per cent 1113%1 per annum ~I 3 That the Mortgagor will keep all real and personal property now or hereaha encumbered by the hen of tMs mortgage iriwred as may be requued from ume to ' trine by the Association against bss by firs. windstorm arW other haisrds. cawalties and contingencies lor. wch periods and /or not less than such amounts as ~ may be required by the Assocratron and to pay promptly when due all premwms for such rnwrance Mortgagor agrees to deliver renewal or replacement pcl:cees of any nature or replacement certificates of insurance to the Association. at least ten (101 flays prior to the axpiratiors a aruuversary date of the existing ~ poLCres The amounts of insurance required by the ASSOCaUOn shall be minimum enaunts lor which said inwrence shall be written and rt shall be incumbent upon the Mortgagor to maintain such adddansl mwrsnce as may be necessary to meet and comply fully with all co-inwrance requirements contained in said policies to the end that said Mortgagor is not a co-mwror thereunder. Inwrsnce shall lee written by a company o. tomparnes apprortsd or desiprsatsd by the Association and all policies and renewals thereof shall be hold by the Association All detailed designer[ions by the Mortgagor which are accepted by the Association and all agreements between Mortgagor and Association relatirig to inwrarsce. now existirtg or hereaher made. shall be m writir?g and shill be a part of this mortgage agreement as fully as though sat forth verbatim herein and shall govern both parties hereto and their successors and assiprts No lien upon any i of said polices of inwrance or upon any refund or return premwm which rosy be payable on the cancellation or termination tlserepf. shall bs green to other than f the Association. except by proper endorsement affixed to such policy and approved by the Associitan Each policy of irwrance shall have affixed thereto a Standard New York Mortgagee Clause without Contnbutan. rtsalung all bss or losses under wch pt>ticy payable to the Assotiatiixt as its mterest may appear r Ir, the event any win or sums of money become payable tlsereunder. the Association shall have tfss option to rscave and apply the same on account of the m• 3 ~ debtedrsess Hereby secured. or to permit the Mortgagor to reteiw and use it. or arty part tlsereol. vntlrout thereby waivirsg or impauinp any equity. hen a right under and by virtue of this mortgage In event of loss or physical damage to the rriortpaped property. the Mortgagor shall pne immediate ratite tfrareol by mad z to the Associatan and the Association may make proof of bss d the same is rat made promptly by the Mortgage In event of foreclowrs of this mortgage. or other transfer of tick to the rtsortpaped property. in sxtinpuishrnent of the indebtedness secured hereby. all right. titb and interest of tM Mortgagor m aria to I any rnwrariCe porkies then in force shall pass to cite purchaser a grantee. The Mortgagor further sprees to abide by the rules and existing rsgulatans of the Assocrauon. in connectan with required mwrarsce covsraps of tits property Mrem encumbered t Piragrsph 4 and those which tabor are contained txs the reverN side of this mortgage and by refererst:e errs atcorporated into tM body of this mortgage. The terms Mortgagor and Association, whenever used in this instrument, shalt include the hairs, personal represtnp[rvef, wrxessors or assigns of the respective parties hereto. Wherever used, the sirtgu mbar shall include the plural and the Dlural the si the use Ot any gender shall Intl all gender i I IN WITNESS WHEREOF, sse ems a aM executed on the day and year first written. Signed, led a m ~ - ~ ISEALI _ LLON Q. - ~ ISEAl1 e x , ~ ISEALI ~ t f i ISEALI { ( STATE OF FLORIDA COUNTYOF_ ORTIN Aril 80 ~;~1 ~ ~ (r Tty~ortlpa,,a~i~ t was acknowledged before me this day of p , 19- by ' t st ~IL~,IA1~ ~>y~f . ILLON and KATHERINE E. DILLON, husband d i ~ ~r iii - f~~~ ~ Notary PI~C, State of F~oridat IENDER 3 ~.;3 ~ i `larlmiuion~ftpvaY MY [nmm:.tioa Eltp;rT~~1-- • ~ _ to~dW r1 An~ru. iiti a C.rwlry Gopiay =F ' ~ ride ~ ~ Notary ?ublie, State of att. = tl~ SCA!(c~ PtCE'~~ - - _ :.r.