HomeMy WebLinkAbout1244 1 Thar a nnler to DrMect rrx,re luny fire ilcurity of ihy mortyape tree MOngspur together with grid ,n ddcntiOri to lire montruy piymenis under the temp o! Ina
note sewrsd hereby nn the specified payment doff Of each rnunlh until th! Said note it rutty paid roil: Dar to the Assoc NtiOn file 1o110Wi^A sums
rat An mstaument o+ the ts•es and assessments levied o+ to ba lsvittd against the D•smisrs covered by this mortgage. and an rnstalirtNnl of tM Wemwm
or Wem.ums that will bKOme due and payable to renew the insurance on the prenases r-uvered Hereby against foss Dy tire. and windNpm. as povidad
for M Darag•aph 3 pec edinq a sucn other Aatard as mar roasOnady lye requ•red by In! AucK iahun arxf an installment of the premium that rout
trecome due and payab4 to renew Ina mortgage insurance rl any Such insialimenls shai! tx equal reSDecnwly t0 one twelllh I1: 121h1 of the as
nmated premium or premiyms for loch insurance and lames and assessments neat due taS eSn mated Dy the Astixlatronl less all ,Mtaumants aVtVdy
Iwid MwrefOr. drv,tled by tM number of months ttiat are to elapse Or•e mpnlh Dnur to the dots when such INemium or prar?eumf and caps and
assessments Wdt t1eCOfne dahnquenl the AalwciatWn, while applying such paymtiiH to mSUrdnCe premwms. taNS and asMStments. bdON the soma
becom! delinquent Shill n01 tHY interest to IM Mortgagor orr such funds aril alt such payments may be COmminglad Dy IM Association With any
other Such furdl W vyith rti own IundS Trre funds are ~li,dged as addinOnal Securely for char sums ucured by this MOngaga and era cabled t0 use Dy
tr,r Associatan in payment of 4te charges and bank coueeuon cnsrpea
ibi All payments mentioned :n Itie pgceding subsectpn of ants Darayraph end al, Davmrms to be made under the note secwe0 hereby shall be added
rGyriher aril [ht aggregate amount chaise} shall be pad by the Mortgagor each murdn ui a single DaymeM to tN applied by the Association to the
fouowinq Hems in trse order set froth 1 Tames assessments. and mwraM.e urem.urns 2 Case cha•ges and bank correction cMrges. unless paid :n
manner provdeA in paragraph 4 laf 3 Interest on free note secwed hereby 1 Amunif•anwi of me principal of Bard note
Any rlehrency in acre amount of such ayyregate monthly payrnentc shall unless paid by ihr Min+gaynr p.w,r t0 the duw date nl the ne¦t such payment con
Sbtute an event of default urvler the mortgage Without waiver o1 any tight the Acsrx+abun may couer.t a fate charge as {uovrdad m the Nole
§ That i} the iota! of the DDYtntntS made by the Mortpappr under lal o/ paragraph 4 preceding she!! o¦ceed tht amount OI Wyments actually mad! by the
Asstxiation fo. tames and assessments aril inwrancs premiums. as the case may be. such excess shaft be credaed by the Assoc,auan on suDSSgvlnt DaYments
to tx made Dy the Mortgagor If. however. the rrtpMhly payments made by the Mortgagor under ui of paragraph 4 preceding shall not haw Dean wffrcrent to
Day td¦e5 and assessments and insurance premwmi es the case may De when. the same shau becomr due and payable. then. the AISOCHPOn may aT its op-
tion m,mpdiately pay such tames and assessments aril insuranct premium and the Mortgagor shat! Day to free Association any amount necessary to make up
the dpnuency and such INyment shau t>e due and Datable within thuty 1301 days after the date u1 mailing o! nonce by the Assotranon setting ?Wth tht amcnrnt
c} such tlehuency 11 at any nine. the Mptpagpr Shall tender fo the ASSOCiation m accordan! a with ttie VroviSionS of the note secured fitreDy lull paymMt Of
the rnhiB indebtedness •6Dresrnted hereby. ctrl ASSOCrahon shall in COmputmg tr,e an:0unt OI such rndebtetlnESS Credit t0 the aCCWnt Of th! MOrtgdgOr any
t67!dnCe remdininy i.: the funds accumulated under the p*Oyisions o1 lit of Da*apravh 4
6 i0 permit urmnat or suffer tip waste. impairment or deterioration or said progeny or any part ttwreof and upon the failure o} the Mortpagd to keep the
Ituitdings on card property ,n pond cOndinOn W reDau and maintenance. the Association may demand proper maintenance and the immediate repair of said
M,i!dings or an increase in the anrount of security or the immediate repayment of tie debt ne•ehy secured and the taste-: of the Mortgage to comply roan
wiA demand of the Association for a psnod of thirty i30f days shau constitute a breach of this monyage. and. at the opnOn o/ the Association, immedutely
mature the entire amount O/ principal and •ntereSt hereby SsCUred and Ili! Associatign immediately and wanout notice may inSbtute PrOtetldinpS t0 fOredpst
- tMS mongaye a-d apply for the sDPOrntment o1 a receive+. as hereinafter provided and incase of the refusal neglect w inability of the Mortgagor to repair and
n.a,ntmn said prOtxrty the Association may. at its Option make such repairs or reuse the same t0 Ae madr dnd advance moneys m that behalf
7 T~ Iwr4xm comply With and abide by each and every the SnpulatWns. agreements cOndibOnS dnd COVtndnt5 in card DrOmiSSOry note and this mortgage set
fu•trr
B To cnmpry with inn subdivision restncbons and the mumapal ioninp ordinances aDDl:cab!e to ene mwtyayed property not to erect or Permit to be erected any
new txridings on the premises Harem mortgaged br to add to a permit to Dr added to make o+ permit to Ix made. any structural a!terat,ons to any of the e¦-
isti•W unprOrements thereon wghouT file Wnttsn Consent Of the Associat,On. and in rile tvrnt Of any vi0!abon Or attempt t0 wOlitE these SbpulatwnS a env of
them tins mortgage and all sums secured hereby shall immediately become due and Dsyable at the upnon of the Associatwn
g Treat in case of a default in any Of the terms of iMS mortgage and the hhng of a bill t0 foreclose the or any Other mortgage encumbering the within OesCnbed
w uDB•ty the Associdton snarl be entitled to aDDty. at any tame wanout nonce pending sucn lo•eUOSU•e sort to thr coon hating funsdiction thereof 1w the aD-
twurtment of a receiver of ab a'd singular lh! morlgigQd property and OI ail fire rents ~ncomrs. profits •Swes and re~tnues thereof. !nom whatsoever source
de•.rrd and MerouDO^ rt rs hereby e¦Dressfy covenanted and agreed that the coup shaft furtnwith appoint a receivr of said r*tortpsged property. all and
sirqu!a• and o1 sucn rents. incomes profits. issues aid revenues thereof from wha[SOever source derived with ene usual Powers and duties of rNeivers in tike
• JSCC and Surn dDlMinement Shari DC madr by such COWI of a malttr Of Strict nghi tU the Association dnd w4hOUt reference to the adtquacy or ,nadequacy o1
tie vahie of :tie proDeny Hereby mortgaged. or to the solvency or msOlvency of Me Mongagor dnd that wen rents proles. incomes issues and revenues shau
by dMi'~ed by such receiver t0 thQ DaymMt Of the mortgage indebirdnesS costs antl Cndrge! according 10 inn Order Of Such cOUrt
t 0 Treat ~n the !vent the premises hereby mortgaged or any pan thereof. shau De condemned aril taken untlrr the bower of eminent domain the Association shaft
ndYP the ngnt to demand that all damages awarded for the taking of o• injury to said premises sna'! tie Dad to the As50'~ianon its succesi0•s w assigns up to
the amount then unpaid o^ the mOrtpagt and may be applied t0 any sums tact payab~e hereunde•
t t Tndt t_nie .c of the essenc° o! this contract and that no waiver of any ob!ipation nereuntle• w of the nb:yanoi, secweo Hereby Shari it any time thereafter br
Held t0 tN d wd~ver of the terms hrreOf Or Of the promisSOry rote secured hereby
12 rti me everrt of env defau!: in any of trx terms of tMS mortgage or in the note secued he•ebv and acce~B•ah0•• by the holder or my Other vtuation that would
taus" the interest pd'd pr DdYable order LhK ODhgatron to Hcerd air interest rate duMOnled by law thin m Such event au e¦CESS interlf2 theretOfOre paid Snell
L±e crecfirBd to D'i^C•Dd! did a'' dCCrurtl and unpaid a¦ClSS interest shat! abate and Snd!' not be a^ Vbtiydhon of the makN o• o} any Other person
3 Thdt f0 the e¦tpnt Uf the indebtedness of the Mortgagor to the Associaton descritxd herein or Secured Hereby. the ASSOCratiOn rs Hereby sutxegattd to the bin
o• !lens and to me •ignts of the owner and holder thereof of each and every mortgage Hen qr other encumbrance on the land dsscntyed herein, which K paid and
cat:stied in whole or in part. out of the proceeds Of the loan descritxd rrerein W secured t+e•ebv aid the respective liens of card mortgages. 4ens Or other en-
cumbrances sridti I)r and the same and each of them nertby rS preserved and Shdi~ pd SS t0 dnd be held by the AssoclatrOn herein as securtry for the in~
debtednpss to the Association Herein described or Hereby secured. to the same extent that rt would nave Dern preserved and would have been passed to and
been he'd by the Association had rt Oten duty and repu!arly assigned transferred set over. and de' vered unto the Association lfy separate deed of assignment
^otwi;hstandinq rnr fact chat the same may De satisfied and canceued of record it be•ng the intention o! the parties he•eto that the Sir*ie will De sanshed end
ra^crned of •e.o•d Dy the Holders thereof at w about the time of the recording of this mortgage
j 14 'bar i! dny Of the Sums Of money n<rein reftrred 10 be not promptly and fully Daitl WrtMn tMnY i30i days ne¦t after the same severa!fy become dui and payable.
y u• if earn and every the snpu!anors agreements. CondinOnS and Covenants of Said D'Omissory note and CMS mo+tgdge. Or either. are not duly performed. com-
p!ipA with and abided by the aggregate sum unpaid under said promissory Holt and th~s rr.oriyage sna? become due and payable tOrthwrth pr thereafee• at the
E epnun o! the Association as furlyr aril comp!etely.as d said aggregate sum of money we•e o•iginaav stipu!aied t0 be Daid on Sucn day. anything :n sa•d
proTissc+•v rote rr nerp,n to the contra•v notwithstanding
~ t5 'Hari,, h. ! r.
order to acr:ele*ate the maturity of the indebtedness naeby secured _ _cause of the ai ore o. tie Mo•tyagor to pay any fax assessment. baDdav, oblige
lion rti en::umbran~e upon said OrOperty aS herein prOVided. rt Sha!! not tit ne'•eSSdry nor reOU~Site thdt the ASSOCiation Shalt first pay tht Same
.6 T^dt ChB dhSTrdCi Or abstracts Of titer COVenrg ihr mOngagetl properly Sha'; aT a!! iir^rS during the rife Of this mOngdge. remain in the pOSSESSiOn Of tot
Asw-ianna and..n event of the foreuosure of this mo.tgape Or other transfer or am to the mo•tgagetl property m !¦nngwsnment Of the indebtedness secured
t nerPnv au ••qht tine and i^terest o' the Mortgagor in artd to env sucn abstracts or lair shai' pass !o the DwChaser or grantee
[ t 7 Should ene va idav or lien or this mortgage o• the note secured the•eby be contested by -^ydno• uthe•w sp ;tie M.o•±gago• agrees to Day to the Associatiron
•np -nsr Ot dr!end:nq ine Sarne mduding a reaSOnab'e attorneys fee
1 B Tn nay all and ynquldr the COSTS Chdrgr5 dnd e¦pen5e5 indud'ny dtinrney-S fpeq •patinnably ni.u^ea n• paid dr any trine by the ASSOCianOn, t)ecaUSe Of the
rdi'ure of the MnrTgayOr t0 porirrm. ~Ompl'i wan and abide nY each 3rid evp•y the Stipule tons ayr?ertients COndaipns and ~OVrnants Of Said prOmiSSOry note
and TM5 mortgaye O• either and every wen (except for the payment of the monrh:y shat, ?n:ent as renui•pd by thB Promi55ory NOtel Shan bier interest from
chip d7 Tna rata Of saghleen tier Geri rl$':,) pBr annum until fully Ddrd
~ Tg ~ p ASSrN:'dt•On shills nave lht right at any nine and from time t0 t'mr arA YlithOUT nOACe r0 Or t: OnSeni Or any person 10 'al rr%QaSe any pennon Of the Dremisrs
rrom me Hen of fns mortgage. ibi release any person noble for payment of env indebtedness severed Hereby !u emceed me Dine of payment or alter the terms
Of payment tit all pr any Pan Of eh! irMebiednrSS. wrthOUt affecting Or releasing :he persona' tiaDilitY Of any prison liaD:e iOthlr than any prison rr!laSr_d pur~
scant neretoi for me payment of any sum Or interest SeCUred 'Hereby and wrehout in any wise a~termg varying o• dimimsning the forces. effects. or ben ofthis
mo+tgatle on at! the premises not speufra!ly released fipm the teen d this mortgage by the Assouabon
20 env aq•Bpmern nereaftu made by Mortgagor and Association pursuant to this mortgage sna ! De suDBr:nr :o the •:gMS of the holder of any •ntervemny Ern or
pnc.~mbranrB
2 t 1Jtion rpgvest of MnrtgagO• the A}souauon may at its Sole option. from time to f.me Aefore fu'' payment of a~~ indebtedness secured hereby make further ad
yentas to MO*tgdy0• provided nrmever. that the tote! pnncipa-! secured Hereby dnd rrma~.n,nq unpaid •nc!ud~ng any Such advdnClS. shat! not at any ante t¦-
r_ppdthe original n•incipai sum secwed Hereby Mortgagor she!! pay a!' sucn fi,rtner advances with interest and the same shau be secured hereby All provisions
Of tn•s mo•tgdgp shd!l apply t0 each further advance as wet! as to alt Otht• indebtedness Set cared hereby Nothing herein contained. however. shai! limit the
a'^nunt spc,nM tr! th•s mortgage d such amount is intreaSed by advances made by the Association as harem eaewhere provided for to protect the security
22 In the pv?tit trip Mortgagor ha•prn Or any subsequent Monyaac.r nr any (1prNm nr r-nilx)raho•: nwnini,f any interost whatsoever, should encumber the progeny
`r np•e~n mn•tyayed by an instrument coin mOniy referred to and known as a wrap-aramd mnrtgagp wanout first nbtainmq tfw wnttrn consent Of tht As~ncia
tin^ rnpn at trip nphnn of me Association the ob:iganon cecured by this Morrgayp she'! mmpdiately bprnme due an:1 payable
E
23 To Dmv•de the Association wan Rood Insuranre Coverage .f the real propprry ,c now or he•paftpr dBrermined to eie within a Spacer ifooA hazard area as shown
ry+ F!rr>rt Har•ard Boundary Map,Rood Insurance Rare Map as publisnBd by rnp Federa' Insurancr Adm~nisnatinn
24 At trio request of [he Morlgagw. the Associaton agrees to waive the provisions of paragraph 4 relative .o the creation of a hazard inwrance account. prowded
r hOwrver that the ASSO!'iaUOn retains the right. at its Option. t0 re-instate Such proviSr005 Of Said paragraph 1 as an Obligation of the Mortgagor hereunder upon
rnp hdDps.nmq o1 a.;Y Of the following
A failu•e t0 make any DaYrnent requved under the farms O} the note on Or before the dui daft thereof
t: B Fdi:urr t0 comply with the inSUrance prOViS,Otts Of paragraph 3. Or O! any Of the Othrr terms aril cOnddiOrt3 0l CMS mortgage w note. Or with the mSUrance
s requirements contained rti the Dedaranon of Gondomimum and related documents should rite morl~g~ property be committed to condominium
~)ygnil deve!Opment _
STATE OF FLORIDA ) • _ - •
COUNTY OF ST . LUC I E ) 8l 1K c~.~U Y4CE 1242 • • • ` r' •
r
~c?.wt-n The foregoing instrument was acknowl ~tirbefor~, this ~ day. of
T/P-A August , 1980 by C . SHELTON JAMES .
tiGTA6'! FU?tit. ;f47. !t ~'!i;l! ~7 C', : E r t ,
w MCGA47 YGfiD:O 7::,,~•G>:!f:RAL17,., i,:,:..fiw'n!Tt.:S
:y Commission Expires: Notary 0