HomeMy WebLinkAbout0047~I~x• wKlrr thi~ Murt~;abw in thc fint cale,Kla~ ~uouth folluw;u~ tho e:pei~i~-g oI said s~un. Suc:h suutis so e:ptudrd to bear inten~st at the rate
.i! ~vl-ich inten~st is puyablr upa~ said prinripal indebteclaess aud tbe lirn of /his MurtYa~• shall extrn~l to arNl xrum the suu~s w~•a{x•uJ~~l
t~~Ked~rr with intrnyt thra~w~ as heminbetom providod. '
l~. ?1t uwrt~ager's optiun, tu ~cther with ancl in additicx~ to tha uwnthlypa yuKUt oE principal and inten~stp~ yable w~cr the temu of d~e
~~ote s~xund bercby, I~tatgagor ~pa y to I1lwtgague each aanth unlil said not@ is fuUy paid, ooe-twcltth (1/12) of a sum cY+ual to thr
:u~uual prrmiwn due for fire. extr~kd covernge, arxl olhe~ hauinl inturence iacluJing flood 'uuurunc~e, co~°ering the nw~ty~ay~~vl pruperty,
plus t:-x~y a~wl as.essnK•nts next duc on the mortgugeci prope~y (ap as eaiimnted by MonKag~~e) Icss nll smns already paid thrretor, and ta be
clivid~~cl by the number of months to elapa@ prior to lhe dute whe~ such tu~ and asu~ssn~euts shall becume dclinyucnt. Said sums shall I~e
hcld by ~torigAgec in trust o~ credittYl to ihc pri~u:ipal of tt~e loan, to paY said iasnranr.e. ta=rs, ancl asx•ssnwnta and shall 1-e applicYl on thc
~~yinrnt the~t wUrn due. Any excrss hekl in tn~t by ~tonuagee w6en saic! la-a is paid In Eul) shaU be paid to Alortgagor. o~ his auigns
~,r ~•ru-nal ~resenlatives. In the e~~cnt of a de[uult or (oreclosure~ said sums hekl in tnut may be appU~d on any casts of daina~;es sust:unec~
~u cauKti•tion ~vith d~e collection of the note secured hereby whethe~ by suit, foreclwum, o~ otherwiu•. I~iortga~;er nwy from tinx~ to time at
~t. ol~tion ~~aive, und a(Mr uny such waive~, nin.tate auy ur al) provisior~s henwf royuiring such Jepoaits, by notice to ~to~tgagor in writing.
\\'hik any such waiver Is in elfect, !liodgabor shall pay tazrs, ass~.~scuwals utKl insur~noe premiums ~s hereia elsewhera provided.
20. Mort~ga~~or slwll comp]y wit6 the ~-rovisions of any lease, if t6is mortgage is ~ a IeasehoW. l[ this uwrtKage is on a co~lominium uait,
,nortgagor shaU pedorw all o~ mortgagors obUgatioru ucKle~ the declaratioa of condomL~ium or maste~ deed. the by-lawa aad r~gulations d
the coaclominium project and cuastitueat doe~unents. Mortgagor Eurtbec covenants that he aad the assacfation responsible for the operatiao
~~f thc condominium will observe all of lhe protitions of the aaid declaration atNl any mnc~xlments thereto, ar-d of the Gaxlominium law ot
tl~~• ~tute, arxl will per[orm 111 obli~ations thereunder, and a failure to do so w~3ch is not cured within 30 days afte~ ootice fci~ren by th~ ~fort-
¢ay;ce to the mortRagor aml the said association shall constitute a default wKler this mortgaRe. btortgagor further speci(ically covenants, but not
1~>• way of limitation, that he and the :-ssociatian will otuen~e all of the prorisirnu of said declaratiun of condominium relatinR to incurance
~ ~~vcr.tge.
31. \tortKakur [urthr~ covrnauts a~Kl agretih ll~at at the n~e~ui~st of I~tortgagee to fumish a star~Jarcl termite ho~xl insurin~ aRainst dan-iage
I,v infi~stalion on Q~~ ~~uildinks ttow or hrrcafter IocaleYl on the mort~;aRecl pmperty, in such amounts and temu, atxl with such company as
,~ppro~rcl and r~uired by Mo~tRa~;ce; and i~ the evr~t \1ortAagor dces not romply with this ro~~enant 11lortgagee shall ha~~c the same rights
t~~ oLtain s:-mc as in.curancr co~rr.if;c undrr coccnant ~3 hemof.
2.°. That in the e~•ent that this mortgage is gi~~en to urure a constn~ction loan, faikire on tl~e part of the \lorigaKor or the \fortgagor's
~~untnctor, architrM, engineers. or s~d~-rnntractors to cotnply with the tenns of die Constn~Mion Loan Akreement of e~rn date herewith,
~~•hirh ic by n~(emncr inco~wrated Ftrrcio, shall, at the option of the 1liorigagee, constitute a defau3t hereuncier.
3:;. lf tlK un~rtKatCfd prewisrs is other t6au :- on~• tu four family darllink, tl-e Mort agor co~~enants a~xi akrrcK d~at I~e ~viU, not later
th:m thirty (30) days uQ~•r thr end of th~ fiua! y~•ar, fumish unt~- thc Association a comp~ete and acrurste halanm sheet anci profit and loss
.tatcux•nt mFlectinR the ?~4ortgaRors liabiliti~~c .u well as profit and bss for the fiscal year, and such balance sheet and profit ancl loss state-
inent ahall l~e preparetl by a crrtifiecl public acxr~unt.-nt licensecl in the State of Florida, and s6all he certified as being corteei by snch certi-
(i~~cl public accountant.
?4. If any of the sw~u oF n~ancp 6erein mferrcYl to )x not proinptly a~xl foDy paid within thirty (30) days ne:t after the same se~~crally
I,~~c-uux~ d~~e arnl payablP, or if eac6 anel e~•ery d~e stipulations, agreements, conditiass and covenantc oE said promissory note and this mort-
~~a~;r, or either, are not duly prrfornx~l, canplir~cl wiU~ arnl abided by, the a~~re~ate sum mentioned in said prwnissory note shall beeo~ne
~lu~• ancl payable torthwith or thereaftrr at the option of the Mortgagee, as fully stnd completely as if said a{~,gregate sum of money was origi-
n.Jl~• stipulatirl to Im paid on such day, r~•erythinR in said promissory note or herein to the contrary notvn'thstandin~.
23. In the e~•ent that the l~lortga}~or makes payment by check or checks that the ~tortga~or has fa:led to properly enciorse, the
\1~~rt~aQor does hereby• appoint the 111ortqaRee as its attorney-in-faet to supply on behalE of the AtortqaAor any anci all endorsements necescary
tu ne~otiatc saicl ch~rk or rhecks a~xl the ~lorty;a~or agrers to hoW the 1-1ortKagee harmlest from any liability whatsoever fur supplyin~ said
~•n.:on~~nx•nt. In th~ c~•ent the \lortga~;ur chall c:~.ch a check for the I-~ort~aRor and same sh:Jl be retumed for intuf(icient funds or any other
r~•ason so lhat the \toctgaRee is unable to collect its money, then the 111ortgaRor herrby authorizes the ~~ortCayCee to add said sum to the
principal balancr of this mortp,age and said sum s}~all he secared by said promissory note and mortgaRe az thw~~h it was :u~ additional advance
~~ndrr the ternu and conJitions af this mortgaAe.
3Fi. Special pro~•isionc:
1\ \~'IT\ESS \VNEREOF, ihe said NortRagor has execated this iuortKa};~ uncle•r sral on the day and/ycar hemin first abo~•c w~ritten.
tii~_u~•d, scak~l and deli~~ered in the presen~
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St.ite of FLORIDA
C~~iinty o( MARTIN
_^ ~/4~ . .. - - (SE~L)
Dan el A. McCarthy
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Dorothy F McCarthy
~ Tl~e foregoinR instn~ment was acknowledged before me this l~th ~ay °F March ' la 81 '
-~~~ DANIEL A. MCCARTHY AND DOROTHY F. MCCARTHY, his ~rife
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~ty Commissan eticpires: ~ ,S
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raary Public State of Florida at Lar e
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s
~ .•
~ r~ry Seall ,..
~ ~-r ~- 1981 MAR -6 Ak II~ 3Y
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Sta aE.
FILC@ I-N~ p~CORDEO
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~=~-~~ ~ ST_LUC E COWITY.FLA.
ROG~R POITRAS
~ Th foregofng instrument was acknowledged before me this day of CLERK CtRCU1T COU ~ ~ 19 .
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hy
and i<~ C~ "~~ i'i NiF'FR----~ of
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~ ~~n {xhalf of the corporation. 51935~
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~ \(} Corumission ezpires:
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Notary Public -
350 F~~ 4?
R g~~
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~ ( \otary Seal }
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