HomeMy WebLinkAbout1832du~ u~Klcr this Murt~Ye in etw fi~st cule„~l:u awnth followu,g t!-ee~ endln~ of ukl sum. Such suau w expenciuJ to beu iatercst at the rate
at which j~tercst is pryabb upw- saki priacipal indebtedaess wd ths lica oF this Mott~{ago s}~aU exteod to ancl secure U~e swiu so eapr~xlel
tugcthrr with interest tl~reoa ss hercinbetore provided. .
1~. At nartgagee s optfoa. toget~h~er with aAd in additioa to the a-onthlyp~yu-ent of ` riacipal and iatenxtpa yable under the tern~s of the
~wte arcured hereby, Mortgagor stwUpay to Matgagee each month unW saul oote is f~y p~aid. oae-twelfth (1/18) of a s-unoq ual to the
.iunual pren-ium due for fire. estetxled covereSe. and other hazard iasurance iadudiag llood insurancc. covering the mortBA~ec1 P~opertY.
plus tazes aod asscssments ne:t due oa tho mortgaged Properq~ ( al! ~s estimated by Mortgagee ) less aU swns alrcady pnid themfor, ancl to bo
clivided by the aumber of ma~ths to elapse prio~ to the date when such t~es snd aasessmeats shaU bccome delinquent. Said su~m shap be
hekl by Afortga~ee in enut or crediced co tho principal of the loan. co pay saW tasurarwe. ta:es, and a~u~sments ancl shaU be appL"ed on ctie
i~rineat thereof whrn due. Aay e:ce~ held in tnut by Mortgagee wheo sakl loan is paid in tuU shall be paid to Mortgagor. or, Ws aasigas.
o~ personal repres~ntatives, ln ehe event of a defaalt or forecloauro, sakf swns hekl ia t~ut may be applied a~ aay costs of damagea s~utained
in connection with lhe colketion of the note secured hereby whether by suit, forecloaure, or otherwise. Atortg,agee may from ti~~e to time at
its~option waive, and afte~ any such wui~•er. reinttate any or all provislont heteaE r~quiring su~.~h deposits, by notico to Matgagor in writing.
While any such walver is in effoct, Mort~~ s6aU pay ta~ces. assessmants aad Lnuranoa premiums as harein elsewhera provided.
20. Mortgag~r shall canp~r wlth the ~mviaions of any lease. if tLis nw~tg~ga is ou a lea~hold. If thia mortgage is au a condominium unit,
~nortgagor shaII perform dl oi mortgpgors obligatioas uader tLe dedanKon of oondomininm or ~ deed, tLe by-lawa aad regulations d
the condomintum pmjact and ooastit~nt doc~ts. Mortgago~ farther oov~eosnts th~t he sod the association respoodbb for the operation
of the condominium will obaerve all of the pmvisioos of the said dech+ra a'q ancl aay ameadments t6ereto, and of the Condominiwn law of
tIK ~tate, and witl pedorm all obligations thereunder; and a failure to do so~ which is not cu~ed within 30 day's afte~ notice givea by tho Mort-
y;agee to the mortgagor aad the said association shall consHtuta a defaWt under thLs matgago Mortgag~ fu~thcr specifically covenants. but nol
hy way of limitation. that he :-nd the association wip oluerve aII of the provisions of said dularatioa of conclominium relating to insura~we
~yn erage.
2l. 111urtgaRor (urther co~•enants a~xl agnes that at lhe request of Atortgagee to fumish a standard termite boncl iiuuring against damage
by infestation on the buiklings now or hereafter located a~ the mortRa Scd P~peirtY, in s~ch amounts and tenns. and with such company as
:-ppro~~ed aad required by 1liortga~ee; and in the event 11lortgagor dces not oomply witb this covenant Mortgagee shaU have the same rights
to obt~in saine as incurance rnverafie under covenant ~t3 hereof.
2?.. Tl~at in the event that thu mortgage is given to secure a constn~ction loen, failure on the part of the Mortgagor or the Iliortgagor's
~~~trac~tor, nrchitect, eagineers, or sub-contractors to comply with the termt of the Construction I.oan A~reement of e~~en date herewith.
H~hirh is by reference incorporated herein, shall, at the option of the Mortgagee. constitute a default hereuncler.
23. If thc nwrtgagecl premises is other than a one to four family dwellir-g, the Mortgagor coveaants arxl agrees that he will, not later
than thirty (30) days after the end of the fiscal year, 6~mish unto the AssociaHon a complete and arcurate balance sheet and profit ancl loas
.tate~nent reflecting the Mortgagor's Uabilities as well as profit aad bss for the fi~stl year, aad such balance shect and pr~it and loss state-
mrnt shaU be preparecl by a certified public accountant licensetl in the State of Florida, and shall be certified as being correct by such certi-
fied public accountant.
24. lf any of the sunu of ma~ey herein referred to be not pranptly and fully paid within thirty (30) days next after the same sevverally
I~ecome due and payabk, or if each and every ihe stip ulations, agreements, conditia~u and rnvenants of said pranissory note and this mort-
Kake, or either, arc not duly pedomied, canpleed wiW and abidod by. the a ate sum mentioned in said promiswry note shall become
due and payaLle [orthwith or thereafter at the option of the Moctgagee. at ful~ completely as if said a~~regate sum of money was orlgi-
nall}• stip~J.~ted to be paid on such day, e~~erythinR in said pranissory note or herein to the cuntrary notw~'thttandin~.
2a. In the e~~ent that the 11lortgagor makes payment by check or checks that the biortgagor has failed to pmperly endorse, the
\(ortQaKor does hcreby appoint the MortgaRee az its attomey-in-fact to supply m behalf af the Mortgagor any and aU endorsements necessary
to ne~;otiate saiel chcrk or checks and the Atortgagor agrees to hold the Mortgagee harmless fran any lisbility whatsoever for supplying said
enclorsement. In the c~-ent the Mortgagor shal) cash a check for the Mortgagor aad same shall be returt~ed for ina~fficient ftmds or any other
rrason so that the I~tortqagce is unable to collect its nwney, thea the Mortgagor 6ereby aut}wrizes the MortRagee to add said sum to the
principal balance ~ this mortgage and said sum shal) be secured by said pmmissory note and mortgaRe as tha~Rh it was an additional advance
u~xler the temu and conditions of tfiis mortgage.
26. Special prmisions:
1\ ~VI"C1~ESS WHEREOF, the said Mortgagor has executed thic nwrtga}~e• undcr seal on the day and/year herein first alw~•e written.
Si~; , sealeci~ and delicered in the presencr of:
.
~ v •
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State of gl,p~~
Connty of ygRTIN ~
The fo~._inctnmaent was acknov-~kdged before me tltis
h3' y,qg~,~'g. CQl,II11 and ELLEN S. COLIN. his
._ ~
\(y.~~ ~: I ~I~ .S
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~ ~ecary Seal ) . ' _
State o[
Ca~nty of
The foregoing instn~ment was acknowledged before me this
by
on beLalf of the corporation.
r L~ _ .
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M H. Colin •
~.'-- ------ -------- --- - --- - -- ISEAL)
EIIen S. Co1in
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I1th day of February . 19 81
wife .
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- - .- -D~~.t ~/~,~~av
Kotary Public , State of Florida at Large
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1981 FEQ ~ 3 P~ 12~ I 0
FILCC sNC °EtGk::l i1
day of Si_~l.'CIE CGUN7Y.Fl.~.
RCGCR POfiRl.S
a~ CLERK CfRtUlt LC~ ~
. .. r~ ~
~ 51s94'7
\Iy Commission e=pires:
(\olary Scal)
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,~._. . ~._ :,. ~ ~> ~- .: _
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Naary Public
. 19 ,
of
an'~~c~S p~~l~j~ .
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