The URL can be used to link to this page

Home My WebLink About0992 MORTGAGE-FLORIDA--J~M WALTEt~ HOMES, INC. r~t- r'~-~~'~' ~~5~8 ~ T'H1S ~tURTGAGE, I~1ade this ~~1 day of --_C~~~~~~_ , ~ ~ ~/f ' 7 19 tue..n Ut:'~~~~U' ~Lid'dZ . - af ~j.~~l~'-l-~ County, Florida, he inafter called Alortgagor and 1IM WALTER NOMES, INC., a Floricla Curporation, with offices at I500 North Daie Mabry, Tampa, Florida, 33607 hereinafter cal:ed Moctgagee. WITNESSETH: That MoRgagor, in consideration of the mutual cuvenants and condiiions herein contained and other vxluable cunsideratiun ~ delirered by the Aiortgagee t~ the Mortgagor, the receipt and suffiriency where~f is here:by actcnowledgcd, aces n~~eny ar~e, bargain, se~l, assign, ~ v:u~sfer, comey an~+ confinn ur.to Mortgagee the preperty' situate in Couety. Florida, described as: J~ ~~l~, ~ ~~~~3 ~ /.S -~~.~d~ ~ uc , ~.~~~~~i3, _ ~ ~ ' ~ ~ ~ . . , ~ ; ~ 70. a- ,~:~,,.~~t 3~~~s F~.:;:~. ~ ; - . : , - • - ~r, . • . , . _ . 1'~;1. ~ :-n,i,;.,~ ~ r:e:;: ~;,c~~. _c,,. w., , Co.; ia. TOGETHER WITN all and singular the u a}'s, easements, riparian :uid other rights, and all tenements, hereditaments and appurtenances thereunto belc~nging or in an~~wise appertaining, and all houses, buildings, swctures and other improvements now on said land or that hereafter ma}• be erected or placed thereon, and added thereto, and all fixtures attached thereto and all rents, income, issues and profits accrUing and to accrue therefrom: TO HAVE AIhD TO HOLD the above described pro~rty, and said impro~•ements unta the Mortgagee, its successors and assigns, in fee ~imp:e. Ntortgagor hereoy covenants with Mortgagee that Mortgagor is lawfully seized of the fee simple title to the above described propert}~ ar:d has f~~il power and authority to grant, bazgain, sell and mortgage the same to the Moctgagee; that said prooerty is free and discharged from al! liens, encumbrances and claims of every kind, including taues and assessments exrept the lien o. taxes that may not yet be due and payable; that said ~lortgagor, his fi~eirs, legal representatives and successors, shall warrant and defend the title to said property unto the Mortgagee against the lawful ctaims and demands of all persons a~humscever, and will make such further assurances to perfect ~he fee simple title to sa;d propeny in the Mortga- ~ gee as may he reasonably required. ~ PROVIDED ALWAYS, and these presents are upon tlr,ese express con~itions, tha! if h1ortgagor sh,al~l,P,n~~mp~d,Y~ ay to Mortgagee one certain promissory note, of even date hrrew•ith, made by Mortgagor to ;~iortgagec in the amount of S r.~~!I.~t~.LLPL PaYabte in equal monthly instaUments of each, the first installment to become due and payable on the date set forth in the Completion Notice ("Commence- ' ment Date") to be mailed or delivered by lim Vl~alter Homes upon completion af its convact obligations set forth in a building contract of even date herewith between 3im Walter Numes, Inc. and the undersigned, and one insialiment to become due and payable on the same day of each succeeding month unpl paymenc in full (If not sooner paid, the entire outstan~ing indehtedness st.all be due and payable months from the Commence- • ment Date) and shall pay all other indebtedness or liability that ma}~ bet:ome due or owmg hereunder and shall faithfully and promptly comply with and perform each and every other covenant and provision contained herein on the part of Mortgagor to te complied with and performed, then this ' ; ~iortgage and the estate hereby create~ shali cease, determine and become nuil and voed. IJpon full payment, as above pmvided, Mortgagee shall, ! ' at htortgagor's request and ezpense, e:ecute a satisfaction of this Mortgage. ~ ~ !~lortgagor farther covenants and agrees with the Mortgagee as follows: ~ ~ To pay the indebtedness recited in and e~•id~nced by sai~ note and any extensions or renewals thereof, and all other in~btedness or liabiliry hereby secured, however created or ev~3enced; to pay all taxes, usessments, levies, liens and encumorances of every kind and nature on said prop- ~ erty and upon this mostgage and contract and the monies secured hereby promptly w•hen due and bzfore delinquency thereof; to pay all costs and eapenses incurred or paid by the Mortgagee in co~tecting the indebtedness hereby secured or in enforcing or protecting the rights and security of the ~iortgagee hereunder, including actual court costs and reasonable attorney's fees of 109E of the amount then due and payable if teferred to an attor- ~ ne}~, who is not a salaried employee of Mortgagee or its assigns; to keep all bmldings and swctures now or hereafter erected upon t}~e mortp,aged premises permanently insured against physical dam•rge or loss from fire, lightning and extended coverage to the extent of the lesser o~ the actual cash value of the house or the unpaid balance of the cash price. Mortgagor must maintain the required insurance coverage from the date of com- mencemenr of conswction until ,~lortgagor's obligations under the Contract ezecuted with reference to this Mortgage are fully discharged. The required policy or policies shall contain a clause making the proceeds payable to Mortgagee ro the extent of its interest in the proper:~. Mortgagee reserves the right to refuse Eo accept an ensuror offered by the Mortgagor if the policy is not in tha~orm of the ameunt acceptabte to ihe Mortgagee. It is further covenanted that the tilortgagee may at its opuon, but in no event shatl it be obligated to do so, advarr.e manies that should have been paid by Mortgagor hereunder in order to protect said property or the lien or securiry hereof, and Mortgagor agrees wiihout der.~and to forthwith repa}~ s~ch monies which shall be ~onsidered as so much additional indebtedness secured hereby; but no payment by the Mortgagee of any such ~ monies shall be deemed a waiv~r of the Mortgagee's right to declare any sums hereunder ~ue by reason of the default or violation of Mo:tgagor in ~ ar.y of his covenants hereunder. ~ The Mortgagor agrces that any sum or sums which may be loaned or advanced by Mortgagee to the ivIortgagor at any time within twe~ty (20) ~ years from the date of this hiortgage, shall be equaily secured with and have the same priority as the onginal indebted?~ess hereunder and shall t+e subject to all the terms and provisions of this mortgage; provided that the aggregate amount outstanding at any ~me shall not e~ceed one hundred ~ ~Fifty percent (150'~0) of the amount originaliy secured hereby. Nothing contained herein shall obligau Mortgagee to make any such loans or ' advances. The :~[ortgagor further covenants to keep said pmperty and the buildings now :ocated thereon or hereafter to be e~ctP.d thereon in gnod t' ' repair and to permit, commit ur suffer no waste, impairment or detenoration thereof, and to comply stricdy with all laws and governmental regula- " tions and ru~es affecting said prop~;rty or its operation. ~ [t is further covenanted and made the essence hereof that in case of default for thirty days in the payment of any sums of mon°,y to be paid here- ~ under by the Mortgagor or in the performance of any of the covenants herein on ~he par: of the Mortgagor to be perfomtied, then it shali be optiona! ~ with the Mortgagee to consider all unmatured indebtedness or leability secured hereby, including any additional sums her~eunder advanced and ~ secum.~ hereby and any interzst due thereon, as immediately due and payable, without demand and without notice or declar3tion of ssid option, and ~ the Mortgagee shall have the right forthwith to institute proceedings to enforce the collection of all rnonies secured hereby, including the right to fereclose the lien hereof. ~`~~~~N T~; ~ ~~C. THIS [NSTRU1tE:VT PR~PARED BY ~ J~~I WALTER HOMES, ~ - p. 0. BOX 22601 TA~IPA, FLORIDA 3362Z oF,iM w~.~ H~;~. : ,~w 2~o t~ a~~ 5i0 J~2 ~ - - . . . _y ~ ~<~:~~r ~ i ~ ~