HomeMy WebLinkAbout0987 due under this INb~tgage tn the ftnt calendar month following tkeesp eading of said sum. Sucb sumt so ex~xnded to bear interest at the nte
at which iate~est is payable upon satd principal indebtedness and the liea of this ~iortgage shall e:tend to and secure the suau so eipended
together with interest thereoa u herciabeEore provided.
19. At mortgagee's optioa, together witb and in addttion to the monthly payment oE priacipal aad interest payable under the ternu of tha
note secured hereby, Mortgagor shall pay to Modgagee each moath until said note is fully paid~ one•tweUth (1/ 12 ) of a sum equal to the
annusl premium due for fire, e:tedded coverege. and other hazard insurance iacludiog flood insurance, co~~ering the mortgaged property,
plus_taues aad assessmeats neat due on the mortgaged prope~ (all •s estimated by !~tortgagee) Iess all sums already paid the~efor, and to be
divided by t~e number o€ monti~ to eia~i prior i~ i~~ date w ep such taues and assessments s6all become delinqueat. Said sums shall bc
held by Mottgagee in trust or cndtted to the priacIpal of the loan, to pay said insurance. ta:es. and assessmeats and shall be epplied oa the
payment thereof whea due. Any raccas held in tnut by Mortgagee when said loan is patd in full shall bo paid to Mortgsgor~ or his auigiu
or personal representatlves. Ia the event of a default or forecloaure. aaid sums 6eld tn trust maY be applied on any costs of damages sustaine~
ia connection with the collection oE the note secured bareby whether by suit, forecloswe, or oinerwisr. biortgagee may from time to time at
its~option waive, aad aker any such vraiver, reinstate any or all provisions hereof requiring such depoaits, by notice to \lortgagor in writing.
While any such waiver is in effect, MoKgagor shall pay ta:ea~ aaseasmenv sod insurance promiums as henin elsew6ere provided.
20. Mort~ga~gor ~all oomply with the ~rovisioas of any lease. if this mortgage is oa a leasehold. IE this mortgage is on a coadominium unit,
mortgagor ahall perform all of mortgagors obUgatlons under the declaration of condoinidum or master deed, the by-laws and regulaaoas ot
the condoaninium project aad coastitnent documeats. Mortgagor further covenants that he aad the auociation responsibla for the operation
of the condomWum will observe all of the provtsions of the said declaration and any amandmeAts thereto, and of the Condominium law oE
the state. aad will perform all obligaHoas therounder; and a failure to do so w~ich is not cured within 30 days aftet aotice given by the Mort•
~agee to the mortgagor and the said association shall coastitute a default under chts moctgage. btortgagor f*ssih~r ~ecifically covenaats, but not
y way of limitation, that he and the auociation will observe all oE the provisions of said declaratian of con~ominium mlating to insurance
coverage.
21. I~tortgagor further covenantt and agrees that at the request of Mortgagee to furnish a standard termite bond insuring against damage
by infestation on the buildings nov~ or hereaher located on the mortga¢ed property, in such amouats aad terms, and with such companY es
approved and cequired by Mortgagee; and in the event Mortgagor does not compl; :~:!h ?_tiis n?~enant Mortgagee shall have the same rights
to obtain same as insurance coverage under covenant st3 hereoE.
22. That in the event that this mortgage is given to secure a coastruction loan, failure on the part of the ~tortgagor or th~ ~tortgagors
contractor, architect, enQincers. or sub-contracton to comply with the terms of the Construction Loan Agreement of e~•en date herewith,
w•hich is by reference inrnrporated herein, shall, at the option of the Mortgagee, constitute a default hereunder.
23. If the n~ortgaged premises is other than a one to four family dwelling, the Mort agor covenants and agrees that he will, not Iater
than thirty (30) days after the end of the fiscal year, f~imish unto the Association a comp~ete and accurate batTnce sheet and profit and loss
statement reflecting the Mortgagors liabilities a+ well as profit and loss for the fiscal year. and such balance sheet and profit and loss state-
ment shall be prepared by a certified pubUc accountant liceissed in tha State of Florida, and shall be certified as being correct by such certi-
fi«i public accountant.
24. If any of ihe sums of money herein referred to be not pivmptly and fully paid within thirty (30) days next after the same severally
become due and payable or if each and every the stipulations, agrcen~ents, conditions and covenaats of said promissory note and this mort-
gage, or either, are not ~uly performed, complied with and abided bY. the a~ ggregate sum mentioned in said promissory note shall become
due and payable forthwith or thenafter at the option of the Mortgagee, as fully and completely as if said agRregate sum of money was origi-
nally stipidated to be paid on su~h day, everything in satd promissory note or herein to the contrary notwithstandinQ.
25. In the event that the Mortgagor makes payment by check or checks that the Mortgagor has failed to properly endone, the
\tortqaRor dces hereby appoint the Mortgagee as its attomey-in-fact to supply on-behalf of the 4tortgaAor any and all endorsements necessarv
to neqotiate said check or checks and the Mortgagor agree~ to hold th> \tortgagee harmless from any liability whatsoever for supplying said
en<lorsement. In the event the Mortgagor shall cash a check for the Mo:tfiagor and same shall be returned for insufficient funds or any other
reason so that the Morigagee is unable to collect its money. thtn the ~iortgagor hereby authorizes the ~tort¢agee to add said sum to the
principal balance of this mortgage and said sum shall be secured by said promissory note and mortgage as thoagh it was an additional advance
ander the terms and conditions of this mortgage.
26. Special provisions:
I\ WITNESS WHEREOF, the said Mortgagor hu ezecuted tbis mortgage under seal on the day artd/year herein first above writtea.
Si;.ned, seal nd delivered tn the presence of:
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„Gc.~~l,K~ ~~CLtiY .i.'-/~-~!______~Ge=_ ~ _..,~/~f~-^ (SEAI.)
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II LAWREN A PENDER
C . -~G~!l --i~ !~~1~~.---- - ( SEAL)
PENDER
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• Y•NIF'da ~7 ij ~ t . . ,f.,,?~4 i}-~~_~ •r ~i
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State of FLORIDA
County of ST . LUCI E
The foregoing iatt:ument wu acknowle~ged before me thi~ 16th day of Februar}? , 19 8$
- by
LAWRFyNCE A. PENDER AND ANNE PENDER, his wife
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~ty Canmisd~ expires:
, ~ GG~~' CG~v~
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f~~ . N~ry STATE OF FLORIDA AT LARGE
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( \~ary? Seal ) ~
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~s~ '68 FEB 16 All :10
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State of ! ~DUG~~- .
co~„c~ oE S T. L U C .
The foregoing inscn~ment was aclmowledged before me t~?is day of . le .
by ~ °E
on behalf of the cotporatioa.
Ny Commission e:pires:
. _ _ , ~ ; - , Bo~K 575 PA~E 985
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(\otary Seal) ' - - - -