HomeMy WebLinkAbout2045 aua unae< <nu Mo?~ga~e m we tust cuenau moam toettowtn~ t~eesp end"ug of uid sum. 5uch stuns w espeaded to beu interest at~ rate
at which interat is payabk upoa uid grincipal todebtedaeu ~nd tbe lien of this Mort~a~e ihall eait~end to and secure the sums so nded
together with interat tbereoe as hereinbefoce provided.
18. At mortgagee
s opti~, toq~~ r witb and ia additloe to tbe mont}ilypa ymmt of~ principal and intercstpa yable undar tbe taru?s of t6e
nota secured hereby. Mortga~ot :bal~lpa
y to Mort~a~ee ea~h moat~r uatil aaid oote fs fully paid, oae-tvrelkh (1 / 12 ) of a sumeq ual to the
annual premiuai due Eor fire. asteaded covenge, and otber 6arscd i~urance iacluding flood iasurance. covrring the murtgaged proP~~Y.
plus tua aad assasmenb n~t due on the a~ortgaQed propt~ty (a11 ~s estimated by Mortga~ee) las all sums already pajd therefor. and to be
divided by the nnmbet of montht to elap~s ptior to tha date whea sueh ta~ca and au~axnt~ ahall becowe delinqueat. Said :ums shall be
held by M~xt~ee m cnut ot crediced m tbe principal of tbe k~n, to psY said iasuranoe. cases. aod assrsaments aad shall be applfed oo tbe
paymeat breof wbea due. My esoeat baW fa truat by ~x~y~whea said loan is paid io full :6a11 be pald to Mort~agor, oc WS~ ~
or penoaal represeatativa. In tbe eveat af a dehult or ~aid ~umt held ta tn~t maY bs applied oa any cosb of daus?ges
;n ooooection with t~s co~lection of c~s nooe .ecu:ed he~ebr wbether by s,~it, foreda:ure. o~ ocliez.vise. More~agee auy froma cime to tlme ac
~boptim w.ive, aod after auy ~ch waiver, retattste .ay ar all provlsioas heceof reQuiiia~ s~:c6 depos[b. by noacs co Morcgagor in wrt '
Whik aay sueh waiver b ia effsct~ Moct~o~ ~11 WY tue~. aa~wmeab and iasuraaoe premiumt as herefn eLew6ers provided.
Q0. Mort~g~ s6aII oomplx witL tbe ~iovi~ow o£ wY 1we. lf tWs mort~a~e is an a leateboid. If tbis moetgage ls ao a ooodflmInium uatt,
mort~a~or ahaII perform aIl of mort~a~ • obli~attom under tbs ded arstlon oF coadomtntum or master deed. t6e bylaws aod regulatioas d
of oondomintvm
r~itll ob~erve all af tbe mvt:to~~ af
t6es
i
d declaratio andb that 6e and tbe atsociation raponsible for the opecatloa
the stabe. and will p ~~Y aa~eadmeats tLento. and af the Coadominium law of
perform all obligatlc+~ tbereundec; ~ad a fatlure to do w w L not cured within 30 days afler ~tioe ~iven by the Mort-
gagee to tba mortgagor and tl~e sajd wociatlon shall coo~itute a defadt uader this mort~age Mortgagor further sperlfically covenants, but not
by way of limitatleo, that he and tbe auodation will obxrve all af the pr~visions of said declaration of condominium re4ting to insurance
coverage.
21. Mortgaga Eurther coveflants aad a~rea tbat at the raque~t of Mortgagee to fumtsh a staadard ternute bond insurin=aga~t damage
bY infestation on the buijdings now or henafter located on tbe mort~aSa1 Pmperty, in such aanounts and terms, and vvith avch caa?paoy ai
approved aad raqnired by Mort~ages; and in the av~ent Mortga~or does not comply vrith this covenant Mortgagee :hall have the same rights
to obtain ume ~ iasunnce oovenge under covenant ~3 hereo~.
22. That ia the event tLat thi: mortgage b pve~n to ~ecure a ooo:tniction loan, failure oa thep~ of the Mo~tgagor or tbe 1liortgagor's
contractor, architect, e~inee~s, or sub-oonErsetors to comply vrttb tLs terma of t6e Coostn~ctiou I.oan A~reement of e~•en date hecewith,
which is by reference inco~porated herein, ahall, at the option ef tbe Mortgagee, coastitute a default here euad r.
~~5~ P~ ~ a oae to four family dwelling, the Mortgagor covenants and agrees that he will, not later
than thirty (30) days after the end of the fiscal year, hunLsh unto the Associatian a canpkte and accurate balance sheet and profit and loss
statemeni n~fkcttng tbe Mort~agor's lisbilities as weU as profit and bsi for the fiic~l year, and such balance sheet and pro8t and loss state-
ment shall be prepared by a ceitified public uooumant liceased in the Stste of F1orWa, aad :l~aD be cectified as being correct by such certi-
fic~l public accountant.
~ a~
~ the su~ of hercin referred to be not promgtly and fully paid within thirty ( 30 ) days next aher the same severaIty
WYabk or if~ and eve:y the stipulation~, agreements. cooditteos and oovenaats of said prosaissory note and t6is mort-
w
a8e, or either. ue aot ~uly performed, c~plied w~tb and abided bY. the a te sum mentioned in said promissocy aote shaIl becane
naI1Y n1Pu~la~ted to be at the op~od of the Mo~g~ee, u~ rompkOely u i~ s~id a~regate sum of money wu origi-
paid oa sush day, everythin8 in said Proa~iaso*Y note or herein to the contrary notwithstandinQ.
23. In the event that t6e Mortgagor mabes payment by cheek or chccka that the Mortgagor has failed to propedy endorse, the
' \iortqagor does henby appo~nt the Mortgagee as ib attomcy-in-hct to supply on behalf of tbe MortgaAor any and all endorsemeets necessary
to negotiate said check or checl~ and tbc Mortgagor ag~s to hold the riortgagee harmless from any liability whatsoever for supplying said
erxiorsement In the event the Mort~agor shall c~sh a check for the Mo;tfiagor and same sha11 be returned for insuffieient funds or aay other
reason w tbst the Mortgagee ii unsble to co0eet its moaey, thea the Mortgagor hereby suthorizes the `1ortAagee to add said sum to the
Principal balanee of t~ mortgage and taid sum shaD be secured by aid promissary note and mortgage as though it was an additional advance
under the terms and eonditions of this mortgage.
26. Special provisiom:
tN WIT'IVESS WHEAEOF. the ~aid Mortgagor hu encuted this mortgage under seai on the day and/yeu herein fiist above written.
Si~ned, teakd and delivered in ti~e presence of:
;
~l ; ~ ~''~,Gr~ c s~?~.,
-
JAht D. MELTON JR
~ ~.~4-~
' - G"`" _ (SEAL)
~ 1
q y_y
~ ~ ' ` j ~ '90 .IAN 24 P 3 :53 ~ .
~oz~zz~ e
~ FILED t~ND kEC~:3K~~
~ DOUGI r~S t~iXON G; -
~ State of FLORIDA Sl. LUCI~ ~~'~Nt Y
The foreSoirwB iathuayi$ was•.i~cimowledged befoce me thi~ _.~~r-- day of ~ lg ~
~ ~ ,
by ~~~:~:::r•, January 90
~ 4`~~~SpD~~ ~,~'TON, JR. a single man
1~ . ) ~ti~•.
~l`-, r ~~~ifAjE OF iLOR~lt ~
;
{ . ~ ~ C~9'~A1~ E;P. AWt. 2~145+0 ---otary Public -
r ~ ~ ,,if 601~iPyJTi1R~ ~ ' IIFS. hYD.
~ ` ~ ~ ` ~ STATE OF FLORIDA AT LARGE
~ ~t~~a~~;~)".-
_ • ?
~ 1'; `i^h~K.Har;~~}~~
. _ ~
~j -
'k; ,
~ _
State of
County o~
The foregoing instrumeat wu aclmowledged before me t~is day of , 19 ,
, by ~ d
on behalf of t~e corpocation.
~ ~'(Y Cocnmission eipiree:
Notary Public
~ (;~otary Seal) g~QKs / 4 P~~E2045
E
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