HomeMy WebLinkAbout0091 Uue under this blortgaYe in me tirst caiendar montL following tbe espending of said sum. Such sums so c•-pended to bear interest at the rate
at which interest is payable upou said principal inciebtedutss and tbe lieu of t~?is hlortQage shall e:tend to and secure tl~e sums so espended
tog~ther with interest thereoa as hereinbefore provtded.
19. At mortgagee's optioa, toget~h~er with and in addition to tLe monthly payment of pnncipal and interest payable under the terms of the
note secured hereby~ Mortg~gor shallpa
y to Mort~agee eaeb month unti! said note is fully paid, one-twelEth (1/ 12 ) of a sum equal to the
annual preauum due for fue, eitended coverage, and other hazard insurance including flood insurance, co~~ering the mortgaged property,
plus taxes and assessmeats ne:t due on the mortgaged propetty (all ~s atimated by ~tortgagee) las aU sums already paid therefor, and to be
divided by the number of mont2u to elapse prior to the date w~en such turs and assesunents shall become delinquent. Said sums shall be
htld by Mortgagee in trust or credited to the principal of the lo4n, to psy said iasurance, tues, and assessmeats and shall be applied on the
paymeat thereof when due. Any ~oets held in tnut by Mortgagee whe~ said loan is paid in full shall be paid to Mortgagor, o~ his assign~
or personal repraeatatives. Ia tbe eveat of a deEault or foreclosure. taid sums held in tnut may be applied ou any costs of damages s~utaine~
in Cofl~Ap tv~t}~ ~tiw i'~~~!i'~09 IIO~ 'K~l:2'~ ZS81'L~Y ~L'! bY SiL~, fO~'~v~21fL', Of OLlstra'i3t. ;1C;:aaa~r uan~ i.v+Ti uiTic 2v wTtB ai
its~optioa wdve~ aad after aay such waiver, reiastate any or all provisioos hereof requiring such depaaits. Lly nnfiM ~~~.*a3$~s ,~.rin~g,
While anr :uch watYer is ~n effecc, Morcgagor shall pay ~a, anessmenb and insurance premiums as herein elsewhere provided.
20. Mort~ga~gor shall comply with the ~rovisioai of any lease, if this mortga e u on a leaxhold. If this mortgage is on a coadominium unit,
mortgagor shall pe~form aIl of mort~agor s obUgaaons under the declaration o~ coodominium or master deed, the by-laws and regulatioas ot
the coodonnininm pmject and eoastitueat docunoenb. Mortgagor furtber covenants that be aad the associ~tion responsible for the opention
of t}1C Condnminlum arill nh~rvw all nF fhw nmvicinne ni ~I,. ..:.i .i..r.l~.n?:_.. ~..d ..d...~~~_ ~1:e.o?.. ..t ~1~~ w.....1,....:::'.:.:, 'r
the state, and will perform all obligatioas theieundcr, and a failure to do so which is not cured witbin 30 days after noticc given~by the ~1ort-
~agee to the mostgagor and the said association shall eonstltute a default under this mortgage. :~iortgagor further specifically covenants, but not
by way of limication, that he aad the association will observe all of the provisions of said declaration of condominium reiating to insurance
covtrdge.
21. r~ortgagor further covenants and agrees that at the request of Mortgagee to furnish a standard termite bond insuring agaiast damage
by infestation on the buildIngs now or ~ereafts~ located on the mortga ¢ed property, in suc6 amounts and terms, and with such company as
approved and required by Mortgagee; and in the event Mortgagor does not comply with this covenant ~lorcgagee shall have the same rights
to obtain same as insurance coverage under covenant st3 hereof.
22. That in the event that this mortgage is pven to securo a coastruction loan, failuro on the part of the ~toctgagor or the ~tortgagor's
contractor, architect, en~ineers, or sub-contractors to comply with the ternu of the Construction Loan Agreement of e~en date herewith,
which is by reference incorporated herein, shall, at the option of the Mortgagce, constitute a default hereunder.
23. If the mortgaged premises is other than a oae to four facnily dwelling, the Mortgagor co~~enants and agrees that he will, not later
than thirty (30) days aher the end of the fiscal ytar, f~irnish unto the Association a complete and accurate balance sheet and profit and loss
statemenC reflerting the Mortgagor
s liabilities as weA u profit aad loss for the fiscal year, and such balance sheet and profit and loss state-
ment shall be prepued by a certified public accountaat liceased in the State oE Florida, and shaU be ce~tified az being correct by such certi-
fic•~! public accountant.
24. If any of the sums of money herein referred to be not promptly and fully paid within thirty (30) days next after the same se~•erally
become due and payable or if each and every the stip ulations, agreements, conditions and covenants of said procnis~ory note and this mort-
gage, or either, are not ~uly performed, complied with and abided by, the_ aggregate sum mentioned in said promissory note sLall become
due and payable forthwith or thereafter at the option of the Mortgagee, as fully and completely az if said agRregatc sum of money was origi-
nally stipulnted to be paid on such day, everything in said proinissory note or herein to the contrary notwithstandinQ.
2~. In the event that the Mortgagor maka paymeat by check or checb that the \lortgagor has failed to properly endorse, the
~iortqaAor doei hereby appoint the Morigagee as its attomty-in-fact to supply on behalf of the Nortgauor any and aU endorsements ne.cessarv
to negotiate said check or checks and tht Mortgagor a~rees to hold the \iortgagee harmless from any liability whatsoever for supplying said
endorsement. In the event the Mortgagor shaD cash a check for the Mo:t~aqor and same shall be returned for insufficient funds or any other
reason so that the Mortgagx is unable to co~lect its moary. thea the :1lortgagor hereby authorizes the ~torteagre to add said sum to the
principal balance of thi~ mortgage and said sum shall be secured by said promissory note and martgage as thouRh it was an additional ad~•ance
~~nder the terms and condibons of this mortgage.
26. Special prmrisions:
I\ WI'I'NESS WHEREOF, the said Mortgagor has ciecuEed tbis mortgage under seal on the day and/year herein first above writtea.
,
Si:ned, seakd and deliveced in the presence of: ~
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~ - - - - . (SEAL}
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i C D. KI
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j KATHLEIIJ C. K I NNF.'Y
~ '90 JAN 26 A11 :3 ~
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~ ~O~;GI A~; z.l;N
stace of ~ 1 i_±: ,-';N ~ ~ -
~ c:ounty of FLORIDA
The forego~~t was aclmowledged bafore me this 24 d~Y ~ JAN[)ARY • 19 9~ ,
by
CRAWFORD D. KINNEY & KATHLEIIJ C. KIt1NEY, HIS WIFE
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NOTARY ~UBIIC; ST/~TE OF FLpR~~A AT LAROi N~ry -_-li~
E M1' C0.1A1N:
" SSION EXPIRc'S MAY 13, 149~
~ \otary Seal) gONDED TNRU AGENi'S NOTAkY 6AOKcRAOE • ~ '
F ~1'~ ~ 1 j~,~'~;i,;;
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Stata of - - - ~Y _
County of = ~j 0
; The foregoing imtrument was aclmowledged before me t~is day of ~~v .:3 ~ 4C:~ 19 ,
~ by ,nd ,,,~.t.~,~~~ ~
;
~ on behalf of the corporation. •
~ \iy Commission e=pires:
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Notary Public
! \otary Seal ) 8001( PAGE O~~
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