HomeMy WebLinkAbout0097 .,.,a ...v..ao~c ua uac auaa ~a~cuurr u~Vnci7 VuOWI~g u)e C]CpCOIIIAg OI Shca SLLIII. JUCI1 Sl1Ill5 SO CIjX~ldfd IO bC37 lI1tC[e5t 8~ ~E I~~C
at wtuch interest is payable upoa said p~incipal indebtedness and tha lien of this ~tortgage shall eztend to and secure the sunu so e~ended
together with interut therean as hereinbefore provided.
19. At mortgagee's optioa, together wi!b and ia addition to the monthly payment of principal and interest payable under the terms of the
note secured hereby. MoKgagor shall pay to Mortgagee each month until said note is fully paid, one-twelfth (1/ 12 ) of a sum equal to the
annual premium due for fire, e~teoded rnverage, and otber ha7ard insurance including flood insurance, co~~ering the mortgaged property,
plus taxa and asseuments nert due on tDe mortgaged property (all u estimatrd by ~lortgagee) less au sums already paid therefor, and to be
divided by the number of mooths to eLpse pdo~ W tbe date when such tues and assessments shall become delinquent. Said sums shall be
held by Moctgagee in trust or credited w the principal of the loon. to pay said iasurance, t~es, aad assessments and shaq be applied on the
payment thereof whea due. Any e~cess beld in tiust by Mortgagee when said loan is paid tn full shall be paid to Mortgagor, or his assigas
or personal represeatatives. In the event of a 3efault or forecloaure. ~id sums 6eld in tivst ma be applied on any costs of damaga s~utaine~
in conaecCion with the oollechon of the mte ~ecu~ed hereby ~.?6,~~w{ hy n~f~ ~~nrlnn~„rw~ o• eL~ernise. Riarigsgre may fs~~ tirr~e ta ti,ie at
its~option waive. aad after any such waiver, reinstata any or all provisiont hereof requiring such deposits, L~y nptice to ~!oltgagor in writiug.
~"v~e any sucb waiver Is In effect. Mortgagor shall pay tues~ assessmeab and iasurance premiums as herein elsewhere provided.
20. Mort~ga~gor s6a11 comply with tha ~rovisions of any lease, if thls mortga~e u on a leasehold. If this mortgage is on a rnadominium unit,
moctgagor ~ha11 perform all of mortgagors oblig~tions under the declaration of condominium or master deed, the by-laws and regulatioas ot
the ca~ndotninium project and coastitueat documenb. Mortgagar furtber covenants that he aad the association responsible for the operation
of the ooodominium will observe all of the urovisioas saia dec~aratin~_ ~nr1 anv nm~ne~m...~e ~...i ,.t •~.e f'~,,.,,7,,..,:.,:.._ t_.,. _c
the state, and will perform all obligationi thereunder; and a failure to d o so which is not cured within 30 days after notice given ~by the Mort-
gagee to the mortgagor and the said association shall constitute a default under this moctgage. I~tortgago~ further specifically coveaanu, but not
by way of limitation, that he and t6e association will observe sIl af the provisions of said declarntion of condaminium reiating to inturance
coverage.
21. I?tortgagor further covenants and agrees that at the reqvest of Mortgagee to furnish a standard termite bond insuring agaiatt damage
by infestation on the buitdings aow or hereafter located oa the mortga ged property, in such amounts and temu, and with such company as
apFroved and required by Mortgagee; aad in the event Mortgagor does not comply with this covenant Mortgagee shall have the same rights
to obtain same as insurance coverage under covenant ~t3 hercof.
22. That in the event that thtt mortgage is given to secure a coattruction loan, failure on the part of the '.lortgagor or the ~tortgagor's
contractor, architect, =n~ineers, or sub-contractors to comply with the terau of the Construction Loan Agreement of e~•en date he~ewith,
w~hich is by reference incorporated hercin, shall, at the option of the Mortgagee, cotsstitute a default hereunder.
Z3. IE the nwrtgaged premises is other than a one to fow family dwelling, the Mortgagor coveaants and agrees that he .vill, not later
than thirty (30) days after the end of the fiscal year, h~mish unto the Association a complete and ~ccurate balance sheet and profit and loss
statement reflecting tha Mortgagor
s liabilities as well u profit and loss for the fiscal year, and such balance sheet and profit and loss state-
ment shall be prepared by a certified publlc accountant liceased in the State of Florida, and shall be certified as being correct by such certi-
fiz~~l 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 severally
become due aad payable or if each and every the stipulatioai. agroements, conditiau aad covenants of said promissory note aad this mort-
$age, or either, are not c~uly performed, complied with and abided by, the aggregate sum mentioned in said promissory note shall become
due and payable forthwith or thereafter at the option of the Mortgagee, as fully and completely as if said agAregate sum of money was origi-
nally stipiilated to be paid on such day, everything in said promiasory note or herein to the contrary notwithstandin~.
?a. In the event that the Mortgagor makes payment by eheck or checks that the ~iortgagor has failed to properly endorse, the
~tortqaRor dces hereby appoint the Mortgagee as its attomey-in-fact to supply on behalf of the 4lortga¢or any aad all endonemenis necessary
to negotiate said checic or checks and the Moctgagor agrees to hold the \tortgagee harmless from any liability whacscever for supplying said
endorsement. In the event the Mortgagor sha11 cash a check for the Mo:teagor and same shall be returned Eor insufficient funds or any other
reason so that the Mortgagee is unable to collect its money, thea the Mortgagor hereby suthorizes the L~ort~agee to add said sum to the
principal balwce of thit mortgage and said sum shall be secured by said promissory note and mortgaga as though it was an addicional ad~•ance
„nder the terms and conditions of this mortgage.
' ?6. Special provisions:
I` WI1'NESS WHEAEOF, the said Mortgagor has axutied t~is mortgage under seal on the day and/year herein first above written.
Si~ned sealed and delivered in the presence of: ^ •
~ ,
a r ~-f J ~a
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~ - - - ~ _
i H. X.l
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~ r' - -~__~1~-~~ ~ - - ~ ~ ~ ( SEAL )
AS'~~g A~ynQ;,~- Wi~ox .
~ OLIN R. WILCOX ~
/
I i~< ~ ~ ~ '90 JAN 26 Al l :3
to Olin'R. Wil,c x 1021fi72 B~1
~ r i ~ t ~ . `i ~ E
~ , ~~UGI ~ . x~N _
~ 5tate of FIARIDA ~ i ~ i l,: `N ~ r~
~ Catmty of ~RTIN
~ The faregoing instn~meat was sclmowledged before me Yhis 23 ~Y ~ JANUARY . : l9 90 ,
~ h~ ALYNE H. WILCOX, MARRIID ~i
~
~ t y Commi~sion espires: . _ ; - ~ = ~
--~L"• ,.~~~c1
~ NOT - ~ ~ . ` ~ - ~
ARY PU3lIC/ STATE Of FLOwIDA A7 1 ARGE y~t~ ~~C ~
A ' r'1 1 J
k MY COMPAiSSION EXPIRFS SIAY 13, I; i., .
~ 80HDED iHRU AGENT'S h07 - ~ ' ~C•=;;.~•' ~ v :'z='
~ ~ \otary Seal) •...Y :.,._„avE ~ ~ ;
e .
~
State of FLORIDA
County of PALM BEACH e~~y~~~~^uinr~r,, µ
The fo~going instrument vras aclmowledged before me this dsy of r~:~% .
JANUARY ~a~~ - . 1.S 9Q .
` ~Y OLIN R. WILCOX X~X
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