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Home My WebLink About1401o. a. 3 120 enoK ST, LUCIE COUNTY. FLA. at all tames ppeeaacoeeaably and ~„ietly to enter upon, bold, occupy and enjoy said land; that said Land is free from all encumbrances; that they wl$`make such further aswaanoa ~ peeled the fes simple title to said land m the Association as may reasonably be cell ,and that they do hereby fully warrant the title to said land and will defend the same against the lawful claims of all persons whomsoever. PROV1BEfl ALWAYS that if the M ggagers shall well and truly pay unto the Association, tbe indebtedness evidenced by that certain promissory note, of even datetherewitb, made by the Mortgagors and payable to the Association, in the principal NIIVE THOUSAND AND NO/100 -------------------------- sum of --- --- ------------------------------- - ------------------------------- ------ ------- ----- --- - -- ---------------- - - -- Dollars (= 9, 000.00.. ). whidi note, together with interest thereon as therein specified, is payable in monthly installments of - X35.46 OA. - Feb~-tzary__ 2-0, -1961_ anti- X50. C3_ tin 1biar.:h 2Qr _ 1~~51, and SEVENTY Ti~O ~!NL~ N0~ 190 ------------------------------------------------------------------------------ -------------------------------____°_____~_ - -------___~-- Doha j- -- 2 0th y . g ril 2 0, i 5 6 i -which payments on the. - ----..-- der of each month commenpn vnth-._.---_ ____~ ---,---__-_-- ---------------- ---- ------ -- - are to be applied first to interest, and the balance to prindpal, until said indebtedness is paid in full, and shall perform, comply with and abide by each and every the ~p~a~ions, agreements, conditions and' covenants of said promissory note and t~-i. mortgage. And, including any adv ~•._oes awde by the Assodation to '.l a Mortgagors, or their suocesson in title, for any purpose, at any time before the ukase A:d c~r>cellation of this mortgage, but at no time shall this mortgage secure advances on account of said original note together with such additional advances in a sum in e:oess of-___-_____-__---_.___~__-________~_________-______-- - NINE_ THOUSA.ND_AND NO 100 -------- 9, _ _ ---- Dollars (_ --- - ----___--- -- _-), plus any advances necessary to protect the security and costs, then this deed and the estate hereby created shall cease and be null and void. AND THE MORTGAGORS DO hereby covenant and agree: 1. To pay all and singular the prim«~ and interest and other sums of money payable by virtuo of said promissory note and this mortgage, or either, promptly on days respectively the same severally come due. 2. To pay all and singular the taxes, asse>sments, levies, liabilities, obligations and incumbrances of every nature and kind now on said described property, or that hereafter may be impwed, suffered, nlaoed, levied, or assesseu eel thereon, or that hereafter may be levied or assessed upon this Mortgage, or the indebtedness secured hereby, each and every, when due and pa able, according to law, before they become delinquent, and before any interest attaches or an alty is incurred; and insofar as any thereof is of record the same shall be promptly satisfied and d~charged of record and the original official document (such as, for instance, the tax receipt or the satisfaction paper offidally endorsed or certified) shall be placed in the hands of said Association as Mortgagee within ten days neat aker payment; and in the event that any thereof is not paid, satisfied and discharged, said Association may at any time pay the same or any part thereof without waiving or affeclfig any option, lien, equity or ri~t under or by virtue of this Mortgage, and ibe full amount of each and every such payment shall be immediately due and pays le and shall bear interest from the date thereof until paid at the rate stated in the note secured hereby and together with such inter- est shall be secured by the lien of this Mortgage. 3. To keep the buildings and all equipment and :oriel property now or hereafter on said premises covered by this mortgage, insured in a sum equal to at kart the amount of the mort~age, or as amount suffident to comply with any co-insur- ance requuement covering the same unaer tine laws vF sue Stato vi rioriaa, covering loss from Doth Lire and storm, making the loss under said policies, each and evtry, payable to the Assodation, as mori¢aiCee, as its interest rosy a_noear_. and said insurance shall be in a good and responsible iruurance company satisfactory to said Association, and written -by a responsible local agent satisfactory to said Association; and the policy or policies shall bear a standard mortgage clause without contribution, and shall be held by the Association, and, in the event any sum of money becomes payable under such policy or policies, the Association shall have the option to receive and apply the same on account of the indebtedness hereby secured, or to permit the mortgagors to receive and use it, or any part thereof, for other purposes, without thereby waiving a im wiring any equity, lien, or right under and by virtue of this mortgage, and may plaeq and pay for such in:trranoe, err pay part hereof, without waiving or affecting its option to foreclose, or any right hereunder, and the full amount of each and every such payment shall be immediately due and payable and shall bear interest from the date thereof until paid at the rate stated in the note secured hereby and together with such interest shall be secured by the lien of this Mortgage. 4. To pemut, commit, or suffer no waste, impartment or deierbration of said property, or any part thereof, and upon the failure of the mortgagors to keep the buikihigs on acid property in good condition of repair, the Association may demand the immediate repair of said buildings or the immediate repayment of the debt by centred, and the failure of the mortgagors to comply with said demand of the Association for a period of Thirty (30) days shall constitute a breach of this mortgage, and, at tie option of the Assodatbn, immediately mature the entire amotmt of principal and interest hereby secured, and the Association, immediately and without notice, may fnstitute proceedings to foreclose this mortgage and apply for the appointment of a Receiver, as hereinafter provided. 5. This rnortgage contract provides for additional advances which may be made at the option of the association and secured by this mortgage, and it is agreed that in the event of such advance. thw .n,tnn,t may hw Add.,d m the *_•;•,•rgpgs de:.> anti shall increase the unnaici ha~a ~n ~ }~ ~ ~hj i~-~d by tie :uw,iaut ~i s~ii-a'iw'-van~ and -snail be a parr of sain note indebtedness under all the terms of slid note and thb oontiuz .: ii„ rY as ii a new such acre and oonizaei wero executed and delivered. An additional advance agreement may be given and aeoep0ed for such advance and providor- may be made for different monthl;c_payments and a different interest rate and other eeascpp~~s modification: of the contract, but in all other respects this contract shall remain in full force and effect as to said indebbtednes:, irrduding all advances. 8. If env of the sums of money berefn referred to bs >~ ps~p0y ~ fupy, p~ wtthia ~, (3p) day: ne:t after the same seversdl}t_oome due and payable, or if each and every the si~ptilatioos. agreement, conditions, and covenants of read promissory note and thb deed, err either, are not drily performed, complied tRnth and abided by, the aggregate sum meattaoexi in said promissory note and an other amount a amotrnb added to the mortgage indebtedness under the recess of this rnortgage shall become due and payable forthwith or thereafter at the option of the Assodatioq of fully and completely a: if said aggregate withstand was ~~ ~~~ tO bs paid ao sut~ day, anything in said promiaory note tx herein to the contrary not- 7. To deliver bo the Assodatioo, on otf before March 16th, of e~sch year, tau reoeipb evidencing the payment of all law- fully im taus for the preceding calendar year; to deliver to the Aaadation reoeipb the paymart oaf all liens for ~ Ada after d within nicety (~~ days :Else the ::time sia11 beoasrse due and pa~ysble4 to pay or discharge within Pe(or)ia Y• ~~ wa ~• a°r and goveromeot~l7evks that mar be made on the maRgaged papery, on this rrtortgage i°Y y ttom the mort~sa irtdabtechtew seostrsd b7- t)ris mert~t je. . •- t c~