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Home My WebLink About0452v. R.• 4~ ~~c~$52 any at all times I~aCY'ably and quietly to enter upon, held, occupy and enjoy raid land; that said lend is free Erom all eucunibrar,cw; that they will makA such farther assurances to perfect th4 fc~e simple title to said land in the Association as may reasonably be rcYlui:ed; and that they do hereby fully warrant the title to slid land and +vill defend the same against the iu++•ful claims cf all lx•ruurs +vhomsoevcr. YRO\'IUEU AL\\'Al'S that if the '~furtgagors shall well and tnily pay unto the Association, the indebtedness evidenced by that cY•rtain promiscrv note, of even date herewith, made by the Mortgagors and payable to the Association, in i„e principal s:un of SIX-THOUSAND. FIVE HIJTTDRED-Fi.ND N(~-/1-00--_----.-----_-.--Dollars ($ 6, 500. 00 ++hic•h note, together ++~th interest themon as therein specified, i~ payable in monthly installments of FIF'i Y-ONE; AND iV0/100--------.----------------.------.-.-------.----_----.--.-. _--- .-_-.-_-------_..-.--------_ Dollars ($ _ 51.00 on the 8 clay of each month cumme~icing with ~-.--._ _- _________.___.December 8l_-_ 1962_-_ __ _____ ._-++.hich payments arc to lx' applied, first to interest, znd the balance to principal, until said indebtedness is paid in full, and shall perform, comply +vith and abide by ^ach and e:•ery tho stipulations, agreements, conditions and covenants of said promissory note and this mortgage, And, including any advances made by the Association to the lortgagors, o: their successors in title, for any purpose, at anv time before the release and cancellation 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 sure ig excess of_~JX._~IQU-~OH~.~y~i__KLI~'___.._ DIZED AND NQ11 OQ-= - --' - --- -_-__-_-_- - -_- - -.- - - -. DolLirs (S --_5.,..`~OQ._QQ--.). plus any advances necessan• to protect the security and costs, then this deed and the estate hereby created shall cese and be null and void. .1ND THE \1ORTGAGORS DO hereby covenant and agree: 1. To ley all and su)giilar the principal and interest and other sums of money payable by virtue of said promissory note and this mortgage, or either, promptly on the days respectively the same severally come due. °_. To pay all and sing•iLu- the taxes, assessments, levies, liabilities, obligations and incumbrancs^s of every nature and kind uo+v on said described property, or that hereafter may be imposed, suffered, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon this :Mortgage, or the indebtedness secured hereby, each and every, when due and pa}'ablc, according to law, before they become delinquent, and before any interest attaches or any penalty is incurred; and irssorar as any thereof is of record the same shall be promptly satisfied and discharged of record and the original official document (such as, for instancy; the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said :\ssociation as Mortgagee within ten days next after payrrrent; and in the ~ rent that any thereof is net paid, satisfied and discharged, said Association maw at any time pay the same cr any part thereof without waiving or affecting any option, lien, e~;uity or right under ur by virtue of this 'Mortgage, 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 witti such inter- c•st shall be secured by the lien of this Mortgage. 3 "I'o keep the buildings and all equipment and personal property now or hereafter on said premises covered by this mortgage, insured in a sum eq=cal to at least the amount of rho mortgage, or an amount sufficient to comply with any co-ins,a- ance requirement co.•ering the same under the laws of ts`re State of Florida, coveru)g loss from both fire and storm, making the lass under said policies, each and every, payable to the Association, as mortgagee, as its interest may appear, and said insurance shall be in a good and responsible insurance company satisfactory to said Association, and written by a yesp~o°nsible local agent satisfactory to said Association; and the policy or policies shall bear a standard mortgage clause without ce:itribution, and shall be held by the Association, and, in the event any sum of money bocomes 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 nreive and use it, or any 1~1rt thereof, for other purposes, without thereby waiving ~* im~iring any equ~ty, lien, or right under :rod l,v virtue of thie mortgage, and may place and pay for such insurance, or any part t, ereof, 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 i>ayablc and shall bear interest from the date theroof anti: paid at the rate stated in tt,e note secured hereby and together with such interest shall be secured by the lien of this 1liortgage. 4. To permit; commit, or suffer no waste, impairment or deterioration of said property, or any part thereof, and upon t},e failuro of the mortgagors to keep the buildings on said property in good condition of repair, the Association may demand the immediate repair of said buildings or the immediate repayment of the debt hereby secured, and the failure of the mortgagors to comply with said demand of the Assoeiatio^ for a period of Thirty (30) days, shall constitute a breach of this mort age, and, at the option of the Association, immediatel}~ matarc- the entire amount of principal and interest hereby secu*ed, ar,~ the :lssociation, immediately and without notice, may institute proceedings to foreclose this mortgage and apply for the appointment of a Receiver, as hereinafter provided. ;,. This mortgage contract p=~ovides for additional advances which may be made at the option of the association and secured by this mortgage, and it is agr,~ed that in the event of such advancers the amount may be added to the mortgage debt and shall increase the unpaid balance o` t.,e note hereby secured by the amount of such advance and shall be a part of said note indebtedness under 1111 the terms of sata +_Lie and this contract as fully as if a new such note and contract were executEd :rod delivered. An additional advance agreement may be given and accepted for such advance and provision may be made for different monthly payments ~ nd a different interest rate and other express modifications of the contract, but in all other rest•)ects ibis contract shall remain in full force and effect as to said indebtedness, including all advances, 0. If any of the sums of money herein refereed to be not promptly and fully paid within Thirty (30) days next after the same severally came due and payable, or if each and every ;he ;,tipulations, agreement. conditions, and rnvenants of said pronissory note snot this died, or of+lrrr, are not duly perfonrred, complied with and abided by, ire aggregate sort mentioned in s<a+d promissory note ~.xl any othe* amount or amounts added to the mortgage indebtedness under the terns of this mortgago shall become due and pavsble forthwith or thereafter at the option of the Association, as fully and completely as if said aggregate sum of money was originally stipulated to be paid on sac's day, anything in said promissory note or herein to the contrary not- withstanding. %: To deLvc_ to uhc issi,%iatiVi,, ou or before March 15th, of each year, tax receipts eviden~k-rg the payment of all la+v- fully imposed taxes for the preceding eslendar yyear; to deliver to the Association receipts evidencing the payment of all liens for public improvements +vithin ninety (i}0} days after the same shall become due and payable, and to pay or discharge within ninety (90) days after due date, any ar~1 all governurental levies that may be made on the mortgaged property, cn this mortgage or note, ar in 1ny other way resulting from rile mortgage indebtedness secwed by this mortgage. {