HomeMy WebLinkAbout0581BORK ~J PA6E ~~~
ST, ~UCiE C UN i Y, FI.A.
at all times peaceably t.nd gtuetly to enter upon, hold, occupy and enjoy said land; that said land is free from all encumbrances;
reauirecl; and th~tethey clo hereb~fully~watrrantrthe tine to saidplandtlend will defend theesame :gainstathe 1 wfuloclai~ms eE
y
all persons whomsoever. ,
PROVIDED ALWAYS that if the Mortgagors shall well and truly pay unto the Association, the indebtedness evidenced
by that certain promissory tote, of even date herewith, made by the Mortgagor3 and pay„ble to the Associati:in, in the principal
sum of . SIX. THOUSAND %HREE HUNDRED- .AND NO ~-100 - - --- -.- - --- - --- Dollars (s -- °:.300.00 )
which note, together with interest thereon as therein specified, is payable in monthly installments of FIFTX-ONE AND -
NO/100--------------------------------------_-_--_----_-_------_------------ ---.------------- - - -
---
-- ------------- --
- - _- - -
----------------------- -------- ---------------_--.-Dollars ( •- - - )
----
__ ___________DeCember_9,__1962------ - ----------------which ~a roosts
nn the.. -. - -~-.- -_.-day of each month commencing with 1 >~
are to be applied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, Comply
with and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and this
mortgage, And, including any advances made by the Association to the 1lSoitgagors, or their successors in title, for any purpose,
at any limo 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 sum in excess ef_S~_THOUSAND-_THREE_ HUN-
DR,ED_-~N~--~O~-~-9Q---'---°--------~---_--_--_---___----_-.Dollars (5...6._3-QQ.-QO-_--), plus any advances necessary
to protect the security cnd 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 snd singular the principal and interest and other sums of money payable by virtue of said promissory note
and this mortgage, or either, promptly on t e days respectively the same severally come due.
2. To pay all an2t singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind
now on said described property, cr that hereafter may be imposed, suffered, placed, levied, or assessed thereon, or that hereafter
ma}• be levied or assessed upon this Mortgage, or the indebtedness secured hereby, each and every, when due and payable,
according co law, before they become delinquent, and befo~a any interest attaches :r any [~salty is incurred; and insofar as
any thereof is of record the same shall be promptly satisfied and discharged of record and the original official document (such
as, for instance, the tax receipt or the satisfactioy. parr officially endorsed or certified) shall be placed in the hands of said
Association as Mortgagee within ten clays next after pa}'ment; and in the event that any thereof is not paid, satisfied and discharged,
said Association may at an}' time pay the same or any part thereof without waiving or affecting any option, lien, equity or right
under or by virtue of this Mortgage, and the full amount of each and every such payment shall be immediately due and payable
and shall !~?-* interest from the date thereof until paid at the rate stated in the note secured herebv and together wiih such inter-
est shall be secured by the lien of this 1`iortgage,
3. To keep tl,e buildings and all equipment and personal property now or hereafter on said premises covered by this
mortgage, insured in a sum equal to at least the amount of the mortgage, or an amount sufficient to comply with any co-insur-
ance requirement covering the same under the laws of the State of Florida, covering loss from both fire and storm, making the
loss under said policies, each and every, pa}'able to the Association, ,u mortgagee, as its interest may appear, and said insurance
shall be in a good and responsible insurance company satisfactory to said Association, at~d 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 1>e
held by the Association, and, in the event any sum of money becomes payable under such polic}~ or policies, the Association shall
have tie 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 othrr•purposes, without thereby waiving or impairisg any equit}', lien, or right under
and by virtue cE this mortgage, and may place and pay for such insurance, or any part thereof, without waiving or affecting its
option to foreclose, or any right hereunder, and the full. amount uE each and every such payment shall be immediately due and
payable and shall bear interest from the date thereof until paid at the rata stated in tl,e note secured hereby and together with
suchsnterest shall be secured by the lien of this Mortgage.
~. To permit, commit, or suffer no waste, impairment or deterioration of said property, or any hart thereof, and ulx~n
the failnro of the mortgagors to keep the buildings on said property in good condition of repair, the Association ma}• demand the
immediate repair of said buildings er the immediate repayment of the debt hereby secured, and the failure of the mortgagors
to comph• with said demand of the Association for a period of Thirty (30) days, shall constitute a breach of this mortgage,
and, at the option of the Association, immediately mature the entire amount of principal and interest herebv secured, and the
Association, immedi<tely and without notice, may institute proceedings to foreclose this mortgage and apply for the appointment
of a Receiver, as hereinafter provided.
5. This mortgage contract provides fir 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 advances the amount may be added to the mortgage debt
and shall increase the unpaid balance of the note hereby secured by-the amount of such advance and shall be a part of said
note indebtedness under all the terms of said rote and this contract as fully as if a new such note and contract were executed
:,nd delivered. An additional advance agreement may be given and accepted for such advance and provision may be made for
different monthly payments and a different interest rate and other express modifications of the contract, but in all•other respects
ibis contract shall remain in full force and effeM as to said indebtedness, including all advances.
8. If any of the sums-of money herein referred to be not promptly and fully paid within Thirty (30) days next after
the same severall}' come due and payable, or if each and every tha stipulations, agreement, conditions, and coven:,nts of said
promissory nose and this deed, or either, are not duly perforr.~ed, rnmplied with and abided by, the aggregate sum mentioned
in said promissory note and any other amount or amounts added to the mortgage indebtedness under the terms of this mortgage
shall becvrr,e due and ply:j~la 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 ot: such day, anything in said promissory note or herein to the contrary not-
withstanding.
7. To deliver to the Association, on or before ?March 15th, of each year, tax receipts evidencing the payment of all law-
fully imposed taxes for the preceding calendar year; to deliver to the Association receipts evidencing the pa}•~nent of ail liens
for pubic improvements within ninety (80) days after the same shall become due and payable, and to pay or discharge withui
ninety (90) days after due date, any and al] governn;ental levies that may be made on ':he mortgaged property, on .his mortgage
or note, or in any other way resulting from the mortgage indebtedness secured by this mortgage.
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