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HomeMy WebLinkAbout1246~~~~ 5~l ~AC~ ~`~~' ~t.-'-~~~~ t:^'1HT~~ rtA~ at all times peaceably and quietly to enter upon, hold, occup} and enjoy said laixi; ihst said land is free from. au encumbrances; that they will make such further assurances to perfect the fee simple title to said land in the Association as nary rcuwnahly be required; 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. PROVIDED ALWAYS .hat if the Dortgagors shall well and tnrly pay wrto the Association, the indebtedness c~•idenced by that certain promissory note, of even date herewith, made by the Mortgagors and payable to the Association, in the principal sum of .. ~IGHT._T.IiQU~A-ND S~VF.~N_HLIN)?~'~A--FZ~'TY_AI~II~-.I}I4~10.Q---Dollars (3 -. ~,'~`~Q•.00 ), which note, together with interest thereon as therein specified, is payable in monthly installments of~IXTX-NI~T~. A.NIa - _,_ -----------------------------°---- Ilnrs .-.- - --- ----------- -- -- -- - ----- ---..Do ----- --- --......-. S ), ---- _ December 20 1952 .which emits on the. 20.- -----day of each month commencing with - - - -------------- ----------------- ---------~-----•-- ------- - ------- - PaYm are to be applied, first to interest, and the balance to principal, until said inde)tedness is paid in full, and shall perform, comply with and abide by each and every the stipulations, agreements, conditions and covenants of said promissory not Y ~n ~~hriie mortgage, And, including any advances made by the Association to the Mortgagors, or their successors in title, for an at env 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 ur a sum in excess of.F.,ICz1iT..THQ_IISANI~_.SE3lEH-__---- HUNDRED__FIFTY_AND_NO/100-_--_-_-_--_--------'.'Dollars ($_.8,.7.50._00_-__-), 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 principal and interest and other stuns of money payable by virhre of said promissory note and this mortgage, or either, promptly on the days respectively the same severally come due. 2. To pay all and singular the taxes, assessments, levies, liabit~ties, obligations and incumbrances of every nature and kind noa• on said described property, or that hereafter may be imposod, suffemd, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon t1iIs Mortgage, or the indebtedness secured hereby, each and every, when duean~d~farblas according to law, before they become delinquent, and before ary interest attaches or any pe~al~y it incurred; any thereof is of record the same shall be promptly satisfied and discharged of record and the original official document (such as, for inst<1nce, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Association as !~iortgagea within ten days next after 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 affeetin any option,-lien, equity opra ri ht under or by virtue of this Mortgage, and the full amount of each and ~evcl ~ t~lre note~seceured h~eby and ogethe.awith such in~re and shall bear interest from the date thereof until paid at the rate sta eat shall be secured by the lien of this Mortgage, 3. To keep the 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-rnsur- ance requirement covering the same under the laws of the Stnte of Florida, covering loss from both fire and storm, malting the loss under said policies, each and every, payable to the Association, as mortgagee, a§ its interest may appear, and said insurance shall be in a good and responsible insurance company satisfactory to said Association, and written •by a ras~°nsible local agerrt satisfactory to said Association; and the policy or,policies shsrll,bear a staidard mortgage ilea--~ witho~t~contn h ~Associati nall~ held by the Association, and, in the event any sum of money becomes payable uuuee sac.. t... ~ have the o lion to receive and apply the same on account of the indebtedness hereby secured, or ~ ~ ty; t Lhe mortgagors to p b . waivin or im irin an ui tier,, or ri ht under receive and use it, or any part thereof, for other purposes, witnoul thy':: } g p~ g and by virtue of thin mortgage, and may place and pay for such insurance, or any part thereof, without waiving or of ectirrg its option to foreclose, or any right hereunder, and Lhe 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 permit, commit, or suffer no waste, impairment or deteriorztion of said property, or any part thereof, .and upon the failure 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 debda sLebhall constitute aebreach of thismm~rtaaoe, to comply with said demand of the Association for a period of Thirty (30) y , and, at the option of the Assxiation, immediately mature the entire amount of principal and interest hereby segued, an e Association, immediately and •Nithout notice, may institute proceedings to foreclose this mortgage and apply for the appointment of a Receiver, as hereinafter provided. 5. This mortgage contract provides for additional advances w}itch may be made at the op~on of the associaiio,r and secured by this mortgage, and it is agreed that ir. the event of such advances the amount ,nay be added to the mortgage debt and shall increase the unpaid balauce 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 note and this contract as fully as if a new such note and contraM were executed and 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 i,~terest rate and ether express modifications of the contract, but in all other respects this contract shall remain in fu1_1 fore and effxt as to said indebtedness, including all advances. 8. if any of the sums of money herein referred to be not pr~pdy and ~llY Paid within Thirty (30) days next after the same severally come clue and payable, or if each and every the strpulations, agreement, conditions, and covenants of slid promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum= mentioned in said promissory note a,,d any other amount or amounts added to the mortgage indebtedness under the terms of th.s mortgage shall become due and payable 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 an such day, anythhrg in said promissory note or herein to the contrary not- withstanding. 7. 'I'o deliver to the Association, on or before March 15th, of each year,•tsx receipts evidencing the payment of all law- the prrymerrt of all Lens fully imposed taxes for the preceding calendar yyear; to deliver to klre Association. receipts evidencing for public imnrovementa within ninety (f30) days after the same shall become due and payable, and to pay or discharge wlthirr ninety (90) days after due date, any and ail governmental levies that may be made on the mortgaged property, on this mortgage or rote, or in any ot}rer way resulting from the mortgage indebtedness secured by this mortgage.