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HomeMy WebLinkAbout14200. R. ~' Bii~K J~ l~r.(.~ ~~ cr. .''~~If C;''.'~T~, ~~ A TO IiAV!•: A*vrD TO HOLD the s:.me, together with the tenements, heredaaments and appur~ta- ances, unto the Association, in fee simple. :1nt1 the Mortgagors do hereby covenant with the Association that !hey are intlefeasit5ly seized of said land in Ice simple; that they have full power and lawful right to convey said land in fee simple as aforesaid; that it shall be lawful [or the Association at all times peaceably and quietly to enter upon, hold, occupy and enjoy said land; that said land is free from all encumbrances; that they will make such further assurances to perfect the fee simple title to ;,aid land in the Association as may reasonably be re- quired; and that they do hereby fully warrant the title to said land and will delend the same against the lawful claims of all persons whomsoever. PR01'IDED AL~VAI'S that if the Mortgagors shall ys•ell and truly pay unto the Association, the .`.`.`. irtdebtednes evidenced by that certain promissory note, of even date herewith, made by tae ;`Sortgagors and payable to the Association, in the principal stem of ........................................................................................ ...T1tBN.TY.-T~...TIi0II3ANIl...F1.YE-..HUIIDRED.-....-.. -_.-...-....-...-Dollars (;.23~.~C.O...(Y.3.....). which note, together with interest thereon as therein specified, is payable in monthly installments of R~..RR~~...~[:~~~~~.4~~i~t'-...-...-....-....-..-'--='---"----'....-....-...-Dollars (3:19.~~QQ on the..2Q.~.~I,..-.-.....day of each rhonth commencing with.......s1~JlRalfl.>['~...2Q.E'e'.ai...1.4.63 ....................'...: which payments 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, agree- ments, conditions and covenants of said promissory note and this mortgage, And, including any ad- vances made by the Association to the Dortgagors, or their successors in -title, for any purpose, at any time before the release and cancellation of chit mortgage, but at no time shall this mortgage secure ad• vances on account of said original note together with such additional advances in a sum in excess oE...-....... ...TYI(ENT3G-THREE...THOIIS,AFD.--FIY.L-.~"i]iTDRTD.T...,~...K....,r....~...,~.....Dollars (s-a-3,•',40.04.....), plus .any atk•ances necessary to protect the security and costs, then thi+ tlccd and the estate hereby created shall cease and be null and void. - -~ ~- - - -- A\'D T.HE i`IOR"TGAGORS DU hereby covenant and agrer. 1. '1'u pas all and singular the principal and interest and. other sums of money payable by virtue of said promissory note and this mortgage, or either, promptly nn the days rnlxuivcly the same severalty come due. 2.. To pa}' all and singular the !?xes, Assessments, levies, liabilities, obligations and encumbrances of every nature un uid described property each and every when due and payable actouling to law, before they become delinyutnt, and if the same shall not be promptly p:.id the Association may at an} time either before or after delinquency pay the same without rcaiving or affecting the option to foreclose, or any right hueunder,. and every pa}went so made shaft bear interest from the elate thereof at the talc of \inr per cent (9°~) per annum. 3. Tu keep the buildings and all equipment and perwnal pugrerty now or hereafter on raid remises covered by this mortgage, insured in a sum equal to at least the amount of the mortgage, or an amount sufftcirnt to comply with am co-imurance requirement covering the same under the (arcs of the State of Florida, covering loss from both fire and ~ stouu, making the loss under said policies, each and esery, FFra}able to the Association, as mortgagee, as its interest mar appear, and said insurance shall be in a good and reslwnsible insurance company satisfactoryy to said Associa- timr, and written by a responsible local agent ~atis[actor}' to said Association; and the polio}' ur policies shall bear a standard \erv fork mortgage clause r,ithout contribution, and shat! be hrld by the Aswciatiun, and, in the event any sum of money becomes pa}ably under such lxylicv ur Iwlicies, the .\ssociation shall hart the option to receive and apply the ume on account u( the indebtedness hereb} xcured, or to permit the mortgagors to receive and ux it, or any part thereof, for other purpoxs, without thcreb}' waiving ur impairing .rnv cyuit}'. lien, or right under and by virtue of this mprtgage, and ma}' place and pad for such iosura~ce, ur any part thereof. v+rthout r.aiving ur affecting Its option to [oreeiox. ur any right. hereunder, and each and every payment so made shall !xar interest from the date thereof at the r^te of Nine per tent i9~5~) Per annam, payable semi-annually. 9. "fo pamit. commit, or suffer no waste, impairment or deterioration of said property, or any part therrnf, and upon tree 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 imu~ediate tepa}meut ut the debt hereby secured. and the failwe of the mort- gagor to curnply with said demanet of the Association fur a period of Thirty (30) days, shall constitute a breach of this mort• gage. and, at the option of the .\ssociation, immediztely mature the entire amount of principal and interest hereby secured, and the Association, immttliately and without tlotice, nuy inuiuue proceedings to foreclose this mortgage and apply [or the appointment of a Rtteiver. as hcrrinafter provided. 5. -this nruttgage contract provides for additional adranccs which may Ix made at the option of the association and secwed by this mortgage, and it is agreed that in the event of such adsanccs the amount tray be added to the mort- gage debt and shall inn ease the unpaid balance of the note hereby sectued by the amount of such advance and shall he a part of said note indebtedness undrr all the terms of said rote and this contract as fully as if anew such note and contract scene executed and delivered. An adetitionaf advance agreement may be given And accepted for lush advance and provision mac !x made for different monthly payments and a different interest rate and other express modifications of the contract, h:u ir. all other respects this contrc[ shall remain in full force acrd effect as to said indebtedness. including all advances. 6. IE any of She sums of mone}• herein referred to be nut promptly and fully paid within Thirty (30) days next 2f ter the umr xserallc come due and payable, ur if Bath and even uu stipulations. agreenent, condiHoru, and wvenar.ts of said promissory note and this decd, or etch°~, are not duly performed, complied with and abided by, the aggregate sum men• boned in said promisor}' note and, any other account or amounts added to the ntartgage indebtedness under the terms of this mortgage shall become due and parable forthwith or tirerea[ter at the option of the Association, as fully and Completely as if said aggregate sum of money wa, originally ntipulatecl to lx paid on such day. anything in said promissory note or herein to the contrary noncirhstanding. 7. 'io ddi:er to the .-lssucia[ion, on or before March 15th, of each }car, tax rtxeipts evidencing the payment of aL' lawfully imposttt taxes for the preceding calendar )tar, to deliver to the Association receipts evidencing the payment of all tiros for public improvements withfn ninety (90) days after the same shall bctirome due and payable, and to pay or discharge within ninety (9t1) d_}-s after due date, any and all governmental levies that troy be made on the mortgaacd propert}•, on this mortgage or note, or in any other tray resulting from the mortgage indebtedness scented by this mortgage.