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Home My WebLink About1275 ~b~; 5& fAil 571 ST, LUCI[ CUNTY. rLA.' at all times peaceably and quietly to enter upon, hold, occupy and enJoy'sa'ld land; that s.lid land is free from all encumbranre1; that they will make such further ~ to perfect tM fee simple title to said lanc:~ in tIle Association as roay reasonably I.... rt"luin-d; and that they do hereby fully warnnt the title to laid land and wUl defend the same Ilgainsl the hl\..ful claims of all persons whomsoeve:-r. PROVIDED ALWAYS that if the Mortgagors shaH well and truly pay Wlto the Association, the indebtedncss {.vidclI(-ei1 by that certam promissory note, of even date herewith, made by the ,ttortgagors and paYJble to the:- Asmdation. in the princil',1! sum of,TEN.TlIQlJSANDSEVE~ lJVNP.~~Q. F~Ji'TYANP N0/100---:~.~"Oolhrs ($ 10,750,00 ). which note, together \\lth interest thereon as therein specified, Is ,payab.le in monthly installments of SEVENTY - EIGHT , . ,AND N"O/10()- ::--- ~ ~-:---:.-:.-.--:-: -.--:-:--:----:-:-:-.:--:-:-:-:,-:---:-":' :--:-:-:::-:- :--:-:.-:-:- -:--:-,-:--.-- -- - -- --- - - - ---- ~ .- - -:- - - --: - - -: -:--,-::: -:--:.:- :-,-:::-.:-.-:-::-~::--":'-: -:-,":',-:,-,-:-":'.-:.--- -- -- ---:--: - - - - -- - --- Dollars ($ 78,00 ). on the 5 ,. .. day of each month commencing with. .. '. ,....April5..1963, ....".. '.' ,..... .. which payments are to be applied, first to interest, and the balance te principal, until said indebtedness is paid in full, and shall perform, comply with and abide by each and every the stipulations, agreements, conditions and covenanls of saicl promissory note and this mortgage, And, including any advanl.-et made by the Association to the Mortgagors. or their successors in \itlc, for any purpose-. ,at any time before the rt'lea5e and cancellation of this mortgage, but at no time shall thi.~ mortgage st"Cure advances on a('('Ount of said original note together wilh mch additiunal advances in a sum in excess of.1'ENTHOV.S^NP..S.E'y~N I-!UN:- .DRE!) FlfTX.Al'll)NQ/J()P.::-:-:-.::-.:-:.':".:::-:.-:-:.-:-_,:.:-.:-:.:-.--- DoII~rs ($ 10,750.00). plus any advances necessary to protect the security. and costs, then this d~ and the estate he~by cre<lted shall ceaS{' and be null <lnd void. AND THE MORTGAGORS DO hereby C\.Iv~nant and 'lgree: 1. To pay JIll and singular the principal and interest and other sums of money payable by virtue of said promissory noll' and this mortgage, or either, promptly on the days respectively the same S{'verally come due. 2. To pay all and singular the taxes, assessmentJ, levies, liabilities, obligations and incumbrances of every nature and kind now on said de-scribed property, or that hereafter may be imposed, suffered, placed, levied, <..: <lsst'Ssed tr.ereon, or that hereafte-r may be levied or assessed upon this Mortgagt, or the indebtedness secured hereby. each and every, when due and payable. aecording to law, before they become delinquent, and before any interest attaches or any penalty is incurred; and insofar a~ any thereof is of record the same shall be promptly satisfied and discharged of record and the original official document (s\lch 3S. for instance. the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Association as ~fortgagee within ten days next after payment; and in the event that any thert"Of is not paid. satisfied and disch,uged. said Association may at any time pay the same or any part thereof without waiving or affecting any option. liell. equi'~' or right under or by virtue of this ~Iortgage, and the full amount of each and every such payment ~haIl he immediately due and payahle and shall bear interest from the date thereof until paid at the rate stated in the nolI.' sft'ured hereb~' :1'1(1 togethpr with s\lch inter. est shall he secured by the lien of ihis Mortgage. 3. To keep the buildings and all equipment and personal property now or herellfler on said premises covered by :hi~ mortgage, insured in a sum equal to at least the amount :>f the mortgage, or an amount sufficient to comply with any co.illSur- ance requircment covering the same under the laws of the State of Florida, covcring loss ff(\m both fire and storn. making the loss under said policies. each and every, payable to the Association. 0\5 mortgagee, as its intert'St may appear, ani:! said insurance sh:lll be in a good amI responsible insurance 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 clallSe without contribution. and shall be held bv lhe Association. and, in the event any sum of money hecomt'S p<lyable 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 pennit the mortgagors to receive and use it, or any p:lrt therrof, for otl:er purposes, without thereby waiving or impairing any ftluity, lien, or right uIlller and by virtue of thi~ 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 amowlt of each and every such payment shall be immc,<i'atcly clue and payable and shall bear interest from the date thereof until paid at the rate stated in the note secured hcreby and together with such interest shall be securf'd by the lien of ~his Mortgage. 4. To pennit, commit, or suffer no waste, impairment or deterioration of said property, or any part thereof. and upon the 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 buildinL i Ot the immediate repa)'ment of the debt hereby sccurftl. 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 the option of the Associal!:?~, immediately mature the entire amount of principal and interest hereby st"Cured, and the Association, immediately and without notice, may institute proccedin~s to fort"Close this mortgage and apply for the appointmcnl of a Receiver, as hereinafter providerl, .5, This mortgage contract provid"'!s for additional advances which may be made at the option of the as~ociation and secured by this mortgage, and it is agreed that in the event of such advances the amount may be addEc! to the mortgage debt and shall increase the W1paid balance of the note hereby secured by the amoW1t of such advance and shall be a part of said note indebtedness under all the terms of said note and this contract lIS fully as if a new such note and contract were executc<l 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 interest rate and other express modifications of the contract, but in all other respects this contr:lct shall remain in full force and effect as to said indebtedness, including all advances. . , 6. If a~y of the silms of money herein referred to be not promptly and fully paid within Thirty (30) days next after the same severally come due and payable, or if each and every the stipulatiom, agreement, conditions, and covenants of said promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentionc<\ in said promissory note and any other amOW1f or amoW1ts added to the mortgage indebtedness W1der the tenns of thh mortgage shall become due and payable forthwith or thereafter at the option of the Association, as fully arid completely as if said aggregate sum of money was originally stipulated to be paid on such day, an)1hing 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 rlX'eipts evidencin~ the- payment of all law- fully imposed tUXeS for the preceding calendar year; to deliver to the Association nx.'eipts evidencing the payment of all liens for public improvements within ninety (90) day. after the same !haU become due and payable, and to payor discharge within ninety (90) da)'3 after due date, any and all govemmentallevies that may be made on the mortgaged property, on this mortgagl or note, or in any other way resulting from the mortgage Indebtedness secured by this mortgage. '" Q \: \ o