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HomeMy WebLinkAbout1179 at all times pe.iceably and quietly to ec~ter upon, ho!d, cwrupy and etijuy sai~! l.tnd; that s:1id land is fre~ lrou~ all encumbrru~ces; thut thQy will make such further assurances ta perfect tho fee aimple title to said land in the Association as mav reasonsbly tx• required; and that they do hereby fully warrant the tide to said la~id und ~vill clefenri the samP a~;ainst the lawfu] claims oF .ill Ixrsons whomsoever. PROVIDED AL~t'AYS thut iE the ,tortgagurs ~hall well und truly p:+y iuito the :~ssimiation, thY iudebtecinrss evidence.d by that ceriain prornissory note, of even date herewith, made bv the \tortga~ors and pci~~.ible to the Associution, in the rriYx~ir.il sum of IVZNE_THOUSAND ONE HYINDRF.~D AND 1~IQi 100 lloll:irs (S 9i 100. 00 ~~•hsch note, togeth~r with interest t}?ereim as therein srecifieci, is payable in monthly inst:illments of ~48.9$ on July 1, 1965, and ~47. 40 on August 1, 1965, and. _ _ . SiXTY SEVEN f~ND NO/100 1~oll~rs ( 57.00 ~ - _ _ _ _ _ . _ : $ _ , on the 1 S~ duv of each month cvirimencing wsth _ _S~pt.embsr_1T_._l~&5.__.__._. which payments are to be .ipplied, fisst ~to interest, and the balance to princigai, until said indebtedness is paid ir~ full, and shall perfrnm, comply w~ith ancl 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 Assaciation to the Mort~agors, or their successors in title, for any purpose, at any time beEore the release and rancellaHon of this mortgage, but at na time siiali this mortguge secure advances on acrnurit of said o~i~inal note together with such additio~ial ac~vauces in a sum in excess of.___~N~_THOUSAND O1VE HUNDRED AND NO/100 _ pail„~ 100. 00 plvs anv advances ne~essa»• - - - - - _ - . ta.. g. . _ , to protect trie security and casts, then this deed and the estate hereb~~ createcl shall cease and Ue nul! and v~id. ~ Ai~'D THE \SORTGAGORS DO hereby cuvenant and agree: 1. To pay all and singular the pruicipal and interest and other sums of mone}' payable by virtue of said promissory rivt~ :~ncl this mortgage, vr either, prc~mptly on the days respectively the same sr:~•eraIly come due. To ~y all and singular the taxes, assessments, Ievies, liabilities, obligations and incumbrances of every nature and kind no~~~ c~ti s:11LI (IPS~ribed property, or that hereafter may be imposed, suffered, placed, levied, or lssessed thereon, or that hereafYer ma~- be tevied or assessed upon this ~7ortgage, or the indebtedness sec~ued hereby, each and everv, when due and FayaUle, accorciing to la~v, bef~re they become delinquent, arid before any interest attaches or <<m~ penalty is ineurred; and insofar ,is any thereof is of record the same si~all be promptly~ satisfieci and ciischargecl of record ancl the c~riginal offieial doeument (such as, for instanre, the tax receipt or the satisfaction raper officialh• endorsed or cerkifiecl) shall be placed in the hands of said :~ssociation as ~iort~a~ee ~+~thin ten clays next after payment; and in the event that any thereof is not pai~3, satisfied and dischargcd, said Association mav at am~ time pay the same or any part thereof ~vithout waiving or affecting any aption, lien, equih• or right under or by ~•irtue of this ~iortgage, and the fuIl amount of each and every silch payment sha11 be irrsmediately due and payahle and shali bear interest from the ~iate thereof until paid at the rate stated in the note sec•urecl hereb~• and to~ether ~~•ith sueh inter- esY shall be secured by the lien of ihis hlortgage, 3. To keep the buildings and all equipment and personai propcrty nc>~~• or hereafter on said premises covered bv this rnort~age, insure~l in a sum equa~ to at least the amounk of the mortgage, or an atnount stifficient to comply with any co-insiir- ance requirement co~~ering the same under the }a«~s of the State of Florid:~, covering loss fr~m both fire anc! storm, makin~ the I~~ss under s~icl poiicies, cach and e~~ery, payable to the rlssaciation, as rnortb4gee, as its interest mav appear, ancl said insurance s}iall he ui a hvocl and responsible insurance company satisfactory to said Association, and ~i~ritten ~by a responsible loral agent satisEactor.• to said Association; and the policy or policies shall bcar a standard mortgage clause without contribution, ~+i1~iF~~ ~i~c~q~~x9~CiFtIdDID[, and, in the event any sum of mc~ney becomes payai~le under such poliey ar policies, the Assneiation shall Ilil~'E th~ option to receivc~ and apply the same on account of the indebteclness heret~y secured, or to permit the mortgagors to recei~~e and usc it, or any part thereef, for ot~:er purposes, «•ithout thereby waiving or impairing ary equity, lien, or right under unci ~v ~•irtue <~f this mortga~c, and mav place and pav for such insurance, or anY part thereof, without waiving or affectin8 its ~~F~tion t~~ fureclose, or a~y rigl~t hereun~ler, and the full ,~mnunt of cach and ev~ry such pa~7nent shall be imme~iiately due and pay~able and shall bear interest from the date thereof until P~~id at the rate stated in the note secured herebv and tngether ~;~ith ~uch interest sh:i11 b? secured hy~ tlie lien oE this t'Iortgage. To permit, comrnit, or suffer na k•aste, impairment or deterioration of said properi}', or :iny part thereaf, and t?~wn t}xe failure of the mort~agors to keep the biiildings on said propPrty in good condition of renair, the Association may demand the immedi.ite re~air of said buildin;s or the immediate repayment of the debt heret~y sec;ured, ancl the failure ~f the mvrtgagors to eomply with saicl demand of the Assoeiafion for a~±ericxl of Thirty (30) days, shall eor~stitute 1 breaeh of this mortga~;e, and, at tt~c aptic~n of the r~ssociation, immediateh~ mature the entire arneunt of grincipal and interest herebv secured, and the ~lssociation, immediately and w•ithout notice, mav insriiu~e proccedinRS t~ fureclose this rnort~~ge and apph• for the ap~intment r,f a Recei~•er, as hereinafter provide~i. ~ This mort~age cantract provides for ll(~C~IflOil'<ll aclvan~~s ~ti~hich inay be macle at the option of the association ancl ~ecured by this mnrtgage, and it is agreed !hat in the event of such advances the amount may be addecl to the mortgage c3ebt and sha.t inerease the unpaid balar3ce of the r,ote hereby secured by ihe amount of such acivance and shall be a part af saicl note indebtedness under all the terms of said note and this contract as fully as if a new sueh note and e~ntract ~•sre executed :~nd ~lelivc:red. An adciitional ~ch~ance agreement may be given ancl accepted for such advance and provision may be mlde For <liffemnt monthl~• pa~~ments : nci a different ir-~terest rate and ather express moclif:cations of the cantract, but in all other res~?ects ~ ihis contract shall rema'ui in f~~ll force and F~FEec*. as tr, said indebtedness, including all advances. ' 6. If an~• of the sums of muney herein re;crred to t~ nat promp!ly ancl fully paid wvithin 'I'hirty (30} dav~ next after the same sererally c~me (Ill2 and payable, or if c~ach an3 every the sti~ulations, abreement, conclitio~s, and covenants of saicl ~ramissary note and this deecl, or either, are not duly performed, eomplied with and ~bided by, the aggregate sum mentioneci in said promissorv note and at~v other amount or amounts added ta the mortgage indebtedness under the terms of this mortgage shall become due r~nd pa~~lble forth~rith or thcreafter at the option of the Assa:i~ition, as fully and completely as if said aggregate sum of m~ney ~vas originally stipulated t~ be paid on such dav, anythin~ in said promissory note or herein to thc~ contrarv not- :vithstanc3ing, ~ To delirer to the Associatior, on or before Jiarch l:ith, ~f each }~e.~r, tax receipts evide.~icing the payment Of 1~I I1Vt'- full~• im~wsed tases for the ~recedin~ calendar year; to deliver to the Association receipts evidencing the ~nayment of all lieiis for public impro~•ements ~~~ithin ninety (9~} dlys after the same shail hecomc due and payable, and to pay or discharge within ninety (90} da~~s after dae date, an~~ and a11 governmentaI levies that may be made on the rnortgaved pro~-~erty, on thi~ mortgahe nr n~te, or in any other way r~siilting frnm the m~rtgage inc3ebtedness secured hv this mort~a~e. ao~x~.~~ ~J%'~ , . F.