HomeMy WebLinkAbout2731 at eU times peacrably and quietly to enter upon, hald, oc~cupy and enjoy saici l:~nd; that s.zid lund is Erc~ from s~ll ~ncumbrancc.s;
that they will make such furiher assuranccs to parfect the fee dmple title to said land i~i the Association as mav reusonably bE•
rec~uired; and that they do herehy fully watrant the tide to saicl land and ~vill defend the same aigainst thr la~~•ful claims of
all l~ersons ~ti•homscever.
PROYIDED AL~VAYS that if the hloctgagurs shall well and truly ~uv tu~to the Association, thr indebtecin~ss evidenceci
by that certain promissory note, of even date horewith, made by the ~tortgagors and pa~•able to the Ass~x•iation, in the princi~~al
~um oE . . TEI~I THQUSAN]~ ~IGHT..HUNDR.EI7 AND' NOI~00 , , . , . . . Doll:Y~s 10, $00. 00
~vhich note, together with interesi thereon as therein specified, is Eh~~~able in monthly installments of
SEVFNTY-SEYFN.AND_3_9_/1Q0 _ Dollars (S 77. 39 . .
on the 211d _ . _ d~y of each month a>mmencing with . . . . ..~11i~11St._~~. .l~_~5.___. . . . . which payments
are to be :?pplied, first to interest, and the balanre 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 promissorv note and this
mo~tgage, And, including anY advances made by the Assaciation to the ~iortgagors, or their successors in tide, ~for any purpose,
at anv Hme before the rele~ase ancl rancellation of this mortgage, but at no time shatl this mortgage secure ndvances or~ account
of said orig~nal note together ~vith such additional advances in a sum in excess of._. ~'.EN_ THOU~ND__EIGHT,_._.___. _
HUNDREI? AND.NQI_100_ Dollars ~.0~.$00, QO pliu any adv~nces necess.nn~
;o protect the security and costs, then this cieecl and the estate hereb~• createcl shsll cease and be null and vQid.
AI~'D THE ~lORTGAGORS DO hereby cuvenant and agree:
1. Tn pay all and singular the principal and interest and other sums of money pa~~able by virhie of said prumissorv nt~te
:incl tnis mortgage, ur either, promptly on the days respectively the same severally come due.
To pay all and singular the taxes, assessrnents, levies, liabitities, obligations and incumbrances of ~very nature and kind
nrnv on saicl described prorerty, or that hereafter cnay be imposed, sufFered, placeci, levied, or assessed thereon, or that hereafter
ma~• be le~•ied or assessed upon this ~iortgage, or the indebtedness securecl hereby, each and everv, when due and pay~ble,
.+ccordi:~g to la~v, before they I>ecome cieiinquent, and before any interest attaches or .mv penalty is incurred; and iruofar as
any th~renf is of record the sam~ shall be promptly satisfieci and dischargecl of reeord and the ori~inal official document (sa~ch
1s, for ir~stance, the tax receipt or the satisEaction paper officially enclorsed or certified) shall be placed in the hands of sa~d
Associaticm as ~tortgagee ~tilthin ten davs next after payment; and in the event that any thereof is not paid, satisfied and disehargeci.
s~icl Association mav at any time pci~• the same or any part thereof ~vithout waiving or affectin~ any option, l~en, equih~ or right
imder or l~v ~•irtue of this ~lortg:ige, and the full amount of each and ev~ery such payment s}iail be immediatelv due and payahle
and shall bear anterest from the date thereof until paid at the rite staterl in the note sez•ure<i hereb~~ and toge±her ~vith such inter-
est sh~ll be secured by the lien of lhis :~fortgage,
3. To keep the builclings and all et~uipmez~t and personal prupertv no~v ~r hereafter on said premises eo~•erecl b~~ this
mortgage, insured in a sum equal to at least the amount of the mortgage, or an amount sufficient to cc~mply with any co-insur-
:ince requirement cov~ring the same under the laws of the State of Florida, coverina loss from both fire and storm, rnaking the
l~~ss under said ~licies, c.ich and e~•ery, pa~~able tc~ the Association, as morigagce, as its interest mav appear, und said insurance
shall be in z~ood and responsible insuranca company satisfactory to said Associatian, and written ~by a res[~onsible local agent
s„tisfactory to said ~lssaciation; and .he poliey or policies shall bear a standard rnortgage clause without contril>tition, ]c0i~csbl~~c
$~t~¢~lkrKlk3t~~, and; in the event any sum of money becomes paYable under such policy or ~olicies, the Association shall
l~ati•e the option to receivc~ 1?1(1 anply the same on account of the indebtech~ess hereb~~ secured, or to permit the mnrtaa~ors t~
rccei:~e and use it~, or any part thereof, for otl:er purposes, without thereby wai~zng or impairin~ am~ equity, lie~i, or right under
.~nd b~• ~~i:tue of thi. mort~a~e, and mav place and pav for such insurance, or anv Part thereof, ~~~ithout ~~•ai~'ing or affecting its
uption tu foreclose, or any right hereunder, and the full :~mount of each and e~~ery such pa}'Ii~ent shall be immediately due and
pa}•able at~d shall bcar interest frorn the date thereof until paid at the rate stated in tt~e note ,erured h,rebv and together ~o~ith
~uch interest sh;~ll be secured by the lien of this '~ioftgage.
To Permit, commit, or suffer no «<este, impairment or dcterioritinn of said propert}-, or any part thereof, a~~cl t~~~o~i
ti~e failuro c,f the mortgagors tu ~:eep the huildin~s on said propert}~ in good con:litic7n of repair, the Associatian mav demand the
immediatc re~~air oE said builclin~s or the immedinte repavment of the deb~ hereb~~ securcd, ancl the failurz af the mortgagors
to compl~• ~vith said demanti of the Associ:ition for a Periocl of Thirty (30) davs, shall constitute a breach of this Tnort~a~e,
and, at the c~I tic~n of the Assaciation, immediatelv m;rture the entir~ ~imoimt of principal and intrrest herebv secured, anci the
:lssociation, immediately and ~vithout notice, mav institute pmccerlin ~s tr~ foreclose this mort~a~e and appl~~ far the ap~intment
of a Rcrei~•er, ac hereinafter providecl.
This mort~age contract provides for a:lditic,nal advances w~hich mu}' be made ~et the uPtion ~~f the association and
secured by this mortgage; and it is agreed that in ihe event of such advances the amount may be added to the mortgage de~it
anc; chall increase the unpai~ balance af thp n~te hereby secured by the amount of such ailvahce and shall be a part oE saicl
note. indebtedness under all t~?P terms of said note and this contraet as fully as if ~ new such note and contract ~+-ere executecl
;incl ~lelivered. An additional advance a;reemenk rna~• be given and accepted for such advance ~nd provision mat• be made for
cliFferent mon#hlv pa~•ments <:ncl a c~ifEerent interest rate and other express modifications of the contract, but in all~other res~ects
~ ihis contract shall remain in full force and effect as to saici indebtedness, including all ad~~ances.
6. Tf am~ of the sums of muney herein referred to be nol promptly and fullv paid ~~•ithin Thirty (~:11 days nrrt afte~r
the same severnlly rnme due and pay~able, or if each and even~ the stipulatioi~s, aorrement, conditions, ancl covenants of saicl
promissury note ancl this deed, ar either, are noY duly ~erformed, complied with and abided by, ihe aggregate sum ~rrientioneci '
in said promissory note anci am~ other amaunt or amounts aclded to the murtgage indebtedness under the terms of this mortgage
shall become due and pa~~sble forthwith or thereafter at the option of the Assc~;.iation, as fully and completely as if said aggregatc~
sum of money ~~•as originally stipulaked to bE paid on such day. am~t}~ing in said promissory note or herein to the contrarv not-
~~•ithstanding.
To deli~•er to the Association, on or ~.~eiore '~tarch l~th, of each ~~ear, tax receiPts evidencing the payment of all l~i~`•-
fnlly im~sed taxes fc~r the Preceding calend;ir vear; to deliver to the Association receipts evidencing the payrnent of all liens
for publie improvements «•ithin ni~~ety (UG) davs after the same shall hc~ec~me c3ue and payable, a.nci to pay or discharge within
ninety (9(1) davs after due date, anti• and all go~'emmental levies that may be macie on the rnorta;~~ed pan~rtv, on this mort~a~F~
nr note, or in anJ~ other K•ay msultin~ frrnn tlif m~rtgage indebtedness secure<t };v this mort~a4;e~. ~
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