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HomeMy WebLinkAbout1691 at all times peace~ably and quietly to enter upc~n, hold, ocCUpy and cnjoy said l:ind; that said l:uid is fre~ from all encumbrances; that they will make such further assurances to perfect the fae aimple title to said land in the Association as may reusonably be required; and that they do hereby fully warrant the tide to said land and will defend the same against the lawful claims of all persons whomsoever, PROYIDED ALWA~S th:?t if the :~fortbagors shall weit and truly puy unto the Assbri.~tion, the indebtedness evidet~ced by that certain pramissary nate, oE even c~ate herewith, made by the Mortgagors anci payable to the Association, in the princi~yal ~um oE SIXTEEN THOj,iS~1V~ k'~~TE. HUNAR~D.AN.U NO~.1.Q0 lloll:~rs (S 16, 500. 00 ~vhich note, cogether ~~~th interest thereon as tht:rein s~cifiecl, is ~s:~y:?ble in monthly instalirnents ~yf . _ . 4NE HUNDRED NINETEEN AND NO .1Q0_ - . - Doltars . X 19R 00 . o?i the. 2~h day of each month cummencing ~~•;th ____..November..20~__1_965___ _.__H,hich payments are to be uppli~d, first to interest, and the balance to principal, untii said indebtedness is paid in full, and shall perform, comply with and abide by each and every the stipulatians, agreements, conditions and covenlnts af said promissory note and this mortgage, And, including any advances made by the Association to the Mortgagors, or their successors in title, for any pur~wse, at anv time before the rele~ase and rancellation oE this mortgage, bur at no time shall this rnortgage secure advances on account of saic3 orininal note toaether with such ~idditional adva~tces in a swn irz excess of.__SIX'TEEI~t_THOUSAND FIVE - - - HUNDRED AND NO 100 _ . . - - _ Dollars X6,_`JQQ.. QQ . plus any advances necessan• to protect the security and casts, then this deeci and the estate hereby erented shall cease and be nu11 and vaic~. ~ AIVD 'I'HE :~lORTGAGORS DO hereby covenant and agree: 1. To pay ull and singular the principal and interest and other sums of money payable by virtue of said promissorv notc ancl this mortga~e, or either, promptly on the days respectiveiy the same severatty come due, To pay all and singular the taxes, assessments, levies, Iiabilities, obligations and incurnbrances of every nature and kincl now on said d~cribed pruperty, or that hereafter may be im~rosed, sufFerecl, placed, levied, or nssessed thereon, or that hereafier ma}^ be levied nr assessed upon this ~iortgage, or the indebtedness securecl hereby, cach and every, when due and payable, accorclu~g to la~v, before they become delinquer_t, and before any interest attaehes or anv penalty ~is ineurred; and insofar ;is any thereof is of record the same sh:tll be promptly satisfied and ~3ischarged of record and the original official dacument (such as, for instance, the tzx receipt or the satisft?ction paper officiallv endorsed or certified) shall be placed in the hands o,f said Association as ~iortg:3yee tii~thin ten days next after payment; and in the event that any thereof is not paid, satisfied nnd dischargecl, said Association muy at an~• time pa~• tiie same or any part thereof ~vithout ~vaiving or affecting any option, lien, equih~ or right under or bv ~Zrtue of this ~iortgage, and the full amount oF each anci everv such payment shall he immediately due and pyayable and shall bear interest from the date thereoE nntil paid at the rate stated in the note securecl hereb~• and to~ekher ~vith sucR lilfPi- est shall he secured by the lien of ihis N1ort~age, ' 3. To keep the buildings and all equipment and personal pruperty no«• or hereafter on said premises covered by this mort~nge, insurecl in a sum equa! to at least the amount of the mortgage, or an amount sufficient Eo cc~mply with any ~o-insur- :ince requirement cavering the same under the laws of the State of Florida, covering loss from both fire and storm, making the loss under said policies, cach and every, p~yable to the Atsociation, .ts rnart~agee, as its interest mav appear, and said insurance shall he in a~;oocl and res~>onsible insurance company satisfactor~~ to said Association, and written ~by a responsible local agent satisfactory to said Association; and the polic}' or golicies shall bear a standard mortgage clause ~vithout contribufion, ~ j¢e~k~L~[9io[7~o~ and, in the event an}' sum ot money becomes payabie under such policy or policies, the Association shall i~ave the option to receive and apply Yhe same on acrount of the indebted;iess hereby secured, or to permit the mortgagors to reeeive anci use it, or any part thereof, for o.}:er purposes, without thereby wai~7ng or impairing any ec;uity, lien, or right under :uid by virtue of this murt;agc, and may place and pay for such insurance, or any part thereof, ~vithout waiving or affecting its option tu foreclose, or any right hereunder, and the full amaunt of euch and every such payznent shall be imrnediately due ancl ~7a}'able and shall bcar interest from the date thereof until paid at the rate stated in tr,e note secured herebv and to~ether with such interest shail be secured by the lien of !his Mortgage. ' To permit, cemmit, or suffer no ~vaste, impairment or deterioration oE said propert~~, or any part thereoE, and u~w~i tlie failure of tl:e mort;a~ors to keep the btiildingc on said pmperty in good condition of repair, the Assxiztion may demand the immediate rPpair of said bu;ldings or the immediate repayment of the debt hereby securecl, lnci the faiture of the mo*tgagors to cornpty with said demand of the Ass~iciation for a period of Thirty (30) d,iYS, shall constitute a breach of this mortga~e, and, at thc option of the Associakion, immediatelv mature the entire amount of principal and interest hereby secured, and the Association, immediately and without notiee, r~av institute proceedinRs r~ foreclose this mort~a~e and appl~~ for the appointment ~f a Itecei~~er, as hereinafter provi~le~l. ~ 5. This mortgage con#ract provicles for additional adv3nces w•hich may l~e maue at the option ~f the association and secured bv this mcrt7age, and it is agreed that in the event of such advances the amount may be adde<i to the rnortgage debt and shall increase ihe unpafd balance of fhe 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 noie and contract w•ere executecl and delivered, An additional advance a~reement ma~• be given and accepted for such advance arid provision ma~• be made for ciifferent rnonthl~- pa~~ments : nd a different interest rate and other express modifications c:f the contract, but in ~ll other respects ihis c~ntract sha)1 remain in full force and effect 85 to said indebtedness, incluciing all advances. s 6. If an~~ of the sums of mvney~herein referred to be not promrtly and fullv paid within Thirty {30) days nezt after the same severally eome due ~ncl payable, or if each and every the stipulations, aorcement, conditions, and covenants of said promissory note and this cieed, or either, are not duiy per#or.ned, romplied ~~ith and :~bided by, the aggregate sum mentioned in said promissory note and any other amount or amounts added to the mortgage indebtedness under the terms of this mortgage shall become due nnd paysble forthwith or thereafter at the ~ptian af the Association, as fully and completely as if said ag~regate sum oF money was originally stipulated to be paid on such day, amrthing in said promissory note or herein to the contrarv not- withstanding. - i. To dsliver to the As.saciation, on or Uefore ~Sarch l~th, of each y~e~r, tax raceip#s evidencing the payment c,f all la~ti~- fully imposed taxes for the preceding calendar ysar; to deliv~r to the Assoc:iation receipts evidencing the payment of all liens for public improvements within ninety ('9(2~ days after the same shall hecome due and payable, and to pay ar discharge within ninety (9p) da~~s after due date, any and all governmental Ievies that may be made on the mortgaged prr~rem~, on this mort~a~e or note, or in any other way resultin~ from the mortgage indebtedness secured bv this mort~a~e. aooK 129 492 .