HomeMy WebLinkAbout2241 at all times fxr.u~abh• and quietly to en?er u~wn, hul<l, ~xrupy urid enj~~v said I:incl; that suid land is frt~ from al1 rnrumbrr~nces;
tl,at they will make such further assurances to pesfect the fee aimple title to said land in the Association as mav reasonably tx~
required; and that they do hereby fully warrant the tide to saici lancl and ~aill defend the same ~~gainst the la~~~ful claims oF
all ~x•nons ~~•humsoe~~er.
PHO\'IDED AL~~'.~~'S that if thr ~lurt~~i~urs ~hall well :uid trLil~~ pay ui~to the ~lssix•i.ition, thr ii~~lrbtedness c•~•idencecl
by that certain promissory note, of even date herewith, made bv the '~lortgagors xnd jxi~:~bl~ to the Rsscx•iatiou, in the Princi~~al
suin of SEVEN THOUSAND FIVE HUNDRED.AI~TD 1V0/100_----------Doll:~rs (S 7~ 500.00
~vhich note, to~;e!her ~~•ith interest therc~on as therein sC~ecified, is j~u~:ible i~~ monthly~ instalhnents of
_ .
. ~ 58. 0 ~
FIFTY EIGHT ANll NO/ 100 Doliars ( ~ .
on the l~h duy of each month cummencing ~.~~ch _December,_ 1.0, _1965--- w~hich payments
are to be :~pplied, first to interest, and the baliillCe to principal, ~u~tii said indebtedness is paid in full, and shall perform, comply
~~•ith nnd abide by euch and every the siipulations, agreements, COI1Ul~lOt1S and co~~enants of said promissorv note and t?iis
mortga~e, And, including any advances made by the Association to the \iort~agors, or their successors in titlr, for any purpose,
at am• time before the release and cancellation of this mortgage, but at no time sh~ll this mortguge secure advances on account
~ SEVEN THOUSAND FIVE
of said c~ri'inal note together ~~~ith such udditional advances isi a sum in excess of -
HUNDRED AND NO/lOQ ------`-------~~'r_ llollars 7~ 500. 00 ~~~us anv ~dvances necessan•
~ - - - -
_ _ - - - •
to protect the ;ecurity and costs, then this deecl and the estate hereb~~ create~cl sh:~ll cease anci be null and void.
A\D THE J10RTGAGOAS DO hereby cuvenant and a~ree:
1. To pay all and singular the principal and interest and other sums of money payable bv virtue of said promissc,ry note
.incl this mortgage, or either, promptly on the davs respectively the same severally cume due.
To pay all and singular the taxes, assessments, levies, liabilities, obli~atians and incumbrances of ever~~ nature and kincl
nu~~~ on said d~scribed property, or that hereafter .nay be imposed, sufEered, placecl, levied, or zssessed thereon, or that hereafter
ma~~ be lc~•ied or assessed upon this 1lortgage, or the indebtedness secured hereby, ca~h and e~~erv, ~~~hen due and pa~~able,
:,ccorclu~~ to la~~~, before they i~ecome clelinquent, and before anv interest attaches ~r unv penalty is ineurreci; and insofar as
anv thereof is of record the same shall be promptly satisfieci anci disth:ugecl of r~cord and the original offic~al clocvment (such
as, for instance, the tax receipt or the satisEaction PaPer officialh~ enclorsed ~r certiEied) shall be placed in the hands of saici
Association as ~tort~agee ~izthin ten davs next after pa~~ment; and in the event that any thereof is not paici, satisfied ancl dischargecl,
sr_icl Association ma~~ at any time pat~ the same or any p3rt thereaf without ~vaivin~ or afFecting any uption, lien, ec~uih• or ri~ht
under or b~• ~~irtue of this ~iortgage, and the full amount of euch and every such payment shall be immediatelv due and pavahle
and shall bear interest from the date thereof until paid ut the r.ite stated in ihe note sec•ured hereb~• and to~ethPr ~vith cuch inter-
est shall be secured by the lien of ihis Liortcage.
3. To keep the buildings and all equipment and personal property now or hereatter on said premises covered by this mortgage,
insured in a sum eyual to at least the amount of the mortgage, or an amount sufEicient to comply with any cainsurance reyuire-
ment co~~ering the s~me under the laws oE the State of Elorida, co~~ering loss [rom both fire and storm, making the lo~.s under said
F.~olicies, each and e~ery, payable to the Association. as martgagee, a~ its interest may appear, and said insurance shall be in a goai
and responsible insurance company satisfactor}• co said .~ssociation, and w•ritten by a responsible local agent satisfactory to said Assa
ciatior~: and the policy or policies shall bear a standard mortgage clause w•ithout contribution, and, if the originai principal amount
oF the rnortKa};e is Fifty~ "I'housand and noi IQ11 Uollars (~50,000.0O) or in ezcess thereof, shall he held by the Association, and, in
the ~~~ent any sum oE money becomes payable under such poliry or policies, the Association shall have the option to receive and apply
the same on account oE [he indebted?iess hereb~~ secured, or to permit the mortgagurs to receive and use it, or any part thereoE, for
other purposrs, w•ithout chereby w~ai~~ing ~r impairitig any eyuity, lien. ur righc under and by virtue of this mortgage, and may
place and pa}' [or such insurance, or any part thereof, without waivinK or afEecting its option to foreclose, or any right hereunder,
and the full amount of each and e~•er}• such pa}ment shall be immecli:ucl}• due and ~ayable and shall bear interest Erom the date
thereof until paid at the r.~te stated in the note sewred hereby and together with such interesi shall be secured by the lien of this
'~fortgage.
4, To permit, commit, or suffer n.~ waste, impairment or cleterioration of s.~id propert}•, or any part thereof, and u~n
tlie failure of the mortragors to keep the builclin~s on said propert~~ iii gc,od condition of repa'u, the Association mav demand the
immedi.ite rej~~;r oE said huildin~s or the immediate repa«nent of the debt hereb~~ secured, ancl the failure of the rnortgagors
to comph~ ~ti•ith sai~l demand of the Association for a reriod of Thirty {30) ciays; shall constitute a breach of this rnortga~e,
and, at the option of the Association, immediateh• rn:.~ture the entire ameunt of principal anci interest herebv secured, and the
.aseociation, immediately and «~ithaut notice, mav institute proccerlin~s t~~ foreclase this mort~a~e and apph• for the appointment
~f ~ f~ecei~•er, as hereinafter providecl.
This mort~age contrc~ct Provides for additional advances ~~hich *nav be made at the cption oE the association and
recured bv this n~ort;age, and it is agree~ that ira the event of such advances the amow~t may be added to the mortga~e clebt
and shall increase the unpaid balaiice of the note hereby seeured by the amount of sueh a~vanee and shall be a part of saicl
note indebtedness under all the terrns oE saici note and this contract as fully as if a new such note and contract «~ere executed
uncl rteli~-ered. An additional ~dti~anec agreement ma~• be given anc1. acceptec3 Eor such advance and provisian ma~• be ziade fur
~ rlifferent monthl~~ pa~ments ~ nd a difEerent interest rate ancl other e~press modifications ot` the contrac,, but in all~other re;pects
~ this contraet sh.ill reinairi in full fUrce and eEfect as to said indebtedness, including ail ldvances,
6. If am~ of the sums of muney herein referted to be nol promptlY and fulh~ paid within Thirty (30) days next after
.he sarne severalh~ come d!~e ancl payable, or if each and every the stipul~itions, a~rcement, conditiors, and covenants of saicl
promissary note anc? this deed, or aither, are not duly pe*.~formed, complied with and abided by, the aggregate si~m mentioneci
in said pmmissory ~iote an<l anv other amovnt or amounts added to the mcrtgage indebtedness under the terms of this mortgage
shall become due and pa~•lble forthwith or thcreaEter at the option af ehe Association, as ~ully and completely as if said ag;;regate
sum of money ~vas originally stiptilated to be paid on stich dav, an~~thing in said promissory note or herein to the contrarv not-
withstanding,
To deli~~er to the Association, on or before '.lfarch lith, of ea~h ~•ear, tas receipts ev='dencing the payment of all la~s-
fully imposec3 taxes for the ~~recedin~ calend;ir vear; to deliver to th~ Association receipts evidencing the payznent of all liens
for public improvements ~vithin ninety (90) days after the same shall hecome due and payable, and to pay or discharge within
ninety (90) da~~s :~fter due date, an~~ and r~ll governmental levies that may be made on the mort~aged pr~~Perri~, on this mort~a^c~
or n~~te, or in a~~i~ other ~vay restilting from the mortga~e indebtedness secured bv this mortKaQe.
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