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HomeMy WebLinkAbout2428 ; . ` . at all timespea oeably aad quietly to eater upo~, bold, occupy and c~joy said laad; that said Lnd is firee from all encumbranoes; that~y wiII make such iv~the= auu~anoes Lo pafed tLs fes simple Htle to said laad in ihe As~o~.tiation as may reasoz~ably be requind; and tbat they do Leryby~ fully wartant the titlo ~ said land and wiU deEend the same against the lawf~l clauru of aU peisoru whomsoever. ~ , PROVIDED ALWAYS; tLat if the Mortgagors shaU well and tnily pAy unto thc Association, tbe indebtedness evide~oed by that certain pro~misso:y iwte, of evea cLM Leirowitb. mads by the MortgAgors and pay~ble to the Association, in the principal ~ ~zam~r-TSa~ a~ous~ ~ xo/ioo---------------------_ no~~~ ~~3:000.00 which note;'fngether with, i~,erest.~re~on as therein sPecIfied, ia payable in monthly installmenta,o~ _$UNDRED S~TYEatTY.-3DC._AND. F0~100.. OF _ _ 1~ ICH . ~2~1 ~ 00 IS __'1!Q _ .BT . _~I$3'.1'. __~Q...IN'~F~ST ---AeT_exnr_'1'0__PRINCIPAI,_AND--~12~,.Q~?._.'~4_.Jl.A__~~Q~I._ACCQII~.'__TQ---PAY.._1'~YF~S ~rrn n~svaaxcr------------------------------------------ ~i,~~ 376. oo c:- - ~ 20th y • g • March 20 1~62--- ~ on the-----...--.------------da of each month commencm with--------------------- ------------------M?~ P~Y°~~ are to be app1ied, first to interest, and the balance to principsl, until said indebtedness it paid in fiill, and sball perfoim, oo~ply with and ab'xle by each and every the stipulations, agreements, conditions and covenants of said promissory not~e and this morcga8e, And, including any advances made by the Association to the Mortgagors, or their succ~ssors in titk~, f~ any purpoae, at any time before tbe release and cancellation of this mortgage, but at no time shal! this mortgage secure advances on account of said o'' note together ~vith such additional advances in a sum in excess of_________.-•--- ~u~ ~s_3 3~00~_-~ plut any advanc~es necessary - - - , to protect the sec~vrity and costs, ther~ this deed and the estate hereby created shal) cease and be null and void. AND THE MORTGAGORS DO hereby cvvenaut and agree: 1. To nay all and singular the princapal and interest and other sums of money payable by virtue of said promissory note and tbis mortgage, or either. promptly on tbe days respec:tivelY the same seveially mme due. 2. To pay all and s~gular the tases, as~ments, levies, liabilities, obligations and incumbrances of every natare and ldnd now on said desc~ibed ~perty, or that hereafter may be imp~e~, sufEered, laced, levied. or asse.ssed thereoa, or that hereafter may be levied or asse.aed upon this Mo~tgage, or ffie indebtedness ~ hereby, cach and every, when due and prayable, according m law, before they beoome delinquent, and before any interest attaches or any penalty is incurred; and insofar as any thereof is of record the same shall be promptly ratisfied and discharged of reoord and the original of~icial document (such as, for instance, the taz receipt or the satisfaction paper oNicially endorsed or certified) shall be placed in the hands of said Association as Mortgagee within tea days next aker payment; and in the event that any thereof is not paid, satisfied s?nd discharged, said Association may at any time pay the, same or any part thereof ~rithout waiving or affecting any option~ lien, equity or ri ght under or by virtue of this !~iortgage, and the fuIl amount of each and every such payment shall be immediately due andpa yable and shall bear interest fmm the date thereof until paid at the rate stated in the note secured hereby and together with such inter- est shall be secured by tLe lien of this Mortgage. ~ 3. To keep the buildinga and all equipment and peisonal property now or hereafter on uid premisea covered by this mortgage. insured in a sum equal to at least the amount of the mortg+ge, or an amount :uffiaent to eomply nith any ao-imnrance iequire- ment aovering [he same under the laws oE ~6e Stace oE Florida, covering loas from both tire and :torm, makiag the las under said I policies, each and every. payable to the Association. u mortgagee, as its interat may appeat. and said insurante ahall be in a good i and responsiWe insunnce mmpany satisEactory to said Association, and written by a rapoasible local agent satis[actory to aaid Asso- ~ ciation; and the policq or policies shall bear a standard mortgage ciause without mntributioa. and, iE the original principal amount of the mongage is Fitqr Thousand and no/ 100 Dollars (=50.000.00) or in excess theteoE, shall be held by the Association, and, in ( the event any sum of money becomes payable under such policy or policies, the Association shall have the option to reoeire and applJr I che same on acaount of the indebeednas hereby secured, or w ptrmit the mottg~gots to receive and nse it, or any part thereof. tor other purposes, without thereby waiving or impairing any equity, lien, or right under and b' virtue of this mortgage. and may place and pay for such insurance, or any part thereof, ~vithout waiving or ai[ecting its option to forec3ox. or any right hereunder. and che full amount of each and every such payment shall be immediately due and payable and shall bear ineereat frnm the date thereof uncil paid at the rate sweed in che note secured hereby and cogether with such interat shall be secured by the lien of thia Mortgage. . Toperm~t, commit, or suffer no waste, impainnent or deterioration of said propert~~, or any part thereof, and npon 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 buildings or the immediate repayment of the debt hereby secured, and the failure of the mortgagors to complv ~vith said demand of the Association for a period of Thirty (30) days, shall constitute a breach of this mortgage, and, at t'hc option of the Association, immediately mature the entire amount of principal and interest hezeby secured, and tbe Association, immediately and without notice, may institute proceedin;s to foreclose this mortgage and apply for the appoinhnent of a Receiver, as hereroaker provided. 5. This mortgage contract pc~ovides for additional advances which may be made at the option of the association and secured by this mortgage, and it is agreed that in the event of such advances the aznount may be added to the mortgage debt and shall increase tLe unpaid balanoe of the 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 cwntract as fully as if a new such note and contraM w•ere executed and delivered. M additional advance agreement may be ~ven 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 respec~c ihis contrad shall remain in fuU force and effect as to said indebtedness; including all advances. 6. If any of tbe snms of money herein refeaed to be not promptly and fully paid within Th'vty (30) days ne:t after- the same severally come due and payable, or if each and every the stipulations, o°reement, rnnditions, and covenants of said promissory note and thig deed, or either, are not duly performed, complied with and abided by, ihe aggregate sum mentioned in said promissory note and any other amount or amounts added to tbe mortgage indebtedness under tl~e terms of this mortgage shall become due and payable forthwith or thcreafter a~ the option of the Association, as fully and completely as if said aggregate svm of money was originaUy stipulated to be paid on such day, anything in said promissory note or herein to the contrary not- ~vit}~standing. 7. To deliver to the Association, on or before March 15th. of each year, tax receipts evidencing the pnyment of all 1aa~- fully im~ taxes Eor the precerling calendar year; to deliver to the Association receipts evidencing the payment of all liens for pub ~mpmvements withim ninety (90) days after the same shall hecome due and payabk, aad to pay or discharge within ninety (90) davs aker due date, any and all govemmental k,wies that may be made on the mortgaged propecty, on this mortgage or note, or in any other way resulting from the mortgage indebtedness secured by this mortgage. - aaox 164 P;~2424 ~ . _ - ~ ; _ y' ~ ~ _ ' . . _ ~ - _ h b c ,.~~a.. ; _ ~z.~,.~;:E ' '