HomeMy WebLinkAbout2628 And the said mortgagor, for itself and its heirs, do
covenant Nith the said nortgagees, their heirs and asslgns, that it
is well seized of said property, and has a gee~ right to convey the .
same and will Narrant, and by these prese~ts forever defend, the said
pre~ises unto the sai-d mortgagees, their heir~ and assig~s against
the laNful claims of all and every person or perso~s who~soever.
TNE FORE60IN6 CONVEYANCE is intended Lo be, and is, a
mortgage to secure the payment of a pro~issory note dated March 31,
1966, for the su~ of TWEHTY-THREE THOUSAND AND NO/100 DOLLARS (t23,000.00)
made by SANTA ROSA INNS, INC., a Florida corporatioa, payable to the
order of the said CARL T. HOFFMAk and ANNIE M. HOFFMAN, husband and
wife, the said mortgagees, Nith interest from March 1, 1968, until
paid at the rate of 6x per annum.
The mortgagor covena~ts that it will keep perfect and
unimpaired the security hereby given; that 1t will keep the improve-
ments upon said ~ortgage property insured for an amount of the value
acceptable for insurance, in an insurance co~pany, or insurance
companies, to be approved by the mortgagees, loss, if a~y, payable to
the said mortgagees as their interest may appear, until such note be
fully paid; that it Nill pay all taxes, assessments and charges Nhich
~ may or might become liens superior to that hereby created and that if
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~ such insurance be not procured or maintained, or such taxes, assessments
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~ and charges be not paid, the mortgagees may procure and maintain such _
~ insurance, and pay such taxes, assess~ents and charges; and the lien
~ hereby created shall extend to all such su~s.expended, with interest
at the rate of 6~ per annum.
The mortgagor agrees that the indebtedness covered by
this mortgage shall become immediately due and payable, a~d this
~ mortgage shall beco~e i~mediately forecloseable for all sums secured
~ hereby, of the said indebtedness, or any part thereof, or the said- ~
~ interest, or any installment thereof, shall not be pa ~l according to
~ the terms of the said note, or if the mortgagor shall omit the doing
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of anything herein required to be done for the protection of the
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aooK 164 Pac~ 2fi25
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