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Home My WebLink About2571 ~ . ~ . ~ ; at all timespe~ceably and quiedy to enter upon, hold. occupy and enjoy said lund; that sAid land is free from aU encumbrances; ~ that they will make such further auuranoes t~ Perf°ct d?e fee dmple titla to said land in the Association as may reasonably be ~ rec~uired; and that they do hereby fully warrant tha title to said lund and ~vill defead the sAme against the Inwful claims of ~ all persons whomsoever. PROVIDED AL~YAYS thut if the Mortgagors shall weA and truly pay unto the Association, the indebtedness evidence~ i by that ceitain promissory noce, of even date berewitb, made by the Mortgagors and payable to the Association, i~ the principal ~ 00. 00 sum of 'rEN_THOUSAND_AND NO/ 100-------------_--------------- . Dollars (a 10'-~ ~ .ti~hich note, together with interest thereon as therein specified, is pay:?b1e in monthly instaliments of ONE HUNDRED ~ THREE AND NO/100 - - - - ~ - - ~ t - - - - - - - - - - - - - - - - . - _ - - - - ~ - - - - - no113rs (3 -103. 00 ~ - - - on the- ----1 St -----day of each month commencing with__ JL1Tle_-1-'---1968 ----------------------------------------------which payments are to be upplied, first to interest, and the balance tu principal, until said indebtedness is paid in full, and shall perform, oomply .vith and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and th~s mortgage, Md, including any advances made by the Association to the Mortgagors, or their suoceswrs i~. tide, for any purpoae> at anv time before the release and cancellation of this mortgage, but at no time shall thic mortgage secure advances on account of said original note together ~vith such additional advances in a sum in excess oE___T.E~I_.THQII~.A..N~_~NI2________.._.._ NOI100----------------------------------- 10, 000._00 ances n , Dollars (a----_ plus any adv ecessarv to protect the security snd costs, then this deed and ihe estate hereby created shall cease and be null and void. AND THE I?iORTGAGORS DO hereby cvvenant and agree: 1. To pay all and singular the principa1 and interest and other sums of money payabk by virtue of said promissorv note .?ncl this mortgage, or either, promptly on the days respecti~•ely the ~ame severally rnme dne, ~ ~ 2. To pay all and singular the taaes, asses~nents, levies.liabilities. obligations and incambrances of every nature anc~ kind 4 now on said described property, ar that hereafter may be impc~sed, sufEered, placed, levied, or assessed ihereon, or that hereafter ~ may be levied or assessed upon this Mortgage, or tbe indebtedness secured hereby, cach and every, when due and payable, :,cconling to law, before they bec.~ome delinquent, and before any interest attaches or any penalty is incurred; and insofaz as : .?ny thereof is of record the same s1~all be prompdy satisfied and discharged of record :nd the original official document (such r as, for insiance, the tau receipt or the satisfaction paper officiaUy endorsed or ceriified) shall be placed in the hands of said ~ :~ssociation as ~tortgagee within ten days next after paymert; and in the event that any thereof is not [raid, satisfied und discharged, ~ said Association may at any time pay ihe same or any part thereof ~vithout waiving or affecting any option, lien, equih~ or right = i~nder or by virtue of this ~iortgage, and the full amount of each and every such payment shall be immecliately due andpa yabte ~ and shall bear interest from the date thereof until paid at the rate stated in the note secured hereb}• and together ~vith such inter- est shall be secured by the lien of ihis Mortgage. . 3. To keep the buildings and all equipment and pe~sonal property now or hertafter on said premises rnvered by this mortgage. ? insured in a sum equal to at least the amount oE the mongage, or an amount sutticient to mmply with any co-insurance require- ~ ment mvering the same under the laws of the State of Florida, rnvering loss Erom both fire and storm. making the loas under said i policies, each and every, payable co the Association, as mortgagee. a~ its interest may appear. and said insurance shall be in a good ' and responsible insurance company satisfattory to said Association, and written by a responsible local agent satisfaccory to said Asso- ~ ciation; and the policy or policies shall bear a standard mortgage clause without mntribution. and, if the original principal amount ; ; of the mottgage is Fifty Thousand and no/100 Dollars (s50.000.00) or in excess thereof. shall be held by the Asso~ciation, and, in ~ the event any sum of m~ney becomes payable under such policy or policies, the Association shaU have the option to receive and applr ; che same on account of the indebtedness hereby secured, or to permit the mongagois to receive and use it, or any part thereof, for j other purposes, withaut thereby waiving or impairing any equity, lien, or right under and by virtue oE this mortgage, and may ~ place and pay tor such insurance. or any pan thereot, without waiving or atfecting its option to foreclose, or any right hereunder, ~ and the full amount of each and every such payment shall be immediately due and payable and shall bear interest from the date ~ chereof until paid ac the race stated in the noce secured hereby and cogether with such interest shall be secured by the lien of this ~ lfortgage. To permit, commit, or suffer no waste, impairment or deterioration of s:iid propert}•, or any part thereo~; and upon ~ / 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 s:ud buildings or the immediate repayment of the debt hereby secured, and the failure of the mortgagors to co~ply ~vith said demand of the Assockltion for a period of Thirty (30) days, shall constitute a breach of this mortgage, and, at thc option of the Association, immediately mature the entire amount of principal and interest hereby secured, and the Association, immediately and without riotice, may institute proceedin;s to foreclose this mortgage and app1~• for the appointr~ent of a Receiver, as hereinafter provided. ~ ~ 5. This mortgage contraet provides for additional advances K~hich 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 amount may be added to the mortgage debt ~ and shaU increase the uniraid balance of the note hereby secured by the amount of such ad~~ance 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 note and contract w•ere executecl ~ ~?nd delivered. M additional advance agreement may be given 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 contr:ict shall remain in full force and effect as to said indebtedness, inclUding all advances. ~ 8. If any of the s~uns of money herein referred to be not prompdy and fully paid within Thirty (30) days next after ~ the same severally come due and payable, or if each and every the stipulations, agreement, conditions, and covenants of said ~ promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned ~ in said promissory note and any other amount or amounts added to the mortgage indebtedness under ihe terms of this mortgage ~ shall become due and pay~ble forthwith or thereafter at the option of the Association, as fully and completely as if said aggregate ~ sum of money was originally stipulated to be paid on such day, anything in said promissory note or herein to the contrarv not- ~ .vithstanding. ~ ~ 7. To deliver to the Association, on or beiore :liarch l~th, of each year, tax receipts evidencing the payment of all )a~•- fully im~ taxes for the preceding calendar year; M deliver to the Association receipts evidencing the payment of all liens ~ for pub 'c improvements w~thin ninety (90) days aker the same shall hecome due and payable, and to pay or discharge within - ~ ninety (90) davs after due date, any and all governmental levies that may be made on the mortgaged properly, on this mortgage nr note, or in any other way resulting from the mortgage indebtedness secured by this mortgage. ~ ~ i ~ dooK 1?~. ~~E 2565 ~ . , - - - - 's`. - ~ ~ ~