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HomeMy WebLinkAbout0345 . • ~ . , , at all timespeaoe~bly and quietly to entet upoa, hold, oocupy and enjoy said lund; that said land is free from s11 encumbrano~t: that they wiD make such f~acthat assv~ranoes ~ pecfed tLe fee dmple tide to said ]and in the Association as may reasonably be required; and that thby do hereby fully wariant the Htle to said land aad will defead the same against the lawful claims of aU persons whomsoever. PROVIDED ALWAYS that if the 11lortgagors shall well and wly pay unto the Association, the indebtedness evidenced by that certain promissory note, of eeea date b~ewit~, made by tbe rtortgagors and payable to the Association, in the principat s~un of _EIGHT_TFIOUSAI~ID_AND_NQL__1.00----~_---.-. :---_--_------------nollars 8,.000._00 which not~ together with interest thereon us therein srecifiecl, is pi?yable in mot~thll? installments of. $EVENTY•TWO . AND NO/100-------------------------•-----------_---_-_----_---.---_----.-.---,----_---_- _ - ~ -----------~nollars (s.72. 00-- - on ihe----2?:~a-----------day of each month commencing with-----w~t~~~2_~~ 2a---~?~~$_--------_.___-------------_which payments are M be npplied, fitst to interest, and the balance to principal, until said indebtedness is paid ia fuU, and sball pecfo~, oomgly with and abide by each and every the stipu]ations, agreements, conditions and covenants of said promi~sory note and th~s mortSaBe, Md, including any advances made by tbe Association to the Modgagors, or t6eir successors in titiC, for anY Puq~ose~ at any time before ihe release and cancellation of this mortgage, but at no time shall this mortgage secure advances on account of said originul note together wfth sudi additional advances in a sum in ezcess of__EI~~'__ T$Q~I~A~Q _~Q-~~ 00 n/~ n , ~r~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ll'S ~ ~ Y1fQ~~lQ-- ~ PIILS BR~I BdVflM.`@S necessarv ~ ' ' - - •-~'~'~"'_"_'~-'-~'----A~-"~~----------- 1 s " to protect tl~e secarity and costs, theri tbis deed and the estate hereby c~reeated shall cease and be null and void. ~ i AND THE MORTGAGORS DO hereby cvvenant and agree: 1. To pay all and singular the princa'pal and interest and other sums of money payable by virtue of said promissory note and this mortgage. or either, promptly on the days respectively the same severally come due. 2. To pay aIl and singular the taues, as~ssments, levies, liabilities, obligations and incumbrances of every nahue and Idnd now on said desrribed property, or that hereafter may be imp~s~ , suffered, placed, levied, or assessed thereon, or that hereaker may be levied or ass~tsed upon this M~tgage, or the indebtedness securecl hereby, cach and every, when due and payable, :~ccording to 1nw, before they beoome delinquent, and ~efore any interest attaches or any penalty is incumed; and insofar as any thereof is of record the same shall be promptly satisfied and discharged of record and ihe original off'icial document (such ~s, for instance, the taa receipt or the satisfaction paper officially endorsed or eettified) shatl b~ placed in ihe hands of said Association as ~lortgagee within ten days nert aker payment; and in the event that any thereof is not paid, satisfied and discharged, said Association may at any tirae pay ihe same or any part thereof without waiving or affecting any option, lien, equity or right imder or by,~~rtue of this ~~ortgage, and the fiill amount of each and every such payment shall be immediately due andpa yable and shall bear interest frqm the date thereof unt~ paid-at the rate stated in the note secored hereb} ~?d together with such inter- est shall be secured by the lien of ihis Mortgage. : 3. To teep the buildings and all equipment and peisonal property now on c~reafter on said premiaa oovered by this mortgage. insured in a sum equal to at least the amount of the mortgage. or an amount sufficient to rnmply with any to-insurance tequire- ment mvering the same under the larvs oE che Scate of Florida. mvering loss ~[rom both fire and storm. making the loas under said i, s policies, each and every, payable W the Asaociation, u mortgagce. as its inter~st may appear. and sald insurance shall be in a good and responsible insurance company satitEactory to said Association, aad written by a responaible local agent satisfactory to said Asso- ciation; and the policy or policia shall bear a startdard mongage dause without contribution, and. if the original prinapal amounc o[ the mongage is Fifty Thousand and no/l00 Dollars (550,000.00) or in access thereof. shall be held by the Association, and, in che event any wm of muney becomes payable under such policy or policies, ehe Association shall have d~e option to receive and apply che same on acoount of the indebtedneas hereby secured. or to permit the morcgagun to receive and use it, or any part chereof. for other purpoaes, without thereby waiving or impairing any equity, lien, or n"ght under and by virtue of this mortgage. and may place and pay for such iaaurance, or anr part thereof, without waiving or affecting its option to foreclose, or any tigfit hertunder, and the [ull amount of each and every such payment shall be immediately due and parable and shall bear interest Erom the date ehereof until paid at the race stated in the noce secured hereby and together with such interat s6all be secured by the lien oE this 1liortgige. 4. To permit, commit, or svffer no waste, impairment or deterioration of said property~, or..:u~y part thereof, and upon ' the failuro of the mortgagors to keep the buildings on said pmperty in good condition of repair, the Association may demand the immediate repair oE s:ud buildings or the immediate repayment of the debt hereby secured, and the failure of the mortgagors to rnmply ~vith said demand of ihe Association for a period of Thidy (30) days, shall constitute a breach of this modgage, and, at the option of the Association, immediately mature the entire amount of principal and interest herebv secured, and the Association, immediately and without notice, may institute proceedinos to foreclose this mortgage and apph~ ~or the appointment of a Receiver, as hereinaker provided. i 5. Thu mortgage contract provides for additional advances which may be made at the option of the association ancl secw+ed by this mortgage, and it is agreed that in the event of such advar?ces the amount may be added to the mortgage debt and shall increase the unpaid balance of the note hereby secured by the amount of such advanre and shall be a part of said note indebtedness under all the terms of said note and this coniract as fully as if a new such note and contract w~ere executed and deliverecl. M additional advancc agreement may be given and accepted for such advance and provision may be made for ciifferer?t mont6lv pa,vments und a different interest rate and other eYpress modifications of the contraM, but in all other respects ; ~his contrad shall remain in full force and effect as to said "u~debtedness, including ull advances. ~ 6. If any of the sums of maney herein referred to be not promptly and fully paid within Thirty (30) days next after ~ the same severally come due and payable, or if each and every the stipulations, agrcement, conditions, and rovenants of sai<I ~ promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned in said peomissay note and anv other amount or amounts added to the morigage indebtedness under the terms oE thu mortgage ; shall be~ome due a~d pay~ble forthwith o~ thcreaEter at the option of the Association, u 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- withstanding. . i. To deliver M the Association, on or lreforo ~iarch 13th, of each year, tax receipts evidencing the p4yment uf all laN~- fnily imposed taxes for the prececiing calendar year; to deliver to the Association receipts evidencing the psyment of all liens for public imp~ovements within ninety (90) days after the same shall hecome due and payabk, and to pay or discharge within ninety (90) daya aftef due date, any and all govemmeatal levies that may be made on the mortgagcd ~operty, on this mortRage nr note, a in any other way resulting from the mwtgage indebtedness secured by this mortgaRp. ~ ; ~po~ i~ I~f ~ ' .