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Home My WebLink About1050 . i t 1 ',+.,t : J at aIl timespea~eably aad Quietty to enCer upon. hold, ooc.~upy and enjoy satd land; that said land is free from all encumbtanoes; thatt~y w~II make such fucthec au~an~s m pecled tbs fes dmple dtls to said land in tbe Atsociatioa as ma :+eaaa~aWy be u~ requ~red; and d~at they do hereby fu11y wu~ant d~e title ~u aid land and wiU defmd the sanne against the wful clauns of all pe~sons whomsoever. PROVIDED Ai.WAYS tlwt if tbe Mrtgagors shall well and tnilY P~Y a°t° t~'° Ass°','istio~a, th° i~'debtedne~ e`rld°~°°a by that certaia peom}tsory aae, of evea d+atep TiecewitL. m+?ds by the Mortgagors and psyable to the Associatioa, un the principal ~ - sum o~ TWENTY ^FIVE_THO~SAND and NO/100 ---------.Dollars 25,_000, 00. which aot~ together with iaterest ti~eceon as therein specified, is payable in matLhlY iiistallmenb of------ _ _____~150t_69_.due September_5L_.1968,_.~145, 83.due_October 5,._ 1968__end_then___ _ _ - - ONE AUNDRED IvINETY-FOUR_and_NOj100_ - - - _.Do11~s 194 00 ` November 5, 1968 on tl~-------~~__day of each maath comme~?cing with----------------- _ ______~which p4yments are to be upplied, fi~st to iat~, and the ba]anae to p~indpal, until said indebtedness ia paid in full, and sbaD pe:fo~, with and abide by each and every thest~pulaao~s, ag~~aements, o~ditions and covenants of said Ixom~ssoty no~e and mortgage~ Md, induding any advances made by the Associatioa to the Mortgagors, ar their anoceasoca in titln. for any p~npos$, at any time before the release and canoellation of thic matgage, buc at no time shall this mortgage secure advanoes an accwmt of said original note together with such addiNonal advances in u sum in ezcess of~~~Y-T+`iVF. 'THOUS ND ~a xo ioo z~ oQo~o4 p1,~ ~ aa,?~ ---------Dollars (i----- Y *Y to protect ±he security and costs, tl~en this deed and ihe estate hereby aeated shall cease and be null and v~oid. ~ AND THE MORTGAGORS DO hereby cuvenant and agree: ~ 1. To pay all and singuiar t1~e p~inci'gal and intez+est and other sums of money gayable by virtue of said promiaory notc ; and this moitgage. or either, promptly an the days respecEivelY the same severally oome due. ' ! 2. To pay all and aimgular the taues, asseasmenb, levies, liabilities, obligations and incumbrances of every nature and kind j now on said described poperty, or that hereafter may be im~, sufEeced. ,~laoed, le~'i~l. or as~ed thereon, or that hereafter ~ ma be levied ~ asse~ed this M ar the ind ess sec~rea hereby, cach and e~~ery, whea due and p~yable, , ao ording to law. before th~beoome de~L'nq~uent, and before any interest attaches or anypen alty is u~cumed; and insofar as i any thereof it af record the same shall 6e promptly satisfied and discharged of record and the original official document (such = as, for instance, ihe taz reoeipt or the satisfaction paper officially endorsed or ceitified) shall be placed in the hands of said Association as Mortgagee withm ten days nert after payment; and in the event that any ihez+eof is not paid, satished and discharged, said Association may at any time pay the same or any part thereof without waiving or affecting any option, lien, equity or ri t under oar by virh~e of tbis !~iortgage, and the full amount of each and every such payment shall be immediately due andpa ya le and shall bear interest from the date thereof until paid at the rate stated in the note securecl hereby and together with such inter- est sha11 be seciu~ed by tLe lien of this Moztgage. ~ 3. To keep the buildings and all equipment and peisoual property now or harafter on uid premi~ oovered by thi: mortgage, insurcd ia a sum cqual to at least the amount oE the mortgage. or an amount sufficient to comply with aay o~insurance rcquir~- i I~j meat o~vering the same undrr the laws of che Suce of Florida. oovering loss frnm both fire aad scorm, making the laa under wd poliaes. each and every. piyable w the Associacion. as murcgagce. u iu interest may appear. aad said iniuranoe shall be ia a good and respon:iWe inaurance company sacisfaccory to said Assoriztion. and written by a respon~ible loul agent satisfactory to said Asso- ciatioa; and the policy or policia shall beu a standard morcgage .dause without oontribytion. and. iE the origiaal priucipal amount of the mortgage is FiEcy Tho~nand and no/100 Dollus (~50.000.00) or in acceas thrteof. shall be held by the Association. and, ia the event any sum of muney beaoma paya6le undtr such policy or poliaes, the Auodatan shall have the opaon to rcceive and apply the same on acoount oE the indebtedna~ heteby secured, or w permit the mortgagozs w reoeire ued use it, or any part thrnof. for other purpoaes. without thereby _wa~ing or imp~iring any equity. liea, or right, under and py vircue oE tha m~rtg~ge. and may plaa and pay for wch iasurance. or anr part thenoi. rrithout ~raiving or affecting itt option to Eorecla~e, or any right heie~nder. and the Eull amount of each and every such payment shall be immediacely due and papabk and shall bear interat iroan tbe date c6enoE uncil paid at the nce staced in the note secured harby aad wget6er rvith su~h intrrat shall be secured by the liea af thi: Mortgage. - 4. Toperm~ t, commit, or s~ffer no waste, impairn~ent oz deterioration of said prope:ty, or any part thereof, and upon the failura of the mortgagon to keep the buildings oa said property in good condition of repair, the Association may demand the immediate repais of said buiWings ~ tbe ianmediate repaymeat of the debt hereby secured, and the failure of the modgagors to oomplv with said demand•ef the A.s.sociation for a period of Thuty (30) duys, shall conctitute a breach of this mortgage, . i and, at t~e option of the Association, imtnediately mature the entire amount of principal and interest hereby secured, and tbe Association, immediafiely and without nobioe, may institute prooecdin;s to foreclose this mortgage and applv for the appoiniment ~ of a Receiver, as hereinafter p~+avideci. 4 5. 'I1us mortgage co~?tract provides for adc~tiorwl advances which may be made at tbe option of the aasociation xnd ' secured by this moctgage, and it is ager,ed tbat ui the event of such advanc~es the amount may be added to the moitgage debt and shall inerea~e the unraid balanoe of the note bereby seeured by the aaw~mt of :ueh advanee and sball be a pact of saicl note ~debtedness under all the terms of said rwte and this contract as fully as if a new such note and cootract were executed and deliverod. M additional advance agreemeat may be given and accepted for such advsnoe and pmvision may be made for ~ ciifferent monthlY PaY°~ts and a differmt interest rate s~nd other a~odificationa of t6e oontracc, but in all other respects i this contrad shait remain in fuA force and effect as to said iadelblt~e~,- including all advances. _ ~ 8. If any of tbe stuns oE mooey herein referred to be not Pi'O~I~Y and fully paid within T6irty (30) days next aker ~ ihe saa~e severally come dne and pnyable, or fE each and every the stipu1ations, agreemeat, mnditions, and covenants of said } promiaory note ancl thb cleeci, ar eitba, are not du~y pdfa~med, oomplied with aad abided by, tbe agge+egate snm md?tiaued ~ m said promissory note and any ot6er amount ar amonnts added to the martgage indebtedness under tbe terms of this mortgage shall become due and p~yable fortbwitb ar tl~reafter at the optiion oE the As~oci~tion, ~ fWly and oompkte}y as if said aggregate sum of ma~ey was originally ~ipulated to be paid on such cLy, anY~B P~'~Y note or herein to the cantrary not- "vitl~aodin& 7. To deliver to the Auociation. on or before Marrh 15th, of eadi ye+u. taz receipb evideocing the pay~nent of all law•- fuup ta,posed hxes for cbe pcececling raienciar year; co deliver co che Associ.bon receipcs evideacin~ the payment of an tie~s for p~b il c impro ve~nenb within ninetp (90) daps aka the same stwll heoome due ~nd payabk, ao~ to p~y oc di~du~rge within ninet~' (90) days aft~r doe date, anr aod ~11 g~avemme.~tal bvies tl~t may be made on the matgaged p~operty, on this mortgage or note, ur in any other way resuhing from the mortgage indebtedness secured by thh mortgage. ~ eooK~?3 v~1041