HomeMy WebLinkAbout1898 at sIl Hmespeaoeably and qutetly to eatec upoa, hold, oocupy and enjoy said Land; that satd land is free from all encumbranoes:
that they w1II make such fucther ats~asnoe~ bo pecfect tLs fas simpb title ~o said land ia the Aasociatian as may reasonably be
required; aAt1 that tLey do hereby fW1y wansnt the title ~ said land and ~viU defend the same against the luwful claims of
aU persons whomsoever•
PROViDED ALWAYS that if the Mort agors sl~all well and trulY paY unto the Association, the iadebtedness evidenoed
by tbat certain ~omi~sory nae. of e~ ~at° ~a° bY the M°KSagors and payable to the Associati~, in the principal
SIX THOUSAND AND NOj100---------------------------~oil~~s - --6,90Q•_00
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sum of -
which note, together with intere.st thereon as therein specified, is payabk in monthly installments oE_ Int~rest _ Paymen~~
. in_the_amour~~_o~_~3.5~_~_?_.due_ on_A~~exnb.er._.13~...19.6fl__and..a-35.OII_.due._on.Januar~r-.13,- -196.9-
and then FORTY-SEVEN AND NO/100----------------------------------------------
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----_.__.noUars _.47,- 00----,----
on the-----13~-------~SY of each month commencing with.---_FEbT.li81'~L_-1~.--1~6~__-------------------__which payments
are to be upplie~, first to intereat, and the balance to principal, until said indebtedness is paid in full, and shaII pecfarm, oom
- with and abide by each and every the stipulations, agreemeats, conditions and oovenants of said p~omissor~? note and
mortgage, Md, inclnding any advances made by the Association to the Mortgagors, or their suoceasors in titla, far any purpose,
at any time before the releese and cancellation of this mortgage, bnt at no time shall this mortgage secure advances on account
of said original note together with sucl? additional advances in a sum in ezceu oE_-~_.~
100-------------------------------------_-.-~~ (s____6, 000~ OQ----), pl~ ~y ad~ ~ry
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to protect the seavity and costs, tben tbis deed and the estate hereby created shall cease and be null and void.
AND THE MORTGAGORS DO hereby cvvenant and agree:
1. To pay all and siagular the pcincipal and interest and other sums of money payable by viztue of said pmmissory note
.?nd this moitgage, or eitl~er, P~mP~Y ~ the days respec.~tively the same severally come due.
2. To p~y all and singular the tazes, as~ments, levies, liabilities, obligations and incumbrances oE every nature and Idnd
now on said descxibed pnopeity, or that hereafter may be imposed, suffered, placed, levied, or assessed thereon. or that hereafter
may be levied or assessed upon this biortgage, or t6e indebtedness secun~cl hereby, cach and every, when due and payable,
according to 1aw, before they become delinqueat, and before any interest attaches or any penalty is incurred; and in9ofar As
any thereof it of record the same shall be prompdy satisfied and dis~harged of reoord and the original official dacument (such
as, for instance, the tax receipt or the satisfaction paper officially eadorsed or certified) shall be placed in the hands of said
Associatiou as Martgagee within ten days neut after payment; and in the event that any ihereof is not paid, satisfied and discharged.
said A,ssociation may ac any time pay the same or any pait thereof without waiving or affecting any option, lie~, equity or ri~t
under or by virtue of this ?~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 sec~recl hereby and together with such inter-
est shull be secured hy the lien of ihis Mortgage.
3. To kcep the buildings and all equipment and peiwnal propertr now or hereatter on said premisa oovered by this mortgagt,
insured in a sum equal co at least the amount of [he mongage. or an amount suiEicieqt to oomply w~ith any oo-i~uurance reqaire-
ment aovering the same under t6e laws of the State oE Florida, oovering loss Emm both fire and storm. miking che 1aa undtr said
policies. each and every. papble to the Associatan. as mortgagce, as its interest may appear. and said insuraace s6a11 be in a goal
I and responsible insurance company satisEaaory to said Aswciation, and written by a responsibk local agent ~tisEactory w aaid Asso-
ciation: and the poliry or policiea shall bear a standard mortgage clause wit6out oontribution. and, iE the original principal amount
oE the mortgage is FiEtr Thousand and no/ 100 Dollan (i50.000.00) or in acaa thereof, s6~11 be held by the Auociation, and. in
che event any aum, of maney becomes payable under such policq or policies. th~ A,aodation shall have the option w reaive and apply
che same on acoount of the indebtednaa herebr secured, or to permit the mortgagors to re~ive and ux it, or anJr part thereof, for
ocher purposes, without t6ereby waiving or impairing any equity, lien, or right wider ali~~ b~r'virtue of th's ~rtgage. and may
place aqd pay; fpr such insuranoe, or my part ehereof. without waiving or affecting its option to foreckse, or any right heieunder.
and the full amount oE each and every such payment shall be immediately due and payable and shall bear interat Imm the date
chereof until paid at the rate stated in the note aecured hereby and together with such interest shall be secared by the lien of ttus
Aiortg~ga
4. To pecmit, oommit, or suffer no waste, impairment or deterioration of said property, or any part ihereof, and upon
the failuro of the mortgagors to keep the buildings on said propesty in good condition oE repair, the Association may demand the
immediate repair of said buildings or the unmediate repayment of the debt hereby securecl, and the failure of the mortgagors
to comply wiih said demand of the As9ociation for a period of Thirty (30) days, shall constitute a breach of this mortgage,
and, at thc option of the A.uociation, immediately mature the entire amount of principal and interest hereby secured, and the
Association, immediately and without notioe, may institute proceedin,s to foreclose this mortgage and apply for the appointment
of a Receiver, as hereinaker provideci.
5. This mortgage contract provides for additionul advances which may be made at the option- of the association and
secured by this mortgage, and it is agreed that in the eve~nt of such advances the amount may be added to the mortgage debt
and shall incre~ the unpsid balance of the note hereby seciued by the amount of such advance and shall be a part of said
note ~debtedness under all the tecros of said note and this contract as fiilly as if a new such note and contract were euecuted
and delivered. An additional advance agreement may be ~ven and accepted for such advance and provision may be made for
ciifferent monthly payments and a different interest rate and otherezpress modifirations of the contract, but in all otber respects
ihis contract shall remain in full force and effect as to said indebtedness, inclad'mg all advances.
8. If any of the surns of money herein refe:red to be not promptly and fully paid within Thirty (30) days next after
ihe same severally come due and payable, or if each and every the stipulations, agreement, conditions, and covenants of said
promis~y note and this deed, or either, are nd duly perfarmed, complied with and abided by, the agg~+egate sum rcenHoued
in said promissory note and any other amount or amounb added to tbe mortgage indebtedness under the terins of this mortg,age
shall beoome due and pay3ble forthwith or thereafter at the option of the Association, as fiilly and oompletely as if said'aggregate
sum of money was originally atipulated M be paid on such day, anYtbu'8 i~' s~ P~"~OiY note or herein to the contrary not-
withttandi"&
7. To deliver to the Association, on or before March 15th, of each year, tax receipts evidencing tbe pnyment of all law•-
fully impo~ed taxes for t}~e prececling calendar year; to deliver to the Association receipb evideacing the payment of all liens
for public imp~
vemenb within ninety (90) days aEter the same shall ~eCOme due and payable, and to pay or diacharge within
ninetY (90) days after due date, any aad all governmental 1gvIes that may be made on the martgaged prope~ty, on this mortgage
_ or note, or in any other way res~ilting from the mortgage indebtedness secured by this mortg,age.
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