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HomeMy WebLinkAbout2764 ~ . ! at all timespeaoeably and quietly to eute: upon,lald, occupY and enjoy stud land; that satd land b free from all e~?cumbranoes; that~y wiD make s~ch furtDer as~aanoes to pe~ted tbe fee dmple titb to said land ia dre Associutioa as may reaaonably be require~; aAd that tLey do bereby fuUy vva~rant the tlde M ssid land aad ~viU defend the same against the lawful claims of all persau whomsoever. PROVIDED ALWAYS that if the M agors shall well and tnily pay anto the Associatiw?, the indebtedness evidenced by that ce~tain promis~ory n~e, of even daM tb. made by tLe Mortgagors and p~yable to the Association, in the ~xincipal sum of _TWENTY-FOUR THOUSAND_FIVE_ HLI~TDRED__~ANQ.~TQI_199--.-Doil~rs (i ~`~,.~QO. QO which note, together with interest thereon us therein specified, is paya?ble in monthly installments of.. ~terest payments in the amount_of.~152._95. due.March_111 1969_and_~~48,02_ due Apr~..~.1,__.1~69_aad then._. . ONE FIUNDRED NII~TETY-FOUR AND_NO[100---------------------------------.------ - - - - -----nollars (i 194.-00------ Ma 11 1969 _ _ oa the----1-1~---------daY of each moath commencing with---- -------------y-----'------- ara to be app1~d, first to interest, and the b~lanoe to principal, until said indebtedness is paid in full, and sLaII pe~fotm, oom with and abide by each and every the stip~at~s, agreements, conditions and covenants of said proaniao~? note and mortga8e, And, includ'uig any advances made by the Associatian to the Ma`tgagors, or their suoces.wrs in titks, for any parpose, at any time before the release and cancellation of this mortgage, but at no time shall this modgage secnre advanoes oa aecount of said orig~l note mgecher with addici«?~1 adva~ces in a s~, in ezcess oE____T_WENTY-FOUR THOUSAND_ FIVE HUNDRED AND NO/~00--------------- ~=24,_500.00__), P~„a,u~y advances aece~n? - to protect the sec~urity ~?d costs, then tbis deed and ihe estate hereby created shall cease and be null and void. AND THE MORTGAGORS DO hereby cvvenant and agree: l. To pay all aad su~gular the princi~al and intere.st and other snms of money p~yable by virtue of said promissory note and this mortgage, or either, promptly on the days respectively the same severally come due. 2. To pay a11 and singular the taues, asse~ments, levies, liabilities, obligations and iacumbrances of every nature and ldnd now an said desaibed prope~ty, or that he~afttr may be imposec1, suffered, placed. levied, or assessed thereon, or that hereafter may be levied or a~d upon this Ma~tgage, or the indebtedness seciued hereby, c~ach and every, when dae and payable, aocording M law, before they beoome delinquent, and before any interest attacbes or any penalty is inc~ured; and insofar us ~ny thereof is of record the same shall be prompdy satisfied and di9charged of record and the original oEficial document (such ~ as, for iastance, the tax receipt or the satisfaction paper ofEicially endorsed or certified) shall be placed in the hands of said Association as !4lortgagee within ten days nert after payment; and in the event that any thereof is not paid, satisfied and discharged, said Association may at any time pay the same or any part thereof without waiving or affecting any option, liea, equity or ri t under or by virtue of this ?1~ortgage, and the full amount of each and every such payment shall be immediately due andpa ya ]e and shall bear interest fmm the date thereof until paid at the rate stated ia the nMe secured hereby and together with such inter- est shull be sec~u~ed by the liea of this Mortgage. 3. To kcep the buildings and aU equipment and penonal property nowT or hereafur on said premisa aovered br this mortgage. insured in a sum equal to at leut the amount of the mortgage. or an amount sufficimt to oomply ~rith any co-insurance reqnire- meat a~vering tt~e ume under the lawa oE the Stace of Florida. oovering lass from both fire and storm. making t6e las under ~id policies, each and every, payable to the Association, as mottgagee, as its interest may appear. aad said iniw~ance stull be in a good and raponsible i~uranc~ oompany sacis[aaory co said Associatioa, and writtca by a raponsibk loc~l agent satiffactory to said Ano- ciation: and the policy or policies shill bear a standard aartgage clause rvithout contribution. and, if the otiginal prinapal amount ! of the mortgage is Fifty Thousand and no/100 Dollus (i`~.000.00) or in acceu thereoE. ahall be held b~r the Association. and. iu I che event any sum of mamy becoma payable under such policy or policies, the Assoaation shall ha~e t6e option to trceive and apply ~ the same on acoount oE [he indebtedness hereby sccured. or to permit the mortgagots to rcaeive and use it, or any part t6acof, for ~ other purposcs, without thereby waiving or impairing any equity, lien, or right under and by virtue of this mongage, and may ~ place and pay Eor such insunnce. or anY part thenwf. ~vithout waiving or affecting its option to toreckse, or any right hereunder, and the [ull amount of each and every such payment shall be immediacely due and payable and shall bear interest from the date ~ ehereof until pzid u the nte stated in the noce secural hereby and together ~rith sudi interat shall be secured bp the liea of this Mortgage. To permit, commit~ or suffer no waste, impairment or deterioration of said properi~, or any part thereaf, and upon the failuro of ihe mortgagors to keep the buildings on said property in good condition of repair~ the Auociation may demand the immediate rep~ir of said buildiags ar the immediate repayment of the debt hereby secured, and the failure of the moctgagors to comply with said demand of the A.csociation for a period of Thirty (30) days, shall constitute a breach of ihis mortgage. and, at the option of ihe Association, immediately mature the entire amount of principal and interest hereby secured, and the Association, immediately and without notice. may institute proceedin;s to foreclose this mortgage and applv for the appoiatment of a Receiver, as heteinaker provided. 5. Thit mortgage contract ~x+ovides for additiorul advances which may be made at the option of the association aud secund by this morqgage, and it is agneeci that in the eveut of six~h advances the amount may be added to the moctgage debt and shall i~se the unpaid balanoe of the note hereby seciu+ed by the amount of s~ch advanoe and shall be a put oE said ~ote indebtedness under all the ternu of said note and this cantract as fully as if a new such note and oontract were executed and delivered. M additional advance agreement may be given and aceepted for such advance and provision may be made for clifferent monthly payments and a diffecrnt inter~st rate and other modifieations of tbe oontraet, but in all other respects er s ~ ~his contrad shall remain in full fo~+ce and effect as to said indebt , including al! advances. ~ x ~ 8. If any of the sums of money herein refened to be not Exompdy and fully paid within 1'lurty (30) days neut after the same severally rnme due and pQyaWe, or if each and every the stipulations, agreement, canditions, and covenanb of said promissory note and this deed, or either~ are not duly performed. o~mplied with,~nd abided by~ the agg,regate sum mentianed in said promissory note and any other amount or amoimtr added to tbe mortgage~'uidebtedness under tbe terms of this mortgage shall become due and payabk forthwith or thereaker at the optioz? of the Association, as fully and rnmpktely as if said aggregate " r sum of money was originally stipulated to be paid on such day. anything in said promissory note or herein to the contrary not- "'it}~dancii"& 7. To deliver to the Association, on or before Much 15th, of each yur, tax receipts evidencing the poyment of ail 1aw•- ~ fuUy imposed tues for tlse preceding calendar year; to deliver to the Associatioo receipts evidencing the paya~eat of all lia~s ~ for pubLc im b within ninety (90) daps aker t}~e same s}~II hecome due and p4yabk, a~7 to p~y or disd~rge within ninetY (90) ~due date, any and aA governmental Ievies tbat may be made on the mortgaged property, on this mwtRage or nohe, or in any ather way resuhing fmm the mottgage indebtedness secared by this mortgage. ~ • BQRIf 175 PaCE~~ " . ~ ~-~:~~.Y : - ~9~; ~ f.# +s S~-.sF ~ . Jr _ x'~' r~~~~a~~~,.~-.s~y _ . _ a. h .