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Home My WebLink About1547 at all times peaceably and quiedy to enter upon, hold, ocrupy and enjoy ssud land; that said land 'u fr~e from aA encumbrances; ; that they will make such futth~ assuianees to perfect the fee s~mple tide to said land in the Association as may reasonably be ~ required; and that they do hereby fully wariant the title to said land and ~vill defend the same Against the lawful claims of all persons whomsoever. PROVIDED AL~VAIS thut if the 11iortgagors shal! well and truly pay unto the Association, the indebtedness evidenced ~ by that certain pmmissory note, of even date herewith, made by the Mortgagors and payable to the Association, in the princirc?1 1 SIXTEEN THOUSAND AND NO/100-------------------------~~~z~ ~s16, 000. 00 ~ sum of _ _ _ . ~vhich note, together with interest thereon as therein specified, is p:?yuble in monthly installments of ONE HUNDRED ; TWENTY THREE AND 50/100--------------------------------------------------- ` _ . _ . . . _ ~ . . - - - - - ~ _ _ Uollars (s 123. 50 - - - i - _ - _ - _ . - on the. _5th_. _ - da,y of each month c~mme~cing ~vith-_ - - Jallual'y.5, --1970--------- - - - ----.which payments j :ue to be applied, first to interest. and the balance to principal, until said indebtedness it paid in full, and shall perform, oomply with and abide by each and every the stipuiations. agreements, conditions and covenants of said promissory note and this mortgage, Md, including any advances made by the Association to the Mortgagors, or their successors in tidr, for any purpose, at any time before the mlease and rancellation of this mortgage, but at no time shall this mortgage secure advanc~s ori account SIXTEEN THOUSAND AND ~ of said original note together ~vith such additional advances in a sum in eaceu of__._______.___._________________________________.___._________. _ i i NO/100---------------------------------- ~a16 000 00----), plus any advances necessarv - - - ~ollars ~ to protect the security und costs, then this deed and the estate hereb~ createcl sh:?ll cease and be null and void. ~ AND THE riORTGAGOAS DO hereby cvvenant and agree: 1. To pay all and singular the principal 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 all and singular the taxes. assenments, levies, liabilities, obligations and incumbrances of every nature and ldnd no~v on said described property, or that hereafter may be imp~s~ . suffered, placed, levied, or :usessed thereon, or that hereafter may be levied or assessed upon this Mortgage, or ihe indebtedness securecl hereby, cach and every, when due and payable, :,cconling to la~v, before ihey become delinquent, and before any interest attaches or any penalty is incumed; and iruofar cu # any thereof is of rec~rd the same shall be prompdy satisfied and discharged of record and the original official document (such as, for instance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Association as Nortgagee ~vithin ten days next after payment; and in the event that any ther~f is not Iraid, satisfied and discharged, said Association may at any time pay the same or any part thereof ~vithout waiving or affecting any option, lien, equity or rig~ t iinder or by virtue of this ~iortgage, and.the full amount of each and every such payment shall be immediately due andpa yable and shall bear interest from the date ihereof until paid at the rate stated in the note secured hereb~• and together with such inter- est shall be secured by the lien of ihis biortgage. 3. To keep the buildings and all equipment and personal property now or hemafter on aaid premises tovered by this mortgage. insured in a sum equal to at least the amount o[ the uwrtgage. or an amount sui[icient to mmply with any to-insurance require- ment mvering the same under the laws of the Scate of Florida, rnvering laas from both [ire and storm, making the loss under said policies, each and every, payable to the Association, as mortgagee, aa iu interest may appear, and said insurante shall be in a good I~ and responsible insurance company satis[ac[ory co said Association, and writcen by a responsible local agent satisfactory to said Asso- ~ ciation; and the policy or policies shall bear a standard mortgage clause without rnntribution, and, it the original prinapal amount of the mortgage u Fi[ty Thousand and no/ 100 Dollan (s50,000.00) or in excess thereoE, shall be held by the Association, and, in ehe event any sum of money becomes payable under such policy or policies, the Association shall have the option to receive and apply ~ che same ot~ account o[ the indebtedness hereby secured, or to permit the mortgagon to receive and use it. or anr part thereof. for ~ other purposes, without thereby waiving or impairing any equity, lien, or right under and br virtue of this mortgage, and may ~ place and pay for such insurance, or anY pan thereo[, without waiving or affecting its option to foreclose, or any right hereunder, and ehe Eul! amount of each and every sach payment shall be immediately due and payable and shall bear interest [~+om the date chereof until paid at the rate stated in the note secured hereby and together with sueh intereat shall be secured by the lien of this ~ ~ 1lfortgage. ~ ~ ~ To permit, cc~mmit, or suffer no waste, impairment or deterioration of said property, or :~ny part thereof, and upon ' the failures oE the mortgagors to keep the buildings on said property in good condition of repair, the Association may demand the ~ immediate repair of said bu;ldings or the immediate repayment of the debt hereby secured, and the failure of the mortgagors to comply ~vith said demand of the Association for a period of Thirty (30) days, shall constitnte a breach of this mortgage, and, at the option of the Association, immediately mature the entire amount of principal and interest hereby secured, and ihe Association, immediately and without notice, may institute proceeclin;s tn foreclose this mortgage and app)v for the appointment ~ of a Receiver, as hereinafter provided. ~ 5. This mortgage contract provides for additional advances which may be made at the option of ihe association and , secured by this mortgage, and it is agreed that in the event of such advances the amount may be added to the modgage debt ± ~ and shall increase the unpaid balance of the note hereby secured by the amount of such advance and shall be a part of said ~ note indebtedness under all the terms of said note and ihis contract as fully as if a new such note and contract .s•ere executed _ :ind delivered. An additional advance agreement may be given and accepted for such advance and provision may be made for ~ ~lifferent monthly payments and a different interest rate and other express modifications of the contraci, but in all other respects ihis contract shall remain in full~ force and effeM as to said indebtedness, including all advances. x 6. If any of the sums of muney herein referreci to be not prompdy and fully paid within Thirty (30) days next after ~r the same severally come due and payable, or if each and every the stipulations, agreement, conditions, and covenants of said X promissory note and this deed, or either, aze not dnly performed, complied w-ith and abided by, the aggregate sum mentioned f in said promissory note and any other amount or amounts added to the mortgage indebtedness under the terms of this mortgage i shall become due and payable forthwith or thcreafter at the option of the Association, as fiilly and rnmpletely az 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 ihe Association, on or before 4tarch 15th, of each year, tax receipts evideacing the payment of all laK•- ~ fully im~ taxes for the prececling calend:u year, to deliver to the Association receipts evidencing the payroent of all liens ` for pub 'c improvements within ninety (90) days after the same shall hecome due and payable, and to pay or diccharge within ~ ninety (90) days after due date, any and all govemmental levies that may be made on the mortgaged property, on this mort~;age . ~ ~r note, or in any other way msulting from the mortgage indebtedness secured by this morigaQe. ; ~ _ r, ~ soox 18~ ~ 1547 - . - ~ ~ _ ~ _ _ - ~ -