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Home My WebLink About0823 > r at aU timcspeu ceably and guietly to enter upon, hold, ocrupy and e~joy said lu~d; that said land is frea from aA encumbr~~;,~; that they will malce such further assurances to petfect the fee simple title to said tand in the Association as may reasonably be required; and that they do bereby fully warrant the title to aaid la~d and ~vill defend the ssime rgainst the lawful clauns of al) persons whomsoever. PROVIDED AL~VAYS thut if the riortgagors shaA well and truly pav unto tl~e Associntion, the indebtedness evidenced by that certain promissory ~te, of even date hetewit~ made by the riortgagon and pa~able to the Association, in the princi~~al su~ of _TEH_TIiQLISAtYD_ANA_~O~iQU--_-_-_-----_---_-.---_-------------~»:~~ ~a lO,OOO.OO which note, together ~~~th interest thereon as therein speciFied, is paysble in manthly installments of NINETY- EIGHT AND 48/100--------------------------------------------------------- - - - - - - - - . - ~ - _ _ _ Dollars (s._98.48 - - ~ - - - on the_ __14~__.day of each month cummencing ~vith._._ FebY'112tY'y 14, 1970 W~h payments to be u~plied, E'ust to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, oomply ~vith uad abide by each and every the stipulations~ agreements. conditions and covenants of said p~+omissory 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 cancellation of this mortgage, but at no time shalt thu mortgage secure advances on aecount of said original note together ~vith such additional advances in a sum in escess of_ TEN THOUSAND AND_NO/100 -------------------------_--_--_-----.-!'~ollars (s10,_000..00_----), plus any adva~x~s necessarv - - - - to protect the security and costs, then ihis deed and ihe estate hereby emated sh~ll cease and be null and void. ~ AND THE 11iORTCAGORS DO hereby cvvenant und agree: 1. To pay all and singular the principal and interest and other sums of money p~ayable by virh~e of said promissory n~ie .?nd this mortgage. or either, promptly on the days respectively the same severally rnme due. 2. To pay all and singular the taxes, assessments, tevies, liabilities, obtigations and incumbrances of every nature and ]dnd now on said described property, or ihat hereafter may be imposed, suffered, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon this :ltortgage, or the indebtedness securecl h~reby, cach and every, when due and payable, according to Lzw, before they become delinquent, and before any interest attaches or anv penalty is incurred; and insofar as any thereof is of reeord the same shall be promgtly satisfied sind ciiseharged of reoor+d And ihe origireal official doeument (such ss, for instanee, the tau receipt or the satisfaction paper officiallv endorsed or certified) shall be placed in the hands of said Association as ~iortgagee ~vithin ten days next after Iraayment; 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 optiun, licsj, equity or nght under or by ~irtue of this ~(ortgage, and the full amount of each and every such payment shall be immecliately due andpa yable ancl shzll bear interest from the date thereof unW paid at the rate stated in the note secured hereb~ and together with such inter- est shall be secured by the lien of this Mortgage. " 3. To kcep the buildings and all equipment and penonal property now or hereafter on said premises covered by this mortgage. insured in a sum equal to at least the amount of [he mongage. or an amount sufiicient to rnmply with any co-insuiance tequire- ment mvering the same under the Iaws o[ the State ot Florida. rnvering loss irom both iire and storm. making the loss under said policies, each and every, payable to the Association, as mortgagee, a.~ its intemst tnay appear, and said insurance s}eaU be in a g~ood and responsible insurance company satistactory eo said Association, and wri[ten by a responaible local agent satisiactory to said Asso- ciation; and the policr or policies shall brar a standard mortgage clause without rnntribution, and, iE the original prinapa! amount of ehe mo~ tgage is Fifty Thousand and no/ 100 Uollars (~50,000.00) or in excess thereof, shall be held by the Association, and, in the event any sum of maney becomes payable under such policy or pvticies, the Associadon shall have the option to nYeive and apply the same on accounc of the indebtedness hereby secured, or co permic che mongagon to receive and use it, or any part thereof. for other purpoac~s, without thereby waiving or impairing any equity, lien, or righi under a~d by virtue of this mortgagr. and may ptace and pay tor such insurance, or any pan thereof, without waiving or af[ecting its option to foreclose. or anY right hemunder, and the full amount of each and every such payment shall be ionmediately due and payable and shall bear intetest from the date thereof until paid at the nte stated in the no~e secured hereby and together with such interest shall bt secured by the lien oE this rtortgage. ' 4. To permit, commit, or suffer no waste, impairment or deterioration of said property, or :iny part thereof, and upon the failura of the mortgagors to keep the buildings on said property in good condition of repair, the Association may demand the immediate repair of said buildings or the immediate re~xiyment of the debt hereby secured, and the failure of the mortgagors to complv ~vith said demand of the Association for a period of Thirty (30) day~s, shall constitute a breach of this mortgage, and, at t~e option of the Association, immediately mature the entire amount of principal and interest hereby secured, and t6e Association, immediately and without notice~ may institute proceedin;s to forectose this mortgage and applv for the appointrnent of a Receiver, as hereinafter pr+ovidecl. S. This mortgage cantract provides for additionxi advances «~hich may be made ai the option of the association and secnred by this mortgage, and it is agreed that in the event of such advances the amount may be addeci to the mortgage debt and shall increase the unpaid balance of the note hereby secused by the amount of such advance and shall be a part of said note indebtedness under all the terms of said note and this contract as fully as if a new such note and contract ~cere executed :?nd delivered. M aaditional 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 contract. but in all other respects ihis contract shall remain in full force and effect as to said indebtedness, including all advances. 8. If any of the swns of money herein referred to be not prompdy and fully paid within Thirty (30) days next after the same severaDy come due and payable~ or if each and every ihe stipulations, ooreement, conditions, and covenants of said promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentiaiec~ in said promissory note and any other amount or amoimts added to the mortgage indebtedness tu?der the tesms of this mortgage shall become due and pavable forthwith or thereafter at the option of the Association, as 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 contrary not- ~vithstanding. 7. To deliver to the Association, on or before \iamh ISth, of each year, tax receipts evidencing the payment of all 1aK•- f~illy imposed taxes for the prececling calendar year; to deliver to the A.csociation rereipts evidencing the payment of all liens for public improvements within ninety (90) days after the same shall t~come due and payable, and to pay or diccharge within ninety (9p) days after due date, any and all govemmental levies tLat may be made on the mortgaged property, on this mortgage or note, or in any other way resu]ting from the mortgage indebtedness secured by this mortgaRe. ecrox ~ ~ r~ ~ - _ - _s _ _ ~ ~ n ~ ~ ._~;~i_ ~ ~ _ . _.r,E.:~ _a.~ ~ ~