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Home My WebLink About0831 i . 1 ! ; at alt timespeaceabty and quict2~ to entet up~q hold, occu y and enjoy said laad; that said land is frea from all encumbrances: i that~ wiIl ir~ake such fu~ther assutanxs ~o perfed dre ~ dmple titb to said land in the Association aa may reasonably be r~aq , and that they do bereby fully waaant the title to said iand and will defend the same against the la~vful claims of ` aD peisw~s whomsoe.wer. PROVIDED ALWAYS t~wt if the I?iortgagon shaU well and truly pay unto the Association~ the indebtedness evidenced by that ceztain promiss~ry note, af e.wen date herewitb„ made by the ??to~tgagors and pay~able to the Assoclation, in the principal swn of TEN THOUSAND AND NO 100--------------_-------------- pallars (Z 10, 000. 00 - ~ - - - - - - ~ which aote, together with interest thereon as therein sPecified, is gayable in monthly instullments of NINETY-EIGHT _ .AND 48/100--------------------------------------------------------------- 98 48 . _ . . - - - - Dollars (Z - - on the_ 14th . . FebY'tlary 14, 1970 which ents . ---..day of each month rommencmg w~th._- - PaY°~ are to be upplied, first to interat, and the balance to principal, until said indebtedness is paid in hill, and shall perfoaa, o~o with and abide by each and every the stipulations, agreeiuents, conditions and rnvenants of said ~missory note and is mortgage, Md, including any advances made by the Association to the Mortgagors. or their successors in tida. for any purpose, at any time before the release and cancellation of this mortgage, but at no time shall this mortgage secure advances on account of said original note together with such additional advances in a sum in elccess oE_______T_EN _THOUSAND AND NU~100-------------------------------Dollars (s__._10, 000._UU_), plus any advances necessarv - to protect the sec+uity and costs, then this deed and the estate hereby created shall cease and be noll and void. ~ AND THE 11lORTCAGORS DO hereby cuvenant and agree: 1. To pc?y all and singular the principal and interest and other sums of money Irayable by virtue of raid promissory nutc and this mortgage, or eithez, promptly on the days respectively the rame severally rnme dve. 2. To pay a11 and singular the ta~ces, a~ments, levies,liabilities, obligations and incumbrances of every nature and kincl now on said desczibed prnpedy, or that hereaEter may be imp~s~ , suffered, plac~ed, levied, or asscssed thereon, or that hereafter may be tevied or ass~sed upon this ~toatgage, or the iadebtedness secured hereby, cach and every, when due and Irayable, :~ccording to law, before they become delinquent, and before any interest attaches or any penalty is incurred; and insofar as any thereof is of record the same sliall be promptly satisfied and discharged oE reoord 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 ~iortgagee within ten days neat after payment; and in the event that any ihereof is not paid, satisfied and discharged, said Association may at any time pay the same or any part thereof ~vithout waiving or afEecting any option, Iien, equity or r'ght uader or by virtue of this ~iortgage, and the [ull amount of each and every svch payment shall be immecliately due andpa yable and shall bear interest from the date thereof until paid at ihe rate stated in ihe note serured hereb}• :uid together ~vith such inter- est shal) be secured by the lien of ihis Mortgage, 3. To ketp the buildings and all equipmrnt and ptrsonal pro}xrty now or hereafter on said prtmiaa rnvered by this mortgage. insured in a sum eqwl to at least the amount of the mortgage, or an amount sutficient to comply with any co-insurance require- ment covering the ume under the laws oE the Staee of Florida, covering loas Erom both Ein and storm, making the loss under said policies, each and tvery, payable to the Association, as mortgagee, as its interest may appear, and said insunnce shall be in a good and responsihk insurance mmpanr satisfactory to said Association, and written by a responsible local agent satisEactory to said Asso- ciation; and the policy or policies shall bear a seandard mortgage clause without oontribution. and, if the origina! prinapal amount oE the mortgege is Fi[cr Thousand and noJ100 Dollan (~50.000.00) or in excess thereof. shall be held by the Associacion, and, in the event any sum of m.~ney becomes payable under such policy ot policies. the Asaociation shall have the option to receive and apply the same on account of tbe indebtedness hereby secured. or to permit the mottgagon to receive and uae it, or any part thenwf, for other purposcs, without thereby waiving or impairing any equity. lien, or right under and by "vinue of this mortgage. and may place and pay [or such insurance, or any part thereof, without waiving or a[fecting its option to Eoreclose. or any right heteunder, and tht tull amount of each and er•ery svch payment shal! be immediately due and paqable and shall bear intenst from the date thereof unW paid at the nte sntod in the noce secured hereby and together with such interat shall be secured br the lien oE this 1?tortgagt. To permit, cammit, or suffer no waste, impairment or deterioration of said property, or any part thereof, and upon the failuro of the mortgagors to keep the buildings on said pmperty in good condition of repair, the :~SSOCiation may demand the immediate repair of said buildings or t6e immediate repayment of the debt hereby secured, and the failure of the mortgagors to comply ~vith said demand of ihe Association for a period of Thirty (30) days, shall constilute a breach of this mortgage, and, at thc option of the Auociation, immediately mamre the entire amount of principal and interest hereby secured, and the Association, immediately and without notice, may institute proceedinos to foreclose thu mortgage and applv for the appointment of a Receiver, as hereinafter ~ovided, 5. This mortgage contraM provides for additional advances which may be made at the option of the assvciation and secured by this mortgage, and it is agrced that in the event of such advances the amount may be added to the mortgage debt and shall iucrease the unPaid balanoe of the note hereby secured by the amount of such advance and shall be a part of said note indebtedness uader all the terms of said note and this ca?tract as fully az if a new such note and oontract were executed and delivered. M additianal advance agreement may be given and accepted for such advance and provision may be made for clifferent monthtv pa~~ments and a diffecent interest rate and oiher eapress modifications of the contract, but in all other respects ihis contraet shall remain in fuD force and effect as to said indebtedness, including all advances, 8. If any of the sums of m~ey hezein referred to be not prompdy and fully paid within Thirty (30) days next after t~ ~~.~ny ro~ a~ ~a ~y~b~e, or if eaeh and every the stipulations, oQreement, conditions, and covenants of said promissory note ancl this deed, or either, are not duly perfrnmed, complied with and a6ided by, il~e aggr+egate sum mentioned in said promissory note and any other amount or amonnts added to tbe modgage indebtedness under the lerms of this mortgage shal~ brcome due and gaysbk forthwith o~ t}~ereafter at the option of the Association, as fully and rnmpletely as if said aggregate sum ot~l ney was originally stipulated to be paid on such day, anything in said promissory note or herein to the contrary not- & 7. To deliver to the Association, on or before :~tarch 13th, of each year, tax receipts evidencing the p~yment of al1 laH~- fully im~ taxes for the prececling calendar year; to deGver to the Association receipts evidencing tbe payment of all liens for pub '~mpmvemenb within ninety (90) da~s after the same shall ~me due and payable, and to pay or discharge within ninety (9p) davs after dne date, any and al) govemmental levies that may be made on the mortgaged property, on this mortgage or note, ar in any other way msulting from the mortgage indebtedness secured by this mortgage. aooK 1$2 PacE 829 ~ _ _ ~ - - ~ _ _ ~ - ~ ~ _ : - ~ ; ~ ~ ~gx~- sr-~ ~ ~ ~,vY i:x r , ' - 4 ~ ~ ~ ~