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HomeMy WebLinkAbout1171 ~ ~ at al! timespe~oe~bly and quietly w eatec upoan, hold, occupy and eajoy sa~d lund; that said land is frna fmm all encumbranoes; that~ wi~ make s~ch furthe~ a~uranoet to pafect tbs fas simpb title to said laad in tbe Associatioa as may reasonably be . apd tlwt tbey do bereby fiilly wam~nt d~e t~tb ~u said land and wil! defead the same against the luwful daims of aU persoru wlamsoever. PROVIDED ALWAYS that if the Morcgagors shall well and truly ps?y uato the Associatia~, the indebtedness evidenoed by that cedain pro~iss~? note, af evea d~te ha+ewit~. mads by the Mortgagors a~d pawable to the Associatioa, in the j~rincipal . 13 000.00 ~,a, ~ THIRTEEN_THOUSAND AND_NO~100_...__--_---_.__._--------.- . . Uollars (s l, N,}~ich nota together with interest therean as therein s~ecif~ed, is payable in monthly installments of ONF~ . HUNAR~+' D__ _ TVfI,~I,~V~_.A1~ID..8~1.100----------------------------------------------_---.--------- _ _ - - - mu~ _ i i2,-sa - on the_----- 20th------day of each moath commencing with-----~ --1Ka~_20 . 1970----------------------_------------------- P4Y~' are to be applied, first to interest, end the balance to princapal, until said indebtedness u paid in full, and shall perfoim, ts with and ab'xle by each and every the stipu1ations, agreeme~nb, conditions and covenants of said promissory note and~t mortga8e. And. including any advances made by the Association to the Mortgagors, or their suocessors in titks, fa anY P~~ at any tia~e before the release and cancellation of this ma~tgagc~, but at no time shall this mortgage secure advances on account of said original note together with sach additional advances in a sum in ezcess of__~'~RTEEN THOUSAIID AND ~4L100---_---_--------.--------------------_--m~ (=_13,.000,-00----), ph~ ~y aar,?~ ~~R to protect the secudty and costs, tl~ this deed and ihe estate hereby created shall cease and be null and void. AND THE MORTGAGORS DO hereby cvvenant and agree: 1. To pay all and singular the priuc~pal and 'mterest and other sums of moaey payable by virtue of said promiss~ry iwt~e and this matgage, or either, Pr°i°PUY an the daYs respectivelY the same s~'erallY rnme due. 2. To pay all and siagular the isses, ass~menb, le.wies, lisbilities, obligations and incvmbranc~es of every nature and ]dnd now ai said described ~operty, or that hereaker may be im~. sufferecl, plaoed, levied, or ass~sscd thereon, or that bereaEter may be levied or aaessed upon thu Matgage, or ihe inde ess secored hereby, cach and every, when due and pa ble, according to 1aw, before tbey become delinq~eat, and befor~ any interest atiaches or anypenaity Is incumed; and ~ar as any tl~ere~f it of record the same shall be promptly satisfied and disrharged of record and the origiaal official document (such as, for iiutance, the taz receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Associatia~ as Mortgagee within ten days neat aker pay~ment; 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 ~vaiving or aHecting eny option, lien, equity or right under or by virtue of this ~liortgage, and the full amount of each and every such gayment shall be immecliately due andpa yable and shall bear interest from the date thereof until paid at the rate stated in the note secured hereby and together with such inter- est shall be secured by the lien of thi~ Morcgage. 3. To keep the buildings and all equipment and pe~aonal property no~r or htreafter on said prtmisa oovered b~ this m~rtgage. insured in a sum equal w at kasc the amount oE the mortgage, or an amount sutficient to comply ~rith any ao-insurana require- ment ouvering the ~me uader the la~vs of the Stace of Fbrida, rnvering lass frnm both fire aad stoim, maki~ the 1at uader said policies. eac6 wd every. parable to the Association. u mortgagee, as its interest tuay appnr. and said iasurante shal! be in a good and raponsib~le insunnce companr utisfaaor~r co uid A:wciation. and ~rritten br a respauibk local agent satisfactory to ~aid As~o- ~ ciation; and the policy or pqlicia shall bCar •a stan~ard_ mortgage dause without mntribution, and, if the origin~l principal amount of the mortgage is Fifty Thouaand and no/100 Dollan (=50.000.0~ or in excea thereof. shall be held bp the As~ociation, and, in the event any sum of muney beco~na payable undv wch policp or policies. t6e A~otiation sha21 havt the option to teoeive and apply the same on aoo~uut oE the indebtedness htrcby secured, or to permi~ the mortgagon w reoeire and use it. or an~ part chereof, for other purposes. without ther~by M?aiving oF impairing ~y ~~,cy. lien. or right u~der aad bJr ,virtue of tha mortgagr, and may place and pay for such insurance, or any part thereof, ~rithout ~raiving or af[ectiag its option to foreclo~e, or m~ right hereunder, and the full unaunt oE each and every such payment shall be immediately due and payabk and s6aA bear intenst from the date thereof until paid at the nce stated in the note secured hereby and together ~rith such intersst :hall be secured bp the lien of this Mortgage. _ Toper~n~t, commit, or suffer no waste, impairme.~nt or deterioration of said prapert}, or any part ihereof, and upon the failura of the mortgagors to keep the buildings oa said p~operty in good condition of repair, the Association may demand the immediate repair of said buildings or the unmediate repayment of the debt hereby socured, and the failure of the awrtgagors to complv~with saId demand of the Association for a period of Thidy (30) duys, shall constitute a breach of this ge, and, at t~c optioh of the Association, immediatelyr mature the ent~ire amo~mt of ~incipal and interest hereby secured,~tl~e Association, immediately and without notice, may institute proa,~edin;s to forecbse this mortgage snd app]v for the appomtment of a Receiver, as heteinafter providerl. 5. This matgage ca?tract protiides for additional advanc~a which may be made at tbe option of tbe association and secured by this mostgage, and it is agneod that in the eveat of s~ch advances tLe smount may be added w the mortgage debt and shall increa~e the unpaid balanoe of the note hereby sectmd by the amoimt of s~ch advanee and shali be a part af said note indebtedness under all the terau of said note and this contract as fully as if a new such note and oontract were executed and delivered. M additional advanoe agreement may be g~ven and aocepted for such advance and provision may be made for different mont6lY P~Y~°ts and a diffecent interest nie and other modifications of the contract, but a~ aIl ather respects this contrad shaII remaia in full foroe and effect as to said indebte~, roduding sIl advances. 8. If any of t6e snrna of maory herei~n e i to be not P~P~Y ~~Y P~ '~~Y days next after the same severally come due and payabfe, or if each and every the stipulations, agree~nent, conditions, and covenanb of said Promis~' note and this deed~ o~ are not duly pdfarmed, oomplied with and abided by, the aggaccgate sum mentianed in said pro~mLssory note and any other amonnt ar amoimb sdded to tbe mortgage indebtedness under t}~e ternu oE this mortg,age shall beoome due and payable forthwith or ~fter at the optioa of the Associ~tian, as fuDy and oompletely as if said aggregate sum of money was ori~nally stip~ilated b be psid on s~ch day, anY~~B ~ Pr'~'~Y note or herein to the contrary tat- ""it}u~aadm& T. To ddivtr to the Association, on or before March 15th, of each ye~r, ta~c receiP~ ~"8 ~ PnYme~t of all law- fully imposed taxes for tbe prececling calendar year; m deliver to the As~ociation receipts evideflci~ng the payment of all lie~u for publ~c improvezoeats withum ninety (90) dtys after tbe ~me shall beoome dne aud payabk, and w pay or discharge within ninetY (90) days aker due date, any and all govern,mental levies tbat may be made m che mortgaged property, on this matgage or note, or in any other way n~sulting from the mortgage indebtedness secured by this mortgage. ~ - ~T dDOK18~. ~~.170 ~ ~ ~ . ~ _ - . - - _ .