HomeMy WebLinkAbout2986 at all timespeaceably and quietly to eater upon, hu1d, oca?py and enjoy s~d land; that said land is free from all encwnbrances:
thatthey wiII mike soch further asautanoes ~o perfed th~a fee dmple tide to said land in the Association as may reusorwbly be
required; and tbat they do hereby fully warrant the title to said land and ~viA defend the sume against tl~e la~vful claims of
all peisona whotnscever.
PROYIDED ALWAYS thut if the Mortgagors shaU well and tnily pay unto tlie AssociAtion. the indebtedness evidenced
by that eertain promissory nobe, of even date be~'ewitb. aw?de bY the Mortgagors and pay~able to the Association, in thc princip~l ,
S,~p ~ _FIVE__Z'HOUSAND_SEVEN ~I1~IDRED.AI~IA_ N4I140--.-------_-- non~~ (a 5, ?00..00
which note, together with interest thereon as therein specified, is pay~ble in monthly insiallments of FIFTX-~IX .l~ND .
9?/100--------------------------------------------------------------------
- - - . . . nollsrs (s . _56..97 -
on the------ 5~---------~Y of each month commencing ~vith----- .-----!1u~-5a__ 1970-----------------------------------.----which payments
are M be npplied, first to interest, and the balance to principal. until said indebtedness is paid in fuD, and shall perform, aomp1y
with and ab&le by each and every tlie sh~ tions. agreements. conditions and covenants of said promissory note and this
mortgage, And, including any advances made by the Association to the Modgagors, or their suocessors in tidC, for any purpose,
at anv ~~o~ ~e ~iesse and cancellation of thLc nwrtgage, but at no time shall this mortgage secure advances on account
of said original note together with such additional advances in a sum in eacess of-~'tl~'i--'lI~QU..~~ _~.Fi_vErl_______
HUNDRED AND NO/100-------------------~ollars (¢---5~_?00.00----)> plus anv advances neeessan•
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to protect the security and costs, then this deed and the estate hcreby created shaU cease and be null and void.
AND THE 11iORTGAGORS 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 tF~e days respectively the same severally come due.
2. To pay all and smgular the ta~ces. ass~mnents, levies,liabilities; obligations and incumbrances of every nature and kind
now on said described propeity, or that hereafter u?ay be impos~ , sufferecl. placed, levied, or assestied thereon, or that hereafter ;
may be kwied or as.s~ssed upon this Mo~tgage, or the indebtedness serurecl hereby, cach and every, when duc and ~ayable,
according to law, before they become delinquent, and before any interest attaches or any penalty ic incurred; and iruofar .u
any thereof is of record the same shall be promptly satisfied and discharged of record and the original official document (sudi ;
ss, for instance, ihe tas receipt or the satisfaction paper officially endorsed or cettified) shall be placecl in the hands of said ~
Associatioa as ~iortgagee within ten days next after payment; ~nd in the event that any thereof is not paid, satisfied and discharged.
said Association may at any time pay the same or any pazt theneof witlwut waiving. or affecting any option, lien, equitv or right
under or by virtue of tbis ~liortgage, and the full amount of each and every such payment shall be immediately due andpa
yable
and shall bear interest from the date thereoE unti~ paid at the rate stated~ in the note secureci hereby and together ~rith such inter-
' est shall be secured by the liea of this Mortgage. - -
3. To keep the buildin~ and all equipment and pe~sonal property now or hereatter on said premixs covered by this mortgage.
insured in a sum equal to at least the amount oE the uangage; or an amount sufficient to mmply with any co-insurance require-
ment oovering the same under the laws of the Stace of Florida. mvering loas [rom both tire and stotm, making the loas under said
policies, each and every. payable to the Association, as morcgagee. as its interest mar appear, and said insurance ahall be in a good
and responsiWe insurance oompany satisEaaory co said Assodation, and written by a nsponsible local agent satisfactory to said ~1sso-
ciation: and the policy or policies shall bear a standard mortgage clause without contribution, and. if the orig~nal principal amount
of the mortgage is Fifty Thousand and no/t00 Dolla~s (~50.000.00) or in extesa thereof, shall be held by the Association, and, in
~ the event any sum of money beco~nes payable under such policy or policies, the Association'shall have the optiaa to receive and applY
j the same on acnount of the indebtedness hereby secured, or to permit the mongagors to receive and use it, or any part thereof. for '
~f other pur~wses, without therebp waiving or impairing any equity. lien, or right under and bp vinue of this mortgage, and may
! place and par for such insunnce, or any part thereof, without wai~~ing or af[ecting its option to foredose, or any right heteunder.
'f and the full amount of each and every such payment shall be immediately due and payable and shall bear interest [mm the date
i ehtreof unW paid at the nte stated in ehe note secured hereby and together wieh.such interat ahall be secured by the lien of this
Mortgage.
4. To permit, commit, c,r suffer no waste, unpairment or deterioration of ~said propert~•, or :my part thereof, and upon
the failuro of the mortgagors to keep ihe buildings on said property in good condition of repair, the Association may demand the
immediate repair of said buildings or the immediate repayment of the debt hereby sectued, anJ the failure of the mortgagors
~ to oomply with said demand of the Association for a period of Thirty (30) days, shall coustitute a breach of this mortgage,
~ and, at thc option of the Aaociation, immediatel,v mature the entire amount of principal and interest hereby secured, and the
Association, immediately and without notice, may institute pioc.eedin;s to foreciose this mortgage and applv for the appomtment
of a Receiver, as hereinafter provided. -
5. This modgage caitraM provides for additional advances ~vhich may be made at the option of the association and
sectmed by this mortgage, and it is agrecd that in the event of such advances the amount may be added to the mortgage debt
and shall increase the unpaid balance of the note hereby secured by t6e aznount of such advance and shall be a part of said
note indebtedness urtder all the terms of said note and this contract as fully as iE a new such note and contract ~~•ere eaecutecl
and delivered. M additional advance agreement may be given and accepted for such advance and pmvision may be made for
_ different monthlv pa}znents and a difEerent interest rate and other eapress modifications of the contract, but in all other respects
~ ihis contrad shzll remain in full force and effect as to said indebtedness, incloding all advances:
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~ 8. If any of the sums of money herein referred to be not promptly and fully paid within Thirty (30) days next after
~ :he same severally eome due and gayable; or if each and every the stipulations, ao
eement, conditions, and covenants of said ;
~ promiswry note and this deed, or either, are not duly performed, complied with and abided by, ihe aggregate sum mentioned ;
~ in said promissory note and any other amount or amounts added to the mortgage indebtedness under the terms of this mortgage '
shall bec.~ome due and payable 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 conirarv not-
withstanding. ' • . -
" 7. To deliver M the Association, on or before ~4arch I5th, of each ~~ear, tax receipts evidencing the payment of all laH--
~ fully im~ taxes for the precetling calendaz year; to deliver to the Association receipts evidencing the ~yment of all liens
~ for pub unprovements within ninety (90) days aker the same shall hecome due and payabk, and to pay or discharge within
~ ninety (90) days after due date, any and al) govemmental levies that may be made on the martgaged property, on this mortgage
~ or note, or in any other way resulting from the morigage indebtedness secured by this morigage.
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