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HomeMy WebLinkAbout2434 t ~ a1 aU timespca ~~.Wy anc! quietly to c+~ter u~~. hukl. ucru l~y rud ~~irw suKl lu~Kl; tlwt u~K1 la~Kl is f~ir: f~w~ s?11 ~~~cumiuiu~ccs, th:~t ~hr~ will nwke such furtl~e~ asa~nt~ce~ P°~f°d t6° fes dm~k t~tls to said i~t~d in the Awxi:?t'rm as mav rraswwl~ly lx• n~~uirrd; snd that they do hercby hdly warttnt the titb to s~iJ land uud ~v:?1 de(cnd tIM srtnr ukui~~st tIH• I:~~~~tul cLun~s of .?II ~x~ruN~s aM.msawcr. PRO~'1DEU AL\\'~l'S tiwt if tl~c \lurt }?,a~ors chsll wcll aud tnd,v ~+y w~to tl~c Ass~x•iatNx~, tM• i~id~•btcdness ~•vidc~K,~ecl 1» thnt cettain promissory note, of even date hecewIth, m~de bv the ~lortgag~n aml pu~:~ble ti~ the Asc~x•iutioo, iu th~ princi~~al .~~m of EI,+EVEN THOUSAND FOUR HUNDRFD AND NO/100---------IM14~rs (a 11, 400. 00 1. ~~~hich note, together ~~th interest thereon as thercin sl~eclFiecl, is ~x~val~k in m~mthlv installments of 1vINETY-EIGHT AND 95/100---- - - nollars (s 98. 95... _ on the . 20th d:ty of each month commencing ~vith Febru.ary 20.--1-971 - - which p4yments - ;ue to be +ipplied, first to interest, and the balance to princyp~l,_until said indebtedness is paid in full, and shall ptrforno, oomp}y with and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and thu mo~gage~ And, including aay advance~t made by the Association to the Mo~tgagors, or their successors in titlr, for any pu~pose, at anv time before the release and cancellation of this mottgage, but at no time shall this mortgage secure advances on account of raid original i+ote together with such additional advances in a sum in excess of__ E~VEN_THOUSAND_FOUR_ _ HUNDRED_ AND_ NO,(100 - - - - - - - - - Dollars ( s . 11,~ 400.:00 plus any advances necessan• to protect the security and costs, then this deed and the estate hereby createcl shall cease and be nnll and void. AND THE riORTGAGORS DO hereby cvvenant and agree: 1. To pay all and singular the principa1 and interat and other sums of money payable by virtue of said promissory note " :md this mortgage, or either, promptly an the days rapenivelY the same severally come due. 2. To pay all and singular the taaes, ass~ents, levies. liabilities, obligations arxl inc~unbrances of every nature and kind now on said desctibed property, or that hereafter may be imp~s~ suffen~d, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon this I~iortgage, or the indebtedness secwecl hereby, cach and every, when dne and payable, 3ccording to law, before they become delinquent, and before any interest attaches or any penalty it incurred; and insofar :u ;my thereof u of rocord the same shall be promPdY satisfied and discharged of record and the original official document (such ss, for inttance, the tax receipt or the ratisfaction paper officially endozsed or certified) shall be placed in the hands of saicl Association as tiiortgagee within ten days ne~ct after Payment; and in the event that any ihereof is not ~reid, satisfied and discharged. said Association may at any time pay ,t1?e same or any part thereof ~~zthout waiving or affecting any option, lien, equity or righ~e under or by virtue of this ?ltortgage, and the full amount of each and every such payment shall be immediately due andpa yab and shall bear interest from the date thereof until paid at the rate stated in ihe note securecl hereb~• and tot;ether with such inter- est shall be secured by the lien of ihis 11~ortgage. 3. To keep the buildings and all equipment and penonal propeny now or tsereatter on said premixs covered by this mortgage, insured in a sum equal to at least the a~unt oE the mortgagr. or an amount suificient to comply ~vith any co-insunnce reqnire- menc rnvering the same under the laws of the Sta[e o[ Fbrida. mvering loss from both fire and stoim. making the loss under uid policies, each and every, payable to the Association, as mortgagee, as its interest may appear. and uid insunnce s6a11 be in a good and raponsible insurance company satisfactory to said Association, and written bp a responsible local agent satisfutory W said Asso- ciation: and the polic~r or policia shall bur a standard mongage dause without mntribution, and, iE the original principal amount o( the moregage is Fi(ty Thousand and no/ 100 Dollan (i~.~•~) or in excas thereot, stull be heW by the Asaociation, and, in Ii the event any sum of money becomes payable under such poliry or policia, tfie Aaociaeion s6a11 have the option to receive and applp I the same on acoount o[ the indebtednas hereby secured, or to permit the mongagois to receive and use it, or any put thereof, for ~ other purpoaes, w+ithout thereby waiving or impairing any equity, lien, or right undtr and by virtue oi thi~ mortgagt, and may ! plaee and pay for such insunnce, or any p~rt thereoE. ~vithout waiving or atfecting its option to Eorecbse, or any right hereunder. ~ and the tuU amount of each and every such payment ahall be immediately due and payable and shall bear interat fmm tht date ~ thereof unW piid at the nte stated in the note secured herebr and together ~vith such intetat shall be secured by tht lien oE thi: llfortgage. ~ ~ 4. To permit, commit, or suffer no waste, impairment or deterioration of said propert}~, or :iny part thereof, and upon ~ the failuro of the mortgagors to keep the buildings on said property in good condition oE repair, the Association may demand the ~ immediate repair of said bu:ldings or the immediate repayment of the debt hereby stxured, :u~d the failure of the mortgagors ~ to oomplv with said demand of the As.sociation for a period of Thirty (30) days, shall constitute a breach of this mortgage, ~ x and, at t~e option of the Association, immediately mature the entire amount of ~xincigal and interest hereb secured, and the Association, unmediately and without notice, may institute prooeedin;s to foreclose this mortgage and applv or the appointmei?t ~ oE a Aeceiver, as hereinafter provided. ~ 5. This matgage contraM provides for additional advanc~s ~ahich may be made at the option of the association and ~ secure~ by this mortgage, and it is agreed that in the eveat of such advances the amount may be added to the modgage debt ~ and shall increase ibe unpaid balanoe of the note hereby senued by the amount of such advance and shall be a part of said k note indebtedne:c under sIl the terms of said note and this contract at fully as if a new such note and oontr~act W~ere executed ~ :,nd delivered. M additional advance agreement may be given and accepted for such advance and ~xovicion may be made for ' different monthlv payments ~nd a different interest rate and other ex~ a~odifications of the contract. but in all other respects a ~his contrad shall remain in full force and effect as to said indebtedneu, includiog all advances. ~ 8. If any of the sums of mooey berein referred to be not promptly and fu11y paid withio Thirty (30) days next after ~ the same severally come due and payable. or if each and every the sripulations, agreement, conditions, and covenants of said - promissory note ancl thia deed, or either, are not duly performed, complied with and abided by, the aggnegate sum mentianed in said promisuxy note and any ot}~er arnount ar amoants added to tfu mortgage indebtedness under the terms of this mortgage shail beoome due and payable forthwith or t}~creaher at tbe option of the Association, as fully and rnmpletely as if said agt{regate ~ sum of money was original}y stipulated to be paid on such day, anything in said prornissory rwte or herein to the contrarv rat- ~ wit}utanding. . ~ 7. ?o deliver to the Association, on or before March 15th, of each y~r, tax receipts evidencing the payment of aU lav~•- ~ fully unposed ta~ces for the Execerling calendar year; to deliver to the Associstian receipts evidencing the pnrnent of all liens ~ for public improvements wit6in nir?ety (90) days aker tbe samc shall hocomo due and p4yable, aacl to pay or discharge within ~ ninetr (90) days after due dste, any and all govemmental kvies that may be made on the mortga~ed pruperty, on thi~ mort~,~Re nr rwte, or in any other way resultinR fmm the mortgage inckbtedness serured by this mort~aRr. ~ s 2~ _ - - " .,~-°.~~.~~~~_~§>w.._,~u_ - "