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HomeMy WebLinkAbout0698 ~ . ~ F i ~t all timespeuce-ably and quiedy to enter upon, hold, occupy and ~nj~~y saiJ l.?nd; that s:?id la~J is free from all encumbrar?ces; j that they will malce such fu~ther asstu~ances to parfect the fee dmple titte to s~id Iand in the Associatios as mav reasonably be ' rc~uired; ~nd that they do hereby fully warrant the title to aaici land nnd ~vill defend the same against thc lawful claims af S a!1 persons w}wmsoever. PHOVIDED ALW~ITS that if the 111ortgagurs shall ~r~ell und tndy pay unto d~e Association, th~ indebteciness evidenced by that ceriain prc~missory note, of e~e~? date hetewith, made bv the rlortgagors und p:?~:?ble to the Associatio~, in th~ principal ' 3 t .um oE ~,S.~TF~~N.T~iOUS,~A?lYA_ANA NO/lOQ-.---------------------- ~ll:~rs (3 16, 000.00 s ~~~hich note, together Kzth interest thereon ;u themin s~ecifiecl, is payablc in munthly installments of ONE HUII~DR,ED j TWENTY-SEVEN AND ?6/100---------------------------------------------------- ' • ; - - _ . notlars (s _ 12?. 76.- - on the_ 2~__ day of each month c~mmencing with _ _ ~VI33~CI1__Z~a._.19TL-- - - - which payments are to be ;?pplied, first to interest, and the balanc*e to principal, u~itil sa~d indebtedness is paid in full, and shall perform, oompIy with and abide by each and every the stipulations, agreements, conditions und covenants of raid promissory note and thu modgage, Md, including any advances made by the Association to the Mortgagors, or their successocs in tit1C, for any purpose, i at any time before the mlease and canceltution of this mortgage, but at na time shall this mortgage secure advances or~ account of said original note together with such additia~al advances in a sum in eacesa of___SIXTEFIIT__TH.OII$~lYD_A1~II,2____. _ NO/100--_-----_-----------_---_------_-_-------- Dollars (s.16~ 000..00 plus any advanccs necessarv to protert the sectuity and cosis, then this deed and the estate hemby created sh~li ceuse and be nult and void. ~ AND THE ~1iOR'PGAGORS DO hc re6y cvvenant and agree; 1. To pay all and singular the principai and interest and other sums of money payable by virtue of said promissory note .?nd this modgage, ar either, promptly on ihe clays rPSpectively the same severaUy come due. 2. To pay all and singular the taxes, assessments, levies, liabitities, obligations anci incumbrances of every nature and kind now on said dcscribed property, or that here~after may be imposec~ , suffcred~ plucecl, levied, or assessed thereon, or that hereafter may be levied or assessed upon this I?~ortgage, or the indebtedness secured hereby, cach and every, when due and payable, according to la~v, before they become cklinquent, and before any interest attacht~ or any penalty it incurned; and inwfar :u any thereof u of record the same sl~all be promptly s:itisfied and dischargerl of reoord and the original official document (such as, for irutance, the taz receipt or the ratisfaction paper officially endorsed or certified) shall be placed in the hands of said Association as ~tortgagee within ten days next after payment; and in the event ihat any thereof is not ~raid, saticfied and discharged, said Association may s?t any tirne pay the same or any part thereof ~~tithout waiving or affecting any option, lien, equity or nght under or by virtue of thu !ltortgage, and the full amount of each and every such payment shall be immecliately due andpa yable and shall bear interest from the date thereof until paid at the rate stated in the note serun~cl hereb• and together with such inter- est shall be senireci by the lien of ihis I~iortgage. " _ 3. 1'o keep the buiWings and all equipment a~~d personal propeny now+ or herrafter on uid p'remixs covered br this mortgage. insured in a sum equal to at least thc amount o( the mortgage, or an amount sutticient to rnmplr writh anr co-insurance requitt- ment covering the same under the Iaws oi the State o[ Fbrida, mrtring loss lrom both tire and storm, making the loa under said policies. each and every, payable to the Association, as mortgagee, as its interest may appeu. and said insurance shall be in a good and raponsible insurance company satitEactory to said Association, and written by a respotuible local agent satisfaceory to said Asao- r ciatio~; and the poliry or policia shall bear a standard mongage dause wi[hout contribution, and, it the original principal amount ~ oi the mortgage is Fifty Thousand and no/100 Dollan (~50,0OO.Op) or in rxcess thereof, shaU be hdd br the Assotiacion, and, in the event a~y sum oE money becomes payable under such policp ot policia, the Association shall luve the option to receive and app1Y the same on account o[ the indebtedness hertbY secured, or to permit the mortgagoa to reoeive and use it, or any put thereof, for other purposes, without thereby wai~ing or impairing any equity. Iien, or right under and by virtue of this mortgzge, ,u~d mar place and paY for such insurance, or anp part thereof, without wair•ing or aflecting its option to fortclose. or any right hereunder. and the full amount o[ each and every such payment shaII be immediately due and payabk and shall bear intetat {rom the date shereoE until paid at the nce stated in the noee secured hereby and eogether with suc6 interest shall be secured by the lie~ oE this Afortgage. 4. To pern~it, rnmmit, or suffer no waste, impairment or deterioration of s:~id property, or any part thereof, and upon the failuro of the mortgagors to keep the buildings on said property in good condition of repair, the Association may demancl the immerliate repair of said buildings or the immediate nepayment of the debt hereby sccured, anil the failure of the mortgagon to comply ~vith said demand of the Association for a period of Thirty (3p) days, shall constitute a breach of this mortgage, and, at thc option of the /kssociation, immediately mature the entire arnount of principal and interest hereby secured, and the Assoeiation, immediately and without notiee, may institute pmcxeclinos b foreelose this mortgage and apph~ for the appointment ~f a Receiver, as hereinaker provided. 5. This morigage contract ptovides for additional advances which may be made at the option of the association und serured by this martgage, and it is agreed that in the event oE such advances the amount may be added to the modgage debt and shall increase the unpaid balanoe o{ the note hereby secured by tbe amount of snch advance and shall be a part of raid note indebtedness under aIl the terms of said note and this contract as fully as if a new such note and contraM K•ere exeruted and delivered. An additional advanee agreement may be given and accepted for such advanc~e and provision may be made for ciifferent monthlv pa,vments and a diffenent inter~t rate and other express modificatio~s of the cantract, but in all other respects this rontract shall remain in full force and effect as to said indebtedness, including all advances, 6. If any of the sums of money herein referred to be not promptly and fully paid within Thirty (30) days next after the same severally come due and payable~ or if each and every the stipulations, agreement, conditions~ and covenants of saict promiswry note and this deed, or either, are nd duly pertormed, complied with and abided by, the aggngate sum mentianed in said promissory note and any other amount or amounts added to the mortgage indebtedness under the terms of this mortgage shall become due and payable forthwith or thcreaher at the option of the Association, as fuIly and completety as if said aggregate sum of money was originall,y stipulated to be psid on such day, anything in said promissory note or herein to the contrary not- withstu?din~ T. To deliver to the Association, on or before :1larch 15th, of each year, tax receipts evidencing the peyment of all 1aw•- fally imposed taxes for the jxeceding calerrdar year; to deliver to the Association rei,~eipts evidencing the payment of aD liens for public improvements within ninety (90) days aker the same shaU hocomc due and payable, and to pay or discharge within n~nety (90) davs after due date, any and all govemsnental ]evjes that may be made on the ~nortgaqed property, on this mortgage nr note, or in any other way resulting from the mortgage ;ndebteclness secureci by this mortga~e. . Boox1~U 6y5 . ~ _ _ e _ . - - ~ - - 1~.