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HomeMy WebLinkAbout1551 at all times pcacrably and quietly to enter upon, M?Id, ~xrupy aiid cnj~~~~ said I:ind; that s:iid luud is [rcr from all encunibrznces; th:ct they will make such further assurances M petfect the fee simple tide to s:iid land in the As.wciation as mav re:?so~iubly lx nYliurecl; and that they do hereby fully warrant the tide to sstid L•wd and ~vill defend the same :~gainst the la~~•ful cluinu of .;II ~xnons ~~~humsocvcr. PROYIDED AL~~'AYS th:tt if the ~lurt~;a~;urs shall ~~'ell and tndy ~:t~~ unto the ~s~x•iution, thr iu~lrbt~~cLerss ~w•idcti~ced in• that crrtain pmmiswry note, of even date herewith, made bv the \fortgagors and ~xi~:?blt• to thc A~.~x•i;dion, in th~ princilxil .~~m oE TWELVF. THOUSAND AND NO/100------------------""" lS 12, 000. 00 ~.hich note, together ~~~ith interest therc~m as themin specificd, is lx~~:~l,lr in monthlv installmet?ts of ~NE HUNDRED FOUR AND 14/100------------------------------------------------------------- ' ~ll~r~ ( s 104. 14 ) . - . _ ~ un ~h~ 19th d:?y of each month a~mmenciug ~vith Mar~h _19~ ~9?~ . _ ~+•hich ~rayments .~re to be :~pplied, first to interest, and the balance to princip:?1, until said indebtedness is paid in full, and shall perEorm, eomply ~~~ith and abide by each and every the stipulateons, agmements, conditions and covenants of said promissorY nate and thic mortgage, And, including an~ advances made by the Association to the ~tortga~ors, or thcir succc~ssors in tide, for any purpos~, at anv time before the mlease and cancellation of this mortgage, but at no time shall this mortga~e secure advances on acrnunt of s:iid original note together ~vith such additional advancrs in a sum in e~cess of ._T~fI~LV~. TH4U_SAIYD.AND.- ; NO~100---------------_----------_---_------ Dollars (S 12, 000. 00 ~lus any advances necessan• ' tu proteM the security and costs, ihen this deecl and the estate hcreb~~ created shall cease and be null and void. AND THE ~fORTGAGORS DO hereby cv~enant and agrec: 1. To pay all and singular the principal and interest and otlier sums of money pa~•able by virtue of said prumiccorv nute .~~TCI this mortgage, or either, prompdy on the dati~s respecti~ely the same severally come due, To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of even~ nature and kind nu~v on said dc~scribed pmperty, or that hem~fter mav be imposed, suffered, placed, levied, or as~cessed thereon, or that hemafter rna~• be le~~ieci or assessed upon this `tortgage, or the indebtedness secured hereb~~, r.uh a~id e~~ery, ~~~hen due and payable, .~~rording to law, before they become delinquent, and before anv interest attaches or am~ ~enalty is incurred; and insofar :?s .~nv thereof is of rec~rd the same shall be prompdy s:itisfied ancl dischsrgecl of reconl and the original official documcnt (such as, for instanee, the tac reeeipt or the satisfaetion paper offieially endorseci or certiEied) shall be plaeecl in the h~nds of said .~ssxiation as \tortgagce K~thin ten days next after payment; and in the event that anv thcreof is not ik1id, satisfied and dischargcd, said Association ma~• at any time pay il~e same or a~ry part thcreof ~«thout ~ti•aiving or affecting any option, lien, equit~~ or right tmder or bv virtue of this \tortgage, and ihe full amount of cach and every such pa~tinent shalt be immecliately due aiul~a yable • t and shall bear interest fmm the date thereof until paid at the r.ite stateci in the note secured hereb~• and togeth~r with sucl~ inter- ~ ` ~~t shall be secured by the lien of this Mortgage. ~ j 3_ To keep the buildings and all equipment anet personal property now or hema[ter on said premises covered by this mortgage. i insured in a sum eyual to at least the amount of thr mongage, ot an amount sufEicient to comply with any co-insunnce requirr- € ment mvering the same under the laws of the State o[ Florida, co~~ering loss [rom both fire and storm, making the loas under said ; ~blicies, each and every, payable to the Association, as mortgagee, a~ its interest may appear, and said insurance shall be in a good ! a~~d responsible insurance company satisfactory to said Association, and written by a responsiblt local agent satis[actory tu said Asso- ~ ~iation: and the poticy or policies shall bear a staudard mongage clausr without contribution, and, i[ the original principal amount s ot the mort~age is Fi[ty Thousand and no/100 Dollars (~50.000.00) or in excess thereof, slull be held by the Association, and, in ~ the e~•ent any sum of money becomes payable uuder such policy or policies, the Association shall have the option to receice and applr ; the same on account o[ the indebtedness hereby secured, or to permie the morcgagors to receive and use it, or any part thereof, for ? ~ other purpcues, without thereby waivinR or impairing any equity, lien, or right under and by virtue of this mortgage, and may S place a~id pay [or sach insurance, or any part thereo(, without wai~~inK or aftecting its option to [oreclose, or any right hemunder. : ~ and the tull amount of each and every such payment shall be immediately due and payable and shall bear interest (rom the d~te a = ehereot until paid at the rate stated in the note secured herebr and together with such interat shall be secured by the lien ot this = t ~ 1[ortgage. ~ s ~ -1. 7'o permit, commit, or suffer no w•aste, impairment or dMerioration of said prupert~•, or any part thereof, and u~wn ` ? the failure of the mortgagors to keep the buildin~s on saicl propert~~ in goocl condition of repair, the Association mav demand the ~ immediatc re~ir of s:~id bu~ldings or the immediate rejx~~Tnent of the debt hereby secured, anJ the failare of thc mortgagors ~ to compl~ ~vith said demand of the Association for a Periocl of Thirty (30) da}~s, shall constitute a breach of this mortgage, - and, at thc option of the Association, immediateh~ mah~re the entire amount of principal and interest herebv secured, and the ~ ~smciation, immediately and without notice, may insiitute procceclinRs to foreclose this mort~a~e and apph• for the appointment ~ nf a Recei~•er, as hereinafter pmvided. S. This mortgage contraet provides for adclitiuna) advancrs ~chich ma~• be made at the option of the associ:~tion and ~ secwed bv this mortgage, and it is agreed that in the event of such advances the amount may be addeel to the mortgage debt and shall increasc the unpaid balance of the note hemb~ secured by Ihe amount of such advance and shail be a part of said ~ note indebtedness under all the terms of said note and this contraet as fuUy as if a new such note and contract ~c~re executecl ' ~ :~nd ~leli~~ered. An :idditional advance agreement ma~• be giren and accepted far such advance and provision ma~• be made for ~ clifferent monthlv ~}•ments ~n<i a different interest rate and other express modifications of the contracs, but in :ill other respects ~ ~s ~his contr,tet shall remain in (ull force and effect as to said indebteclness, including all advances. ; ~ , 6. If any oi the sums of money herein referred to be not promptly and fullv paid w•ithin Thirty (30) days next after ~ the same severally come due and payable, or if each and everv the stipulations, agrcrment, conditions, and covenants of said ~ Promissory note and this deed, or either, are not duly performed, cc~mplied with and abided by, the aggregate sum mentioned ~ in said promissory note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage ~ x shall become due and pa~~ble forthwith or thereafter at the option of the Association, as fully and completely as if said aggregate• ~ sum of money was originally slipulated to be paid on such dav, an~~thing in said promissory note or herein to the rnntrarv rn?t- = u~thstanding. - - ' =4 To deli~•er to the Association, on or before ~iarch 15th, of each year, tax receipis evidencing the payTnent of all IaN•- ~ Eully im[~1 taxes for the prececling ralendar vear; to Jeliver to the Association receipts evidencing the payment of all liens ~ for pub il"c improvements K~thin ninety (90) days after the same shaU hecome due and payable, and to pay or discharge within ~ ninety (90) da~~s after due clate, any and all govemmental levies that may be made on the mortgaQed property, on this mortRage ~r note, or in any other way msultin~ fmm the mortgage indebtedness secured bv this mortga~E~. Y~ ~ ~ 190 15 4~ ~ ya~. a~ox ~ ~ . ~ - . ~ _ - : _ _ ~ ~ ~~~ts ~ - = - _ ~ _ . ~ .