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Home My WebLink About0505 r f ~ at ~U Nmesp racrably and y~ueHy to cnte~ u~wn, haid, cxru ~y und tt1~t~Y S:1N~ I.u~d; that s:~ic1 !a~?~i is (n~e from uU cncumbrunces; that they v~~iil make such furiher assurances to perfect the ~ dmple titls to swid land in the Asa~ciation as mav n~uson:?bly lx• ~ n~,ui~rd; u~d that they do hereby fully warrant the title to said laiid and ~~~il) de(cod thc+ ~:tme u~.~inst N~e (u~~~ful cl:~iins ot ~ :;il pc~is ~a~iximsoevcr. . PRC~~'InFI) AI.\~'Al'S thut if tik~ \lurtg:?~urs shall ~vrl) ;u~d tndy ~x~~~ wito the :1c.~x~i;ition, th~~ in~iehi~~lne~.~ ~•~•idenced ~t~~ thut cc~tain Ex~omissory »O~C~ OE C~hC11 di~C f18[C~~'1~ I[1~~0 b~' t~lC ~~U~i('y:t~,~i(a .~i~~~ i}.+t.i~i~(` ~i~ ~lia' .i:.: ;ii-::i4iii:I, iil ~~~s• ~t-ie~^sixt! ~ . . ~ :i~m oE ONF HUNDRF.D EIGHT TH~USAND AND NOa00------------ 1~~11:?rs (3 108~ 000. 001. ~ .~hich note, t~~ether ~~~th interrst thereon at the rate specified. i Principa]~ shall be due and payable in full on April 30. I9?4. Interest shall be due and t € payable monthly commencing on the 20th da`y. of May 1971 and on the 20th da,y of each month ; thereafter unt~l. tYus_~ot~ is. ful~y paisl . _ _ ~ . ~ until said indebtedness is paid in full, and shall perform, comply ..~th and a ide by each utd every the stipulations, agreemer?ts, conditions And cn~~en:mts o[ said promissory note a~id this ~~R~ . then this deed and the estate hcrebr createcl shall cease and be null and void, AND THE ~~ORTGAGORS DO hereb} cvvenant and agccr: 1. To pay all and singular the principa1 and intemst and other sums of money payable by virtue of said promissorv rwtc .~ncl this mortgage, or cither, promptly on the days respectivel_y the same se~crally come due., 2. To pay aU and singular ihe taaes, a~nents, levies, liabilities, obligations and incumbrances of every naiure and kind ~ no~.~ ~n said de~scribed property, or thnt hereafter mav be im~, suifered, placed, levieci, or assessed therean, or that hemaficv j ma~• be le~~ecl or assessed upon this Mortgage, or t~e ind edness securec) hemby, each and every, when due and payable, ; .?ccor~ing to L~N, befure t?~ey berome delir~quent, and before anv interest attaches or anv penalty is incumed; and inco(ar ;?s i anv thereof is o£ rExord the same sliall be prompdy s:itisfied and dischargecl of record and the original official document (such ~ .u, for instance, the taa rectieipt or the satisfaMion paper officially endorsed ar certified) shali be placed in the hands of said ~ .~ssoci.~tion as \lortgagee wit'?in ten davs next after payment; and in the event that any themof is not paid, satisfied and discharged, said Association may at any tirce pay the same or any part thereof ~~~thout waiving or affecting any option, lien, equih~ or right iu~der or b~• ~zrtue of this ~fortgage, and the full amotu?t of each and everv such payment shall be immedialely due andpa yable ~ :znd shall bear interest from ihe date thereof until paid at the r.?te stateci in the note secureci hereb~~ and together with such inter- c~st shall be secured bv the lien of thic ~tortgage. ~ 3. To tetp the buildings and all equipment aiai personal property now or hercafter on sanl premisa covered br thu mortga~t. i~uured in a sum equal to at kast the amount o( the mortgagr, or an amount sufficient to ~omp~y rrith any co•insurance require- ' ment cmering the same under the laws o[ the State of Florida, mvering loss irom both fire and storm, making the loss under :aid policies, cach and nery, payable to the Associatiou, as mortgagee, a~ iu interest maY appear, and said insurance shall be in a good and raponsible insurxnce company satis(aaory to said Association, and written by a rrsponsibk local agent satis[actory to said .1sao- ~ ci~eion: and tht policY or policia shall bear a standard mongage cfause without rnnuibution, and, if the originai principal amount of [he mortgage is Fifty 'I'housand and no J 100 Dolla~s (s50.000.00) or in excas cherrof. sh~A be held by the Association, and, in ihe e~•ent an~ sum ot money becomes payable w~der such policy or policies, che Association shall have the option to receive and appiy che same on acaount of th~ indebcedness hereby securrd, or to permit the monga~ors to receive and use it, or any pan thereof, for orher purposc~s, without thereby waivir?g or impairing ~nY tquitv. lien, or right under and br vittue of tha mortgage. and ma~ pfacr and pay (or such i~aunnce, ot any part thereo[, without wai~ing or aiEecting its option to iorrclose, or any right hetrunder. and tht full amount oE each and every such payment shall be immediately due and parabie and shatl bear interest friom the date ~ ~hereot until paid at the nte suted in the note secur+ed herebr and wgether with such interat ihall be secured by the lien oE this liortgage. i 4. T'o permit, commit, or suffer no waste, impairment or detcrioration of said ~mpert~•, ur :u?y part ihereof, and upon thP failiuv of the mortgagors to keep the buildings on said propertv in goocl condition of repair, the Association may demand the immediate repair of said btuldings or the immediate repayment of the debt hereby scrured, ancl the failure of thc mortgagors t;~ eomply w-ith said demand of the ,~ssociation for a period of Thirty (30) day5, shall constitute a breach of this mortgaRe, and, at thc option of the AssociaHon, immediatelv matvre the entire amount of princijxil and interest herebv secured, and the ~ssociation, immediately and ~~thout notiee, mav institute procxeciinas to foreclose this mortgage and apph• for the appointment nf a Recei~•er, as hereinaker ptovided. ~ ~ < This mortgage contract ~xovides for additiunal advances w•hich mav be made at the option of the association and ~ ~ecured bv this mortgag~, and it is agte~d that in the event of such advances the a.-nount may be addeci to the mortgage debt and shaII increase the unpaid balance of the note hereby secur~ed by the amount of such advanc~e and shall be a part of said note indebtedness under all the tams of said note and this cantract as fully as if a new such note ;u~d contract w~cre excxuted lnd delivered. M additional advance agreement ma~• be given and accepted for such advance and provision ma~- be made for ~?ifferent monthh• payments ~nd a diffe~rent interest rate and other express modifications of the contract, but in all~other resperts ~ his contrad shatl remain in full fonce and effect as to said indebteclness, including a!E advances. ~ 6. If any oE tbe sums of maney herein referred to be not promptly and fuliy paid Kithin Thirty (30) days next after the same sevrral}y c~ome due and payable, or if each and every the siipulations, agreement, conditions, and covenants of saicl Promissory note ancl thit deed, or eitber, are na duly performed, compiied with and abided by, ihe aggregate sum mentioned ,n said promiaory note and anv other amount or amounts added to the mortgage indebteclness under the terms of this mortgage shall beoome due and payabk fortbwith or thereafter at the option of the Association, as fuDy and completely as if said ag~regate 7m~~ was oagu~al}y stipulated to be paid at such day. anvthing in said pramissory note or herein to the contrarv not- & ~ 7'o deliver to the Association, on or before ~famh 15th, oE each year, tax receipts evidencing the payment of all Iaw•- f~iliv impo~ed ta:es for the ~xeceding ralendar vear; to deliver to the Association n~ceipts evidencing the payment of all liens f~r public im err~ents wit}un ninet~, (gp) days after the same shall hecome due and parable, sind to pay or discharge within ~ n ninety (9p) vs after due date, any and a1t govemmencal levies that may be made on the mortgaqed pru~erty, on Ihis mortRrge ~r note, or in any ather wap msuJtinq from the mortgage indebtedness secureYl bv this mc~rtg~ge. ~ ~ 192 503 , . _ _ ~ - , - , ~.=~~t~~,~-°~,~".~~ ~ - ~ . -