The URL can be used to link to this page

Home My WebLink About1949 ~ at all timesp~aceably and quiedy to eatec upon, hotd, occupy and enjoy said Ir?nd; that s.~?id 1~nd 'u free from all encumbrances; that they will make such futther asturaticd ~o petfect tLe fee dmple titla to said land in the Association as may reasonably be required; and that they do hereby fully warrant the title to said tand and will defend the same agninst the l;avful claims of al) persons whomsoever, ~ ~ PROVIDED ALWAYS that if the I~lorigagors shall weU and tnily pay unto the Associatioo, the indebtedness evid~noed by that c~tain piumissory note. of evea date herewith, made by the Mortgagors and payable to the Association, in the principal sum oE ONE._HUNDR,ED EI_C~rHT.THQU$AI~TD_AND ~10f 1Q.Q---_--------- po~~„~ 108, 000. 00 ..~hicb note, coge~he~ .~tch ~ce~c ~~on _ at the rate specirled. Principal. shall.he due and payable in full.on September _10. 19?4. Interest shall be _ due ans~ p~yable monthl~r_commencing onthe_lOth da3r..c~f..~ctober .19T.1,~._and on th~. llJth - --d&Y-~~- e~ch_m+Qnth.#h.ere~fter_.until.thia.note is ful~y paid . - - , unW said indebtedness is paid in fuA, and shall peiform,S~pIy with and a ide by each and every the tions. agreements, ca~ditions and oovenanta of said promissory note snd this ~~8~. , tt~en this decd and the estate hereby created shAll cease and be null and void. AND THE MORTGAGOAS DO hereby cvvenant and agree: 1. To pey all and singular the principal and interest and other sums of money payabk by virtue of said pmmissory r~ote :u~d this mortgage, or either, promptly a~ the days respectively the same severelly mme due. 2. To pay all and singular the ta~ces, ass~nenb, Ievies, liabilities, obligations and iacumbrances of cwery nature and kind now on said desaibed p~perty~ or that hereaRer may be imp~s~d, suffered, p]aced, levied. or assessed thereon, or that hereafter may be levied or ass~sed upoa thit I~fortgage, or the indebtedness secured hereby, cach and every, when due and payabk, :~ccording to law, before they become delinquent, and before any interest attaches or any penalty is incur~d; and insofar as :u~y thereoE is of record the same shall be promptly satisfied and discharged of reoord and the orig~nal official document (such ~s, for instance, the tax receipt or the satisfaction peper officially endorsed or certified) shall be placed in the hands of said Association as Nortgagee within ten days next after payment; and in the event that any thereof is not paid, satisfied and discharged, said Association may at any time pay the same or any part thereof ~vithout waiving or afEecting any option, lien, equity or right under or by virtue of this ~~ortgage, and the full amount of each and everv such paymeot shall be immediate}y due andpa yabla and shall bear interest fmm the date thereof until paid at the rate stated 'in the note secured hereb~• and top,ether with such inter- est shall be secured by the lien of ihis Mortgage. 3. ?o keep the buildin~ and all equipment and penonal propertr nowr or hereafter on uid premixs covercd by this mongage. insured in a sum equal to at least the amount o[ the mortgage. or an amounc su[[icient w comply with any eo-i~urance require- ment covering the same under the laws of t6e St~te of Florida. mvering loss (rom both [ire and storm. ataking tLe lo~s under :aid poticies, each and every, payabte w the Asso~ciation, as mortgagee. as its interest mar ~ppeu, and uid insurance shall be iti a goai and responsible insurance rnmpany saeis[aaory to said Association, and written by a rapontibk local agent ~atis[aetory to said Asw. ciation: and the policr or policies shall bear a standard mortgage dause without mntribution. and, if the otiginal principal wiwunt o[ the mortgage is Fitty Thousand and no/100 Doilan (;50,000.00) or in exces~ thereof, s6a11 be htld br the As~ociation. and, in the e~~ent anr :um oE moner becomes payable under such policy or policies, the Association :hall have the option to receive aad apply the same on acoounc ot the indebtedness henby securtd, or to permit the mortgagon to uoeive and use it. or any part thp+eoE, for other purpases, without thereby waiving or impairing any equity, lien, or right under aad by virtue oE this mortgage, and ma~r place and pa7 for wch insurance, or anr part thereof, w~ithout waiving or atEectirig its option to lorecbse, or any right hereunder, and the ful! amount of each and every such paYnnent shall be immediatdy due and papable and s6aU tiear interat imm the date thereof until paid at the nte stated in the note securM hereby and together with such interest ahall be secured by the lien oE this riongage. To permit, commit, or suffer no waste, impairment or deterioration of said property, or any part thereof, and upcm the failuro of the mortgagors to keep the buildings on said property in good condition of repair, the Association may demand t6e immediate repair of said buildings or the immediate repayment of the debt hereby secared, and ihe failure of the mortgagors to rnmplY with said demand of ihe Association for a period of Thirty (30) days, shall constitute a breach of this mortgage, and, at the opNon of the Association, immediately mature the entire amount of principal and interest hereby secured, arid the ~ssociation, immediately' and without notice, may institute proceedin;s m foreclose this mortgage and appiv for the appoujtment of a Receiver, as hereinafter providexl. 5. This mortgage contract Exovides for additional advances which may be mlde at the aption oE the association and secured by this mortgage, and it is agreed that in the event of such advances the amount may be added to the modgage debt and shall increase the unpaid balanoe of the note hereby sec~u~ed by the amount of. such advance and sha11 be a part of sud note indebtedness under all the terms of said note and this contract as fully aa if a new such note and oontract were executed :~nd delivered. M additional advence agreement may be given and accepted for such advance and provition may be made for ciiffer+ent awnihlv gayments und a difEe~rr?t interest rate and othere~p ress modifications of the concraM, but in all other respects ~his contraet shall remain in full force and effect as to said indebtedn~u, including all advanc~es, 8. If any of the sums of money herein referred to be not promptly and fully paid within Thirty (3p) daya neut after the same severally come due and payable, or if each and every the stipulations, agreement, conditions~ and covenants of said promissory note and this deed, or either, are not duly performed, co~plied with and abided by~ the aggregate sum inentioned in said promissory note and any other amount or amounts added to the mortgage indebtedness eaider the terms of this mortgage shall become due and pay~bk forthwith or thcreafter at t6e option of the Association, as fully and campktely as if said aggregate sum o~E nn?oney was originally stipulated to be paid on such day, nnything in said promissory note or herein to the eontrary not- & 7. To deliver to the Association, a~ or before March 15th, of each ye~ar, tax nceipb evideneing the p4yment of ap lav?- fully impos~ taxes for the prececling calendar year; to de[iver to the Association receipts evidencing ihe payment of all liens for puW;c improv ernenb within ninety (90) daya after the same ~all hecome~ due u,d payable, ancl to pay or discharga within ninety (90) days after due date, any and all govemmentai kvies that may be made on the awrtgag~d property, on this mortgage rate, a in any other way resulting from the mortgage indebtedness xrured by this mortgage. ~ - # ~i~5 ~i~? _ - ~ ~-~--~.`-.~~-a.-~~ ; ;