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Home My WebLink About0878 ~ . ~ { at aU times peaceably and quiedy to enter upon, hold, occupy and cn~oV said I:ii~d; that said land 'u free Erom all encumbrances: ~ that they will make snch fu~ther assu~ances to perfect the fee stmple title to said land in the Association az may reasonably be ' required; and that they do hereby fully warrant ihe title to said land and aviU defend the same against the la~~•ful claims of ~ all persons ~vtwmsoever. ± PROVIDED ALN'AYS that if the I~iortgagon shall well and truly pay unto t}ie Association, the indebtedness evideoced i by that certain promissory note, of even date herewith, made bv the '~tortgagors and pa~•able to the Ascc?ciation, in the prineipal ~ FIFTEEN THOUSAND SIX HUNDRED AND NO/100ths- -po1l:?cs (S 15, 600. 00 ~ ~ui11 Ul . . . _ . . : ..~hich note, together ~~th interest thereon as therein specified, is pa}'able in manthlv installments of ONE HUNDRED ~ ; TWENTY AND 42 / 100ths - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - . . _ Dollars (s _120. 42 - - ' _ on the 20th .__day of each month cummencing ~vith _ _JariuaTy 20;_1972 - - - - ---which p~ymentc :u-e to be applied~ first to interest, and the balance to principal, until said indebtedness is paid in fuU, and shall perform, oomply ~.•ith and abide by each and every the 'pulations~ agreements, conditions and covenants of said promissory note and this mortgage, Md, including any advances made by the Association to the Mortgagors, or their successors in tidr, for any purpose, at anv time before the mlease and cancellation of this mortgage, but at no time shall this mortgage secure advanc~es on account of said original note together ~vith such additional advances in a sum in eacess of____._..FIFTEEN_THOUSAND SIX HUNDRED AND NOJ100ths - - - - - - - - 15 600. 00 - - - Dollsrs (a - - plus any advances necessary - - - - _ ~ - - - to protect the security and costs, then this deed and ihe estate hereby created shall cease and be null and voi . AND THE btORTGAGORS DO hereby cuvenant and agree: 1. To pay all and singular the principal and interest and other sums of money ~rayable by virtue of said promissory note .~nd this mortgage, or either, promptly on the days respectively the same ~everally rnme due. 2. To pay all and singular the taxes, assessments, levies,liabilities, obligations and incumbrances of ever~• nature and kind now on said described propecty, or that hereafter may be imposed, suffered, placecl, levied, or assessed thereon, or that hereafter ma~~ be levied or assessed upon this l~tortgage, or the indebtedness secured hereby, cach and every~ when due and payable, :~ecording to law, before they beeome delinquent, and before any interest attaches or anv penalty is ineurred; and incofar as any thereof is of record the same shall be promptly satisfied and discharged of reoord and the original official document (such 1s, for instance, the tax receipt or the satisfaction p.:~ser officially endorsed or certified) shall be placed in the hands of said ~ ~~,,.a ...:sl.:.. ,7.,..e npr! aF?vr navms~nt• An~ in the event that anv thereof is not uaid. satisfied and dischar~ed, • e-.e__ AJJ~lliau~s~f .w ..a~aa~ub~c, s..u.aa. a~u i---; ~ . . - said Association may at any time pay the same or any part thereof ~«thout waiving or affecting any option, lien, equity or right 1 imder or by virtue of this \(ortgsge, and the full amount of each and every such payment shall be immediately due andpa yable i .ind shall bear interest fmm the date thereof until paid at the rate stated in the note securecl hereb~• and together with such~ inter- ' Pst shall be secared by ihe lien of this Mortgage. j 3. To keep the buildings and all equipment and pecsonal property now or herea[ter on said premises covered by this mortg+ge, insured in a sum equal to at leut the amount o( the mongage, or an amount sufticient to rnmply with anr co-insurance require- f inent covering the same under the laws of the Scate oE Fiorida, rnvering loss from both tire and scorm, making the loss under said ~ j policies, each and every, payable to the Association, as mortgagee, as iu interest may appear. and uid insurance shall be in a good i i and raponsi6le i~uurance company satistactory eo said Association, and written by a responsible local agent utisfactory to said Asso- ciation; and the policy or policia shall bear a standard mongage clause without mntribution, a11d, i[ the original principal amount o[ the mongage is Fifty "Thousand and no/ 100 Dollan (s50.000.00) or in rxcas thereof, shall be held br the Association, and, in ` the event an} sum of money becomes payable under such policy or policies, the Association shall have the option to receive and applr ~ the same on account ot the indebcedness hereby secured, or to permit the moregagon to receive and use it, or anr part theteof, for ~ other purposes, without thereby waicing or impairing any equity, lien, or right under and by ~irtue o[ this mortgage, and may ~ place and pay tor such iruurance, or any part thereot, without waiving or affecting its option to foreclose, or any right hereunder. ~ and the full amount o[ each and every such pa}ment shall be immediately due and payable and shall bear interest (rom the date ~ thereo[ until paid at the tate swted in che note secured hereby and eogether with such intenat shali be secured by the lien oE thia ~ t ; \fortgage. 1 ~ i To permit, commit, or suffer no waste, impairment or deterioration of said prop~rt~-, or any part ihereof, and upon ~ tF~e failuro of the mortgagors to keep the buildings on said pmperty in good condition of repair, the Association may demand the ~ immediate s~pair of said bu;ldings or the immediate relrayment of the debi hemby seeurc~cl, and the failure of the mortgagors to comply ~vith said demand of the Association for a period of Thirty (30) days, shall constitute a breach of this mortgage, ~ and, at thc option of the Association, immediatelv mature the entire amount of principal and interest herebv secured, and the " Association, immediately and without notice, mav institute proceedin;s to foreclose this mortgage and applv for the appointment ~ ~f a Receiver, as hereinaftrr provided. ~ t 5. This mortgage contraM provides for additional advances K•hich may be made at the option of 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 mortgage debc 4 and shall inerease the unpaid balance of the note here6y secured by ihe amount of such advance and shall be a part of said ~ note indebtedness under all the terms of said note and this eontract as fully as iE a new such note u?d contract ~~~ere executed and deli~~ered. An additional advance agreement may be gi~~en and accepted for such advance and pmvision may be made for = cliffemnt monthlv payments and a different interest rate and other express modifications of the contract, but in all other respects ~his contract shall remain in full fome and eifeM 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 nezt after ~ the same severally come due and payable, or if each and every the stipulations, aereement, conditions, and covenants of said ~ promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned - 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 pa}•able forthwith or thcreafter at the option of the Association, as fully and completely as if said aggregate ' = sum of money was originally stipulated b be paid on such day, anything in said promissory note or herein to the contrary not- wit}utanding. i. To deliver to the Association, on or before ~farch l~th, of each vear, tax receipts evidencing the payment of all la~+~- - fully imp~s~ taxes for the preceding calendar year; to deliver to the Association receipis evidencing the payment of all liens for pub il'c improvements v~~thin ninety (90) days after the same shall hecome due and payable, and to pay or discharge within ninety (90) davs after due date, an)' and a11 govemmental levies that may be made on the mortgaged pmperty, on this moitt~age ` or note, or in any other way msultinR from the mortgage indebtedness secure~l by this mortga~e. ~ ~ ' EOUK~~7~ PACE O 1 f. ~ ;:5 -