The URL can be used to link to this page

Home My WebLink About0942 . . y at all times pcaceably and quietly to eater upon, hold, occu y und enj~~y said Ixnd; that said land is frc~ from aq encumbrances; ~ e that they will make sucA further assurance.t to perfect the ee dmple tiUe to said tand in the Association as mav reasonably bc required; and that they do hereby fuUy warrant the title t+o said land and ~vil! defend tl~e same :igtinst the la~~•ful cLiims of ::ll peno~u a•homscever. ~ s PROVIDED ALtt'AYS thut iF the :~tortgagors shall well and truly pay unto the Assa•iation, tl~r indebtedness c~ldenced ~ by that certain promissory note. of even date herewith, made by the \tortgagars and pa~~;ible to the A~scxxiation, in the princi~xll . ! ~.c ~tx~rFF:tv THQI7SAND AND 11T0l-100ths-------------------- - no11:~~ (S 16, 000. QO ~ ~.•hich note, together with interest thereon :u themin specifiecl, is p:?ya61e in monthly installments nE ONE HUNDREU ' THIRTY-THREE AND $9/100ths-------------------------------------------------- _ _ _ _ . , r _ _ - - _ . Dollars (3 133. 89_ . ~ on the 20th day of each month commencing ~~~th ,I3nu3..x_y-2U,---1$?2-----_------_-_.--. _ which paymentc ~ are to be applied, first to interest, and the balance to principal, until said indebtedness is paid in fuU, and shall perform, eomp}y ~+•ith and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and tl~is mortgage, Md, including any advances made by the Association to the Mortgagors, or their successors in tidC, for any purpose, at any time before the release and cancellation of this mortgage, but at no time shall this mortgage secure advances on account of said originat note together with such additional ad~ances in a sum in eccess of.SIXTEEN..THL~IT~ANI,??.AN~_____-. NQIIQ~L_h~ no»~~ (S lfi,_~QO.OQ.), plut any advances ntressan• to protect the security and costs, then this deed and the estate hereby created shall cease and be null and void. ~ AND THE ~10RTGACORS DO hereby cvvenant and agree: 1. To pay all and singular the principa1 and interest and other sums of mo~ey payable by virtue of said promissorv notc .,nd this mortgage, or either, promptly on the days respectively the same severally come due. 2. To pay all and singular the taxes, assessments, levies, liabilities, obiigations and incumbrances of every nature and kind now on said described pmperty, or that hereaker inay be imp~s~ suffered, placed, levied, or assessed thereon, or that hereafter mai~ be leFeec! or assessed upon ihu \iortgage, or the iadebtedness secured hereby, each and every, when due and payable, .~ccording to law, before they become delinquent, and before any interest attaches or anv penalty is incurred; and iruofar as any thereof is of record the same shaU be promptly satisfied and discharged of record and the original official document (such as, for instance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placecl in the hands oi said ~ss•,riati~n as ~tortgagee w-ithin ten days next after jrayment; and in the event that any thereof is not ~raid, satisfied and discharged, said Association may at any time pay the same or any part thereof ~vithout waiving or atiecting any option, uen, eyuii~~ ur ~igi~i under or bv virtue of this ~fortgage, and the full am~~unt of each and everv such payment shall be immediately due andpa yable ~ .uid shatl bear interest from the date thereof until paid at the rate stated in the note secured hereb~- and to~ether with such inter- ~ Pst shall be secured by the lien of this Mortgage. ~ 3. To keep the buildings and all equipment and personal ptoperty now ot hena[ter on said premises mvered by this mortgage. insured in a sum equal to at least the amount ot the mortgag~, or an amount suf(icient to comply with any co-insurance rtquire- ment co~ering the same under the laws oE the State oi Florida, rnvering loss (rom both [ire and storm, making the loss undet said policies, each and every, payabie to the Associateo~i, as mortgagee, as its inierest mar ~ppear, and said insunnce shall be in a good ; and responsible insurance company satis[actory to said Association, and written by a responsible local age~t aatis(actory to said Asso- i ciation; and the polic7 or policia sha11 beat a standard mongage dause without contribution, and, i[ thc original principal amount o[ the mongage is Fitty Thousand and no/ 100 Doilars (j50,000.00) or in eucess thereoE, shall be held by the Association, and, in the event any sum oE money becomes payable under such policy or policies, the Association shall have the option to receive and apply ehe same on accoune of the indebtedness hereby secured, or to permit the mongagon to receive and uae it, or any pan thereot, for ~ other purposes, without thereby wai~•ing or impairing any equity, lien, or right under and by virtue of this mortgage, and may place and pay for such insurance, or any part thereot, without wai~•ing or af[ecting its option to [oreclose, or any right hereunder, and the full amounc of each and every such payment shall be immediaeely due and payable and shall bear interest from the date thereof until paid at the rate stated in the note setured hereby and together with such interest shall be secured br the lien oE this ~fortgage. ~1. To permit, commit, or suEfer no waste, impairment or deterioration of said propert}~, or :my part iherec~f, and upon the failuro of the mortgagors to keep the buildings on sai-1 property~ in good condition of repair, the Association mav demand the immediate repair of said bu;ldings or the immediate repayment of the debt hereby securecl, and the failare of the mortgagors ~ to comply «~th said demand of the Association for a period of Thirty (30) days, shall constitutc a breach of this martgage, ~ and, at the option of the Association, immediatelv mature the entire amount of principal and interest herebv secured, and the Association, immediately and without notice, may institute proceeclin ~s t~ foreciose thu mortga~e and appiv for the appointment nf a Recei~~er, as hereinaher pmvide~. 5. This mortgage coniraM provides for additional advances H~hich may be made at the option of the association and ~ secured by this mortgage, and it is agreE,~cl that in the event oE such advances the amount may be added to the mortgage debt :~nd shall increase the unpaid balance of the note hereby secured by the amount of such advance and shall be a part of said { note indebtedness under all the terms of said note and this contract as fully as if a new such note and rnntract w•ere executed ~nd delivered. M additionai advancc agreement may be given and accepted for such advance and provision may be made for ~ifferent monthlv pa~•menis and a different interest rate and other express modifications of the contract, but in all other respects ihis contr;ict shall remain in full force and effect as to said indebtedness, including all advances. S. If anv of ibe sums of mcwey herein referred to be not promptly and~ fullv paid within Thirty (30) days next aEter the same severaUy eome due and payable, or if each and every ihe stipulations, aorcement, conditions, and covenants of said promissory note and this deed, or either, are not duly performed, comptied with and abided by, the aggregate sum mentioned in said promissorv note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage shall become due and pay3ble forthwith ar thereaEter at the option of the Association, as fully and completely as if said aggregate sum of money v~~as originally stipulated to be paid on snch da,y, anything in said promissory note or herein to the conharv not- ; withstanding. • 7. To deliver to the Astociation, on or before ~tarch 15th, of each year, tax receipts evidencing the payment of alI laH•- fulJy im~ taxes for the prececling calendar vear; to deliver to the Assoeiation receiptc evidencing the payment of all liens for ~b ' improvemenis k~ithin niaety (9p) days after the same shall hecome due and payable, and to pay or discharge within ~ ninety (9p) davs after due date, any aod all governmental levies that may be made on the mortgaged pmperty, on this mortRage ? ~r note, or in any other way ms~ilting fmm the mortgage indebtedness secured by this mortgage. ~~o~ ~98 ~~f 9~ f . ~