HomeMy WebLinkAbout2503 at all times pc:?crably and quietly to en!er u~n, hnld, cxrup}• und eiij~~y said land; that said laud is fnti from all encumbrances;
that they will r.~ake such further asruranc~t to perfeet the foe simple titie to s:iid land in the Associ:ition u mav re:~son:ibly tx•
~equired; and that they do hereby futly warrant the title to said land and ~vil) defcnd tl~e same ag:?inst thc la~~~fal clain?s o(
.~ll persons «'homsoever.
PROVIDED AL~i'AI'S that if the \fortgagors shal! ~~~ell and troly p:?y unto the ~ss~x•i:~tion, the iu~lebtedness evidrnced
by that ct~rtain promissory note, oE even date herewith, made b~• the \1ortg.?gors and pa~:~blH to the As.oc•iatic~n, in th~ rrinri~xil
.um of THIRTY-FIVE THOtTSAND AND NO[100-------------------- 1h,)!ars ~g 35, 000. 00
~.hich note, together w~th interest chercwn ac therein specifird, is ~~:+~•:?blr in munthh~ inst;iUmrnts ~?E TWO HUNDRED
FIFTY-EIGHT AND 65/100-------------------------------------------------------
- _ . Doll:.rs ls 258. 65
un the lOth da~ of each month c~~mrnenciug with February 10: is~2 ..~hich pa~•ments
are to be :?pplied, first to interest, and the batance to princit~al, untii said indebtedness is paid in full, and shall perform, rnmply
~.•ith and abide by each and e~~ery the stipulations, agreements, conditions and co~•enants oE said promissory• note and thi.
morigage, Md, including any advances made bv the Association to the \lortgagors, or their succestors in tidr, for any purpo6e,
at anv time before the release and cancellation ~of this mortgage, bui at no time shall thic mortgage secure advances on aernunt
uf said originat note together ~veth such additional advancrs in a sum in excess oE THIRTY-FIVE THOUSAND
AND NO/100-------------------------------Dollars (S 35, 000. 00 plus anv ad~•ances necessan•
_ _ - . _ . .
t~~ protect the secwity and costs, then this deed and the estate herebv crcated shal! cease and be null and ~•oid. ~
A\D THE ~fORTGAGORS DO hereby cvvenant and agree:
1. To pay all and singular the principal and interest and other sums of money p:i~•able b~• ~~irtue of s:~id prumissory nute
.~nd this mortgage, or either, promptly on the da~n respectively the same u~veraDy come due.
2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of everti• nature and kirsc!
no~~~ an said Jescribed pmperty, or that hereafter may be imposed, suffered, placecl, 1e~~ied, or assessed thereon, or that hereafter
' rn3~~ be levieci or a.csesseci upon this ~tortgage, or ihe indebtedness seeureci hereb}•, each and e~~ery, when due and payable,
~ccord'u~g to I1R', befote they become delinquent, and before anv interest attaehes or anv penalty is incurred; and insofar ,u
.~ny thereof is of record the same shall be promptl}• s:~tisfied and discharged of record and the original official docament (such
is, for instance, the tax receipt or the satisfactivn paper officiallv endorsed or certified) shail be placecl in the hands of said
.3ssociation as ~Tortgagee u~thin ten ciavs next after pa~~ment; and in the event that any thereof is not l~id, satisfieci and dischargecl,
~ said Association m:iy at anv time pa~• the same or any part thereof ~~~thout ~rai«ng or affecting any option, lien, ec~uit~~ or right
E tmder or b~• ~~rtne uf this \iortfiaue, and the full amount of each and everv such pay~nent shall tx immediately due ai~d pa~~able
and shalt bear interest frc~m the c~ate thereof until paid at the nte stated in the note sec~~red hereb~• and to~ether with sach inter-
~~st sha1) be secureci by the lien of this Liortgage,
E 3_ "To keep the buildings and all eyuipment and penanal property now or hema[ter on said premises covered by thit m~:;gage,
t insured in a sum equal to at least the amount of the mortgage, or an amount suf(icient to comply with any co-insurance requice-
mrnt coveting the same under the laws o[ the State ot Florida, co~•ering loss from boeh iire and storm, making the loss under said
i policies, each and e~•ery, payable to the association, as mortgagee, as its intrrest may a~pear, and said insurance shall be in a good
; and responsible insurance company satistactor~• to said Rssociation, and written by a responsible local agent satisfactory to said Asso-
ciation; and the pe~licy or policies shall bear a staudard mortgage clause without contribution, and, it the oriqinal principai amount
o( the mortgage is Fifty 7~housand and nollOff Uoliars (j50.000.00) or in excess thereof, shall be held by the Association, and, in
: the e~ent any sum o[ money becomes payable uiider such policy or policies, the Association shall have the option to receive and apply
! the same on account o( the indebtednrss hereby secured, or to permit the mottqagors to ttceive and use it, or any pan thereof, for
other purposes, without thereby wai~~inR or impairing any cyuity, lirn, or right under and by ~~irtue of this mortgage, and mar
place and pay for such insurance, or any pare therrot, without wai~~in~ or a[[ecting its option to (oreclose, or any right hemunder,
and the full amouni of eath arid even• sucb payment shall be immecliately due and payable and shall bear interest ftnm the date
ttiereof until paid at the rate stated in [he note secured hereby and together with such interest shall be secured by the lien of this ~
~longage.
-1. T'o permit, cr.mmit, or suffer no waste, unpairment or drtcrior.~tion of s;,~d prupert~~, or xny part thcreof, and upon
t}~e failure oE the mortgagors to keep the huildings on said property in good a~ndition of repa'v, the Associatiun mav demand the
irnmediatc rei~ir af said bu~ldings or the immediate mPavment oF the debt hcreby seceued, an~ the failure ~f the mortgagors -
t<> comply ~~•ith said demand of the Associ~tion for a pcricxi of Thirty (30) days, ah~il constitut~ a breach of this mort~{aRe,
i and, at thc opti~~n of the Association, immediatPlv mature the entire amo~nt of principal and interest herebv secured, and the _
~lssociation, immediately and w•ithout notice, mav institute proceedin;s to forectnse this mortga~Ge and appir for the ap~intment ~
~f a Recei~•er, as hereinaiter provided. ~ =
- 3. This mortgage contract provides for adclitic~nal advances ~~-hich may be made at thr uptivn of the association and
secured by this mortgage, and it is agreecl chat in the event oE sach advances the amount may be addecl to the mortgage debt
:ind shall increase the unpaid balance of the note herebv secured by the amount of such advance and sha11 be a part of said
note indebtedness under all the terms of said note and ~this contract as fully as if a new such nole and contract .+~ere excruted
and ~leli~•erecl. An additional advanee a~reernent ma~• be giv~n and actepted for surh advancr ar~c~ proviseon ma~• be made for
riiffercnt month)t~ pavments .:nc1 a different interest rate and other express modificstions of the contract, but in :ill other respects
ihis contract shall remain in full force and effect as to said indeoteclness. includin~ all advances,
6. If anv ~f the sums of muney herein referred to be not prompdy ancl fullv paid a~ithin Thirty (30) days next aftrr
the same se~•erally c~me duc and ~ayable, or if each and every the stipul:?tions, a~rc~ement, c~nditivns, and cY~venants of said
promissory note and this deed, or either, are not duly performed, compliecl with and abided by, the aggregate som mentioned
in said promissorv note and am• other amount or amounts added to the mortgage indebtedness under the terms of this mortgage
shall become due and pr~~~ble forthwith or thereafter at the option of the Association, as fully and completely as if said aggregatc•
sum of monev ~~~as originally stipulated to be paid on such day. anythinR in said promissory note or herein to th~ contrarv not-
u•it}utanding. •
To delicer to the Association, on or beFore ~tarch ISth, of each ~•ear, tax receipts evidencing the payment c~f ati ia~.--
fully im~sed tazes for the prececlin~ calend:i~ year, to deti~•er to the Association recei~ts evidericing the payment of aU liens
for public improvements H•ithin ninety (90) clays after the same shall hec~me due and payable, and to pay or discharge v~~thin
ninety (90) da~~s after duc date, any and al) govemmental levies that may be made on the ~nortgaQeci propertv, ~?n this mort~afie
nr note, or in an,y other way msulting from the mortgage indebtedness secured bv this mortRaQe. ~
. s
~~x 1~38 P.,~~ 250Q _