HomeMy WebLinkAbout0351 at aU times peacrably and quiet}y to enter upon, hold, ocru y and enj~~y sa~d land; that suid land is fcee from all encumbrances; ;
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that they will make such fuithet usurances ~o pafect tbe oe simple title to said land ia the Association as may re:uo~iably tx*
required; sud that they ~o hereby fully waaant the titb to said land and ti~~ill defcnd the same against thP la~~>ful clainu of
:~11 perso~u whomsoevcr.
PROVIDED ALWATS that if the :~tortgagors shal! a~el) and truly pay unto die Association, the indebtedness e~tidenced
b~~ that cettain promisswy nott, uf evea date herewith. made by the I~tortgagors and paruble to the Association, in the prinripal
tum oEFOIIRTEEN TIiOUSANA.FQI7R HUNURED ANA .NOI~OOths ----po11;i~ ~s14, 400. 00
.~~hich note, together with intetest themon as therein specified, is pa~able in monthly installments of ONE HUNDRED ;
TWENTY ANI2 46/100ths-
- - - _ _ _ _ . _ . v~ll~r~ (S 120. 46 _ .
on the _ 1.9Lh_ day of each month commencing wzth -~'eb2'ua.~~--.19,---19_?2..----- ----which payments ~
.~re to be applied, Eirst to interest, and the balance to principal, until said indebtedness is paid in fuli, and shall perform, ~tli`
.~•ith and abide by each and every the stipulations, agreements~ conditions and covenants of said promissory note and ~s
morigage, And, including any advances made by the Association to the Mortgagon, or their successors in tidr, for any purpose,
at anv time before the rslease and cancellati~n of this mortgage, but at no time shall this mottgage secure advances on account
of said original note together with such additional advances in a sum in ~.~~s of___FpuR-TEEIIT--TH4US.AN.D-__-_._- _
FOUR_HUNDRED_AND_ NO~_1OOths_---_---_--_----~~~a~ (a_14,_400,_00,.._), p~us any advances necessan•
to protect the security and costs, then this deed and the estate hereby created shal) c~ease and be nu11 and void. ~
A1VD THE r10RTGAGORS DO hereby cvvenant and agree:
1. To pay all and singular the pru~cipal and interest and other sums of money pay~able by virtue of sa~d promissory note i
.md this mortgage, or either, promptly on the days respectively the same severally come due. !
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2. To p~y all and tmgular the taxes, assessments, k.wies, liabilities, obligations and incumbrances of every nature and kind ;
now on said described property, or thnt hereafter maq be im~s~ , suffered, placed, levied, or assesu~d thereon, or that hereaRer ~
ma~• be levied or assessed upon this 1?fo~rtgage, or the indebtedness serured hereby, cach and every, when due and payable,
.~ccording to law, before they become delinquent, and before any interest attaches or anv penalty is incumed; and insoEar as
.~ny thereof is of record the same shall be promptly sutisfied and discharged of record ancl the original officia! docnment (such
~s, for instance, the tax receipt or the satisfaction ~aper officially endorsed or certified) shall be placed in the hands of said
Associati~ as ~iortgagee wiihin ten days n~t afier payment; and in the event that any the~rof is not paid, satisfied and discharged,
said Association may at any time pay the same or any part thereof ~vithout waiving or affecting any option, lien, equity or right
under or by virh~e of this ~lortgage, and the full amount of each and every such payment shall be immecliately due and~a
yable
and shall bear interest fmm the date thereof until paid at the tate stated in the note secured hereb~• and together with such inter-
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st shall be secured by the lien of ibis biortgage. ~
' 3. To keep the bnild'engs and all rquipmtnt and personal property now or hereafter on said premises covered by this mortgage.
insured in a sum equal to at least the amount ot ehe mor[gage, or an amount sufficient to mmply with any co-insunnce require-
ment aovering the same under th~ laws of the Swte of Florida, covering loss from both fin and stotm, making the lost under uid
policies, each and ea•ery, payable w the Association, as mortgagee. as its interest ma~ appear, and said insuranee shall be in a good
and responsible insunnce mmp~ny satistaaory [o uid Association, and written by a raponsibk local agent utis[actory to said Asso-
ciation: and the policy or policia shall bear a standard uangage d~use without mntribution, and. i[ the original printipal amount
ot the mortgage is Fi[ty Thousand and no/100 Doll~n (s5b,000.00) or in access tAereoi. shall he held br the Association, and, in
the event any sum of maney becomes payable under such policy or policies, the Association sh~ll hav~ the option to n:ceive and apply
che same on accoune of the indebtedness henby securcd, or to permit the mortgagors to truive and use it, or any part theieof, for i
other purposes, without thereby waiving or impairing any equitp, lien, or tight under and by vinue of this mortgage, and may '
place and pay [or such insunnce, or any pan thereof, without waiving or a[fecting its option to forecbse, or any right hertunder, ~
and the tull amounc of each and every such payaeent shall be immedi~tely due and payable and shall bear interest from the date
; ehereof uncil paid at the nte suted in the note secured hereby aad together with such interat shall be secured by the lien of this
~ ~fortgage.
` To permit, commit, or suffer no waste, impairment or deterioration of s:iid propert~•, or .?ny part thereof, and upon
E the failures of ihe mortgagors to keep the buildings on said pmperty in good condition oE repair, the Association may demand the
immediate repair of said bu;lciings oc the immediate repayment of the debt hereby socured, and the failure of the mortgagors
to oomply with said demand of the Association for a period of Thirty (30) davs, shall constitute a breaeh of this mortgage,
and, at the option of the Association, immediately mature the entire amount of principal and interest hereby secured, and the
: A~sociation, immediately and without notice, may institute proceedinas to foreclose this mortgage and applv for the appoinhnent
ot a Receirer, as hereinafter provided.
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` 5. Thit mortgage contract provides for additional advances v~hich may be made at the option of t~e association and
~ecured by this mortgage, and it is agreed that in the 'event of such advances the amount may be added to the mortgage debt f
and shall increase the unpaid balance of the note hereby secured by the amount of such advanre and shall be a part of said ~
note indebtedness ~nder all the terms of said note and this cantract as fully as iE a new such note and conUact ~.rre executed
:,nd delivered. M additional advance agreement may be given and accepted for such advanee and provision mav be made for
riifferent monthlv pa~-ments and a differer+t interest rate and other express modifications of the contract, but in al) other respects
this contract shall remain in full force and effect as to said indebtedness, including all advances.
6. If any of the sums of money herein referred to be not promptly and fully paid w~thin Thirty (30) days next after
the same severally come due and payable, or if each and every the stipulations, aoreement, conditions, and covenants of said
promissory note and this deed, or either, are not duly petformed, complied with and abided by, the aggregate sum mentioned ~
in said promicsory note and anv other amount or amounts added to the mortgage indebtedness under ihe teims of this mortgage
shaD become due and pa~~ble ~forthwitli or thcreafter at the option of the Association, as fully and completely as if said aggregat~ !
sum of monev w~as originally stipulated to be paid on such da}. anything in said promissory note or herein to the contrarv not- ~
withstanding. ' ,
7. To deliver to the Association, on or before ~farch 15th, of each }'~ar, tax receipts evidencing the payment of alt laH--
fully imposed taxes for the prececling calendar year; to deliver to the Association receipts evidencing the payment of all liens
for pubjic improvements within ninety (fl(?) days sEter the same shall hecome due and payable, and to pay or discharge within
ninety (90) davs after doe date, any and all governmental levies that may be made on the mortgaged property, on this mortgage •
~r note, a in any other way msultinR from the mortgage indebtedness secured by this mortgaQe.
aooK199 Pac~ 35~
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