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Home My WebLink About1296 . ~ Y • , ' ? ~ . at all times pr.ice~ably und quiedy to enter upo~, hold, oc~cupy and ~njoy said 1:?nd; that said lund is frc~: from all eu~umbrsnces; ~ that they wip make such fucther assurar?ees to pecfect the fes simple title to said land in the Association as mav re:?sonably lx~ required; and that they do hereby fully warrant the title to said land und will defend the same against tlie la~~~ful cluims of all ~rwns ~vhumsoever. PROVIDED AL\YA1'S th:~t if tl~e Atortgagors sh~ll well and truly pay w~to the Ass~x~iation, thr indebteelnes~c evidencecl by that certain promissory note~ of even date herewith, made bv the !~lortgagors and ~~•ablP to the Asuxiation. in the princi~xil :?~m oE EIGHTY-ONE THOUSAND AND NO/100ths------------------ lS 81, 000, 00 ~q~aey~~~apiexn~muxaM~c~metnitm~nxscx@c at rate s eeified. ~ .vhich note, together ~vith interest thermn ~~1t~ P Principal shall be due and pa~yable in full on February_ 2, 1975. Interest shall be due and pa,yable month~j? comm~ncing on th~ 2nd day of March, 1971 and on the 2nd day of each . ~nonth therea~~~r_._until_thi~_note _is fully paid. ~lt~~.lcx~cxxxxxxxxp~ ~~~xx~~~,~~ ~xxxxxxxx ~cxxoai~~~c ~ ~~~p~Y~ ~ until said indebtedness is paid in full, and shall perform, comply .~-ith a~nd,ab~'~ by each and every the stipulations~ agreements, conditions and covenants of said promissorv note and this mortgage, ~ ~cmaxr~c~n(6c~s+fa~~~c]~taax~]mt~c~n~i~cetaoxa~L~no~angtg~~~ac ~ttx?~fd6~tat ~cs~tcbcaH~ce~k~aotac~~~n~ck~~ic~~ci~xxxmx~x~me~xe~cx xx~cxx 'sxx~'ex ~plc`'t'ax`'c • ~¢1~0t~t~c9Cm8k~c]tixDtoD~, then this deed and the estate hereby created shalf cease and be null and void, AND THE \tORTGAGORS DO hereby cvvenant and agree: ~ 1. To pay all and singular the principal and interest and other sums of money payable by ~lrtue of said prumiscory notc :~nd this modgage, or either, prompdy on the days respectively the same severally come due. 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind now on said described property, or that hereafter may be imposed, suffereci, placed, levied, or assesseci thereon, or that hereafter may be levied or assessc.~d upon this liortgage, or the indehtedness securecl hereby, cach and every, when due and payable, .,cconling to law, before they become delinquent, and before any interest attaches or anv penalty is inciured; and insofar as anv thereof is of record the same shall be prompdy satisfied and discharged of record and the original official document (such 1s, for instance, the tax receipt or the satisfaMion paper officially endorsed or certified) shall be placed in the hands of said Association as Ltortgagee within ten days next after payment; and in the event that any thereof is not paid, satisfied and dischargecl. ' said Association may at anY ti~ne pay the same or any part thereof «~thout waiving or afferting any option, lien, equity or right i i~nder or by virtue of this '~fortg~ge, and the full amount of earh and every s~ch payment shall be immecliately due andpa yable ; :u?d shall bear interest fmm the date thereoE until paid at the rate siateci in the note secured herebv and togethPr with such inter- ! est shall be secured by the lien of this \lortgage. ! 3. To keep the buildings and all equipment and petsonal property now or hereafter on uid premises covered by this mortgage. ~ insured in a sum eyual to at least the amount o( the mongage, or an amount sufEicient to comply with any co-insunnce mquire- ; ment covering the same under the laws ot che Scate ot Florida, covering loss from both [ire and storm, mating the loas under said ; € policies, each and every, payable to the Association, as mortgagee, aa its interest may appear, and said insurance shall be in a good f and responsible insurance company satisfactory to said Association, and written bJ a responsible local agent satis[actory to said Asso- ~ ciation: and the policy or poiicies shall bear a standard mongage dause without contribution, and, it the original principal amount ~ of the mortqage is Fitty Thousand and no/ 100 Dollars (:50,000.00) or in excess thercoE. shall be held by the Association, and, in ~ 5 the e~~ent any sum o[ money becomes payable under such polic~r ot policies, the Association shall have the option to receive and apply ~ the same on account ot the indebtedness hereby secured, or to permit the mortgagon to receive and use it, or any part thereoE, for ; other purposes, without thereby waiving or impairing any equity, lien, or right under and by virtue o( this mortgage, and may ; place and pay tor such insurance, or any part thereo(, without wai~~ing or atiecting its option to foreclose, or any right hereunder. ~ and the [ul! amount ot each and every such payment shall be immediately due and payable and shall bear interest from the date ~ ehereof unul paid at the rate scated in the note secured hereby and together with such interest shall be secured br the lien ot this ~ ;for[gage. ~ -1. To permit, commit, or suffer no waste, impairment or deterioration of ~id propert~•, or any ik~rt thereuf, and uEx,n ~ the failuro of the mortgagors to keep the buildings on saiJ propert~~ in gooci condition of repa'v, the Association mav demand the immediate re~air of said bu~ldings or the immediate repayment of the debt hereby sec:urecl, and the failure of the rnortgagors ~ to comply ~vith said demand of the Associltion for a perioci of Thirty (30) da}'s, ~hall constiti~te a breacti of this mort~age, ~ and, at the opHon of the Association, immediatelv mature the entire amount of principal and interest herebv securecl, and the ~ Asmciation, immediately and without notice, may institute proccedin~s to foreclose thic mortgage and .ippl.~ for the appointment ~ nf a Receiver, as hereinafter provide~i. ~ 5. This mortgage contr.ict provides for addition:il advances µ•hich may be made at the uption of the association and secured by this mortgage, a.nd it is agreed that in the event of such advances the amount may be addrd to the mortgage debt :ind shall inerease the unpaid balance of the note hereby secured by the amount oE such advance and shall be a part of said note indebtedness under all the terms of saicl note and this contract as fuUy as if a new such note and contract ~~•ere exccoted :~nd ~lelivered. An additional advance :~greement may be given and accepted for such advance and provision ma~• lx~ m.ide for - different monthlv Ik~~~ments and a different interest rate and other express modifications of the coiitract, Uut in all~other respects ~his contract shall remain in full fome and effect as to said indebtedness, including all advances. _ 6. If any of the sums of muney herein referred to be not prompdy and fulh~ paid w~ithin Thirty (30) days next after <`i the same severally cY~me due and payable, or if each and every the stipulations, agrcrment, conditions, and covenants of s~iicl promissory note and this dced, or either, are not duly performed, r_omplied ~vith and abided by, the aggregate sum mentioneci in said promissory note and anv other amc~unt or amounts added to the mortgage indebtedness under the terms of this mortgagr shall become due and pa~~ble forthwith or theteafter at the option of the Association, as fully and completely as if said aggregate sam of money was originally stipulated to be paid on such day, ant~thing in said promissorv note or herein to the contrarv not- - withstanding. 7. To deliver to the Association, on or before ~iarch 15th, of each ~~ear, tax receipts evidencing the payment of all la~~~- fully im~1 taxes for the preceding calendar vear, to deliver to the Assxiation receipts evidencing the payment of all liens y~ for pub 'Lc im~rovements within ninety (90) ~lays after the same shall lx~comc due and payable, and to pay or discharge within = ninety (90) da~~s after due clate, any and ail govemmental kvies that may be made on the mortga~ecl property, on this mort~a~~ - nr note, or in any other way resulting from the mortgage indebteclness secored by this mortRa~e•. ~"z ;4~ s. SO~t 199 ~E1~:y5 _ . ~ : . ~ - - a - F~, ~ . . . _ . _