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Home My WebLink About1585 ~ ~ . . . • . • ~ i . ~ . ~ at all timespe~ ceably and quiedy to enter upon, hold, occupy and enjoy said land; that s:iid land is fr~e from all encumbrances; . that they will make such further assur~?nces Lo Pecf°d the fee stmP~e tide to said land in the As.sociation as may reasonably be required; and ihat they do hereby fully watrant the title to said lund and ~vill defend the same ngainst tl~e la~vful claims of all persoiu whomsoever, ~ PROVIDED ALWAYS thut if the 111ortgagors shall well and truly pay,unto the Association, the indebtedness e~ridenced ~ by that certain promissory note, of eve~ date herewitb, made by the Atortgagors and payable to the Association, in the princi~l Sl,n, oE __THIRTY TWO THOUSAND FIVE HUNDRED AND NO/100ths ~a 32, 500. 00 ~ which note, together with interest thereon as therein specified, is p:i~~aLle in monthly installments of TW4 HUNDRED . FIFTY AND 85 / 100ths - - - - - - - - - - - - - - - - - - - - - - - - - - - - _ _ - ~ uolla~s ~s _250. 85 - - ' - on the ._lOth .day of each month commencing ~vith.. - - _-----ApI`71__102-1972------------------------ _---which payments ~ :ue to be :ipplied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall peiform, oomply ~ H~ith and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and tl~~,c mortgage, Md, including any advances made by the Association to the Mortgagors, or their successors in atl~, for any purpoae, at anv time before the release and cancellation of this mortgage, but at no time shall this mortgage secure advances on account of said original note together with such additional advances in a s~un in ezcess oE______THIRTY _TWO THOUSAND FIVE HUNDRED AND NO/ 100ths 32, 500. 00 i~ ~v advances necessan~ - - ca - - - p - to pmtect the security and costs, then this deed and the estate hereb}• created shall cease and be nnll an voi . AND THE \tORT'GAGOAS DO hereby cvvenant and agree: 1. To pay all and singular the principal and interest and other sums of money payable by virtue of said promissory note :~nd this modgage, or either, promptly on tf?e days respectively the same severally come due. -s 2. To pay all and singular the taxes, assessments, levies, liabilities, obligadons and inciunbrances of every nature and kind now on said described property, or that hereafter may be im~~ , suffered, placed. levied, or assessed thereon, or ihat hereafter may be levied or ass~sed upon this Mortgage, or the indebtedness securecl hereby, cach and every~ when due and payable, uccording to la~v, before they become delinquent, and before any interest attaches or anv penalty is incurreci; and insofar :u any thereof is of record the same sl~all be prom~itly 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 placed in ihe hands of said Y Association as \iortgagee within ten days next after Irayment; and in the event that any thereof is not paid, satisfied and diccharged, _ 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 virtue of this !ltortgage, and the full amount of each and every such payment shall be immecliately due andpa yable and shall bear interest from the ciate the~reof until paid at the rate stated in the note secured hereb~• and together with such inter- est shall be secured by the lien of this Mortgage. 3. To keep the buildings and a11 equipment and petsonal property now or hereafter on said premises covered by this mortgage, s insured in a sum equal to at least the amount of ehe mortgage. or an amount sufficient to comply with any co-insurance require- ~ ment mvering the same under the laws of the State oE Florid~, covering loss irom both [ire and storm. making the loss under said ~ ' policies, each and every, payable to the Associaeion, as mortgagee, as its interest may appeu, and said insunnce shall be in a good ~ I and responsible insurance company satisfactory to said Association, and written by a responsible local agent satisfattory to said Asso- ~ ciation; and tht policy or policits shall bear ~ standard mortgage clause without contribution. and, if the original prinapa! amount i ~ o[ the mortgage is Fi[ty 'Thousand and no/ 100 Dollars (~50.(100.00) or in excas thereot. shall be hdd by the Association, and, in ~ ~ che e~ent any sum oE money becomes payable under such policr or policies, the Association shall have the option to receive and apply ~ the same on account o[ the indebtedness hereby secured, or to permit the mongagors to teceive and ose it, or any part thereof, for = + other purpoaes, without thereby waiving or impairing any equ~ty, lien, or right under and by virtue of chis mortgage. and may ~ ~ place and pay [or such insurance, or any part thereof, without waiving or atfecting its option to foreclose, or any right hereunder, and the fuli amount ot each and every such payment shall be immediately due and parable and shall bear interest Erom the d~te ~ thereof until paid at the nce stated in the note secured hereby and together with such interat s6a11 be secured br the lien of thia : ~ Aiortgage. ~ 4. To permii, commit, or suffer no waste, impairment or deterioration of s:~id propert~•, or :iny part thereof, and upon ~ the failuro of the mort~;agors to keep the buildings on said property in good condition of repair, the Association may demand the ~ immediate repair of said bu;ldings or the immediate re~rayment of the debt hereby secured, ancl the failure of the mortgagors ~ to rnmply ~vith said demand of the As.wciation for a period of Thirty (30) days, shall constitute a breach of this mortgage, ~ and, at the option oE the Association, immediately mamre the entire amount of principal and interest hereby secured, and tbe z Association, imme~iately and without notice, may institute proceedin;s to foreclose this mortgage and applv for the appointment oF a Receiver, as hereinafter pmvided. ~ 5. This mortgage contraM provides for additional advances w•hich may be masle at the option of the association and secured by ihis mortgage, and it is agreed that in the event of such advances the amount may be added to the mortgage debt ~ and shall increase the unpaid balance of the note hereby secured by the amount of svch advance and shall be a part of said ~ note indebtedness under all the terms of said note and ihis contract as fully as if a new such note :u?d contract ~a•ere executed and delivered. M additional advance agreement may be given and accepted for such advance and provision may be made for ~ ~ ciifferent monthlv pa~Tnents .^.nd a different interest rate and other express modifications of the rnntract, but in all other respects ~ ihis contract shall remain in full fome and efEeM as to said indebteciness, including all advances. ~ 6. If any of the sums of muney herein referred to be not promptly and fully paid within Thirty (30) days next after ; ~ the same severally come due and payable, or if each and every the stipulations, agreement, conditions, and covenants of said s ~ promissory note and this deed, or either, aze not duly performed, complied with and abided by, the aggregate sum mentioned ~ ~ in said promissory note and anv other amount or amounts added to the modgage indebtedness under the terms of this mortgage ~ shall bet.~ome due and pay~ble forthwith or thereafter at the option of the Association, as fully and completely as if said aggregatc ~ sum of money was originally stipulated to be paid on such day, an}~thing in said promissory note or herein to the contrary not- < ~ ~vithstanding. ~ 7. To deliver to the Association, on or before ~tarch l~th, of each }~ear, tax receigts evidencing the payment of all 1aw•- ~ fully im~ taxes for the prececling calendar year; to deliver to the Association receipts evidencing the payment oE all liens ~ for public impmvements v~~thin ninety (90) days aher the same shall hecome due and payable, and to pay or discharge within ninaty (90) da~~ after due date, any and all govemmental levies that may be made on the mortgaged property, on this mortgage ~ ~r note, or in any other way resulting from the mortgage indebtedness sec~red by this mortgage. Y Y A • ' :.~e ~ : aoo~~40 P~~584 3 a : ~ . ~ F ~ - w~. ~ - _ ~ ~ _ . . .1 ~ ~ ~ . - _ ~ h_ _