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HomeMy WebLinkAbout1645 at aU ti~espe~co4bly and qutetly to mter upon, hoW, oocuey and rnjoy snd lrnd; th4t said lar?d is Erce fran ~all rncumbranoes; that they will malce such fu~tl~er aa~IIanoet t~ perfed ths fas dmpb titb to said lu~d ia the A~s~ocyation as may rea~or~ably be required; and that t}rey do he~~cby fuHy warrant t6e tit]s ~o s~id la~i and will defmd the same against the lawful claims o( nq persw~s whoinsoe,wer. PROVIDED AL~VAYS that if the Alortgagon sha11 well and tndy pay unto the Association, the indebtedness evidetwed by that certAin promitsory tabe, of even date be~ewitb, auds by the Mortgagon and pay~able to the Association, in the ixincipral ~ ..TWENTY-SEVEN THOUSAND A~1ID_NO/~04---.----_---.-.------poltars (a 27.,_000.00 which aote, together with interest tl~ereon as therei~ sPeciEied, is payable in monthly installments of T WO HUNDRED _ SEVENTEEN AND 52/100-------------------------------------------------------- - . Do113rs (s.217.. 52 - - on the----lOth---------day of each moath rnmmencing with-,--- -.--.----~Ely__~9~__~~2_~_-----------------------------------W+hich PaYments are to be applied, first to interest, aad the balance to princ~pal, unW said indebtedness is paid in fuU, and shall peifom~, oom ~ m~ with and abide by each and every tbe stipulatans, agreements, conditions and oovenants of said promis~y rwte and ' mortga8e, And, includiag any advances made by the Association to the Mortgagors, or their successors in titlC, #or any purpose, at any time before the release and cancellation of this mortgage, but at no time shall this modgage secure advancrs on account of said original nate together with such additional advances in a sum in e:cess oE_S~bIE~iTY.~E.YEI~LT~iQIi.SA~1tI? AND NQ ---------------------_-.Dollars (;__2_7,_O~Q._UQ_._.), plus any advan~~c neces~ry - - - to protect the security and costs, then this deed and the estate hereby created shall cease and be null and void. i AND THE MORTGAGORS DO hereby euvenant and agree: 1. To pay all and singular the princi'pal and interest and other sums of money payable by virtue of said promissory note and this mortgage, or either, promptly on tbe days respectively the same seveially come due. 2. To pary all and singulu tbe tautes, a~sments, levies, liabilities, obligations and incumbrances of every nature and ]dnd now on said described ~perty, o: that hereafter may be imp~~ svEfered, placed, levied, or ass~ed thec+eon, or that hereaker may be levied or assessed upon this Modgage, or the indebtedn~ess secured hereby, cach and every, wben due and payable, according to law, before they become delinquent, and before any inte~st attaches or aay ~s incumed; and iruofar as any thereof is of record the same sl~alt be pmmpt~y satisfied and discharged of reoord and t~ginal official document (such ss, ~for instance, thc tax neceipi or the satisfaction paper officially endorsed or certiEied) shall be placed in the hands of said Association as Mortgagee within ten days next after payment; and in the event that any ihereof is not paid, satisfied and di~charged, said Association may at any time pay the sazne 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 immediately due andpa yable and shall bear inter~st frnm the date thereof until paid at the rate stated in the note serured hereby and together with such inter- est shall be sec~ued by the lien of ihis Mortgage. 3. To keep the_ buildinga and all equipment and petsonal propercy now or hereafter on said premises covered by this morcgage. inaured in a sum equal to at least the amount o[ the mortgage, or an amount sufficient to complr ~vith any co-inauranct t+equire- menc wvering the same under [he hws of the State oE Florida, mvering loas from both fur and swrm, waking the loas undrr said policies. each and every, payable w the Association. as mortgagee. as ics incerest-may appear. and said insurance shall be in a good and responsible insunnce rnmpany satisfattory to said Association, and written br a responsibk local age~t satisEactory to said Aaso- ciation: and the polic~r or policies shall bear a standard aartgage clause without eontribution, and, if the original printipal amount oi the mortgage is Fifty Thousaad and no/100 Dollars (j50,000.0p) or in excess thereof, stuD be held by the Associatioa, md, in the event any sum of money becomes payable under such policy or policia, the Asaociation shall have t6e option to receive and applp the same on acoount o[ the indebtedr?en hereby secured, or to permit ehe mortgago~s to reoeive and uae it, or any part then~of, for other purpaaes. without thereby waiving or impairing any equity, lien. or right under and b~r virtue of this mortgage, and may place and paY Eor suth insunnce, or any part thtreof, without waiving or affecdng its option to [oreclase, or any right hereunder. and the full amount of each and every such payment shall be immediately due and pajnbk and thall bear interest frnm the date thereof unW paid at t6e raee ataced in [he note secured hereby and togetder wit6 such interat shall be secured by the lien of thia Mortgage. 4. To permit, commit, or suEfer no waste, imp~innent or deterioration of said property, or any part thereof, and upon the failuro of the mortgagors to keep the buildings on said property in good conditan oE repair, the :~ssociation may demand the immediate repair oE said buildiugs or the immediate repayment of the debt hereby secured, and the failure of the mortgagors to oomply with said demand of the Association for a period of Thidy (30) days, shall eonstitute a breach of this mortgage, and, at the option of the Associadon, immediately mature the entire amount of principal and interest hereby secured, and the association. unmediately and without notice, may institute g~ceedin;s to forecbse this mor;gage and applv for the appo~tment of a Receiver, as hereinafter providerl, 5.. 1'fiis mortgage caihact g~+nvides for additiorwl advarkes which may be made at the option of the association ancl secured by this mortgage, and it is ageed that in the event of such advances the amount roay be added to the rmortgag,e deht and shall increase the imPaid balance of the aote hereby seciued by the amount of such advanee and sha11 be a part of said note indebtedness under aIi the ternu of said note and this oontract as fully as if a new such note and c~ontract w~ere ezacuted and delivered. M additional advanee agreement may be given and aceepted far such advance and provicion may be made for ciifferent monthly payments and a diffen~r?t interest rate and other modifications of the oontract, bnt in all other respects ihis contrad shall remain in full force and effect as to said 'mdebt~ including all advances. 6. If any of tbe sums of maney herein refened to be not promptlY and fully paid witbin Thirty (30} days next after the same severally come due and payable, or if each and ev~y the stipulations, agreement, conditions, and covenants of said promiswry note and this deed, ar either, ar~e aot duly perfoimed, complied with and abided by, the aggregate sum meatimed in said promissory note and any other amount or aawunts added to the martpage indebtedness under the te~ms of this mortg,age shaII become due and payable forthwith or thcr+eafter at the option of the Association, as fuDy and campletely as if said aggregate ~ o~~money was originally stipulated to be paid on such daY~ a"Yt~B PtOl1"~Y ~wte or herein m the contrary not- & 7. To deliver to the Association, on or before t~arch 15th, of each year, tax re+~eipb evidencing the payment of aI) Law- fuIly imposed tazes for the preceding calendar- year; to deliver to the Association receipts evidencmg the payment of all liens for pubLc im~o vernents withui ninety (90) days aker tLe same shaD heoome due and gayable, and to pay ~ diseharge within ninety (90) davs aker due date, any aod aU governme~ital kvies that may be made on the moctgaged pro~erty, on t6is mortgage or note, or in any other way msulting from the mortgage indebtedness secured by this mortgage. . . { ~0'K~V~ PACE~~~ ~4~ ~ ~sFFC~'i..+a. ~ - _ ,:$~=La ~ -=v . ~~~3'a~'~:~'.+~".