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HomeMy WebLinkAbout2038 i at all timespe~oesbly ~nd quietly to cnter upon, hoid, axv~?y and enjoy saxi l~nd; tf~at said land b(ree f~ap all cncumbnncas: t}~y sa that wilt make w~ch [u~ther ara~earoet to pe~fect tbs fes da~pb titk to said laad in the As~oci;?tbn u ma rea~oiubly be ~ nquired; and t}~t tbey cb herebp fWl~? warrsat d~e title to tztd ~nd rnd wiU defe~d the same :gafnst the ~viul clairns oE all pe~is who~nsoevet. PROVIDED ALWAYS tlwt if the 1~1atgagas s1wU weU and truly pay unto the Associatia~, the indebted~ess eWde~wed by that certain pronaissory ~ote, oE evai date he~witb. m~ds by tbe Morigagors R~d p~.~ub1e t~ ihe ,1s~ristfan, in !hr Txincipel n,m oE EICzFiTEE111_TIiOtISANi2 AND_NO/.l0Utlls- - - - _ -flollars (i 18, 000,00 which note, together with interest theceon as therein sPecifkd, is p~yable i~ monthly instal)ments of ~NE HUNDRED - - - - - . ~ .TH~TX-~~~F~.~lI!TA. O2./~OOth$-_ - - - - - - - - - - - - - - - - - - - . . nollars (=_133. 02 . - - ? on che._,.- ~Oth ------daY of each manth commencing w;~h----- Ma~ 20~_ 1972 ---_whtch p4y~ne~,r~ ; are to be u~p~, first to interest, aad the balance to princapal, until said indebtedness u p~id in full, and shaQ perforim, oomply with and a~ide by each and every the ' tions, agtcements, conditions and oovenants of said promissary note and t~is ~ modga8e, And, indudiug any advanoes ~by the Assoeiation to the Moitgagon, ar their sua.~essors in titla, for any purpose, at any time before the rekase and csncellation o~ t1?is mo:tgage, bnt at no time shall this mortga~e secwre advanoes on account of said original note together with such additional advances in a sum in excess of~~'*~~EN T~iOUSAND th ~--------nouars (=__1fl,QDQ Q--), plus any aavance.s neces~rv _ ._AN12_l~~?1_1QQths_'__ to protect the sectuity and costs, then this deed and the estate hereby created shall ~ease and be null and void. ~ AND THl's MOR1'~=AGORS DO hereby cvvenant and agree: 1. To pay alt and smgular the ~xincipal and interest and other sums of money payable by virtue of said prom;ssory note and tlus mortgage, os eithe:, prompdy on the daYs respeMivelY tbe same seveially come dne.- 2. To gay all and singnlar t~e m~ces, as~nents, levies, liabilities, obligatioas and incwnbrances of every nature and kind now on said described prnpe.~ty, or that hereafter may be~, sufEered, ced, levied, or ass~ssed theteon, or t6at hereaker may b~ levied or a~ed upon this Matgage, or tbe edness hereby, cach and every, when doe and pa ble, according to law~ i~efore they beoome delinquent, and before any interest attaches or anypen alty it incurred; and ~ as any there~f is of recor~ the same shall be promptly satisfied and discharged of reaord and the original official doc~mei?t (such as, for inttance, d~e tas receipt ar the satisfaction paper officially endorsed or certified) shall be ptaced in the hands ~ said Associatioa as Mortgagee within ten days nert akez payment; and in the event that any thereof is not paid, satisfied and discharged, said Association may at any time pay the same or any part thereof without waiving or affecting any option, lien, equity or righ t under ~ by virtue of this riortgage, and the full amount of each and every such payment shall be immediately due andpa yable and shall bear interest from the da~e thereof until paid at the rate stated in the note secured hereby and togethcr with such inter- est shall be sec+~red by ihe lien of thia Mortgage, ~ 3. To keep tlie buildings and all equipmtnt and pezsonal proptttr no~v or hereafter on said premiaes oovtted b~ this mortgage, insured in a sum equal to at teast the auaunt oF che mongage. or an amount sufficient w comply with any co-insuranae requur ment o~vering c6e ~~~e under the laws of the State ot Florida, oovering loss f~+om both tire and storm. making the las under :aid policies. each and every, payable to the Associacion. as mortgagee, as iu interesc may appar. and said icuurance s6all be in a good and raponsiWe insurance company satisEaaory eo said Association. and writtrn br a rapon:ibk lonl agent sacisfactorp to said Asso~ ciation: and the policy or policia shall bear a standard mortgage clause without oontribution, and. if the original principal amount of the mongage ~s Fifty Thousand and no/100 Dollan (=50,000.00) or in e~cce~ thereof, shall be heW by the Assaciation, and, in che event any sum of mone~r becoma papable under such policy or poliue,s, the Assoaation shali have the option to rective and apply che same on acoount of the indebtedneu 6ereby secured. or to permit the mortgagois ta meive and use it, or any put thereoE, for ocher purposta, without therebr waiving or impairing any equit~, lien. or right under and b~ vinue o[ this mortg~ge, and may place and pay Eor such insurance, or anr patt thereof, without wraiving or af[aciag its option to Eoreclose, or any tight her~under, and the [ull amount of each and rvery such payment thall be immediaceiy due and p~yabk and shall bear interat Emm the date chereof unW paid ac the nte auced in the note securod hrrebr and together ~rith such intese:t s6all be secured by th~ lien of this MorcgagG 4. To pem~it, oommit, or suffer no waste, impairment or detereoration of said property, or any pait thereof, and upon the failure:. of the mortgagors to keep the buildings on said p~perty in good condition of repair, the lssociation may demand the immediate repair of said buildingg or the immediate repayment of the debt hereby secured, and- the failure of the modgagors to comply with said demand of the Association for a period of T~rty (30j days, shatl constitute a breach of this awrtgage, and, at the option of the Association, immediately mature the entire amount of principal and interest hereby secured, and the As9ociation, immediately and without notice, may institute proceedin;s to foreclose this mortgage and apply for the appointment of a Receiver, ae here~after ptuvided. ' 5. This mortgage mntract pruvides for additional advances which may be made at the option oE the association and secured by this mortgage, and it it agreed that in the eveat of soch advances the amount may be added to the mortgage debt and shall increaae the tmpaid balanoe of tl~e note hereby sec~u~ed by t}~ amount of such advanee and sh111 be a part af said nate indebtedness under all the tera~s of said note and this oo~?traM as fully as if a new such note and oontract were executed and delivered. An additional advance agreement may be given and accepted for such advanoe and provision may be made for different monthly paymentr and a diffe~ent interest rate and other eipress modifiratioas of ibe contracc, but in all other respects ihis contrad sl~atl remain in full force and eEfect as to said indebtedne,ss, s?cluding aD advances. 6. If any of the svms of maney hereui refetred to be not promptly and fully paid wit}un ThiKy (30) days ne:t after the aame severally come due and payable, or if e~ach and every ihe atipulations, agireement, conditions, and covenants of said promissory note and this deed, or either, are not diily performed, complied with and abided by, ihe agg,~egate sum mentia~eci in said ptnmissory note and any other au~o~mt ar amounts adde~ to tbe mortgage indebtedness imder tl~a terms of this mortgage shall baoome due and payable forthwith or thcreafter at the option of ibe Association, as folly and oampktely as if said aggregate ~ o~f ~ ey was originally stipulated to be paid on such dey, anything in said promissory note or herein to the contrary not- & 7. To deliver to the Association, on or before March 15th, of eacb year, tax receipts evidencing the payment of all lav?- fully im taxes for the preceding calendar year; to deliver to the Association receipts evideac~g the payment of aD lieas for pu ' improvements within nu~ety (90) days after the same shall hecome dur and payabie, and to pay or disc}wrge within ninety (90) dava after due date, any and all governmental kvies that may be made on the mortgaged property, ~ this mortgage or r~ote, or ir~ any other way resulting from the mortgage indebtedness sec~red by ihit mortgage. ~ ~ ~~~Oi ~ . _ ~ - ~ ~ .