HomeMy WebLinkAbout2248 at all timesp~
ocobly and quietly to enter upoa, bold, oocupy and enjoy sa~ land; that said land is frre from all cx?cumbrances;
chat they wiB make such fuither ass~uanoa~ to pedeat tLe hs dmple ticle to said land iu che AuociuKon as may reasonably be
reqiured; aixl that they do hereby fully wurant tLe tltb to said land and will defend the same against the tuwful claims of
all persons who~nso~ver.
PROVIDED ALWAYS that if tl~e Mortgagors shaU wcll and huly pay unto the Association, the indebtedness evidenoad
by that ce~in promissory noee, of evea date berewith, a~ade by the Mortgagors ana payable to the Axsociatioa, in the principai
Sum oE ~n+e_.Million..F~vr_Iiundred.Eighiy__Thnusand.s~nd_Nn/_iQQ-.---.-.--nolla~s (i1.48Q,.OQO. 0~
which note, together with interest thereon as therein specified, is PaYable in monihly instal)ments of 3DtBrBSt.pe~y174SI1t8.
due__on.the.l8th_day___of each month.during,the_ first twelve,months;___and_ then Twelve Thousand
.
_ _ _ _ _
S -FQ~r_~~.~YQ 100-----------------'-'--- '---'-'-"-.__.--_,_-_---_-r
.:~Doltars (i~~,D64.DQ__
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on ihe-------lat.~1.----.day of each manth commenring with_-----•-~12ri~--1$*~$~'',~,~ . which PaYmer~b
are to be appLed, first to inter~~st„ and tbe balance to princip4l, until said ti!
jaid' ib'~oUr aa~y
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y the As~oc.~iatiai to tl~e M
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at any time before the release and cancellation of tbis maatgage, buc at no time shall this mortgage secure advanocs oyn
ao~t
of said origiaal note together with svch additional advances in a sum in ezcess of QII@ ~ltinn i+'n~ »n r@d
Eight~Thousand and No1100--- ~;1~.480~0OO.Opphts ~y a~,~,~ ,~zy
co protect the secudty and costs, tl~ea this deed and t}~e ~tate hereby cxeated shall ceasc and be null and void.
AND THB MOA
PGAGORS DO hereby a~venant and agree:
l. To pay atl aad smgular the p~incipal and intesest and otl~ei sums of maney payable by virtue of said promissory note
and thic moatgage, or eitl~, promptly on the days respectively the same seve~aliy ooane dne.
2. To pay all snd singular tbe tazet. a~ts, ]evies, liabilities, obligations aud incvmbrances of every nature aad kind
now on said d~cribed pmperty, a~ that hereafter map be im~, suffered, Placed, levicd, ar asse~ed thereo~n, or that hereafter
may be levied oz acsessed upon t6is Matgage, or the ind ess secured hereby, each a,ad every, when due and payable,
accard~ng M 1aw, before they beoome delinquent, and beFore any interest attac~es or an alty is incurred; and in~ofar as
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any thereof is af reoorcl the ~ ahaIl be prompt}y satiified and dilcharged of reoord an o~iginai offidai doc~mnent (such
as, for instance, the taz reoeipt or the satisfaction PaPer offic~allY eadorsed or oe~tified) shaU be placed in t6e bands af said
Assoc;atioa as Mottgagee within ten daya ne:t after payment; and in the event that any tha+eaf is not paid, satitfied and dix~ged,
said Association may at any time pay the same ar any patt th~+eof without waiving o~ affecvng any option, lien, ecluity or ri t
e
under ~ by virt~e of this Mortga e, and the full amo~mt of each and every such payment shaIl be immediately due and ya le
g amo m
and shall beat inberest fmm tbe date thereof until paid at the rate stated 'm the note secured hereby and together with suc inter-
est shall be sec+n~ed by the liea of this Mortgage.
3. To keep the baildings and all equipmenc and penonal property no~r or hrreaEter on wid premisa oovered b~ this mortgage~
insured in a sum equal w ac kast the amounc of chc mortgage. or aa auwunt snfficieat w eomply with any oo-inwranoe reqpire-
ment aovering the same undcr the la~ oE the State oE ~7orida, oorering loss from both fit~e and storm, noaking tbe lps under :aid
policia, nc~ and every, payabk to the Asfociation. as mortgagee, as its interat may appar. and said inwrance :hall be in a g~od
and responsi6lt insuranoe company sacisiaccory co aaid Aseociation. and writeen bp a raponsible loul agent utistactorp w~ai~d A~o-
ciation: and the policy or poticia shall bear a standard mortgage diuse writhout oonttibation, and. if t6e original prindpal amount
oi the martgage is Fiitp Thomaad and no/ ] 00 Dollus (i50,000.0~ or in acaes thet~wf. ~hall be held by the Aaociation. and. in
che eveat any sum oE monep beooone: papable under wch poliry or policies, the As~ociation shall have the opcion to reoeive and appl~
che same on aooount of the indebcednas hereby secured, or to permit che mortg~gon to reoeive and uut it, or an~ part tba+eof. for
ocher pnrposes. r?ithout thrrcby ~raiving or ~m~~ri~ ~r ~~cr i~~. or right under and b~+ virtue of this mortgage, and may
place and par Eor such insunnee. or any pare themof, ~rithouc rraiving or aEEecting ia opcion to forec~ose. or any right hereunder.
and the full amount oE eac6 and every such papment shall be immediately due and payabk and ahall bear interest from the date
[hereof until paid at the nte stated in the note secured hereby and together with such inta+at shalt be socured b~ the lien of this
Mongage.
, Topern?~t, commit, or suffer no waste, impairment or deterioration of said property, or any part tLereof, and upon
the failure of t6e mortgagors to keep the buildings ~ said pmperty in good rnndition of repair, the Association may demand the
immediate repair of said buildings or the immediate repayment of the debt hereby socured, and the failure of the mortgagon
to oomplv with said demand of tbe Association for a period oE Thirty (30) d~ys, shall constitute a breac6 of this mortgage,
j and, at t~e aptian of the Association, immediately mature the entire amount of pru~cip~t and interest her~eby secured, and the
; Association, immediately and without notice, may institute prooeed:q,s to foreclosc this mortgage and applv for the appointment
of a Receiver, as hereiaafter provideci.
5. This mortgage cbatract provides for additional advances which may be made at the option of the associatian aad
securEd by thi~ nxritgage, and it is agreeci that in the eveat of sucL advances the amount may be added to the mortgage debt
and shall incmaae the tmpaid ba)ance of the note hezeby secured by ihe amount of s~ch aclvanoe and shatl be a part of said
note indebtedness under all ihe terms of said note and tivs oontract as fuIIy ss if a aew svch note aad oontract were executed
and delivered. M additi~al advance ag,reement may be given and accepted far suich advance and provition may be made for
ciiffen~nt monthly paymenb and a different interest rate and other modificationa of the oontract, bat in all other respects
ihis contract shaIl remain in full force and effeet as to said 'mdebte~ including sII advances,
6. If any of the sums of maney herein referred M be not gramptly and fully paid within 1'~urty (30) ciays neut after
the same severally coma due and payabk, or if each and every the stipulations, agreea?ent, rnuditions, and rnvenants of said
promissory note and this deed, or eitber, are not dutY Per[ormed, ovmplied with and abided by, the aggc+egate anm mentioned
in said pr~missory note and any other amount or amoanb added to tbe mortgage indebtedness under tbe temu of thit mortgage
shaD beoome due and p~y~ble forthwith or thcreafter at the opt~ion of the Associatiwa, as fn~y and oompjetely as if said aggregate
sum~~money was originally stipulated to be paid on s~ch dsY• ~Y~B in mid proa~issoq? nate or herein to the c~ontrary not-
, &
, 7. To deliver to the Association, on or before March 15t6, of each ye~ar, tax reoeipts evideacing the payment of all Iaw-
' futly imposed taxes for the prececling calendar year; to deliver to the A,ssociatiou receipb evidencing the payment of all liens
for public moprovernents within ninety (90) days after the same shall heoome due and payablc, and to pay or discharge within
~ ninety (90) days after due date, any and all govemmental kvies that may be made on the mortgaged propecty, on this mortgage
or note, ar in any ~he~ way r~~sulting fcom the mortgage indebtedness secured by this morigage.
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