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Home My WebLink About1185 Abstract & Title Cc~rp. of ~lor'u~a . at aU timespeaceably and quiedy to eater upon, hold, occupy and cnjoy said land; that said land is frc*e from aU encurnbrances: that they will make such further asst~rances ~ petfoct tLe fee s[mP1e title to said land in the Association as may reasonably bc required; and that they do hereby fully warrant ihe title to said land and will defend the same against the lawful claims of aU persons whomsoever, PROVIDED AL~VAYS that if the I?iortgagors shaU weU and tnily pay unto the Association, thc indebtedness evidenced by that certain promissory note, of even date hetewith, made by the biortgagors and payable to the Association, in the principal sum oE T~R'TEEN_THOUSAND FIVE HUNDRED AND NO/ 100ths po~~,i~ ~s 13, 500. 00 which note, together with interest thereon as therein specified, is payable in monthly instaliments of ONE HUNDRED SIX AND 71 / 100ths_ ' - - _ - - - - - - - ' - - - - - - - - - - - - - - - - - - - - - - - . Do113rs (i..1.06.-?-1 - - - Au st 10 1972 on the------ - lOth------day of each month commencing with.----.- ---------'-------_-_----------------------------------which payments are to be applied, first to interest, and the balance to principal, until said indebtedness it paid in fu~, and shall perform, comply with and abide by each and every the stipulations. agreements, conditions and coveaants of said promiss~ry note and this mortgage, Md, including any advances made by the Association to the Mortgagors, ~or their successocs in titlC. for anY P~P°~e~ at any time before the mlease and cancellation of this mortgage. but at no tune shall ihis mortgage secwe advances on account of said original note together ~vith such additional advances in a s~un in excess of___THIRTE~N_THOUSAND___ _ FIVE_FiUND~~II~_AND__lY4/.l4Qt_h~__-_~~_ - -_.-_.Dollars (i-----~3~_ 500:_~~_), Pluc any advances necessarv to protect the sccurity and costs, then this deed and the estate hereby created shall cease and be null and void. AND THE MORTGAGORS DO hereby cvvenant and agrec: 1. To pay all and singular the princi'pal and interest and other swns of money payable by virtue of said gromissory note and this moitgage, or either. promptly on the days respectively the same severally come due. 2. To pay all and smgular the taaes, a~ments, le.wies.liabilities, obligations and incambrances of every nature and ldnd now on said described property. ar that hereafter may be imp~a~. suffered, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon thic Mortgage, or the indebtedness serurecl hereby, cach and every. when due and payable, according to law, beEore they become delinqueat, and before any interest attaches or any penalty it incurrEd; and insofar as any t6ereof is of record the same shall be promptiy satisfied and discharged of record and the original official document (such as, for instance, the tau receipt or the satisfaction paper officiaUy endorsed or certified) shall be placed in the hands of said ~ssociation as Mortgagee within ten days next aftet 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 ~vithout waiving or affecting any option, lien, equity or ri t under or by virtue of this !1~ortgage, and the fu11 amount of each and every such payment shall be immediately due andpa ya le and shall bear interest from the date thereof until paid at tha rate stated in the note sec~red hereb~ and together with such inter- est shall be secured by the lien of ihis Mortgage. 3. To keep the buildings and all equipment and penonal propertr now or herra[ttt on said premixs rnvered by this mortgage. insured in a sum equal to at leut the amount of the mortgage, or an amount sufficient to mmply w+ith any co-insunna. require- ment mvering the same under the larvs of the Stace ot Florida, rnvering laas [mm both fire and storm, making che loss uader said ~ policies, each and every, payable to the Association, u mortgagee, as its interest may appear. and said inaurance s6i11 be in a good i and raponsiWe insurance company satis[aaory to said Association, and written by a responsible local agent satistaccory to said Asso- { ciation; and the policy or policies.shall bear a standard mortgage daux without mntribution, and. it the original prindpal amount ! of che mortgage is Fifty Thousand and no/100 Dollara (~50,OOO.QO) or in excas thereof. shall be held br the Aswciation. and, in ~ the event any sum of monep becoma payable under such policy or policies, the Association shall have the option to receive and apply che same on acoount oE the indebcedness herebr secured. or to permit the mongagois to receive and use it, or any part thercof. for other purposes, without thereby waiving or impairing any equity, lien. or right under and br virtue of tt~is mortgage. and may place and pay for such insurance, or anr pan theirof, without waiving or affecting its option to [orecloae, or any right hereunder. and the fWl amount of each and every such payment shall be immediately due and payable and shall bear interest [rom the date thereof until paid at the nte stated in the note secured hereby and together with such interat shall be secured by the lien oE this biortgage. To permit, commit, or suffer no waste, impairment or deterioration of said property, or :wy part thereof, and upon the failuro of ihe mortgagors to keep the buildings on said pmperty in good condition of repair, the Association may demand the immediate repair of said bu;ldings or the immediate repayment of the debt hereby securecl, and the failure of the mortgagors to comply ~vith said demand of the Association for a period of Thirty (30) days, shall constitute a breach of this mortgage, and, at thc option of the Association, immediately mature the entire amount of principal and interest hereby secured, and the Association, immediately and without notice, may institute proc.~eedin;s to foreclose ihis mortgage and app]v for the appoinhnent of a Receiver, as hereinaker provided. 5. This mortgage contract provides for additional advances which may be made at the option of the association and ~~,red by chu mortgage. and it is agreed that in the event of such advances the amount may be added to the modgage debt and shall increase the ur~paid balance of the note hereby sec~u~ed by the amount of such advance and shall be a part of said note indebtedness under all ihe terms of said note and this contract as fully as if a new svch note and contract v~•ere executed :,nd delivered. M additional advance agre~ement may be given and accepted for such advance and provision may be made for ~ c~~fferent monthly pay~nents and a different interat rate and other expras modifications of the contract, but in all other respects ~ ihis contract shall remain in full force and effect as to said indebtedness, inc]uding all advances. ~ 6. If any of tbe swns of muney herein referred to be not prompdy and fully paid within Thirty (30) days next after the same severaDy come due and payable, or if each and every the stipulations, ao eement, conditions, and covenants of said , promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned in said promissory note and any other amount or amounts added to tbe mortgage indebtedness under the terms of this mortgage shall become due and pay~ble forthwith or thcreafter at the option of the Association, as fully and completely as if said aggregate sum of money was originally stipulated to be paid on such day, anything in said promissory note or herein to the contrary not- witlutanding, 7. To deliver to the Association, on or before A~arch 15th, of each year, tax receipts evidencing the payment of all ]aw•- fully im~ taxes for the prececling ralendar year; to deliver to the Association receipts evidencing the payment of all liens for pub ' improvements within r.inety (90) days aker the same shall hecome due and payable, and to pay or discharge within ninety (90) days after due date, any and all govemmental levies that may be made on the mortgaged property, on this mortgage ~ or note, or in any other way msulting from the mortgage indebtedness secured by this mortgage. ~ ~A8~1t F~Gf ~~8~ ~ ~a ~ / : ~ ~ ' ~,"`~,`,a~ ~ ._~~z'~'" s. -3 ~ '~*,n ~.~~s~~~