HomeMy WebLinkAbout2197 at alI times peaceably and quietly to enter npon, hold, oc~cupy und enjoy said lxnd; that si~id land is free from all encumbrances;
that they wil) make such further assuiances to perfeet the fee simple tide to said land in the Association as may reaionably be
re<~uired; and that they do hereby fuUy warrant the tide to said land nnd ~vill defe~d the same against the la~~~ful claims of
all perso~u whomsoever.
PROVIDED ALWAYS that if the rlortgagors shall well und truly pay unto the Association, the indebtedness evidenced
by tlwt certain promissory note, of even date here~vith, made by the Mortgagors and ~yable to the Association, in th~ principal
.~m uf _THIR,TY_-NINE THOUSAND AND.NO/100ths..-_ - - - - - - popz~ 39, 000, QO
~~~hich note, together with interest thereon As therein specified~ is payable in monthly installments of interest due
August 2, 1972, September 2, ].97.2, October 2, 1972, _ and then TWO HUNDRED EIGHTY-
ONE AND 90/ 100ths - - - - - - - - - - - - - - - - - - - - - - - -
- - - - - - - - - ~ . Doll3rs (f _ 2$_1 R.90 .
on the_... 211d_. .-----day of each month commencing with--.--- ----NilY.elrihP.r--~,---19.~2----------------------------------which paymenis
are to be applied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, eomply
~.~ith aad abide by each and every the stipulations, agreements, conditions and covenants of said pmmissory note and thLs
mortgage, Md, including any advanees maae by the Association to the Mortgagors, or their succ~ssors in tide, for any putpoae,
at any ti~e-~efare th~ mlease and cancellation of this mortgage, but at no time shall this modgage secure advances on account
of said original note together ~vith such additional advances in a sum in excess of_~~~~Y.-~~~_~~Q~S~~~_______ ;
AND NOj,10_0__th~.----------------------.-'------..-'--_-----_-----'- ~olla~s (s_39,.OIIU.-DD_.._), plus any advanc~es necessary ~
to protect the security and costs, then this deed and the estate hereby created shall cease and be null and void. f
AND THE MORTGAGORS DO hereby ctivenant and agree:
1. To pay all and singular the principal and interest and other sums of money payable by virt~ie of said promissory note
:~nd this mortgage, or either, promptly on the days respeMively the same severalty come due,
2. To pay all and singular the t~uces, assessa?ents, levies, liabilities, obligations and incumbrances of every nature and ldnd
now on said described property, or that hereaEter may be imposed~ suffered, placed~ levied, or assessed thereon, or thai hereafter
may be Ievied or assessed upon this Modgage, or the indebtedness securecl hereby, cach and every, when due and payable,
.icrording to law, before they become delinquent, and before any interest attaches or any penalty iS incurred; and 'uuofar as ~
any thereof is of recard the same shall be promptly satisfied and discharged of record and the original official doc~unent (such t
~s, for instunce, the ta: receipt or ihe satisfaction paper officially endozsed or oertified) shall be placed in ihe hands of said ~
~ssociation as ~iortgagee withui ten days next after payment; and in ihe event that anp thereof is not paid, satisfied and diSCharged, ~
said Association may at any time pay the same or any pazt thereof ~vithout waiving or affecting any option, lien, equity or right
under or by virtue of this ~liortgage, and the full amount of each and every such payment shall be immediately due andpa
yable
and shall bear interest from the date thereof until paid at the rate stated in the note securecl herebL and together with such inter-
est sholl be securecl by the lien of thic Mortgage. ~ y
f~
3. To keep the buildings and all equipment and personal property now or hertafter on said premisea covend by this mortgage.
;nsured in a sum equal to at leut the amount of the mortgage. or an amount suificient to comply with any co-insurance n~quire-
menc mvering the same under the laws oE the State of Florida, toveting loss trom both iire and storm, making the laas unda said
policies, each and every, payable to the Association, as mortgagee. as its interest may appeu. and said insunnce shal! be in a goai
and responsible ir?surance company satisfactory to said Association. and written by a responaible local agent satisiactory to said Asao-
ciation; and the policy or policies shall bear a standard mortgage dause without contribution, and, if the original principal amount
o( the mongage is Fi[ty Thousand and no/100 Dollats (f50,000.00) or in e~ccaa thereof. shall be held by the As,wciation. and. in
che event any sum of money becomes payable under such poticy or policies, the Association shall have the option to receive and apply
the same on account oL the indebtedness hereby secured, or to permit the mongagots to receive and use it, or anr part thereof, for ~
other purposes, without thereby wai~ing or impairing any equity, lien, or right under and by vittue of this mortgage, and may
place and par tor such insunnce, or any part thereot, without waiving or aftecting its option to fotrclose, or any rigt~t hereunder.
and ehe [ull amount of eac6 and every such pa~nnent shall be immediately due and payable and shall bear interest irom the date ~
ehereoE until paid at the nte atated in the no[e secured hereby and together with such interest shall be setured br the lien oE this ~
:~iortgage.
To permit, commit, or suffer no waste, impairment or deteri~ration of said propert~~, or :iny part ihereof, and upon
the failuro of the mortgagors to keep the btuldings on said pmperty in good condition of repair, the :~ssociation may demand the '
;mmediate repair of said bu;ldings or the immediate repayment of the debt hereby svcured, ancl the failure of the mortgagors ~
to rnmply with 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, immediatelp mature the entire amount of principal and interest hereby secured, and the
~ssociation, immediately and without notice, may institute pmceedings to foreclose thu mortgage and appl~~ for the appointment
of a Receiver, as hereinafter provideci. "
5. This modgage contract prnvides for additional advances which may be made at ihe option of the auociation and
secured by this 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 such advance and shalt be a part of said
note indebtedness under all the terms of said note and this contract as fully as if a new such note ;~nd contract H•ere executed
.?nd delivered. An additional advance agreement may be given and accepted for such advance and provision may be made for ;
ciifferent monthiy payments ~nd a different interest rate and other express malifications of the contract, bui in all other respects
chis contract shall remain in fa!! force and effect as to said indebtedness, including all advances. ~
6. If any of the sums of money herein referred to be not pmmpdy and fully paid within Thirty (30) days next after
the same severally come dae and payable, or if each and every the stipulations, agrc~ement, conditions~ and covenants of said
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 any other amount or amounts added to the mortgage ir?debtedness under the terms of this mortgage
shall become due and pa}'~ble Eorthwith or thereafter 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-
~yithstanding. "
To deliver to the Association, on or before !1~arch 15th, of each ye~ar, tax receipts evideneing the payment of all 1a~-
fully im~ taxes for the preceding calendar year; to deliver to the Association receipts evidencing the payment of all liens
for pub ' uwprovements within ninety (90) days after the same shall hecomc due and payable, and !o pay or discharge within
ninety (90) days after due date, ar~y and all govemmental levies that may be made on the mortgaged property, on this mortgage
~r note, or in any other way rnsultin~ from the mortgage indebtedness secured by this mortgage.
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