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Home My WebLink About1323 at aU times pe~ceably and quiedy to enter upon, hold, occupy und cnjoy sa~d lund; that suid land is ir~ from all eucumbrances; that they will make such further assurances to perfed the fee simple title to said land in the Association as mav reasonably bo required; and that they do hereby fuUy warrant the tide to said land a~d will defend the same against the la~~•ful claims of all petsons ~~•hamsoever. PRO~'IDED AL\VAl'S that if the ~tortgagors shall well nnd truly pay unto the Assoeiation, the inclebteclness evide~~eecl by that certain promissory note, of even date herewitb, made bv the ~fortgagors and p:?~•uble to the Asu~ciation, in tF~e princi~~:~l sum of THREE THOUSAl\TD 1VINE HUNDRED. AND_NO/10.0--------- Doll:?n (33, 900. 00 ~~~hich note, together ~vith interest thereon as therein specifieci, is pa~~.?ble in monthly installments of Seventy-eight and_ 62f10Q-----------------------------.-------------------------------------------- nollars (s ?8. 62 - - on the .15th ~y of each month commencing ~vith . NOVembeY` 15, 19?2 which payments - - :ire to be applied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, eomply .~•ith and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and this mortgage, And, including any advances made by the Association to the l~iortgagors, or their successors in tidr, for any purpose, at anv time before the mlease and cancellation of this mortgage, but at no time shall this mortgage secure advances on account oE s:iid original note together ~vith such additional advances in a sum in eccess of_THREE_ THOUSAND_1VINE HUNDRED AND NO/100------_-_-_----_-------- ~~~a~ (a_ .3, 900. 00_._.~, p~~ any advances necessary to protect the security and costs, then this deed and the estate hereby created shall cease and be null and sz~i~: A1~D THE riORTGAGORS DO hereby cuvenant and agree: , i. To pay all and singular the pru~cipal and interest and other sums of money payable by virtue of said promissory note :~nd this mortgage, or either, promptly on the days respectively the same severally come due, 2. To pay all and singular the taxes, assessments, l~.wies, liabilities, obligations and incumbrances of every nature and kind no~v on said described pmperty, or that hereafter may be imposed, suffered, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon this Mortgage, or the indebtedness serured hereby, cach and every, ~vhen due and payable, .?crording to law, before they become delinquent, and before any interest attaches or anv penalty is incurt+ed; and insofar as :?ny thereof is of record the same sl~all be promptly sutisfied and discharged of record and ihe original official document (such ~s, for instance, the tax receipt or the satisfactian paper officially endorsed or certified) shall be placed in the hands of said Associ~tion as '_ltortgagee «~thin ten days next after payment; and in the event that any ihereof is not Iraid, satisfied and discharged. said Association may at anv time p.1y the same or any part thereof ~vithout waiving or affecting any option, lien, equitv or right under or bv virtue of this ~tortgage, and ihe full amuunt 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 secured hereb~• and together with such inter- est shall be securecl bY the lien of this biortgage. ~ 3. To keep the buildings and all equipment and personal propeny now or hereafter on said premises covered by this mortgage, i~isured in a sum eyual to at least the amount o( the mortgage, or an amount suffitient to comply with any co-insurance require- mene covering the same under the laws of the Sta[e o[ Florida. covering loss (rom both fire and storm, making the loss under said policies, each and e~•ery, payable to the Association, as mortgagee, ac iu interest may appear. and said insurance shall be in a good and responsible insurance company satisfactory to said Association, and written by a responsible tocal agent satis[actory to said Asso- I ciation; and the policy or policies shall bear a standard mortgage dause without tontribution. and, if the original principal amount ~ o[ the mongage is Fi[ty Thousand and no/ 100 Dolla~s (j50,000.00) or in excess thereof, shall be held by the Association, and, in ~ che event any sum of money becomes payable under such policy or policies, the Association shaA have the option to receive and applr , the same on account of the indebtedness hereby secured, or to permit the mortgagors to receive and use it, or any part thereof, for other purposes, without thereby wai~~ing or impairing any equity, lien, or right under and by virtue of this mortgage, and may ~ place and pay [or such insurance, or any part thereot, without wai~•ing or a[[ecting its option to foredose, or any right hereunder. and the Eull amount o[ each and every such payment shall be immediately due and payable and shall bear interest [rom the date ~ thereof until paid at the rate seated in the note secured hereby and togeeher with such interext shall be secured by the lien oE this ~fongage. ~ 4. To permit, commit, or suffer no ~vaste, impairment or deterioration of s:?id propert~•, or :iny part thereof, and upon tt~e failuro of the mortgagors to keep the builclings on said property in good condition of repair, the Association may demand the immediate re~ir of said bu;ldings or the immediate reIraymer?t of the debt hereb~~ securecl, and the failure of the mortgagors to comply a~ith said demand of the rlssociation for a period of Thirty (30) days, shall constitute a breach of this mortgage, and, at the option of the Association, immediatelv mature the entire amount of principal and interest herebv secured, and the .-lssociation, immediately and ~~~ithout notice, mav institute pmceedinRs to foreclose thic mortgage and appl~• for the appointment ~f a Recei~~er, as hereinafter providerl. ~ 5. This mortgage contract provides for additional advancrs K•hich may be made at the option of the associ~~tion and secured by this mortgage, and it is agreed that in the event of such advances the amount may be added to the mortga~e debt and shall increase the unpaid balance of the note hereby secured by the amount of such advance and shall be a part of said ~ note indeUtedness under all the terms of said note and this contract as fully as if a new such note and contract H~ere executed :end deliverec]. An additional advance agreement may he given and accepted for such advance and provision ma}' be made for ciifferent monthlv pa~•ments .^.nd a different interest rate and other express modifications of ihe contract, but in all other respects ~ ~his contract shall remain in full force and effect as to said indebtedness, including all advances. 6. If anv of the sums of muney herein referred to be not promptly and fullv paid within Thirty (30) days next after ~ the same severally come due and payable, or if each and every the stipulations, agrc~ement, conditions, and covenants of said ~ promissory note and this dced, or either, aze not duly performed, complied with and abided by, the aggregate sum mentioned in said promissory note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage ~ shall become due and pav361e forthwith or thcreafter at the option of ihe Association, as fully and completely as if said ag~regate sum of money ~vas originally stipulated to be paid on such day, an~~thing in said promissory note or herein to the contrarv not- ~ ~vit}utanding. ~ 7. To deliver to the Association, on or before \tarch l~th, of each }'ear, tax receipts evidencing the payment of all laH~- fully imposed taxes for the prececling calendar vear; to deliver to the Association receipts evidencing the payment of aU liens ~ for pub~ic improvements w7thin ninety (90) days after the same shall tx~come due and payable, and to pay or discharge within ninety (90) da~~s after due date, any and all governmental levies that may be made on the mortgaged property, on this mortgage ~r note, or in any other w~ay resulting from the mortgage indebtedness secured by this mortgage. 800K~•V~ P~GE~<T~~ - - - = :