HomeMy WebLinkAbout2355 ~pla0~a ~o ~1'~,~ a"!1 ~~e~suV
at all Nmes peacrably and quietly to enter upon, hold, cx,rupy a~~d cryoy said l.u~d; that said l:?nd is frc~ fro~n all rncumbrances;
that they will make such further assurances to perfect the fea simple title to said land in the Association as mav reusa?ably Uc
required; and that they do hereby fully warrant the tide to said land and ~vill defe~~d the same :~gainst tt?e la~~~fuf claims of
all persons ~vhomsoever,
PROVIDED AL~VATS that if the \fortg.igurs shull ~vell and tn~ly pav unto tlie ~lssociution, the indc6tcclurss evide~~ced
by that certain promissory note, of even date herewith, made by the \fort~gors and p:e~•uble to the As.scx•i:~tion, in thc~ princi~~:~l
.~?m of NINETEEN_ THOUSAND THREE HUNDRED FIFTY and no/ 100t~~~;~~ ~g 19, 350. 00
~~~hich note, together ~vith interest thertan as therein specifieti, is p:iyuble in monthlv installments of ONE HUNDRED
FORTY-SIX AND 1?/100ths-------------------------------------------------------
Doilars (S 146. 17 _ . .
on the _ 8th day oE each month c~mmencing ~~~th JailuaY'y-8 ---1°?-3----- which payments
are to be applied, first to interest, and the balance to principal, until said indebtedness is paid in ful1, and shall perform, comply
.vith and abide by each and every the stipulations~ agreements, conditions and covenants of said promissory note and tl»s
mortgage, And, including any advances made by the Assaciation to the Mortgagors, or their succescors in tidr, for any purpoae,
at any time before the mlease and rancellation of this mortgage, but at no time shall this mortgage secure advances on account
of said original note together ~vith such additional advances in a sum in eacess of._NINETEEN_THOUSAND
THREE,HUNDRED_FIF'TY.AND.NO/100ths-_--_--~11a~ (s_19, 350,_OQ,__), plas any advances necessan
to proteM the security and costs, then this deed and the estate herebp cmatecl shall cease and be null and void.
A11'D THE biORTGAGORS DO hereby cvvenant and agree:
1. To pay all and singular the principal and interest and other sums of money payable by virtue of said promissor,y notc
:~ncl this mortgage, or either, promptly on the days respectively the same severally come due.
2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind
now on said described property, or that hereafter may be imposed, suffered, placed, levied, or assessed thereon, or that hereafter
may be Ievied or assessed upon this :lfortgage, or the indebtedness serured het~eby, each and every, when due and payable,
acco~cling to law, before they become delinquent, and before any interest attaches or any penalty is incurreci; and insofaz .u
.iny thereof is of record the same shall be prompdy saiisfied and dischargecl of record and the original official document (such
as, for uutance, the tax receipt or ihe satisfaction paper officially endorsed or certified) shall be placecl in the hands of said
~ssociation as ~tort~agee ~a~thin ten days next after payment; and in the event that any thereof is not }aaid, satisfied and discharged,
said Associ~tion m:iy at any time pay the same or any part thereof ~~~thout waiving or affecting any option, lien, equih or right
under or by virtue of ihis ~lortgage, and the [ull amount of each and every such payment shall be immecliately due andpa
yable
~u?d shall bear interest from the date thereof until paid at the rate stated in the note sec~reci hereb~• and together ~vith such inter-.
est shall be secureci by the lien of ihis biortgage. ~
3. To keep the buildings and all equipmenc and personal property now or hematter on said premises covered by this mortgage.
;nsured in a sum equai to at least the amount of the mortgage, or an amount sutficient to comply with any co-insurante tequire-
ment covering the same under che laws of the State of Florida, covering la6s imm both tire and stozm, making the loss under said '
policies, each and every, payable to the Association, as mortgagee, as its ineerest may appear, and said insunnce shatl be in a goai
and responsible insurance company satis[actory [o said Association, and written by a responsible local agent satisfactory to said Asso-
ciation: and the policy or policies shall bear a standard mortgage clause without mntribution, and, if the original ptintipal amount
of the mongage is Fi[ty Thousand and noJ100 Dollars (s50.000.00) or in excess thereof, shall be held br the Association, and, in
the e~ent any sum oE money becomes payable under such policy or policies, the Association shall hare the option to receive and applr
the same on account o[ the indebtedness hereby secured, or to permit the mortgagors to teteive and use it, or any part thereof, for
other purposes, without thereby wai~•ing or iropairing any ec~uity, lien, or right under and bp virtue of this mortgage, and may
place and pay fot such insurance. or any part thereof, without wai~•ing or affecting its option to foreclose, or any right hereunder.
and the full amount of each and e~~ery such paymenc shall be immediately due and payable and shatl bear incerest irom the date
thereof until paid at the rate stated in the note secured hereby and together with such interest shall be secured br the lien of thit
~lortgage. _
I'~ To permit, commit, or suffer no ~ti•aste, impairment or deterioration of s~id propert~•, or :iny part thereof, and upon
! the failure of ihe mortgagors to keep the buildings on said pmperty in good condition of repair, the Association may demand the
j immediatc repair of said bu;ldings or the immediate reIrayment of the debt hereby secured, and the failure of the mortgagors
to rnmply ~vith said demand of the Association for a period of Thirty (30) days, shall constitute a bre:~ch of this mortgage,
~ and, at thc option of the Association, immediatel,v mature the entire ~rriount of principal and interesi herebv secured, and the
.~ssociation; immediately and without notice, mav institute proceedinas to foreclose this mortgage and apph~ for the appointment
~ nf a Recei~•er, as hereinafter pmvided. ~
~
( 5. This mortgage contract provides for additiunal ad~~ances ~~•hich may be made at the option of the association and
E secured by this mortgage, and it is agreed ihat in the event oE such advances the amount may be addecl to the mortgage debt
~ and shall increase the unpaid balauce of the note hereby secured by the amaunt of such advance and shall be a part of said
E note indebtedness under all the terms of said note and this contract as fully as if a new such noie and conUact ~~ere executecl
; :,nd delivered. An additional advance agreement may be gi~•en and accepted for such advance and pmvision may be made for
~ c~ifferent monthlv pa~~ments and a dif(erent interest rate and other express modifications of the coi~tract, but in all other respects
~his contract shall remain in full force and effect as to said indebtedness, including al) advances.
6. If any of the sums of muney herein referred to be not promptly and futiy paid within Thirty (30) days next after
the same sevenliy rnme due and payable, or if each and every the stipulations, agrcement, conditions, and covenants of said
; prornissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned
; in said promis~ory note and anv other amour.t or amounts added to the mortgage indebtedness under the terms of this mortgage
~ shall become duc and pa~~ble forthwith or thcreafter at the option of the Association, as fully and completely as if said aggregate
sum of money was originaliy stipulated to be paid on such dav, anvthing in said promissory note or herein to the contrarv not-
~ tivithstanding. ~ ~ "
= i. To deliver to the As.sociation, on or before ~tarch 13th, of each ti~ear, tax receipts evidencing the payment of all la~--
~ fully imp~sed taxes for the preceding calendar vear; to deliver to the Association receipts evidencing the payment of all liens
for public improvements w~ithin ninety (90) days after the same shall become due and payabie, and to pay or discharge within
~ ninety (90) da~~s after due date, any and all govemmental levies that may be made on the mortgaQed property, an this mortgage
~r note, or in any other was~ resultin~ from the mortgage indebtedness secured bv this mortgage. .
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