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HomeMy WebLinkAbout3067 2pi~o~a to •~iiM ~mt ~ I~e1t~'~H .~t all Nmes peacrably and quietly to eute~ upon, huld, cxrupy and enjoy s:~id land; that s:?id lund u frc~ from all encumbranec~s; that they will make such further assuzances to perfeet the fee simple title to s:~id land in ttie Association as may rcasonaUly lx• r~~cjiured; and that they do hereby fully warrant the tide to said land and will defend the same against the lawf~~1 t•lain?s uf :;Il penons ~vhomsoeve~, PROYIDED AL~~'AYS thut iE the \fortgugors shall well and truly pxv unto che a~.~x•;;?tion, the imlrbteelnrsc e~•idenc~ecl h~• that certain promissory note~ of even date here~vith, mado h~• ttir t1~rta~~^zs znd jx?~•uhte tu the As~oci.+tion, i~? thr~ ~rinc•i~~:tl FIVE THOUSAND AND NO/100-------------------------- 5 000.00 :um of Doll:us ( S ' ) . hich note, together wlth interest thert~n as themin s~xcifieci, is pa~~able in munthiv installmrnts of SIXTY AND 67 / 100 1?~llars (S 60.6? un the 4th day of each month c~mmencing ..•;ch _ January 4, 1973 _ which ~ayments .~re to be :~pplied, first to interest, and the balance to principal~ until said indebtedness is paid in full, and shall perform, comply ~~•ith and abide by each and every the stipulations, agreemei?ts, conditions and covenants of said promicsory note and this mortgage, And, including any advances made by the Association to the ~iortgagors, or their successors in title, for any purpose, at anv time before the release and rancellation of this mortgage, but at no time shal) ihis mortg~ge secure advances on account ~~f s:?id original note together with such additional advances in s sum in eacess of_._ FIVE THOUSAND AND NO/ 100 - - - - - - - ances nece Dol]ars (s , 000. 00 p~~ anv adv ssan• to proteM the security and costs, then this deed and the estate herebv created shall cease and be null and ~~oid. AND THE itORTGAGORS DO herehy eu~~enant and agree: 1. To pay all and singular the principal and interest and ut;~e? sums of money payable by ~zrtue of said promisson~ nutc .~r~ci 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, obligaNons and incumbrances of every nature and kind now on said described pmperty, or ihat hereafter may be imposed, sufferecl, placed, levied, or assessed thereon, or that hereafter ma~• be leviecl or assessed upon this ~iortgage, or the indebtedness securerl hereby, cach and every, when due and payable, .~ccord'u~g to la~v, before they become delinquent, and before any interest attaches or any penalty is incurmd; and insofar :u .iny thereof is of record the same s1?all be promptly saiisfied and dischargecl of tecord and the original official document (such ~s, for instance, the tax receipt or the satisfaction paper offieially endorsed or certified) shall be placed in the hands of said .~ssociation as \ioctgagee ~~zthin ten days next after payTnent; and in the event that any thereof is not paid, satisfied and discharged, said Association ma~ at any time pa~• tl~e same or an}' part thereof a~thout waiving or af(ecting a~~y option, lien, equih~ or right under or bv virtue of this ~tortgage, and the fnll amount of each and every such payment shall be immediatelv due andpa yable ::nd sh~ll bear interest from the date thereoE until paid at the rate stated in the note secured hereb~• and together ~+~ith su~h intcr- ~~st shall be secureci by the lien of this :~lortgage, ~ 3: To ktep-tht buildings and all equipment and penonal property now or hereafter on said premises coveted by this mortgage. insured in a sum equal to at least the amount of the mortgage, or an amount sufiicient to comply with any co-iruurance trquire- ' ment covering the same under the laws oE the State of Florida, co~•ering loas from both [ire and storm, making the Ioss under said policies, each and e~•ery, payable to the Associatiou. as mortgagee, aa its interest may appear, and said insurance shall be in a good and responsible insurance comNany satix[aceory to said Association, and writeen by a responsible local agent satis[actory to said Asso• ciation; and the policy or policies shatl bear a seaudard mortgage ciause without contribution. ar~d, i[ the original principal amount ' of the mortgage is Fifty Thousand and no,f 100 Dollan (j50,000.00) or in excess thereof, shall be held by the Association, and, in che e~~ent any sum of money becomes payable under such policy or policies, the Association shall have the option to receive and apply ~he same on attount of the indebtedness hereb}' secured, or to permit the mongagon to reteive and use it, or any part thereof, for other purposes, without thereby wai~~inq or impairing any equity, lien. or right under and by virtue of this mortgage, and may p[ace and pay tor such insurance, or any part thereof, without wairing or affecting its option to [oreclose, or any right hemunder, and the tull amount o( each and e~•ery such pa1ment shall be immediately due and payable and shall bear interest from the date chereof until paid at the rate stated in the note secured hereby and togecher with such interest shall be secured bq the lien oE this Jtorcgage. ~1. 7'o permit, cemmit, or suffer no avaste, impairment or deterioration of s~id propert~-, or any part thereof, and u~wn thc faiiuro of the mort~a~ors to keep the buildings on said propert}• in good conditeon of repair, the Association may demand the irnmediatc re~ir of said bu:Idings or the immediate repayment of the debt hereby secured, and the failur~ of the mortgagors t~~ compl~ ~r-ith said demand of the Association for a periocl of Thirtv (30) days, shall constitute breach of this mortgage, and, at the option of the Association, immediatelv matt~re the entire amount of principal and interest herebv secured, and the lssociation, immediately and ~cithout notice, may i~utitute proceedin~s t~ foreclose this mortgage and apph• for the appointment ~~f a Receii•er, as hereinafter providerl. i ' This mortgage contract provides for addetivnal advanc~c•s ~+•hich ma~• be made at the option of the association and ~ecured by thu mort~age, and it is agreed that in the event of such advances the amount may be addeci to the morigage debt ,~nd shall increase the unpaid balance of the note hereby secured by the amount of such advance and shalt be a part of said note indebtedncss under aII the terms of said note and this contract as fu11y as if a new such note and contract ~~~ere executccl :~nd delivered. An additiona~ a<lvancc agreement ma~~ be gitien and accepted for such advance and provision ma}" be made for ciifferent monthh• p:i~•menis ::nd a different intrrest rate and other express modifirations of the contract, but in all other respects ~his contraet shall remain in full force and effect as to said indebteciness. including all advances. 6. If anv of the sums of muney herein referred to be not promptly and fullv paid ~a~thin Thirty (30? days next after the same se~•erally come dae and payable, or if each and every the stipulations, aorcement, condiGons, and covenants of said promissory note anct this deed, or either, are not duly performed, eomplied with and abided by, the aggregate sum mentioneci in said promissorv note and anv other amount or amounts added to the mortgage indebtedness under ihe terms of this mortgage shall become due and pa~~~ble forthwith or thcreafter at the option of the Association, as fully and completely as if said agnregate sum of money ~~•as originaUy stipulated to be paid on such dav, an~~thing in said promissory note or herein to the contrarv not- •~tithstanding. ' " - To deliver to the Association, on or before ~tarch Iith, of each ~•ear, tax receipts evideneing the payment of al) )a~~•- fotly imposed taxes for the preccYlin~ caiendar vear, to ~eliver to the Association receipts evidencing the payment of all liens for public improvements H•ithin ninety (90) days after ihe same shall hecome due and payable, and to pay or d"ucharge within ninety (90) da~~s after due date, any and all governmental levies that may be made on the mortgaged property, on this mort~a~e nr note, or in any other ~+•ay resulting from the mortgage indebtedness secureci h~- this mort~a~c~. 6QOK 209 ~A~E 62 ~ _ ^ a~_: _ - - _ _ - .