HomeMy WebLinkAbout4922 at alt Nmes pe:ice~ably and quiedy to enter upon, hold, ocrupy and cnjo~~ s:iid lund; that s:~id L•?nd is free irum all encumbrances;
that they will make such further assurances to perfect the fee simple title to ssid land in the Association as mav re.lsonably tx
required; and that they do hereby fully warrant the tide to said land and wil) ciefend thc ~ame against the la~~•ful claims of
all persons ~~~humscever. ~
PR(IVInFn AL\~'Al'S that if the ~iorc~;:?go~ shall ~vel) and tndy pa~~ w~to the .~ssa•iation, thr indeUteclnrss evideuced
by that certain promissory note, of even date herewi IIlBde ~Y tfle ii~ii a cfrs iiiiU ~;z~;cu r~u t ~e :z:,:RU:~i~ ia.
. $ E . i-------~
~?~m oE TWENTY-EICiHT .THOUSANI~ AND NO/100ths--------------- i~ll:~rs ~3 28, 000, 00
«~hich note, together u~th intemst therean :?s therein specified, is p:?~•able in manthly installments of TWO HUNDRED
TW.O ANI~ 39/100ths--------------
- - . Doll~rs (s 202. 39 _
on the. . H~1 day of each month a~mmen~ing with . F.@~~lla~y..~.___1~7~.___________________ which payments
.ue to be applied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, eomply
With and abide by each and every the ~ stipulations~ agreements, conditions and covenants of said promissory note and thic
mortgage, And, including any adtiances made by the Association to the ~iortgagon, or their successors in tidc, for any purpose,
at any time before the release and rancellation of ihis mortgage, but at no time shall this mortgage secure advances on account
oE s:iid original note together with such additional advances in a sum in escess of____TWENTY_-EI~HT__TH4U~AI~IJ~
AND NO~1QOths_---_-,-_-----_-------_---.-.---- Dollars (s. 28,_000. OQ__ , plus any advances necessan•
,
to protect the security and costs, then this deed and the estate herebv created shal) cease and be nul! and void.
AND THE hiORTGAGORS DO hereby cuvenant and agree:
1. To pay all and sinpiilar the principal and interest and other sums of muney ~:tyabte by virtue of saia promissory nUic
:~nd 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 de.seribed pmperty, or that hereafter may be imposeci, suEferecl~ plaeed, levied, or assessed thereon, or that hemafter
may be levied or assessed upon this Mortgage, or ihe indebtedness secured hereby, cach and every, ~vhen due and payable,
:,ecording to la~v, before they become delinquent, and before any interest attaches or anv penalty is incurred; and insofar as
:iny thereof is of record the same shall be promptly satisfied and discharged of record and the original official document (such
as, for instance, the tax receipt or the satisFaciion paper officially endorsed or certified) sha11 be placeci in the hands of said
Association as ~fort~agee ~vithin ten davs next after 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 afiecting any option, lien, equih• or right
under or bv virtue of this ~iortgage, and ihe fall amuunt of each and everv such payment shall be immecliatelv due and pa~•able
and shall bear interest from the date thereoE until gaid at the rate statecl in the note sec•urecl hereb~• and together with sueh inter-
est shall be secuied by the lien of this ~iortgage. ~
3. To keep the buildings and all equipmenc and personal property now or hereatter on said premises covered by this mortgage,
insured in a suw equal to at least the amount ot the mortgage, or an amount sufficie~t to comply with any co-insurance requite-
ment covering the same under [he laws of the Scate of Florida, covering loss [rom both tire and stoRn, making the loss under taid
policies, each and every, payable eo the ~lssociation. as mortgagee, ac its interest may appear, and said insurance shall be in a good
and responsible insurance company satisfactory to said :~ssociation, and written by a responsiblt local agent satisfactory to said Asso~
ciation; and the policy or policies shall bear a standard mottgage dause without contribution, and, i[ the original principal atnount
of the mortgage is Fi[ty 7'housand and no/100 Dollars (j50,000.00) or in excess thereof, shall be held by the Assaciation, and, in
the event any sum of money becomes payable under such policr or policies, the Association shall have the option to receive and apply
the same on account of the irdebteclness hereby secured, or to permit the mongagors to receive and use it, or any patt thereot, for
other purposes, without thereby wai~~ing or impairing any equity, lien, or right under and by virtue of this mortgage, and may
plate and pay for such insurance, or any part thereof, without wai~•ing or affecting its option to ioreclose, or any right hereunder.
and the [ull amount o[ each and every such payme~u shall be immediately due and paYable and shall bear interest from the date
chereof until paid at che rate stated in the noee secured hemby and togecher wieh such interest shaA be secured br the lien oE this
~ ~fortgage.
~f. Ta permii, ccmmit, or suffer no ~~•aste, impairment or deterioration of suid prupert~~, or :iny part thereo[, and upon
the failuro of the mort~agors to keep ihe buildings on said Property in good condition of repair, the Associatiun may demand the
:mmediate repair of said buildings or the immediate repayment of the debt hereby scrured, and the failure of the mortgagors
; to comply ~~•ith said demand oE the Association for a Period of Thirty (3Q) dati~s, shall constitute a breach of this morigage,
and, at thc option of the Association, immediatel~~ mature the entire amount of principal and interest herebv secured, and the
~ :-lssociation, immediately and K•ithout notice, mav institute proccedin~s m fo~eclase this mortgage and apph• f~r the appointment
~if a Recei~•et, as hereinaEter provideci.
f 5. This mottgage contr.?ct provides for addition:~l advancrs ~~•hich may be made at the option oE the association and
secured by this mortgage, and it is agreed that in the event of such ac~vances the a:rwunt may be added to the mortgage debt
and shall increase the unpaid balance of the note hereby secured by the amount uf such advance and shall 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 and contract ~~•ere executecl
~ and deliverecl. An additional advance agreement ma~• be gi~~en and accepted for sach advance and provision ma}' be made for
ciifferent monthiv pa~•ments .nd a different interest rate and other express modifications of the eontr.ict, but in all other respects
zhis rnnir.ict shall remain in fu11 fome and effect as to said indebteciness, includin~ all advances.
6. If anv of the sums of money herein referred to be not promptly and fu1h~ paid ~~•ithin Thirt}' (30) days next after
the same severally rnme due and payable, or if each and every the stipulations, agrcement, conditions, and covenants of said
promissory note and this cleed, or either, are not duly performecl, complied with and abided by, lhe aggregate sum mentioned
in said pmmissory note and anv other amount or amounts added to the mortgage inclebtedness under the terms oE this mortgage
shall become due and pa~•zble forthwith or thereafter at the option of the Assoeiation, as fu11v and completely as if said ag~regatE~
sum of monev was originally stipulated to be paid on such dav, am~thin~ in said promissorv note or herein to the co~tr~rv not-
«~t}utanding. " " " '
~ 7. To deli~~er to the Association, on or before ~t~rch l~th, of each rear, tax receipts evidencing the payment of all la~~--
, fully imposeci taxes for the ~recedin~ calendar vear; to deli~~er to the Association receipts evidencing the payment of all tiens
for public improvements w•ithin ninety (90) days after the same shall t?ecomc due and gayable, and to pay or discharqe within
ninety (90) da~~s after due date, an~~ and all governmental levies that may be ma<le on the mortaaQed propertv, on this mortgage~
~r note, or in an~• other wa~ resulting fmm the mortgage indebtedness seeured b~• this mort~~~e. ~
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