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HomeMy WebLinkAbout0047 Cpuo;~ }o ~ _ ~ ,~~,:1 ~~a~~sqd ~ at a11 times praceably and quiedy to enter upon, hold, ocrupy und enjoy said lund; that said lund is free from al) ee~cumbrances; that they wit! make such further assuranc~es to perEect the fea stmple title to said land in the Association as may reasouably bc required; ancl that they do hereby fully waaant the tide to said land and will defend the same against ihe la..~Eul cl~ims oE all persons whomsoever. PROYIDED ALWAYS that if the ~Iortgagors shall well and truly pay unto the Association, the indcbtedness evidenced by that certain promissory note, of even date berewith, made by the titortgagors nnd payabte ta the Association, in the principal `i~~lv 'i'~uUSt~~D FNE ~itTiL'DRED AiVD iL0/ 20Q - - - - - - - - 10, 500. QQ ~ sum of _ _ - _ _ _ . Uoiiars l5 «•hich note, together with interest thereon as therein specified, ~ at the rate speeif~ied. Principal shall be due and payable thirty-six (36) months from date. Interest shall be due and payable monthly until fully paid. - - - - _ _ - - - ~xxx~xx~ ~~f~xx - - - - ~x~c?c-?~x?~-- , until said indebtedneu is paid in fiill, and shall perform, camnp1y with and abide by each and every the stipulations, agreements, conditions and covenants of said romicso note and this mortgage, ~ii~ . , >X x~ -------------------T------------------------------------------------------------x~zxxxx~c~c~cx?~~txi~ic?~ tben this deed and the estate hereby created shall cease and be nult and void. ~ AND THE MORTGACORS DO hereby cvvenant and agree: I. To pay all and singular the principal and inter~st and other sums of money p~ayable by virtue of said promissory note :+ncl this morcgage, or either, promptly on the days respectively the same severally come due. 2. To pay all and singuLu tbe taxes. ass~ssments, levies, liabilities, obligations and incumbrances of every nature and ]dnd now on said described property, or that hereaker may be im~, suffered, placed, levied, or assessed thereon, or that hereaEter may be levied or assessed upon this Mortgage, or the inde tedness secured hereby, each and every, when due and payabie, :~ccording to law, before they become delinquent, and before any interest atiaches or any penalty is incurred; and insofar .u any thereof is of record the same shall be prompily satisfied and discharged of record and the original official document (such as, for instance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Association as 4tortgagee within ten days next afiet payment; and in the event that any thereof is not paid, satisfied and discharged, said Association may nt any tune pay the same or any part thereof without waiving or affecting any option, lien, equity or right under or by virtue of this ~tortgage, and ihe full amount of each and every such payment shall be immecliately due andpa yable :u~d shall bear interest from the date thereoE until paid at the rate stated in ihe note secured hereb~• and together with such inter- est shall be secured by the lien of ihis Mortgage, " ~tq 3. To keep the buildings and all equipment and petsonal propeny now or henatter on said premises covered by this mortgage. insured in a sum equal to at leut the amount of the mongagr. or an amount sutficient to mmply with any co-ipsurance requiur- ment covering the same under the laws of the State of Florida, rnvering loas irom both fire and stwm, making the loss under said policies, each and every, payable to the Associa[ion, as mortgagee, as iu interest may appear, and said insurance shall be in a good and raponsible insurance company satisfactory to said Association, and written by a responsible local agent satis[actory to said Asw- ciation; and the policy or poticia shall bear a standard mortgage dause without mntribution, and. iE the original principal amonnt of the mortgage is Fifty Thousand and no/100 Dollars (;50.000.00) or in extess thereof. shall be held by the Association, and, in ehe event any sum of money becomes payable under such policy or policies, the Association shall have the option to receive and apply che same on account of the indebcedness hereby secured, or to permie the mongagon to receive and use it, or any part thereof, for ocher purposes, without themby waiving or impairing any eqaity, lien, or right under and by vinue ot this mongage, and may place and pay for such insurance, or any pan thereof, without waiving or affecting its option to (oreclose. or any right hereunder, and the full amount oE each and every such payment shall be immediately due and payable and shall bear interat irom the date chereot until paid at the nte stated in the note secured heteby and together with such interat shal! be secured br the lien oE this ~f ortgage. 4. To permit, commit, or sufEer no waste, impairment or deterioration of wid propert}•, or :iny part thereof, and upon the failuro of the mortgagors to keep the buildings on said property en good condition of repair, the ,~ssociation may demand the immediate repair of said bu;ldings or the immediate relrayment of the debt hereby secured, and ihe failure of the mortgagors to rnmpiy with said demand of the Association for a period of Thirty (30) days, shall constitute a breach of this martgage, and, at the option of the Association, immediateiy mature the entire amount of principal and interest hereby secured, and tbe ~ Association, immediately and withoat notice, may institute proceeclin;s to foreclose this mortgage and applv for the appointment of a Receiver, as hereinaker provided. 5. This mortgage contraet provides for addition:~1 advances w~hich may be made at the option of the association and secureci by this mortgage, and it is agreed that in the event of such advances the amount may be added to the modgage debt and shall increase the nnpaid balance of the note hereby secured by the amount of such advance and shall be a part of said note indebtedness under all the terms of said note and this c~ontract as fully as if a new such note znd contract w~ere exeruted ~nd delivered. An additional advance agreement may be given and accepted for such advance and provision may be made for dilferent monthlv paymentt and a different interest rate and other express modifications of the contract, but in all other respects this contrtct shall remain in full force and effect as to said indebtedness, including ail advances. 6. If any of the sums of money herein referred to be not prompdy and fullv paid within Thirty (30) days next after the same sever:illy come due and payable, or if each and every the stipulations, ao eement, conditions, and covenants of said promissory note and this deed, or either, are not duly performed, complied with and abided by, ihe aggregate sum mentioned in said promissory note and any other amount or amounts added to the mortgage indebtedness under the terms of this mortgage shall become due and pa~able forthwith or thcreafter at the option of the Association, as fuDy and rnmpletely as if said aggregate sum of money was originally stipuTated to be paid on such day, anything in sajd promissory note or herein to ihe contrarv not- tvithstanding. . 7. To deliver to the Association, on or before itarch 13th, of each y-e~ar, tax recei~ts evidenciog the payment of a11 laK~- fully im~ ta~ces for the preceding ralendar year; to deliver to the Association receipts evadencing the payment of all liens ~ for pub 'c improvemenis within ninety (90) days after the same shall hecomc due and payable, and to pay or discharge within ~ ninety (90) da~~s after due date, any and all governmental ]evies that may be made on the mortgaged property, on this mortgage or note, or in any other way resiilting from the mortgage indebtedness secured by this mortgaRe. ~ ao~« 210 ~ 47 - ~ . , : ~'~'~~x ~ : ~ , . .