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Home My WebLink About2200 at all timespeaceably and quietly to entcr upon, hold, occupy and enjoy sa~d ldnd; that said land 'u fre~e fmm all e~cumbrances; that they wiU make such further assurar~oes to perfect tha fee dmPle title to said land ia the Association as may masonably be required; and that they do bereby fiilly wartant the title to said IA~d and will defend the same against the la~vful ciaims af all persons whomsoever, PROVIDED ALWAYS th~t if the rlortgagon shall well and tnily pay unto the Association, the i~debtedness evidenced by that certair? promissory note, of evea date herewitb, made by the Mortgagors anc~ pav~able to the Association, in the principal s~?m oE !~ne_Hunc~r~d__Twenty-Fiv~ Tl~ou.~a~sl_and.No/10.4ths-.-------_---~0111~ (S 12.5, 000. 00 ~vhich note, together with interest thereon as therein sPecified, is pxyable in month]y insral)mencs oE interest payments_ due_on_February .18, _ 19?3,_ March_ 18,_ 1973: __April _18, ___1973. May 18, 1973 and then.ONE. THOUSAND THIRTY-TWOAND 63/100ths--------.-_-.--.-_--_-.--_-.-.---_-_------_------_----_-_- - - - noli3rs (s l, 032,_ 63__.._ on the..---- ~sf~-----day of each month c~mmencing with---,_~11II~__l.$.---1~.~~-_-----------------------------------------------.which paytnentt ;u+e m be aipplied, first to interest, and the balance to prinaipal, until said indebtedness is paid in full, and shall Perform, oo~pfY ~•ith and abide by each aad every the stipulations, agreements, conditions and covenants of said promissory note and this mortgage, And, including any advances made by the Association to the Mortgagors, or their succes~ors in titlr, for any pur~OSe, at any time before the release and caurellation of ihis mortgage, but at no time shaA this mortgage secure advances on account of said original note together with such additional advances in a sum in excess of__ Ong _Hundred. Twent~-Five Thousand and No/100ths--------------------- 2_ 000. 00 - _.Dollars (i.~~_. - plus any advancec necessary - - - to protect the security and costs, then this deed and the estate hereby created shall cease and be nuil and void. AND THE MORTGAGORS DO hereby cvvenant and agree: 1. To pay alt and singular ihe principal and interest and other sums oE money payable by virtue of said promissory note .+nd this mortgage, or eithez, promptly on tfie days respectively the same seveially come due. 2. To pay all ar~d su~gular ihe taaes, ass~ments, levies, liabilities, obligations and incumbrances of every nature and kind now on said described propetty, or that hereafter may be imp~s~1, suffered, placed, levied, or assessed thereon, or that he~+eafter may be levied or assessed upon this bioitgage, or the indebtedness secured heneby, cach and every, when due and ~rayable, acconling m law, before they become delinquent, and before any interest atiaches or any penalty is uicurred; and insofar :u any thereof is of record the same shall be promptly satisfied and discharged of reoo~rd and the original official document (such as, for instance, ihe tax receipt or the ratisfaction paper officiaUy endorsed or certified) shall be placed in the hands of said Association as Mortgagee within ten days ne~ct after payment; and in the event that any there+of is not paid, satisfied and discharged, said Association may at any time pay the same or any gart thereof tivithout waiving or affecting any option, lien, equity or right imder or by virtue of this !1~ortgage, and the full amount of each and every such payment shall be immecliately due andpa yable and shall bear interest from the date thereof until paid at the rate stated in the note securc~ci hereby and togethe.r wit}i sueh inter- est shaU be secured by the lien of ihis Mortgage, 3. To teep the buildings and all equipment and personal property now or herea[ter on aaid premises rnvered by this mortgage. insured in a sum equal to at teast tht amount of the mortgage. or an amount sufficient W mmply with any co-insunnce require- ment covering the same under the laws of the Scate of Florida, oovering loss from both fire and storm. making the loss under said policies, each and every. payable to the Associacion, u mortgagee. u its interest may appear. and said inswance shall be in a gdod and responsible insurance company sacisfaaory co said As~ociation, and writcen by a responsible local agent satisfaceory to said Asso- ciation; and the policy or policies shall bear a standard n~rtgage dause without rnntribution, and, if the original principal amount oE the mortgage is Fifty Thousand and no/100 Dollan (~50,000.00) or in txcras thereof, shall be held by the Aswciation, and, in the event any sum of money becomes payable under such policy or policies, tht Aasociation s6all have the option to receive and apply che same on account oE the indebtedness henbr secured, or to permit the mortgagois to receive and ose it, or any part thereof, for other purposes. without thereby waiving or impairing anr equity, lien, or right under and by virtue of this mortgage, and may place and pay for such insurance, or anr part thereof; without waiving or afEecting its option to [oreclose, or any right hereunder, and the Eup amount ot each and every such payment shall be immediately due and payable and shaH bear interest [rom the date thereo[. until paid at the nte stated in the note secured henby and together with suth interrst s6z11 be secured by the lien of this ~for[gage. 4. To permit, commit, or suffer no waste, impainnent or deterioration of said propert~•, or :~ny part thereof, and upon the failnro of the mortgagors to keep the buildings on said property in good condition of repair, the 4ssociation may demand the immediate repair of said bu;ldings or the immediate relrayment of the debt hereby secured, and the failure of the mortgagors , co comply with said demand of the Association for a period of Thirty (30) days, shail rnnstitute a breach of this mortgage, and, at the option of the Association, immediateiy mature thc entire amovni of principal and interest hereby secured, and the ~ssociation, immediately and withoni notice, may institute proceedin;s to foreclose this mortgage and applv for the appointment af a Receiver, as hereinafter provided. 5. This mortgage contraM provides for additional advances Khich may be made at the option of the association and secured by this mortgage, and it is agreecl that in the event of such advances the amount may be added to the mortgage debt . and shall increase the unjraid balance of the note hereby secured by the amaunt of such advance and shall be a part of said ' note indebtedness under a11 ihe terms of said note and this contraM as fully as if a new such note and contract w~ere executed and delivered. An additional advance agreement may be given and accepted for such advance and provision may be made for ciifferent monthly pa}-ments and a different interest rate and other express modifications of the contract, but in all other respects ihis contract shall remain in ful! force and effect as to said indebtedness, including all advances. 6. If any of the sums of muney herein referred to be not prompdy and fully paid within Thirty (30) days next after the same severaUy come due and payable, or if each and every ihe stipulations~ agreement, conditions, and covenanis of said promissory note and this de~d, or either, aze nM 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 beoome due and payable forthwith or thereaker at the-option of the Association, as fuDy and compleiely as if said agi;regate sum of money was originatly stipulated to be paid on such day, anything in said promissory note or herein to the contrary not- withttar~ding. - 7. To deliver to the Association, on or before Jfarch 15th, of each year, tax receipts evidencing the payment of all laH•- fully im~ taxes for the prereding calendar year; to deliver to the Association receipts evidencing the payment of all liens for pub ' improvements within ninety (90) days after the same shall hecome due and payab[e, and to pay or discharge within ninety (9p) days after due date, any and all govemmental levies that may be made on the mortgaged property, on this mortgage or note, or in any othet way resultinq from the mortgage indebtedness secured by this mortgaRe. ~ g~~K 210 ~;,~t 2198 ~ _ : z , _