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Home My WebLink About0353 epu°~ ~~1~ d1~1 ~~e~sqh :?t all timcs pracrably and quietiy to enter upon, }wld, ocrupy und ~Y~jo~' ~atd l:?r.d; that a~id land 'u frc~; f~om all rucuu~br.u~cea: thut d~y wil! make such furth~x assuranc~s ~o Pecfect t~e fea ~"~P~ titk to sa'd land in the A-cscc~ation as m~v rcasoiwbly Ix rec~uired; and that they do hereby fWly ~vamant the ritle to said l:uid and ~vill deEend the same ag:unst ths la~~'(u1 rluin?s uf ;;tl persc?~~s ~~•humscever. PROVIDED AL\V~1YS th:d i( tl~e :lorigagors sh:~ll ~vcll and truly ~y unto tl~r :1~ue•iation, tl~ indrbtctiness ~•videactd bv that eertain promissory uotz, of even date herewith, made b~' the \loctgagors ancl navahic: to the Asax•iation, in tht~ princ•i~x~l ~ _ 16 000.00 .um of SIXTEEN A'HOUSAND AND NO/ 100 - - - - - - Iklk?n I S ~ ) . ~chich note. together ~~~tF interest therron as themin specified~ is p:~yable in monthh• installments of THREE HiJNDRED TWENTY-FOUR ANA 43/100-------------------------------------------- . . _ . ooll3rs (s 324.43 ~ - March 15, 19?3 which ments o:~ the- _ 1 J~ day of each month commencing ~vith _ _ - I'aY :ire to be applied, fint to interest, and the balance to principal, until raid indebteciness is paid in fulZ, and shall pezform, comp1~? ..~ith and abide by each and every the stipulations, agmements, conditions and rnvenants of said promissory note and thu mertgage~ And, including any advances made b}' the Association to the ~tortgagors, or their successors in titlr, for any purpose, at anv time before the relesue and cancellatian ~f this mortgage, bu! at no time shall this mortgzge secure advxnces on ac~~ount uf s:iid original note together ~vith such additional aclvances in a sum in e~cess of_.__ SIXTEEN THOUSAND AND N0~100------------------------_-_-------- DoAars (a 6~000. , pl~u anv advances neccssan• - . - _ _ . - - - to protect the security and costs, then this deed and the estate hcrebv createci shail ceasc und be null and ~oi . AND THE ~tORTGACORS DO hereby cuvenant and agree: 1. To pay all and singular the principal and interest and other sums of money pa}•able by virtue of said pa,missory nutc .~ncl this mortgage, or either, promptty on the ciays respectively the same set~erally come due. 2. To pay aU and singular the tares, asseuments, levies,liabilities, obligateons and incumbrances of every nature and'r.ind now on said described property, or that here:ifter may be imposed, suffered, placed, levied, or assessed thereon, or that hereafter may be levied or asse.s.ucl upon this \tortgage, or the indebtedness secured hereby, cach and e~•ery, when due anci payable, :~cconling to la~v, before they become delinquent, and before any interest attaches or anv penalty is incurred; and iruofar as .inv thereof is of record the same ~hall be prompdy satisfied and discharged of record and the ori~ nal official dc~cument (such is, for instance, the tax receipt or the satisfaction paper officially endorseci or certifieci) shall be placed in the hands of said Association as \fortgagee u-ithin ten days next after pa}'ment; and in the event that any thereof is not ~id, satisfied and dischargecl. said Association mxy at any time pay the same or any part thereof ~vithout ~vaiving or affecting any option, lien, equih~ or right iinder or bp virtue of this ~tortgage, and the full amount of each and every such payTnent shall be immecliateiy due and payable and shall bear interesi from the date thereof until paid at the rate statec in the note securecl herebr and to~;ether ~vith such intc*- r~st shall be secured by the •lien of this ~iortgage. 3. To keep the buildings and all equipment and penonal pr~~erty now or henafter on said premixs rnvered by this mortgagq ii~sured in a sum equal to at least the amount ot the mortgage, or an amount sufEicient to ~omply with any co-insurance require- mrnt covenng the same under the laws of the State of Florida, covering loss from both tire and storm, n:aking the loss under said policies, each and e~•ery•, payabie to the Association, as mortgagee, ac iu interest may appear, and said insurance shall be in a~ood and respo~uible insurance company satistactory to said ?lssociation, and writtrn by a respontible local agent satis(actory to uid Asso- c+ation: and the policv or policies shall bear a standard mortgage dause without rnntribution, and, if the oriqina! principal amount I~ of the mongage is Fifcy Tho~uand and no J 100 Dollars (550.000.00) or in excess thereof, shaA bt hdd by the Association, and, in i the eient arry sum of money becomes payable under wch policy or policies, the Associacioce shall hace the option eo receice and apply i the same on acrnunt o[ the indebtednesa hereby secured, or to permit the mortgagon to receive and use it, or any part thereof, for other purposes, wid~out themby wai~•ing or impairing any equity, lien, or right under and by ~irtue of this mongage, and may ! place and pay for such insurance, or any part thereof, without wai~•ing or at[ecting its option to foreciose, or any right hereunder, ~ and the ful! amount o[ each and e~•ery such payment shall be immediately dae and payable and shall bear interest from the date ~ ~hereot until paid at the rate staeed in ehe note secured hemby and together with such iaterest shalt be secured bY the lien oE this ~fortgage. ~f. ?o permit, cammit, or suffer no ~v.ute, impairment or detcrioration of s:,id prupert.-, or uny part thereof, and u~~on the failure of thr mort~agors to keep the buildin~s on said propert~~ in gocKl condition of repair, the Association may demand the immediate repair of saici bu:ldings or the immecliate mlra~nr?ent of the debt hereby secured, and the faiiure of the mortgagors to comph• ~vith said demand of the Assocc~tion for a pericxl of Thirty (30) da}~, shall constitnte a br~eh of this mortgaRe, and, at thc option of the Ascociation, immecliatelv mature the entire amount of principal and interest herebv secured, and the .-~csociation, immediately and ~~•ithout notice, mav irestitate procc~e:lin~s to foreclose this mort~age and appl~~ for the appointment ~~f a Recei~•er, as hereinafter providerl. ~ 5. This mort~age contract provides for addiiion:~l advancY s w~hich may be made at thr option of the association a~d tecured by this mort~age, and it is agreed that in the event of such advances the a:nount may be added to the mortgage debt :~nd shall increase ihe unpaid balance of the note hereby secured by the amount of such advance ar:d 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 ~cere executed :~nd deliverecl. An addit~onal advance agreement ma~• be giren and accepted for sach advance and provision ma~• be made for 4 ~iiffemnt monthh• pa~~ments snd a different interes~ rate and other espress modifications of the eontc:~c., but in all~other respects ~ ~his contr:?ct shall remain in full iorce and effect as to saia indebtedness, including all advances. ; : R 6. If am~ of the sums of money hemin referreci to be not prompth~ a:id full~~ paid .rithin i'hirty (30} days next aFter ~ the same severally rnme due and payable, or il each and every the stipulations, aoreement, conditions, and coveaants of said ~ promissory note and thit dced, or either, are not duly performec?, complied vrith and abided by, the aggxegate sum mentioned ~ in saici promissory note and anv other amount or amounts added to the mortgage indebtedness under ihe terms of this mortgage ~ shall become due :md pa~•sble forthw~th or thereafter at the option of the Association, as fully and completely as if said ag,~regat~ ~ sum of money ~+~as originally stipulated to be paid oa such da~•, am~thing in said promissorv note herein to the contr.irv not- ~ .i~thstanding. • - . . ; To deli~•er to the Associateon, on or before \larch lith, of cach ~-e3r, tax receipts e~ :dencing the payment of all la?.~- ~ (ully imE~usecl taxes for the preceding c.ilendar ~rear; to deli~•cr to the Associatiou recrip:s evidencing the payment of all lie~s ~ for public impro~•ement~ ~rithin ninety (90) days aRer the same shall E~ecome due and payable, and tu pay or discharge within ~ n~nety (90) da}~s after due date, any and all govemment~l levies that rnay be made on the mortg.t~ed prupert~~, on this mort~a~Ge ~ ~r note, or in am• other way msulti~g fmm the rr~ortgage indebteclness secureci ~v this mnrtRaQr. ~ , . ~ 211 ~~~E ~54 ~ ~ t._: _ ~ - - r<~ ~ ~ ~y ~ _F, _ . _ _ . _ _ r _ :