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HomeMy WebLinkAbout2900 :?t aU times peaceably and quietly to enter upon, 1wld, occupy und cnjoy sa~d 1:?~d; that said l:~nd is tces iro~n ull cacumbrxnces; th~t the~ will ii~ak~ stx~t f-,~rther assvrat?ces to perfect the fee simple tide to said land in the Associutrx? as may ce:uoiiably 1~ required; and that thty do hereby fully ~yarra~t the tide t~o said land and ~vill defend the si~aie ag:unst tl?e la~vful clauiu of all perw~u H•twnuoever, PROVIDED AL\YAYS that if the tlt~rtgugors shaU well and truly p•ry unto the As~ociation, the indebtc-cinrss e~~idenced by that certain promissory ~ote, oE even date herewith. made by the \tortgagors und p;?yable to the Asuxiation, in dx~ principal ~?~m of . FORTY.-4NF .THOUSAND ANA NOIl00ths------------------ !bll:~rs (541, 000. 00 ..~hich note, together H~th interest thereon :u therein specified, is ~rayable in monthly installments ot interest payments due on_April_ 12, 19?3, May 12, ~.9?3, June .12, 19?.3 and then T~IREE HUNDR~D THIRTX A111D 30/100ths------------------------------------------------------------------- Dollars (S 330. 30 _ o~i ti~e 12th_ _ day of euh month cummencing with.. .JuXX..~2,---~,_9._?_3__ ----which payme~cs are to be :?pplied, first M interest, and the b3lance to principal, untii said indebtedness is gaid in fuU, and shall peifotm, ~th' «~ith and abide by each and every the stipulations, agreements, conditions and covenants of said promissory noce and u mortgage, And, including any advances made by the Associatiw? to the `lortgagors, or their sucressors in tide. for any purpose, at any time before the release and cancellaNon of thic mo~tgage, but at no time shall this mortgage secwe advanc~es on account _ of raid original note together with such additional advances in a sucn in excess of._FS.?8TY -_QNF~_ THQTI~D AIYl~ NO,(100ths--.-_-_--_--------_-----------------.--.-Dollars =.41,_QO.Q.- , plus any advaix~es necessar,r• - - - ( ) tu protect the sec~vity and costs. then this deed and the estate 1:ereby createcl shall crase and be nul! and void. AND THE AtORTGAGORS DO hereby cvvenant and agree: 1. To pay all and singular the principal and interest and other sums of money pay~able by virtue of raid promissary notc :~nd thu mortgage, or either, promptly on the days respectivety the same severally come due. 2. To pay all and singulat the taxes, ass~sments. levies, liabiGtics, obligations and incumbrances oE every nature and kind no~t on said described prnperty, or that hereafter may be imposed, svffered, placecl, levied~ or assesseci thereon, or that hereafter ma~• be levied or as9essed upon this ~iortgage, or the indebtedness secunYl lier~by, cach and e~•ery, ~+rhen due aod payable, :~ccorciing to la~v, before they beoome delinquent, ancl before any interest attaches or any penalty is incurred; and iiuofar .~s .~ny thereof is of recora the same sliall be promptiy satisfied and discharged of recorrl and the original official doeument {such 1s, for instance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said assoeiation as \fortgagee within ten davs ne~ct after lrayment; and in the event that any thereof is not paid, satisfied and disehargecl, said Associatio~ may at any time pay the same or any part thereof ~vithout waiving or affecting any option, lien, equity or right under or by virtue of :his \fortgage, and the full amount of each and every such payment shall be immediately due andpa yable and shall bear interest from the date thereoE until paid at the rate stated in the note securecl hereb~• aud toRether with such inter- est shall be secureci by the lien of this I~iortgage. ~ 3. To keep the buildings and al! equipment and personal propeny no~v or herraEter on uid pnmises oovered by this mortgage. insured in a sum equal to at lease the amount of the mortgage, or an amount sutficient to comply with any co-insunnce require- ment covering the same under tLe liws o[ the State of Florida, covering loss from both fire and storm, making the loss nnder said policies, each and every, payable to the Association, as mortgagee. as iu interest may appeu, and said insurance shall be in a good and responsiWe iruunnce company satistactory to said llssociztion, and written by a mpontible local agent satisiactory to said Asso- ciation; and the poli~y or policies shall bear a standard mortgage cl~ux without contribution, and, if the original principal amount oE the mortgage is Fitty Thousand and no/ 100 Dollan ~~50.000.00) or in excess chercof. shall be held by the Axwci~tion, and, in che event any sum of money becomes payable under such policy or policies, the Association shall have the option co receive and apply ehe same on acconnt of the indebtedness hereby secured, or to permit the mortgagots to receive and use it, or any part thereof, for other purpoaes, withou[ thereby wai~ing or impairing any c~uity, lien, or right under and by vinue o[ this mortgage, and map place and pay [or such insurance, or any part ehereot, without waicing or af[ecting its option to tomlase, ur any right hereunder. and the full amount oi each and every sach paymenc sh~ll be immcdiaeely due and payable and shall bear intetest irom the date thereoE until paid at the nte stated in the note secured hereby and together with such interest shall be secumi by the lien of this ~tortgage. To permi~, commit, or suffer no ~waste, impairment or deterioration of ~id propert~-, or :iny part thereof, and upon the failure of the mort~agon to keep the buildings on said property in good conditeon of repair, the Associati~n mav demand the immediate repair of said bu:ldings or the immediate relrayment of the debt hereby securc~cl, anJ the failure of the mortgagors to complv ~vith said demand of the Assocuztion for a period of Thirty (30) day~s, sha;l constitute a breach of this mortgage, and, at the option of the Association, immediately mature the entire amount of principal and interest herebv secured, and the .-lssociation, immediately and without notice, may institute pcoc^eclinas to forectose this mort~age and applv for the appointment cf a Recei~•es, :?s hereinafter pmvideci. S. This modgage contract provides for additional advances «-hich may be made at the uption of the association and secured by this mortgage, and it is agreed that in the eveut of such advances the amount may be added to the mortgage debt :+nd shall increase the unpaid balance of the note hereby seciaed by ihe amount of such advance and shall be a part of said r.ote indebtedness under all the terms of said ncte and this contraM as hilly as if a new such note and contract w~ere execute:l :~nd delivered. An additional advance agreement may be given arnl accepted for such advance and provision ma}' be made for ~lifferent mm~thiv pa~•ments ~nd a different interest rste and other express_modifications of the contract, but in all other respects ~his rnntract sha11 remain in full fome and e(fect as to said indebtedness, including all advances. 6. If any of the sums of muney herein referred to be not pmmptly and fullv paid v~~ithin Thirty (30) days r.ext after the same scverally come due and payable, or if each and every the stipulations, agreement, conditions, and cvvenants of sai<I promissory note and this deed, or eit}:er, are not duly performed, comptied with and abided by, the aggr~egate sum mentioned in said promissory note and anv other amount or amounts added to the mo~gage ~ndebtedness under the terms of this mortgage shall be+come due and ~a}~ble forthwith or thereafter at the option of the Association, as fully and completely as if said aggrzgate sum of money ~vas original}y stipulated to be ~raid on such day. an~~thing in said promissory note or herein to t6c contrarv not- ~vithctanding. ~ ~ i. To delir•er to the A~ociation, on or bc;fore ~tarch 13th, oE each }•ear, tax receipis evidencing the payment of at1 IaH-- fu11y imposec1 taxes for the prececling calendar vear, to deliver to the Associatian receipts evidencing the pa}7ne~t of all liens for public improvements withm ninety (90) days after the same shall tx•comc due and payable, and to pay or discharge within ninety (90) davs after due date, any and all governmental levies that may be made on the mort~aged pmperty, on this mortRa~e nr note, or in any other way mstdtin~ from the mortgage indebtedness secured bv this mortgage. eo~K 2~~ ~2$98 . _ _ . . .