HomeMy WebLinkAbout0204 at aU timespeac~bly and quietly to eater upon, bold, occupy and enjoy said la~d; that said land is free from all encumbrances;
thet they will maka such fwther assu~anoea to perfeet tl~e fee dmple titk to said land ia the As.~ociution as may reasonably be
required; and that tbey do bereby ftilty warrant the tltle to said land and will defend the sume against the la~vEu) rluirru of
all persons whomsoever,
PROVIDED ALWAYS th:?t if the Mortgagors shall weU and tnily pay unto the Association. the indebtedness evidenced
by that certain promissory ~ote, of evea date herewith, mtde by the Mortgagors and ~ayable to the Association, in the principal
sum of ,._FIFTEEN,THOLTSAND AND NO IOOths-------.-----.--_---
no~~~~ ~a ~_5, 000, 00?,
~vhich note, together with interest thereon as therein specified, is p.lyable in monthly installments of ONE HiTNDRED .
TWENTY FIVE AND 47/_100ths--_----------------------------------_
- - - - - - - - -Dollars (S - 12.5.-
on the.-,---.-.16th.---day of each month commencing with---- April 16, 1973 ------,---which payments
are to be applied, first to interest, and the balance to principal, unW said indebtedness is p~id ia full, and sLall perform, o~ply
with and abide by each and eeery the stipulations, agreements, conditions and oovenants of said pmmissory note and this
mortgage, Md, including any advances made by the Association to the Mortgagors, or their successors in titiC, for any p~u~poae,
at any time befor~e the release and cancellation of this mortgage, but at ~no time shall this mortgage secure advances on account
of said original note together with such additional advances in a sum in e:cess of__.__ FIFTEEN _Z`HOUSAND AND
NO/100ths-------------------------------_Dollars 15, 000.00 plus any advances n~ry
- (i------
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to pmtect the secwrity and costs, then this deed and the estate hereby created shali cease and be nu1) and void.
AND THE MORTGAGORS DO hereby cuvenant and agree:
1. To pay all and singular the princi'pal and intenrnst and other sums of money payable by virtue of said promissory note
and this mortgage, or either, pmmptly on the days respectively the same severally come dne.
2. To pay all and singWar the tazes, ass~sments, levies, liabilities, obligations and incumbrances of every nature and ldnd
now on said described property, or that hereafier may be impos~ , suffered, placed, levied, or assessed thereon, or that hereaker
may be levied or assessed upon this Mortgage, or the indebtedness secured hereby, cach and every, when due and payable,
3ccord'uig to law, beEore they become delinquent, and before any interest attaches or any penalty is , incumed; and 'uuofar :u
any thereof is of record the rame shall be prompdy satisfied and discharged of reoord and the original official document (such
as, for instance, the. tau receipt or the satisfaction paper officialty endorsed or certified) shatl be plac8rl in the hands af said
Association as Mortgagee within ten days next after paymeni; and in the event that any thereof is not paid, satisfied and discharged,
said Associatian may at any time pay the same or any part thereof ~vitlwut waiveng or affecting any option, lien, equity or right
under or by virtue of this !liortgsge, and the full amount of each and every such payment shall be immecliately due andpa
yable
and shall bear interest from the date ihereof until paid at the rate stated in ihe note serured hereby and togethe.r with such inter-
e; t shaA be secured by the lien of this Mortgage,
3. To keep the buildings and all equipment and pasonal property no~v or hereatter on said premises rnvered by thu mottgage,
iruured in a sum equal to at leasc the amount oi the mortgage. or an amounc suificient to comply with any eo-insutance iequire-
ment mvering the same under the lawa of the State of Florida, rnvering loss [rom both fire and scorm, making the loss under said
policies, each and every, payable to the Associatan, as mongagee, as iu interest may appear, and said inaurance shaU be irt a good
and responsible insuranre company satisfaaory to said Association, and written by a responsible local agent satis[actory to said Asso-
ciation; and the polic~r or policies shall bear a acandard mortgage dause without mntribution, and, iE the original principal amount
of the mortgage is Fi(ty Thousand and no~ 100 Dollan (f
50.000.00) or in excess thereof, shall be held by the Ass~xiation, and, in
the event any sum of money becomes payable under such policy or poticies, the Association shall have the option to receive and applr
che same on amount of t6e indebtedness hereby secured, or to permit the mortgagon to receive and use it, or a~r part theteof, for
other purposes, without thereby waiving or impairing any equity, lien, or right under and by vinne o[ this mortgage. and may
place and pay tor such insurance, or any part thereof, without waiving or a[fecting its option to toredose, or any right hereunder.
and the full amount of each and every such payment ahall be immediately due and papable and shall bear interest from the date
thereoE until paid at the nte stated in the note secured hereby and tvgether with such interest shall be secured by the lien oE this
~iongage.
To permit, commit, or suffer no wasie, impairment or deterioration of said propert~•, or :lny part thereof, and upon ~
the failuro of the mortgagors to keep the buildings on said property in good condition oE repair, the Association may demand the
immediate repair of said buildings or the immediate repayment of the debt hereby svcured, and the failure of the mortgagors :
' to compiy with said demand of fhe Association for a period of Thirty (30) days, shall constitute a breach of this mortgage, ;
' and, at the option of !he Association, immediately mature the entire amount of principal and interest hereby secured, and the
Association, immediately and without notice, may institute proceedin;s to foreclose thu mortgage and applv for the appointment
' of a Receiver, as hereinaker provided. !
i
~ 5. This modgage contraM provides for additional advances which may be made at ihe option of the association and
secured by this mortgage, and it is agreed that in the event of such advunces the amount may be added !o the mortgage debt
and shall iacrease the unpaid 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 contraM as fully as if a new such note :u~d rontraM were executed
and delivered. M additional advance agreement may be given and accepted for such advance and provision may be made for
ciifferent monthly payments and a different interest rate and other express modifications of ihe contract~ but in al) other respects
this contract shall remain in full force and effect as to said indebtedness, including all advances,
6. If any of the sums of money he~in referred to be not promptly and fully paid within Thirty (30) days next after ~
the same severally come due and payable, or if each and every the stipulations, agreement, conditions, and rnvenants of said '
promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned #
in said promissory note and any other amount or amounts added to the mortgage indebtedness under the terms of this mortgage i
shall become due and payable forthwith or thereaker at the option of the Association, as fully and completely as if said aggregate
~na
ney was originally stipu]ated to be paid on such day, anything in said promissory note or herein to the contrary not- ~
~ . t
7. To deliver to the Association, on or before Aiarch 15th, of each year, tax receipts evidencing the payment of all law~-
fully im~ taxes for the preceding calendar year; to deliver to the Association receipts evidencing the payment of all liens ;
for pub ' uaprovemencs within ninety (gp) days aker the same shatl hecome due. and payable, and to pay or discharge within
ninety (90) davs after due date, any and all govemmental levies that may be made on the mortgaged property, on this mortgage
or note, or in any other way resulting from the mortgage indebtedness secured by this mortgage.
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- gG~lc 21~ PAGf 2U4
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