HomeMy WebLinkAbout0268 at all times peaceably and quiedy to eater upon, hold, occupy and enjoy suid land; that said land is free from aU encumtu~nces;
that they will make such futther assurai?oes to perfeat the fee dmpte titk to said land in the Association as may reasonably be
rc~uired; and that they do hereby fully warrant die title to aaid lund and will deEend the same against the lawful clairns of
all persons whomscever,
PROVIDED AL~VAYS that if the l~ioctgagors shaU weU and truly pay unto the Association, the indebtedness evidenoed
by that certain pmmissory note. of even date herewitb, made by the Mortgagors and payable to the Association, in the principal
sum of ,..THIRTY THOUSAND AND NO/100------------------------ Dollars (Z 3~~ 000.00
.vhich note, together with interest thereon as therein specified, is payable in monthly i~stalime~ts of ~terest payments
due on May 11,19?3, June 11,1973, July 11,1973, August 11,1973, September 11, 1973 .
October il 1973 and. then. TWO_HUNDRED SIXTEEN_AND_ 85/100-_---_--_-_------------- J
- - - .
- . r
- - Dollars (s_ 216,. 85 . ~
on the--,--- -I lth------day of each month commencing with-----.- --NOVembel'__11,_1973------------------ which payments .
:ue to be applied, first to interest. and the balanc~ to principal, until said indebtedness is paid 'm fiill, and shall perfotm, oomply
with and abide by each and every ihe 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 successors in tidr, for any p~rpose,
at any tia?e before the retease and cancellation of this morigage, but ai no time shall ihis mortgage secure advances on account
of said original note together with such additional advances in a sum in eacess of_.____ THIRTY__T__HOUSAND AND
NO/100-------------------------------- 30 000.00
-.Dollars plus any advances necessary
ta protect the security and cnsts, then this deed and the estate hereby created shall cease and be null and void.
AND THE MORI~GAGORS DO hereby cuvenan: and agree:
1. To pay all and singular the principal and intermst and other sums of money prayable by virtue of said-promissory notti
:?nd this morigage, or either, promptly on the days respectively the same severally come due.
2. To pay alI and singular the taxes, assessmentr, le,wies, liabilities, obligations and incumbrances of every nature and Idnd
now on said described prnperty, or that hereafter may be un~, suffered, placed, levied, or assessed thereon, or that hereafier
may be levied or assessed upon this Ma~tgage, or the inde tedness secwed hereby, cach and every, when due and payable,
uccording to law, before they become delinquent, and before any interest attaches nr any penalty is incurred; and insofar as
any thereof is of record the same shall be pmmptly satisfied and discharged of record and the original official document (such
ss, for instance, ihe ta~c receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said
Association as ~iortgagee within ten days next after payment; and in the event that any thereof is not paid, satisfied and discharged,
said Association may at any time pay the_ same or any .part thereof without waiving or affecting any option, lien, equity or right
under or by virtue of this ?lfortgage, and the full amount of each and every such payment shall be immediately due andpa
yable
and shall bear interest from the date thereof until paid at the rate stated in the note secured hereb~• and together with such inter- '
est shall be secureci by the lien of this Mortgage.
3. To keep the buildings and all equipment and peisonal propetty now or hereafter on said premises ooverod by this mortgage,
insuted in a sum equal to at least the amount of t6e mongage. or an amount su[ticient to rnmplr rvith any co-inaurance tr~uut-
ment covering the same under the laws of the State oE Florida, covering laas from both fire and storm. making tht loss under said
policies, each and every, payable to the Association, as mortgagee. as iu interest mar appear. and said insunnce shall be in a good
and responsible insurance company sacisfactory to said Assa~ciation. and written by a responsibk local agent satisfactory to said Asso-
ciation; and the polic~r or policies shall bear a standard mortgage clause without conu+bution. and. if the original principal amount
of the mortgage is Fifty fhousand and no/ 100 Dollan (~50,000.00) or in excess thereof. shall be held by the Associadon, and, in ~
che event any sum oE money becomes payable under such policy or policies, the Association shall have the option to receive and apply
che same on account oE the indebtedness henby secured, or to permit the mongago~s to receive and use it, or any put thereof, Eor f
other purposes, without thereby waiving or impairing any equity, lien, or right under and br virtue ot this mongage, and may
place and pay Eor such insurance, or any pan thereof, without wai~•ing or a[fecting its option to foredose, or any right hereunder. ~
and the full amount of each and every such payment shall be immediately due and payable and shall bear interest [rom the date
chereof until paid at the rate stated in the note secured hereby and together with such interest shall be secured br the lien oE t6is #
1`lQr~~~ . ~
4. To permit, commit, or suffer no waste, impairment or deterioration of s3id propertp, or any part thereof, and vpon ~
the failuro of the mortgagors to keep the buildings on said property in good condition of repair, the Association may demand ihe
immediate repair of said bu;ldings or the immediate repayment of the debt hereby secured, anJ the failure of the mortgagors ~
to .com ly ~vith said demand of the Association for a nod of T ~
p pe ' hirty (30) days, shall constitute a breach of this mortgage, }
and, at thc option of the Association, immediately mature the entire amount of principal and interest hereby secured, and the
Association, immediately and without nofice, may institute pnnceedin;s to foreclose this mortgage and applv for the appointment ~
of a Receiver, as hereinaker provided.
5. This mortgage contract provides for additional advances which may be made at ihe option of the assoeiation and i
secured by this mortgage, and it is agteed that in the event of such advances the amount may be added to the mortgage debt -
and shall increase the uniraid balance of the note hereby secured by the amount of such advance and shall be a part of said
note indebtedness undet all the terms of said note and this contract as fully as if a new sach note and contract w•ere eaecuted
and delivered. An additional advance agreement may be given and accepted for such advance and provision may be made for f
clifferent monthly payments znd a different interest rate and other express modifications of the contract, but in all other respects
this contract shall remain in full force and effect as to said indebtedness, including ali advances. '
6. If any of the sums of money herein referred to be not promptly and fully paid within Thirty (30) days next after
the same severally come due and payabte, or if each and every the stipulations, ao
eement, conditions, and coveriants af saicl
promissory note and this c~eed, 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 tetms of this mortgage
shall become due and payable forthwith or thcreafter at the option of the Association, as fully and completely as if said aggregate
sum of money was originally stipulated to be paid on such day, anything in said promissory note or herein to the c~trarv not-
wit}utanding.
7. To deliver to the Association, on or before :~tarch 15th, of each year, tax receipts evidencing the payment of all 1aw•-
fully imposed taxes for ihe prececling calendar year; to deliver to the Association receipts evidencing the gayment of all liens ~
for public improvements within ninety (90) days after the same shaD t?ecome due and payable, and to pay or discharge within
ninety (90) days after due date, any and all govemmental levies that may be made on the mortgaged property, on this mortgafie
~t note, or in any other way rnsulting fmm the mortgage indebtedness secured by this mortgage.
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U ~ 2~3 PA~E 268 ~
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