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HomeMy WebLinkAbout2941 S ; ~ 1 at all times peaowbly and quietly to eater upoa, hoW, o~cupy and cnjoy said land; that said land is frea from a!! encumbrsuwes: thatthry wID make suc~ f~tha amuanoe~ ~o pafed tLe fee tlmpb titb to said land in the Auociatio~n as may re`sonably be required; aud tl~t th,sy do hereby fWh? warrant tbe title bu said land and wiU defead the sume against the' lawful claims of all persotu whomsoever. • . PROVIDED ALWAYS tbat if the Mortgagon shall well aad truly pay unto the Association. the indebtedness evidenoed ~t ~in promis~ocy note, o~ ~ven dabe ba+ewitl~ made by tbe 1lfortgagors and pawable to the Association, in the Principal ~ ._S~~I_~NTY..~~iQ~J.~AN~.~~112__1!I4/_1Q_Qt~~.-----.---.-----_--.-------nolt~~. 7Q,_OQQ. OQ which iwte, togetber with interest thereon as therein specified, is payable in monthly installmer?ts oE urte~cest _pay~iQr~ts due _o~.~ut~~__~,._~9~.~, . July_ 1.97~.. 4~u~us~_4,-..1973,--S~ptexnber.~, 1.973.,-- 4ctober 4,- 197~, I~1Qxexn~er..4, --1_~73. a~d_th!en_FIV~_ ~iTJ~1A~iEA_EiGHTX-SEYEI.Y._~~1~?..441.1_Q9th~.------_-.-_--..- - _ Dollars (i --~$7.._44_ on che_ 4th------aay of ead, montb com,nencing .~;th-------~~c_e~?eL~._._l.~'Z~________.----------------------------w6ich paymer?ts are to be applied, first to intetest, and the balance to ptincipal, until said inde6tedness is paid in ft~D, aad shall petfotm, oo~gly with and abjde by each and avery the stipulations, ag~reements, conditions and oovenants of said promissory+ note and thu mortg~ge, Md. includinS any advanoa made by tbe Assoclation to the Mortgagors, or their suocessors in titlr, f~ anY P~~ at sny time before t}ie srlea~e and cancellabw? of th~s moitga8e, but at no time shall this mortgage secure advances on account ~ of said original ~te together with such additia?al advances ia a swn in exoess of_.~EYFI~ITY_TIiQ_ Q___._ ! NO 100ths---------------------_--- 70 000. 00 ~ -------------'flollars (i-------j-----------------), plus any advances necessary to protect the security and coats, tben tbis deed and the estate hereby created shatl cease and be null and void. AND THE MORT'GAGORS DO hereby c+~veaant and agree: 1. To p~y all aud singnlar tbe princr~al and 'mtese,tit and otber sums of money payable by virtue of said promicsory note ~ and this moitgage, or eitl~er, promptly on the days respectively t6e saa~e se.weralty come due. 2. To psy all and singulu the tazes, as~ssments, le~?ies.liabilities, obligations aad incumbrances of every nature and loind now ~ said deacribed p~ty, or that hereaker may be~, suffCred, placed, levied, or aaessed thereon, ar tbat hereafter may be levied or assessed upon thit Mortgage, or tbe cdne,ss sec+ued hereby, cach and every, when dne and payabie, amarduig to ~w, befone they beoome delinquent, and before any intemst attaches or anypena1ty is incurred; and insofar as ~ ~y ~f same s}~all be pr~nptlY satisfied and discharged of reaord and the original official document lsuch as, for instance, tbe tax receipt or the satisfaction paper officially encloised or c~ertified) shall be placed in the hands af said Assoriatiau as !4fortgagee 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 ri~t under or by virtue of this ?liortgage, and the fuIl amount of each and every sucli payment shall be immediately due andpa ya le and shall bear interest from the date thereoE until paid at the rate stated in the note secvred hereby and together with such inter- est shall be secvred by the lien of this Mortgage. 3. To ktep the buiidings and all equipment and pe~wnal proper[r tww or hereaEter on said premiss aovered by this mortgage. insured in a sum equal to at lnu the amount of the wortgage. or an amount snfficient to comply with any co-i~urance :equin' ment cuvering the same under the laws oE the State of Fbrida. oovering loss [rom both tire and scorm. uuking the loa under said poUcia. each and every. payable to the Associatan. u morcgagee. as its interest mar appear. and said insunnce shall be in a good and raponsible insunnce company saeistactory eo said As~ociation, and written bY a respwisibk bcal agenc satis[acwry to said A~o~ ciation: and the policr or policies shall bar a standard mongage clause w4thout wntritwtion. and. if the original prinapal amount of the mottgage is Fiitr 'I'housand and no/ 100 Dollan (~0.000.00) or in exca~ thereof, shall be held by the Association, and, ire ehe eveat anr :um of monep becoma parable under auch policy or poliaes, the Assoriation shall bave ehe option to reoeive and apply the same on accaunt of the indebtodnr~ hrrcby secured, or to permit the mor[gagors w reaeive and use it, or any part thereof, f~ other purpo~cs, Mrithout thercb~+ waiving or impairing any equitr, lien, or rig6t under and by virtue ot this mortgage, and may place and par for such inwrance, or anr part ehereof. ~vithout waiving or aifecting its option to forecbse, or any right hereunder, and the [ull amoune of each and every such payment shall bt immediaeely due and payable and shall bear interest fmm the date ehenof unti! paid at the nte :taeed in tbe note secured hereb~r and together wi[h such interat shall be secured by the lien of this Mongage. 4. To permit, crnnrr~it, ar suffer no waste, irnpainnent or deterioration of said propert~, or any part thereof, and upon the failuro of the irwrtgagors to keep the buildings on said property in good condition of repair, the Association may demand the ;mmediate repais oE said building4 or the immediate repayment of the debt hereby secur~ed, and the failure of the mortgagors I~i to comply with said demand of the As.wciation for a period of Thirty (30) days, shall constitute a breach of this mortgage, and, at ihe option of the Association, immediate)y mature the entire amount of principal and interest hereby secured, and the ~ Association, immediately and without notice, may institute proceedin;s to foreclose this mortgage and applv for the appoinhnent of a Receiver, as bereinafter provide~i. ~ 5. '1'his martgage contraM provides for additional advances which may be made at the option of the association and secured by this mortgage, and it is agreed that in the event of such advances the amount may be added to the modgage debt and shall inerease the unPaid balance oF the note hereby secured by the amount of svch advance and shall be a part of said ~ note indebtedness under all the terms of said note and this oontract as fiilly as if a new such note and contract were executed ! and delivered. M additional advance agreement may be given and aocepte~ for such advance and provision may be made for . different monthly payments and a different interest rate and ather express modifications of ihe rnntract, bnt in all other respects this contract shall remain in ful) force and effeet as to said indebtedness, including aq advances. 8. If any of the sums of maney herein ~+eferred to be not prompdy and fully paid within Tlurty (30) days next after ihe same severally come due and payable, or if each and every the stipulations, agreement, conditions, and covenants of said promiss~ry note and this deed, or either, aze nd dtily peiformed~ complied with and abided by, the aggFegate sum mentioned in said promissory note and any other amount or amount"s added to the morigage indebtedness under the terms of this mortgage ahall beaome due and payable forthwitb oc thereaher at the ogtian of the Association, as fuUy and completely as if said aggregate sum of money was originally stipulate~ to be paid on such day, anything in said promissory note or. herein to the contrary not- wit}~danding. 7. To deliver to the Association, on or before ~iarch 15th, of each yrar, tax receipts evidencing the payment of all Iaw•• fully imposed taxes for the prececling calenclar year; to deliver to the Associatian receipts evidencing t}~e payment of aU liens ; for puWic imProvements within nir~ety (90) da~ after the same shaU boQOme due and payable, and to pay ar discharge within ~ ninety (90) davs after due datt, any and all governmental kvies that may be made on tbe martgaged property, on this mortgage or note, or in any other way resultinq from the mortgage indebtedness secured by this mortgaRe. ` ° R 213 ~~2937 ~ d00x ; l. T~ F ~ - ?.G.-r' Y . ~ k ~`~''~Y!a3~+_5...'.~ . .