Loading...
HomeMy WebLinkAbout2301 at all times pracrably and quiedy to eater upon, lwld, occupy and cnjoy sa~d land; that s.1id land is Iree from aA encumbrances; that they will make suchdo~hhereb~fiil~wariant~t ~ title fM saidPlandt~And .vill def nd theesam~eag~ utathe l~wfu clabims of required; and that they Y Y all persons ~vhomsoever. : PROVIDED ALWAYS that if the rfortgagurs shall well und truly pay unto the Association, the indebtedness evidenced ' by that certain promissory note, of even date herewith~ made by the ~Iorigagors und payable to the Associatio~, in the principal tum of _ TW~NTY-"~~R~F-~ T~~USANA_.~'OU~ HUN1?RED AND NO/ 100 Doltars (S 2.3, 400, 00 ~vhich note, tngether ~vith interest thereon as therein specified, is p:?yable in monthly installments oE 4NE HLNDRED . EIGHTY AND_61/~9Qths--------.--------------------_----_----------_--------------- _ . _ - _ Dollars (s 180. 6~ - . ; on the 2rid. day of.e~ach month commencing ~~tith .AIIgL1St.2._._l9'I~-.--_----------------------------------------------which ents ; ..ith and ~lbidedby e ch and every theesti~ulations, a~ments,t~condit nseundncovena~nts of sa d p missory n te~and thic mortgage, Md~ iacluding any advanceS made by the Assoc~ation to the ~ioKgagors, or theu succe~o~rs in bUc, for any purpose, ; at anv time before the mlease and rancellation of this mortgage, but at no time shall this mortgage secure advanoes on uccount ; • ? of said original note together ~vith such additional advances in a sum in excess of_.____T_YYENTY_-THREF~TIiflIISAND ~ EfJIIS,_HiINDREA_AND_NQ11QQths-----_-_-_---- Dollars (s 23,_4QQ~_O.Q__.), plus any advances necessary to protect the security and costs, then this deed and the esiate hereby createcl shall cease and be null and void. AND THE 1110RTGAGORS DO hereby c~venant and agree: ~ ; 1. To pay all and singular the principal and interest and other sums of money payable by virtue of said promissory note ; .~nd this mortgage, or either, promptly on the days respectively thc same severally come due. ~ 2. To pay all and singular the ta~es, assessinents, levies, liabilities, obligations and incumbrances of every nature and ldnd ~ no~v on said described property, or that hereafter may be imposed, sufEered, placed, levied, or assessecl thereon. or that hereafter ~ may be levied or assessed upon this ~fortgage, or the indebtedness secured hereby, cach and e~~ery~ when due and pa~able, ~ ;~ccording to la~v, before they bec.~ome delinquent, and before any interest attaches or anv penalty is incurred; and insofar au z .~ny thereof is of record ihe same shall be promptl~ satisfied and dischargecl of record and the original official document (such ? 1s, for instance, the ta~c receipt or the satisfaetion paper officially endorsed or.cedified) shall be placed in the hands of said { Association as \tortgagee ~vithin ten days next after pa}~nent; and in the event that any thereof is not paid, satisfied and discharged, said Association may at anv time pay the same or any part thereof ~vithout ~vaiving or affecting any option, lien, equity or right «nder or by ~~rtue of this ~tortgage, and the full amount of each and cvery such payment shall be immecliately due andpa yable and shall bear interest from the date thereof until paid at the rate stated in the note secured hereb~• :uid together ~~~ith such inter- est shall be secured by the lien of this l~iortgage. ~ 3. To keep the buildings and all equipment and personal property now or hereafter on said premixs covered by this mortgage. ~ insured in a sum equal to at least the amount of the mongage. or an amount sut[icient to comply with any co-insurance require- ment co~~ering the same under the laws oE the State of Florida, rn~ering loss from both [ire and stortn. making the loss under said policies, each and every, payable to the Acsociateon, as mortgagee, as iu incerest may appear, and said insurance shall be in a good and responsible insurance company satisfactory to said Association, and written by a responsible local agent satis[actory to said Asso- ciateon; and the policy or policies shall beat a standard mongage clause without contribution. and, i[ the original principal amount ; o[ the mortgage is Fifty Thousand and no f 100 Dollars (i50,000.00) or in excess thereoE, shaU be held by the Association, and, in ~ I ~he e~•ent an~ sum of money becomes payable under such policy or policies, the Association shall have the opcion to receive and apply - j the same on account of the indebtedness hereby secured, or eo permit ehe mortgagors to receive and use it, or any pan thereof. for 3 E other purposes. without thereby waicing or impairing any equity, lien, or right under and by virtue of this mortgage. and may ~ lace and a[or such i~uurance, or an art themof, without wai~•in or at(ectin its o tion to toreclose, or an ri ht hereunder. E i P PY YP K S P Y g } g and the Eull amount of each and erer} such pavmene shall be immediately due and payable and shall bear interest from the date ehereoE untii paid at the rate stated in the note secured hereby and eogether with such incerest shall be secured by the lien of this ~ ~fortgage. 4. To permit, commit, or suffer no waste, impairment or deterioration of ~id propert~-, or :iny part thereof, and up~n ~ the failuro of the mortgagors to kecp the biiildings on said pmpert~• in good condition of repair, the Association may demand the immediate re~ir of said bu:ldings or the immediate repayment of the debt hereby secured, ancl the failure of the mortgagors = to comply ~vith said demand of the Association for a period of Thirty (30) da~~s, shall constitute a breach of this mort~age, and, at the option of the Association, immediately mature the entire amoun. of principa) and interest hereby secured, and the .~su~ciation, immediately and ~vithout notice, mav institute proceedin;s tn foreciose this mortgage and app1~• for the appointment ~ of a Recei~'er, as hereinafter pm~ided. ~ This mortgage contract pmvides for adclitional advances ~~•hich 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 mortgage debt j ~ and shall increase the unpaid balance of the note hereby secured by the amount of such advance and sh111 be a part of said note indebtedness under all the terms of said note and this contract as fully as iE a new such note and contract ~~-ere executecl ~ .~nd delivered. An additional advance agreement mav be given and accepted for such advance and pmvision may~ be made for ciifferent monthb pa~•ments 4nd a different interest rate and other e?cpress modifieations of the eontraet, but in aIl other respecGs ihis contr:ict shall remain in full force and effect as to said indcbtedness, including all advances. ' 6. If anv of the sums oE muney herein referred to be not promptly ancl full~~ paid ~~•ithin Thirty (30) days next after ~ the same severally rnme due and payable, or if each and e~ery the stipulations, agreement, conditions, and covenants of said 'i romisso note and this deed, or either are not dul rformecl, com hed ~~~ith and abided b the a ate sum menHoned P ry • Y Pe P Y• in said promissory note and anv other amount or amounts added to the mortgage indebtedness under thegte~rms of this mortgagc . shati become ciue anci pa~~sbie [ortnwitn or inemaiier at tne opiion oi ine nssc~ciuiion, d5 IULy 41W ILIII~JlCICIy iiJ l~ ~aiu u~;~~aic ~ sum of money was originally stipulated to be paid on such dav, anvthing in said promissory note or herein to the contrarv not- ~a «~thstanding. r To deliver to the Association, on or before Ziarch 15th, of each ~•ear, tax receipts evidencing the payment of all la~~•- ~ f~illy imposed taxes for the prececling r.ilendar ~ear; to deliver to the Association receipts evidencing the payment of all liens for public improvements within ninety (90) days after the same shall Fx.~come due and payable, and to pay or discharge ~~~thin ninety (90) da~~s after due date, an}' and all govemmental levies that may be made on the mortga~ed propertti•, on this mortgage a~= ~r note, or in an~• other way msultin~ from the mortgage indebtedncss secured bv this mort~;a~e. ~ 8~~~5 ~~,'9~i ~ 4: _ v~~ ~ _ ~ ~ . - ~ _ $ ~ t ~ ~ . .