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Home My WebLink About0705 at aU times praceably and quietly to e~ter upon, hold, oc~cupy and cnjoy s:iid lund; that s.1id land 'u f~ee from all encumbrances; that they will make such further assurances to perEoet the fee si~nPle t~He to said land in the Association as may rcasonably be rec~uired; and that they do hereby fully warrant the title to said land and will defend the same :?gainst the lawfu) claims o( aU persons ~vhomsoever, PROVlDED ALWAYS that if the riortgagors shall well and truly pay unto tl?e Association, the indebtedness evidenced by that certain promissory note, of even date herewitb, made by the ~iortgagors and payable to the Assoriation, in the principal S~un of _ SEVENTEEN..TI~pUSAND FQUR -HUNDR,ED ~ND NA/ 100th8--DoU:?rs (S 17, 400. 00 ~rhich note. together K~th interest thereon as themin speciEieci~ is ga~:?ble in monthly installments of ONE HUNDRED. FORTY-FIVE AND.55/lOQths---------------------------------------------.-------- - _ - . - Dollars (s 145. 55 - on the . l~h.. _ day of each month cY~mmencing ~~~th . AuguSt__ 10~__ 19?3____________________________ which payments :ue to be :~pplied, first to interest~ and the balance to principal, until said indebtedness is paid in fuU, and shall perform, eomply ~~~ith and abicle by each and every the stipulations, agreements, conditions nnd covenants of saicl promissory note and this mortgage, And, including any advances made by the Association to the ~tortgagors, or their successors in titlr, for any gurpose, at anv time before the release and rancellation of this mortgage, but at no time shall this mortgage secure advances on account of said original nute together ~vith ~uch additional advances i~ a sum in excess of___SEVENTEEN__THOUSAND FOUR HUNDRED_AND_NO~l00ths------.------_-_--.----Dollars (S 172400,_00.__), p~~ any advances necessary to proteM the security and costs, then this deed and the estate hemby createcl shall cease and be noll and void. AND THE !110RTGAGORS DO hereby cvvenant and agree_ i. To pay all and singular the principal and interest and other sums of money payable by virtue of said promissory note :u~d this mortgage, or either, promptly on the days respeMively the same severally come due, 2. To pay al1 and singular the ta~ces, assessments, levies, liabilities, obligations and incumbrances of every nature and kind no~v on said described property, or that hereafter inay be imposeci, suffered, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon this \tortgage, or the indebtedness secvred hereby, cach and every, Hhen due and payable, according to law, before they become delinquent, and before any interest attaches or an~~ penalty is incurred; and insofar :u :~ny thereof is of record the same sl~all be promptly satisfied and discharged of record and the original official document (surh : s, for instawce, the tax receipt or the satisfaction paper officially endorseci or certified) shall be placed in the hands of said Association as ~tortgagee ~vithin ten days next after pa~~ment; and in the event that any thereof is not paid, satisfied and dischargecl, said Association ma}~ at any time pay the same or any part thereof ~vithout ~vaiving or affecting any option, lien, equih~ or right u!:der or by ~~rtue of this ~Iortguge, and ihe full amoiu?t of each and every such payment shall be immediately due andpa yable and shall bear interest from the date thereof until paid at the rnce stateci in the note secured hereb~• and to~ether ~vith such inter- est shall be secnred by the lien of ihis 111ortgage. 3. 'I'o keep che buildings and ali equipment and personal property now or hereafter on said premises rnvered by this mortgage, I insured in a sum equal to at least the amount of the mongage, or an amount wf(icient to comply with any co-insurance requim- ~ ment co~ering the same under the laws of the Seate of Florida, covering loss [rom both tire and storm, making the loss under said policies, each anci e~•ery, payable to the ~ssociatau, as mortgagee, ac its inten~st may appear, and said insurance shall be in a good ~ and responsible insurance company satisEactory to said Association, and written by a responsible local agent satis[actory to said Asso- ? ciation: and the policy or policies shall bear a sta~iilani mongage dause without contribution, and, iE the original principal amount ; of the mortgage is Fifty Thousand and no/ 100 Dollars (5~.~•~) or in excess thereof, shall be held by the Association, and, in ~ tt~e e~•ent any sum of money becomes pavable uncler such policy or policies, the Association shall have the option to receive and apply ~ the same on account ot the indebtedness hereb~~ secured, or to permit the mongagors to receive and ose it, or any part thereof, for ~ other purposes, without thereby wai~•inR or impairing any equity, lien, or right under and by virtue o[ this mongage, and map ~ place and pay for such insurance, or any part thereof, without wai~~inK or at[ecting iu option to toredose, or any rigfit hereunder, ~ and the [ull amount of each and e~-ery such pa~meut sha11 be immediacely due and payable and shall bear interest trom the date ~ ti~ereof until paid at the rate stated in the noce secured hereby and together with such interest shall be secureei by the lien oE this e ~~oCt~'dgC. ~ To permit, commit, or suffer no ~vaste, impairment or deterioration of s:?id propert~~, or any part thereof, and upon ~ the failure of the mortgagors to keep the buildin,qs on said propert~~ in good condition of repair, the Association may demand the ~ immediatc re~ir of said bu;ldings or the immc~iate repavment of the debt hereb}' securecl, an~l the failure of the mortgagors ~ to complv ~vith said demand of the Association for a period of Thirtv (30) day~s, shall constitute a breach of this mortgage, and, at the option of the Association, immecliatelv m.iture the entire amount oF vrincipal and interest herebv secured, and the .lssociation, immecliately and ~~~ithout notice, may institute proccedinRs tn foreclose this mortgage and appl~~ for the appointment ~ ~Sf a Recei~•er, as hereinafter provided. ~ S. This mortgage contnct provides for additional advancrs ~~•hich may be made at the option of the association and secured by this mortgage, and it is agreed d~at in the event of such advances the amount may be addeci to the mortgage debt ~ and shall increase the unpaid balance of the note hereby secured by the amount of such advance and shall be a part of said note indebteclncss under all the terms of said note and this contract zs fully as if a new such note and contract ~~•ere executecl .~nd ~elit~emcl. An additional advance agreement ma~• Ue given and accepted for such advance and provision ma~• be made for `i cli(ferent monthlv payments wnd a different intcrest rate and other express modifications of the contrac., but in all~other resperts this confract shall.remain in full force and cffect as to said indebtedness, inclucling all advances. 6. If an~~ of the sums of muney herein referred to be not promptly and fullv paid ~~~ithin Thirty (30) days next after the same severally rnme due and paysble, or if cach and every the stipulations, aercement, conditions, and covenants of said promissory note and this deed, or either, are not duly performed, complied with and abidetl by, ihe aggregate sum mentioned in said promissory note and am~ other amount or amounts added to the mortgage indebtedness under the terms of this mortgagc shall become due and pa~~ble forthwith or thereafter at the option of the Association, as fully and completely as if said agnregate ~ sum af money ~vas originalty stipulated to be paid on such dav, am~thing in said promissory note or herein to the contrarv not- .vithstanding. ~ ~ ~ Y+: ~ 7. To deli~•er to the Association, on or before ~iarch la"th, of each }•e3r, tax receipts evidencing the payment of all la~~•- - ~ f~~lly imposecl taxes for the prececling c:?lendar year; to deli~~er to the Association receipts evidencing the payment of all liens for public improvements within ninety (90) days after the same shall become due and payable, and to pay or d'ucharge within '1 ninety (90) da~5 after due date, an~- and all governmental levies that may be made on the morigaged propetty, on this mort~ag~ nr note, or in any other H~ay resalting from th~ mortgage indebteclncss secured bv this mort~agc•. ~s " fi `?-v o~~~r" ~~6 ~r.r,E ~5 ~ _ > - _ _ _ , ~ ~ w . _ _ . - . - _ _ _