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Home My WebLink About0484 at aU times peaceably and quietly to enter upon, hold, occupy and cojoy said lund; that said land is free fcom all encumbrances; that thcy will make such further assurances to perfect the fee dmple title to said land in ihc Associrtion as may reasonably be required; and that they do hereby fully warrant the title to said land and wil! defend the same against ihe IawEul claims of aq persoiu whomsoever. PROYIDED ALWAYS'that iF the I~lortgagors shall weU and truly pay unto the Association, the inclebtedness e~ldenced by thai certajn•pmmissory note, of even date herewith, a~ade by the 1liortgagors and pav~able to the Association, in the principa) sum oE _T~~T_X-QN~._~HQUS~ANA.FIVF._HUNARED_ANU NQ/1Q.Qths---DoU:?rs (s 31, 50Q. 00 ~vhich note, together with interest thereon as therein specified, is pa)able in monthly instailments oi lllteteSt due. OA February _1.5,__ I973,_._March_ 15, ~973, Apx~i~_ ~5, ~97.~, ~Ilay_1.5,_ l 973, Jut~e. 15, 1973, July 15, 1973 and then TWO HUNDRED TWENTY-SEVEN AND 69/100ths-------------- _ _ - - Dollars (i -227..6~ _ on the_ ~5t~1._-----day of each month cwmmencing with-- -,~1t~1,LS~ -1`~.--1.~_7_3--------------_----------------------------which payments are to be .?ppl;ed, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perforny oo~m with and abide by each and ~very the stipulations, agreements, conditions and covenants of said promissory note and modgage, And, including any advances made by the Assoeiation to the Mortgagors, or their successors in tide, far any purpose~ at any time before the release and cancellation of this mortgage, but at no time shall ihis mortgage secure advances on account of said original note together with such additional advances in a sum in excess of__THIRTY~ ONE_THOUSAND , FIVE HUNDRED AND_NO(100ths-_---^ (s31~_500._00___„~, p~us any advances necessary - - to protect the security and costs, lhen this deed and the estate hereby created shall cease and be null and void. AND THE MORI~GAGORS DO hereby cvvenant and agree: 1. To pay all and singular ihe principal and interest and other sums of money payable by virtue of said promissory note and this mortgage, or either, promptly on tfie days rapectively the rame severally come due, ' 2. To pay aIl and s~gular the taues, a~ssme~ts, levies, liabilities, obligations and incumbranc~es of every nature and kind now on said dcxcribed property, or that hereafter may be impos~d, suffered, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon this blortgage, or the indebtedness secured hereby, cach and every, when due and payable, according to law, before they become delinquent, and before any interest attaches nr any penalty is incurred; and insofar au any thereof is of record the same shalt be pcnmptly satisfied and discharged of reoord and the original official document (such ss, for instance. the tax reeeipt os the satisfaction paper officiaUy endorsed or cettified) shall be placed in the hands~of said Association as :~tortgagee withir~ ten days neut after payment; and in the event that any thereof is not Iraid, satisfieci 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 !~tortgage, and the full amount of each and every such payment shall be immediately due andpa yable and shall bear interest fmm the date thereof until paid at the rate stated in the note secured hereb~ and together with such inter- est shall be secured by the lien of this Mortgage. 3. To keep the buildings and all equipment and peisonal propertr now or hereaftet on said premixs rnvered bq this mortgagr. insured in a sum equal to at least the amount o[ the mortgage, or an amount snificient to rnmplr with any to-insutanu rtquire- ment oovering the same under the laws of tht State of Florida, rnvering loss irom both fire and stotm, making the loss undet said policia, each and every, payable w the Associaeion, as mortgagee. aa its interest may appear, and said insurance shaA be in a good and responsible insurance company satisfaaory to said Association, and written by a responaible local agent utisfactory to said Asso- ciation: and the policp or policia shall bear a standard mortgage clause without oontribution. and. iE the original prinapal amount of the mongage is Fiit} Thousand and noJ100 Dollars (j50,000.00) or in excas thereof, shall be held by the Association, and, in the event any sum of moner becomes payable under such policy or policies, the Association shall have the option to teceive and apply the same on account ot the indebtedness hereby secured, or to permit the mortgagots to nceive and use it, or any patt t6eneof. for , other putposes, without thereby waiving or impairing any equity, lien, or right under and by vinue of this mortgage, and map ' place and pay for such insurance, or any pan thereot, without waiving or affecting its option to Eorecloae, or any right hemunder, ' and the full amount of each and every such payment shall be immediately due and payable and shall bear intereat from the date j chereof uneil paid ac the nte staeed in the note secured hereby and together with such interest shall be secuncl by the lien of this ; Mortgage. i ~1. To permit, commit,. or suffer no waste, impairment or deterioration of said proped~•, or any part thereof, and upon ~ the failuro of the morigagors to keep the buildings on said property in good condition of repair, the Auociation may demand the ; immediate repair of said buildings or the immediate repayment of the debt hereby secured, and the failure of the mortgagors i to comply with said demand of the Association for a period of Thirty (30) days, shall rnnstitute a breach of this mort gage, and, at the option of the Association, immediately mature the entire amount of principat and interest herebv securec~, and the ~ Association, immediately and without notice, may institute proceeclin;s to foreclose ihis mortgage and applv for the appointrnent ~ of a Receiver, as hereinaker provide~l. . ~ ~ 5. This mortgage contraei provides for additional advances which may be made at the option of the assoeiation 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 inerease 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 contract as fully as if a new such note :+nd contract w•ere executed ' and delivered. An additional advanc~e agreement may be given and accepted for such advance and provisian may be made for different monthlv payments and a different interest rate and other express modifications of the contract, but in all other respects = ihis contract shall remain in full force and effect as to said indebtedness, including all advances. ! 6. If any of the sums oE moaey herein referred to be not prompdy and fully paid within Thirty {30) days next after the same severally come due and payable, or if each and every the stipulations, ao eement, conditions, and covenants of said ` promissory note and this deed, or either, are not duly performed, rnmplied with and abided by, lhe abgregate sum mentioned S in said promiscory note and any other amount or amounts added to the mortgage indebted~ess under the terms of this morigage s shall bceome due and payable forthwith or thcreafter at the option of the Association, as fully and completely as if said aggregate sum oE money was originally stipulated to be paid on such day, anything in said promissory note or herein to the contrary not- wit}~ctanding. 7. To deliver to the Association, on or before ~iarch 15th, of eaeh year, tax receipts evidencing the payment of all laH•- fulty im~ taxes for the prececling ralendar year; to deliver to the Association receipts evidencing the payment of all liens for pnb 'c improvements within ninety (90) days after the same shall t?ecome due and payable, and to pay or discharge within ninety (90) days after due date, any and all govemmental levies ihat may be made on the mortgaged pmperty, on this mortgage or note, or in any other way msulting from the mortgage indebtedness secured by this mortga~e. € R~f~ i~l! ~i 'f~ ~ € , ~t s , . _ _ ~ ,