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Home My WebLink About0639 at all times praceably and quiedy to eater upon, hold, occupy and enjoy said la~~d; that said land 'u free from aU encumbrances; that they wil1 make sucb fu~ther assurano~ to pesfeet the fee dmple title to said land in the Association as may re:uonably be required; and that they do hereby fully warrant the title to said land and will defend the same against the lawiu) claims of all persons whomsoever. PROVIDED ALWAYS that if the \iortgagors shall well and truly ~ray m~to the Association~ the indebtedness evidenoed ' by that certain promissory note. of even date hereH?ith, made by the i}ortgagors and payable to the Association, in the principal ~ ~1~~,°i~ 3~iOL'jA~:B.'~~~ *s^!!~?l~±h~_--------------------- 00 00 s300 st?m of - - a^f::!! :.3 ~ ~ • ~ : .~~hich note, together with interest thereon as themin speciFied, is ~ey:ible in month]y installments of interest payments due on_October 9,197$, November 9~1973, December 9, 1973, January 9, 1974, _ . _ _ _ - _ - February 9, l974, March 9,1974, and then TWO HiJNDRED THIRTY SIX AND 54/100 = . - - - ~ : . Dollars (s . 236. 54 - on the.._. 9~ -----day of each month c~mmencing ~vith. _.Aprll. 9:_1974.--------------------------- ----which payments are to be applied, first M interest, and the balance to principal, until said iadebtedness is paid in full, and shaII perform, oamply ~.~ith and abide by each aad every the stiputations, agreements, conditions and covenants of said pr+omitsory note and thLs mortgage, And, including any advances made by the Association to the Mortgagors, or their successors in tidc, for any purpose, j at any time befo~+e the mlease and cancellation of this mortgage, but at no time shaU this mortgage secure advances on account ~ of said original note together ~v~in such aciuit:;,:.a2 ~~:•ar.:rs sn ~~l~sn in eacess af..___THIRTY_ THOUSAND AND ~ NO/100ths-------------------------_--- 30,000.00 # - - - Dollars (Z - pl~u any advances necessary < to protect the security and costs, then t~is deecTan~d tl~e esta~?e~eby cceateil sh~ft-ceas~-and be-m~ii-and voic~.- ~ a AND THE ~iORTGAGORS DO hereby cvvenant and agree: ~ 1. To pay al! and singular the principal and interest and other sums of money pa?rable by virhie of said promissory note :a,~d this mortgage, or either, promptly on the days respectively the same severally rnme dne, ~ 2. To pay all and singular the taxes. assessments, levies, liabilities, obligati6ns and incumbrances of every nature aad kind now on said described property, or that hereafter may be im~, suffered, placed, le~~ied, or lssessed thereon~ or that hereafter may be levied or assessed upon this :~lortgage, or the inde tedness securecl hereby, cach and every, when dus and payable, .,ccorcIing to Ia~v, before they become delinquent, and before any interest attaches or any penalty is incurred; and insofar as any thereof is of record the same shaA be prompdy satisfied and discharged of record and the original official document (such _ :s, for instance, the tax receipt or the satisfaMion paper officially _endorsed or certified) shall be placed in the hands of said ~ Association as ~tortgagee within ten days neat after payment; ~nd~in the event that any ihereof is nai paid, satisfied and discharged, ~ said Assockltion may at any time pa~~ ihe same or any part thereof ~vithout waiving or affecting any option, lien, equitv or right tmder or by virtue of this ~tortgage, and the full amount of each and every such payment shall be immediatety due andpa yable and shall bear interest from the date ihereof until paid at the rate stateci in the note securecl hereb~• and together with such inter- est shall be secured by the lien of this :4fortgage. 3. To keep the buildings and al! equipment aud personal property now or hereafter or~ said premises covered by this mortgage. irisured in a sum equal to at least the amount of the mongage, or an amount iutficient to comply with any co-insunnce require- ment covering the same under the laws of the Statr o[ Florida, rnvering loss from both fire and storm, making the loss under said policies, each and e~•ery, payable to the Association, as mortgagee, as iu interest may appear, and said insurance shall be in a good and responsible insurance company satis[aceory eo said Association, arid written by a responsible local agent satistacWry. to said Asso- ciation: and the policy or policies shall bear a scandard mortgage dause without contribution. and, if the original prinripal amount of the mongage is Fifty Thousand and no/ 100 Dollars (s50,000.00) or in encess thereof, shall be held by the Association, and, in ' che event any sum of money becomes payable under such policr or poticies, the Associauon shall have tht option to receive and apply the same on account of the indebtedness hereby secured, or to ptrmit the mongagoxs to receive and use it, or any parc thereof. for other purposes, without therebr waiving or impairing any equity, lien, or right under and by virtue of thu mortgage, and m3y place and pay [or such insurance, or any part thereof, withouc waiving or a[tecting its option to Eoreclose, or any right hereunder, and the tull amount of each and every such payment shall be immediately due and payable and shall bear ineerest fram the date ~ chereoE until paid at the rate staced in the note secured hereby and together with such interest shall be secured by tfie lien of this ; ~[ortgage. i i ~1. To permit, commit, or suffer no waste, impairment or deterioration of suid propert~•, or any part thereof, and upon the failuro of the mortgagors to keep the huildings on said propert~• in good condition of repair, the Association may demand the t immediate repair oE said bu:ldings or the immediate repayment of the debt hereby sccurecl, and the failure of the modgagors ~ to comply ~vith said demand of the Association for a period of Thirty (30) days, shall rnnstitute s breach of this mortgage, ' and, at the option of the Association, immediately mature the entire amount of principal and interest hereby secured, and ffie ~ :lssociation, immediately and without notiee, may institute proceeclinRs to foreclose this mortgage and apph for the appointment ~ of a Receiver, as hereinafter provided. ; 5. This mortgage contract provides for additional 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 a:nount may be added to the mortgage debt ; an~i 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 and contract w•ere executeci :~nd delivered. An additional advancc agreement may be given and accepted for such advance and provision may be made for clifferent monthly payments ~nd a different interest rate and other espress modifications of the contract, but in all other respects ihis contract shall remain in full force and effect as to said indebteclness, including all advances. : 6. If any of the sums of money herein referred to i~e not promptty and fully paid within Thirty (30) days next after = the same sever.?lly came due and payable, or if each and every ihe stipulations, agreement, conditions, and covenants of said promissory note and this deed, or either, are not duly performed, complied _with and abided by, the aggregate sum mentioned ~ - in said promissory note antl anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage _ shall become due and payabl~ forthwith or ea ter at the aption 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 contrarv not- j ~vit}utanding, y 7. To deliver to the Association, on or before \tarch l~th, of each ye:?r, tax receipts evidencing the payment of all la~s- fully im~ taxes for the preceding calendar year; to deliver to the Association receipts evidencing the payment of all liens = for pub ic improvements w~thin ninety (90) days aker the same shall hecome due and gayable, and to pay or dischazge within ; ninety (90) dat~s after due date, any and all governmental levies that may be made on the mortgaged property, on this mortgage - ~r ~ote, or in any other way resulting from the mortgage indebtedness sectued by this mortgaRe. ~ aoa~ z~s s~s ~ ~ ~u