The URL can be used to link to this page

Home My WebLink About2429 r ; 1 ~ at aU times peaceably and quiedy to eater upon, hold, ocrupy and cnjoy sa~d lund; that said I:u~d 'u iree from all encumbranc~s; that they will maka such futther assuraYwes ~o perEect the fee dmP~@ title to said land in the Associution as may reasonably be recluired; and that tbey do hereby fully wa~rant the tide to said land and ~vill defend the s~me against the Iawful claims oE all persons ~+homscever. , PROVIDED AL~VAIS that if the ittortgagors shall well and truly pa}• unto the ~ssociation, the indebtedness evidenced . by that certain promissory r?ote~ of even date herewith, made by the ~lortgagors and paya6le to the Assaciation, in the principal ,~?m of _.NIlIIETEEN..TI34USAND_ SEyEN Hj7NARED ANU N4I lOQths-- Doll:~n (319~.700. 00 .~•hich note, together with interest thereon as therein specifiecl, is pay:ible in monthly installments of ONE HUNDRED ~ NINETY NINE AND 82/100ths----------------------------•-------------------- i - - - - _ - - - - - - - - - t , - . - Dollars (s 199. 82 - - - - ~n the. .._5~_ y g December 5,1973 w~b e„c~ ` --..da of each month commencin ~vith . . P~Ym ~ are to be applied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perfoim. oom y ~ .+•ith and abide by each and every the stipulations, agreements, conditions and covenants oE said pnomissory note and is _ mortgage, Md, including any advances made by the Association to the Modgagors, or their successors in titlr, for any purpoQe, ~ at anv ticne before the release and cancellation of this mortgage, but at no time shall this mortgage secure advances on account ~ of said original note together ~vith such additional advances in a sum in excess of____NINETEEN_THOUSAND r 'Dollus (a.. 19, ?00. 00--), pl~ ~y advances necessan ~ .__SEVEN.HUNDRED__AND_NO/100ths---_-,--- . to protect the security and costs, then this deed and ihe estate hereby createci shall cease and be null and void. AND THE riORTGAGORS DO hereby cvvenant and agree; 1. To pay all and singular the principa1 and interest and other sums of money jrayabk by viriue of said promissory note s .~nd this mortgage. or either, prompt[y on the days respactfvely !he same severally come due. ~ 2. To pay all and singular the taaes, astesscnents, levies, tiabilities, obligaHons and incumbrances of every nature and ldnd ~ now on said described property, or that hereafter may be imposed, suffered, placed, levied, or assessed thereon, or that hereafter may be tevied or assessed npon this 11lodgage, or the indebtedness securecl hereby, cach and every, when due and payable, ~ according to law, before they become delinquent, and before any interest attaches or any peaalty is incumed• and iruofar as ~ ,~ny thereof is of record the same s1~a11 be prompdy satisfiect and discharged of record and the original official document (such ~ ~s, for instance, the taa receipt or the satisfaction paper officially endorsed or certified) shal! be placed in the hands of said ; Association as ~fortgagee wit}un ten days next after Irayment; and in the event that any thereof is not paid, satisfied and discharged, i said Association may at any time pay the same or any part thereof ~vithout waiving or affecting any option, lien, equitv or right ; under or by virtue of this \iortgage, and the full amount oE each ar~d every sueh payment shall be immediately due andpa yable .u?d shall bear interest from the c~ate thereof nntil paid at the rate stated in the note securecl hereb~• :u~d toZ;ether with such inter- est shall be secured by the lien of this Mortgage, ~ 3. To keep the buildings and all equipment and petsonal property now or heteaEter on said premisa covered by this mortgage. insured in a sum equal to at least the amount ot the mongage, or an amount su[[icient to comply with any co-inauranct tequire- ment covering the same under the laws oE che State of Florida, rn~ering loss Irom both fire and storm, making tht loss under said policies, each and every, payable to the Association, as mortgagee, as its ineerest may appear. and said insunnce shall be in a good . and responsible insurana company satis[actory to said Association, and written by a rasponsible local agent satisfactory to said Asso- : ciation: and the policy or policies shall bear a standatd mortgage clause without mntribution, and. if the original prindpal amount ~ of the mortgage is Fifty Thousand and no j 100 lloita~s (5~.~•OU) br ira excess therrof, shall b~ held by the Association, and, in ~ ehe e~ent any sum of money becomes payable under such policy or policies, the Auociation shaU have the option to receive and apply ~I~e same on account of che indebcedness henby secured, or eo permit the mortqagon to receive and use it, or any part then+oE. for ; other purpoaes, without thereby wai~•ing or impairing any equity, lien, or right under and by a•ircue of thu mortgage, and may : place and pay for such insurante, or any part thereof, without wai~•ing or aftecting ita option to foredoae, or any right hettunder, ' and the full amount of each and every such payment shall be immediaeely due and payable and shall bear interest irom the date ; chereof until paid at the rate scated in [he note secured hereby and together with such interest shaIl be secured by the lien of this i ~fortgage. E 4. 7'o permit, commit, or suffer no waste, impairment or deterioration of said propert~•, or any part ihereof, and upon ` tl~e failuro of the mortgagors to keep the buildings on said property in good condition of repair, the Association may demand the ` immediate repair of said bu:tdings or the immediate repayment of the debt hereby securecl, and the failure of the mortgagors ~ to complv ~vith said demand of ihe Association for a period of Thirty (30) day~s, shall constitute a breach of this mortgage, ` and, at thc option of the Association, immediately mature the entire amount of principal and interest hereby secwed, and the ~ .~ssociation, immerliately and without notice, may institute proceedin;s to foreclose this mortgage and applv for the appointment ~f a Receiver, as hereinafter providecl. i = 5. This mortgage contract provides for additionat 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 an~ shall increase the unpaid balance of the note hereby secured by the amount of such advance and shaIl be a part of said note indeUtedness under all the terms of said note and this contract as fully as if a new such note ar?d contract u~ere executed and delivered. An additional advance agreement may be given and accepted for such advance and provision may be made for different monthly pa}'~nents ~nci a different interest rate and other express modifications of the contraet, but in all other respects ; ihis contract shall remain in full force and effect as to said indebteclness, including all advances. F 6. If any of the sums of muney herein referred to be not promptly and fully paid ~9thin Thirty (30) days next after the same severilly come due and payable, or if each and every the stipulations, agrcement, conditions, and covenants of said prumissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned s in said promissory note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage shal~ become due and pavable forthwith ar thereafter at the option of the Association, as fully and completely as if said aggregate + sum of money was originally stipulated to be paid on such day, anything in said promissory note or herein to the contrarv not- ~vithstanding. r 7. To deliver to the Association, on or before ~tarch l~th, of each year, tax receipis evidencing the paymer~t of all laH•- h~lly im~ taxes for t6e preceding calendar year, to deliver to ihe Association receipts evidencing the payment of all liens for pub ic improvements N7t}tlit ninety (90) days after the same shall hccome due and payable, and to pay or discharge within ninety (90) da~~s after due date, any and all govemmental levies that may be made on the mortgaged'En-operty-, on this mortgage ~ nr note, or in any other way resulting fmm the mortgage indebtedness securecl bv this mortgage. ~ - _ 80~K FACf 24~5 ~ _