HomeMy WebLinkAbout2759 at all timespeaceably and quietly to enter upon, hold, occupy a~d enjoy sud land; that said land 'u Eree from all encumbrances:
that they will make su.~ futdie= essurances tio perkct the fee dcnole tiQa to said land ia the Associatan as may reasonably be
required; and that they do hercby fully warrant the title t» saicl land and will defend the same against the lawful claims of
ait perso~u whomsoever.
PROVtDED ALtiVAYS thut if the 1lfortgagors shall well and truly pay unto thc Association, the indebtedness evidenoed
by that eertain pmmissory noM, of even date herewith, msdn by the Mortgagors and pa~able to the Associatian, in the principal
sum of _.TWENTY_ TWO THOUSAND AND NO/100ths---------------- poll:~rs ~s 22, 000. 00
which note, together with interest thereon as therein specified„ is payable i~ monthly installments of interest payments
_:__due_ on December 9,1973, _ January 9, 1974, February 9,1974, March 9,19?4, April S,
1974, _May 9,19?4 and then ONE HUNDRED EIGHTY FOUR~ AND 63/100ths----------
- . Doliars (s _ 184,_63_ -
on the-- -~i?------ ._.._.day of each month commencing ~vith-- -JUIIe _ 9,_2 974--------------------------- ----------------whieh p~yymenrs
ue to be applied, first to interest, and the balance to principal, until said iadebtedness is paid in fiil1, and sball peiform, oo~mp1y
~vith and abide by each and every the stipulations, agreements, conditions and covenants of said pramissory note and this
mortgage, And, including any advances made by the Association to the Modgagors, or their succes.wrs in tida, for any putpose,
at any time before the release and cancellation of this mortgage, but at no time shali this mortgage secure advanc~es on accouni
of said original note together ~vith such additional advances in a sum in e.ccess of____T__wENTY TWO THOUSAND
---Ai~TD NO/IOOths-------------------------- vollars 22, 000. OC1
~5--... - pltu any advanc~es necessary
M protect the secwity and costs, then this deed end the estate hereby createcl shall cease and be null and void.
AND THE MORTGAGORS DO hereby c+~venant and agree:
l. To pay all and singular the principal and interest and other sums of maney ~rayable by virtue of said promissory note
and this modgage, or either, promptiy on the days respeetively ihe same severally come due.
2. To pay all and singular the taxes~ auessments, levies, liabilities, obligations and incumbranees of every natare and ldnd
now on said described property, or that hemafter may be imp~s~ , suffered, placed, levied, or assesseci thereon, or that hereafter
may be leried or ass~ssed upon this 11~Iortgage, or the indebtedness securecl hereby, cach and every, when due and payable,
acconling to law, before they become delinquent~ and before any interest attaches or uny penalty is incurred; and iruofar ,u
any thereoE is of record the same sl~all be prompdy satisfied and discharged of recorcl and the original official document (such
as, for instance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said
.4ssociation as Hortgagee within ten days next after payment; and in the event that any ihereof is not paid, satisfieci and discharged,
said Association may ut any time pay the same or any part thereof ~vithout waiving or affecting any option, lien, equity or rig1~ t
under or by virtue of this \iortgage, and the full amount of each and every sach payment shall be immediately due andpa
yable
and shall bear interest frorn the date thereof until paid at the rate stated in the note secured herebv and togeiher witli such inter-
est shall be secured 6y tbe lien oE ihis Mortgage, ~
3. To keep the buildings and all equipmenc and personal property now or hereatter on said premisa rnvered by this mortgage,
insured in a sum equal to at least the amount o[ [he mortgage, or an amount sufEicient to mmply with any co-insunnce require-
ment rnvering the same under the laws of the State of Florida, covering toss irom both Eire and storm, making the loss under said
policies, each and•every, payable w the Ass~ciateon, as mortgagee, a~ iu incerest may apprar, and said insurance shall be in a good
and responsible insurance company satisfaaory to said Association, and writcen by a responsible local agent satisfactory to said Asso-
ciation: and the policy or policies shall bear a standar+d mortgage clause without rnntribution, and. if the original principal amount
of the mortgage is Fifty Thousand and ~o/ 100 Dollars (~50,000.00) or in exceas thertof, -sha11 1~e held by the Associai.ion, and, in
the event any sum of money becomes payable under such policy or policies, the Association slia~l have the option to receive and apply
che same on accounc of the inde6eedness hereby secured, or co permit the- mottgagors to receive and use i~ or any part thereof. for
other purposc~s, without theteby waiving or impairing any equity, lien, or right under and by virtue ot this mortgage, and may
place and pay for such insurance, or any part thereof, without waiving or at[ecting its option to foreclox, or any right hereunder,
and the fu!! amount of each and every such payment shall be immediately due and payable and shall beat interest irom the date
chereof until paid at the rate stated in the note secured hereby and together with such intereat shall be secured by the lien of this
1?Sortgage.
To permit, commit, or suffer no waste, impairment or deterioration of said propert?•, or any part theceof, and upon
the failuro of the mortgagors to keep the buildings oi? said property in good condition of reirair, the Association may demand the
immediate repair of said buildings or the immediate repayment of the debt hereb~• secured, and the failure of the mortgagors
to comply ~vith said demand of the Associ.ltion for a period oE Thirty (30) days, sha11 constitute a breach of this mortgage,
i and, at thc option of the Assoriation, immediately mature the entire amount of princiiral and interest hereby secured, and the
Association, immediately and without notice, may institute proceedin;s to foreclose thu mortgage and apph• for the appointment
; of a Receiver, as hereinafter provided.
5. This mortgage contraM provides for addition:it advanc~es ~vhich may be made at the option of the assoeiation and
secured by this mortgage, and it is agreecl that in the event of such advances the amount may be added 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 indebtedness under all the terms of said note and this contract as fiilly as if a new such note :u~d contract ~~•ere executed
and delivered. An additional advance agreement may be given and accepted for such advance and provision may be made for
different monthly 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, inc)uding all advances.
6. If any of tbe sums of money 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, agrcement, conditions, and covenants of saici
promissory note and this dced, or either, are not duly performed, complied with and abided by, the aggregate sum menti~c~d
in said promissory note and any other amount or amounts added to the mortgage indebtedness under the terms of this mortgage
shall beoome due and pavable forthwith ot thereaEter at the option of the Association, as fully and completely as if said aggregate
sum of money was original}y stipulated to be paid on such day, anything in said promissory note or herein to the cantrarv not-
withstanding. '
~ i. To deliver to the Association, on or before ~iarch 15th, oE each year, tax receipts evidencing the payment of all IaH•-
fulty im~s~ taxes for the preceding calendar year, to deliver to the Association receipts evidencing the payment of all liens
for public improvements within ninety (90) days after the same shaD M~come due. and payabie, and ta pay. or discharge within
ninety (90) da~~s after due date, any and all govemmental levies that may be made on the mortgaged property, on this mortgage
or note, or in any other way msulting fmm the mortgage indebtedness secured by this mortga~e.
. Baox220 oAGF2755