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Home My WebLink About1564 ~ i~' , at all times peaceably and quietly to eater upon. hold, occupy und c~yoy said ixi~d; that szid lancl is free fmm all encumbrancet: that they will make such furthez assuranoes On perfect !he fee simple title to said land iri the Association su may reasonably bo requirecl; and that they do her~eby fiilly wazrar?t the tida to said land and ~vill defend the sume against the la~vful claims of all persons whomsoever. . PROVIDED ALWAYS that if the 11lortgagurs shall weU and truly pay unto the Association, the indebtedness evidenced by that certain promissory note. of even date herewith, mada bv the ~tortgagon a~d pawable to the Association, in thr principal THIRTY FOUR THOUSAND AND NO/100ths--------- 34 000.00 sum of - - - - - - - - _ _ _ . _ Dollars (3 ' 1. ~vhich note, together with interest thereon as themin, specifieci, is gayable in monthly installments of interest payments _ due on February 4,1974, March 4,1974, April 4,B?4, May 19?4, June 4,1974, July 4, . - ~ - - . _ . . 1974 and then TWO HiJNDRED NII~TETY ONE AND 17/100ths------------------------ - Dollars (s 291.1 ? on the. ._.4~..._..day oE each month c~mmencing ~vith- ._Au~uSt.4, 19?4------------------- -----which payments are to be :?pplied, first to interest, and ihe balance to principal, until said indebtedness is paid in fiill, and shall perform, oomp1y ~vith and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and tl~u mortgage, And, including any advance4 made by the Association to the Mortgagors, or their sueces.sors in tidC, for any purpo6e, at any time before the mlease and canc~ellation of this mortgage, bui at no time shall ihis mortgage secure advances on account of said original r?ote together ~vith such additional advances in a sum in excess o£_ THIRTY FOUR THOUSAND AND NO 100ths-------------------------- vollars 34, 000. 00 ~ (s-- - plus any advances necessary - - - to protect the security and costs, then this deed and the estate hereby crcatecl shall cease and be null and void, AND TtlE riORTGAGORS DO hereby cuvenant and agree: 1. To pay all and singular the principal and intetest and other sums of money ~rayable by virtue of said promissor,y note ;~nd this mortgage, or either, prompdy on the days zespectively the same severally come due. 2. To pay atl and singular the taxes, asseuments, ]evies, liabilities, obligations and incumbrances of every nature and ldnd now on said described property, or that hereaker may be im~, suEfered, placed, levied, or assessed ihereon, or that hereafter may be levied or assessed upon this Mortgage, or d~e inde tedness securecl hereby, rach and every, when due and payable, accorcling to law, before they become delinquent, and before any interest attaches or any penalty is incumed; and insofar au .iny thereof is of record the same shaIl be promptly satisfied and discharged of record 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 Association as ~iortgagee within ten days next after Ira~~nent; and in the event that any ihereof is not paid, satisfied and discharged, said Association may at any'e pay the same ar any part thereof ~vithout waiving or affecting any option, lien, equity or right under or by ~~irtue of this ~iortgage, and the full amount of each and every such payment shall be immecliately due andpa yable and shall bear interest from the date thereof until paid at the nte stated in the note serured hereb~• and together with such inter- est shall be secured by ihe lien of this 1liortgage. ~ 3. To keep the buildings and all equipment and personal property now or hemafter on said preanisa covered by this mortgage. insured in a sum equal to at least the amount o[ the marcgagr, or an arreount suffitient to rnmply with any co-insurance tequire- ment mvering the same under the laws of the Seate of Florid~, covering loss trom bath Eire and storm, making the loss under said policies, each and e~ery. payable to the Association, as mortgagee, at its ineetest may appear, and said insurance shall be in a good and responsible insurance company satisfactory to said Association, and written by a responsible tocal agent satisEacwry to said Asso- ciation; and the policy or poticies shall bear a seaudard mortgage dause without rnntribution, and, if the original principal amount of the mongage is Fifty 'Thousand and no? IOq Dollars {550,000.00) or in excess thereof, sha11 be held by the Auociation, and, in ~he e~ent any sum of money becomes payable under such policy or policies, the Association shaA have the opeion to receive and apply the same on account of the indebtedness hereby secuted, or to permic the inortgagon to receive and use it, or any part theteof, for other purp~ses, without thereby waiving or impairing any equity, lien, or right under and by virtue of thu mortgage, and may place and pay for such insurance, or any part thereof, wiehout waiving or af[ecting its option to forecloae, or any right hereunder, and the Eull amount of each and every such payment shall be immediately due and payable and shall bear interest Irom the date chereot uncil paid at the rate swted in the note secured herebr and together with such intetest shall be serured by the lien of this ; ~tortgage. ~ ~ To permit, commit, or suffer no ~vaste, impairment or deterioration of ;~id propert~•, or :~ny part thereof, and upon ~ tl~e faituro of the mort a ors to kee the bi~ildin s on said r+o rt• in oal condition oE re air the Association ma demand the ~ immediate repair of said bu;ldings or the immediate repayinent of the debt hereby sc~c:ure~rd, and the failure of the mortgagors ` to comply ~vith said demand of the Associ.ltion for a period of Thirty (30) d1ys, shall constitute a breach of this mortgage, E and, at the option of the Association, immectiately mature the entire amount of principa) and interest hereby secured, and the ; Association, immediately and without notice, may ins6tute proceeclin;s m foreclose this mortgage and applv for the appoinhnent ' of a Recei~ er, as hereinaker provided, ~ S. This mortgage contract provides for additionul 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 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 saicl note indebtedness under all the terms of saia note and ihis contraM as fully as if a new such note and conUact ~~~ere executeci ~ and delivered. An additional ad~ance agreement may be given and aecepted for such advance and provision may be made for different monthlv pa~~r?ents and a different interest rate and other express modifications of the contract, but in ail other respecks ~ ihis contrlct shall remain in [ull force and effect as to said indebtedness, including all advances. ; 6. If an~• of the sums of money herein referred to be not prompdy and fullv paid ~a•ithin Thirty (30) days next aEter ; the same severally come due and payable, or if each and every the stipulations, agrcemeni, 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 and any other amount or amounts added to the mortgage indebtedness under the terrns of thu mortgage z shall become due and payable forthwith or ihcreafter at the option of the Assoeiation, as fuIIy and completely as if said aggregate E sum of money was originally stipulated to be paid on such day, any~thing in said promissory note or herein to the contrarv not- withstanding. ' ~ 7. To deliver to the Associatian, on or befare :lfarch l~th, of each ~•ear, ta~ receipts evidencing the payment of all la~+•- ~ fully im~ taues for the prececling raiendar year; to deliver to the Association receipts evidencing the ~payment of all liens for pub ic improvements ~vithin ninety (90) days after the same shall hecomc due and payable, and to pay or discharge within ninety (90) da~~s after due clate, any and all governmental levies that may be made on the mortgaged property, on this mortgage or note, or in any other way resulting from the mortgage indebtedneas secured bv this mortRaRe. e0fi~ ~22 ?AG~ 3.563 ~ : r ~ : _ _ , { ~ ~ _ ~ _ . ~ _ _ ~ . : ~