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Home My WebLink About0353 at all times Jxaa:?bly and quiedy to e~ter ujwn, huld, ~xrupy aud eujo~~ sa~d 1:wJ: that s:~id luud is frcti from aU eueumbrai~ec~s; that they will make such further assurances to perfect the fee simple title to said land in the Asxxi:~tion :u mav re:~son:?bly l~c rec~uirc~; and that they do hereby fully warrant the tide to said land and ~vill defend ttic s:ime agaiust the l:i~~•[ul claims of all Jx~rscnis ~~~humsocver. PNOYIDED AL~1'AYS that if the \lort~;.igots shall ~vell and tn~ly pav «nto t1?e :1+.~~x•iuticm, thr indebtcdness cvidenced by th:?t certain promissory note, of even date here~vith, made by the ~tortgagors and ~~:t~•.~ble tn the As,cx•iation, in the princi~xll .um of TWENTY-FQL]R THOiISANI? AND NO/100------------------ ~~ull:?rs ;S 24.000. 00 ~~~hich note, together ~~~th interest thercon us therein specified, is ~:~~:~bl~• in munthlv instalimcnts of TVGO HUNDRED , FIVE A,ND 54/~00--------------------------------------------------------------- . _ Dollars (S 205. 54 . _ on the 19th. ax}• of each month cY>mmenciu; ~~~ith Vlarch_ 1_9_,__197~_______, _ _ which payments :?re to Ue :~pplied, first to interest, and the balance to principal, ontil said indebteclness is paid in full, and shall perform, comply .~•ith and abidc by each and every the stipulations, agrcements, conditions and covenants of said promissory note and this mortgage, And, inch~ding any advances made b~~ the AswciaNon to the ~lortgagors, or their successors in tidr, for any purpoae, at anv time before the release and canceiiation of this mortgage, but at no time shall this mortgage secure advances on account of s:?id ori~inal note together ~vith such addi'tional acivana~s in a sum in e~cess of. `rV~'_ENTY_-FOUR_ THOUSAND_ _ .'-~ND NOI LQO-----------.-----------.---------- Dollars (S. 24. QOQ, ~0 plus any advances necessan• to protect the security and costs, ihen this deed and the estate hereb~• created sh:~ll cease and be null and void. A1~D THE \fORTGAGORS DO hereby~ cu~~enant and ugree: 1. To pay all and singular the principal and interest and other sums of money pa~•able b~~ ~-irtue of said promisson• nutc .~nd thu mortgage, or either, prompdy on die days respectively the same sc~•erally comc due. 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every natare and kind no~r on said described pmperty, or that hereufter may be imposecl, suffered, placecl, leviecl, or assessed thereon, or that hemafter may i~e levieci or assessed upon this \iortgage, or the indebtedness securecl hemU~~, cach and e~~erv, ~~~hen due and pa}'~Ulc, .~ccord'uig to law, before they become delinqucnt, and before anv interest attnches ~~r :my penalty is incarred; and insofar as .~nv thereof is of record the same shall be prompd~• satisfiecl and dischar;eel of r~cord and the original official document (such is, for instance, the tax receipt or the s.~tisfaction papcr offici~llv endorsecl or certified) shall be placed in the hands of said Association as ~tortgagee ~~~thin ten da~~s next after pa~•ment; and in the event that anv thereof is not paid, satufied and dischargccl, >aid Association ma~~ at anv time pa}• the same or any part thereof ~~~thout ~~~ai«ng~or affecting a+n• option, lien, equit~• or right f under or bti• ~1rtue uf this \(ortgage, and the full amount of each and everv such payment shall be immecliatelv due and payable ~ :ind shall bear interest from the date thereoE until paid at the rate state~ci in the n~~le secured hereU~• and together ~vith such inter- ; est shall be securecl b~~ the lien of this \tort~:ige. ~ 8. To keep the buildiugs and all equipment and peraonal property now or herea[ter on said premises covered by chu mortgage. +E i~~sured in a sum equal to at least the amount of the mongage, or an amouut sufficient to comply with any co-insurance mquim- t mene co~•ering the same under the laws o[ ehe State ot Florida, co~~eriuR loss [rom boeh [ire and storm, making the loss under said ~ I~olicies, each and e~~ery, payable to the Associatiou, as mortgagee, as iu iutrrrst may appear, and said insurance shall be in a good s and tesponsible insurance company satisfactory to said association, and w•ritten by a resPonsible local agent satisfactory to s3id Asso- ~ ciation: and the policy or policies shall bear a standarci mortgage ehusr w•ithout contribution, and, if the orig,inal principal amount 3 of the mongage is Fifty 7'housand and nof 1(N~ I)ollars (S50,OOO.UO) or in excess thereot, shaU be held by the Association, and, in ` the e~~ent an~ sum of money becomes pa~~able uude~ such policy or policics, the Association shalt have the option to receive and apply t thr same on account oE the indebteduess hereby secured, or to permit the mortqaqots to recei~•e and use it, or any part thereof, for ~ other purposes, without thereb}' wai~~inp or impairing any ec{uity, lien, or right under and by ~•irtue o[ this mongage, and may ~ place and pay [or such insurancc, or auy part chereot, without wai~•iny; or a[fecting its option to toreclose, or any right hereunder, c and the full amount of each and e~•er} wch payment shall 1>e immediately due and payable and sha)1 bear interest Irom die date ~ therrot until paid at the rate stated in thc notc secured hereb}~ and together with sud~ interest shall be secured by the lien oE this ~ ~tortgage. a ~ 4. 7~o permit, ccmmit, or suEFer no ~~~aste, impairment or dcterior.ition of s~id propert~•, or any part ihereof, and uE~on ~ the failurc of thc mort~a~ors to kcep the buildin~s on said pruperh• in gcxxl cundition of repair, the ~ssociation ma1' demand the ~ irnmecliatc re~wir of said bu~Idin~s or tiie immediate mpa~Tnent of the debt hcrcUt seci~recl, .uul the failure of the mortgagors ~ to complv ~~•ith said clemand of the Associ:ition for a~xri~xl of Thirt~~ {30} d:?~•s, sh~ll constitut^ :i breach of this mortga~e, i: and; at thc opti~n of the Association, immediateh~ mature the PiltliP amr.unt of principal and interest herebv secured, and the _4^y ' :lcsociation, immediately and «•ithout notice, mav insHtute procec~linRS tr~ foreclc~se this mortga~e and appl~• f~r the appointment ~~f a Recei~•er, as hereinafter pmvide~l. . ~ 5. This mortgage contract provides for additiunal advances ~~liirh ma}' be made at khe uption nf the association and secured by this mort~age, and it is agreed that in the e~•ent of such ach-ances the a:nount may bc added to the mortgage debt .~nd shall increase the unpaid balance of the note herebv secured Uy the amount of such ad~~ance and shall be a part of saicl ~ note indebtednc~ss under all the terms of ~id note and this contract as ftilly as if a new such note and conUact .cere executecl .~nd cleli~•ercd. :1n additional advance agrccment ma~• be gi~'en and acceptcd for such ach~anm 8R(1 PiOVision ma~• be made for ~Iifferent monthl~• pa~~~nents : nd a different interest rate :incl other espress modifications of the contrac:, but in all~other resrects - ~hic contnct sl~.~ll remain in full Force and effect as to said indebtedness. including all advances. 6. If am• of the sums of money herein referred to be not prompth~ and fulh• paid ~~•ithin Thirh• (30 j da}'s next aftcr - the same se~'erall~~ cv~me due an<l ~ayable, or if each and every the stipulations, a~rcrment, conditions, and cnvenants of said pmmissory note and this deed, or either, are not duly pedormed, eomplied ~+•ith and abideci by, ihe aggregate sum mentionecl in said promissorr~ iwte and anv other amount or amounts added to the mortga~e in<lebteciness under the tcrms of this mortga~~ shall become due and pa~•~Ule forthwith or thereaker at the option of the Asso~iation, as fulh~ and completely as if said ag~~regate• _ ~ ~ sum of money ~~•as oriQinally sti ulated to be id un sach da~~, an~~thin~ in said promissorv~ note or herein to the contran• nnt- ''t~ ~.~ithstandiiig. ~ ' - ; . i. To deli~•er to the Association, on or Uefore \I:ucl? lith, r~f each ~exr, tax receipts evidencinn the payTnent of a11 la~~-- fiillv imlx~sed taxes for the rrec:edin~ calendar ~•ear; to deli~•er to the Association receipts evidencing the payment of all liens - for~public improvements u~ithin ninety (90) days after the same shall txrnme due and pa~~able, and to pay or discharge w~thin riinety (90) dars after due date, an~~ and all fio~•ernmentrl levies that mav be made on the mort~a~ed prupert}~, on this mort~a~e• nr note, or in an~~ other ~vav rc•sultin~ fmm the mortpa~;e indebtednesc secured b~• this m~rt~a~e~. 1 ~~=3 ~ z ~~:r ~~2 - _ ~ _ _ ~ - . -