HomeMy WebLinkAbout0358 at all times jx:?cr~.?hly ancl quiedy to rnter upon, hold, ~x.rupy und e~yu~• ~~d 1,?nd; that s:iid lauJ is {re:: frwn ull eneumbr;u~ees;
that they wil! make such further ass~uances to pedt~ct the fee simple title tu s:~id land in the Aswciation :?s mav reusunably lx•
required; and that they do hereby fully wartant the tide to said land and ~~~ill dNfend the same .+gair~st ihe la~~•ful c•lai,ns of ,
:ill Ix rsons ~~•homsoever.
PRO~'IDED AL~~'Al'S thut if die \luttg:t~urs shall ~~•ell ancl tnily p:it~ unto tl?t• r?swc•iation, the indehtcYlness evideuced
b~~ that certain promissory note, of even date herewith, made bv the ~tortgugors and !k?vabic• to the A.ccxiation, in th~~ princi~~:il
TWENTY THOUSAND AND NO/100ths------------------- 20 000.00
:um of - Doll:~rs (S ' ~
~~~hie6 nute, together «7th intcrest thereon as therein sIx•cifieci, is ~x?~•.~bl~~ in m~;nthl~~ instalhnents oE ONE HUNDRED
SEVENTY ONE AND 28/100ths------------------------------------------------
. _ . l~ll:~r~ (S 171.28
- - .
19th ' March 19 19?4
<in the dav oE each month cym~mrncing ~~~ith - - - . . _ which payments
,~re to be .~pplied, first ~to interest, :?nd the balance to principal, tuitil said indebtedness is paid in full, and shall perform, eomply
~.•ith and abide by cach and every the stipulations, agreements, conc~itiot~s and cwvenants of said promissory note and this
tnortgaRe, And, including any advances made by the Association to the \iortgagors, or thcir si~ccessors in titlr-, for any purPosc,
at anv time before the release and cancellation oE this mortga~e, but at no time shall this mortgage secure advances on account
~~f s:~id original note together with such additionai advancc~s in a siun in exc~ess of._ T\N_ENTY _THOLTS_AND_AND__
NO/100ths----------------------------- 20, OOQ. 00 ~ .
. Dollars . plus any ad~~ances necessan•
- - _ _ . -
to protect the security and costs, then this de~d and the cstate hereb~~ cre:~ted sha11 cease and be rzu)1 and ~~oid.
A\D THE ~10R1Y:AGORS DO hereby cv~•enant and agree:
l. To pay ull and singular ihe principal and interest and otlier sums of money pa~~able b~• virtue of suid promi_cson• note
.uul this mortgage, or either, promptly on the da~•s respectively the same sc~~eraily come due. ~
2. To pay all and singular ihe taaes, assessments, levies, liabilities, obligations and incumbrunces of every nature and kind
no~~• on said deseribeci pmperty, or th.it hereafter inav be imposeci, safiereci, plaicecl, 1e~•ied, or assesseel ihereon, or that hereafter
:~~a~~ be Ie~•iecl or assessed upon this \iortgage, or the indebtedness secureel hereb~~, cach aud e~~er~•, ~~~hen due and pay.ible,
.~ccorclu~g to la~v, befare they become dclinclucnt, and before anv interest :ittarhes or an~• penalty ~is incurmd; and insofar .:s
any thereof is of recurd the s:ime shall be promptly s:?tisfiecl and dischar~ecl of *~cord anci the uriginal officiai document (sucli
~s, for irL~tance, the t.~r receipt or ihe satisfaction paper officiaih- enciursed c~r certific~ci) tih.all be placecl in the hands of said
:~ssociation as \tortgagee «zthin ten davs next after pa~•ment; and in the event that anr• ther~~f is not ~k~id, satisfieci and dischargecl,
said Associatio» mav at anv time pa~~ ti~e ~me or any part thereof ~~~thout wai~~ng~or affecting anv option, lien, equih~ or right
' under or bv ~~rtue of this \[ortguge, and the tull amount of each and e~•erv such pay~nent shail be iminecliatelv due and(~ ~:ible
f and shall bear interest from the datc thereof until paid at the nte state>d in the n~>te sec•eirccl hereb~• and togcther ~~•ith such inter-
~ E~st shaii be secured by the lien of this ~iortgage. ~ -
' 3. 7o keep the buitdiugs and all c~qu+pment a~td penonal property now or hereafcer on said premises co~~ered by ehis morcgage,
€ i~esured in a sum cY{ual to at least the amount o( ttir mortgage, or an amotint sutficient to comply with any co-insurance require-
~ ment covering the same under the laws of the State o[ Florida, co~•erinR loss from both fire and storm, making the loss under said
~ policies, each ai~d e~~er}~. payable to the Association, as mortgagee, as i[s interest may appear, aud said insurance shall be in a good
~ and respousible insurance company satis[actory~ to said .association, and Mritten by a rc~sponsible local agent satis(actory to said ~csa
ciatioi~: and tlie policy or policies shall t~ear a standazd mortgage clause Miehout contribution, and, iE the original principal amaunt
+ of the mortRage is Fitt} Thousai~d aod ~io( ItN? Uallara ($50.000.00) or in excess thereoE, shall be held by the Association, and, in
the e~•ent an} sum of mone~~ becomrs pa}:~blr un~ter such poticy or Ewticie~s, the Association sha!! hace the option to receive and apply
? the same on account of the indebtedness hereb~~ secured, or to permie ehe morey,agora to recei~•e and use it, or any patt thereof, tor
~ other purposes, without thereU',v wai~~inK or impairing any ec~uit}•, lien, or right undet and by ~•irtue ot this mortgage, and may
~ place and pay for such insurance, or an}• part thrreof, without Mai~~in~ or af[ecting its option to toreclose, or any right hereunder,
s and the (ull amount of each and e~~er}• such pacmen[ shall be immc-cGatcly due and payable and shaU bear interest [rom the date
€ ehereo[ uritil paid at the rate stated in tlie note secured hereb~ and together with such interest shall be secureei by [he lien of this
~torcgage.
-1. 7o permit, cc:mmit, or suffer no ~~•;~ste, impairment or clrtcriur.?tion t~f said prupert~-, ur :iny part thereof, and u~~on
the failure af thc mort~agors to kcep the biiildings on saicl propcrt~• in ~ood condition u[ repair, the :lssociation ma~ clcmand the
` i~nmecliate repair oE said bu;ldinbs or the immediate repa~~rr?ent of the debt hereh~~ scran~~, an:l the failure of the mortgagors
~ to comp[:• ~~•ith said demand of tlie Association for a~ri<xi of Thiriv (30) d:~~•s, shall c~nstitute a brcach of this mortga~e,
~ and, at the optir~n of the Association, immecli:l~fl4` Illahire the entire amo~int of principal and interest herebv securecl, and the
~ :~ssociation, immediately and a•ithout notice, mav instihde proccedin~s t~ forcrclose this mortaa~e and appl.• for the appointcnent
' c~F a Recei~-er, as hereinafter providecl. ~
Y
~ a. This mortgage contract provides for additiunal advauce•s ~cliicls in.?~• be made at thr uption of the association anc~
p secured by this mort~age, and it is agreed t}?at in the e~•ent of such acivances the a:nount may be addecl to the mortgage debt
: anct shall increase the unpaid hala~~ce of the note herebv seeured bv the amow~t of such advance and shall be a part of said
` note indebtedn~ss under all the terms ~f said note ancl ~this contraet as fulh- as if a new such note ~nd contract a•ere exerutecl
' :uul rleli~~ercd. An additional ad~•ance a~recment ma~• be ~i~rn and acrepted for such advance and pro~•ision tna~• be made for
diffcrent montF~h• pa~•ments .:ncl a different interest rite and other eipress moclificatioos aE the contrac., but in :i1l~other respccts
~hic c~otrsct sh:zll remain in fe}Il force and ~ffct~t as to said ind~•btedness, includinv ~~j ;i~h•ances.
' 6. If an~• ~f fhe st~ms of muney herein reEerred to be not promPtl~• and f~ilh~ ~aid ~cithin Thirtti• (:3O i da}s next after
; the same seti~erailv cr~me due :~ncl pa~•able, or if each and every the stipulations, a~rc~ement, conditions, snd covenants of said
; promissory note and this deed, or either, are not duly performed, cumplied ~~•ith and abidecl by, the aggregate sum mentioneci
in tiaid promisson~ note and am- other amount or amounts addeci to the mortgagc indebtedness under the terms oE this mortga~e
_ shail become duc and pa~-sbte forth«•ith or thcreafter at the option of the Association, as fiillv and completelv :?s if said ag~re~;atc•
; ~um of monev ~~•as originally stipulated tn be paid on such dav, an~~thin~ in s~~id promiss~~r~~ n~te ~r herein to the contrarv not-
- ~~•ithstanding. ~ ~ "
F
To deliver to thr :~ssociation, on ur l~efore \t.?rch 13th, nf each ce.~r, tax receipts evidencing the pa~~ment of all la~~~-
(ully imFx~sc~cl taxes for the [~recedin~ calendar ~•ear; to deli~•er to the Association reccipts evidencing the paymenf of all liens
for publec impro~•ements ~~~ithin ninety (90) clavs after the same shail !x-come dne and pa~~able, and to pay or discharge within
ninety (9(?) dars after due date, an~• and al! ~o~•rrnm~ntal ]evies that ma~~ lx~ mad~ on the mort~a~ed pr~~pert~•, ~~n this mort~a~e
~r note, or in am• other «~av r~~sulting fmm ihe ~nort~age indebtedness secare•~l b~• this murt~a~~•. ~
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i ~..1..~ I'~,r
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