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Home My WebLink About0364 at aU times )~acesbly and c~uietly to rnter u(wn, huld, ucrupy ~nil cnj~~y sarti Lu~d; that x~id luud is (rrt Erom all cncumbranccs; tiiat they will make such further assurances to periect the fee simple title to said land in the Assuci:ition as may rcusuuablv Ix~ rec~uired; and that they do hereby fvlly warrant the title to saicl land :ind will defeud the same :?gai~?st ti~e la~eful cl:?iu~s o[ all ~~ersons ~+~homsoever. PROYIDED AL\~'AYS th:?t if ?he ~lurtgagors shall ~vrll and tn?ly ~y unto the Atax•i:~tion, the• iudebtc~clness evidenced by that certain pmmissory note, of even date herewith, made bv the \fortgagors and pavab(t> to the Asxcx iation, in thc• princi~~:il .um of FIFTEEN THOUSAND AND NO/100ths-------------------- ts 15, 000.00 ~~~hich note, together «~th interest thereon ns thercin specified, is ~xi~•ahk• in monthlti~ insf:?liments ~~f ONE HiTNDRED TWENTY EIGHT AND 46/100ths----------------------~-----------~---------'--- - _ _ ~h,lt~~ ~ S 128. 46 ~ ~~n the _ 19th day of each motitl~ a?mmencing ~~~ith ~~areh 19, 19?4 . _ which pa~~ments :ire to be applied, first to interest, and the balance to pru~cipal, until said indebtedness is paid in full, and shall perform, comply u~ith and abide by each and every the stipulations, agreements, conditions and c~ven.ints of said promissory note and tliis mortgage, And. including any advances made by the Association to the ~fortgagors, or their successors in title, for any purpc~se, at anv time before the release and rancellation of this mortg:~ge, but at no time shall this mortgage seci~re advances on account of s;?id original note together ~vith such additional advances in a sum iu e~cess of_.__ FIFTEEN. THOUSAND AND NO/100ths------------------------------- 15 000.00 _ Dollars (S ' - plus any advances necessan• - - - _ - - - - - - to protect the security and costs, ihen this deed and the estate hereb~• created shall cease and be null and ~~oici. AND THE ~tORTGAGURS DO hereby c~venant and agree: 1. To pay all and singular the princi~al and interest•and other sums of muney payable by virtue of said prumissnry nute .~~~d this mortgage, or either, prompily on ihe da~~s respectively the same severally come due. 2. To pay all and singuJar the taxes, assessments, levies, liabilities, obligations anc~ ine~unbrances of e~ en~ nature and kii?d no~v on s.1id described pmperty, or that hereafter may be imposed, suffered, placed, leviecl, ur assesseci thereon, or that hereafter ma~~ be le~-ied or aictessed upon this ~lortgage, or the indebtedness secured hemby, rach anct e~•ery, ~~•hen due and pa~~able, .~cYOrclu~g to la~v, before the_y become delinquent, and l~efore any interest attaches or :~n~• penalty is incurred; and insofar as any thereof is of reeord the same shall be promptly satisfieci and dischargecl of r~evrd anci the original official document (such is, for instanee, the tax recei~t or the satisfaetion paper officiallv endorseci or certified) shall be placrd in the hands of said .~ssociation as \(ortgagee ~~~thin ten da~~s next after ~~~•ment; and in the event that any thereof is not paid, s~~tisfied anci disehargecl, saicl Association rnay at anv time pa~~ ti~e same or any part thereof ~~ithout sraiving or affecting any option, lien, equih• or right under or b~~ ~tirtue of this ~(ortgage, and ihe full amount of each and e~~en• such pa~~rnent shall be immediatelv due and pa~~able .snd shall bcar interest from the date thereof until paid at the nte stateci in the note seci~red hereL~- and to~ether ~~~ith such intcr- c~st shall be secureci bY the lien of this ~Iortgage. ~ 3. To keep the buildings and all equipment and personal property noM or hereafter on said premises covered by this mortgage. ' insured in a sum eyual to at least ehe amount o( d~r mongage, or an •rmount sufficient to comply with any co-insurance require- ~ n?ent covering the same under the laws of the Statr o[ Ftorida, co?~eriiig loss (rom both fire and storm, making ehe loss under said E,olicies, each and e~•erp. pa}'able to the Association, as mortgagee, as its intrrrst may appear, and said insurance shall be in a goal i :~nd responsible insurance company satis(actory to said Association, anci written by a responsible local age~tt satisfactory to said ??sso- ciation; and the policy or policies shall bear a st:uidard mortg:~e ctause without contribution, and, if the original principal amount of the mortgage is FiFty Thousand and r~o? I lxl Dollara (550,000_O(1) or in excess thereof, shall be held by the Association, and, in thr esent any sum of mone}• becomes pa~•ablc under such policy or policies, the Association shall have the option to receive and appl~ thr same on account oi the indebtedurss hereb~• securrd, or to permit d?e mongagors to receive and use it, or any patt thereoE, for o~her pLrposes, wid~out thereby waiein~; or impairi~~~ any equity, lirn. or right under and by virtue of this mortgage, aiid may place and pay tor such ir~surance, or any part thrreot, without wai~~inK or aifecting iu option to foreclose, or any_ right hereunder, ' and the tull amount of cach and even- such pa~~ment shall Ue immrdiairly due and payable and shall bear interest [rom the date ! thereof muil paid at the rate statect in the note secured hereby aud together wieh such incerest shall be secured by che lien of this ~forcgage. . ! ~ ~1. 7~o rermit, ccmmit, or suffer no ~~•aste, unpairment or dctcrioration of suid prupert~~, or any p.~rt thcreof, and uix~n t!~e f:~ilure of the mortgagors to kecp the buildin~s on saicl propertt• ia good condition of repair, the Association mav ciemand the trnmecii:ire re~~sir oE s:iid bu~ldin~s or the iinme~cliate mpa~Tnent of the debt herebv s~rurc~l, au~l the failure of the rnortgagors to complv ~+~ith said demand of the Assvciation for a Peri~xl of 1'hirtv (30) cl:?~~s, shall coustitut^ :i breach of this mort~age, ; and, at the option of the Association, immediatPlv mature thr entire :i~not?nt of principal and interest herebv seceirecl, and the .-lssnciation, immecliately and without notice, mav institute procce~lin~s t~~ foreclose this mnrt~a~e and appl~• for the appointment ~~f a Recei~•er, as hereinafter pros•ide~l. ~ i. This mortgage contract provides for ac#ditiuiial advaucc~s ~+~hicli mai~ be made at the optiun of the assoeiation and secured by this mort~age, and it is agreed that in the event of such ach-ances the amowtt may be added to the mortgage debt .~t~d shall inerease the unpaicl balance of the note hereby secured Uy ihe amount of such advance and shali be a part of said note indebtedn~•ss under all the terms of saici note and this cc~ntract as fnily as iF a ne~v siech note and contract ~rere executec) .~nd rlelit'erecl. An adciitional advance a~reemei~t ma~• be ~i~-en and acceptc:d for such advance and procision ma~- Ue made for ~lifFerent monthh• pa~•ments .:ncl a different interest rate and other espress modifications of the contrac., but in all~other res~ectt this contract shall remain in full force and c~ffect as to said inclebtedness, incl~iding all ach•ances. 6. If am• of the sums of money herein referred to be not prompth• and fulh• paid ~rithin 'Chsrt~• (30) days next aker the same sever.?lly rnme duc 1nd ~a~•aUle, or if each and even• the sti~iuiations, aorrement, conditions, anc~ cn~•enants of said promissory note and this deed, or either, are nat duly ~erformed, eom~~liecl ~?~ith ancl abided by, ihe aggregate sum mentionecl in said promissory note and~anv other amount or amounts addeci to the mortgage indebtedness under the terms of this mortga~e shall become duc and pa~•able forth~~ith or thcreafter at the option of the Asso:iation, as full~~ and completely 1s if said ag~regatc• sum of mnney was originaily stipulated to be paid on such dav, 1m~thing in said promissorv note or herein to thc contr.in~ not- ~vithstanding. ~ ~ " To delicer to th~ Association, on or before \(arch 1ith, ~if cach ~car, tax receipts evidenciog the pa~nnent c>f all ]a~.~- fully imposed taxes for the precedin~ calc~fclar vear; to dcli~•er to the Association receipts evidencing the pa}7nent oE all liens for public impro~~ements ~~•ithin ninety (~JO) days after the same shall t~ccome due and payable, and to pay or d'ucharge Kithin ninety (90) da~•s after due date, am• and all ~~?~~crnmental levies that ma~ be made on the inort~avecl pr~r~xrt~~, un Ihis mortfia~~ ~r note, or in .m~• oti~er ~va~• res~dtin~ fr~m the mort~age indebtedness seY~urevl b~~ fhis m~rt~:~~e~. , ~ ~ . ~ s., ~ ~ - - 1.•_L - " G3 ~ ; - ~ - - - F ~ ~ - t r