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Home My WebLink About0369 at aU timcs ~x:imzbly and quietly to cnter ulwn, huCd, ~xrupy anJ cujuy saxl laud; that said laud is (rr~ from ull eucumbr:ux~es: ti?at they will make such further assurances to perfact the fee simple title to said land in the ~wciation as mav rc:?sanably lx• requicetl; and that they do hereby fully wumant the tide to said land and will deCend the sume against thc la~~•ful cl:iims of all Ix rsons ~~~homscx ver, PRO\'1DED AL\~'AYS th:d iF tl~e ~lurtgaguts ~hall ~vell aud tndy tu~to the ~~c~x•i:ition, thr indebt~~clness i•~•idenc~ed by that crrtain pmmissory ~iote. of even date here~vith~ made bv the \tortgagors anci ~~;?~;~hle to the As,~K~iatian, in the Princi~~:~l sum ofT~!ENTS~'-~'IVE THOUSAND SI~ HUNDRFD AND NQ/100----- D~Il:~rs ~3 25, 600. 00 ~~~hich note, together ~~~th interest thercon as therein sixrcified, is iu?~:~bl~~ in munthlv instalhnents uf TV40 HUNDRED ~ NINETEEN AND 24/100--------------------------------------------------------- _ 1h~liz~ (S 219. 24 un the 19th a~,y of each month cY~mmencing ~viih NIaI'Ch 19, 197~ which payments are to be applied, first to interest, and the balance to princip:?1, until said indebtedness is paid in full, and shall perform, comply ~~~ith and abide by each and e~•ery the stipulations, agrcements, rnnditions nnd c~venants of said promissory note and thu mortgage, And, including any advances made by the Association to the ~tortgagors, or their successors in title, for any purpose, at anv time before the release :ind cancellation of this mortgage, but at no time shall this mortgage secure advances on account of said original note together ~~~ith such additional advances in a sum in escess of _T.WEI~TTX.-FIV~_.T~i4[I~~N_~__ _ SIX HUNDRED AND NO/ 100--------_---_--_-.--- po]~ars (g 25, 600. 00 any advances necessan• to proteM the security and costs, then this deecl and the estate hereb~~ created shall cea.se and be null and void. Ai\D THE ~10R'1rAGORS DO hereby cvvenant and agree: 1. To pay all and singular the principal and interest and other sums of money ga}•able b~• ~~irtue of said promissory notc :~nd this mortgage, or either, prompdy on the da~~s rapectively thc same sc~~erally come due. _ 2. To pay all and singulaz the tases, assessments, let~ies, liabilities, obligations and incumbrances of everv nature and kind no~~• on said described pmperty, or that hereafter may be imposed, saffered, placed, leviecl, or :issessecl thereon,~or that hereafter ma~• be le~'ied or assessed upon ihis ~tortgage, or the indebtedness securecl hemb~•, c:~ch and e~•erv, ~~•hen due and payabic, :~ccording to law, before theV t~me delinc~uent, and before any interest attarhes or an~• penalty ~is incurred; and insofxr us .~ny thereof is af recurd the same shall be promptly satisfied and discharnecl of r~cord ancl the original official document (such ~ 1s, for instance, the tax receipt or the satisfaction paper officiallv endorsed or certified) shal! be placrd in the hands of said association as ~iortgagee ~+~thin ten da~~s next after pa~•ment; and in the event that an~• themof is not paid, satisfied and dischargecl, said Acsociation mav at anv time pa~• tlie same or any part thereof ~~rithout ~vai~•ing or afFecting any option, lien, eqaih• or right imder or b~• ~~rtue of this ~lortgage, and the fall amount of each and everv such payment shall l~e immediatelv due and (~.~y:?Ule . and shali fx~ar interest from the date thereof until paid at the rate stated in the noie scrurecl hereb~• 2nd to~ether ~vith sueh inter- c•st sl~all l~e secured by ihe lien of ihis ;1tort~age. 3. ?o keep the buildinp,s and all equipment aud penonal property now or herea[ter on said premises cocered by this mortgage, i insurecl in a sum equal to at least the amount of the mortgage, or an amowit suf(icient to comply with any co-insurance requite- ~ ment co~•ering the same under the laMS of the Statr of Florida, co~•ering lrns trom both tire and storm, making the loas under said ~ ~>olicies. each aud e~•ery, pa}able to the Associatiou, as mortgagee, ac its iuterest may appear, and said insurance shall be in a gooei ~ aud responsible insurance company satistactory to saic! association, and written by a responsible local agent satis[actory to said Asso- s ciation; and the policy or policies shall bear a s~ai~darei mortgage clause without contribution, and, if the original ptincipal amount e ot thr mortgaKe is Fifty 7'housand and no/11N) Uollars (550,000.00) or in excess thereoi, shall be held by the Alsociation, and, in ~ the e~•rnt any sum ot money becomes pa}able uuder such policy or policies, the Association shall have the option to receice and apply k the same on account of the indebteclnrss hereb}~ secured, or to permit the mongagora to receive and use it, or any part thereof, for ~ o[hcr purposes, wiehout thereb} Nai~•inR or impairing any eyuit}', lien, or right under and by ~'irtue of this mortgage, and may ; place and pay tor such insurance, or any part thereof, without wai~~ing or at[ecting its option to [oreclose, or any right hemunder, ~ and the full amount of each and e~•er~• such pa~•ment shall be immcdiately due and payable and shall bear intetest from the date thereot until paid at the rate stated in the note sewred hereby and together with such interest shall be secured by the lien of this ~ ~lortgage. Ez -1. To permit, cemmit, or suffer no ~~~aste, impairment or detcriur.?tion of said pruj~ert~, or :?ny part thereof, and upon ~ the failure of the mortga~ors to keep the buildin~s on said ~ropert~~ in ~~d condition oE repair, the .~ssociation mav dcmand the immecliate repair of said bu;ldin~s or the immediate repa~Tnent of the drUt hereb~~ sccurecl, ancl the failure of the mortgagors ~ to compl~~ ~~~ith said c}emand of t}~e ~ssoeiation for a periocl ~f Thirt~- (30} da~•s, sl~all rnnstitute a breaeh of this mort~age, ~ and, at the option of the Association, immediatc~lv mature the entirc ::mount of principal and interest herebv secured, and the .associition, immediately and without notice, mav institute procceclinRS tn forec•lose this mortga~e and apph~ for the ajr~intment ~ of a Recei~•er, as hereinafter pro~~idecl. r~ 5. This mort~age eontraet provicles Eor aclditiunal advanees ~chieh ina~• be made at the uption of the assoeir~tion and ~ secured by this mortgage, and it is agreed that in the e~~ent of such acivances the a:nount may be added to the mortga~e debt and shall increase the unpaid balauce of the note hereby secured Uy ihe amo~u~t of such aclvance and shall be a part of said ~~s note indebtedness under all the terms of said note and this contract as fully as if a new such notc and contract ~cc•re executecl ancl ~lelivered. An additional :~clvancc agrecment ma~- be gi~~en and accepted for such advance and ~rovision rna~~ }~e made for ' ~iifferent monthl~• pa~~ments .:nd a different interest r:~te and other express modificatioos of the contrar:, but in :~I) ~other respc•c•ts y this contrlct shall remain in full force and effect as t~~ said indebtedness. including all ad~ances. 6. If an~~ nf the sums of money herein referrecl to be not prompth• and full~• ~id ~i•ithin 'Chirt~• ( 30 ) days nrxt aft~•r the same se~~erell~• rnme duc :mcl payable, or if each and every the stipulatirnis, a~rcrment, conditions, and c~venants ~rf saicl promissory note and this deed, or either, are ~not duly performed, complied w-ith and abided by, the aggregate sum mentionecl in said promissory note and anv other amount or amounts addeci to the mortgage indebtedness under the terms of this mortgagc shall become duc and pa~~~ble forth~vith or thcrea[ter at the option of the Asso~iation, as full~~ and c~mpletelv as if said ag~~regat~• sum o[ monev ~~•as originally stipulated to be paid on such dav, am~thin~ in said promissorv note or herein to the contrarv not- wit}utanding. - . . . - To deli~~er to th~• Associatiun, on or before \(arch 13th, ~~f cach ce,u, tas receipts evidencinn the pa~•ment oF all la~~•- fullv im~secl taxes for the Precnlin~ calendar ~~ear, to deliver to ihc Association reccipts e~~idencing the payment of all liens _ for public impro~~ements «•ithin ninety (90) days after the same shall I~ecome due~ and gayable, and to pay or discharge w7thin ninety (90) da~•s :?fter due date, am• and all ~o~•emmental ]evies that ma~• be made nn the mort~~.iged pru~ertti-, ~m thic mort~a~e~ - or note, or in an~~ other w•av resi~ltin~ from th~ murts;age indehtedne+s sec~ired b~• this mort~a~~~. _y~ . . ~-F : ~ ; ' E e1U0 - _ ~ - ~ ,~~x#~ ~ r• c a' y. _ '~'r ~ _ . ~r :