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HomeMy WebLinkAbout2777 i at all rimes peaceably and quiedy to enter upon, hold, occupy and enjoy sa~d land; that said land is (ree from aU encuinbra»ces: chat the} will nutlce such futthe[ a~ P~°~ ~O f°° ~p~ tide to said land in the A.uociation as may reasonably 6e re~uired; and that they do bercby fiilly warten~ the titk ro sa~d land and will defend the s:ime against the la~vfu) claims of aq persons whomsoever. PROYIDED AL~YAYS thut if the I?iortgagors shall well and truly pay unto tl~c Associat;on. the indebtedness evidenced by that certain promiaory note, of even date herewitb, made by the Mortgagors and pa} able to the Association, in the priocirc?1 5, 000 00 . Dollars (a - ' l, FIVE THOUSAND AND NO/IOOths--------- - - - sum oE - - ~ ~ ~ ? P`?" . FORTY-SEVEN ~vhich note, together with interest thereon as therein ified is 1 sble ~n monthly instaliments of AND 95/100ths----------------------------------------------------- _ _ _ - - - ~ - - - - - - - . _ _ 47. 95 _ _ - . . Dollars ( i - - - - ~ - - - - - - - - - - _ - May 7,19?4 on the - - Y ~ -~-•----------~__wluc ~ ~ da of each month c~mmencing ~vith. ~ ~y~ :ve to be applied. first to interest, and the balance to prinrip~l, until said indebtedness is paid in full, sud shall pecfoim. c~ p~Y thLs with and abide by each and every the sUpula~ion~. a8reements, conditions und covenants of said promitsory moztgage, And, including any ad~?~?nces made by the A~iation to the Mortgagon, or theu suoc~ors i~ ~i~, fa ~y p~~ at anv time before the release ar?d cance~lation of this raortgage, but at no time shall this modgage secure advances on account ' FIVE THOUSAND AND_ NO/100 of said original note together with such additional advances in a sum in excess of----------- e~ , no~~~ ca_ 5~ ooo._o- P~~ aa~ to protect the security and cos~s. then thu deed and the estate hereby created shall cease and be nuli and voi . AND THE 11iORTGAGORS DO hereby cvvenant nnd agree: 1. To pay a11 and sinKular the princapa1 and interest and other sums of money payable by virtue of said promissflry note :~nd this mortgage, or either, prompdy on the daYs resPec~lvely the same severally come due. 2. To pay aD and s~gular the tases. ass~me"~s. ~bi1'ties, obligations and incumbrances of every nature and Ivnd now on said described property, or thnt hereafter may be imposed, suffered, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon this ~iortgage, or the indebtedness secured hereby, cach and e~~ery, when due and pay~ble, :,ccording to law, before they became delinquent, and before any interest attaches or any penalty is incarned; and insofar :?s :~ny thereof is of record the same shall be prompdy satisfied and discharged of record and the original official document (such as, for instance, the tax rece~pt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Association as ~iortgagee ~vithin ten days next after pa~Rnent; and in the event that any thereof is not ~raid, satisfied and dischargecl, said Association may at any time pay the same or any part thereoE ~~~thout waiving or affecting any option, lien, equity or right i?nder or by virtue of this ~tortgage, and the fuU amount of each and every such payment shall be immediately due andpa yable and shall bear interest from the date thereof until paid at the rate stated in the note securecl hereb~- and together «7th such inter- est shall be secured by the lien of this riortgage. 3. To keep the buildings and all equipment and penonal property now or hereafcer on said premises oovertd by this mortg+ge. insured in a sum equal to at leut the amount o[ ehe mortgage. or an amount suf[icient to mmply with any co-insunnce require- ment rnvering the same under the laws of the Swte ot Florida. mvering loss [mm both tire and stoim. making th~ loss under said pol~cies, each and every, papabie to the Associaeion, as mortgagee, as its interest may appear. and aaid insunnce shall be in a good ! and responsible insurance company satisfa~tory to said Association, and written by a responsibk local agene satis[actory to said Asso- ; ciation; and the policy or policies shal! bear a standard mottgage clause without tontribucion, and, if the original principal amount ! of the mongage is Fi[ty Thousand and no/100 Dollan (;50.000.00) or in excess thereoE, shall be held by the Association. and, in ` the event any sum of money becomes payable Under such policy or policies, ehe Associaeion shall have che option eo receive and apply i the same on acoount of the indebtedness hereby secured, or to permit the moregagots to receive and use it, or any pan thereoE, for ~ other purpoacs. without thereby waiving or impairing any equity, lien, or right under and by ~irtue ot this mortgag~e, and may place and pay [or such insunnce. or any part thereof,.wichout waiving or af[ecting its option to [orecloae. or any right hereunder, and the full amount of each and every such payment shall be immediately due and payable and shall bear interest from the date thereol until paid at the nte stated in the note secured hereby and together with such interest shall be secured br the lien oE this ~tongage. " ~ To permit, cammit, or suffer no waste, impairment or deterioration of said propert)•, or :~ny part ihereof, and upon the failuro of the mort~agors to keep the buildings on said property in good condition of repair, the Association may demand the immediate repair of said bu;ldings or the immediate repaymsnt of the c3ebt hereby secured, :uxl the failure of the modgagors to comply ~vith said demand of the Association for a period of Thirty (30) days, shall constitute a breach of this mortgage, and, at the option of the Association, immediately mature the entire amount of principal and interest herebv secwed, and tbe ~ssociation, immediately and without notice, may institute proceeclin;s to foreclose this mortgage and applv for the appo~hnent of a Receiver, as hereinafter provided. 5. This mortgage contraM provides for additional advances ~vhich may be made at the option of the assoceation and secured by this mortgage, and it is agreed that in the event of such advances the amount may be added to the modgage debt and shall increase the unpaid balance of the note hereby secured by the amount of such advance and shall be a part of said note indebtedness under all the tecros of said note and this contraM as Eully as if a new such note and contract H-ere executed and delivered. An additional advance agreement may be given and accepted for such advance and provision may be made for ciifFerent monthlv payrnents ~nd a different interest rate and other express modifications of the contract, but in all other respects ihis contract shall remain in fdll force and effect as to said indebtedness, inclucling al a vances. ~ 8. If am• of ihe sums of muney herein referred to be not promptly and fully paid «tithin Thirty (30) days next after ~ the same severally come due ared payable, or if each and every ihe stipulations, aarcement, conditions, and covenants of said ~ promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggnegate sum mentioned in said promissory note and any other amount or amounts added to the mortgage indebtedness under the terms of this mortgage ~ shall become due and pa~~ble forthwith or thereafter at the option of the Association, as fully and completely as if said aggregate sum of money was originally stipulated to be paid on such day, anything in said promissory note or herein to the contrarv not- withstanding. 7. To deliver to the Association, on or before \farch l~th, of each ~•ear, tax receipts evidencing the payment of all laN-• fully im~~ taxes for the preceding ralendar vear; to deliver to the Association receipts evidencing the payment of all liens for pub ~l'c improvements K~thin ninety (90) clays after the same shall hecome due and payable, and to pay or discharge within ninety (90) days after due date, any and all govemmental levies that may be made on the mortgaged property, an this mortgage or note, or in any other way msultin~ from the mortgage indebtedness secured bv this mortga~;e. r ~~c~ ~a~~~ ` ~ _ - ~ ;y ~~-x ~ -t'~'-~„",~~ ; . v ~ ~~.~~i, ~u -S _ _ s.