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Home My WebLink About0670 ~ . ! • ~ _ at s~ll timespe~ceably and quietly to entec upoa, hold oocupy and enjoy sa,3 lur~d; that said land 'u free from all encumbranoes: that the wiU make such furthaer ass~uanoes to perfec~ the fes d~nple title to said lsad in the t~swciution aa may re+?~nably be requi~; and t1~at they do hereby f~illy vvar~xnt the title to sa~d land and will defend the sume against the la~+ful ctaims oE aU perso~s whomsoever. PROVIDED ALWAYS thut iE the r~o~gagors shall weU and tndy pay unto the Association, the indebtedness evidenoed by that certain prou?issory note, of e~° h0~~~. ~a° by the Mortgagors and pawable to the Association, in the principal TWENTY SEVEN THOUSAND AND NOI100ths---------'--"po~~~ ~a 27, 000._00 sum of - - - - - - - - - ble in monthly inscallments of. ~~erest payine~nts_ which note, together with interest thereon as therein sPecified, is paya due on June 1,1974, July 1,1974, August 1,1974, Septeml~er 1,1974, October 1, 1974 - - - _ _ - . - - - - ~ _ . . November_ 1_, __1974_ and. then TWO HUNDRED TWEN'rY SIX AND 59 100ths- • - ~ - - - - - ~ 226. 59 - - - Dollars (i - - - - - - - - December 1,19?4 on the----- 13t_---------daY of each month commencing with.--- ---------_-__-_----------------which payments .u~e to be upplied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, eomply with and abide by each and every the stipu1atans, agreements, conditions and coveaants of said peomissory note and thLs mortgage. Md. including any advances made by the Association to the Mortgagors, or iheir sua~essots in titks, fac any p~rposc, at any time before the release and cancellation of this mortgage, but at no time shall this mortgage sxure advanc~es oa aocount TWENTY SEVEN THOUSAND of said original note together with such addiHonal advances in a sum in excess of--------------- ARTI? *:(3!?OQ+h~----------------------- 27,000.00 _ ~1~1~j 1~---° ------%s Y L''S 3'~'I =~Yfi?!i'PS fll~aTV - to pmtect the security snd costs. tben this deed and the estate hereby created shall cease and be null and void. AND THE MOR'PGAGORS DO hereby cvvenant and agree: 1. To pay all ancl singular ihe Prinapal and int~st and other sums of money payable by vidue of said promiaory note and this mortgage, or either, promptly on the days respectfvely the same severally mme dne. 2. To pay all and singular the tazes, ass~sments, levies, liabilities, obligations and incumbrances of every nature and ldnd now on said described propecty, or that hereafter may be imposed, sufEered, placed, levied, or assessed thereon. or that hereafter may be levied or assessed upon tbis Martgage, or tbe indebtedness secured hereby, cach and every, when due and payab1e, according to law, before they ber-'ome delinquent, and before any interest attaches or any penalty is incarred; and insofa~ ~s any thereof is of record the same shall be promptly satisfied and discharged of reflord and ihe original official document (such i as, for instance, the taz receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said i, Association as Mortgagee within ten days next after payment;.and in the event that any thereoE isQ ot~pa ~~~tu~~. eoui~o~neht said Association may at any time pay tne same or a?,y ~;~ri u~j~.,. iililliiili .:~=K.b .~...-...,a ~--i -a : - under or by virtue of this :~iortgage, and the full amount of each and every such payment sha11 be immediately duejandpa ya~le and si~ll beas iaterest from the date thereof until paid at the rate stated in the note secunYl hereby and together with snch inter- est shall be ~ secured by the lien of this Martgage. 3. To keep the buildings and all equipment and peisonal propeny now or hereatar on ~id premises covered by this ~rtgagr. insured in a sum equal to u leut the amount of the mortgage. or an amount suf[iaent to comply wich any co-insurance require- ment covering the same under the laws of the Scace oE Florida, covering lo6s [rom boch fire and storm. making the loa under uid policies, each and every, payable to the Association, as mortgagee, as iu interest may appear. and said insunnce ahall be in a good `i and responsiWe insurance company satisfactory to said Associacion, and writcen by a responsibk loal agent sat~stacwry to said Asso- # [ ciation: and the policy or policies shall bear a standard mortgage clause without contribution, md, iE the original prinapal amounc i of the morcgage is Fi[ty Thousand and noJ100 Dollais (;50.000.00) or in access thereof, shall be held br the Association, and, in the event any sum of money becomes payable under such policy or policies, the Association shall have the option w reteive and apply che same on account oi the indebtedness hereby secured. or to permit che mortgagora co reoe~ve and uae it, or anr pue thereof, for other purpoaes, without thereby waiving or impairing any equity, lien, or right undet and by virtue of this mortgage. and ma' place and pay for such insurance, or any part thereof. without waiving or affeccing its option to forecbse. or any right hereunder. and the full amount of each and every such payment shall be immediately due and payable and shall bear inurest from the date ehereof until paid at the nte stated in the note secured hereby and together with such interat s6a11 be secured by the lien oE this 1liortgage. ~ To permit, commit, or suffer no waste, impainment or deterioration of s:~id propert~•, or any part thereof, and upon ~ the failuro of the mortgagors to keep the buildings on said property in good condition of repair, the Association may demand the immediate repair of said buildings or the immediate repayment of the debt hereby secured, and the failure of the mortgagors to comply ~vith said demand of the Association for a period of Thirty (30) days, shall constitute a breach of this mortgage, and, at thc option of the Association, immediately mature the entire amount of principal and interest hereby secured, and tbe Association, immediately and without notice, may institute proceedin;s to foreclose this mortgage and apph• for the appointment of a Receiver, as hereinafter providecl. 5. This mortgage contract provides for additional advances whicl~ may be made at the option of ;he assoeiation and seeured by this mortgage, and it is agreeci that in the event of sueh advanees the amount may be added to the moctgage debt and shall increase the unpaid balance of the note hereby seciued by the amount of such advance and shall be a part of said note indebtedness under all the terms of said note and this contract as fu11y as if a new such note and contract were executed :?nd delivered. An additional advance agreement may be given and accepted for such advance and provision may be made for different monthlv payments and a different interest rate and other expras modifications of the contract, but in all other r~speccts ihis contract shall remain in full force and effect as to said indebtedness, induding all advances. ? ~ 6. If any of the sums of money herein referred to be not promptly and fully paid within Thirty (30) days next after ~ the same severally come due and payable, or if each and every the stipulations, o°rcement, conditions, and covenantt of said ' promissory note and this deed, or either, are not duly performed, rnmplied with and abided by, the aggregate s~m mentioned i in said promissory note and any other amount or amounts added to the modgage indebtedness under the terms of this mortgage ~ shall become due and pavable 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 contrary not- ~ ~vithstanding. ~ 7. To deliver to the Association, on or before 1~arch 15th, of each year, tax receipts evidencing the p~yment of all laH- hdly imp~~ taaes for the preceding calendar year; to deliver to the Association receipts evidencing the payment of all liens for public improvements within ninety (90) days after the same shall become due and payable, and to pay or dischazge within ninety (90) davs after due date, any and all governmental levies that may be made on the mortgaged pmperty, on this mortgage or note, or in any other way msulting from the mortgage indebtedness secured by this mortgage. , F BOOK227 PAr,E VI~ . -t-°~ - ~ - = ~ _