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Home My WebLink About1224 . ~ ~ at all timespeaceably and qutedy to es~ter upon, bold, oocupy and enjoy s~d lund; ttwt said land is free from All encumbrances: that w~l! malce sudt furtha wuranoe~ 1A Perfed the fae dmple title to said land in the Association as may reasonably ba ~ do ~y fully wartant the tltb ~u said land and will defend the sume against the lawful claims of al~l persons whomsoever. PROVIDED ALWAYS that if the riort aSors s}~all weu ~u'd ~Y PaY ~to the Auociation, the indebtedness evidenoed by that certain promissory note. o~ e~?~° ai~ ~d° by the M°rtgagors and payuble to the Association, in the principal TWENTY SEVEN THOUSAND FIVE HUNDRED AND NO/100_-po~~~ a?, 500.00 sum oE - - - - - - _ - - - - which note, together with interest thetean z?s therein srecified, ts payable in monthly inscallments of. ~terest payments due on June 9,1974, July 9,19?4,_ August 9,1974 and then TWO HiTNDRED THIRTY AND - --?8/100ths-------------------------------_-_---_----_----_-_.--------_----_-----------_-- - - - - - - - - - - - - - - - - - Dolla?rs (=..__230._ 78.----- - y . . ~ ---_which payments . on the--._._~i-----------da of each maath rnmmeacu~g wrth.__... -------~~2~I~l~r_~ P'~P~ until sajd indebtedness is ia fu11, and sball perfoim, coa~ply are to be a , first to interest, and the balance to , P~ with and a ide by each and every the stipu1ations, agreemenb. o~ditians and oovenants of said gromissory note and this moit8a8e, Md, including any advances made by the Association but at no~ti e~s}?all thtu mort~e secure advances an a~cc~t at any time before the release and cancellation of this moctgage, 8aS TWENTY SEUEN TAOiTSAND of said original note together with suc!? additirn?al advances in a swn in exceu of_~_-._---_-_---_-_----- _ FIVE HUNDRED AND NO/ 100ths - - _ _ _ _ _ _ _ 27, 500. 00 ~ ~ advances necessary _ Dollars (i---- P Y - to protect the secuirity and costs. the~ th~s deed and tbe ~ate hereby created shail cease and be null and void. AND THE MOR1'GAGORS DO hereby cvveaant and agree: 1. To p~y all and singular the p~ina'pa1 ~d ~nt~st and other sums of awney payabk by virtue of said promissory note :md this mortgage, or eitber, promptly on the days respectively the same se~'era11Y com6 due. 2. To pay all and suigulat the ~ces. ~'abilities,'obli~ations and incumbrances of every nature and kind now on said desaribed p~opeity, or that hereafter may be im~, suffered, placed, levied, or assessed thereon, or that hereafter may be levied or asse~ed uPon this MortBage, or the indebtedness sec~cl hereby, cach and every, when due and payable, according M law, before they become delinqueat, and before any interest attaches or any penalty it inc~ured; and 'uuofar as :u,y thereof is of record the same shall be PrompdY satisfie~ and discharged of reoord and the original official document (surh ss, for instance, the taz receipt or the satisfactioa paper officially endoised or certified) shall be placed in the hands of said Associati~ as 1?~tortgagee within ten days nert after paymen.t; and in the event that any thereof is not paid, satisfied and discharged, said Association may at any time pay tne same i,~ ar.y gart t}-,er~f :::.~u*, wsi~:~g ~f#e~no any option~ lien. equity or rig„~t under or by vir~ue of this :ltortgage, and the full aawunt of each and every such payment shall be immediately due andpa ya61e and shall bear interest from the date thereof until paid at the rate stated in the note secured hereby and together with such inter- est shall be secured by the liea of ihis Mortgage. ' 3. To keep the buildings and all equipment and petsonal property now or henafter on said premises aover~d by this mortgage, i~uured in a sum equal to at least the amount oE the mortgage. or an amount su[iicient to comply ~vith any ao-insurance require- ment o~vering t6e same under che laws of the State of Florida. aovering loss from both fire and storm. making the laas under said ' policies, each and every, pa~rable to che /?ssociation, u mortgagee. as its interest may appear, and said insunnce stu11 be in a 8'ood t and responsi6le insurance mmpany satisEactory to uid Association, and written by a responsible local agent satisfactory w aaid Asso- ~ ciation; and the policy or policia shall bear a standard mortgagt dause without mntribution. and. if the original principal amount ~ of the mortgage is Fifty Thousand aad no/ 100 Dollan (~,50.000.0~ or in excess thereoE. shall be held by the Assotiacion. and, in che event any sum of money becomes papable under such policy or poliaes, the Associacion shall have the opcion to receive and apply che same on acoount of the indebtedness hereby secured, or co permit the mongagon to reaive md use i~ or an' part thereof, for other purposes, without thtreby waiving or impairing any equity, lien, or right under and by virtue of this mortgage, and may place and par for such insurance, or any part thereoE, without waiving or afEecting its option to foretlose, or any right hereunder. ~ and the EuU amount of each and every such payment shall be immediately due and payable and shall bear interest from the date chereoE unW paid at the nce stated in the note secured hereby and together with such interest shall be aecnred by the lien of this 111ortga+ge. To permit, commit, or suffer rw waste, impairment or deterioration of said 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 complv with said demand of the Association for a period of Thuty (30) days, shall canstitate a breach of this mortgage, and, at t~e option of the Association, immediateiy mature the entire amount of principal and interest hereby secured, and tbe Association, immediately and without notice, may instih~te proceeclin;s to foreclose this mortgage and apply for the appoinhnent of a Receiver, as hereu~after provided. 5. This mortgage contraM provides for additional advances which may be made at the option of the association and secured by this mortgage, and it is agreed that in the event of such advances the amount may be added to the mortgage debt and shall increase the unpaid balance of the note hereby secured by the amount of such advance and shali be a part of said note indebtedness under all the terms af said note and this eantract as fully as if a new such note and contract were executed and delivered. M additional advance agreement may be given and accept~ for such advance and provision may be made for different monthlv payinents xnd a different interest rate and other express modifications of the contract, but in all other respects ~ ihis contract shall remain in full foroe and effect as to said indebtedness, including all advances. 8. If any of the sums of money herein referred to be not promjuly and fully paid within Thirty (30) days next after the same severally come due and payable, or if each and every the stipulations, agreement, conditions, and rnvenants of said promissory note and this deed, or either~ are not duly petformed, rnmplied with and abided by, the aggregate sum mentioned in said promissory note and any other amount or amoants added to the modgage indebtedness under the te~ms of this mortgage shall beoome due and payable forthwith or thcreafter at the option.of the Association, as fuDy and completely az 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 March 15th, of each ye~ar, tax receipts evidencing the payment of all law- F~~lly imposed taxes for the prececling calendar year; to deliver to the AssociaHon receipts evidencing the payment of sIl liens for public unprovements within ninety (90) days after tbe same sha11 t~Ome due and payable, and to pay or discharge within ninety (90) days after due date, apy and all governmental levies that may be made on the mortgaged property, on this mortgage nr note, or in any other way msulting from the mortgage indebtedness secured by this mortgage. - BOOK ~27 PacE 12~ i . - ~~W :r~'..Y: ~ ~t ~~SY+ '7r:9~.~_~ i.~K`vr` ~ ~ ~ ! _ ~ . . . _ . . . _ , _