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HomeMy WebLinkAbout2603 at aU times peaceably and quiedy to enter upon, hcrid, occu y und cnjoy s:i~d lu~zd: that said la~x1 is free from all encumbrances: that they will make such furtDer assuiances to P~~ ~ple title to said la~d in the Association as may maso~u~bly ix requirecl; and that they do he:eby fdly wanan~ the title ro s~?'d 1~~~d a~d wiU defe~nd the sume ngainst the la~vEul cluims of all persons whomsoever. PROVIDED ALWAYS tlwt if the \iortgagors shuU well and truly pay unto the Assoriation, the indebtedness evidea~ced by that ce~tain promissQry note, of evea date herewitb, made by the \tortgagors and Ira}:~ble to the Assa~iation, in thc princi~~l 20 000.00 ; TWENTY_THOUSAND AND NO/lOOths------- _ ~i~:~n (a sam of - - - ONE HUNDRED ~~•hich note, together ~vith interest thereon :~.s therein speciEieci, is p:?yu~l~ in monthly installments of ~ . SEVENTY ONE AND 28/100ths-------------------------------------------------- . . - - - ~ _ . . noltars (s . _.171._28..___ - - - _ , _ . Au ust 10, 1974 which payments } on the. lOth- Y - - ----da of each month commencu~g ~v~th _ - • are to be :ipplied, first to interest, and the balance to principal, until said indebted~ess is paid in full, and shall perforno, coa~ply ; ..•ith and abide by each and erery tbe stiPWations, agreements, conditions and covenants of saicl proinissory note and thLs mortgage, And, including any advances made by the Aswciatia? to the ~iortgagors, or their successo~s in tit1C, for any purpuae, at anv time before the release and c~nce~~ation of this mortgage, but at no time shal! t~EoNrt'gr'aY THO aUSAND AND nt ; - ` of said original note together ~vith such additiaial advances in a sum in e~cess of_____.__. - - - - - - - - - - - - bo rs ( ) plus an ad ecessan NO/100ths lla S 20, 000.00-- , y vanc~es n , - - - - - - - - to protect the security and costs. then this deed and the estate herebv crcatecl shall cease and be null an voi . A1VD THE ~tORTGAGORS DO hereby euvenant and agree: 1. To pay all and singular the principal and interest and other sums oE money payable by virtue of said promissory note .~~~c1 this mortgage~ or either, prompt[y on the days respectively the same sc~erally come due. To pay all and singular the taxes. as~smentr. levies, liabilities, obligations and incumbrances of every nature and kind noa• on said described property. or that hereafter ~nay be imposecl, suffered. placed, le~ried, or assessetl thereon, or that hereafter rnay be leviecl or assessed upon this \iortgage, or the indebtedness securecl hereb~~, rach and every, ~vhen due and Payable, ;,ccording to la~v, before they become delinquent, and before any interest attaches or :~nv penalty is incurn~d; and insofar :u .?ny thereof is of record the same sliall be promptly satisfied and dixhargecl of record and the original official document (such 1s, 7or uutance, the ta~ receipt or the satisfaMion paper officially endorsed or certified) shall be placed in the hands of said _association as ~tortgagee «zthin ten da,vs next after ~rs}mnent; and in the event that any thereof is not }x?id, satisfied and ditcharged, ~~id Association may at any time pay the same or any part thereof ~~lthout ~vaiving or affecting any option, lien, equity or right : ~~nder or by virtue of this \tortgabe, and the full amount of each and every such payment shall be immecliately dae andpa yable j and shall brar interest from the ciate thereof until paid at the r.?te stated in ihe ~~ote serurc~cl hereb~• and torether with ~ueh inter- e~st shall be securecl by the lien of this btortgage. 3. To keep the buildinp,s and all equipment aud penonal property now or hemafter on said premises covered by this mortgage. insured in a sum equal to at least the aroount o[ the mortgage. or an amount suf[icient to comply with any co-insunnce require- ment co~~ering the same under the laws of the State oE Florida. covering loss Irom both fire and storm, making tht loss under said ~ policies, each and every, payable to the Association, as mortgagee, as its intrrrst may appear, and said insurance shall be in a good ~ :,nd responsible insurance company saeisfactory eo said Association. and written by a responsible local agent satis[actory to said Asso- c i:ition: and ehe policy or policies shall bear a standard mongage clause without contribution, and, if the original principal amount of the mortqage is Fi[ty Thousand and no/100 Dollars (S`.?~.~•~) or in excess thertof. stull be held by the Assotiation, and, in et~e e~~ent any sum o[ money becomes pa}able under such policy or policies. the Association shall ha~e the option co receive and apply ehe same on account of the indebcedness hemby secured, or to permit the mortgagors to receive and use it, or any part thereo[. for ottier purposes, without thereby wai~inR or impairing any equity, lien, or right under and by virtue ot this tnortgage. and may place and pay [or such insurance, or any part thereof, without waieiug or a((ecting iu opcion to (oredose, or any right hereunder. a~~d the Eull amount of each and e~~ery wch pa}'ment shall be immcYliately due and payable and shall bear interest Erom the date tl~ereo[ until paid at the ra[e staeed in the noee secured hereby and eogether with such intetat shall be secured br the lien of this ~iorcgage. To permit, commit, or sufEer no waste, impairment or detcrioration of said propert~•, or .my part thereof, and upon the failtire of the mortgagors to keep the buildings on said property in good condition of repair, the Association mav ~lemand the immediate repair of said bu:ldings or the unmediate repayment of the debt hereb~• securecl, and the failure of the mortgagors to compiy ~rith said demand oE the Association for a period of Thirty (30) da~~s, shall constitute a breach of this mortgage, and, at the option of the Association, immediatelv mature the entire amount of principal and interest herebv secured, and the :\ssociation, immediately and without notice, may institute proceedin;s tn foreclose this mortgagc and apph• for the appointment of a Recei~~er, as hereinaker providetl. 5. This mortgage conMet provides for addition:il advances ~~~hich m:iy be made at the option of the association and ~ ~ecured by this mort,a,age, and it is agreecl that in the event of such ad~-ances-the amount may be addecl to the mortgage debt ; ,{nd shall increase the unpaid balance of the note hereby secured by ihe amount of such advance and shall be a part of said ~ note indebtedness under all the terms of said note and this ccntract rs fully as iE a new such noie and contract ~+-ere executeci ~ ~nd delivered. An .?dditional advance agreement ma~• be gi~'en and accepted for such ad~ance and pmvision ma}• be made for rlifFerent monthk pa~•ments and a different interest rate and other express modifications of the contrac., but in all other respects _ this contract shall remain in full force and effect as to said indebtedness, inch~ding all advances. _ s 6. If any of the sums of money herein referred to be not promptly and fullv paid ~~-ithin Thiriy (30) days next after i the same se~erally come due and payable, or if each and every the stipulations, a~rcement, cc,nditions, and covenants of said promissory note and this deed, or either, are not duly performed, complied ~~•ith and abided by, ihe aggregate sum mentioned in said promissory note and anv other amount or amounts added to the mortgage indebtedness under the terms of t}-.is mortgage shall become due and ~ra~~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 snch dav. anvthing in said promissory note or herein to the contrarv not- .~7thstanding. - 7. To deliver to ihe Association, on or before ~tarch lith, of each ~•esr, tax receipts evidencing the payment of all ]a~~•- fully imposecl tazes for the prececling calendar ~~ear; to deliver to the Association receipts evidencing the payment of all liens - for public impmvements ~~-ifhin ninety (90) days after the same shall hecome due anc payable, and [o pay or discharge within ninety (90) da~~s after due date, an}' and all governmental levies that may be made on the mortgaged property, on ihis mortgage ~r note, or in any other w•ay msultin~ fmm the mortgage indebteclnes.c seeurecl bt• this mortRa~e. _ a BOOK2~ PACE~,UW , ~ ; - ~ ~ .