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HomeMy WebLinkAbout0990 at all times peaceably and quietly to enter upon, hold, ~xrupy und enjoy sa~d land; that suid land is frcti from al) encumbrances: that they wili make such further assurances M perEect the fee simple title to said land in the Association as may reasonably ix~ required; and that they do hereby fully warrant the tide to said land and ~vil) deFend the same against ihe la~~~Eul claims of alt Ix•rsuus wl~uinsoever, PROVIDED AL~ti'A7S that if die ~lortgagurs shall well and truly pay unta the Association, thr indebtedness evidenced by that certain promissory note, of even date hecewith, made bv the \iortgagors and pa~•uble to the Association, in the principal FORTY TWO THOUSAND FOUR HUNDRED AND NO/100ths-- ~s 42, 400. 00 ~ sum of - . _ _ _ ~~~hich note, together ++~th intemst chereon as therrin ~~rified, is p:ry:ible in monthh~ installments of THREE HUNDRED SEVENTY AND 46/100ths------------------------------------------------------- ~ _ t~ll~r~ ~s 370. 46 - - l Oth April 10, 19? 5 which ments on the _ day of each month a~mmencing with . _ PaY :~re to be applied, fint to intecest, and the balance to principal, until said indebtedness is paid in ful1, and shall perform, comply ~~~ith :u~d abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and this mortgage, And, including any advances made bV the Association to the Mortgagors, or their successors in titlr, for any purpose, at anv time before the release: and rancellation of this mortgage, but at no time shall this mortgage secure advances on account of said original note together ~vith such additional aclvances in a sum in e~cess of____FORTY TWO THOUSAND FOUR HUNDRED AND NO/100ths----------- 42, 400.00 lus any advances necessan• : - - - . _ Dollars (S P _ . - - _ - - - _ to protect the security and costs, then this deecl and the estate hereby createcl sh:ill crase and be null and void. AI~D THE \tORTGAGORS DO hereby c~venant and agree: 1. To pay all and singular the principal and interest and other sums of money payable b}' ~~ue of said promissory nute .~nd thu mortgage, or either, promptly on the days respectively ihe same severally come due. 2. To pay all and singular the taces, assessments, levies, liabilities, obligations and incumbrances of every nature and kind nu~~- on said described property, or that hereaEter mav be imposecl, suffered, placecl, levied, or assessecl thereon, or that hereafter ma~~ be tevieci or assessed upon this ~fortgage, or the indebtedness secured hembv, cach and eti•ery, ~vhen due and payablc, .~ccord'u~g to law, before they become delinquent, and before any interest attaches or am• penalty is incurred; and insofar as .iny ihereof is of recc~rd the same shall be promptly satisfied and discharged of r~cord and the original offieial doeument (such :is, for instance, the tax receipt or the satisfaciion paper officially endorsed or certifiecl) sh:~ll be placeci in the hands of said Association as \tortgagee within ten days next after pa}~nent; and in the event that any thereof is not paid, satisfied and dischargec], said Association ma~~ at anv tirne p.1y tl~e same or any part thereoE ~~~thout ~vaiving or affecting aii~• optiun, lien, equit~~ ur ri ght ~inder or by virtue uf this ~lortguge, and the full amoant of each and everv sach payment shall be immediately due and payable and shall bear interest from ihe date thercof until paid at the r:?te stated in the note secured hereb~• and to~ethPr with sach inter- ~~st shall be secured by the lien of this Atortgage. ! 3. To keep the buildinqs and all equipment ancl penonal property now or hereaEter on said premises covered by this mortgage, insured in a sum equal to at least the amount of tt~e mongage, or an amount sufticient to comply with any co-insurance require- ment co~~ering the same under the law~s of the State o[ Florida, co~•ering loss from both [ire and storm, making the laas under said ~ policies, each and eeery, payable to the Association. as mortgagee, as its interest may appear, and said insurance shall be in a good and responsible insurance company satis[actory to said Association, and wrieten by a responsible local agent satisiactory to said Asso-. c iation: and the policy or policies shall bear a standard mortgage dause without contribution, and, if the original ptincipal amount ; of the mortgage is Fifty Thousand and no J 100 Dollan (550.000.00) or in excess thereof. shall be held by the Association, and, in tt~e ecent any sum of money becomes payable under such policy or policies, the Association shall have the option to receive and apply the seme on accounc of the indebeedness hereby~ secured, or to permit the mongagors [o receive and use it~ or any pan thereof, for other purposes, without thereby wai~•ing or impairing any equity. lien, or right under and by virtue o[ this mortgage, and may $ place and pay [or such insurance, or any part thereof, Mithout waicinK or affecting its option to (omdose, or any right hereunder, ' and the [ull amount o[ each and ecery such payment shall be immecliatrl}• due and payable and shall bear interest Irom the date cl?ereof until paid at the rate stated in the note secured hereby and together with such interest shall be secured by the lien oE this ` ~forcgage. ~ ~ To permit, commit, or sufEer no waste, impairment or deterioration of said propert}~, or any part thereof, and upon ~ tt~e faili~re of the mortga~ors to keep the buildin~s on said pmpert}• in good rondition of repair, the Association may demand the ~ immediate repair of said bu;ldings or the immediate repayment oE the debt hereb~~ sec:ured, ancl the failure of the mortgagors ~ to compi~~ ~vith said demand of the ~lssociation for a Period of Thirtv (30) d.n•s, shall constitute a breach of this mortgage, and, at the option of the Association, immecliateh mature the entirc amount of principal and interest herebv secured, and the .~lssoceatior, immecliately and without notice; mav institute pmceeclin!,s m foreclose this mort~age and ~ppl~• (or the appointment } of a Recei~~er, as hereinafter providerl. ~ ~ :i. This mortgage contract provides for additional advances ~~•hich 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 shalt be a part of said k note indebtedness t~nder al! the terms of said note and this contract as fully as if a new• such note :ind contract ~~•ere executecl anci ~lelivered. an additional advance agreement ma~• be given and accepted for such advance and provision ma}• be made for ~ different monthh~ payments cnd a diFferent interest rate and other express modifications of the contrac., bi~t in all other respects ihis contract sh:ill remain in full force and effect as to said indebtedness, including all advances. = 6. If am~ of the sums of muney herein referred to be not promptly ancl fullv paid ~~•ithin Thirty (30) days next after = the same severally eome due and payable, or if eaeh and every the stipulations, aorerment, conditions, and covenants of said - promissory note and this deed, or either, are not duly performed, complied «•ith and abideci by, the aggregate sum mentioned - in said promissory note and anv other amount or amotmts added to the mortgage indebtedness under the terms of this mortgage ~ shaU become due and pa}•~ble forthwith or thereafter at the option of the Assa^.iation, as fu11y and completely as if said aggregate sum of money ~vas originally stipulated to be paid on such dav, an~~thing in said promissorv note or herein to the contrarv not- «•ithstanding. ~ ~ ~ ~ To deliver to the Association, on or before ~tarch 1:3th, of each ti-ear, tax receipts evidencing the payment of all la~~•- 'j~ Fully imposed taxes for the prececling calendar vear, to deliver to the Association receipts evidencing the payment of all liens ~ for public impro~ements H•ithin ninety (90) days after the same shall txcome due and payable, and to pay or discharge within ninety (90) da~•s aftcr d~e date, an~• and all govcrnmental levies that may be made on the mort~aQecl property, on this mortgage nr note, or in an~~ other way resulting from the mortgage indebtedness secured bv this mortGa~r. = B~ox237 P~~~ 989 - - . , _ ~ ~ ~ _ _ ~ _ .