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Home My WebLink About1219 at all times peaceably and quietly to eater upon, hold, accupy and c~?joy s:ud I:~nd; that said land 'u free from all encumbrances; . , . . • . that they wiU make such further assuiances to perfect tt?e fee slmpie tiiit~ iu ~u~u iauu au u~c iiss..~~..~.~:~ os ~ required; and that they do hereby fully wamint the Ntle to said land and ~vill defend the same ~g:unst thr. lawful claims of all persons whomsoever. PROVIDED AL\VAl'S that if the Alortgagors shall well and truly pay unto the Association, the indrbtednrss e~~denced by that certain promissory note, of even date herewith, made by the ~lortgagors and pa~•:+ble to thc Asca:iation, in the rrincipal ~um oE FORTY ONE THOUSAND SIX HUNDRED AND NO/100ths-----poll:irs (S 41, 600. 00 ~ ~chich note, together ~~~th interest thereon as themin specifieci, is ~x?yabic in munihiy insiuilu~e~~ts u[ ~nterest ~ayments due on April 13, 1975, May 13, 1975, June 13, 19?5, July 13,19?5 and then THREE HUNDRED FIFTY SIX AND 26/100ths-------------------------"""-'-""""-' _ _ Dullsrs (S 356.26 _ on the 13th day of each month cY~mmencing with AUgruSt 13, 1975 _ _ which payments are to be .~pplied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, comply ~.~ith and abide by each and every the stipulations~ agreements, conditions and covenants of said PromissorV note and this morlgage, Md, including any advances made by the Association to the ~lortgagors, or their succ~csors in title, for any purpose, at anv time before the release and cancellation of this mortgage, but at no time shall this mortgage secure advances on account ~ FORTY ONE THOUSAND of said original note together ~vith such additional advances in a sum in excess oE_____._._.__._.. _ SIX HUNDR ED AND NO /100ths - - - - - - - - - - - - - - ~~~;1~ ~ S 41 ~ 600 . 00 ~ ~ p~~ any a~ivances necessan• - - - - - - - - ~ - - - tu protect the security and cosis, then this deed and the estate herebv created shall cease and be null and void. A\D THE \tORTGAGORS DO hereby cuvenant and agree: 1. To pay all and singular the principal and interest and odier sums of money payable by ~tirtue of said prumissory note :~r~d this mortgage, or either, promptly on the days respeMively ihe same severally come due. 2. To pay all and singular the tazes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind now on said deseribeci property, or that hereafter may be imposecl, s~~fEered, plaeec], levied, or assesseci thereon, or that hereafter may be levieci or assessed upon this ~iortgage, or the indebtedness secured hereby, cach and even•, when due and payable, accord"u~g to law, before they become delinquent, and before any interest attaches or anv penalty is ineurred; and insofar us any thereof is oE record the same shall be promptl~ satisfied and dischargecl of record and the original oEficial document (such is, for instance, ihe tax receipt or the satisfaciion paper officiallv enclorsecl or certified) shall be placed in the hands of said Association as ~tortgagce ~.~thin ten days next after pa~Tnent; and in the event that any thereof is not paid, s~ltisfied and discharp,ed, said Association may at anv time pay ihe same or any part thereoE ~~~thout w.tiving or afFecting any option, lien, equity or right ~ imder or by virtue of ihis ~lortgage, and the [ull 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 r.ite stated in the note sec•umd hereb~• and to~ether with such inter- I ~ i est shall be secured by the lien of this ~tortgage. ~ B. To keep the buildings and all equipment and peraonal property ~ow or herea[ter on said premises covered by this mortgage, E iusured in a sum equal to at least the amount of the mortgage, or an amount su(ficient to comply with any cainsutance require- ~ ment covering the same under the laws of the State o[ Florida, coverinq loss from both fire and storm, making the loss under said ~ policies, each and e~~ery, pa}'able to the Association, as mortgagee, ac its interest may appear, and said insurance shall be in a good z and responsible insurance compat~y satisfactory to said Association, and written by a responsibie local agent satis[actory to said Asso- i ciation: and the policy or policies shall bear a standard mortgage cla~se M•ithout contribution, and, if ehe original principal amount ~ oE the mongage is Fitty Thousand and no?lOl1 Dollars (550,000.00) or in excess thereoE. shal! be held by the Association, and, in ~ the e~-ent any sum of mone~~ becomes payable uuder such policy or policies, the Association shall have the option to recei~~e and apply ~ tt~e same on account of the indebtedness hereby secured, or to permit the mongagors to receive and use it, or any part thereoE, for other purposes, without thereby wai~•ing or impairing any equity, lien. or right under and by ~•irtue of this mortgage, and may ~ E~lace and pay Eor such insurancr, or any part [hereof, without wai.-in~ or afFeccing its option co foreclose, or a~~y right hereunder, ~ a~~d the [ull amount of each and e~~en such pa}Tnent shall be immcdiatrl)' due and payable and shall bear interest from the date ~ ~hereo[ until paid at the rate stateci in the note secured hereby and together wiQi such interest shall be secured by the lien of this ~ ~tortgage. ~ ~f. To permit, commit, or suffer no ~vaste, impairment or detcrior.itiun of wid propert~•, or :iny part thereof, and upon ~ t6e fail~re oE the mort~a~ors to keep the buildings on said pmpert~• in ;ood condition oE repair, the Association may demand the irnmeciiate repair of said bu:ldings or the imme~cliate repavment of the debt ltereUv sec:arc~l, ancl the failure of the mortgagors ~ ro comply with said demand of the Association for a~ericxi ~f Thirty (30) dat~s, shall constitute a breach oE this mortgage, ~ and, at the option of the Association, immediatelv m.~h~re the entire .unount of principal and interest herebv secured, and the ~ :lssociation, immetliately and without notice, mav institute proceedin~s t~ foreclose this mort~a~e and apph• for the appointment nf a Recei~•er, as hereinafter provided. =t S. This mortgage contract provides for additional adva~~ces ~~~hich may be made at the option of the association and ~ cecured bV this mortgage, and it is agreed that in the event of such advances the a:nount may be added to the mortgage debt - and shall increase the unpaid balance of the note hereby seciaed Uy the amount of such advance and shall be a part of sai<1 note indeL•tcdness under all the terms of said note and this eontract as fully as if a new such note and contract ~~•ere executecl _ ..;,cl :',~~~ver~-il. An adt3it~:.nal .~tiV3iiCC :.y.-~e:r~ent ma~• be given and accepted for such advance and provision ma~• be made for - ~lifEerent monthlv pa~~ments snd a diEEerent interest rate and other espress modifications of the contract, but in all other respects ihis contr~ct shall remain in fult force and cffect as to said indc:btedness. incli~ding all ad~•ances. 6. If anv of ihe s~ms of muney herein referrecl to be not promplh~ and fulh• paid ~~~ithin Thirty (30) days next aftrr the same se~•erally come due and payable, or if each and ever~ the stipulations, agrc~c~ment, conditions, and covenants of said `'F promissory note and this deed, or either, are not duly pedormed, complied ~cith and abided by, the aggregate sum mentionecl - in said promissory note and any other amount or amounts added to the mortgage in<lebtedness under the terms of this mortgage shall become due and pa~~able forthwith or thcreafter 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 dav, anvihing in said promisson• note or herein to the contrarv not- ~vit}utanding. :;r 7. To deliver ta the Association, on or before \farch 13th, of each ~~ear, tax receipts evidencing the payment of all la~~•- x~"` fiilly im~osed taxes for the preceding calcndar vear, to deli~•er to the Association receipts evidencing the jrayment of all liens for public improvements w•ithin ninety (90) days after the same shall hec~mc due and payaUle, and to pay or discharge within - ninety (90) da)•s after due date, any and all governmental levies that may be made on the mort~agecl pru~erty, on this mortg:~~e nr note, or in any other ~~•ay msultin~ fmm the mortgage indebtedness secared b~• this mortRa~e. B~~K2~37 FA~E1218 - ~.x ' F" T: _ . . . . . . . ~ , - ~