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Home My WebLink About1689 at all times peaceably and quiedy to enter upon, hold, occupy and enjoy said land; that said land is free from all encumbrances; that they will make suc~ further a~uano~ to Pa~~ ~e foe dmple title to said land in the Association as may reasonably be required; and that they do bereby fully warrant the title to said land and will defend the same ugainst the lawful claims of c aU persons whomsoever. ~ PROVIDED ALWAYS that if the Mortgagors shall well And tnily pay unto the Association. the indebtedness evidenoed ~ by that certain pmmiuory note, of even date berewith, made by the Mortgagors and pawable to the Association, in the principal sum oE _THII3TY-FQIIR TIiQIISA1~II2_AND.-I~IQ~-100-.----.----_----------- DaU:?rs (s 34. 000. 00 ' which note, together with interest thereon as therein specified, is pa?~ab]e in monthly instal)ments ot TW4 HUNDRED. _ NINETY-ONE.AND_.17j1QQ------_------.--------------------------------------------. . _ _ ; - - . - - - - - - - - - - - _ _ . _ . _ . - ! - - - - - ~ _ - . - - - Dollars (s _211..17~- ' on the. ._~4~h-------- day of each month commencing ~vith ___May--1-`~.--1~7`.~------------------------- -------------.--~~-which payments ` :ue to be applied, first M interest, and the balance M principal, until said indebtedness is paid in full, and sLall perfoim, aomply with and abide by each and every the stipulations, agreements, conditions and rnvenants of said pmmissory note and this modgage, Md, inclnding any advances made by the Association to the Mortgagors, or their successors in tidc, for any puq~ose, at anv time before the release and cancellation of this mortgage, but at no time shall this mortgage secure advances on account of said original note together with such additional advances in a sum in excess of_THIRTY_-FOUR_THOUSAND ` Dollars (S 34,.QOD .0.0...) plus any adv nces ecessurv j 1~NA.~I4~1fl.Q_------------------------------- - - . - , a n , to protect the security and costs, thei? this deed and the estate hereby created shall cease and be null and void, ~ AND THE riORTGAGORS DO hereby cuvenant and agree: _ 1. To pay all and singular the principal and interresst and other sums of money payable by virtue of said promissory notc ~ .~nd this mortgage, or either, prompdy on tfie days, respectively the same severally come due. 2. To pay all and su~gular the'taxes, assessments. levies, liabilities, obligations and incumbrances of every nature and kind ~ no~v on said described propedy, or that hereafter may be impose~l, suffered, placed, levied, or assessed thereoa, or that hereafter may be levied or assessed upon this :liortgage, or the indebtedness securecl hereb,y, cach and every, when due and payable, uccorcling to la~v, before they become delinquent, and before any interest attaches or any penalty is incurred; and insofar :u any thereof is of record the same shall be promptly satisfied and discharged of record and the original official document (such as, for instance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Associatfon as :Liortgagee wit}un ten days next aEter Frayment; and in ihe event that any thereof is not paid, satisfied and discharged, said Association may at any time pay the same or any part thereof ~vithout waiving or affecting any option, lien, equity or right ~ under or by virtue of this !~tortgage, and the full amount of each and every such payment shall be immediately due andpa yable and shall bear interest from the date thereoE until paid at the rate stated in the note secured hereby and together with such inte~- ~ est shall be secured by the lien of ihis Mortgage. ' 3. To keep the buildings and all equipment and pe~onal property now or hematter on said premises covered by this anorcgage. insured in a sum equal to at least the amount o( the mortgage, or an amount sufficient to mmpiy with any co-insurance require- ment wvering the same under the laws o[ the State oE Florida, covering losc from both Eire and storm, making the loss under said ! policies, each and every, payable to the Association, as mortgagee, as iu interest may appear, and said insurance shall be in a good and responsible insurance company satistactory to said Association, and writeen by a responsible local agent aatis(actory to said Asso- ciation; and the policy or policies shall bear a standard mortgage dause without mntribution, and, if the original principal amount ~ oE the mortgage is Fifty Thousand and no/100 Dollars (;50,000.00) or i~e excess thereof. shall be held by the Association, and, in ~ the event any sum of money becomes payable under such policr or policies, the Association shall have the option to receive and apply f the same on account of the indebtedness hereby secured, or to permit the mortgagots to mceive and use it, or any part thereof, for ~ other purposes, without thereby waiving or impairing any equity, lien, or right under and by virtue o[ this uwrtgage. and may place and pay [or such insurance, or any pan thereot, without waiving or af[ating its option to foreclose, or any right hereunder, and the tull amount of each and every such payment shall be immediaeely due and payable and ahall bear interest from the date thereoE until paid at the rate stated in the note secured hereby and together with such interest shall be secured by the lien of this ~ Afortgage. 4. To permit, commit, or sufEer no waste, impainnent or deteriuration of s:ud propert~-, or any part thereof, and upon ~ the failuro of the mortgagors to keep the buildings on said property in gooci condition of repair, the Association may demand the immediate repair of said bu;ldings or the immediate rejrayment 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 z breach of this mortgage, and, at the option of the Association, immeclistely mature the entire amount of principal and interest hereby secured, and the Association, immediately and without notice, may institute proceeclinas to foreclose this mortgage and applv for the appointment of a Receiver, as hereinafter provided. 5. This mortgage contract provides for additional advances which may be made at ihe option of ihe 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 wipaid balance of the note hereby secured 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 fully as if a new such note and contract w•ere executed :?nd delivered. An additional advance agreement may be given and accepted for such advance and provision may be made for ciifferent monthlv payments and a different interest rate and other e~cpress modifieations of the rnntraet, but in all other respeets ~ ~his contract shall remain in full force and effect as to said indebtedness, including all advances. ts - 6. If any of the sums of muney herein refezred to be not promptly and fullv paid ~vithin Thirty (30) days next after ~ the same severally rnme due and payable, or if each and every the stipulations, agreement, conditions, and rnvenants of said ~ romisso note and this d or either are not d rformed com hed with and abided b the a ate sum mentioned P rY ~ , ~Y Pe • P~ Y, 88~5 ~ in said promissory note and any other amount or amounts added to the mortgage indebtedness under the terms of this mortgage ~ ~ shall become due and pay3ble forthwith or thcreafter at the option of the Association, as fully and completely as if said aggregate ? sum of money ~vas originally stipulated to be paid on such day, anything in said promissory note or herein to the conirary not- 4 ~vithstanding. . F ' i. To deli~•er to the Association, on or before rlarch 15th, of each ~~ear, tax receipts evidencing the payment of all la~~-- ~ ' fully imposed taxes for the preceding ralendar year; to deliver to the Association receipts evidencing the payment of all liens for pub il'c improvements within ninety (90) days after the same shall hecome due and payable, and to pay or discharge within ninety (90) days after due date, any and all governmental levies that may be made on the mortaaged property, on this mortgage ~ ~ ~r note, or in any other way resulting fmm the mortgage indebtedness securecl by this mortga~e. ~r ~ ` ~ 600K 238 PAGE~U81 ~ w ~ ; ~ , - - - - _ - ~m~ ; ~ ~ _ y ~ . ~ ~ ~~M - ; ~ -Y