The URL can be used to link to this page

Home My WebLink About1693 at aU Nmespeaceably and quiedy ta eater upon, hold, occupy and enjoy said land; that snid lamd is free from all encumbrances; tt~at they will maka such fucther assura~s to perfect the fee simple title to said land in the Association as may reasonably be required; and that they do bereby fully warrant the tide to aaid land and will defend the same against the lawful claims of all perso~u H•homsoever. PROVIDED ALWAYS that if the l~iortgagors shall well and truly pay unto the Association, the indebtedness evidenced ~ by that certain pmmissory note, of even date herewitb~ made by the Iltortgagors and payable to the Association, in the principal sum of . THIRTY FOUR THOUSAND AND NO/100ths---------------- ~~~,t~ ~a 34, 000. 00 s which note, together with interest thereon as therein specifietl, is p:?yable in manthly installments of TWO HUNDRED _ ~ s NINETY ONE AND 1?/100ths-------------------------------------------------- : - - . - - - - . _ . _ _ . - - - _ _ _ _ _ - ~ _ ~ _ _ _ _ . - - - - - _ _ . _ . - - - - _ - - - . . . . _ - - z noll~rs (s _ .291. 17 - - ' on the_ 14th -----day of each month rc~mmencing ~vith_ M3!Y_l4,_ 19?5 whieh p~y~en~ 's :ire to be applied, first M interest, and the balance to principal, until said 'wdebtedness is paid in full, and shall perEorm, oomply ~ with and abide by each and every the stipulations, agreements, conditions and covenants of said pmmissory note and this morigage, Md, including any ad~~ances made by the Association to ihe Modgagors, or their successors in tida, for any purpose, at any 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 s~un in excess of___T~RTY__FOUR_THOUSAND___ _ ~ AND NO/100ths-------------------------- .Dollars (a.. 34, 000. 00_), plus any advances necessary , to pmtect the security and costs, then this deed and tbe estate hereby created shall cease and be null and void. 7 t AND THE MORTGAGORS DO hereby cvvenant and agree: _ i 1. To pay all and singtilar ihe principal and interest and other sums of money payable by virtue of said promissory note :~nd this mortgage, or either, promptly on ihe days respectively the same severally come due. 2. To pay all end singulaz the taxes, a~nents, levies, Iiabilities, obligations and incumbrances of every nature and Idnd now on said described property, or that hereafter may be im~, suffered, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon this Mortgage, or the inde tedness secured hereby, cach and every, ~vhen due and payable, :~ccording to law, before they become delinquent, and before any interest attaches or any penalty is incurred; and insofar :u :iny 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 ihe satisfaction paper officially endorsed or certified) shall be placecl in the hands of said Association as !liortgagee within ten days ne.xt after payment; and in the event that any thereof is not Iraid, satisfied and discharged, said Association may at any time pay the same or any part thereof «~thout waiving or affecting any option, lien, equity or right under or by virtue of this ?~iortgage, and the full 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 rate stated in the note secured herebti• and together with such inter- ~ est shall be secured by the lien of this Mortgage. ~ ~ 3. To ktep the buildings and all equipment and petsonal propercy now or ;ureafter on said premisa covered by this mortgage. insured in a sum equal to at least the amount ot the mortgage, or an amount su[ficient to comply with any co-insurance require- ' ment covering the same under the laws o[ [he Seate o[ Florida, covering loss from both fire and storm. making the loss unda said ! policies, each and ecery, payable to the Association, as mottgagee, as its interest may appear, and said insunnce shall be in a gooci ! and responsible insurance company satisfactory eo said Association, and written by a responsible local agent satisfacsory to said Asso- ~ ciation; and the policy or policies shall bear a standard mortgage clause without contribution, and, iE the original prindpal amount k of the mortgage u Fitty Thousand and no/ 100 Dollars (~50,000.00) or in excess chereoE, shall be held by the Association. and, in G e}ie e~~ent any sum oE money becomes payable under such policy or policies, the Association shall have the option to receive and apply ~ the same on account of the indebtedness hereby secured, or to permit the mortgagors to receive and use it, or any part thereoE, for ~ t other purposes, without thereby wajving or impairing any equity, lien, or right under and by vinue of this mortgage, and may ~ place and pay [or such insurance, or any part thereo[, without wai~•ing or a[[ecting its option to foreclose, or any right hereunder, ' and the tull amount of each and every such payment shall be immediately due and payable and shall bear interest from the date ° ~ thereof until paid at the rate stated in the note secured hereby and together with such interest shall be secured by the lien of this ; Dfortgage. ~ 4. To permit, commit, or suffer no waste, impairment or deterioration of said propert~•, or :iny part thereof, and upon ~ the failwe of ihe 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 secureci, :uid the failure of the mortgagors to comply ~vith said demand of the Association for a period of Thirty (30) day~s, shall constitute a breach of this mortgage, and, at the option of the AssociaHon, immediately mature the enGre amount of principal and interest hereby secwed, and the Association, immediately and without notice, may institute proceedinos to foreclose this mortgage and applv for the appointu?ent of a Receiver, as hereinaker pmvided. 5. This mortgage contract provides for additional advances w•hich may be made at the option of the association and ~ secured by this mortgage, and it is agreecl that in the event of such advances the amount may be added to the mortgage debt ~ ~ and shall increase the uniraid 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 j ~ :md delivered. M additional advance agreement may be given and accepted for such advance and provision may be made for ~ different monthly paymenis znd a diffemnt interest rate and other express modifications of the contract, but in all other respects ~ ihis contract sh;iU remain in full force and effect as to said indebtedness, inc~uding all advances. . 6. If any of the sums of money herein referred to be not promptly and fully paid within Thirty (30) days next after ~ the same severally come due and payable, or if each and every the stipulations, agrcement, conditions, and covenants of said ~ promissory note and this deed, or either, aze not duly performed, complied with and abided by, the aggregate sum mentioned - fi~ 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 payable forthwith or thcreafter at the option of the Association, as fully and oompleteIy as if said aggregate ` sum o~ money ~vas originally stipulated to be paid on such day, anything in said promissor,y note or herein to the contrary not- ~ ~ withstanding. - ~ i. To deliver to the Association, on or before ~larch 15th, of each year, tax receipts evideneing the payment of all laK~- ~ ~ fully im~OSed taxes Eor the. prececling calendar year; to deliver to the Association receipts evidencing the payment of all liens 3 ~ for ublic im rovements within nine = p p ty (90) days after the same shall become due. and payable, and to pay or discharge within ~ ninety (90) da~~s after due date, any and all govemmental levies that may be made on the mortgaged pmperty, on this morigage ~ ~r note, or in any other way resulting from the mortgage indebtedness secured by this mortgage. ~ ~ ~ , - - 800K ~eJO PACf 1,691 ~ ~ _ _ - ~ e:~ : ~ ~ t ~ t~ ~ , M ~ . u ' ~L ~ ~ . ~ a ; •