Loading...
HomeMy WebLinkAbout2047 . • at all times peuceably and quiedy to enter upon, hold, ocrupy and enjoy suid land; that said land is free fcom all encumbrances; that they will make such further assuranoea bo perfect the fee simpie title to said land in the Association as may reasonably be required; and that the~? do hereby fully warrant tha tide M said land and will defend the same against the luwful claims of ~ all persons whomsoever, PROVlDED ALWAYS that if the I?iortgagors shaU well and tnily pay unto the Association, the indebtedness evidenced by that cectain promissory note, of even date berewith, made by the riortgagors And payable to the Association, in the principal TWENTY SIX THOUSAND AND NO/100ths------------------~~~a~ 26, 000:00 : sum of - - - - - - - - - . - (a - ~vhich note, together with interest thereon as therein sPecified, is p:ryable in manthly installments of TWO ~NDRED _ ' ; EIGHTEEN AND 20/100ths-----------------------------------------------------"- 3 - - - - - - - - - - - - - - - . ~ ; F ~ . . ' . _ _ _ . _ _ _ . " . ~ f _ . 3 . Dollars (s 218. 20 ' - - - - - - - - 15th May 15,19?5 ` on the. _ ------day of each month commencing ~vith. - ---------------------------------------------which payments ' :u~e to be :ipplied, first to interest, and the balance to principal, until said indebtedness is paid in fiill, and shall perform, oomply with and abide by each and every the stipulations, agreements, conditions and covenants of said pmmissory note and thu mortgage, Md, including any advances made by the Association to the Mortgagors, or their successors in titla, for any purpose, ; at anv time before the release and cancellation of this mortgage, but at no time shall this mortgage secure advanc~s on account ~ TWENTY SIX THOUSAND of said original note together ~vith such additional advances in a sum in ea~cess of___________________________________-_-~--~_--------------- - Dollars 26, OOQAO- AND NO/100ths-------------------------- Plus any ad~~ances necessary - to protect the se~curity and costs. then this deed and the estate hereby created shall cease and be null and void. AND THE 1110RTGAGORS DO hereby cuvenani and agree: 1. To pay all and singular the principal and interest and other sums of money payable by virtue of said promissory note ~ :~nd this mortgage, or either, promptly on the days respectively the same severally come due. ~ 2. To pay a11 and singular ihe taxes, asse~ments, levies, liabilities, obligations and incumbrances of every nature and kind ~ no~v on said described property, or that hereafter may be im~, suffered, placed, levied, or assesseci thereon, or that hereafter ~ may be levied or ass~sed upon ihis ~4ortgage, or the inde tedness securecl hereby, cach and every, when due and payable, :~cconling to la~v, beEore they become delinquent, and before any interest attaches or any penalty is incurred; and insofar .u ~ .iny thereof is of record the same sl~all be prompdy s:~tisfied and discharged of reoocd and the original official document (such Y as, for icutance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said s Association as ~iortgagee within ten days next after pa}'inent; and in the 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 ~4ortgage, and the full amount of each and every such payment shall be immecliately due andpa yable ~ and shall bear interest from thc date thereof until paid at the rate stated in the note secured hereb~• and together with such inter- ? est shall be secored by the lien of this Mortgage. ~ 3. To keep the buildings and all equipment and personal property now or hereaiter on uid premises coveted by this mortgage. ~ insured in a sum equal to at leut the amount o( the mottgage, or an amount su[[icient to rnmplr with any to-insurance requite- ~ ment covering the same under the lawa of the Seate of Florida, covering loss from both fire and storm, making tht loas under said ; policies, each and every, payable to the Association, as mortgagee. aa its interest may appeaz, and said insurance shall be in a g~ood and responsible insurance company satisfactory eo said Association, and written by a responsible local agent satisEactory to said Asso- i ciation; and the poliry or policies shall bear a standard mortgage dause without rnntribution, and, iE the original printipai amount ! of ehe mortgage u Fifty Thousand and no f 100 Dollars (;50,000.00) or in excesa thereof, shall be held by the Association, and, in ' the e~ent any sum of money becomes payable under such policy or policies, the Association shall have the option to receive and apply ; ` the same on account oE the indebtedness hereby secured, or to permit che mortgagon to receive and use it, or any part thereof. for ` ~ ocher purposes, without thereby waiving or impairing anr equity, lien, or right under and by vinue of this mor[gage, and may ~ ~ place and pay for such insurance, or any t~art thereoE, without waiving or at[ecting its option to foreclose, or any right hereunder. and the Eull amount of each and e~•ery such payment shall be immediately due and payable and shalt bear interest from the date ~ chereo[ until paid ac the rate stated in the note secured hereby and together with such interest shall be secured by the lien oE this ~ rtortgage. ~ . ~ To permit, commit, or suEfer no waste, impairment or deterioration of said propert}', or :my part thereof, and upon ~ ttie failuro of the mortgagors to keep the buildings on said property in good condition of repair, the Association may demand the immediate repair of said bu:ldings or the immediate reirayment of the debt hereby sec~recl, and the failure of the mortgagors to comply ~vith said demand of the Assocu~tion for a period of Thirty (30) days, shall rnnstitute a breach of this mortgage, ~ and, at thc option of the Association, immediately mature the entire amount of principal and interest hereby secured, and the , ~ Association, immediately and ~vithout norice, may institute prnceedinas to foreclose this mortgage and applv for the appointment r of a Recei~•er, as hereinafter provide~i. ~ 5. 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 addecl to ihe mortgage debt 5 and shall inerease the unpaid balance of the note hereby secured by the amount of such advance and shall be a part of said ti 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 , and delivered. An aidditional advance agreement may be given and accepted (or such advance and provision may be made for ~ different monthiv payments and a different interest rate and other express modifications of the contract, but in all other respects ihis contr.ict sluzll remain in full force and effect as to said indebteciness, including all advanees. r 6. If any of the sums of muney herein referred to be not promptly and fulh~ paid ~vithin Thirty (30) days next after ; the same severally come due and payable, or if each and every the stipulations, aoreement, conditions, and rnvenants of said promissory note and this deed, or either, are not duly perforrued, complied ~vith and abided by, the aggregate sum mentioned y` 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 thereafter at the oprion 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 contrarv not- ~ ~vithstanding. ~ ` ~ 7. To deliver to the Association, on or before ~iarch _ 15th, of each yeur, tax receipts evidencing the payment of all la~~~- ~ fully imposed taxes for the prececi~ng calendar year; to deliver to the Association receipts evidencing the payment of all liens ~ for pub~ic 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 mort~aged property, on this mortgage ~r note, or in any other way resulting from the mortgage indebtedness secured by this mortgage. ~ ~ Bo~K238 PAGE2O44 r~ . . . , ~ ~~~mKr s _ - g^ d x ? ~ ,7.~,'„~ ; _ ~ _ .a ~~~r.~- ~ _ ~ .