Loading...
HomeMy WebLinkAbout2774 at all times peaceably su?d quiedy to enter upon~ hold, occupy and enjoy said land; that s.1id land 'u fr~e from all encumbrances; that they will make such further assurences to perfoet the fee simPle title to said land in the Association as may reasonably be required; and that they do hereby fully warrant the tida to said Is~~~d nnd will defend the sume against the lawful claims of all Ix rsons whamsoevcr. PROVIDED ALWAYS thut if t1?e 111ort gagors shap well And truly pay unto the Assoriation, the indebteclness evidenced by that certain promissory note, of even dato herewith~ made by the 1lfortgagors and payabie to the Association, in the princi~k~l ~ , sum oE _ FNE THOUSAND AND NO/100ths------- . Dollars s 5 000.00 ~ ~~~hich note~ together with interest ther~on as therein specified, is p:ryabie in monthly installments of ONE HUNDRED FIVE AND O1/100ths----------------------------------------------------------- - - - . - Dollars (s _ .105. O1 - . _ . on the ..20~-_ . day of each month commencing with May 20, 1975 __.µ,~h yments _ - - perfo are to be applied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, comply with and abide by each and every the stipulations, agreements, conditions and rnvenants of said pmmissory note and this ; nwrtgage, And, including any advances made by the Association to the Modgagors, or their succes.wrs in tit1C, for any putpose, ; at anv time before ihe release and cancellation of this mortgage, but at no time shall thes mortgage secure advances on account f of said original note together ~vith such additional advances in a sum in escess of.. FIVE__THOUSAND AND NO/ 100 : 5 000.00 - - - - . Dollars (S ' plus any advances necessary ' to protect the security and costs, then this deecl and the estate hereby created shall cease and .be null and void. A.'VD THE AfORTGAGORS DO hereby cvvenant and agree: 1. To pay all and singular the principal and interest and odier stuns of money psyable by virtue of said promissory nute :?ncl this mortgage, or either, promptly on the days respectively the same severally come due. 2. To pay all and singular the taaes, assessments, levies, liabilities, obligations and incumbrances of every nature and ldnd ' now on said described prnperty, or that hereafter may be imposed, suffered, placed, levied, or assessed ihereon, or that hereafter may be levied or assessed upon this 111ortgage, or the indebtedness serurc~cl hereby, each and every, ~vhen due and payable, ;~ccorcling to law, before they become delinquent, and before any interest attaches or any penalty is ineurred; and iruofar as any thereof is of record the same shall be promptly satisfied and dischargecl of record and the original official document (such 1s, for instance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Association as \fortgagee within ten da~~s next after payment; and in the event that any thereof is not paid, satisfied and discharged, said Association may at any time pa~~ the same or any part thereof ~vithout waiving or afEecting any option, lien, equity or right iinder or by virtue of this \tortgage, and the full amount of each and every such payment shall be immediatcly due andpa yable ~u?d shall bear interest from ihe date thereof until paid at the rate stated in the note secureci hereb~~ and together with such inter- est shall be securecl by the lien of ihis btortgage. 3. To keep the buildings and all equipment ancl personal property now or hereatter on said premisa covered by this mortgage, insured in a sum equal to at least the amount oE the mortgage, or an amount suf[icient to comply with any co-insurance require- ment covering the same under the laws of the Staee of Florida, covering loss trom both fire and storm, making the loas under said policies, each and ea•ery, papable to the Associatiou, as mortgagee, ac iu iuterest may appear, and said insurance shall be in a good and responsible insurance company satisfactory ta said Association, and written by a responsible local agent satis[actory to said Asso- ciation; and the policy or policies st~all bear a standard mortgage dause without contribution, and, if the original principal amount of ehe moregage is FiE[y Thousand-and no/100 Dollars (;50.000.00) or in excess thereof, shall be held by the Association, and, in tt~e 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 o[ the indebtedness hereby secured, or to permit the moregagors to receive and use it, or any part thereof. for other purposc~s, without thereby waicing or impairing any equity, lien, or right under and by virtue oi this mortgage, and may place and pay [or such insurance, or any part thereof, without waiving or affecting its option to [oreclose, or any right hereunder. and the [ull amount of each and every such payment shall be immediately due and payable and shall bear interest frum the date thereof until paid at the rate stated in the note secured hemby and together with suth intereat shall be secured by the lien of this ~f ortgage. ~ 4. To permit, commit, or suffer no waste, impairment or deterioration of ~id propertJ-, or any part thereof, and upon ! the failuro of the mortgagors to keep the buildinRs on said property in good condition of repair, the Association may demand the ± ~ immediate repair of said bu:ldings or the immediate re~xiyment of the debt hcreb~~ sec:urecl, and the failure of the mortgagors ' ' to mmply ~vith said demand of the Association for a periai of Thirty (30) da~~s, shall constitute a breach of this mortgage, } ! and, at the option of the Association, immediately mature the entire amount of princijxil and interest herebv secured, and the ~ Association, immediately and without notice, may insHtute proceedin;s to foreclose this mortgage and appl~~ for the appointment ' ~ of a Receiver, as hereinafter provided. ' I 5. This mortgage contract pmvides for addition.?1 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 inerease the unpaid 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 ~~-ere execateci 'r and delivered. An additional advance agreement may be given and accepte-~l for such advance and provision may be made for different monthlv payments and a different interest rate and other express modifications of the contract, but in all other respects ihis cantract shall remain in foll force and efEect as to said indebteclness, including all advances. 6. If any of the sums of muney herein referred to be not promptly and fully paid ~~•ithin Thirty (30) days next after the same sever.iUy come due and payable, or if each and every the stipulations, aoreement, conditions, and covenants of said promissory note and this deed, or either~ are not duly performecl, complied with and abided by, ihe aggregate sum mentioned in said promissory note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage ~ shall become due and payable forthwith or thcreafter at ihe opNon of the Association, as fully and completely as if said aggregate sum of money was originally stipulated to be paid on such dav, anything in said promissory note on c~rein to the contrarv not- ` withstanding. . . i. To deliver to the Association, on or before ~iarch 15th, of each }•ear, tax receipts evidencing the payment of all la~~•- ; fully imposed taxes for the prececling calenclar vear; to deliver to the Association receipts evidencing the payment of all liens for public improvements ~~thin ninety (90) days after the same shall lxxomc due and payable, and to ~ray or discharge within ' ninety (90) da~~s after due date, any and all govemmental levies that may be made on the mortgaged property, on this mortgage ~ or note, or in any other way msulting from the mortgage indebtedness secured by this mortgage. ~ " 800K PdCf ~ ` ° ~ 2~8 _ ~ sl~~~`'.,~"a-.'~ '1' '~s ~ -"-iv _ - ~ fi~ ~ w ~ . _r . .