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Home My WebLink About1440 ~ ; t , t e i 2 at all timesp~?ceably aad quietly M eat~ upoq hold, occupy and enjoy said lx~d; that said Iand is free from all encumbrances; ~ iLat il~~ witl u~ sui:h furth~a' assttrnnccs to pezfeet the fee slmple t+tle to snid la~ul io the Accocintion ae mav reawnably be required; and that they do bereby fuliy warrant tLe title to said lund and will defend the same against the ~awful claims of all petso[u whomso@ver, PROVIDED ALWAYS that iE the I~4ortgagors shall well and tnily pay unto the AssociaUon, the indebtedness evide~ed by that certain proa~issory note, of rve~? date herewith, made by the Mortgagors and paw~ble to the Association, in the principat FIFTY ONE THOUSAND AND NO/100ths------------------ 51 000.00 sum of - - - _ - . - Dollars (i ~ which note, together with interest thereon as therein specified, is payable in monthly installments of iIItCreSt p8YlrieIItB due on June_ 12, ~ 9?5, _ July _ 12,1975, _ August 12,19?5, September 12,19?5 and then _ _ . . ' ""r,_. _ ' ' ~ FOUR HUNDRED rTII~TETEEN AND 31/100ths----------------------------------'' . - _ - - - - - - - - _ . . - - _ - - - - , - -----._.Dollars (s-----419._31---.- # - --~iatn-------- - _ - - - - . October 12,19?5 ~ on the.__.._ ~----day of each m~th commencing with_-- ------------------------------------_--_-----------------------------which PaYments .ue to be applied, first to interest, and the balance to principal, unW said indehtedness is p~id in full, and sball perfornoy oom with and abide by each and every the stipulations, agreements, rnnditions and covenants of said promissory note and ' mortgage, And, including any advances made by the Association to the Mortgagors, or their successors in titl~, for any purpoae, at any time before the release and cancellation of this morigage, but at no time shall this moctgage secure advances on account of said original note together with such additional advances in a sum in exc~ of.~FIFTY_ ONE_ THOUSAND .AND_N011QOths-_---_--------_ --------_.Dollars (3----51~ 000._00 plus any advances necessary ; to pmtect the security and costs, then this deed and the estate hereby created shall cease and be null and void. ; AND THE MORTGACORS DO hereby cvvenant and_agree: • 1. To pay all and singular the principal and interest and other sums of money payable by vidue of said promis,sory note - .~nd this mortgage, or either, promptly on the days respectively the same severally come due. ; 2. To pay all and singular the taxes, assessuunents, levies, liabilities, obligations and incumbranc~cs of every nature and ldnd now on said described prnperty, or that herEafter may be imposed, suffered, placed, levied, or assessed thereon, or that hereafter ; may be levied or assessed npon this Mortgage, or the indebt~iness securecl hereby, cach and every, when due and payable, ~ sn uccording to law, before they beeome delinquent, and before any interest attaches or siny nalty is incuaed; and insofar as anv thereof is of record the same shall be pmmptly satisfied and discharged of re~cord and original official document (such ~s, for instance, the tax receipt or the satisfaction pa?per officially endorsed or certiEied ) shail be placed in the hands of said Association as Aiortgagee within ten days next after payment; 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 ri~t under or by virtue of this !liortgage, and the full amount of each and every such payment shall be immediately due andpa ya le and shall beaz interest from the date thereoE nntil paid at ihe rate stated in the note secured hereb~• and together with such inter- est shall be secured by the lien of this Mortgage, f 3. To keep the buildings and all equipmenc and personal propeny now or hereafter on said premises ooveted br this mortgage. ? ~nsurea in a sum equai to a[ iease ine amoune oi uie mongage, or an auwuna suiiicicua w cvm~ir wriw au~ ~zriauura~u:c ecyuiar ment oovering the same under the laws of the State oE Florida, oovering loas [rom both fire and atorm. making the loss under said ; policies, each and every, payable to the Ass«iation, as mortgagee, as its inlerest may appear, and said insunnce shall be in a good ` and responsible insurance company satis[aaory to said Association, and written by a responsible local agent satisfactory to uid Asso- ciation; and the policy or policies shall bear a sta~~dard mongage dause without contribntion. and, iE the original principal amount o( the mortgage is Fifty Thouund and no/100 Dollars (s50,000.00) or in excess theteof, shall be held by the Assoaation, and, ia the event any sum of money becomes payable under such policy or policies, the Association shall have the option to receive and apply che same on acoount of the indebcednas herebr secured, or to permic the arortgagors to receive and use it, or any part theimf. for other purposes, without thereby waiving or impairing any equity, lien, or right under and by virtue of thi~ mortgage. and mar place and pay for such insurance, or any part thereof, without waiving or aftecting its option to forecloae, or anr right hereunder. and the full amount oE each and every such payment shall be immediately due and payable and shall bear interest from the date ~ thereof unW paid at the rate stated in the note secured hereby and together with such interest shall be secured by the lien of this ± ~iortgage. 4. To permit, commit, or suffer no waste, impairment or deterioration of said propert~•, or any part thereof, and upon : the 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 buildings or the immediate repayment of the debt hereby secured, and the failure of the modgagors to comply ~vith said demand of the Association for a period of Thirty (30) day5, sha11 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 ~ ~ssociation, immediatety and without notice, may_ institute proceeciin;s m for~:ose this mortgage and app3v far the appou~tment of a Receiver, as hereinafter providerl. s E 5. This mortgage contraet provides for additional advances which may be made at the option of the association and secured by this mortgage, and it is agreed that in the event of snch advances the amount may be added to the mortgage debt and shall increase the unpaid balanoe of the note hereby secured by the amount oE such advance and shall be a part of said - note indebtedness under all the terms of said note and this contraM su fully as if a new such note and contraM w•ere executed and delivered. M additional advance agreement may be given and accepted for such advance and provision may be made for _ different monthlv payments and a difEerent interest rate and other express modifications of the contract, but in all other respects i ihis contract shall remain in full force and effect as to said indebtedness, including all advances. ~ 6. If any of the sums of mcmey 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, agreement, conditions, and covenants of said promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioaed in said promissory note and any other amount or amaunts added to the modgage indebtedness under the terms of this mortgage shall become due and payable forthwith or thcreafter at the option of the Association, as fuDy and comp]etely as if said aggregate - sum of money aas originally stipulated to be paid on such day, anything in said promissory note or herein to the contrary not- E withstanding. ~ ~ 7. To deliver to the Association, on or before A~arch 13th, of each ye~ar, tax receipts evidencing the payment of all law~- fully im~ taxes for the prececling calendar year; to deliver to the Association receipts evidencing the payment of aII liens ' for pub '~mprovements within ninety (90) days after the same shall hecome due and payable, and to pay or discharge within M ninety (90) days after due date, any and a11 govemmental levies that may be mad~ on the mortgaged property, on this mortgage ~ or note, or in any other way ms~ilting from the mortgage indebtedness secureci by this mortgage. a ~ - ~ BooK239 PACE~436 ~ - - ~ _ _ _ . _ _ _ ~