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HomeMy WebLinkAbout0178 ~ ~ , - { - at all timesp~ oeaWy aad quietly to eater upon, hold, occupy and c~joy siud lrnd; that sald land ~a fre~e from all encumbranoes; chat they w~II maice sucD fuKher aasunnoa a~ perfect tbe fes dmpb title co said land in the Aaaociati~oa as may reasonably be required; and that thry do heseby futly warrutt d~e tItb ~u said land and wiU defend tha sume against the lawful clauns of aU persons whomsoever, PROVIDED ALWAYS that if the Matgagors shall well aad tnily pay unto the Associatiaa~. tLe indebtedness evldenoed by that certain promissory note, of evea date haewitb, mtds by the Mortgagon and payable to the Associatioa, in the pri~cipat TAIRTY SEVEN TAOUSAND SIX HUNDRED AND NO/ 100ths 37 600 00 sum oE Dollars (i - which note, together with intereat thereon as therein specifted, ~s payabk in monchty inscalimena oE T~EE HUNDRED NINE AND 14/100ths------------------------------------------------------------- 309.14 - - - - -----------~Dollsrs (i------ 20th . . September 20,19?5 ~ on ihe------ --------•------day of each mmth commencmg wrth------ µ~_~______-----_which p4ymtnts are to be upplied, first to intereat, and the balanoe to p~incipal, until said indebtedne,ss is paid ia fuD, and aball perform, with and abide by each and every the stip~ations, agreements, conditions and coveoants oE said promiiso~? iwte and moitgag~ And, including any advances made by the Association to the Mortgagors, ~ their suocessors in titW, fo~ any purpose, at any time before the release and cancellation of this mortgage, but at no time s1~all ihis mortgage sec~re advanc~es an avoount oE said original note together with such additional advanccs in a Sum ;n excess of. THIRTY SEVEN THOUSAND _ SIX HUNDRED AND NO/100ths-------------- 37 600.00 (i----- phis any advanc~es necessary to protect the security and costs, tber? tbis deed and tlie ~ttate hereby created shall cease and be null and void. AND THE MORTGAGORS DO hereby cvvenant aad agree: 1. To pay all and singular tbe prIncxxpal and interest and other sums of money payable by virtve of said promissory note ~ and this mortgage. or either. promptly on tbe days respectively the same severally come due. 2. To pay all and singular the tazes, asse~ments, levies, liabilities, obligations and incnmbrances of every nature aad Irind now on said described propecty, or that hereafter may be imposed, suffered, placed, levied, or assessed thereo~n, or that hereafter may be levied or assessed upon this Mortgage, or tbe indebtedness secured hereby, cach and every, when due and payable, aocording to law, before they beoome delinquent, and beEore any interest attaches or anype nalty is inevmed; and insofar as any thereof is of record the same shall be pro~nptly satisfied and discharged of reoord and the orig~inal of~icial doc~m~ent (svch as, for iattance, the ta~c receipt or the ratisfaction paper officially endorsed or cettified) shall be placed in the hands of said Association as Mortgagee within ten days next aker gayment; and i~ che event thac any ~hereof is na paid, satisf~d and discharged, . said Associadon may at any time pay the same or aay pazt thereof without waiving or afEecti~nng any option, lien, equity or rig~t 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 iaterat from the date thereof tmtil paid at the rate stated in the note securecl hereby and together with such inter- } est shall be secured by the liea of this Mortgage. 3. To keep the buildings and all equipment and personal property no~v or hen~after on said premixs aovered by this mortgage, insured in a sum equal to at least the amount of the mortgagr, or an amount sutticient to aomplp ~rith any oo-inuuanot requim~ ment mvering the same under the laws o[ the State of Florida. eovering loss fmm both fire and storm, making the loa under said policies, each and every. payable to the Assocuti~on, as mortgagee, as its interest may appear. and ~aid imurance slull be in a good ' and responsible insunnce company satisEactory co said Association. and writcen br a raponsibk local agent satislactory to said Aseo- I ciation; and the policp or policia shall bear a standard mortgage clause without oontribution, and. iE the original prinapal amount of the morcgage is Fiftr Thousand and no/ I00 Dolla~s (Z50.000.00) or in exce~ thereof. :6all be held by the Association, and, in 1 che event any sum of money becoma payable under such poliry or poliaes, the Association shall have the option to receive and apply the same on account oE the indebtedness hereby secured, or to permit the mortg~gors to reoeive and use it, or anr part thereof. for o~her purposes, without thereby waiving or impairing an' eqqity. lien, or right undtr and br virtue of chis mortg-~ge, and may ~ place and pay for such insurance, or any part thereof, without wai~ing or aEtecting itt option to foredoae, or any right htKeunder. and the full amount oE each and every such payment shall be immediately due and payable and s6a1! bear interat Imm the date ~ chereoE until paid at the nte stated in the note secured hereby and together with such intereat shall be :ecured by the lien oE thi: ~ 1liortgage. ; ~ To ~mit, rnmmit, or suffer no waste, im~ent or deterioration of said property, or any part tbereof, and upon ~ the failuro of the mortgagors to keep the buildings on said property in good condition of repair, the Association may deuiand tbe } t immediate repair of said buildin¢s or the immediate renavment of the debt herebv socured, and tbe -failuie of the mortga¢on = to oomply with said demand of the Association for a period of Thirty (30) days, shall constitute a breach of this mortgage, and, at thc option of the Association, unmediately mature the entire amount of principal and interest hereby secnred, and the Association, immediately and withaut notiee, may institute proceedin;s to forecbse this mortgage and apply for the appointment of a Receiver, as hereinaker provided. 5. Thit -mort~aage contract pmvides for additional advances which may be made at tbe option of the association and g secured by this mortgage, and it is agreed that in ihe evem of such advances the amount may be added M the martgage debt ~ and shall inerease the unpaid balance of the note hereby secured hy the amount of such advan~e 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 oontract w•ere exeruted ~ and delivered. M additional advance agreement may be given and aocepted for such advance and provision may be made for ~ different monthly payments and a different interest rate and other express modifications of tbe contraM, but in all other respects € ihis contract shall remain in fu11 force and effect as to said indebtedness, including all advances, i # 6. If any of the sums of money herein referre~ to be not promptly and fully paid within Thirty (30) days next after the same severally rnme due and payable, or if each and every the stipulations, e°reemeni, conditions, and covenants of said ~ promissory note and this deed, or either, are not duly perfrnmed, aomplied with end abidecl by, the agg~+egate sum mentioned 4 in said prDmissory note and any other amount or amounts added to the mortgage indebtedness uader the terms of this mortgage = shall become due and pay3bk forthwith or thcreafter at the option of the Association, as fuDy and oompletely as if said aggregate ~ ~ sum of money was originally stipu]ated to be paid on snch day, anything in said pr~nissory note or herein to the contrary not- ~ ~ wit}~st~anding. ~ ~ t J 7. To deliver M the Association, on or before March 15th, of each year, tax receipts evideacing the psyment oE all law•- 1 ~ fully im~ taxes for the preceding ~lendar year; to deliver to the As.wciation re~etpts evidencing the payment of all liens ~ for pub 'c immprovements within nu~ety (90) days after the same shaU l~ecome 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 mortgaged property, on this mortgage ~ or note, or in any other way resulting from the mortgage indebtedness secured by ihis mortgage. ~ gocK243 PACf ~ ~ _ 178 r - ~ ~ ~:,h - . ~ ~ ~ '-N ~ _ '