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HomeMy WebLinkAbout2463 , ~ ' , ~ . . at all Hraespeaoeably ~nd quietly to entar upm, hoW, oocupy and cnjoy swd land; thst said land u free from aU encumbrances; thatthey wiD maks such futthar a~ur~noe: ~o pafed tbs fes dmpb title to said land in the A:sociatbn as may m,asonably be cequired; and tb~t they do bereby fuUy warrant die ttt~e ~o =aid land and wiU defend the same against the Iawful claims of all persons whomaoever. PROVIDSD ALWAYS that if tbe Mat ag gors truly pay ~ato the Associatlo~. the inda~tedness evidenoed by t~t cedain pcomitsocy nobe, of cveu date bei'ewI y t6e Mortgagors and payable to the Associatioa, in the pri~cipal sumoET~~'1'_~~~''_4V~-'~'~iOIISAAND_A11iD.lISJ/lIIQ---------.---_-.--.-_---- .Dollars (~34~000..00 which aote, together with interest therea~ as thcKetn specified, is payable in monthh? instaliments of TWO HUNDRED SEVENTY-NINE AND 53f 100--_-.--_--------------------------_------------_----.---_-_ _ - - - - -----------Dollars (Z...2.7.9._~3------- 12th October 12, 1975 on the_-•--- --------------_dAy of each manth commencing with--.--- ---------------------_--_-----_____.---------.____--------~_.which payments are to be u~~, fitst to intered, and the b~Isnce to principal. until said indebtedness is paid in fuU, and sball periorm, with and a~ide by each and every the stipnlario~ns, agreements, oonditions and coveaants of sa,d ~ note and ~~~80. including any advances made by the Assoclation to the Moitgagors, or their successors in tidv, for any ptupose, at any time before the release and cancellation of this mortgage, but ac no time s1~all th;s mortgage secure advanoes account of said original note together with such additi~al advances in a sum in excess of___T__H~TY-FOUR THOUSAND AND NO/100------------------------------ 34,000.00 ca------ Plus any advances necessary to protect the securIty and costs, then this deed az?d ihe estate hereby created shall cease and be null and v~oid. AND THE MORI~GAGORS DO hereby cvveaant and agr~ee: . . l. To pay all and smgular the princi'pal and int~ and other sums of money paj+able by vjrtue of said promissory note and this maatgage, or either, promptly on tbe days respectively the same severaUy come ~ due, . . ,;i. - . 2. To pay a11 and singular the ta~ces, asse~ments, kvies, liabilities,;obligations and incumbr~ux.~es of ev~y aature and kind now on said descnibed psnperty, or that hereafter tnay be im~, suffered, placed, le~+ied, or as~ssed theccon, or that hereafter may be levicd or as9essed upon thi4 Mortgages, or tl~e ind ess securecl hereby, cach and- every, when due aad payabk. aocording to 1aw, before tbey become deWiquent, and before any interest attaches or any penalty is incuaed; and. insofar as any thereof is of record the same shall be pbompdy satisfied and ditcharged of record and the original official documeat (such as, for iastance, the t~ receipt or the satisfaction paper officially enclatsed or certified) shall be placed in the Lands of said Assoc.~iation as ~1+tortgagee within ten days neat after payment; and in the e~vent that any thereof is not paid, satisfied and discharged, said Associatioa may at any time pay the same or any part thereof without waiving or affecting any option, lien, equity or ri~t under or by virtue of this :liortgage, and the fiill . amount of esch and every such payment shall be immediately due andpa ya le and shall bear interest from the date ther~.~of until paid at the rate stated in the note serureci 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 penon~l proprrty nowr or hereafter on said premisa covered by this mortgage. insured in a sum cqual to at least [he amount oE che mortgage, or an amount autficient to mmply with anr oo-inaurance reqniro- ment o~vering the same uader the laws of che Stace of Florida. covering loss irom both fur and storm, making the loa under said policies. each and evrry. payable to the Association. u mortgagce. u iu interest may appear. md said insunnae s6a1t be in a good a~d resporuible iasunnct company satisfaccory to said Association, and writcen bp a raponsible loul agent satisfactorp to said Asao- ciation; and the polity or policia ahail bear a standard mottgage dause without rnnttibution. and, if t6e original prinapal amouat of che mongage is FiEty Thousand and no/ 100 Dollan (=50.000.00) or in excas thenof. s6a11 be hdd by the Assodacion, and, in che event any sum oE money beoomea payable under such poliq or poliaes. the Assodation s6a11 have the opaon to naive and apply the same on acaount oE the uidebtedneaa herehy securcd. or to pesmit the mongag~ois to reoeive and use it, or an' part thacof, for ~ ' o[her purposes, without thereby waiving or impairing any equitr, lien. or right under and by virtue of this mortgagr, and may ~ place and pay for such insunnce, or any part thereof, without ~vaiving or affecting its option to toredase, or any right hsreunder. and the full amount oE each and every such pa~nnent s6all be immediately due and payabk and shall bear interest Emm the date ~ chereoE until paid at the nte scaced in che noce saured hereby and together with such interat shall be secured by the lien of this Mortgage. ~ 4. To permit, commii, or suffer no waste, impairrnent or deterioration of said pmperty, or aay part thereof, and upon ~ the failuro of the mortgagors to keep the buildings on said property in good condition of repair, the Association may dea~and the immediate repair of said buildings or the immediate repe?yment of ihe debt hereby svcured, and the failure of the mortgagors ~ to complY with said demand of the Association for a period of Thirty (30). days. shall constitute a breach of tlris mortgage, and, at thc option of the Association, immediately mature the entire amount of principal and interest hereby secured, and the Association, immediately and without notice. may institute pmcxedin;s to foreclose this mortgage and applv for ihe appointment of a Receiver, az hereinaher provided. 5. This mortgage contract provides for additional advances which may be made at the option of the asaociation and ~ sec~red by thic mortgage, and it is agreed that in the eveat of such advances the annount may be added to the mortgage debt and shall increase the unpaid balance of the note hereby sec~ired by the amo~mt of such advance and shall be a part of said ~ note indebtedness onder all the terms of said note and this contraM as fully as if a new such note and contract were executed and delivered. M additional advance agreement may be given and accepted for such advance and pmvision may be made for ~ different monthly payments and a different interest rate and other express modifications of tl~e oontract, but in all other respects ~ ihis contract shall remain in full forae and effect as to said indebtedness, including all advances. ; 8. If any of the sums of money herein referred to be not promptly and f~illy paid within Thirty (30) days next after ~ the same severally come due and payable, or if each and every the stipulations, so eement, conditions, and covenants of said ~ promissory note and this deed, or either, are not duly performed, complied with and abided by, i~ aggregate sum meationed ~ in said promissory note and any other amount or amounts added to tbe mortgage indebtedness ~mder the terms of this mortgage # sha11 become due and payable fort6with or thcreaEter at the option of the Association, as fiilly and oompletely as if said aggregate ~ ~a ney was originally stipulated b be paid on such day, anything in said promissory note or herein to the ca~trary not- & 7. To deliver M the Association, on or before riarch 15th, of each ye~ar, tas receipts evi~lencing the payment of all Iavr- fully im taxes for the preceding calendar year; to deliver to the Association receipts evideacing the payment of ail liens for pub ' improvemet~ts within ninety (90) days after the same shall beoome due and payable, and to pay or discharge within ~ ninety (90) days after due date, any and all govemmental levies tLat may be made on the mortgaged property, on this mortgage ~ or note, or in any other way resulting from the mortgage indeb#edness secured by this mortgage. ~ ~ g~243 P~2463 ~ ti ,~T . . - _ _.:ay'.=.w _ _ t _..y~,~~ ' ~9~ ;P "'tCxi1 ' C'~~ . .