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Home My WebLink About2475 1 r at all timospeaoeably uid quietly to eater upoa, bold, occupy and enjoy said land; that said Lu~d b free froin all encumbrwioes; that tl~ey wil! a~ke ~ch further a~ursnoe~ b pa~feot tbe fes dmpb title ~o satd lswd in the AssociaKon as may rea~oaably be reqwred, apd that t~rey do Lee~eby ftilly wacrant tbs tltb to said land and will defead the same egainat the lawful clainu of aq persais wtwmsoever. PROVIDED ALWAYS t}wt if the Mat agors ahall well aad truly pay unto the Associatlon, tha indebtedness evidenoed by tbat certain promi~y noee. of eveu date ~evvitl~. m~ds by tbe Mortgagors and payuble to the Associatioa, in the principal THIRTY EIGHT THOUSAND FOUR HUNDRED AND_NO/100--~1~~ ~i 38, 400.00 which not~, together with int~ thereon us therein sPoctfiod, is payable in moathly instalhnents oE. ~teTeBt _pSy]~fle11t9 __due_on_October_10,1975L November.10,1975, December 10,1975 and then TAREE HUNDRED FIFTEEN AND ?1/100ths------------------------------------------- - - DoUars (i------ -._31_5~_ZL on the_-----1.Q_~-.------day of each maath coR,n,ci,cing wich-.----_---- Januar,~10~19?6 ---~.._which paymenes are to be u Ejrst M interest, and the b~lance to principal, until said indebtcdness is paid in fdl, a~ sl~all pe~fam, oo~p1y no with and a~by each and every the hons, agroements, coaditions and aovenants af said promissory noee and t]~is moztga8e. Md. inciudLig any advances ma by the Assoc.~iatioa to the Matgagors, ar t6eir suocea.wrs in Htlv, fa anY P~P~ at ac~y time befa+a the rdea~e and cancellation of this mortgage, but at no time s1~all this mortgage secime advanoes aa aocount of said original note together with such addlHot~al advar~ces in a sum in e:oess ~ T~TY EIGHT TS'OUSAND - FOiTR HUNDRED AND NO/100ths----------- 38 400. 00 (s------~-'---------------). ~y aa~ ~~y to protect the sec~rity and costs, thr~ tbis deed and the estate hereby created shaU cease and be nuq and void. AND THE MORTGAGORS DO hereby cvvenant and agree: 1. To pay all and singular the princ~'pa1 snd interest and other sums of ma~ey payable !by virtue of said promissory note and this awitgage, or either, prompdy on the days respectively the same se~ally come due, . 2. To pay all and singular tbe tazes, ass~ments, levies, liabilities. oblig~ti4~s~apd incumbrances of every nature and kind now on said described or that hereafter may be im suffered,,p~a bvied,_ a~'~essed•th~reon, or'that hereaEter may be levied or as~ u~pcm~ this Mortgage, or t6e LNi~~~ se~cured ,I}~~; cach and evei~y, `w~vlted 'due~'end payable, aocording to law, before they beoome delinquent, and before any interest attaches or anypena1ty is inc~med; and intofar as any thereof u of reoord the same shall be promptly satitfied and discharged of reoord and the original of~icial document (such as, for instance, the taa receipt or the satisfaction paper officially endorsed or certified) shall be placed in the bands ~ said Associati~ as Mortgagee within tea days nert after payment; and in the event that any thereof is not paid, sat;siied and discharged, said Associatioa may at any time pay the same or any pazt thereof without waiving or affecting any option, lien, equity or right uader or by virh~e of tbis ~1lortgage, and the fuII aanount of each and every such paytnent shall be immediately dne and payable and shall bear interest from the date thereof until paid at the rate stated in ihe note secured hereby and together with sucb inter- . est shall be sec~ned by the lien of ihis Mortgage. 3. To keep the buildinga and all equipmenc and peisonal property now or hereafter on said premixs oovered by thit mortgage. inaured in a sum equal W at l~ast che amount of the mortgage, or an amount tutticient w aomply with an~ ao-insuranae requira ment oovering the same under tht la~rs of the State of Florida. oovering loas trQm both fur and storm, making t~ lost under :aid policies, rach and evenr. parable to the Association. as mongagee. as its ineerat may appear. and said i~urance shall be in a good and responsible insuranoe eompany satisfaaory co said Association. and written by a raponsible local agent satisfactor~ to said Asw- ciation; and the poliq or policies ahall bear a standard mortgage clause without oontributioa, and. iE the original prindpal amount , ot the mongage is Fifty Thousand and no/100 Dollars (i50.000.00) or in ocaea thereof, s6all be held br the A~ociation, and. in the event any sum oE monep beoomes payable under such policy or golicies, the As~ociation:6all have d~e option to reoeive and apply ' che same on amuune oE che indebcedness herebr secured. or co prrmit the moregag~on co reoeive and use i~ or aay part thereof, for ! other purposes. witlwut t6ereby waiving or impairing any equity, lien. or right under and by virtue ot th~ mortgage, and may ' place and pay for snch insunnce, or any part thereof, ~?ithout waiving or affecting its option w foreclose. or anp right harunder. and the full amount of each and every such payment shall be immediately due and payable and shaU bear interat f~+um the date ~ chereof uncil paid at t!?e nce staced in che noee securod hereby aad togecher with auch interat shall be secund by [he lien of this ~ Mortgage. ~ 9. Toperm~ t, oommit, or suffer no waste, impai~ment or deterioration of said property, or any part tbereof, and upon ~ the failuro of the mortgagors to keep the buildings an said groperty in good condition of repair, ihe As.sociation may demand the ~ immediate repair of said buildings or the immediate rep~ayment of the debt hereby secured, and the failure of iLe mortgagors to comply with said demand of the As.9ociation for a Period of ThiKy (30) days, shall rnnstitnte a breach of this mortgage, ~ and, at thc option of the Association, immediately mature the entire amo~'nlt of principal and interest hereby secured, and the ~ Association, immediately and without notice, may institute proceedinas to forecbse this mortgage and applv for the appomtment ~ oE a Receiver, as hereinafter provided. ~ , 5. This matgage contract pravides for additional advances which may be made at the option of the association and ~ secured by this awrtgage~ and it is agreed that in the ~event of such advances tbe amount may be added to the mortgage debt and shaII increase tbe unpaid bajance of the note hereby sectmed by the amo~mt of such advance and shall be a part of said note indebtedness under all the terms of said note and thi4 c~tract as fiilly as if a new such note and oontract were executed and delivered. M additional advance agreement may be given and accepted for such advanoe ~nd provition may be made for different monthly payments and a different interest rate and otherexpr~s modifications of the ooniract, but in all other resperts ~ ihis contract shall remain in full force and effert as to said indebtedaess, including all advances. t - s 6. If any of ihe sums of money berein referred to be ~t pr~ptly and fiilly paid within Thirty (30) days nezt aker ~ the same severalty come due and payable, or if each and every the stipulations, agreecnent, conditions, and covenants of said ' promissory note and this deec~ or either, are not duly perfarmed, oomplied with and abided by, the aggregate som meationed ~ in said promissory note and any other amount or amonnts added to tbe mortgage indebtedness under ihe terms of this mortgage ; shall become due and payable forthwith or thc~+eafter at the option of the Association, as fuDy and oompletely as if said aggregate ~ wit}utandin ~ wa9 originaily stipulated to be paid on such daY, anYthing in said promissory note or herein to the contrary not- z 8- 7. To deliver to the Assoc;iation, on or before March 15th, of each ye~ar, tax reoeipts evideacing tl~e payment of all law•- k fully imposed taxes for the preceding calendur year; to deliver to the A.uociation receipts evidencing the paymeat ~.aD liens for pubLc unprovements within ninely (90) days after the same shall heo~me dne and payable, and to pay.o! d~scl~e wiihin ~ ninety (90) davs after due date, any and all governmental levies that may be made on the modgaged property, on this mortgage or note, or in any other way resulting from the mortgage indebtedness secured by this mortgage. ti g~ 243 P~24 75 ~ _ _ . _ . _ :.c. - _ -~a