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Home My WebLink About0962 • ~ , at all times peac~bly and quietly to eatec upon, hold, occupy and enjoy said lund; that said Iand is frce from all encumbranoes; that they will malce such futther astunai?oe~ to perf'eot tbe fee sLnple title to said land in the As.wciatioa as may reasonably be required; and that they do hereby fully warrant the dtle to said land and ~vill defend the sume against the luwful claims of all persons ~vhomsoever, PROVIDED ALWAYS that if the I~Zortgagors shaU well and tnily pay unto the Association, the iadebted~ess evidenced by that certain pmmissory notc, of eve~ cLte herewith, made by the Mortgagors und payable to the Association, in the principal oE _.k'QUR_~~iQTJS,~?1~I1~_ TVSf4. HLIiYDRFD..AN~ N01.10.Oths_---.----_---noll~rs (i 4,.200. OQ whic6 note, together with interest thereon as therein specified, is Ixryable in monthly installments of FIFTY.-FOLIR AND 35/100ths------------------------------------------------------------------ _ _ - - Dollars (s _.54. 35_ on the-----20th- ------day of each month commencing ~vith. OCtobel` 20,_._1975___----------- ----W?hich PaYments are to be applied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perfoim, oo~n 0o n with and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and mortgage, Md, including any advances made by the Assaciation to the Modgagors, or their successors in tit1C. f~ any purpose. at any time before the release and canceqation of this mortgage, but at no time shall this mortgage secure advances on account of said original note together with such additional advances in a sum in excess of__~QV~__~Q~a~~~~_~Q HUNDRED AND NO/100ths------------------~?t)rn ~s 4._200. 00 1 ~l~Le A~y A~ivA~e n~~ry - : - - , to protect the security and costs, then this deed and the estate hereby created shall cease and be null and void. ~ AND THE \iORTGAGORS DO hereby cvvenant and agree: ~ 1. To gay all and singular the principal and interest and other sums of money payable by virtue of said promiccory note and this modgage. or either, promptly on the days respectively the same severally come due. ~ 2. To pay all and singulaz the taxes, asse~ments, levies, liabitities. obligationc and incumbrances of every nature and ldnd now on ~aid described propesty, or that hereafter may be unposed, suffered, placed, levied, or assessed therean, or that hereafter may be levied or assessed upon this Mortgage, or the indebtedness secured hereby, cach and every, when due and payable, accorrling to law, before they become delinquent, and before any interest attaches or :uiy penalty is incurred; and 'uuofar :u any thereof is of record the same shall be promptly satisfied and discharged of record and the origiaal official document (such ~s, for instance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of raid Association as ~tortgagee within ten days next aker Irayment; 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, liea, equity or rig~t under or by virtue of this !ltortgage, and the full amount of each and every such payment shall be immediately due andpa yable and shall bear interest from the date thereof until paid at the rate stated in the note sec~~recl hereb~ and together with such inter- est shall be secureci by the lien of this biortgage. . 3. To keep the buildings and all equipmenc and personal prop~rty now or hereafter on said premises oovered by this mortgage, insured in a sum equal to at least the amount of [he uangage. or an amount sutficient w mmplr with any co-insutant~ require- ment covering the same under the laws of the Swte oE Florida, rnrering loas from both fire and scorm, making the loss under uid policies, each and every, payable to the Association, as moregagee, as its interest may appeu. and said ipsurance shall be in a g~ooel and responsible insurance mmpany satuEaaory to uid Association, and written by a responsible local agent satisfactot~r to said Asso- ~ ciation: and the policy or policia shall bear a standard mongage dause without rnntribution. and, if the original prindpal amount ~ ot the mortgage u Fi[ty Thousand and no/100 Dollars (;50,000.00) or in excess thereoE, atull bt hdd by the Association. and, in tt~r rvetu any sum oE money becomes payable under such policy or policies, the Association shall have the option to receive and applr the same on accounc oE the indebtedness herrby secured. or eo permic the mongagors to zruive and ase it, or any part t6ereof. for other purEwses, without therebr waiving or impairing any equity, lien, or right under and by virtue of this mortgage, and may place and pay for such insunnce, or anr part thereof, without waiving or a[[ecting its option to toreclose, or any right hettunder. and the full amount oE each and every such payment shall be immediately due and paya6le and slull bear interest [mm the date [hereoE until paid at the rate stated in the note secured hemby and together with such interest shaU be secured by the lien of thia 111ongage. 4. To permit, rnm~nit, or suEfer no ~vaste, impairment or deterioration of said propert~~, or .~ny part thereof, and upon .~C ~3~.~u7G vf iiii. ai~vai~$KviS iii ccF3 uic ~'iiiiie~ilI'i~~ uTt said pr~perty in g~xx~ cuiiuitiutti uf reYair, ~~1C Associaiion may demand the immediate repair of said bu:ldings or the immediate repayment of ihe debt hereby secured, and the failure of the mortgagors to rnmply ~vith said demand of the Association for a period oE Thirty (30) d1ys, shatl constitute a breach of this mortgage, and, at thc option of the Association, immediately mature the entire amount of principal and interest hereby secwed, and the Association, immediately and without notice, may institute proceeclin;s to foreclose thu mortgage and applv for the appointment of a Receiver, as hereinaker providecl. 5. This mortgage contract provides for additional advances w•hich may be made at the option of the association and secnred by this mortgage, and it is agreed that in the event of such advances the amount may be addecl 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 indebteciness under all the terms of said note and this contraM as fully as iE a new such note and contract 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 .^.nd a diEferent interest rate and other express modifications of the contract, but in all other respects ihis contract shall remain in full fome and effect as to said indebtedness, including all advances. t 6. If any of the sums of muney herein referred to be not prompdy and fully paid within Thirty (30) days next after the same severally come due snd payable, or if each and every the stipulations, ao eement, conditions, and covenants of said promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned in said promissory note and any other amount or amounts added to the mortgage indebtedness under the terms of this mortgage shall become due and pa~ ~ble forthwith or thcreaker at the option of the Association, as fully and rnmpletely as if said aggregate sum of money was originally stipulated to be paid on snch day, anything in said promissory note or herein to the contrarv not- withstanding. . 7. To deliver to the Association, on or before ~tamh 15th, of each year, tax rereipts evidencing the payment of all law•- fully im~ taxes for the preceding calendlr year; to deliver to ihe Association receipts evidencing the payment of all liens for pub ic improvements K~thin ninety (90) days aEter the same shall hecome due and payabie, and to pay or discharge within ninety (90) days 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 resulting from the mortgage indebtedness secureci bv this mortgage. a :s - ~ so~ 244 P~ 9~ , ~t~ _ _ s - < _,b~ _ . . _ ~