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Home My WebLink About0173 s } , at all tim~~s peacrably and q~uetly to enter ujwn, }wld, ocrupy unJ c~~juy s:ud l.u~d; tt?at s:iid laud is frc~: from all encumbrances; ti~at they will mnke such further assur~?ces to perfect the foe simple ti11e to s:iid land in thc Assuriation as mav rrasonably 1x~ ~equired; and that they do hereby fully warrant the title to said 1:?nd and will defend the s;ime a~;ainst the la~~~ful rlaims of aU }x~rsons ~~•lw~nsocvcr. ' PltOVIDED AL~YAI'S that iF d~e \furt~;ugors shaU ~~~rll aud tn?ly ~y w~to thr fiss~x•i:~tion, tl~~• iudebteclnrss evidenced ~ by that certain promissory note~ of even date harewith, made bv the '~tortgugors and ~~•able tn the As+~x•iation, in th~ rrinci~x~l .um of T1N~~1TX NIN~ THOUSrA?ND SIX HUNDItED .ANI~ NO/100ths-- u„»:~~ ~S 29, 600.00 which note, together ~~~th interest thercon as thercin specifiecl, is par:iblr in monthlv installments oE interest ~yments ~ ~ ~ ~ due on Aecember 20, ~975, January 20,1976, February 20,1976 and then TWO HUNDRED k FORTY THREE AND 38/100ths-------------------------------- Y . ~ _ - - - - - ~~,ll~r~ 243. 38 ' on the 2oth aay of each month cY?mmencing ..•;ch March 20 19?6 which payments ' are to be :~pplicd, [irst to interest, and the balance to principal, unt;! said indebtedness is paid in full, and shall perform, comply .~•ith anci abide by each and every the stipulations, agrcements, conditions and covenants of said promissory note and thic ~ mortgage, And, including any advances made by the Association to the ~iortgagocs, or their successors in titlv, for any purpose, ~ at anv time before the release and cancellation of this mortgaKe, but at no time shall this mortgage secure ad~~ances on account uf s:?id orinin~il note together with such additional adr•ancrs in a sum in excess of..TWENTY NINE 1'HOUSAND ' SIX HUNDRED AND NO~l00ths------_-------- ~p,~~ ~g 29~ 600.00 p~~ any advanc~s necessarv ~ tu proteM the security and costs, then this deed and the estate herebv created sh:ill ceasc~ and be null and void. ~ A\D THE ~10R1'GAGORS DO hcreby cv~~enant and agrec: 1. To pay all and singular the principal and interest and other sums of money pa}•able b~~ virtue of suid promiscon• note - ,~nd this mortgagc, or either, promptly on the days respectivelY the same se~•erally comc due. ~ 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations ancl incumbrances of even~ nature and kind no~~• on said described pmperty, or that hereafter may be imposeci, saffered, placed, levicd, or assessecl thereon, or that hereaftFr ma~• be Irviecl or assessed upun this ~fortgage, or the indebtedness securecl Lembt•, each ancl e~•en•, ~shen due and payable, .~ccorJu~g to la~~•, before thcy become delinyucnt, and before any interrst attaches or :m~~ penalty ~is incurmd; and inso[ar as •~n} thereof is oE recurd the same shall be promptly sutisfiecl and dischargecl oE rec~ord ancl the original official doeument (sucl: ~s, for instancr, the tax receipt or the satisfaction paper officialh• endorsecl nr ccrtifiecl) shall be placecl in the hands of said _ :lssociation :is \1ort~aaee ~+~thin ten davs next after pa~•ment; and in the event that an~~ therc~f is not Zx~id, satisfied and dischargecl, said Assuciation ~na~• at am• time pa~• tiie s:ime or an~• part thereoE ~~ithout ~a~aiving~or a[fecting ~ny option, lien, equit~~ or right under or bv ~•irtue uf this \Iortg:~~e, ancl the full amuunt of each and everv such pa~~ment s}~all l~e immcYliatelv due and pa~•ahle :ind shall bear interest from the date thereoE until paid at the r.ite statc~cl in the nMe secy~recl hereb~• and to~ether ~cith such inter- ~~st shal) l~e secured bv the lien of this ~iortgage. ~ ~ 3. To keep the buildinRs and all eyuipment and personal property noM or herea(cer on said premises covered by this mortgage, ' insu~ed in a sum equal to at least the amount af the mortgage, or an amount sufticient to comply with any co-insurance teyuire- me~u co~•erinq the same under the laws ot the State of Florida, co~•ering loss from both fire and storm, making the loss under said policies, each -rnd every. pa~able to the ,~?ssociation, ra mortRagee, ac its inrerrst may appear, and said insurance shall be in a gooci and responsible insuranre compauy satisfrctory to said :\ssociation, aud Nriuen by a responsible local agent satis[actory to said Asso- ciation: and the ~licy or policies shall t~rat a stand-enl mortg.~~e clausr ~cithout contribution, and, i( the oriqinat principal amount ~ o( the mortRage is Fi(ty Thousaud and no/lIN1 I)ollars (S5(?•+~•0(Ij or iu excess thereof, shall Ue held by the Assotiation, and, in i chr r~~ent any sum o[ mone~• becomrs pa}-rble under such policy or polieic~s, the Association shall ha~~e the option to recei~~e and apply ~ the same on account ot the indrbteclness herrb~ securecl, or to permit the mortgaqors to receice and use it, or any pan thereof, for ~ uther purposes, Nithout thereby wai~iuy or impairing any eyuity, lien. or right under and by ~•irtue of this mortgage, and may ; place and pa~ [or such insurance, or any part therrof, NI[I10UI N':1t\'111J{ or a(fecting its option to toreclase, or any right hereunder, ~ :uid the tull amow?t of each and e~~rry such pa}~ment shall be immediatrl}~ clne and payable and shal( . ar interest (rom the date j thereof until paid at thc rate statecl in the note secured t?rreb} and toy,rther with such interest shall be~ecured by the lien o[ this ~ ~tortgagc. ~ To pcrmit, cr.mmit, or suffer no ~~•astc, impairnicut or dctcriuration of 1.~id prupc rt~~, or :?nv p~irt thcrcof, and u~wn ~ tl~e failare ~~f the murtgaeors to kee~ the buildi?i~s on said pru~~ert~- in bucxl conditiun of repair, the Association mav demand the iTnmediatc repair of said bu~ldin~s or tlic imn~eYliate mpa~nnent of the debt hereb~~ ti~rurcYl, .incl the Eailure ~~f the mortgagors ~ tn compl~~ ~~~ith said clemancl of the :lssociation f~~r a l~criixl of Thirtv (30) ~1:~~•s. shall cvnstitute a l~reaeh of this mort~a~e,- :~nd, at the option of the Association, immedi;~teh- ~n;~ture t}i~ E~ntire :imot~nt of principal and interest herebv securecl, and the ~ 1~umeation, immediatel~ and ~~~ithout notice, mav institute proc~r~linRs t~ forecl~~ this mort~a~c> ancl apph• f~~r the a~~x?intment ~ ~~f a Iiccei~•er, as hereinafter pruvide~l. ~ ~ ' 7. This mortgage contr:ict pro~~ides for additiun.~l advance~s ~~•hich m:?~• be made at t1~e option ~~f the associution and : ~ecumd bv this mort~a~e, and it is agreed that in the e~•ent of such aihancrs the amount may be added to the mortgage debt ~ ; .~nd shall increase the unpaid balance of the note herehv secured b~• the amount of such advance and shall be a part of said ~ ' nr~te indeUtechu•ss under all the terms nf said n~te and ~this contr~ct as fully as if a new such notc and cc~ntract ~~-ere excrutcd ' ~n~l ~Ie~i~-erecl. An ;idditional acl~•anee a~reement ma~~ be gi~~en aiul acrepted for sueh ach•anee ancl provision ~nar lx• made for ~lifferent monthh• lr.i~•m.ents and a different i~zterest rate and other express moclifieations of the eontrae., bt;t ir. all other respcxtc ~his contract shall remain in (ul! forcc and c~ffect as t~? said indebtedness, including a!1 advances. ' i 6. If an~• of the sums of money herein refcrrcd to be not promptly and fullv paid ~~•ithin Thirt~• (30 j days ncxt after ' ihe same se~eralls cY~me duc ancl pavable, ~~r if cach and every the stipulations, a'rcrment, conditions, and cY~~•en~nts of said ' rromissory nute aud this deeci, or either~ are not duly perEormed, eamplied ~~•ith and abidecl by, the aggregate sum mentionect r in said promis.on~ note and anv other amount or amounts added to the mortgage indebteclness under thc terms of this mortgage ~ shall become duc and pa~~~ble forthwith or thcreafter at the option of the Assa^.iation, as fully and completely as if ~aid a~~regat~• ; ~am nf monev ~~•as originally stipulated to be paid on such dav. am~thin~ in said promissorv note ~r herein~to the contrarv not- i ~••it}utanding. ' ' - . ; To deli~~er to th.• Ascoeia(ion, on ~r bef~re ~lareh lith, of eanc ~e.~r, tax receipts evideneing the payment of a11 la~c- ~ ; f~~lh• imposed taxes for the ~recedin~ c:il~~ular ~-ear, to deli~•cr to th~• Association rcreipts evidencing the Ira~7nent of all liens ; f~r~p~blic improvements ~~•ithin ninety (90) days after the same shall I~ecomc due and pavable, and to pay or discharge ~vithin ~ ninety (90) da~•s after due date, am• anJ afl go~~emmental levies that may be made on the mort~.ived pruperty, on thic mortga~~• ' ! ~~r note, or in an~• ~~ther K•a~~ rc•s«ltin~ from th~ ~nort~age indebtedncss sc*cured bv this mortQa~~~. ~ • - i ~r ~ ~ e•n 3 ~ ~.1 r.~E 173 ~ ~ ~ _ ' _ _ ~ . . . _ ,