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HomeMy WebLinkAbout0631 i ~ i a ; { } at aU times ceabl and uietl to enter u n hold occu and en'o said Ix~d• that said land is Erce from aU encumbrances; ~ P~ Y 9 Y P~ , • Y 1 Y . that they will make such further assuiance.t to perfect the ee simple title to said land in the Association as may reasonably bc required; and that they do hereby fully warrant the tide to said land and will deEead tho same ngai~ut the lawful claims of al) perso~u whomsoever. PROVIDED AL~VAYS thut if the Mortgugurs shall well and truly pay unto the Assoriation, the u~debtedness evidenced by that certain promissory note. of even date haewitb, made by the \tortgagors and payable to the A~.sociation, in the principal .um oE _ FOUR THOUSAND TWO HUNDRED AND NO1100th8 - - - - - -pop;j~ ~ a 4~_ 200. 00 ~ , ~~~hich note, together with interest thereon as therein specified, is pay~uble in ma~thly installments of EIGHTY-EIGHT AND 22/100ths--------------------------------------------------------------- - Dollars (S- 88. 22 - - _ - - on ihe . lOth . - - day of e~ach month cv~mmencing ~vith DeC@Yribel' _10~_ 1975-------- - - - - ---------which payments are to be :~pplied, first to interest, and the balance to prinripal, until said iadebtedness is paid in full, and shall petform, oomply ~~ith and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and this - mortgage, Md, including any advances made by the Association to the Modgagors, or their succeswrs in tidC, for any purpcue, at any time before the mlease and cancellation of this mortgage, but at no time shall this mortgage secure advances on account oE said original note together ~vith such additional advances in a sum in excess of.___FOUR__THOUSAND TWO HUNDRED AND NO ~ l 00ths - - - - - - - - - - - - - - - - Dollars ( S.. . 4~_ 200. 00 - plus any advances necessary - ~ - - to protect the security and costs, then this deed and the estate hereby created shall cease and be null and void. AND THE ~tORTGAGORS DO hereby cvvenant and agree; 1. To pay all and singular ihe pruicipal and interest and other sums of money p:iyable by virtue of said promi.ctory nuM .~nd this mortgage, or either, promptly on the days respectively the same severally come due, i 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbranc~es of every nature and kind ( ?~o.v on said described pmperty, or that here~after may be imposecl, sufEered, placed, levied, or assesseci thereon, or that hereafter ~ may be levied or assessed upon ihis ~iortgage, or the indebtedness secured hereby, cach and every, ~vhen due and payable, .~cconling to law, before they become delinquent, and before any interest attaches or any penalty is incurred; and insofar as any thereof `is of record the same shall be promptly s:itisfied and dischargecl of record and the original official document (such ~s, for inctance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placecl in the hands of said Association as ~tortgagee ~vithin ten d~ys next after pa~~ment; and in the event that any thereof is not paid, satisfieci and discharged, ' ;aid A:sociation may at any time pa}' the same or any part thereof ~vithout ~vaiving or affecting any option, lien, equit~~ or right ~ tinder or by virtue of this \iortgagc, and the full amount of e:ich and everv such payment shall be immecliately due andpa yable and shall bear interest from the date thereof until paid at the rate stateci in the note seeurecl herebr and together ~cith sueh inter- t~st shall be serured by the lien of thu biortgage. - 3. To keep the buildings and all equipment and penonai property now or hemafter on said premises covered by this mortgage, insured in a sum equal to at least the amount ot the mortgage. or an amount sufiicient to comply with any co-insunnce nquire- ment co~ering the same under the laws o[ the State of Florida, coaering loss [rom both fire and storm, making the loas under said policies, each and every, payable to the Association, as mortgagce, ac iu interest may appear, and said insurance shall be in a good and responsible insurance company satisfactory to said Association, and written by a responsible local agent satufactory to said Asso- ciation: and the policy or policies shall bear a standard mongage dause wiehout contribueion, and, if the original principal amount ~ of the mortgaRe is Fi[ty Thousand and no/ 100 Dollars (j50.000.00) or in excess thereof, shall be held by the Association, and, in tlie e~•ent any sum oE money becomes payable under such policy or policies, the Association shall have the opaon to receive and apply , c}~e same on account o[ the indebtedness hereby srcured, or to permit the mongagon to receive and use it, or any part thereof, for other purpases, without thereby wai~•ing or impairing any equity, Iien, or right uader and by ~irtue ot this mortgage~ and may place and pay for such insurance, or an~• pan thereof, withoue wai~•ing or afEecting its option to foreclose, or any right hereunder. :~nd the full amount of each and every such payment shall be immediately due and payable and shall bear interest frem the date j ctiereof until paid at the rate seatecl in the note secureci hereby and together with such interest shall be secured by the lien of this ~ ~ ~fortgage. ~ ~ ~ ~1. 1'o permit, commit, or suffer no ~vaste, impairment or deterioration of s:?id prupert}-, or :iny gart thereof, and upon the failurc of thc mortgafiors to keep the bi~ildin~s on said property in good condition of re~~ir, the Association may demand the ; irnmediate re~ir of said bu:ldings or the immediate repavment of the debt he~eb~~ seci~red, and the failure of the mortgagors ~ tu complv ~vith said demand of the Association for a perioci of Thirty (30) da~•s, shall coi~ctitute a Ureach of this morigage, ~ :~nd, at thc option of the Association, immecliatelv mature the entire amount of principa) and interest hereby secured, and the i .-lscociation, immediately and ~vithout notice, mav institute proceedin;s m foreclose this mort~age and apph~ for the appointment ; nf a Recei~•er, as hereinafter provideci. ~ ; t ; 5. This mortgage contract provides for addition~l advancrs ~~•hich may be made at the uption of the association and ; secured by ihis mortgage, and it is agreed that in the event of such advances the amount may be addeci to the mortgage debt ~ i :~nci shall inerease the unpaid balanee of the note hereby seewed by the amount of sueh advanee and shall be a part of said c i note indebtedness under all the terms of said note and this contract as fully as if a new such noie :ind contract ~~-ere executed ,~nd delivered. An additional advance agrecment may be given and accepted for such advance and provision ma}' be made for clifferent monthlv pa~•ments and a dif(erent interest rate and other express modifications of the contract, but in all other respects ~his contrzM shall remain in fu11 force and cffret as to said indebtedness, including all advances. 6. If anv of the sums of muney herein referred to be not prompdy and fullv paid ~~~thin Thirty (30) days next aEter ; the same sever,~lly rnme due and payable, or if cach and every the stipulations, agreement, conditions, and covenants of said Z ~romissory note and this deed, or either, are not duly performed, complied ~vith and abided by, ihe aggregate sum mentioned in said promissory note and any other amount or amounts added to the mortgage indebtedness under the te~ms of this mortgage shall become due and pasnble forthwith or thcreafter at the option of the Association, as fully and completely as if said aggregate sum of money ~vas originally stipulated to be paid on such day. anything in said promissory note or herein to the contrarv not- ~i•ithstanding. ' i 1 ; i. To deliver to the Association, on or before Jtarch 15th, of each ~~ear, tax receipts evidencing the payment of all la~c- ~ fully imposecl taxcs for the prececling calendar vear; to deliver to the Association receipts evidencing the payment of all liens ? fr~r public improvements a~ithin ninety (90) days after the same shall herome due and payable, and to pay or discharge within ninety (90) da~~s after due date, an~~ and all govemmental levies that may be made on the mortgaged propertv, on this mortgage c ~r note, or in any other way msulting from the mortgage indebtedness securecl by this mortgage. ~ 80Cx~«1 i'AGE ~c~0 ~ , ~ ' ~ , { . _ , ~ ~ ~ . .