The URL can be used to link to this page

Home My WebLink About0179 ~ ~ .~t aU times pc:?crably and quicdy to enter ujwn, hold, ocrupy und ci~j~~v s:u~ l.~nd: tF?at said land is fre.: frwn uU cucumbrances; that they will make such~further assurances to perfect the fee aimple ti11e to suid land in the Association as may rcasonably Lx~ cec~uirecl; and that they do hereby fully warrant the title to suid land and ~~•iU defend the s:ime ag:?inst 'the la~+•tul elaims of al) pcnons ~~•homsocver. PROViDED AL\l'AYS that iF the 1lfort};afiurs shall well and tndy ~y wito the~ Associ:ition, the indebte:lness evidc~iced ; by that certain pramissary note~ of even date herewith, made bv the ~iortgagors .+nd pa~~:ible to the Assnci:?ti` n, in ihe princi~~:~l i .um of TWFN1'Y NINF THOUS~ND. S~X HUNA~EA ANA N0~100ths-- t~~il:irs (S 29~ 600. 00 ? ~.~hich note, together ~~•ith interest d~ereon as thcrcin speciFiecl, is p:?~~.?ble in ~nunthlv installments ~,f interest payments due on Aecexnbex 20,1~975, January 20,1976, February 20,19?6 and then TW4 HUNDRED FORTY THREE AND 38/100ths--------------------------------------------------- u~ll~n ~g 243.38 un the 20~ - day of each month a,mmencing ~~~th M2~'Ch 20t 1976 which payments :~re to be applicd, first to interest, and the balance to pruuipal, until said indebtedness is paid in full, and shall perEorm, mmply ~ .~•ith and abide b~ each and every the atipulations, agmements, conditions and covenants of said promissory note and this ; mortgage, And, indading any advances made by the AssociaNon to the ~iortgagors, or their successors in title, for any purpose, : at anv time before the mlease and rancellation of this mortgu~e, but at no time shall thi~ mortgage seci~re advances on account ~~F s:?id original note together with such additional advana~s in a sum in excess oE.-TWENTY NINE THOUSAND ~ SIX HUNDRED AND NO~l00ths----.-_--------- Doilars 29~ 600.00 any advances necessary ~ _ _ - to prutect the security and costs. then this deed and the estate herebv emated sh:~ll ce~ase and tx~ null and void. AND THE ~fORTGAGORS DO hereby cvvenant and agrec: ~ 1. To ~y all ancl singular the priucipal ancl interest and ut}?er sums of money pa}•able b}~ virtue of said promissory nntc .uul this mortgage, or cither, promptly on the days respectively the same severaUy come due. 2. To pay all and singalar the taxes, assessments, levies, liabilities, obligations ancl ir.cumbranres of every nature and kincl n~~~v on said dc~scriUed pmperty, or that hereafter may be imposed, suffereci, placecl, levied, or assessed thcreon, or that hereafter ; rna~• be levieci or assessc~cl upon this ~tortgage, or the indebtedness seeurecl hemb}•, r.~rh and e~•ery, when due and payable, .~crord'u~g to law, before; they l~ecome delinciuent, and t~efore any interest attaches or anv penalty is incurred; and insofar as .uiv thereof is of rec~rci the same shall be prompdy satisFied anci d'uchargecl of r~coni :md the original official document (such ~s, for instanc~e, the t~ix receipt or the s:itisfactiun pa~xr officiall}~ endorsecl or certifiecl) shall be placed in the hands of said :lssociation :~s \lortga~ee «rithin ten davs next after pa~•ment; and in the event ihat anv therc~f is not ik~id, satisfied and dischargecl, ~aid Association may at any time p:?y the same or any part thereof ~~~thout waiving or affecting any option, lien, equih• or right ~it~der or b~• ~~rtue uf this \fortgage, and the full amotmt of each and everv such payment shall be immediatcly ciue and~a yable ; .~nd shall t~ear interest (rom the datc thereoF ~ntil paid at thc r.ite statecl in the note secured hereb~• and together ~~•ith such inter- ~ ~~st shall l>e securect bv the licn of this btortgage. ~ • i 3. To keep thc buildings and all eyuipment and penonal property now or hereafter on said premises corered by this mortgage. insured in a sum eyual to at least the amount ot the moftgage, or an amount sufficient to comply with any co-insurance require- ~ mrnt co.~ering the same undrr the laws o[ the Statr ot Florida, co~•eriug loss trom both tire and storm, making the loss under said ~ ~~olicies, each and every, payable to the ~ssociatiou. ~s mortgagee, as its intrrc~st may appear, and said insurance shall be in a good ? ~ and responsible i~uurance company satisfactory to said :~ssociation, and written by a responsible local agent satisfactory to said Asso- ? ~ e iation: and the policy or policies shall bear •r standarel mortgage clause without contribution, and, if the original principal amount u[ the mortRage is Fifty 7~hotesand and no/I(NI Uollars ($50,000.00) or in excess thereof, shall be held by the Association, and, in i ~he e~•ent any sum o[ money becomes payable uuder such policy or policie~s, the Association shall ha~e the option to receive and apply ; che same on account ot the indebteclness hemby~ secured, or to permit the moregagora to receive and use it, or any pan thereof, for ~ othr~ purposes, without thereby v?aiving or impairing any ec{uit~~, lien, or right under and by ~•inue o[ this mortgage, and may ~ place and pay tor such insurancr, or any part thrn•of, without wai~•inK or a(fecting its option to (oreclose, .or any right hereunder, ~ ~ :~nd the tull amount o[ each and e~~er}' such payment shall be immectiatrly due anc! payable and shall bear interest from the date ? > therrof until paid at the rate stated in the note secured hereby and together wi[h such interest shall be secured by the lien of this ` ~ ~fortgage. ~ ~ To pcrmit, a~mmit, or suffer no ~saste, impairment or d~~teriurati~~n of ~id propert}•, or any part thereoE, and ui~n the failurc of thc ~nortga~ors to kcep thi bt~ilditz~s on said propcrt~- in gaxl cnndition of repair, the Association may demand the ` irnmediatc re~~:~ir of said bu~ldin~s or the immcYliate repayment of tl~e dcbt hcreh~• seci~red, ancl the failure of the morigagors ' i t~~ comph~ ~vith said demand of the Association for a perial of Thirty (30) d:?ys, shall constitute .i breach oE this mortgage, and, at the option of the Association, immediateh~ m:~ture the entire amount of principal and interest herebv securecl, and the lscociation, immediately and ~+•ithout notim, mav institute proc~•e~lin~s tn foreclnse this mortgage and apph• f~r the appointment ' ~ ~~f a Rcrei~-er, as hereinafter provide~l. ~ :i. This mort~age contraet provides for additiun:il advaures ~~•hicL may be made at the option ~~f the association and ~ ~ecured by this mort~age, and it is agreecl that in the event of such ach~ances the a:nount may be added to the mortgage debt ~ ~ :~nd shall increase the unpaid balance of the note hereby secured by ihe amount of such advance and s}-,all be a part of said ~ note indebtedness u~ider all the terms of said note and this contr~ct as fully as if a new such notc and contract ~cere executed + ~ and ~lelivereci. An additional ad~~ancc a~reement ma~• be given and accepted for such advanc~ ancl provision ma~• bc: made for ~lifFerent monthh~ pa~•ments : rid a diFferent intcrest rate and other express m«lifications of the contr:~N, b~rt in al! other respects ~his contr:~ct shall remain in full force and rffect as to ~:~id indebtedness, including all advances. - y 6. If am• nf the sums of muney herein referrcd to be nol promPdy antl fu114' paid ~~~ithin Thirty (30) days ncxt after ~ t6e same severall•~ come duc and payable, or if each and every the stipulations, agrcYment, conditions, and covenants of said ~ ~ ~romissory note and this deed, or either, are not duly performed, complied with and ~bided by, ihe aggregate sum mentioneci in said promis~ory note :?nd anv other amount or amounts addeci to the mortgage indebtedness under the terms of this mortgage ~ ~ shall become du~ and pa~•lble forthwith or thcreafter at the option of the Assaiation, as fu11y and completely as if said ag,~regate ~ ~ tum of money ~vas originally stipulated to be paid on such day, am~thing in said promissnry note or herein to the contrarv not- ~ ~ «•ithstanding. ~ - ~ ~ i. To deliv~r to the Associatiun, on or Uefore ~f:?rch lith, of each ~•car, tax receipts evide~cing the payment of all la~~•- ?j " fnlly imposed ta~cs for the prcrcding calcnd:~r vear, to dcliver to the Association receipts evidencing the payment of all liens ~ ~ f~r public improvements within ninety (90) days after the same shall l~ecome doe and payable, and to pay or discharge wiihin ~ ~ •iinety (90) da~•s aEter due date, an~• and all govemmental levies that may be made on the mortgagecl pruperty, on this mortgagc~ ~ ~ r~r note, or in :in}' other vvay resultinG fmm th~ m~rtgage indeUtedness sec~ued b~~ this mortgagt~. ~ - ~ • ; ~ ~ i7 cLI~ F ~~•nl p F. .f. f~~ I', DUv.i 1~/ I/~VE ~ ~ ~y_ " ~ "c .a ~ _ ~ ~ - s . , . , _ ~"a .3