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Home My WebLink About0566 at all times ceably and quiedy to enter upon, hold. orcupy and enjoy sa~d l:?nd; thaE said land 'u free from all encumbranc.~es: that they w~malce such furth~ assurances ~o perfed the fee simp~e tide to said land in the Association as nwy ceasonably bc rec~uired; and that they do hereby fully warrant the title ta said Iand aod ~vill defend the same against the lawfu) claims af al] persons whomsoever, ' PROYIDED ALWAYS thut if the \Zortgagors chali well und truly puy unto the Association, the indebtedness evidenced by that certain pmmissory note, of even dsde herewith. mstde by the Atortgagors and payable to the Association, io the principal ~eim of .THIRTY_ SEVEN. THOUSAND_TWO HUNDRED AND NO/100ths po~~,~rs ~s 3?, 200. 00 ~.•hich~ note, tngether witb interrst thereon as therrin specified, is ~lysbk in monthly installments of ~terest payments due on March 1, 1976, April 1, 1976, May 1, 1976 and then THREE HUNDRED FNE AND ; 85/100ths----------------------------------------------------------------------`. . - _ _ - - . . . _ . - - - - - - - ~ -------------------------------------------------------------Doltars s _ _ . _ - - • - - ~ . _ ~ 305 85 ~ o~~ the. 13t--- . _ __..day of each month c~mmencing ~vith- - -----.Juile_ lSt,--1978--------- - - ----which payments ` are to be appl;ed, first to interest, and the balance to principal, until said indebtedness is paid in fall, and shall perform, o~mply .vith and abide by each and every the stigulations, agreements, conditions and coveaants oE said promiaory note and thic mortgage, Md, including any advances made by the A.ssociation to the Mortgagors, or their successors in tida, for any purpoae, ' at anv time before the release and cancellation of this mortgage, but at no time shall thic mortgage secure advances on account of said original note together with such additiona! advances in a sum in excess of. T~TY. SEVEN THOUSAND__ _ ~ TWO HUNDRED AND NO/100ths--------------~~~~ ~s 37 200. 00 ~ pl~ ~v advances necessarv ~ - - • t~, protect the securiry and costs, then this deed and the estate hereby created shall cease and be null and void_ ~ AND THE 1110RTGAGORS DO hereby cvvenant and agree: 1. To pay all and singular the principal and interest and other sums of money payable by vittue of said promistory notc .~nd this mortgage, or either, promptly on the days respectively the same severally come due. 2. To pay aU and singular the t~ces, asseuments, levies, liabilities, obligaHons and ineumbranees of every nature and kincl now on said de~scribed property, or that hereafter mav be imposecl, suffered, placed, letitied, or :~ssessed thereon, or that hereafter may be levieci or assessed upon this hiortgage, or t~e indebtedness secured herebv, cach and every, when due and payable, :~cconling to lativ~ before they become delinquent, and before any interest attaches or anv penalty is incurred; and insofar ,u any thereof is of record che same shall be promptl~ satisfied and dischargeci of record :~nd the original official document (surh 1s, for instance, the taa receipt or the satisfactian paper officially endorsed or certifiecl) shaA be placed in the hands of said Association as itortgagee ~~~ithin ten davs ne:t after payment; and in the event that any thereof is not paid, satisfied and discharged, saia Association may at any time pay the same or any part thereof ~vithout waiving or affecting any option, lien, equitv or right ~ iinder or by virtue of this \tortgage, and the full amount of each and every such payment shall be immecliately due andpa yable ~ and shall bear interest fmm the date thereof until paid at the rate statec~ in the note secured hereb~ and togethPr ~vith such inter- ~ c•st sha11 be secared by ihe lien of this ~lortgage. ~ s 3. To keep the buildings and all equipment and penonal property now or herea[ter on said premises covered by this mortgage. i~isured in a sum eyual to at least t6e amount of the mottgage, or an amount sufficient to rnmply with any co-insurance require- ment co~ering the same under the laws oE the State of Florida. rn~ering loss from both [in and storm, making the loss under said ~~olicies, each aod every, payable to the Association, as mortgagee, as its interest may appear. ~nd said insurance shall be in a good and responsible insurance compai~y satisfactory to said Association, and written by a responsible loul agent satisiactory to said Asso- ciation: and the policy or policies shall bear a standard mortgage clause without rnntribution, and, iE the original prinripal amount ' of the mortgage is Fi[ty Thousand and no/ I00 Dollan (s50,000.00) or in excess thereof. shali be held br the Association, and, in € tiie e~•ent any sum o[ money becomes payable under such policy or palicies, the Association sball have the option to receive and apply ~ ttie same on accoun[ of the indebtedness hereby secured, or to permit the mortgagois to receive and use it, or any part theteof. for othcr purposes, without thereby wai~•ing or impairing any equity, lien, or right under and by vinue o[ chis mortgage, and may ~ place and pay (or such insurance, or an~ part chereo[, without wai~•inR or attecting its option to foreclose, or any right hereunder, - and the [uli amoune o[ each and e~•ery such paycnent shal! be immediately due and payable and shall bear interest from the date chrreof until paid at the rate stated in ehe note secured hemby and together with such intereat ahall be secured by the lien of this ~lortgage. To permit,- ccmmit, or suffer no wasie, impairment or deterioration of said propert.~, or :iny part thereof, and upon tl~e failure of the mortgagors to keep the buildings on said propert~• in good condition oE repair, the Association may demand the immediatc repair of s:iid bu;ldings or the immediate n~ayment of the debt hereby serured, and the failure of the mortgagors to comply ~vith said demand of the AssociTtion for a peric~d of Thuty (30) d:ivs, shall eonstitute 1 breaeh of this mortgage, and~ at thc ~~tion of the Association, immediatelv mat~?re the entire amount of principal and interest herebv secured, and the :lssociation, immediately and ~~~thout notice, may institute proceeclin;s to foreclose this mortgage and appl~• for the sppointment of a Recei~~er, as hereinafter provided. 5. This morigage contract provides for additional advances w•hich may be made at the option af the association and secured by ihis mortgage, and it is agreed that in the event of such advances the amount may be added to the modgage debt and shall increase the unpaid balance of the note hereby secured by the amount of such advance and shall be a part of said note indebteclness under all the terms of said note and this contraM as fully as if a new such note and contrtct .~•ere executecl ~~nd deliverecl. An additional advance agreement ma}• be given and accepted for such advance and provision may be made for clifferent monthiv pa}•ments and a different interest rate and other express modifications of t}~e'contrac., but in all other respects ~his contr.~et shall remain in fuU fome and effect as to said indebtedness, including al) advances. 6. If any of the sums of moaey herein referreri to be not prompdy and fullv paid N7thin Thirty (30) days next after the same severally come due and payable, or if each and every the stipulations, agrcement, conditions, and covenants of said promissory note and this deed, or either, are not duly petformed, complied w•ith and abided by, ihe aggregate sum mentioned ;n said promissory note and any other amo~nt or amounts added to t~e mortgage indebtedness under the terms of this mortgagc shall breome due and pa}'~ble forthwith or thcreafter at the optiun of ihe Association, as fully and rnmpletely as if said aggregate sum of money ~vas originally stipulated to be paid on such day, anything in said promissoty note or herein to the contrary not- ~•~ithttanding. 7. To deliver to the Association, on or before ~tarch 13th, of each }'ear, tax receipts evidencing the payment of all IaH•- fully imposed taxrs for the preccding r.?Icndar year; to deliver to the Association receipts evidencing the payment of~ all liens for pub~ic impmveinents within ninety (90) days after the same shall tx~come due and payable, and to pay or discharge within ninety (90) da~~s after due date, any and all governmental levies that may be made on the mortgaged property, on this mortgage ~r note, or in any other way msulting fmm the mortgage indebtedness secured by this mortgat{e. F ~;i 24S PAGE ~ ~ -h ~ : ~ - ~ - ~ ~ _~n~,~~.-~-,~, b~ " °--~~-~~::~,xa ~~~~~~`°-'r- -z~-~~