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Home My WebLink About0852 r ; at all times ~:tceably and quietly to cnter ujwii, hold, occupy a~id ~nj~~v s:~,d lund; that s:?id la~iJ is f~ee from aU encumbranc~s; that they will make such further oss~u~ Lo perfect the fee dmple title to said land in die As,wciation as may reuso~~ably lxs " required; and that they do hereby fully warrant the bitle to said land and ~vilt defend the same t~gainst tije lawEu) rlainu of all peno~u «~6omsoever. PROVIDED AL~VAYS that if the ;~tortgagurs shutl weli and tndy pay unto the Associuti~n, the inJebtcKlr~ess tt~idch~ced j by t6at certain promissory note, of even date here~vith, mstde by the '.?~ortgagon nnd payable to the Association, in the princi~ial ; sum of F~UR THOU5AND TWO HUNDRF,,,D AND NO/100ths----------~~~;~~ ~s 4~ 200. 00 ~ ~~•hich note, together with interest thercon as ihcrein s~ecifiecl, is pa~'1~IP in monthly inst~llments of FIFTY THREE ~ AND 22/100ths--------------------------------~--------------------------------- i - - f t t _ _ . . _ -------------------------------------------------------------voll~rs ~s.53.22 ~ . ~ on the . 20th -~y of each month commencing with April__20th~_ 19?6-.-- __which payments ~ :ue to be :ipplied, Eirst to interest, and the balance to principal~ untii said indebtedness is paid in full, and shall perfo~, oom~ with and abide by each and every the stipulations, Agreements. conditions and c~ovenants of saiti pramissory note and Ls modgage, And, including any advances made by the Association to the Mortgpgors, or their succ,~essors in tit1C, for any putpose, at any time befote the release and cancellation of this mortgage, but at no time shall this mortgage secure advances on account - j , oE said original note together with such additional advances in a sum in excess of._ FOUR THOUSAND Z'WO ~ . - - HUNDRED AND NO/100ths.-----_---_-_- ~-_-_---.-~~~a~ ~s 4:.2_00._00 p~~ ~y advances necessan• ~ to protect the secwity and casts, then this deed and the estate hereby createci sh~ii cease and be null and void. ~ ~ AND THE 110RTCACOAS DO hereby euvenant and agree; ~ 1. To pay all and singula~ the princi'pal and interest and other sums of money pa~~able by virtue of said promissory nute ~ und this mortgage, or either. promptly on the days respectively the same sc~•erally come due. 2. To pay all a~d singular the tazes, assessments, levies, liabilities, obligations and incumbranres of every nature aad kind now on said deseiibed praperty, or that hereafter tnay be imposed, suffecc~ci, plaeed, levied, or assessecl therean, or that hereaEter may be levicd or assessed upon this Nortgage, or the •indebtedness securecl hereby, cach and every, when due and payable, ~ :~crorciing to la~v, before they become drlinquent, :u~d before any interest attaches or any penalty is incurred; and iruofar .u } any thereof is of record the same shall be prompdy satisfied and dischargecl of record and the origina[ officiai document (such ~ as, for instance, the tax receipt or_the satisfacHon paper officiaily endorse~d or certified) shall be placed in t}~e hands of said ' Association as ifortgagee within ten days Rext after payment; and in the event that any therc~f is not paid, satisfieci •and discharged, ~ said Association may at any time pay the same or any part theteof ~vithout w. aiving or afferting any option, lien, equity or ri~ t under or by vittue of thes ~lortgage, and the full amount of each and every such payment shall be immecliatety due andpa yable and sha11 beaz interest from the date thereoE unti! paid at the rate statecl in the note securecl hereb~• and lo~ether with such inter- est shal) be secarecl by the lien of this biortgage. ' 3. To keep the buildings and all equipment and peraonal property now or hereaftcr on said. premixa covered by this mortgage, insured in a sum equal to at least the amount of the mottgage, or an amoune su(ticient to comply with any to-insunnce require- ment co~~ering the same under the laws of the State of Florida, covering loas from both fire and ~torm, making the loas undet said policies, each and e~ery, payable to the Association, as mortgagee, a~ its interest may appear, and said insurance ahal) be in a goex! and resporuible insurance company utis[actory to said Association, and written by a responsible local agent satis[acWry to said Asso- ciation; and the policy or policies shall bear a seandard mortgage clause without contribution. and, it the original principal amount of the mortqage is Fi[ty Thousand a~d noJ100 Dolt~rs -(;50,OOO.pp) or in excess thereof, shall be htld by the Association, and, in the e~•ent a~iy sum of money becomes payabte under such policy or policies, the Association shall have the option to recei~e and applr the same on account of the indebtedness hereby securctil, or eo permit the mongagors to receive and use it. or any put thereoE, for other purFx~ses, without thereby waiving or impairing any equity, lien, or right under and by vittue o[ this mortgage, and may place and pay tor such insutance, or any part thereo[, without wai~•ing or alfecting its option to foreclose, or any right heminder. and the [uU amount of each and every such payment shal) be immetliately due and payable and steall bear interest frum the date thereof until paid at the rate seated in the note secured hereby and eogether wich such interest shall be secured by the lien of this 11lortgage. 4. To permit, commit, or suffer no waste, impairment or deterior.~tion of ~id propert~~, or any part thereof, and upon ~ the failuro of ihe mortgagors to keep the buiWings or? said propcrty in goocl condition of repair, the Association may demand the immediate repair of said bu:ldings or the immediate repayment of the debt hereby securecl, and the failure of the modgagors to comply ~vith said demand of the Association for a peri~ of TLirty (30) c~ays, shal! constitute 3 breaeh of this mortgage, and, at thc option of the Association, immediately m:?hue the entire amQUnt of principal and interest hereby secured, and the Association, immediately and without notice, mav institute proccedin;s to foreclose thic mortgage and apply for the appointment of a Receiver, as hereinakPr_providecl, ~ 5. This mortgage rnntnct provides for additiun:~l aslvancrs ~~•hich m:?y be made at the option of the association and secured by this mortgage. and it is agreecl that in the event oi such advances the amount may be ~dded to the mortgage debt and shall increase tfie unjraid balance of the note hereby secured by the amount of such advance and sball be a part of said note indeUtedness under all the terms of said note and this eontract as fully as if a new such note and contract .cere exeeutecl and ~ielivered. An additional advance agreement may be given and acceptecl for such advance and provision may be made for ~iifferent monthiv payments wnd a different interest rate and other express modifications of the contrac:, but in a11 other resPects ihis contraci shall rcmain in fu11 force and effcct as to said indebteclness, including all advances, ' 8. If any of the sums of money herein referreci to be not prompdy and fully paid within Thirty (3O) days next after the same severally rnme due and payable, or if each and every the stipulations, aorc~ement, conditions, and covenants of said promissory note and this deed, or either, are not duly performed, complied K•ith and abided by, the aggregate sum mentioned in said promissory note and anv other amount or amounts added fo the mortgage indebtedness under the tecros of this mortgage sha11 become due and pay3ble forthwith or thcmafter at the option of the Association, as fully and rnmpleteiy 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- wit}utanding. . 7. To deliver to the Associativn, on or before ~larcli 13th, oE each year, tax receipts evidencing the payment of all law•- fuily imposec1 ta~ces for the prececling calendar year; to deliver to the Association receipts evidencing the payment of all Iiens for pub ~l'c improvements within ninety (90) days after the same shaH t~ecorrze due and payable, and to pay or discharge within ninety (9p) da~-s after due clate, any and a1) go~•emmental levies that may be made on the mortgsged property, on this mo~tgage or note, or in any other way rcs~~lting fmm the murtgage indebtedness secured by this mort~age. ~ 25~ 846 . ~ ~ § ~ ~ ~ ~ ~ . r _ Y,.~-~M _ . _ ~-.;.~a.~~