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Home My WebLink About0054 - ! ' , ~ :?t aq times peaceably und quiedy to enter upon, huld, cx~cupy and cnjuy said land; that s:?id l:ind 'u (ree frum aU rncumbrances; . that they will make such' further asstuances to perfect the fee dmple tide to said land in the Aswciation as mav reasonably lx> requirecl; and that they do hereby fully warrant the tide to said land and ~vill defe.~d the same against the la~vful claims o[ ~ all persuns ~vhomsocvcr. PROVIDED AL~'VAYS thut if the :~lortgsgors shall well at?d truly pav unto the Association, the indebtedness evider~ced by that certain promissory note. of even date herewitb, mat~a by t1~e :~lortgagors anci payable to the Asu~ciation, in the princil~.~l TWENTY EIGHT THOUSAND AND NO/100ths---------------Doll_irs (s 28, 000.00 sum of . . - _ _ . .vhich note, together ~vith interest thereon as therein specifiecl. is payable in monthlv installments of ~terest PaYmerits due on June 4, .19?6, July 4, 1976, August 4, 1976, Septemb~~ 4, 1976, October 4, 1976, November 4, 19?6 and then _TWQ HU.NDRED ~H~R~X A~1D 21 / 1Q~ths------------. ---------------=---------------------------------------------puilars(3.230.21 on the `}th _ duy of each month c~mmenciug with ..__DeCembeT.4th,___]~976__. __..which yments are to be :~pplied, Eirst to interest, and the balance to principul~ until said indebtedness u paid in ful1, and shall perfonq oomply , «~ith ~nd ~abide by each and every the stipulations. agreements, conditions And covenants of said promissory note and this mortgage, And, including any advances made by the Association to the ,Liortgagors, or their successors in title, for any purpose. at anv time before the mlease and cancellation of this mortgage, but at no time shall this mortg:~ge secure advances on account of said original note together ~vith such additional advances in a sum in e~cess of__TwENTY: EIGHT_THOUSAND _ AND NO/ 100ths---------------------------- Dollars (s 28,. 000. 00 plus an+ advances necessan• _ . . . . . k ro protect.the security and costs, then this deecl and the estate hemby cmated shall cease and be null and void. A,\1D THE :1tORTGAGORS DO hereby cvvenant and agree: s. 1. To pay all and snigular the principal and interest and other sums of money payable by virtue of said promissory nute i .~nd thic mortgage, or cither, prompdy on the clays respectively the same severatly come due. - ` 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind ~ now on said described property, or that hereafter rnay be imposed, sufferecl, placecl, levied, or assessed thereon, or that hereafter ; ma}' be levied or assessed upon this Afortgage, or the indebtedneu securecl hereby, cach and e~~ery, when due and payable, i uccord'nig to law, before they become delinyuent, and before any interest attaches or .?nv penalty is incurred; and iruofaz as ; any thereoE is of recard the same shall be prompdy satisfied and dischargecl oE record and the original official document (surh ! ~s, for instance, the tax receipt or tbe satisfaction paper officially endorsecl or certifiecl) shall be placecl in the hands of said ~ Association as ~tortgagee w~thin ten days next after payment; and in the event that any thereof is not paid, satisfied and discharged. said Association m~y at any time pay the same or any part thereof ~vithout waiving or affecting any option, lien, equitv or ~ight i~nder or by virtue of this \tortgagc, and the full amount of each and every such payment shall be immecliatcly due andpa yable and shall bcar interest fmm the date thereof until paid at the rate stateci in the ~zote securecl hereb~• and to~ether with such intcr- e~st shall be secured by the lien of this hiortgage. 8. To keep the buildings and a1l equipment and personal property now or hereafter on uid prcmises covered by this mortgage. insured in a sum equal to at least the amount of the mortgage, ot an amouut sufficient to comply with anr co-insurance require- ~ ment covering the same under the laws ot d~e Swte o[ Florida. covering loss from both fire and storm, making the loss under said E~olicies. each and every, pa)able to the As.sociation, as mortgagee, aa its -interest may appear, and said insunnce shall be in a good . and responsible insurance company satis[actory eo said Association, and wrieten by a responsible local agent satis[actory to said Asso- ciation: and the policy or policies shall bear a sta~uiarci mortgage clause without contribution, and, if the original principal amount S o[ the mongage is Fi[ty Thousand and no~l0(1 Dollars ($50,000.00) or in excess thereot, shall be held by the Astociation, and, in ~ E the event any sum oE monep becomes payable under such policy or policies, the Association shall have the option to receive and apply the same on account o[ the indebtedness hereby secured, or eo permit .the mongagors to receive and use it, or any part thereof, for i other purExues. without thereby wai~•inq or impairing any equity, lien, or right under and b}r virtue o[ this mortgage, and mar ~ place and pay [or such insurance, or any part thereof, without waiving or af[ecting its option to toreclaae. or any right hereunder, ~ and the [ull amowu oE each and every wch payment shall be immediately due and payable and shall bear interest from the date E thereo[ until paid at the rate stated in the nott secured hereby and together with such interat shall be secuted by the lien oE this ~ Uorcgage. 3 ~f. To permit, commit, or suEfer no waste, impa"ument or deteriuration of s:iid propert~-, or any part ther~ec~E, and upon ~ the failure of the'mort~;agors to keep the buildings on said property in goocl condition of repair, the ~ssociation may demand the ; immediatc repair of said bu;ldings or thc immediate repayment of the debt hereby securecl, and the failure of the mortgagors to comply with said demand af the Association for a peri«I of Thirty (30) da}'s, shall constitut~ a hreach of this mortgage, i t and, at thc option of the Association, immeclultelv mature the entire amount of principal and interest herebv secm~ed, and the = Association, immediately and ~vithout notice, may institute proceeclin?s t~ foreclose this mort~a~e and appl~~ for the appointment ~ ~f a Receiver, as hereinafter provided. ~ 5. This mortgage contract provides for additionul advances ~+~hich may be made at the optiun of the association and § seeured by this mortgage, and it is agreecl that in the event oE sueh advanees the a:nount may be addecl to the mortgage debt and shall increase the unpaid balauce of the note hereby secured by the amount of such advance and shall be a part of saicl - note indebtedness under all the terms of said note and this contract as fully as if a new such note and contract µ•ere execirted ; .~nd deliveretl. An additional advancc agreement ma~~ be given and accepted for such ad~~ance and provision ma}' be made for different monthh• pa~•ments : nd a different intcrest rate and other express modifications of the contract, but in ali other respects ihis contr:ict s}u~ll remain in foll force and cffect as to ~id indebtedness, inciuding ali advances. ' 6. If any of the sums of money herein referred to be not promptly and full~• paid w•ithin Thirty (30) days nexi after - the same severally rnme ~lue 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 performecl, complied with and abided by, the aggregate sum mentioned ~ in said promiswry note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgagc ~ shall become due and pa~~sble forthwith or thcreaEter at the optiun of the Associ:~tion, as fully and completely as if said aggregate ~ sum of money was originally stipulated to be paid on such day, anything in said promissor,y note or herein to the contrarv not- _ .vitFutanding. 3 7. To deliver to the Association, on or before ~larch lath, of each year, tax receipts evidencing the payrnent of all laH•- ~ fully impose,sd tanes for the preceding calendar vear; to deliver to the Association receipts evide~?cing the payment of all liens ~ for public improvements within ninety (90) days after the samc shall hecomc due and payable, and to pay or d'ucharge within 3 ninety (90) da}'s after due date, an~~ and all govemmental levies that may be made on the mortgaged property, on this mortgage ~ - or note, or in_an~• other wav resultinq fmm the mortgage indebteclness secureKl bv this mortga~P. ~ ~ a - ~ r~ z5~ ~~E ~