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Home My WebLink About0261 ~ 3 at aU times peacrably and quiedy to enter upon, hold, ocrupy and enjoy sa~d l~?nd; that said land is frc~e fcem al) encumbrances; that they wi11 make such Eurther assurances co perfect the fee simple tide to suid land in the Associution as may rcaso~ulbly tx~ ~ rrquired; and that ihey do hereby ftilly warrant the tide to sstid land and will defe~d the s:~me ag;unst the lawfu) claims of ~ :~ll persoiu ~~•homscever. ~ PRO~'IDED AL~YAYS•that iF the !1lortgagors shall well and truly ~:?y wito the ~s.ux•iation, the inilebtednrss evidenced t~y that certai~ promissory note. of even datc hcrewith, made by thc 1~lortgagors and p:?ya~le to the Asuxiation, in the princi~ks! . ~ .um of . TWENTY THREE THOUSAND SI.X HUNDR~FD _AND.NO/ 100ths Doll:~rs (S 23, 600. 00 ~ which note, tagether ~vith interest d~ereon as therein specified, is p:ryable in monthly instaUments ~,E ONE HUNDRED NINETY FOUR ANI? 04/100ths-----_---------------------------------------~-------- Dollars (a 194. Q4 ) ~ . on the. l Oth ~sy of e~ach munth cummencing ~vith. _ June l Oth, 1976 _ which payments - - . are to bP upplied, first to interest, and the balance to principal, unti! said indebtedness is paid in full, and shall perform, comply .?•ith and abide by cach and every the stipulations~ agreements, conditions and covenants of said pmmissory note and this mortgage, And, including any advances made by the Associacion to the Mortgagors, or their succes.oors in title, Eor-any purpose, at any time before the retease and cancellation of this mortgage, but at no time shall this mortgage secure advances on account of s:iid original note together with ~uch additional advances in a sum in e~cess of.__TWENTY THREE THOUSAND SIX HITNDRED AND NO/100ths---------------~~~a~ ~s 23, 600.00 P~~ any advances necessan• - - - - . - - - to pmtect the security and costs, then this deed and the estate hereby created shall cease and be null and void, ~ Al\D THE 1iORTGACORS I)O hereby cvvenant and agree: 1. To pay all and singular the principal and interest and other sums of money pa_yable by virtue of said prumissory note .~nci this mortgage. or either, promptly on the da~~s respectively the same severally come due. 2. To pay atl and singular the taxes, assessments, levies, liabiuties, obligations and incumbranres of every nature and kind now on said described pmperty, or that hereafter may be imposed, suffered, placecl, leviecl, or assessed thereon, or that hereafter n:ay be levicd or Assessed upon this \fortgage, or the indebtedness securecl hereby, cach and every, when due and payable, uccorcling to law, before they become delinquent, and before any interest attaches or anv penalty is incurrecl; and iruofar :?s any thereof is of record the same s1~a1) be promptly satisfied and dischargecl of reconl and the original official document (surh ~s, for instance, the tax receipt or the satisfaction paper officially endorsed or certifiecl) shall be placed in the hands of said association as ~tortgagee ~~~thin ten days uext after payment; and in the event that any thereof is not paid, satisfieci and discharged, said Association may at any time pay the same or any part thereof zvithovt ~~•aiving or affecting any option, lien, equity or right ' iinder or by~ t~rtue vf this \fortg~ge, and the full amuunt oE e;tch and everv such payment shall be immediately due andpa }.ible and shall bear interest irom the date thereof until paid at the rate stated in the note securccl hereb~• and together ~vith such inter. est shaU be secured bv the lien of this !1lortgage. ' ~ 3. To keep the buildings and all equipment and petsonal property now or hereaEter on said premises covered by this mortgage, iusured in a sum equal to at least the amount of the mongage, or an amount sufficient to comply with any co-insurance require- ment cor•ering the same under the laws of the Swte of Florida, cQvering loss from boeh Eire and storm, making the loss under said policies, each and e~•ery, payable to the Association, as mortgagee, as its interest may appear, and said insurance shall be in a good and responsible insurance company satis[actory to said Association, and written by a responsible locai agent satistactory to said Asso- ciation: and die policy or poticies shall bear a standard mortg-age clause without contribution. and, if the original principal amount o[ the mortgaKe is Fi[ty 7'housand and no~ 100 Dollars (550,000.00) or in excess chereof. shall be held by the Association, and, in the e.•ent any sum o[ money becomes payable under such policy or policies, the Association shall have the opcion to meive and apply ehe same on account ot the indebteeiness hereb~• secured, or to permit the mottgagors to receive and use it, or any part thereoE, fot other purpos~es, without thereby wai~•ing or impairing any equity, lien, ot right under and by virtue of this mortgage, and may place and pay !or such insurance, or any part therrot, without wai~•inR or atfecting its option to foredose, or any right hereunder, and the [ull amount of each and every such payment shall be immecliately due and payable and shall bear interest from the date chereof until paid at the race stated in the note secured hereby and together with such intet+est shall be secured by the lien oE this ,~forcgage. -1. To permit, commit, or suffer no waste, impairment or drterioratiun of s:~id property~, or .iny part thereof, ancl upon iiie failure of thc mortgagors to kee~,}~e buildings on said pr+operty in good condition of repair, the Association may demand the • immediate re~ir of said bu:ldings or the immediate mpavment of the debt hereby secured, and the failure of the mortgagors ~ to comply with said demand of the Association for a pcriocl of Thirty (3Q) day~s, shall constitute a breach of this mortgage, and, at the option of the Association, immediatelv matur~ the entire amount of principal and interest herebv securecl, and the Asu~ciation, immediately and without notice, may institate proccedin~s tn foreclo.ce this mort~a~e and app)~• for the appointment of a Recei~~er, as hereinafter pmvidecl. 5. This mortgzge conti~rt provides for addition:+l advances ~~•hich may be made at the option of the association and secured by this mort~age, and it is agrced that in the event of such advances the a:nount may be addeci to the mortgage debt and shall increase the unpaid balance of the note hereby seeiued by the amoant of such advance and shali be a part of said note indebtedness under ail the terms of said note r~nd this contract as fully as if a new such note and contract ~~~ere executecl .+nd deliveretl. An additional ad~•ance agreement may bc given and accepted for such advance and provision may be made for clifferent monthlv pa~~rr?ents :nd a different interest rate and other express modiEications of the contr.?c:, but in all other respects this contr,ict shall remain in full force and cffeet as to said indebtedness. including all advances. 6. If am• of the sums oE money hercin referred to be-not prompdy and fallv paid ~rithin Thirty (30) days next after the same sever.illy come dde and payable, or if each and every the stipulations, ao cement, conditions, and covenants of said promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned in said promissory note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage shall become due and pay~ble forthwith or thereafter at the option of the Ass~iation, as fully and completely as if said aggregatF sum of money was originatly stipulated to i~e paid on such day, am~thing in said promissory note or herein to thr contrarv nc,t- ~vithstandiog. ' i. To deliver to the Association, on or i~efore ~tarch lith, of each ~•ear, tax receipts evidencing the payment of all law•- fully im~ taxes for the prece~Iing calcnd~r ~•ear; to deliver to the Associatian receipts evidencing the payment of all liens for pub ic improvements K~ithin ninety (90) days after the same shall hecome due and payable, and to pay or discharge within ninety (SO) da~~s after due date, an~~ and all govemmental levies that may be macte ou the morigaged pmperty, on this r~ortRage or note, or in any other wav res~dting fmm the mortgage indebtedncss securrd by this mortgage. - ; ~ ~ 25~ FA~~