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HomeMy WebLinkAbout0421 . at all tinzes ~.?ce~ably and quiedy to enter upon, hold, oc.rupy and cujm• s:iid lund; that s:~id land is frc~, from all encumbrau?ccs; that they will make such further assurances to perfect the fee simpla title to said land in the Association as may rcasonably required; and that they do hereby fully warrant the tide to sa~d land and will defend the same :~gtinst the la~vfu) claims oE all ~r~ons whumsocver. PROVIDED AL~YAIS that if the rlortgugors shall well and tndy pay unto the Aswriution, the in~ebtcdness evidenced by that cectain promessory note, of ever? date herewith,~made bv the I~lortgagors and pav.?hle to the Assoriation, in the princi~~al THIRTY SEVEN THUUSAND ONE I~JNDRED tiND NO/ 100ths- 1~~~;~n (3 37~ 100. 00 sum of : _ ~~•hich note, t~ether ~~•ith interest thert~on us therein specifiecl, is ~kiy:eLle in munthly installments oE TWO HUNDRED :~IINETY EIGHT AND 75/100ths--------------------------------------------------- ------------------~-------------------------------------------vollsrs~ (S 29$..75 _ on the 15th ~y of each month cummencing ~veth . :JUile__15thi _1.J'16 _____.__._______,Wh~b ~yments are to be :~pplicd, fint to interest, and the balance to principal, until said indebtedness is paid in fu11, and shall perEorm, comply with and abide by each and every the stipulations~ agreements, conditions und covenants of said promissory iwte and this mortgage, Md, including any advances made by the As3ociation to the Mortgagors, or their successors in tidc, for any purpose, at anv time before the mlease and rancellation of this mortgage, but at no time shall this mortgage secure advances on account of said original note together ~vith surh additional advances in a som in excess of._THIRTY SEVEN TH~USAND ONE HUNDRED AND NO/ 100ths_--.---------_---Dollars 37, 100. 00 p~~ any advances necessary to proteM the sect?rity and costs, then this deed and the estate hereby cmatecl shall cease and be null and void. AND THE '.110RTGAGORS DO hereby c~~enant and agree: 1. To pay all and singular the principal and interest aud other sums of money-pa~•able b~• virtue of said promissory nute .~nd this mortgage, or either, promptly on the day~s respectively the same severally come due. 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of even• nature and kind i~ow on said drscribed property, or that hereafter ~nay be imposed, suffered, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon this \fortgage, or the indebt~dness secureci hemby, r.ich and e~~ery, when due and payablc, :,ccorclu~g to la~v, before they become delinquent, and before any interest attaches ~~r anv penalty is incurred; and iruofar as any thereof is of record the same sl~all be prompdy s:itisfied and discharged of record and the orig,inal official document (such 1s, for instance, the taJC receipt or the satisiaction paper officially enduned or certified) shall be placed in the hands of saici Association as ~tort~a~ee ~~~thin ten davs next after payment; and in the event that any thereof is not paid, satisfied and dis~harged, said Associ.ltion m:?y at any time pay the same or any gart thereof ~~lthout ~vai~~ing or afEecting any option, lien, equitY or right i?nder or by virtue uf this ~1ortg:~gc, and the full amount of each and every such payment shall be immecliately due andpa yable and shall bear interest from the ciate ihereof until paid at the rate stated in the note secured hereb~- and tofiether .vith such inter- est shall be secured by the lien of ihis biortgage. 3. To kcep the buildings and all equipmenc aud peisonal property now or hematter on said premises covered b~ this mortgage. ~ insured in a sum eyual to at least the amount of the mongage, or an amount su[ficient to tomply with any co-insunnce require- ! ment covering che same under the laws o[ the State oE Florida, co~•ering loss from both fire and storm, making the loes under said ! E~olicies, each and every, payable to the Association. as mortgagee, ac iu interest may appear, and said insurance shall be in a goocl E and responsib;e insurance company satisfactory to said Association, and vrritten by a respo~uible local agent satisfacwry to said Asso- ~ ciation; and the policy or policies shall bear a standard mortgage dause Nithout mntribution, and, if lhe original principal amount ~ of the mongage is Fi[ty Thousand and no/100 Uollars (~50,000.00).or in e~ccess thereoi, shall be held by the Association, and, in ! the e~•ent an sum of mone becomes a able under such li or licies, the Association shall ha~~e the o aon to receive and a 1 g r y P r ~ ry r~ p~ pP y ehe same on accoune o[ the indebtedness hereby secured, or to prrmi[ the mortgagors to receive and use it, or any pan thereof, for ~ other pu r p o s e s. without thereb y wai~~iu q or im pairin g an y e quit y. 1ien, or right under and by vinue of this mortgage, and may t place and pay tor such i~uurance, or any part theteo[. without wai~~ing or affecting its option to foredose, or any right hereunder, q and the [ull amount of each and every such pa}~neot shall be immecliately due and pa}able and shall bear interest from the date thereo[ uneil paid at the rate staeed in che note secured hereby and together with such interest shall be secured by the lien of this ~fongage. ~1. To permit, ccmmit, or suffer no ~~•aste, impairment or deterioration of ~:,~d propert.~, or .iny part thereol, and upon ~ the failurc of the mortgagors to kecp the buildings on said pmperty in gcml condition of repair, the Association may demand the immediatc repair of s:iid bu:ldinas or the immecliate mpa~v~ent of the debt hereb~• sccureci, and the failurz of the mortgagors ; ~ to ct~mply ~~•ith said demand of the Associ.ition for a periai of Thirtv (30) days, shall constikute a breach of this mortqage, . ; and, at the option of the Association, immediatelv mature the entim amount of princi~l and interest herebv secured, and the ~ ~ :lssociation, immediately and ~vithout notice, mav institute proccedinRS t~ foreclose this mortga~e and apph~ for the appointment ~ nf a Recei~•er, as hereinafter provide~l. ~ 5. T'his mortgage contract provides for addition:?1 advances ~~~hich may be made at the option of the association anel ~ secured by this mort~age, and it is agreed that in the event of such advances the amount may be added to the mortgage debt _ :inci shall increase the unpaid balance of the note hereby secured by the amount of such advance and shall be a part of said " note indebtedness under all the terms of said note and this contraM as fully as if a new such note and coniract ~~•ere executecl - :ind ~lelivered. An additional advance a~reement ma~• be given and acceptecl for such advance ancl provision ma}• be made for ~ ~ ~lifferent monthlv pat•ments : nd a different interest rate and other express modifications of ihe contract, but in all other respects ~ ihis contr<~ct shall remain in foll force and effect as to said indebtedness, including all advances. ~ ~ 6. If anv of the sums of muney herein referred to be not promptly and fullv paid w•ithin Thirty (30) days next aftcr the same severally rnme due and payable, or if each and every the stipulations, aercement, conditions, and covenants of said ~ promissory note and this deed, or either, are not duly performed, complied with and ~bided 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 ~ shaU become due and pa~•zble forihwith or thereaEter at the option of the Asso,^.iztion, as fully and rnmpletely as if said aggregate ~ sum af money was originally stipulated to be paid on such day, am~thing in said promissory note or herein to the contrarv not- i ~ withstanding. ~ " ` ~ ~ To deli~-er to the Association, on or before \tarch l~th, of each ~~car, tax receipts evidencing the payment of all ]a«-- ~ hdly im[~s~1 taxes for 1he preccding calendar ~•ear; to deliver to the Association receipts evidencing the payment of all liens ; ~ for pub ~l'c improvements w~thin ninety (90) days after the same shall become due and payable, and to pay or discharge within ' ~ ninety (90) da~~s after due date, an~• and all govemmental levies that may be made on the mortg:~ged property, on this mort~;age i ~ nr note, or in an}' other way resultin~ from the mortgago iodebtedness secured by this mortga~e. ~y ~ ~ 252. FA~ 4~. ~ ~ r_.