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Home My WebLink About0141 i ~ . ~ k . ~ ! at all times peaccably und quietly to enter upon, hold, cxrupy and c~joy said lund; that s:iid land 'u free from all encumbrances; i that they will make such further assuranc.~es to perfact the fee dmpl@ title to said lsiad in the Asscxiation as may masonably bc } required; and that they do hereby fully wamtnt the title to said land and ~vill deEend the sume against the lawful claims of ~ :ill perso~u ~vhomscever,- ~ PROYIDED ALWAYS th:d if the I~1odgagors shull weU und truly pay unto the Association, the indebtedness evidenced ~ by that certain promissory note, of even d8te herewith, made by the ~lortgagors and pavable to the Asu+ciatia~, in the prinripa) FORTY TWO THOUSAND AND NO/100ths-------------------po1~:~rs (s 42, 000.00 .um of _ . ~.•hich note, together ~~~th interest thereon as themin specifiecl, is p:?yable in monthly ~nScanme~~S ~F ~terest payments_ due on July 1 st, 19?6, August 1 st, 1976, September 1 st, 1976 and then THREE HUNDR~D ~ORTY FIVE AND 31/100ths-----------------_---_----_-----_-------------------------- ---------------_---------------_---------Doll3rs (s ..345. 31 . - 4 1~ October 1 st, 1976 which ments on the. . - day of each month a~mmencing ~vith . . - - PaY :u~e to be upplied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, oomply .~•ith and abide by each and every the stipulations. agreements, conclitions und rnvenants of said promissory note and this mortgage, And, including any advances made by the Association to the Mortgagors, or their successors in tidC, for any purpose, ~ at any time before the release and rancellation of this mortgage, but at no time shall this mortgage seciue advances on account FORTY TWO THOUSAND AND + <3, said origina! note to~ethec with such ad~itional advances in a sum in excess of--------------------- - ~ i NO~l00ths-------------------_----_---------_-flollars (s 42, 000. 00--), plus any advances necessary ~ - to protect the security and costs, then this deed and the estate hemby createcl shall cease and be null and void. ( AI\D THE ~tORTGAGORS DO hereby cuvenant and agree: 1. To pay all and singular the principal and interest and other siuns of money payable by virtue of said promissorv note : .~nd this moitgage, or cither, promptly on the day5 respectively the same severally come due. ` 2. To pay all and singular the taxes, assessments> levies, liabilities, obligations and incumbranres of every nature and kind ~ now on said drseribed pmpedy, or that hereafter may be imposed, suffemd, plaeed, leviecl, or assesseci thereon, or that hereafter rnay be levied or assessed upon this \tortgage, or the indebtedness securecl hereby, cach and every, .vhen due and payable, i .~cconling to la~v, before they become delinqaent, and before any interest attaches or :m~~ penalty is incurrrd; and insofar :?s .~nv thereof is of mcord the same sl~all be promptly sati.fied and disehargecl of reeord and ihe original oEficial document (such 1s, for instance, the tax receipt or the satisfaction paper officiall,v endorsed or certifiecl) s}iall be placed in the hands of said ; Association as ~fortgagee wlthin ten days next after payment; and in the event that anv thereof is not ~id, satisfied and discharged, 9 taicl Association may at any time pa~~ the same or any part thrreof ~~tithout ~vaiving~or affecting any option, lien, equitv or right i~nder or b~~ virtue of this \tortgsge, and the full amount of each and every such payment shall be immecliately due andpa yable and shall bcar interest from the date thereof until paid at the r.?te stated in the note secured hereb~• and to~ether ~vith such inter- ~st shall be secw~eci bv the lien of this I~tortgage. ' 3. To keep the buitdinqs and all equipment and personal propertp now or hereaEter on said premisex covered by this mortgage, y insured in a sum equal to at least the amount ot the mongage, or an amount sufticient to comply with anr co-insurance require- : :nent co~~eting the same under che lavrs o( the State of Florida. co.ering loss trom both tire and storm, making the loss under said ' E>olicies, each and eeery. payable to the Association, as mortgagee, a~ its interest may appear, and said insurance shall be in a good and responsible insurance company satisfactory to said Association, and written by a responsible local agent satis(actory to said Asso- ~ <iation; and the policy or policies shall bear a standard mortgage dause without contribution, and, if the oriqinal principal amount ! o! the mortgage is Fi(ty 7~housand and no j 10(1 Dollars (550.000.00) or in excess chereof, shall be held by the Association, and, in ; ! the ecent 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 ot the indebtedness hereby secured, or to permit the mortqagon to mceive and use it, or any part thereof, for ? other purposes, without thereby ~ivinq or impairing any equity, lien, or right under and by virtue of this mortgage, and may : ~ place and pay [or such insurance, or any part thereof, without wai~ ing or a[(ecting its option to foredoae, or any right hereunder. ; ~ :~iid the fuU amount of each and e~•ery such payment shall be immediately due and payable and shall bear interest from the date = ~ tt~ereoE witil paid at the rate stated in the note secured hemby and together with such interest shall be secured by the lien of this ~ ~ \fortgage. t. ~ 4. Z'o permit, commit, or suffer no w~.~te, impairment or deterioration of wid propert~•, or :?ny I~rt thereof, and upon ~ ~ tl~e failuro of the mortgagors to kecp the buildings on said propcrt}• in good condition of repair, the Association may demand the ~ irnmediatc repair of said bu;ldings or the immediate mpa}~nent of the debt hereby sec:urecl, and the failure of the mortgagors ~ ~ to comply ~vith said demand of the Association for a peri«1 of Thirty (30) da~~s, shall constitut~ a breach of this mortgage, and, at the option of the Association, immediately mature the entire amount of principal and interest herebv secured, and the ~ :lssociation, immediatcly and without notice, may insNtnte proccedin;s t~ foreclose this morti;a~e and apph• for the appointment ~ ~ ~~f a Recei~•er, as hereinafter pmvide~l. ~ ~ ~ This mortgage contract provides for additiun:~l advancrs ~~~hich may be made at the option of the association and ~ ~ secured by this mort~age, and it is agreed that in the event of such advances the amount may be addecl to the mortgage debt a ~ ~~nd shall incrcase the unpaid balance of the note hereby secured by the amount of such advance and shall be a part of said ~ ' nnte indebtedness under all the terms of said note and this contract as futly as if a new such note and coniract ~.~ere executecl = .~nd delic~ered. An additional advance a~reement mav be given and accepted for such advance and prorision ma}' be made for $ ~lifFerent monthlv pa~•ments and a different interest rate and other express modifications of the contrac., but in all other respectc ' ~his contracd shall reraain in full force and cffect as to said indebtedness, incl~ding all advances. ~ ; 6. If anv of the sums of money herein referred to be not prompdy and fullv paid ~~-ithin Thirty (30) days next after t s ti?e same severally cY?me due and payable, or if cach and every the stipulations, aorcement, conditions, and covenants of said ~ ~ rromissory note and this deed, or either, are not duly performecl, complied with and abided by, the aggregate sum mentioned ~ ` in said promissory note ancl anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage # ~ shall become due and pa~•able forthwith or thcreafter at the option of the Association, as fully and completely as if said aggregate ' ~um of money was originally stipulated to be paid on such dav, am~thing in said promissory note or herein to the contrarv not- ~ . . . ~ ~ ~.~~ithstanding. - ~ ~ ~ 7. To deliver to the Associatiun, on or before ~iarch lith, of each ~•ear, tax receipts evidencing the payment of all la«-- fully im~osed taxes for the precrclin~ c:ilrndar year, to deliver to the Association receipts evidencing the ~rayment of all liens ~ ~ for public improvements w~thin ninety (90) day~s after the same shall herome due and payable, and to pay or discharge within ~ ~ ninety (90) da~~s after due date, an~• and all governmental levies that may be made on the mortgagecl property, on this mortgage ~ ~ nr note, or in an~• other Way resulting fmm the mnrtgage indebtedness securecl bv this mortga~e. ; ~ i ~ . _ . Fac~ ~ - ~ ; ~ ~ ~ ~ ~ . ~ : _ -