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Home My WebLink About0586 at aU times~~eacrably and quietly to enter upon, huld, ocrupy and cnj~~y said lu~~d; that said t:uid 'u Erec from all encumbrances: that they will make such further assurances to perfect the fee simple title to said land in the Associution as mav reasor?aibly be~ required; and that they do hereby fully warrant the title to said la~~d und will defend the same Against the la~~•ful claims of all persons whomsoever. PROVIDED AL~VAI'S that if the \lortgagors shall well and tnily pay unto the Associxtion, the indebtedness evidenced by that certain promissory note, of even date herewith, made bv the I~lortgagors and payable to the Assnciation, in the principal .um of _SEVEN THOUSAND FIVE I~UNDRED AND NQ/100ths----=----i~llars (s 7.500. 00 .~~hich note, together «•ith interest thereon as thercin specifieci, is ~:tyuLle in monthlv installments oE NINETY FIVE AND O1/100ths----------- ------~ollars ( . _ _ _ - - - - - . . _ - _ . s - 5 1 _ on the 20th day of each month c~mmencu~g ~vith . ----JUly___2_Othj,__1976 - ----.which payments are to be applied, first to interest, and the balance to principal~ until said indebtedneu is paid in full, and shall perform, oomply with and abide by each and every the stipulations, agreemrnts, conditions and covenants of said promissory note. and this mortgage, And, including any advances made by the Association to the Nodgagon, 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 secure advances on account of said original note together with such additional advances in a sum in escess of._.SEVEN THOUSAND FIVE HUNDRED AND NO/ 100ths------------------ po]~a~ (3 ?i 500, 00__ P]~ anv advances necessan• _ - - - - - - - - - . - - - . to protec~t the secwity and costs, then this deed and the estate hemby createcl shall cease and be null and void. AND THE TiORTGAGORS DO hereby cvvenant and agree: i. To pay all and singular the principal and interest and other sums of money pa}'able by virtue of said promissory notc .uid ihis mo~tgage, or either, prompdy on the days respectively the same severally come due, 2. To pay all and singulaz the taxes, assessments. levies, liabilities, obligations and incumbrances of every nature and kind now on slid deseribed property, or that hereafter may be imposed, suffen~cl, plaeecl, leviecl, or assessecl thereon, or that hereaEter may be levieci or assesse~l upon this \tortgage, or the indebtedness serurecl hereby, rach and even•, when due and payable, :,cconl'u~R to la~v, before they become delinc~uent, and before any interest attaches or any penalty is ineurred; and insofar xs any thereoE is of record the same shall be promptly satisfied and discharged of r~cord and the original official document (such 1s, for instance, the tax receipt or the satisfaction paper officially endorsed or ceriified) shall be placed in the hands of said Association as ~fortgagce within ten da~~s next after payment; and in the event that any thereof is not paid, satisfied and discharged, said Association may at any time pa~• die same or any part thereof ~vithout ~vai~~ng or affecting any option, lien, equih~ or right under or by ~1rtue of this ~tortgage, and the full amount of each and every such payment shall be immecliately due andpa yable and shall l~ear interest from the date thereoE until paid at the rate stated in the noie secured hereb~• and together with such inter- est shall be secured by the lien of this :lfortgage. 3. To keep the buildings and all equipment and personal property now or hema[ter on said premises covered by this mortgage, insured in a sum equal to at least the amount ot the mongage, or an amount su(ticient to camply with any co-insurance require- ment covering the same under che laws of the Swte ot Florida, covering loss trom both tire and storm, making the loss under said policies, each and e~~ery, pa}able to the Association, as mortgagee. as its interest may appear, and said insurance shall be in a good and responsible insurance compau}' satistactory to said Association, and Nritten by a responsible local agent satisfattory to said Asso- ' ciation: and the ~wlicy or policies shall bear a standard mortgage dause without contribution, and, if the original principal amount i oi the mongage is Fi(ty 7'housand and no! I W Uollars (550.000.00) or in excess thereot, shall be held by the Association, and, in i the e~•ent any sum ot money becomes pa}able under such policy or policies, the Association shall have the option to receive and apply the same on account o[ the indebtedness hereb}' secured, or to permit the mongagora to receive and use it, or any part thereof, for f other purposes, without thereby wai~•ing or impairing any equity, lien, or right under and by vinue of this mortgage, and may ; place and pay [or wch i~uurance, or any part thereo(, without wai~~inR or a(fecting its option to toredose, or any right hereunder. ' t and the [ull amount oE each and e~~er} such payment shall be immecliataly due and payable and shalt bear interest [rom the date F ehereot until paid at the rate statecl in the note secured hereby and together with such interest shall be secured by the lien of this ~ \fortgage. . • ~ -1. To permit, commit, or suffer no waste, impairment or dcterior:ition of said propert~~, or :iny I~rt thereof, and u~n ~ the failure of the mort~agors to keep the buildiugs on said propert~~ in good condition of repair, the Association may demand the ~ immediatc rc}~~r of said bu:ldin~s or the immediate repat~ment of the debt hereby securecl, anJ the failure of the mortgagors to comph• ~~•ith said clemand oE the Association for a pericxl of Thirty (30} d:iys, shall constitute a breach of this mortgage, ~ and, at the option of the Association, immedinteh~ m:rture the entire amount of principal and interest herebv secured, and the :lssociation, immediatcly ancl ~~~ithout noticc, mav insNtute procre~lin~s tn foreclose this mort~afie and appl~• for the appointment c nf a Recei~~er, as hereinaEter provide~l. ~ ~ S. This mortgage contract provides for additiunxl advances ~~•hirh 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 added to the mortgage debt ~ ~ :md shall increase the unpaid balance of the note hereUy secured by ihe amount of such advance and shall be S P.1(I of said r ; note indebtedn~ss under all the terms of said note and this contract as fuqy as if a new such note and contract ~~~ere executed md ~leli~•ered. An additional advance agreement may Uc given and accepiecl for such advance and provision m:~~• be made for i clifferent monthh~ pa}•ments ~ nd a different interest rate and other express modifications of the eontraei, bu~ in all~other respee~c 3 ; ihis contr.tct shall remain in full force and effect as to said indebteciness. including al) advances. ~ ~ 6. If am• of the sums of muney herein referred to be not promptly and Eully paid w•ithin Thirty (30) days next after ~ the same severally come due and payable, or if each and every the stipulations, a~reement, conditions, and covenants of said ~ ; promissory note and this deed, or either, are not duly pedormed, complied ~~•ith 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 mortgagc ~ shall beeome duc and pa~~sble forthwith or thereafter at the option of the Asso^.iation, as fully and completely as if said aggregate . ~ sum of monev was originally stipulated to be paid on such dav, am~thing in said promissory note or herein to the contrarv not- ~ .~~thstanding. . . . ~ ~ 7. To deli~~er to the As.tociation, on or before ~tarch lith, of each ~~e.ir, tax receipts evidencing the payment of all la~~•- ~ f~~lly imnosed taxes for the precrdin~ calendar vear; to deliver to the Association receipts evidencing the payment of all liens ` f~~r pub~ic improvements ~~•ithin ninety (90) days after the s.~me shall hecomc due and paya6le, and to pay or d'ucharge within ~ ~ ninety (90,'• da~•s after due date, an~• and all governmental levies that may be made on the mortgaQed property, on this mortRagP ~ ~ nr note, or in an~• other w•ay resultin~ fn,m the mc,rtgage indebtedness secured bv this mortRai~e. ~ { ~ ~ ~ ~5~ Fnc~ ~ . ~ ~ e~ _ ; ~ ~~r_~._= v~.. . - _ _ ~