The URL can be used to link to this page

Home My WebLink About0742 at all times peuceably and quiedy to enter upo~, }wld, occupy and enjoy sa?d land; that said land 'u free from all encumbrac?ces; that they will r~ke such furthar sssuranoet bo perfect the fee dmple title to said land in the Association as may reasonably bc reqwred, and tbat they do hereby fully warrant the title to aaid land and will defend the sAme against the lnwfu! claims of ~ all persons whomsoever, i PROVIDED ALWAYS that if the Mortgagors shall well und truly pay unto the Association, the indebtedness evidenced ' by that certain promissory note, of even date ber8with, made by the I~lorigagors nnd pavable to the Associatian, in the principal ~ sum of . THIRTY ONE THOUSAND ONE HUNDRED AND NOI 1 OOths ---~14,~~ ~ a 31, 100. 00 ~ - - , , interest a ents ' .~~hich note, together with interest thereort as therein specified, is payable in monthly installments of P Y?~ I due on August 1, _ 19?6, September 1, 1976 and then TWO HUNDRED FIFTY FIVE and ?0/ 100ths---------------------------.--,------------,-_--_----_-_--_-.-_------_-----_------_ -------------------------------------------------------------Doll _ - - - - - - . - - ars ~s .255.,70 - - : on the- --18t _ _._day of each month cummencing ~vith._-- - __--OCtObel` lSt,--_1976--------- ---.------_--------which payments : .ue to be :?pplied, first to interest, and the balance to prinripal, unW said indebtedness is paid in fuU, and shall perfornn, oomply with and abide by each and every the stipulations, agreements, conditions and rnveaants of said promicsory note and this modgage, Md, including any advances made by the Association to the Mortgagors, or their successon in tidC, for any pvrpo6e, ~ at any time before the release and cancellation of this mortgage, but at no time shall this mortg~ge secure advances on account ~ of s:?id original note together ~vith such additional actvances in a swn in eacess of__ TI3IRTY ONE_THOUSAND ONE ~ HUNDREI~ AND NO/ 100ths------------------. ~s 31,.100. 00___~~ p~~ any advances necess~rv f ~ - to protect the security and costs, then this deed and the estate hereby created shall cease and be null and void. ` AND THE 11iORTGAGORS DO hereby cuvenant and agree: ~ 1. To pay all and singular the principal and interest and other sums of money payable by virtue of said promisu?ry note and this mortgage, or either, prompily on the days respectively the same severally come due. - 2. To pay a11 and singular the ta.ces, assessments, levies, liabilities, obligations and incumbrances of every nature and kind now on said described prnperty, or that hereafter may be imposed, suffered, placed, tevied, or assessed thereon, or ihat hereafter may be levied or assessed upon this ~fortgage, or the indebtedness secured hereby, cach and every, when due and payable, accorcting to 1a~v, be[ore they be~come delinquent, and before any intersst attaches or any penalty is incurreci; and insofar as any thereof is of record the same shall be prompdy satisfied and discharged of record and the original official document (such ss, for instance, the tax receipt or the satisfaction paper officially endorsed or certifiecl) shail be placed in the hands of said Association as ifortgagee within ten davs next after payinent; and .in the eveni that any ihereof is not paid, satisfied and discharged, said Association may at any time pay the same or any part thereof ~vithout waiving or affecting any option, lien, equih~ or right under or by virtue of this ~tortgage, and the full amount of each and every such payment shall be immediately due andpa yable ~ and shall bear interest from the date thereof until paid at the rate stateci in the note secured hereb~• ;+nd to~ether ~vith such inter- est shall be secureci by fhe lien of lbis hiortgage, ~ 3. To keep the buildings and all equipment and personal property now or hercatter on said premises tovered by this mortgage, i~uuted in a sum equal to at least the amount ot ehe mortgage, or an amoune suE[icient to mmply with any co-insurance tequin- i ment covering the same under the laws o[ the State of Florida. rnvering loss [rom both Ein and storm. mating the loss under uid ~ policies, each and tvery, payable to the Association, as mortgagee, a~ iu interest may appear. and said insunnce shall be in a g~ood and responsible insurance company satisiactory co said Association, and written br a mponsible lon] agent satisfactory to said Asso- ~ ciation: and the policy or policies shall bear a standard -mortgage clause without contribution. and, if the original prinapal amount ~ o[ the mongage is Fi[cy "I'housand and noJ100 Dolla~s (s50,000.00) or in excess thereoE. s6a11 be held br the Associati~n, and. in ; che e~•ent anY sum oE money_ becomes payable under such policy or policies, the Association shall have the option to receive and applr ~ the same on account of the indebtedness hereb} secured, or to permit the mortgagon to receive and use it, or any part thereof, for i other purpoaes, without thereby waivin~{ ot impairing anr equity, lien, or right under and by vinue oi this mottgage, and may place and pay [or such insurance, or any part thereot, without wai~•ing or a(tecting its option to [oredoae, or anr right hereunder. and the [ull amount of each and every such payment shall be immediately due and payable and shal! bear interest [rom the date thereoE until paid at the rate stated in the note secured hemby and together with such interest shall be secured by the lien oE this :?longage. _ 4. To rmit, commit, or suffer no waste irn airment or deterioration of ~id ro rt• or an thereof and u n ~ PQ , P . P I~ Y P~ ~ ! the failuro of the mort~agors to keep the buildings on said propert~~ in good condition of reirair, the As~ociation may demand t~he ~ immediate re~ir of s:iid bu:ldings or the immcdiate relxiyment of the ciebt hereby secured, and the failure of the mortgagors ± to rnmply ~vith said demand of the Associltion for a period of Thirty (30) days, shall constitute a breach of this mortgage, ; and, at thc option of the Association, immecleatelv mahire the entire amount of principal ar.d interest herebv secured, and the S Ass~ciation, immediately and without notice, may instihrte proceeclin~s to foreclo.se thu mortgage and apph~ for the appointment ; of a Recei~~er, as hereinafter provided, t 5. This modgage contraM provides for additional advaucrs ~vhich may be made at the option of the associadon and secured by this mortgage, and it is agreeci that in the event of sueh advanees the amounE may be added to the moctgage debt and shail increase the un~aid balance of the note hereby secured by the amount of such advance and shall be a part of said note indebteclness ander all the terms of said note and this contract as fully as if a new such note and contract ~.•ere executecl and delivered. An :idditional advance agreement may be given and accepted for such advance and pmvision ma~• be made for different monthly payments : nd a different interest rate and other express modifications of the contract, but in all other respects ihis contract shatl remain in falt fome and effect as to said indebtedness, iocluding al) advances. 6. If any of the sums of muney herein referred to be not promptiy and fullv Eraid within Thirty (30) days .next after the same sever.~lly come due and p~.yable, or if each and every the stipulations, agrcement, conditions, and covenants of said promissory note and this deed, or either, aze not duly performed, complied with and abided by, the aggregate sum mentioned in said promissory note and any other amount or amounts added to the mortgage indebtedness under the terms oE this mortgage shall Uecome due and payable forthwith or thereafter at the option of the Association, as fully and completely as if said aggregate sum of money was originally stipulated to be paid on such day, anything in said promissory note or herein to the c~trarv nd- withstanding. ' 7. To deliver to the Association, on or Uefore :ltarch l~th, of each year, tax receipts evidencing the payment of all law•- fully imposed taxcs Eor the prececling calendar vear; to deliver to the Association receipts evidencing the payment of all liens for pub3ic im~rovements w7thin ninety (90) clays after the same shap t~etomc due and payahle, and to pay or discharge within ninety (90) ays after due date, any and a11 govemmental Ievies that may be made on ihe mortgaged property, on this mortgage nr note; or in any other way msulting from the mortgage indebtedness secured by this mortgage. ~ 254 ~;,~_F 742 ~ ~ _ , _ _ _ - - ~:r~