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Home My WebLink About0933 at all times pcaceably and quietly to eater upon, hold, occupy and enr?y said lx~id; that said land is free fmm aU encumbrances; that they will make such furth~ assurar~ces to perfect the fee simple title to said land in the Association as may reasonably be required; and that they do hereby fully warrant the tide to said land and ~vill deEend the same ngainst the lawful cluims of all persons whomsoever. PROVIDED ALWAIS ihut if the I~lortgagors shaU ~vell And tndy puy unto die Assc~ci:?tion, the i~~debtedness evide~iced by that certain promissory note, of even date herewith, made by the ~tortgagon and ~~•sble to the Assockltion, in the principal sum of .THIRTEEN THOUSAND FIVE HUNDRED AND NO/100ths-----~~~,~~ ~a 13, 500, 00 which note, together ~~~th interest thereon as themin specified~ is p:?~:ible in monthly installments of ONE HUNDRED SEVENTY FOUR AND 66/ 100ths on the 20th day of each month commencing with July 20th, 1976. This is a balloon mortgage with the entire principal due a.nd_payable on June 20th, 1981.- - - - - ~61~a~ ~~1. ---.whuh ents d~l J~~ l.l l l l l l.l l~f b~1~~f M6dd~/a6~h~kdd~,~/,~IN - '~r~ are to be applied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, oomply with and abide b each and eve the sti ulations a ments, conditions und covenants ~ of said promicso note d this ~~~a~~d~ ~~~1 ~t~~~~~ %~d~i?~A/a+~Ii~i~~ ~~~t~ ~J~~IaI~d~~~ ~N~~~~ d~~ Yr~ ~d~~~ ~ ~ ~ d~l~t~d/~~~~~/~bl~l ~6~~~t~~,l~rh/~N ~da~da~~tV~~G~t?khl ~l~l 1~,4d k~~l~------------ - - - - - ~iidd:al~/ - - _ _ - ~~4,~ bl ~l ~d~6/~ t~l~L~t• - - - - - - - - t~?~~ ~t~Ie/s~~i~~~c~~I, then this deecl and the estate hereby ereatecl shall eease and be null and void. AND THE 1110RTGAGOAS ~O hereby cuvenant and ag:ee: 1. To pay all and singular the principal and interest and other sums of money payable by virtue of said promissorv note ;~ncl this mortgage, or either, promptly on the days respectively the same severally come due. 2. To pay aU and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind now on said described property, or that hereafter may be imposecl, suffereci, placecl, levied, or assessed thereon, or that hereafter may be leviecl or assessed upon this ~tortgage, or the indebtedness seeurecl hereby, eaeh and e~~ery, ~vhen due and payable, :,ccording to law, before they bec.~ome delinquent, and before any interest attaches or :iny penalty is incumed; and insofar ,u any thereof is of record ihe same shall be prompdy satisfied and dischargecl of record and the original oEficial document (such as, for instance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placeci in the hands of said ~ Association as ~iorigagee within ten days next aEter pa~nnent; and in the event ihat any thereof is i~ot paid, satisfied and discharged, said Association may at an~ time pay the same or any part thereof ~vithout ~vaiveng or affecting any option, lien, equitv or right i~nder or bv ~7rtue uf this \forigage, and the full amount of each and every such payment shall be immecliately due and yable and shall t~car interest from the date thereof until paid at the r.?te stateci in the note secured hereb~• and tc~ether with suc~inter- est shall be secured by the lien of ihis Aiortgage. 3. To keep the buildings and a11 equipment and peisonal propertY now or hereafter on said premises covered by this mortgage, insured in a sum eyual to at least the amount o( the mortgage, or an amount sufficient to comply with any co-insurante require- ment covering the same under the laws of the State ot Florida, covering loss fmm both fire and storiu, making the loss under said t policies, each and e~•ery, payable to the Association, as mortgagee, ac iu interesc may appear, and said insurance shall be in a good ~ and tesponsible insurance company satis[actory to said Association, and written by a responsible local agent satisfactory to said Asso- ; I ciation: and the policy or policies shall bear a standard mongage dause Nithout contribution, and, if the original pcincipal amount ' ; oi the mongage is Fi(ty Thousand and no/ 100 Dollars (550,000.00) or in excess thereof. shall be held by the Association, and, in j the e~~ent any sum of monev becomes payable under such policy or policies, the Association shall have the option to receive and applr I the same on account of the indebeedness hercby secured, or to permit the mongagors to receive and use it, or any part thereof, for ~ ocher purposes, without thereby wai~•inR 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 thereot, wi[hout wai~~ing or affecting its option to toreclose, or any right hereunder, ~ and the [ull amount o[ each and e~~ery such payment shall be immediately clue and payable and shall bear interest fmm the date thereo[ until paid at the rate stated in ehe note secured hereby and together with such interest shall be secured by the lien of this i € Alortgage. ~ To permit, commit, or suffer no u•aste, impairment or detcrior<ition of s:?id propert~~, or any part thereof, and upon ; ~ t6e failure of the ,::L*!r ~gors to keep the buildin~s on said propert~• in goocl condition of repair, the Association may demand the : immecliate repair of said bu~ldinos or thc immediate mjxiyment of the debt hereby sec:urecl, :mel ihe failure of the mortgagors ; ~ to comph~ ~vith said demand of the Association for a rericxl of Thirty (30) da~•s, shall constitute a breach of this mortgage, ~ and, at the option of the Association, immecliately mature the entire amount of principal and interest herebv secured, and the ; ~ .-lssociation, immediately and without noticr, mav ins6h~te proceeclin~s t~ foreclose this mortRafie and apph• for the appointment p of a Recei~•er, as hereinafter prm•edecl. ~ a ° 5. This mortgage contract provides for additional advanccs ~~~hich may be made at the option of the association and ~ secured bv this mortgage, and it is agreed that in the event of such advances the amount may be addecl to the mortgage debt ~ ~ and shall increase the unpaid balance of the note hereby secured bv ihe amount of such advance and shall be a part of said } ~ z~ote indebtedness tmder all the terms of said note and this contract as fully as if a new such nole and contract ~~•ere executed :~nd deliverecl. An additional advance agreement ma~~ be given and acceptecl for such advance and provision ma}' be made for ~ clifferent monthlv pa~•ments ~ nd a different interest rate and other exprecs modifications of the contract, but in all other respectc~ ~his contr,?et shall remain in full force and effect as to said indebteclness, including all advanees. ~ 6. IE anv of the sums of muney herein referred to be not prompdy and fulh• paid within Thirty (301 days next after < i the same severall,v come d~~e and payable, or if each and every the stipulations, agreement, conditions, and covenants of said j ~ promissory note and this dced, or either, are not duly performed, complied with and abided by, ihe aggcegate sum mentioned ~ : in said pmmiccorv nnte and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage ~ ~ shall become due and pa~•~ble forth~vith or thcreafter at the option of the Association, as fully and completely as if said aggregatc ~ sum of money was originally stipulated to be paid on such dav, am~thing in said promissory note or herein to the contrarv not- ~ ` withstanding. . . , ~ ` 7. To deliver to the Association, on or Uefore ~iarch Iith, of each year, tax receipts evidencing the payment of all la«•- ~ ~ fnily imposed taxes for the prececling calendar vear,'to deliver to the Association receipts evidencing the payment of all liens ~ for public improvements w~ithin ninety (90) days after the same shall becomc due and payable, and to pay or discharge wichin ~ ninety (90) da}~ after due date, an~~ and all govemmental levies that may be made on the mortgaged property, on this mort~age ~ ~r note, or in an~• other way residting fmm thP mortgage indebteclness seeared bv this mortgagc~. ~ ' ; i ~ ~ ~ ~ 254 r~cE 933 ' ~ ~ :Y ~ _ - - _ _ »