HomeMy WebLinkAbout0654 at all times ~aceably and quiedy to enter upon, hold, o~rupy and c~ijoy said land; that s.1id land 'u frec from all encumbrances;
that they will make such further ass~uances to petfect the fee aimple title to said land in the Assuciution as mav reasonably bc•
rec~uired; and that they do hereby fully warrant the titte to aaid land und «•ill defend the same ~g:?inst the la~~~ful claims of
:~ll pcrsons ~~~humsoevcr, -
PROYIDEU AL~VAYS that if the hlortgagors shall ~vell and truly pay unto the Assoriation, the in~lebtedness evidenced
b~ that certain pmmissory note, of even date herewitb, made bv the rlortgagors And pa~~able to the Association, in thc• princi~x~l
THIRTY FIVE THOUSAND TWO HUNDRED AND NO~OOths 35, 200. 00 '
sum of - - - - _ . . _ . _ _ _ . [Mll:~rs (3
~+~hich note, together ~~~th interest thereon :~s therein sPecified, is puyuble in monthly installments' oE interest payments
due on Uecember_ 18, 1976, January 18, 197?, February 18, 19??, March 18, 1977,
April 18, 1977, May 18, _ 197? and then TWO HUNDRED NINETY FIVE AND 40/ 100ths
----------Doliars(
- - - - - - _ _ . _ ~ - ~ .295. 40 - -
on the. 1_3th_ ~y of ea~h month c~mmencing ~~~th _ _ JuC1e 18th,__1977 _ _ ____W}uch payments ;
are to be applied, first to interest, and the balance to principai, until said indebiedn~ss is paid in ful1, and shall perform, comply
H•ith :utd abide by each and every the stipulations~ agreements, conditions and covenants of said promissory note and thic
mortgage, And, including any advances made by the Association to ihe Mortgagory-, or their successors in tida, for any purpose,
at any time before the release and cancellation of this mortgage, but at no time shall this mortgage secure advances on account
oE said original note together ~vith such additional adva~ices in a sum in excrss oE_._THIRTY FIVE THOUSAND
TWO HUNDRED AND NO/ 100ths------------~~~~~ ~g 35,_200. 00 any advances necess.~er~• ~
- - - - - - - -
to protect the security and costs~ then this deed and the estate hetebt createcl shall cease and be null and ~oid. ~
AND THE rlOR1'GAGORS DO hereby euvenant and agree:
' 1. To pay all and singular the principal and interest and od~er sums of money payable by virtue of said promissorv nute
:~nu this mortgage, or either, prompdy on the days respectively the same severally come due. ~
2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and kiad
no~~• an s.1id described property, or that hereafter may be imposed, suffered, placed, levied, or assesse~ thereon, or that hereafter
may be tevied or assessed upon this A~odgage, or the indebtedness seeurecl hereb~~, rach anci e~~ery, when d~~e and payable,
.?ccorrling to la~v, be[ore they become delinquent, and before any interest attaches or anv penalry is incurred; and insofar as
.~ny thereoE is of rec~rd the same shall be promptly satisfied and dischargecl of record and the original official document (sueh
1s, for instance, the tvc receipt or the satisfaction paper officislly endorsed ~r certifiecl) shc?11 be placed in the hands of said
Association as ~tortgagee within ten davs next after payment; and in the event that any thereof is not paid, satisfied and dischargecl,
said Association may at any time pay the same or any gart thereof ~~tithout waiving ar affecting any uption, lien, equih~ or right
~mder or b~ ~nrtue uf this ~lortguge. and the [ull amount of r.?ch and every such payment shal) be immediately due andpa
yable
and sh.1ll bear interest fmm the date thereof until paid at the rate stated in ihe note sec•i~red hereb~• and to~,ether ~vith such inter-
est sha1) be secured by the lien of ihis l~iortgage, ~
3. To keep the buildings and all equipment and personal property now or herea[ter on said pmmises covered by this mortgage,
insured in a sum equal to at least the amount o( the martgage, ot an amouru sutEicient to comply with any co-insurance require-
ment co~~ering the same under the laws of the Staee of Florida, cocering loss from both fire and storm, making the loss under said
policies, each and every, payabie to the Assoceaeion, as mortgagee, a~ iu interest may appear, and said insurance shall be in a good
and responsible insurance company satistactory [o said Association, and written by a responsible loral agene satis[actory to said Asso- ~
ciation: and the policy or poliries shall bear a seandard mongage dause without contribution, and, if the oriqinal principat amount
of the mortgage is Fifty Thousand and no/100 Doilars (550.000.00) or in excess thereof, shall he held by the Association, and, in
the e~•ent any sum o[ money becomes payable uruler such policy or policies, the Association shall have the option to receive and apply
the same on account ot che indebtedness hemby secured, or to permit the mongagots to receive and use it, or anr part thereof, for
other purposc~s, without thereby wai~•ing or impairing any equity, lien, or right under and by vittue of this mongage, and may
place and pay [or such insurance, or any part thereof, without wai~~ing or af[ecting iu option to foredose, or any right hereunder,
and the fuU amoune oi each and erery such payment shall Ue immediately due and payable and shall bear interest [rom the date
thereot until peid at the rate stated in the note secured hereby and togecher with such interest shall be secured by the lien of this
~longage.
1 O~Plrill[, eommii, OT SU[ICt ilu w.'wiC, :~WL.^..^.°.^.~ i+r /lnfs~rinr~tinn nF c~i~ ~IiO~Tfeit\', O! anv part thereof, and UPOil
the failura of the mort~gors to keep the buildings on said property in good condition of repair, the Association may demand the
immediatc repair of said bu:ldings or the immediate mpa}m?ent of the ciebt hereby sc~cured, anc! the failure of the mortgagors
to complv ~vith said demand of the .~ssociation for a period of Thirty (30) days, shall constitute :i breach of this mortgage,
and, at the option of the .Association, immecliatelv mature the entire zmount of principai and interest herebv sec~red, and the
' .~ssociation, immediately and ~vithout notice, mav institute proceedin ~s to foreclose this mortgafic and apph~ for the appointment
of a Recei~~er, as hereinaker provide~l. ~
S. This mortgage contr:~ct provides for additional advances ~~•hich may be made at ti~e option of the assockztion and
secured by this mort~age, and it is agreed that in the event oE such ad~•ances the amount may be addecl to the mortgage debt
:~nd shall increase the tuzpaid balance of the note hereby secured by the amount of such advanre and sh.zll be a part of saicl
note indebtednes~s under all the terms of said qote and this contract as fully as if a new sueh note and contract «•ere esecuted
:md delivered. M additional advance agreement ma~• be given and acceptecl for such advance and provision ma}• ~e ma<le for
ctifferent monthiv pa~•ments :.nd a difierent interest rate and otner etpreu r.~~ifications cf ihe cantr;zct, but en all other rPSj~tc
chis contt~ct shall remain in full force and effect as to said inclebtedness, including all advances.
6. If anv of the sums of money herein referred to be not prompdy and fullv paid ~~•ithin Thirty (30} days next aftcr
the same severally come due and payable, or if each and every the stipulations, agrcement, conditions, and covenants of said
promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned
in said promissory note and anv other amount os amounts added to the mortgage indebtedness under the terms of this mortgage
sha11 become due and pa~~ble farthwith or thcreafter at the option of the Association, as fully and rnmpletely as if said ag,~regate
sum of money ~vas originally stipulated to be paid on such dav, anvthing in said promissory note or herein to the contrary not-
; ~vithstanding. ~ ~
I i. To deliver to the Association, on or before ~tarch 13th, of each ~•ear, tax receipts evidencing the payment of all la~~•-
~ fully imposed taxes for the preceding calenda~ vear, to deliver to the Association receipts evidencing the payment of all liens
for pubjic improvements H7thin ninety (90) days after the same shall }~ecomc dne and payable, and to pay or discharge within
~ ninety (90) da~~s after due date, any and all govemmental levies that may be made on the mortgaQed pn~perty, vn this mortgage '
or note, or in any other way msulting from the mortgage indebtedness securcci bv this mortga~e.
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