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HomeMy WebLinkAbout0944 f ; ~ , • { at all tlmespeaceably and quietty to ~ntet upon, hold, oacupy and enjoy siud land; thst satd las~d is frea from all encumbranc~s; ; that they wtl! mak~ sueh further Assurai~ces to p8rfect the fee aimple tItla to said land in tha Associat15n as mny reusonubly be ~ requIred; and that they do hereby fully warrant the tItle to sald land nnd will defend the sume ngt~lnst the Inwful ciaims of 1 ull persons ~vhomscever. ~ PROVIDEL~ ALWAYS that if the I~iortgagors shull well nnd truly pay unto tlie Assoeiatlon, the indebtedness evidenced ; by that cerintn promissory note, of even date herewith, made by the 1~'iortgagars nnd ~lvable to the Association, in the principal i ~`OUR THOUSAND EIGHT HUNDRED AND NO 100 - ~ sum of . ~.•--...__--~•~~-`---'~~°.'.`..Dollars (~..4,.$00..00 ; : t which note, together with interest thereon as therein specifIed, is paynble in monthly instatlments of t~- . . ~ - ~ ~ : i FIFZ'Y.£UUR_ANIJ N01~00__-----.-.-------..~__-_-.. --.---.,-~~""-'-'-------.._.-......Dollars...___-~4 -QO---..._.___... ~ . ~ ~h _._day of each month commencing with__... ~~~~~Y1k24~_,~.Q,~_ pay on the---- - - - - _ ~.~~4...____.__.,..__which ments ~ cue to be applfed, first to interest~ and the balance to principal, until satd indebtedness is paid in full, and sball perform, comply ~ with and abide by each and every ~the stipulations, agreements, conditions and covenants of said promissory note and this morigager And~ ineluding any advances made by the Association to the Mortgagors, ar their successors In tidn, for any purpose, ' at any time before the release and cancellation of this mortgage, but At no time sh~l! this morignge secure advances on nccount oE said originul note together with such udditIonal acivances in a sum in excess of._FOUR, THOUSAND EIGHT HUNDRED AND NO~100 Dollars (~---4a800.00.----). plus any advnnces necessary ' - - to protect the security and costs, then this deed and the estate hereby cre~ted shall cease und be nul! and void. , AND THE MORTGAGOAS DO hereby cuvenant und agret3: r 1. To pay all and singular the prineipal and interest and other sums of money payable by virtue of said promissory note und this mortgage, or either, promptly on tha duys respectively the same severally come due. 2. To pay all and singular the taxes, assessments, levies, liabilities, obllgations and incumbrances of every nature and kind now on suid described pmperty, or that hereaher may be imposed~ suffered, placed, levied, or nssessed thereon, or that hereafter may be levied or Assessed upon this Martgage, or the indebtedness secured hereby, cach and ~very, when due and paynble, accorcling to Iaw, before they become delinquent, und before any interest attuches or any penalty is incurred; and• Insofar ns any thereof is of record the same shnll be promptly sntisfied and discharged of recor~3 and the original offieial document (such as, for instance, the tax receipt or the satisfaction paper afficially endorsed or certifled) shnll be place~l in ths hands of said Association as Mortgagee within ten days next ufter payment; and in the event that any thereof is not paid, satisfied and diseharged, said Associntion may nt any time pay the same or any part thereof ~vithout waivtag o~ affecting any option, lien, equity or right under or by virtue of this I?sortguge, and the full amount of elch and every such payment ~hall be immediately due and payabla and shall bear u~terest from the date thereof until paid at the rate stat~d in the note secured hereby and together with such inter- est shnll be secured by the lien of ihis Mortgage. 3. To keep the buildings and all equipment and personal property now or hereafter on said premises covered by this mortgage, insured in a sum equal to at least the umount of the mortguge, or nn nmount sufficient to comply with any co-insur- ance requirement covering the same under the laws of the State of Florida, covering loss frc~m both fire and storm, making the loss under said policies,--each and every, payable to the Association, as mortgagee, ~s its interest may appear, und said insuranco shall ba in n~ood and responsible insurance company satisfactory to said Assoaiatton, and written by a responsible local agent satisfaetory to said Association; ar?d the policy or policies shall bear a standard mortgage clause without contri6uEion, and shall be - held by the Association, and, in the event Any sum of money becomes payabte under such policy or policies, the Assocf~teon shall have the option to receive and apply tha same on account of the indebtedness hereby secured, or to permit the mortgagors to ~ receive and use it, or any part thereof, for ot}:er purposes, without thereby waiving or impairing any equity~ lien, or right under ~ :ind by virtue of thic mortgage, and may place und -pay for such insurance, or any pait thereof, without waiving or ~fEecting its option to foreclose, or uny right hereunder, and the full amount of each and every such payment shaIl be itrimediately due and payable and shall bear interest from the date thereof until paid at the rate stated in tt,e note secured hereby and together with ~ such interest shall be secure-d by the lien of ,this Mortgage, To permit, commit, or suffer no waste, impairment or c~eterioruteon af said property, or any part thereof, and upon ihe failuro of the mortgagors to keep the buildings on said properiy in good condition of repair, the Association may demand the immedinte repair of suid buildings or the immediate repayment of the debt hereby sec«red, and the failure of the mortgagors to comply with said demand of the Associntion for a period of Thirty (30) days, shall constitute n breach of this mortgage~ ~ and, at the option of the Association, immediatety mlture the entire amount of princi~sal nnd interest hereby secured, and the Association, immediately and without notiee, may institute proceedin;s ta foreclose this mortgage and applv for the appointment ~ of a Receiver, as hereinafter providerl. ~ S. This mortgage contract provides for addltionul advances whieh m~y be made at the option of the nssoeiation and : secured by this mortgage, and it is agreed that in the event of such advnnces the amount may be added to the mortgage debt r and shall increase the unpaid halance of the note hereby secured by the amount of such advance and Shall be a part of saic~ note indebtedness under all the terms of said note and this contract as futly as if a new such note and contrnet were executed ' ~ and delivered. An ndditional advance agreement may be given and ac~cepted for such advanc~e nnd provision may be made for clifferent monthly payments And a different interest rate and other express modifications of the eontract, but in ~ll other respects ? ihis contract shall remain in Eull forca and effect as to said indebtedness, ineluding all udvances. i • . ~ 8. If any of the sums of money heretn referred to ba not promptly and fully paid within Thirty (30) d~ys next after the aame severally come due and payable, or if each and every ihe stipulations, agreement, condiUons, and covenants of said promissory note ana this dced, or either, sue not duly performed, cofiplied with and abided by, the aggregate sum mentioned ~ in said promissory noEe and any other amount or amounts added to the mortgage indebte~lness under the terms of this mortgage ~ ahall become due and payable forthwith or thcreafter at the option of the Association, as fully and oompletety as if said aggregate j sum of money was or~ginally atipulated to be paid on such day, anything in said promissory note or herein to the contrary not- { withstanding. ~ 7. To deliver tu the Association, on or before biareh 15th~ of eoch ye~r, tax receipts evidaacing the payment of ~all law- : fully im~ taxes for the preceding calendur year; to deliver to the Association receipts evldencing the payment of all liens ~ for pub c improvements withtn ninety (90j clays after the same shall hemmcs due and payable~ and #o pay or discharge withirt ninety (90) days after dus date, uny and a!1 govemmental levies tbat may be made on ihe mortgaged property, on this mortgage or note, or in any other way resulting from the mortgage indebtedness secured by this mortgage. ~ BitRK ~G~ ;~[t~~~ . . ~.,.i .