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HomeMy WebLinkAbout0950 ~ at all ttmespeaceabty and quietly to enter upon, hold, occupy pnd enJoy s,zid land; thnt satd land is freo from a!1 encumbrances; , ihat they will make such fudher assurance~ M perfect khe fee aimple title to said land in tha Associatlon as may reasonably be requlreci; und that they do hcraby fully tvarrant the title ,to said lund and ~vill de[end tho s~me ngainst tha lawful cinims of ail persons whomscever, PROVIDED ALWAYS th~t if the Mortgagors shull well And tn~ly pay unto the Associntlon, the indebtedness evide~iceci by that certain promissory note, of even date herewith~ made by the I~4ortgagors nnci pavuble to the Associntioa~, In thc principl! sum of _..THREE THOUSAND EIGHT HUNDRED.AN~_NO/100__--,-_---.-~ Doll~rs (~.3~.800.00. ; i ~ which note, together with interest thereon ns theretn specified, is payable in monthly instnllments of . ; , - . ~ - t - . ---~'-'-T.FTY.ONE AND_NO~(100._-_-_---_-.----"---~---------------------------------------------------------~--•-------Dollars {a..5~_. ~9...--------- ' ! on the_...._2.Uth,.__...day of each month commencing with.--•-----------•----._I2~CEmU~,r2Il~._19.6_4----------•...._...._.which payaments ; nre to be i~pplied, first to interest, and the balance to principul, unttl said indebtedness is paid in full, and shall perform, co~nnply 4; with and abide by each and avery the stIpulatlons, agreements, conditions and rnvenants of said promissory note and this , mortgage~•And, including c+ny advances made by the Associution to the Mortgugors, or their successors in title, for any purpose, f at any time before the release and cancellntion of thls mortgage, but ut no time shall this mortgage secure advnnces Qn uccount ~i . THREE THOUSAND_EIGHT___. # of said originnl note together with such additionAl ttdvunces in a sum in excess of_____________________ ~ HUNDRED A~V'D NO/ 100 -----Dollars (~__.~,_800._00.----)~ plus any advunees necessnry ~ - ~ to protect d~e secwity und costs, then this deecl and the estute l~ereby cre:?ted sli~ll ~ense und l~e ntill and void. AND THE MORTCAGORS DO hereby euvenant and agree: ~ . 1. To pay ull and singular the principa1 and interest and other sums of money payuble by virtue of said promissory note ~nd this mortgag~, or either, promptly on the days respectively the same severally come due. 2. To puy atl and singular ihe tazes, assessments, levles, liabilities, obllgntions and incumbrances of e~ery nature and kind naw on said described propercy, or t}aat hereafter may be imposed, suffered; plared, levied, or assessed thereon, or that hereafter may be levied or assessed upon this Mortgage~ or the indebtedness securecl hereby~ cach and every, when due and payuble, ; . acconling to law, befora they b~come delinquent, anci before an interest uttaches or teny penal is incurred, and Iruofar us any thereof is of record the same sl~all be promptiy satisfied,andydischargecl of record and the onginal officiul document (such as, for instance, the t~uc receipt or the satisfuction paper officinlly endorsed or certified) shall be placed in tha hands of said ; Assaciation as ~?~iortgagee within ten days next aEter payment; and in the event that any thereof is not Iraid, satisfied and discharged, f saId Association may at any time pay ihe same or any part thereof ~vithout waiving or affecting any option, lien, equity or right ~ under or by virtue of this riortgage, and the fult amount of e~ch anc~ every such payment shall be immediately due andpa yable and shall bear interest from the date thereoF until pnid at the rate stated in the note secured hereby and together with such inter• est shall be secured by the ]ien of this Mortgage. 3. To keep the buildings and all equipme;~t And personal property now or hereaEter on said premises covered by this martgage, insured in a sum equal to at least the nmount of the mortga~e, or an amount sufficient to comply with uny co-insur- ~ unce requirement covering the same under the laws of the State of Florida, covering loss frc~m both fire und storm, making tho loss under snid policies, each and every, payable to the Association, ~;s mortgagee, ns its interest may appeur, und said insuranca ~ shall be in a gc?od and responsible insurance company satisfactoty to s.1id Association, and written by a res~onsible local agent ; satisfaetory to said Association; and the policy or policies shall bear a standard mortgage clause without contribution, and shalt be ~ held by the Association, and, in the event Any sum of money becomes payable under st;ch policy or policies, the Association shpll . i have the option to receive and apply the same on accounfi of the indebtecl~iess hereby secnred, or to peimit the mortgagors to ; receive and use it, or any part thereof, for otl:er purposes, without thereby waiving or impairing any equity, lien, or right under ° und by virtue of th~e mortgage, and may place and pay for such insurance, or any part thereof, ~vithout waiving or affecting its t option to foreclose, or uny right hereunder, and the full amount of each and every such payment shall be immediately due and payable and shall bear interest from the date thereof until paid at the rate statecl in tt~e note seeureci hereby and together with ~ such interest shall Ue secured by the lien of this Mortgage. ~ ~ 4. To permit, commit, or suffer~no waste, impairment or deterio?~tion of said property, or :iny part thereof, nnd upon i the failuro of the mortgagors to lceep the buildings on said property in good condition of repair, the Associution may demand the 1 immediate repair of said buildings or the immediate repayment of the debt hereby secured, anJ the failure of the mortgagors ~ to mmply ~vith said demand of the Associ.ltion for a period of Thirty (30) duys, shall constitute 1 breach of this mortgage, 1 and, at the option of the Association, immediately mature the entire amount of principal and interest hereby secured, and the i Association, immediately and without notice, may institute proceedin;s to foreclose this mortgage and applv for the appoinhnent ; of a Receiver, ~s hereinafter provide~. . F 5. This mortgage contrnct provldes for udditional advances which may be made at tha o~tion of the ussociation and ; secured by thu mortgage, and it is agc+eea that in the event of such advnnces the amount may be added to the mortgage debt ' and shall inerease the unpaid balance of tha note hereby secured by the amount of sucl~ advance and shall be a gart of suid note indebtedness under all the terms of said note and this contract as fully as if a new such note and contract were executecl # und delivered, M additional adv~nce agreement may be given and accepted for such advance and provision may be made for clifferent monthly payments and a different interest rate and other express malifications of the contract, but in nll other respects i ihis contr.~et shal! remain in full force and effect as to said indebtedness, including all udvances. t 8. If an of the sums of mua her~ein referred to be not rom tl end full id within Thirt 30 da s next after : y QY r~ P P Y Y Pa Y( ) Y ~ the same severally come dne snd payable, or if each and every the stipulations, agreement, 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 sald promissory note and any other amount or amounts added to the mortgage indebtedness under the terms of this mortgage i shall become due And pay~ble forthwith ar thcreafter at the option of the Assoeiation, as fully und completely as if said uggregate 1 sum of money was originaUy stipulated to be paid on such day, anything in said promissory note ~r herein to the contrary not- ; withstanding. ~ 7. To deliver to the Association, on or before biarch 15th, of each year, tax receipts evidencing the payment of ~all laK•- ' fully im~ tuxes for the prececling ralendar year; to deliver to the Association receipts evIdencing the payment of all liens ; for pub 'e improvements within ninety (90) days after the same shall txxomc due sind payable, and to pay or disc}uirge within . ! ninety (90) days nfter due date, any and all govemmental Ievies that may be made on the mortgaged property, on this mortgage ~ or note, or in any other way resulting from the mortgago indebtedness secured by this mortgage. ~ ; r~ ~ , t,E~S ~ ~'R, ~ ' ~ .