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Home My WebLink About1439 ~ c t s " : i • ~ z 4 . ~ at nl' times geace~ably und quiedy to enter u~wn, hold, occupy z~nd cnju>> s~~iet land; that said land is frc~e from all e~icumbrances; ~ that they will m~ke such further assurances to ~erfect t,'~e fee simple title to said ln~d in the Associ~ition us may reasonably #x~ - ~ required; and that they do herzby fully warrnnt thQ tide to ssiil land iu~d ~vill defend tho sume n~air~st the lawful clnims of all p~rsons ~vhomsocver. ~ 1'ROVIDED ALWAYS that iE the rlortgagors shnll ~vell nnd truly pay wito the Assoeiation, the indebteciness evideneecl by that certain ~romissor,y note, of even date herewith, mude by the :~torig~lgars nnd payable to the Association, in thc princi~kll ~ FIFTY ONE THOUSAND AND NO/100ths------------------- ~ 51 OOU.00 - s~m oE - - • . Dollsrs s _ ~ - ~ - interest ~ ents ~ • which note, together ~~zth interest th~reon as therein specified, is pa~~able in monthly instllhnents ~f P..~?~?... . ~ due on June 12, 1975, July 12, 1975, _ August 12, 1975,_ September 12, 1975 and then . , ~ ~ . . . . . . - - ---~-~---r. FOUR HUNDRED NINETEEN AND 31 /100ths--------------------------------=-"' s 4 r -.Dollars ( ----....19._31.----- _ ~ . October 12, 19?5 on the.__.._12~1.---.___day of each month commencing ~ti~ith------ ----------------------------------~-~----------which paymen~c . - are to Ue .ipplied; first to interest, ~~d the balance to principal, until said indebtedness is paid in fu11, nnd shal! perform, eomgly _ - wiih and abide by each and every the stipulations, Agreements, conditions nnd c~venants of said promissory note and this -mortgage, And, including any udvances made by the Association to the Mortgagors, or their successors in tit1G~ for any ptupose, a~ any tiir~e before the release and ~~ncellation of this mortgage, but zt no time shall this morigage secure advances on account . ~ of s~lici original note together ~vith such additional advances in a sum in excess of____F'IFTY_ ONE. THOUSAND - - - < ~ ~ ~ ----:AND NOf lOUths--_--_-.-----_----_-_- ~-_----"-.'.'_.Dollars (R--:.-5.1~_000~_00_), plus any advances necessary z to protect the security und costs, then this deeci and the estate hereb~~ created sh111 cease. and be nuli :~nd void, i s AND THE riORTGAGORS DO hereby cuvenant and_agree: - , • ~ f 1. To pay all and singular the rI1llC1~11 ail(I interest And other sums of muney payable by virtue of said promissory note ~ - . ancl this mortgage, or either, promptly on ihe days respectively the same se~~erally come due. ~ f _ 2. To pay all and singular the taxes, assessments, levies, liabilities, oUligations and incumbrances af every nature and kind ( now on said described property, or that hereafter may be imposeti, sufiered, p~acecl, levied, or assessec~ thereon, or that hereafter ; ma}' be le~~ied or assessed upon this ;1lortgage, or the indebtedness secured hereby, cach and ev~ry•, ~vhen due and payable, ; acronling to law, before they become delinquent, and 'cefore any inierest attaches or nny penalty is incurred; and insofar as any thereof is of record the same sl~all be prom~tly satisfied and disc'harged of record and the original official document (such as, for. instance, the taac receipt or the satisfaction paper officially enclorsed or cerdEiecl) shall be placed in the hands of said Association as ~Iortgagee ~~zthin ten days next after pa}~ent; and in the event that ~ny thereof is no? paid, satisfied and discharged, . said Association may at any time pay the same or any part thereof ~vithout ~vaiving or affecting at~y option, lien, equity or right . _ under or by virtue of this :1lortg~ge, and the full amount of each and every such payment shall be immediately due an3 payable and shall bear interest from the c'^te thereoE until paid ~t the rate stat~d in the note seeured hereby anci together with sueh iuter- . est shall be secured by the lien of ihis Ttortgage. _ ~ 3. To keep the buildings and all equipment and personal property now or hereatter on said premises covered by this mortgage. - ~ insured in a sum equal to at least the amount of che mongage. or an amount suf[icient to comply with any co-insurance require- ! -ment covering the same under the lahs of the State of Florida, co~•ering loss from both fire and storm, making the loss under said t policies, each and e~•ery, payable to the Association, as mortgagee, as i~c interest may appear, and said insurance shall be in a good ~ and responsibie insurance company satisEactory to said Association, and written by a responsible local agenc satis[actory tu said Asso- ~ - ciation; and the palicy or policies shall bear a standard mortgsge dause without contribufion, and, iE the original principal amounE ° of tlie mortgagP is Fi[ty Thousand and no/ 100 Do!lars (550,000.00) or. in excess thereof, sh~ll be held by the Association, and, in _ the e~•ent any sum of money becomes payable under such policy or polic~es, the Association shalt ha~•e the option to receive and apply - the same on account of the indebtedness hereby secured, or to permit the mongagors to recei~•e and use it; o: any pan thereof, for : other purposes, without thereby waiving or impairing any equity, lien, or right under and by virtue of this mortgage, and. may place and pay for such insurance, or any part thereo[, `?itho~t wai~•ing or aF[ecting its option to foreclcue, or any right hereunder, ~ . and th~ fult amount of each ar.d e~~ery such payment shall be immediately dae and payable and sha11 Uear interest irom the date therec~f until paid at the ra[e stated in the note secumd hereby and together with such interest shall be secured by the lien of this ; Aiortgage. - - - i - _ . ; 4. To permit, commit, or suffer no ~vaste, impairment or deterioration of sai3 pro~iert~•, or any part thereof, anii upon E the fai;uro of the mortgagoes to keep the buildings on said property in good. condition of repair, the Association may demand the ' immediate repair oE said Uu;~dings or the immediate repaj~ment of the debt hereUy securecl, ancl the failuie of the mortgagors to comply ~?•ith sasd clemand of the Association for a Periocl of Thirt}' (30) days, shall constitute a breach of this mortgage, _ - and, at the option of the Association, immediatel~~ mature the entire amount of principal and interest herebv secured, and the ` Association, immediately.and without notice, may. ir+stitute proceedin;s tn foredose this mort~age and apph• for the appointment ~ i- of a Receirer, as hereinafter provicIed. ~ - - ' 5. This mortgage contract provides for additional advai~ces ~ti~hicl~ may !~e made at the option of the association and I~ securcd by this mortgage, and it is agreed that in the event of such advances tl~e ~mount may be added to the mortgage debt and shall increase the ungaid balance of the note hereby secured by the amount of such advance and shall be a part of said note inclebtedness under all the terms of said note anu ihis contract as fully as if a ne~v such note and contraet «-ere executecl _ and delivered. An additional :advance agreement may be given and accepted for such advance and provision may be made for ' different monthiv pay~nents and a different interest rate and other espress modifications of the contract, but in all other respectc ihis contrsct shall remain in full force and effect as to said indebteciness, induding all advances. . . 6. If any of the sums of money herein referred to be not promptly and fully paid within Thirh~ (30) days next aEter the same severally come due and payable, or if each and every the stipulations, a~reement, conditions, and covenants of said ~ ~ promissory note and this deed, or either, aze not duly performed, ec~mplied ~vith and abided by, ihe aggregate sum mentioned ~ in said promissory note and any other amount or amounts added to the mortgage indebtedness ur.der the terms of this mortgage _ _ shall become due and pay~ble for~.hw~ith or thereafter at the option of the Association, as fully and comnletely as if said aggrega,e . swrr of money ~~ras originally stipulated to be paid on such day, anything in said prumissory note or herein to the contrary nct- t ~vithstanding. . - - - 7, To deliver to the Association, on or before ~iarch l~th, of each year, tax receipts evidencing the payrrient of all la«•- fully imposed taxes for the prececling calendar year; to deliver to the Acsociation receipts evidencing the payment of . all liens for public improvements _~vithin ninety (90) days after the same s}iull hecome due and payable, and to pay or discharge withiri ~ ninety (90) days after due date, an~• ~nd all govemmental levies that may be made,,o'n the mort~aged propetty, on this mortgage ~ or note, or in any ather way resulting from the mortgage indebtedness sectired b~-this mortgage. ! . ' . - Y a R 239 P,~cE1436 ~ - 800K _ . _..--1 - i ~