HomeMy WebLinkAbout2776 nt aU times peaceably nnd quiedy to enter upon, hold, ocrupy und cnjoy said lanct; that said land is frc~ from ull encumUrances;
that they will make such further assursnces to gedect the Eefl ~mpte title to said la~d in the Associ,ltion As may TC.ISOI181)~y tiG -
required; und that they do hereby fully wairnnt the title to said lanci nncl ~vill defend tho same aglinst the' la~~•ful claims uE ~
all persons whomsoevcr.
PROVIDEI) AL~VAYS thut if the ~iortgagors shall ~~•ell and truly pay unto the Assori.ition, tl~c indeUtedness evidenced
by that certAin promissory iiote, of even dato herewith, made by the I~tortgago~ nncl pay,~hle to the As~ociation, in the princi~~al
sum oE _THIRTY. THREE THOi7SANL'i FTVE HI?NDRED AND NO/100ths lloti:«s (S . 33, 500. 00
: ~vhich ~ote, together with interest thereon as thcrein specified, is payablc in monthly installments of .Z'WO HLTNDRED._
SEVENTY FIVE AND 42/100ths-----------
` ` - Dollars (S - -~75. 42- ~
~ 20th • • ~ June 20 1375
on th~------ dny of each month cummepc~ng ~~~th--~-- -------------------------'------•--------------------------•--------------------------which payments
:ue to be applied, first to interest, nnd the Ualance to principal, until said indebtedness is p~1id fn full, and shall perform, eomply _ ~
with and abide by each And every the stipulations, agreements, conditions ~nd covenants of sAid pmmissory note and this
mortgage, And, including nny advances made by the Assoctation to the \iortgagors, or their successors in title, for any purpose,
at any time before the release and cancellation of this mortg.~ge, but at no time shalt this mortgage secare advances on account _
of said original note together with such additional advlnces in a siun in excess of.___THIR_TY_'IHREE THOUSAND -
~ FIVE HUNDRED AND NO/100ths-----------po~~~~~ ~S_33, 500.00 p~~ any a~ances necessary
- ~
to protect the security and costs, then ihis cieed ~nd the estate hereby created shall cease and be null and void.
: AND THE r10RTGAGORS DO hereby cvvenant and agree:
1. To pay all and singular the principal ~nd interest and other sums of money puyable by virtue of saici promissory nutc
and this mortgage, or eit}~er, promptly on the days respectively the same severally come due, ~
2. To_~1y all and singulaz the taxes, assessments, levies, liabilities, obligations~and incumbrances of e~~ery nature and kind !
~ now on said described property, or that hereafter inay be imposed, suffered, placecl, levied, or assessed ihereon, or that hereafter ~
may be levied or assessecl npon this \iortgage, or the indebtedness securecl hereby, ec~ch and e~•ery, ~vhen due and payable, -
" accord'uifi to law, beEore they become delinquent, anci before any . interest attaches or .?ny ~enalty is incurred; and insofar as ?
any thereof is of record the same sl~all be promptly satisfied und dischargecl of record and t~~e original official document (such ~
as, for instance, the t~.Y receipt or the satisfaction paper officiall~~ endorsec~ or certifiecl) shall be placed in the hands of-said
Association as \tortgagee within ten days next after payment; and in the event that any thereof is not paid, satisfied and discharged;
said Assoeiation may at any time pay the.sa~~ie or any part thereof ~~zthout ~vaiving or affecting any option, lien, equit~~ or right
under or h}' virtue of this ~lortgage, and die full amount oE each and every such payment shall be irr,mediately due and payable _
and shall bear interest from the date thereor until paid at the rate stated 'in the note secured hereb~• and together ~vith such inter-
est shall be secured by the lien of ihis riortgage. , , ~
;
- 3. To keep the buildings and all equipment and personal property now or hereaEter on said premises c~tiered by this mortgage,
, insured in a sum equal to at least the amount of the mortgage; or an am~unt sufficient to comply with any to-insurance require- _ ;
ment covering the same under the laN•s of the State ot Florida, co~•ering loss from both fire and storm, making the loss under said
policies, each and e~•ery, payable ta the Association, as mortgagee, ae its interest may appear, and said insurance shall be in a good :
and responsible insurance c~mpany sa.isEactQ.-y to said Association, and written by a responsible local agent satisfactory to said rlsso-
ciation; and the policv or policies shall bear a standard mortgage da~se without contribution. and, if the original principal amount ~
- oi the mortgage is Fifty Thousand and no/ 100 llollars (550,000.00) or in excess thereof. shall be held by the .rlssociation, and, in ;
the eti•ent an sum o[ mone • becomes a•able under such li or licies, the Association shall ha~•e the o tion to recei~•e and a 1 ~
Y y P y P~ ~5' I~ P PP Y-
the same on account o[ the indebtedness hereby secureet, or to permit the mortgagors eo receive and use it, or any part thereof, for x
other purposes, without thereby wai~~ing or impairing any equity, lien, or righi under and _by virtue ot thu mortgage, and may
place and paY for such insurance, or any part thereo[, without wai~~ing or aE[ecting its option to forPdose, or any right hereunder, ~
and the Eutl amount of each and e~•ery such pay~r?ent shall be immediately due and payable and shall bear interest trom the date '
, thereoE until paid at the rate stated in the note secured hereby and together with such interest shall be secured by the lien of this '
liortgage. . . _ ~ i
- 4. To permit, comroit, or suffer no waste, impairment or deterioriti~n of said propert}', or any part thereof, and upon `
the failuro of the mortgagors to keep the bt~ildings on said propert}' in good condition of.repair, the Association may demand the =
immediate repair of said bu;ldings or the immediate repavment of the clebt hereb~~ securecl, an~l the failure of the mortgagors ~
to comply ~vith said demand of thc Association for a perioa] of Thirty (30) da~-s, shall constitt~te breac}y of this mortgage, {
and, at the ot~tion of the ~ssociation, immecliatehr mature the entire amount of principal anci inEerest herebv securea, aiid the ~ :
Assnciation, immediatel}• and ~vithout notim, mav ii~stitute proceedin;s to foreclose this mortgage and appl~~ for the appointment i
. of a Recei~•er, as hereinafter provideci. ~ -
5. This mortgage contract pmvides for' adclitional advances «•hich may ~e made at the o~:tion of the association and
~ secured by this :nortgage, and it is agreed that in the event ~f such acivances the amaunt may be added to the mortgage debt
and shall increase the unpaid balance ~f the note hereby sscured by ihe amount of such advance and shall be a part of said ~
_ note indeUtedness under all the terms of said note and this contract as fully as iE a new such note ctnd c9ntract ~sere executeci
and delivered. An additional acivarce agreement may be given and acc~epted for such advance and provision may be made for ~
F, different monthly payments ~nd a difEerent interest rate and other e~press modifications of the contract, bu* in all other respects ;
~ ' ihis contract shall remain in full force and effect as to said indebtedness, including all ad~~ances. - ~
' - 6. If any of th~ sums of money herein referred to be nol promptl~~ and futly~ paid v:thin Thirty (30) ~days next after ~
~ the same sever.~ll
y come due and p
a
yable, or if each and ev e ry the sti pulations, a
grce me n t, c o n d i t i o n s, a n d c o v e n a n t
s ~ o f s a i d -
~ promissory note and this deed, or either, are not duly performed, rnmplied with and abidecl by, the aggregate sum mentianed -
in said-promissory note and any other amount_or amaunts added to the mortgage indebtedness under the terms of this mortgage
shall become due aad pay~ble forthwith or thereafter at the option of the Association, as fully and completely as if said ag~cegate
sum of money ~vas ori,ginally stipulated ta be paid on such day, an}'~hing in said promissory. note or herein to the contrarv not- -
w-ithstanding. _ "
7. To deli~~er to the Association, on or before ~iarch l~th, of eaeh year, tax receipts evidencing the payment of all la~+•- ''c~
" fully imposed taaes for the preceding calendar year; to deliver to the Association receiptr evidencing the payment of all liens ~
for public improvements ~~~thin ninety (90) days after the same shall hecome due and payaUle, and to pay or discharge within
ninety (90) c'sa}~s after due date, an~~ and all govemmental levies that may- be made on the mort~aged property, on this mortga~e ~
- or note, or in any other w~ay resulting from- the mortgage indebtedness secured bv this mortga~e. _ - ~
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