Loading...
HomeMy WebLinkAbout2649 at all times peace-.tbly nnd quietly ta enter upon, hold, cxrupy ~md enj~~>> saul lantl; that said land is fre~, irom All ei~cumbrances; that they wil! maks such further assurances to perfect the fea sim~lc titlo to said lai?d in the Association as may reasonably lx; requirecl; und that they do hereby fully wnrrant thQ title tA suid I;ind and will defend the same n~;nis~st the la~~•ful clnims of all l~ersons ~vhomsoever, ; PItOYIDED AL\VAl'S that iF the ~tort~ag~rs shall ~vell nnd trttly p=iy unto the Assaiation, the indeUtcclness evidenced 6y that certnin promissory note, of ~ven clate herewith~ made by the Afortglgon nnd p:ry:tblc ta the Associatian, in the rrinci~~l ~ ~ FIFTY NINE THOUSAND FIVE HUNDRED AND NO/100ths--- 59 500.00 sum of ~ . Doll:~rs ' _ . . . . ~~~hich note, together ~vith interest thercon as therein sPecified, is payable in monthly installments ~f interest payments due on June 20, 1975, July 20, 1975, August 20, 1975, September 20, 1975, October 20, 1 J?5, November 20, 1975 and then FOUR HUNDRED SEVENTY NINE AIVD 12 / 100ths-- : - - - - - - - - ~ nolt~~ (3 .--4?9._12_ - - - - ' 20th , December 20, 1975 _ _ _ _ _ _ _..,Which a menk, on the-_------------- _----day of each month a~mmencin~, ~vitli.----- - - - - - - - P Y ; are to be :ipplied~ first to interest, and the balance to principal, uiitil said indebtedness is paid in full, and shall perform, comply . ~~~ith and abide by each and every the stipulations, agreements, conditions und covenants of said ~~mmissory note and this mortgage, And, including any advances made by tlie Association to the \iortgagors, or their successors in titlr, for any ptupose, at any time before the release anci cancellation of this mortgage, bi~t at no time shall this mortgage secure advances on account oE said original note together with such additional advances in a su~n in excess of_ _F1FTY NINE THOUSAND : FIVE HU1~DR~ED AND NO/100ths----------_=_ po~~_~~ 59, 500.00 ~ny advances necessan• - - - - - - - - to protect the security und costs, then this deecl and the estate hereby created shall cease and be null and void. - A\D THE ~10RTGAGORS DO hereby cuvenant and agree: , 1. To pay all and singular the principal and interest and odier sums of money payable by virtue of said promissory note ~ and this mortgage, or either, promptly on the days respectively the same severally come due. 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumUranc~s of every nature and ki~~d no~~• on sai~l described pmperty, or that hereafter may be imposed, suffered, placecl, levied, or assessed thereon, or that hereafter ; may be leti~iecl or assessed upon this ~fortgage, or the indebtedness secured hereby, each and every, ~vhen due and payable, ; • sccording to law, before they bec~.^,~e delinquent, and before any interest attaches or any penalty is incurred; and insofar as any thereof is of record the same shal( be promptly satisfieci and discl~argecl of record and the original ofFicial document (such ~ as, for instance, th~ tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said ~ , Association as ~iortgagee ~~rithin ten da~~s next afCer pa~~ment; and in the event that any thereof is ~iot paid, satisfied and dischargecl, i said Assoeiation may :~t any time pay tLe same or any part thereof ~~7thout waiving or nfFecting any option, lien, equity or right • ~ imder or by virtue ~f this ~tortguge, and tl~e full amount of each and every such payment shall Ue immediately due and payable ~ and shall bear interest from the date thereof until paid at the r.ite stateci in the note securec~' hereb~• and together ~vith sueh inter- - est shall be secured by the lien of ihis ~tortgage. ~ - - . i 3. To kee~ the Luildiugs and all equipment anci personal property noh~ or hereatter on said premises corered by this mortgage, ~ : insured in a sum equal to at least the amount of the mongage, or an amount suificien~. to comply with any co-in~urance require- : ment co~~ering the same under the laHS oE the State oE Florida, carering loss From both fire and storm, making the loss under said 4 ' policies, each and e~•er}•, payable to tiie ~lssociation, as mortgagee, as its interest may appear, and said insuranct shall be in a good ? ; and responsible uisurance company satis[actory to said Association, and written by a responsible local agent satisfactory• to said Asso- j ciation; and the policy or policies shall bear a standard mortgage clause without contribution, and, if the original principal amount f of the mortgage is Fifty Thousand and no/100 llollars ($50,000.001 or in excess thereof, shall be held by the Association, and, in ~ the e~~ent any sum oE money becomes payable uneter such policy or policies, the Association shall have the option to recei~•e and apply ~ the same on account of the indehtedness hereb~~ secured, or eo permie t~ie mortgagon to receive and use it,- or any part trereof, for g _ other purposes, witho~i thereby waiving or impairing any equity, lien, or right under ar:d by virtue of this mortgage. and may ; place and pay Eor such i~isurance, or any part thereot, without wa~~•ing or atfecting its option to [oreclose, or any right hereunder. - ~ - and the tull amount of each anc3 e~•ery sucli payinent shall be immediztely due and payable and shall bear interest from the date ~ - thereot until paid at the rate stated in tt?e note secured h:reby and togett?er with such interest shall be secured by the lien of this ; _ Aiortgage. _ - i _ - ~ 4. To permit, commit, or suffer no v~aste, impairmetrt or deterior.ition of said property, or any pa.*t thereof, and uiwn ; the faili~re of the mort~a~ors to keep the buildings on "saicl propert~~ in good condiiion of repair, the Association may demar,d the ; ~I % immediatc repair of said bu;ldin~s or the immediate repavment of the debt hereby sec:urecl, ancl the failure of the mortgagors ? ~I to complh with said demar.d of the Association for a period of Thirty (30) da}•s, shall constitute a breach of this mortgage, and, at thc option of the Association, immediatelv mati~re the entire amoiint of principal and interest herebv secured, and the _ : Assc~ciation, immediately and ~!ho~ notice, may institute proceedin;s to foreclose this martg.ige and app1~~ for the appointment ; _ of a Recei~•er, 1s hereinafter provided. - _ ~ 5. This mortgage contract provides for additional advances ~~•hich may be made at the option of the association and ~ -secured by this mort7age, and it is agreed ihat in the event of such advances the amount may be added to the mortgage debt and shall increase the unpaid balance of the note hereby secured by the amount of such advan:e and sh:ill be a part of saicl note indebtedness under all the terms of said note and this contract as fully as iF a ne~v such note :ind contract ~~-ere executecl and delivered. An additiona2 advance agrcemt~t may Ue given and accepted for such advance and provision may be made for diffcrent monthly pa}~ments and a diFferent intcrest rate and other express modifications of the contract, but in .11 other respects - ihis contract sha11 remain in ftill force and cffe~t as to said indebteciness, including alt advances, ; 6. If an~~ of the sums of muney herein referred to be not promptly and fully paid ~sithin Thirty (30) days next after i ihe s~~me severally come due and payable, or if each and every the stipulation., agrcement, cor.~litions, and covenantr of said ~ promissory note anci. this deed, or either, are not dul~~ performed, complied ~cith and abidecl by, the aggr oate sum mentioneci i - in said promissory nate ~and any- other amount or amounts added to the mortgage indehtedness under the terms of this mortgage ~ shall become dus and payable forthwith or thereafter at the opHon of the Association, as fully and completely as if said aggregate ~ sum of money ~vas originally stipulated to Ue paid un such d:-y, ant~thing in said promissory note or herein to the contrary not- _ _ - ~vithstanding. . ~ 7. To deliver to the Association, on or l2efore ~larch l~th, of each ~-ear, tax receipts evidencing the payment of all la~?•- fully imposed taxes for the preceding calendar year; to deliver to the Association receipts evidencing the payment of all liens ~ - for public improvements «~thin ninety (90) days after the sam~ shall l~ecome due and payable; and to pay or discharge witt~in ~ ; ninety (90) ~~a~~s after due date, an~~ and all governmental levies that may be made an the mortaaged pmperty, or, this mortga~e ~ ; or note, or in any other way resulting from the mortgage indebtedness secured bv this mortgage. ' ~ . ~ ~ ~ - BOOK ~4U PAGf y _ - f "