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Home My WebLink About2237 at aU times pe~icr~ably and quiedy to c~n!er upun, hold, ucrupy und enjm~ sa~d l:?nc~; that suid laml is frc~: from all esitumbranePS; thst they will make such futther assurances to perfect the fee simple title to said lar?d in the Association as mav re.~sonably he• rec~uired; and that thry do hereby fully warrant the tide to said lsn~i and ~~~ill defend the sume ;~~ainst the la~~~ful claims of all lx~rsons «~}:oms~vrr. NHO\'ll)ED AL\1'A1'S th:it if thc• \lurtt;ut;ur. shull well aiid tnily pa~- imtc~ the :~ssuciation, thr inclebtednrss evide~ieed by th:~t certain promissory note, of even date herewith, made b~~ the ~lort~a~*ors and p:i~•:ihlr to the Ass~xiation, i:~ thc~ Y~rinci~~al ,um of SEVEN THOUSAN~ FIVE HUNDRED AND NO/100 i~~~~,,~, ~,a~, ?,500.00 ~~hic~h note, together ~~•ith intere;t therc~n~ :u therc~in sixcified, is Eia~:il~le~ in ITIUO~}l~y installments uf FIFTY EIGHT AND NO/l0U Doil:~r~ 58.00 ~ on the lOth d.iy of euch Il10RtIl Cuill~llcllrjll~ .~~;rh December 10, _ 1965 _ which paymer,tti :ire to be :~pplied, first to interest, and the balance to principal, uritil said indebtedness is paid in full, and shall perform, comply ~~~ith and abide by each and e~•ery the stipulations, agreements, conditions and covenants oE slid promissorv note aiid this mort~age, And, ineluding any advances made by the Association to the ~Sort~ar;ors, or their successors ire tidr, for any ptupose, at anv time before the release and cancellation of this mortgage, but at no time shall this mortgage secure advances on accr~unt of s;iid ori~inul note to~ether ~~•ith such ud~litional .idvnnces in a sum in etcess oE.._SEVEN THOUSAND FIVE - - - HUNDRED AND NO/ 100 7 500. 00 _ - - - _ _ _ . - - Uollars + . - plus any ach~ances necess:~r~~ to Proteet the seeurity and eosts, then this cleed and the est~ite hereb~~ ereatc~cl sh,~ll eease and be null and void. A`D THE ~SORTGAGORS DU hereb~• cuvenant and agree: 1. Tb pay ail and singular the principal and interest anci other sums of money pa~~able b~- virtue of said promisson~ notc :uul this mort~age, or either, promptly on tl~e days respectively the same severally come due. ~ Ta paY all and sinoular the taxes, assessments, ]evies, liabilities, obligations anc~ incumbrances of every nature and kind nu~v on said ciescribed property, or thatr hereafter mav be imposed, suffered, placeci, levied, or as~e~sed thereon, or that hereafter ma~• be levied or assessed u~wn this \tortgage, or the indebtedness secured herebv, caci~ and everv, ~~•hen due and payable, accordi~i~ tu la~v, befc.r~ they become clelinciuent, ancl before any interest attaches vr unv penalty is ine?irred; and insofar as anv thereof is of reco.d the same sl~ali be promptly s.itisfied and ciisci~;ir~ecl of record ~nd the original official document (such :ts, for i~istatice, the tax receipt er the satisfactian P;iper officialh• enclorsed <ir certified) ~h;ill be placcd in the hands of said .~ssociation :~s \ic~rt~a~ee ~~•ithin ten davs nest after p:iyment; and in the event that anv thereof is not Paid, sltisfied and dischargecl, saicl Assr~ciation m.i~• at am~ time pa~~ tiie same or any part thereoE ~vithout waiving or affectin~ any option, lien, equit~~ or right under or !~t• virtue uf this ~iort~a~e, und the full amount of e,ich ancl e~•erv such payment sh;ill be immedialelv due and payable and shall bear interest from the date thereof until paid at the rate stated in the note sec•ured hereb~• ancl to~ether with sueh inter- est shall be sectued b~~ the lie:i of this J1ort~aoe. To keep the buildings and ail equipment and personal property now~ or hereafter on said premises covered by this mortgage, insured in a sum eyual to at least the amount of the mortgage, or an amount suEficient to complY with any co-insurance require- ment covering thr same under the I3N'5 O{ the State of Florida, coveriug loss from both [ire and storm, making the loss under said policies, each and e~er}, pa}able to the .-lssociation. as mortgagee, ac its intrrrst may appear, and said insurance shall be in a good and responsible insurance compauy satisEactory to said .~ssociatioi~, an~l writren by a resFonsible local agent satisfactory to said Asso- ciation; and the pulicy or policies shall bear a se:uulard morcgage cl~wse without contribution, and, if the original principal amount of the rnorty;aKe is FiEty 'thousand and no,' 100 Dollars ($50,000.00) or in excess thereof, shali be held by the Association, and, in the e~e~~t au}' sum of money becorues payable uncler such }wlic}' or E~olicirs, the :~ss~ociatian shall have the option to receive and apply the satne on accouut of the it~debted~iess heret,y secured, or to permit the mortRagors to reteive and use it, or a??y part thereof, for other purposrs, wiihout thereby waiving or impairing any equity, lien, or right under and by virtue of this mortgage, and may place and p~+y for such insurance, or any part thereof, without wai~~in~; or a([ecting its option to foreclose, or any right hereunder, and the Eu11 amount of each and e~~ery such payrneti[ shall l~e immediately due and payabl~ and shall bear interest from the date thereof until paic! at the rate statect in the note secured heret~y and toge:her with such interest shall ue secured b}~ the lien oE this ~lortgage. 4. To ~ennit, ecmmit, or suffer no ~vaste, impairment or deterioration of said prapert~•, or any Irirt thereof, and upoii tl~e failtirc of the mort~a~ors to keep the bt~ilciinRs an said pmperty iii ~oocl conciition oE repair, the Associatiori may demand the i~nmediatc re~~air af s;iid bu:ldin;s or t}ic immecliate repati~nent of the ~iebt hereb~~ secured, :~~icl the failure of the. mortgagors to comph- «~ith said demand nf the .~lssociation for a period ~~E Thirtv (30) davs, shall constitute a breach oE this mortha~e, and, at the ~ption of the Association, immedi;ite~k muture the entire :mount of principal and interest herebv secured, and the :tss~eiition, iminecliately ancl ~vithout notiee, mav institute proeeeclinns tr~ foreelose this mort~a~e anci apPl~~ f~r the appointment nf a Recei~•er, 1s hereinafter provideci. ~ 3. '['his mort~age contract Provic3es for additianal aclvances ~~•hieh mav be rnacle at the option of the assoeiation ancl secured bv this mort~age, and it is agreed that in the event of such a<lvances the amom~t m.y tx; added to the mortgage ilebt ,+nd s:~all ~increase the unpaic! halance of the note hereby secured by the amount of such ~dvar,ce and shall be a part of saic? note indebtedn~ss under all the te~ms nf said note and this contract as fully as if a new such note and contract ~+ere executed .~nci ~ieli~•ered. ;1n additional advance :+~reement mav be gi~•en and accepted for such advance ancl provision mati~ be made for clifferent monthl~~ I~a~ments .:nd a different interest rate at~d other eypress modiFications of the contrac,, but in all~other respects , ihis contract sh,~ll remain in full force and effect as to said indebtedness, includin~ all advunces. 6. If am~ of the sums of muney herein re.ferred to be not promptl, ancl fulh~ paid ~cithin Thirty (3Oj days next after the same se~•erally c~c~me due :incl pa~~a~le, or if each ~nd every the stipulutions, aomement, conditions, and covenants of saicl promissory note ancl this deed, or either, ara not duly perEormed, eomplied with anc~ abided by, the aggrsgate sum mentioneci in sai~i promissorv note and anv other amount or amounts added to the mortgage inc~e~tedness under the terms of this mort~a~e shall become due~ and pa~~-~ble forthwith or thereafter at the option of the Assuciution, as fully and completely as if said ag~~re~atc sam of monev was originallY stipulated to be paid on such uav. am~thing in said promiss~ry note or herein to the contrarv n~t- ~~•ithstanding. ~ To cieliver to the Association, on or before ~tarch l~th, of each ~•ear, t,~s receipts evidencin~ the payment of al3 ]a«•- fu~ly imposed taxes for the ~recedin~ c.~lendar vear; to deli~•er to the Association receipts evidencing the payment oE aIl liens for public impro~•ements ~~ithin ninety (9O! days after the same shall hecome due and payable, and to pay or discharge ~'ithir~ ninety (90) da~•s after due date, am~ and all governrrtental levies that may bn made on the mort~ageci pro~-,ertv, ~m this mortga~r nr note, or in ain~~ +~ther K"~V iC'S11~tl11Q from thc~ mort~a~e ind~btedness secured bv this mort~a~e. ~ BooK~.3~ 438