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:st all tim~•s Ix~ac•~~ablv e~ncl ~~ui~~tly to i•~iter tiExiu, hul~l, uecu~~v :uiei euj~~~~ satcl l;~nil; tli.it s:iicl lau~l is fre~.• frou~ ull r•ncumbranc~•~;
that thev w~il! urike ~si?ch further assurances to perfect the fee simpl~~ title to said l:ind in the A1s~x•i:ition as rna~' r'eason.ii51~~ tx•
rt•c~uired; and that khey do hereby fully warrant the title to saicl lan~l :uul ~~ill dr(cud the ,umf• u~uinst thr I:i~+Eul cluims ul
.,I) ix•nuns huntsoe~•e•r.
PltO~~IUE;I) .11.11':11'S th:~t iF tLe \furt~a~urs sluill ~~ell an~i tru?~' ~xt~• tu~ti~ tLt~ :~s~uciutic~n, tlir iuclrhtt~eint~ss e•~•ideuced
hr th:it cr•rtain ~~rur+~issory uote, of e~'en date here«~ith, made b~' t~ic• \lo:tga~ers un:l J~.i~.ihle tu the :~.~~~ciatiun, in th~• }~ri~~ci~~:il
~,E T~~'ELVE THOUSAND SEVEN HUI\TDRED nND NO/100 ~S~,M, 700.00
iiich note. tu~~r•ther ~ti itl~ inte°re;t therc~n u, thc~min sC~ecified, is Er,i~.iLi~• in ~nunthl~• inst:~llinent, uf
~TINETY 01~rE ~ND NO/100 l~ull:irs ~g 91.1~0 l.
un the 3T`(:i cla}' u! ea~h moutl~ runimencii~~ "~ch January 3, 1~6~i ~t•hich paymentti
:~re to hr :~~~plied, Eirst to interest, und che balunce to principal, uiitil saic3 indebtedness is paid in full, an3 shall perForm, comply
~~~ith anci abiclr b~' e~tch and e~•ery the sti~~ulations, a~reenients, ee~nditions and co~~enants ot said I>mmissorv nc,te and this
mort~.ige, And, incl;iding am~ advances madr: bv the Assc>ciation to the titort~a~ors, or thcir successors in title, for anv purpas~,
at am• time before the release .ind cancellatiun of this mortgx~e, hut :~t no time shall this mortgage seciire advances on account
c~F s,~ici ~~iit~inul ue~te tu~,ether ~~~ith sur}~ :ulditional aci~~uuc•e~s i~i a stim iii exeess of . TWELVE 'I'HOUSAND
SEVEN HUNDRED ~ND NO/100 Uollars (4 12~ 700. 00~ Plus ..m~ ach<inces nec•~ss;~n•
t~~ i~rutect the securitv ancl costs, then this deeci aiid tlie estate herehv cre~:~tecl tih;ill cease and be iiull .mcl ~•oicl.
A\D THE ~tORTGAGORS UO hereb~• cu~•enant and agree:
1. To i>a~• all ai~d sin~ular the principal ancl interest and otlier sum; ~f monev p:i~'able 1~~• ~~irt~~e of s.iid prurnissur~• nutc
.~ncl this mo?-tt~at~e, ur either, ~;rumpti~~ on the da~~s respectivelv the samc: se~'erally come due.
To pay all and sin~ular the taxes, assessments, levies, liubilities, obli~ations aucl incumbr.uices of e~~ert~ nature and kin<1
>>rn~~ ~~ii s:iicl clr;crihed pr~~i~ertv, or thac hereafter Illav l~e imposed, sufEered, plaeed, levied, or assessed thereon,~or that hereafter
rn,t~~ be le~ ied nr assessecl upon this \fort7uge, or the inelebtedress se~ urecl hereb~•, cach ,uld e~~er~~, when due ,121(~ ~1}',1~)IC,
aceorciin~ to la~~•, l~eEore they become cie~linciuent, aml hefore an~~ interest attaehes ur :~n~~ peualty is ineur.ed; auci insofar as
.in~~ thereoE is of rea+rcl the same shull be ~~romptlt• s,itisEiecl an<1 dischar~.;ed of r.cord and the ori~inal official docurnent (such
;s, for ii~~tanee, the tux reeeipt or the catisfuetion I~ai~c•r offieialh~ enclursed cir eertifiecl) sh.~ll be l~lacrd in the hands of s;icl
:\s~nc•iati~n as \tort~i:;cc ~+•ithin ten da.•s ne.r•t after P.i~'ment: :tncl in the event that am• therec~f is not 2~eiid, sltisfied and dischar~rd.
s,ii<I Associatic;n n~u~~ at am' ti~ne p.i~~ tiie ,ame or an~~ part thereoF ~~•ithout ~~~aiv~ng or affectin~ am~ option, lirn, e~~uit~~ or ri~,~,}tt
under or 1~~~ ~•irtue uf this \fortga~c, AIlC~ t}lE• full amuunt oE euch anc] e~~erv suc}~ pavment shall be immediatclv due and pa~•ahle
.uid sl~all bear interest fr~nn the clate thereoE until I~aid ut the r:te st~ite<l in the nc~te sec•urecl },ereb~- :ind tr~,etht~r ~~•ith such incer-
c~st shall he secured b~° the lie~i of this \fort~:i~e.
To kecp chc buildin~;s and all cyuipment an~i E~ersonal prupcrc~• now~ or hereafter on said premises co~~ered Uy thia mortgage,
iiisured in a sum eyu:~l to at lrast the amount of the rnortga~e, or an amount sufficient to com~:ly with any co-insurance reyuire-
mrnt co~erin}; thc• s:,mc under the L~H•s of the Sr.ite o[ Florida, co~erin~ lo~s from both fire and storm, making the loss under said
~,o]icir5, each an~l r~e~}, parable to the :~ss«iatiou. :~s mort~agee, ac its in~rrest may appear, aud said insurance shall be in a good
anii tesponsible insurancr ~oinpati~ satisfactor~ to tiaicl :lssoiiatioti, ancl ~•ritten b~• a responsible locxl aRent satisi'actory to said .-~sso-
ci:~tion: :+ud thc polic~ ur policics shall bctir a stanciar<I mort~aKe clausc without contribution, and, iE the ori;;inal principal amount
of tf~e ~nort~,.i~c is I~ iFt~ "I~housand ancl uo I 1i11 l)ollars (S50,000.(~(1j <~r in excess thereof, shall be held b~~ the Association, and, in
the e~ri!t .in~• suni of mone} becomes pa}alile un~ter such }~olicy~ or policirs, the .~s.sociacion shaU have the option to receive and apply
cl~e• ~auie oti accoiant oE the indebte~l~ic•ss hereb~• secured, or to permit the mortR,+gors to recei~~e and use it. or any part thereof, for
othrr E~urE~oses. wichout thereb~~ ~,~ai~ in~; or imE>airin~; any ecluit}~, lien, or right under anc! b}' ~~rtue of this mortgage, and may
place and E~:+•: for su~ h insur.ince. or anq p:+rt thrrrat. H~ithout wai~ in~; or afEcctin~; its option to [oreclose, ar an}~ right hNreunder,
;~~~d thc full arnount of c:~ch ar~i e~er~• such ~,a~~nent sh:~ll },e imn~e~liatels d~~e and pa}able and shall bear interest from the date
ther~e[ uneii paiel at tt:e rate st:+ted in the note securcd hereby an~t tvgetlier ~ti•ith such interest shall be secureci by the lien of this
~forcgage.
-1. "I~~~ j~errnit, ecmmit, or suff~~r no ~~~uste, unpairi7~ent or dctcriorati~~n <~f ~aid pruperh~, or :iny j~art thereoF, .ind up~ni
thr fuilurc~ i~f the ~n~~rt<~a~ors t~i keeE~ thc~ }niil<lin;s nn saicl properh- in ~~ood condition uE repair, the Association mav clemand the
imnu~di~~ir re~r.iir ~~F said 'uuldii:~s cir th~~ i~7~inediute rc~i~a~•ment uf the <3ebt hereb~~ .<.ecrured, an:l the failure of th~ morYga~ors
tu con~pl~~ ~~~ith s.iicl demnn~l of the :lssoei.ition f~~r a~~~~ri-;cl~~~f Thirtv (~30) cla~•s, .tihall constitttt:~ :i breaeh of this mortga~;e,
and, at th~ c~j~ti~m of the .~ssoci,itir,n, itnmecliatei~~ m;iture~ thc~ entir~ amount of principal nnd interest herebv srcured, and the
iscnci,~tir%17, ]it1lllPClintelt' and «~ithnut noticc, tnat• institute I~roc~ ~~clinn. tn (~~rc~clc~s~ thi~ rnr~rt~~:irc~ an;l iipE;l~~ f~r the aPpt~intment
uE a Itc~cci~~cr, hereinaftc.* l~rc~ciclecl.
5. This rr.ort~a~e contr:ict ~~ro~'ides for a~l~litinn.ii aclt•,~nc~~s ~~~hich m.i~- l~e made .it the oE~tion ~~f the association an~i
Secured bv this mart7age, and it is a~reecl that in the e~~ent of St1C}1 a<I~~us~r_es the a:nount m.iy be 1(~Cleci to the mortga~e deht
;;ncl ch~ll inere.ise the unnaid balance of the note herebv seeurecl bv the amount of such aclvanee and shall be a part of saicl
n~,te inclebtecin~ss i~n~ler all the terms ~~f s.~icl note and this contr,~ct rs fullv as if a ne~s s~ich note snd contract ~ccre ezecutecl
~nri rleli~ereci. :1n .icldition:al :,cl~~,~nee a~.;rec~~nent rna~• he ~i~en anci acceptecl f~~r such acl~~anee and I~ri~ti•isie~n iu,~~ be m:~de fe~r
<iiffc~r~~nt monclil~~ ~~a~ ~r.ents .:r,<l a cli{Ferent intere:t rate ancl othe: express modifieations of the eontraet, hii! in ;~11 ~ther ~r~~~ec t;
ihi~ c~~~ntr:ict sh~+ll r~~muin in full force aiiil efFect a.ti t~> said indebtednt~ss, ineluclin~ all aclt~anees.
6. If an~• ~f the sums af mc>ney herein referred to be not promPtl~• and itill~• Pr~id ~tiititin 'Chirh~ (:~~j da~~s nt•~t atter
the same sever.iil~; c~~me clue :~ncl pa~~~:ble, <~r if eaeh and ever~~ thc: stij~ul.~tions, u~rcement, conciitions, ar.d co~•enants nf saicl
~~rnp~~SSOC~~ note ,:n<l this clee~l, or either, are not duly perforrned, eoinplied w-ith ancl abided by, the a~gre~ate surn mentianeci
in tiaid promi~~~~n• i«:te .iiul .~n~• other amount or amounts added !o the rnortgage indebtedness under the terms of this mort~at!c
shall become c3uc~ :ind ~~a~ .ible forth«~ilh or ther~after a; tlie option af the Asso;iation, as fullv and completely as if said ag~~rc~;att~
s~~m of mone~• ~~~as ori~inall~• stipulated t~~ be paid on stich da~•, am•thin~ in said promissorv n~te ~r hereiit to th. contr:ir~• uc~t-
ithstandin~.
To dcli~~•r to th~• :1ss~,ciatiun, ~m ~,r }~cf~~re ~f.irch i5kh, ~~f eacl; ~e.tr, t.~s recei~~ts cvidencin~; the pa~-ment of all ]a~ti-
t"~~11~~ imi>osed tazes fur th~~ ~~receclin~ c.ilencie~r ~~ear, to deli~er to the :lssociation receipts evidencing the pavment of all liens
fr~r punlie impro~~ernents v:ithin ninetv (901 davs after the same shall hccc>rne due and payable, and to pay or discharge ~'ithi~~
ninety (90) da~•s r~fter Gi1P date, am~ uncl all ~;ovc~rnmental le~•ies that mav be macle on the mort~a~ed ~rr~~7ert~~, ~rn this mrnt~a~r
r~r n~~te, i~r in an~~ nthc•r ~~~.i~• rccultin~~ frnm the tn~~rt~a~e indebtedn~•ss securc~ci }n• this mz~rt~a~c~.
13~ 447
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