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It is aflreed that any additional wm or sums advorice~ l3y ~he then ~wlder of the ~ote secu~ed he~eby
ta the then owner of the real estate desc~ibed herein at ony tlme within twanty yeors from ths dote of this
mortg~~e, with interest thereon ot the rote o~reed upon at the time of eoch additional loon or adMO~ce ~
shail be equolly secured with ond hove the some prioriry os the ori9inol indebtedness ond be subject to ol~
of the temns ond provisio~s of this rrwrtgoge, if wch odditiaal loon or odvonce is evidenced~ o~
rwte of the Borraw~ers that is identified by recitol thot it is secured by this ~nort~ops,
agg te cmount of p~~incipol outstanding ct a~y one time slwll ~ot exceed a'+ omountequo
1 to one hun-
dred~fty per cent (150~Xi) of the prlr~cipol omount originoily sewrod hereby; a'~dp~ ded further tF?ot
it is understood cnd cy~eed thot this futu~e odvonce provision shall not be constnxd to obligote the then
holder of the note to make ony such odditiorwl loons or advonces. ~t is furthe~ c~reed thot a^Y additicnol
note or notes executed ond delivered u~de~ this future advcnce pravision shall be lncluded in the wond
"note" wherever it appeors in the context of this rrwrtg~ge.
MORTGAGORS COVENANT AND AGREE:
1. Thot ct the time of the ex~cution and delivery of this nwrtgo~e. Mo~tgopors om welt seized of
said premises in fee simple, hove good ~i9ht ond cuthority b nwrtgoge the sorne os hercin pravided, thot
said premises cre free from oll incumbronces a~d cho wFwtevar, ond thot tiAort~~ will forever
• warront ond defer+d the some a~inst all lowful claims vi~~tsoever, tt~ot it shoil be lowful for ~~opef
at cll times peaceobly ond quietly to enter hold, occupy cnd e~joy soid pnemises cnd every po
2. To keep soid premises insured for the protection of Mortgogee in wd~ momer, in wd~ oma~nts ,
and in such camponies as MoKgogce moy from time to time cpprove, ond to k~eep the policies the~efor, ;
properiy e~dorsed, on deposiT with Mortgagee; o~d thot loss proceeds (leu expenses of collectio~ sholl, ~
ot Mo~tgcgee's option, be opplied on soid indebtedness, whether due or not, or to the ~estorotion of scid ~
impravements.
3. To poy oll tcxes end special ~ssess~nents of ony kind thnt Fwve been or moy be levied or essessed
within the Stote of Florido upan scid premises, or ony port thereof, or t~on the note or debt secured hereby.
or upon the interest of Mo~tgoyee in scidprem ises or 1n scid note or soid debt, c~d procure and deliver to
Mortgogee, at its home offite, ten doys before thedoy fixed by law for the first interest or penalty to
occrue thereon, the officiol receipt of the proper officer siw~wing poyment of oll wch taxes cnd ~~s.sme~ts-
4. To keep soid premises free from all prior liens ord upon demond of Nbrt9o9~ ~ P~Y a^d P~u~
release of ony lien which in ony woy may impoir the sewrity of this mort9oga.
5. In the event of default by Mortgogors urx~er porogrophs 2, 3 or 4 abo~ve, Mortgcgee, at its optiron
(whether electing to declore the whole indebtedness he~eby secu~ed due ond collectible or not), may
(o) effect the insurance obave pr+o~vided for end poy the reosorwbie premiums a~d ctwrges therefor, (b) PoY
all soid taxes cnd ossessments without detemnining the volidity thereof (unless Mo?tgogors have instituted
Proper legc~l proceedings to test the v~olidity of such taxes or assessmeMs m~d have dePos~ted with Mort-
gogee secu~ity therefor acceptcble to it); ond (c) poy sud~ liens, and oll costs, and s
fees herein covenonted to bepo id by Mo~tgogors; and oll wd~ ts, with intee~ ~eon from
time of pcyment at the rate of ten per ceM per cnnum, shcll be ~~c port of the indebtedness secured
by this mortgoge and sholl be immediatefy due and poyooble by 11Aortgogors to Mort9~9~-
6. Thot there is no ossignment or pled~e ofony leoses of, or rentals or incflrrwa from, said premises
now in effect, and that, until said indebtedness is fully paid, thay will not moke wd~ ~ssignment or
pledge to cnyone other thcn Mortgo~es and wili not, without the prwr written aPP~o~vcl of Mortgagee,
consent to o ccncetlotion of cmr of said leas~ hoving at the time an red term of more thon two
yeors, or to o releose or reductian of the licbility of any les~ses es~der such~se
7. To keep the buiidings cnd other impno~veme~ts r~aw or hereofter erected in good condition ond
repair, not to commit or suffer arry vroste of said premises and to permit Morcc~ogee to enter at ali reoson-
obie times for the pu~pose of inspecting-th~r premises.
8. That~y will poy the indebtedness hereby secured promptly and in full oompliance with the terms
~ of scid note ond tF~is mortgoge, and thot the time of payment of the indebtednes.s her~y securcd, or of any
I portion thereof, moy be extended or rer~ewed, and arry portioru of the premises herein described may, with-
~ out notice be released from the lien he~eaf, without releosing or affecting the persoral liability of cny person
i or corporation for the poyment of said indebtedr~ess or the ~ien of this instnxneht upon the ~emoinder of
E scid premises for the full amount of said indebtedr~s.s then renwining ur~id, and no chonge in the
ownership of said premises sholl releose, reduce or otherwise effect any wch personol licbility or ti~e lien
hereby crected.
9. Thot if the (ocn secured he~eby is obtoir~ed to assist in financing building constnxtion or rerrwdel-
ing, or cny other improvements to the property: (c) if such impravements sholl ~ot, in accordo~ce with
plans ond specifications approved by Mortgogee, be completed prior to the expiration dote of the loan
commitment, or (b) if wo~lc on such improvements sFwll cease before completion and remoin abnndoned
for ape riod of fifteen consecutive doys, the existence of eithe~ circumstar~ce sholl constitute an e~vent of ~
default under the terms of this instrument, ond ot orry time thereofter, the said rwte ond the whole indebted- ;
ness secured hereby siwll, at the option of the Mortgngee and without notice to Mortgoc~ors (such notice
being hereby expressly waived), become due and collectible at once by foreclowre or otherwise. In the
eveni of such cessation or obondonmeni of work as aforesnid, Mortgogee moy, ot its op~tio~, a~so enter ~on
the property and complete the impravements ond Mortc~ogors hereby giv+e to Mortgagee full pawer and
authority to make such entry ond to enter into such controcts or arnongements as it moy consider necessory
to complete the same. All moneys expended by Mortgogee i~ ca~nection with comp~etion of said imprave-
ments sholl be included in the indebtedness hereby secured and shctl be payable by Mortc~agors immediotey
and without demcnd, with interest at the rate of ten per ceni per unnum. Until tl~e loan sholl have been
fully disbursed, the agents of the Mortgogee shall hav~e the right b enter upon the property at ony and
all times to inspect the imprrnrement project thot is tu~der woy.
IT IS MUTUALLY AGREED THAT: -
1. Mort sFwll be subrogoted to the lien of ony ~d all prior inc~anbrances, liens or ctwrges paid
and discFwrged~ the proceeds of the note hereby secured, a~d even ti~ough said prior liens have been
~ releosed of record, the repoyme~ of soid note sh~ll be secured by sud~ liens on the portions of scid
premises affected thereby to the exteM of such poyments, respectively.
2 Wherever by the temu of this ir~stnur~ent ar of soid rate Mortgogee is given ony option, wd~
option mcy be exercised when the right ourues, or ot ony time thereofter.
3. All Mortgogors sFwll be jointly and severolly liable fior fi,lfillment of their cavenor~ts and agree-
ments he~ein contained, cnd all pravisions of this mortgoge shall inure to cnd be binding upon the heirs,
executors, odministrotors, successors, grontees, lessees and assic,~s of the Parties hereto, respectively.
4. In case default shall be made in the poymnt of any instalment of soid note or of interest therecn
when due or if there sFwll be c fcilure ~ the port of Mortgagors to comply with arrv co+ierw~t, cor~dition
or provision of this martc~oge, then the said note cnd the whoie indebtedness s~ecured by this. mortgage.
including all poyments for toxes, auessrrients, inwronce premi~xns, liens, costs, expenses and ottorne~/s
fees herein specified shall, at the option of Mortgoc,~ee and without notice to Mortgagors (such notice being
hereby expressly waived), become due o~d collectible ct once by foreclosure or otherwise.
5. If the note ond mortgoge or either of them sholl be placed in the honds of cn ottorney for col-
lection or foreclosure, or if Mortgogce voluntarily or imroluntcrily beoo~r+es or is nwde o party tocny ~su~t
or proceeding relating b the premises or to this mortgoge or soid note, Mortgogors sholl reimburse Mort-
gogee for its reesorwble ettornry's fees, costs ond expe*~se of Procurin9 obstrocts a othe~ evidences o# - ~
title and title insyronce in connectio~ therewithp~K~~~
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