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Home My WebLink About0734 ~ : 3 ~ t at all timespe~ceabiy and quiedy to enter upon, hold, occupy and enjoy su~d l:ind; that said land 'u free from all encumbrances; ; that they wiA make such fucth~ assu:anoa E~ Perfed the fe° slmPle title to said land in the Association as may reasonably be ` r~uired; and that they do hereby fully warrant tha title to said land and ~vill deEend the s:ime against the lawful claims of ~ all persons whomsoever, i PROVIDED ALWAYS thut if the 11lortgagors shaU well and truly pay unto the Association, the indebtedness evidenced by that certain promissory note, of evea date berewitb, made by the Mortgagors and ~ray:ible to the Association, in the principal s~~m of __ELEV.~~Y__T_~QUSAa.YI?__THRFE .HUNDRED at1d.11T0/ lU.Q. Dollars (S 11~ 300.00 ~.~hich note, together ~vith interest thereon as therein specified, is p:?yablc in monthly instaliments of _ EIGHTY-EIGHT and NO/100 - - - - - - - - - - - ~ - - - . _ . . . . . - ~ _ _ - - s . s oo Dollars ( 8• on the---- 2~-- _day of each month commencing ~vith.. .----F~1~r~~'.3[ _2 Q~-__ 19.~$--------------------------------which payments are to be applied, first to interest, and the balance to principal, until said iadebtedness is paid ia hill, and shall perform, comply with and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and thu : mortgage, Md, includiag any advances made by the Association to the 1liortgagors, or their succcssors in tide, for any purpoae, at anv time befoc~e the release and cancellation of this mortgage, but at no time shall this mortgage secure advances on account . oE said original note together ~vith such additional advances in a sum in excess of____.___._____ELEVEN THOUSAND ~ THRE~_HUNI2REI~_.and.NQ/_1Q~_-_--_-_---_-_---_-__ . Dollars (s___ l lj 300,. 00_), plas any advances neccssary to protect the security and costs. then this deecl and the estate hemby created shall cease and be null and void. AND THE 11iORTGAGORS DO hereby cuvenant and agree: 1. To pay all and singular the principa1 and interest and other sums of money payable by virtue of said promissory note ;~nd this mortgage, or either, pmmptty on the days respectively the same severally come due. : 2. To pay all and singular the taxes, asses~nents, levies, liabilities, obligations and incumbrances of every natnre and ldnd _ no~v on said described property, or that hereafter may be im , suffeied, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon this 1liortgage. or the inde tedness secured hereby, each and every~ when due and payable, uccorcling to la~v, before they become delinquent, and before any interest attaches or any penalty is incumed; and insofaz .u any thereof is of record the same shall be promptly satisfied and discharged of record and ihe original official document (such as, for instance, the ta~c receipt or the satisfaMion paper officially endorsed or certified) shall be placed in the hands of said Association ~s \iortgagee within ten days next after jrayment; and in ihe even? that any thereof is not paid, satisfied and discharged, said Association may at any time pay the same or any part thereoE ~vithout waiving or affecting any option, lien, equitY or right under or by virtue of this ~iortgage, and the full amount of each and every such payment shall be immecliately due andpa yable :uid shall bear interest from the date thereoE until paid at the rate stated in the noie secured hereb~- and together ~vith such inter- est shall be secured by the lien of this biortgage. 3. To keep the buildings and all equipment and penonal property now or hematter on aaid premises rnvered by this mortgage. insured in a sum equal to at least the amount ot the mortgage, or an amount su[[icient to rnmplr with anr co-insunnce require- ment rnvering the same under the laws of the State o[ Florida. mvering loss [mm both fire and storm. making the toss under said policies, each and every, payable to the Association, as mortgagee, ac its interest may appear, and said insurance shall be in a good and responsible insurance company satis[actory to said Association, and written by a responsible local agent satisfactory to said Asso- ' ciation; and the policy or policies shall bear a standard mortgage dause without contribution, and, iE the original printipal amount o[ the mortgage is Fiftr Thousand and no/100 Dollats'(550,000.00) a~ in excess thereof. s6all h~ held br the Association, and, in che event any sum oE m~ney becomes payable under such policy or policies. the Association shall have the option to receive and apply the same on account of the indebtedness henby secured. or to permit the mortgagon to teceive and use it, or any part thereof, for ocher purposes, without thereby waiving or impairing any equity, lien, or 'right under aad by virtue of this mortgage, and may place and pay for such insurance, or any pare thereoi, without waiving or atfecting its option to foreclose. or any right hereunder, and the fuU amount of each and every such payment shall be immediately due and payable and shall bear interat fmm the date thereoE until paid at the rate stated in the note secured hereby and cogether with such interest s6all be secured by the lien oE this ~ ~fortgage. ~f. To permit, commit, or suffer no waste, impairment or deterioration of said proped~•, or any part ihereof, and upon the failuro of the mortgagors to keep the buildings on said pmperty in good condition of repair, the :lssociation may demand the immediate repair oE said bu:ldings or the immediate repayment of the debt hereby secured, and ihe failure of the mortgagors to rnmply ~vith said demand of the Association for a period of Thidy (30) days, shall constitute a breach of this mortgage, and, at the option of the AssociaHon, immediately mature the entire amount of principal and interest hereby secured, and the Association, immediate}y and without notice, may instit~te proceedin;s to foreclose this mortgage and app1~• for the appointment of a Receiver, as hereinaRer provided. 5. This mortgage contract provides for additional advances ~vhich may be made ai the option of the association and secured by this mortgage, and it is agreed that 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 advance and shall be a part of said note indebtedness under all the terms of said note and this contract as fully as if a new such note and contract H•ere executecl ~ and delivered. M additional advance agreement may be~ given and accepted for such advance and provision may be made for ~ clifferent monthlv payments and a different interest rate and other express modifications of the rnntract, but in all other respec~s ihis contract shall remain in full force and effect as to said indebtedness, including all advances. n 6. If any of the sums of money herein referred to be not promptly and fully paid K~ithin Thirty (30) days next after ~ the same severally come due and pay,able, or if each and every the stipulations, agreement, conditions, and covenants of said ~ promissory note and this dced, or either, aze not daly performed, complied with and abided by, lhe aggregate svm mentioned ~ in said promissory note and any ot6er amount or amounts added to the mortgage indebtedness under the terms of this mortgage ~ shall become due and vable forthwith or thereafter at the o don of the Association as full and com letel as if said a ate sum of money was orig~nally stipulated to be paid on such day anything in said promissory note or herein to the contr~rvenot- ~ .vit}utanding. ~ 7. To deliver to the Association, on or before tiiamh 15th, of each year, tax receipts evidencing the payment of all laN•- ~ fiill un taxes for the reeeclin ralenciar ear• to deliver to the Assoeiation reeei evidenein the ent of all lienc Y~~ P S Y• P~ g PaYm ~ for pub 'c inprovements within ninety (90) days after the same shall hecome due and payable, and to pay or discharge within ~ ninety (90) davs after due date, any and all governmental levies that may be made on the mortgaged-propecty, on this mortgage ~ ~r note, or in any other way resulting from the mortgage indebtedness secured by this morigage. ~ ~ ~ B~K~70 P~~ .733 ~ - _ _ ~ > ~ . '~ca~'~Y,~.~' s .-s.~~.:i ~ '~-~,~;s ~~s~~. t, ' _ _'i:.~