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Home My WebLink About2791 at all timespeaccably and quietiy to eater upoa, hold, oocupy and enjoy s~d land; that said land 'u free from all e~cumbrances: that they wiII make s~ch fu~ther au~o~ ~o perfect tLe fee dmple title to said land in the Association as may reasonably be required; a~d that thay do bertby fully wacrant the title to a~?id tand aad will defend the snme against the luwful claims oE aU persons whomsoever. PROVIDED ALWAYS that if the I~iortgagors shall weA and truly pay unto the Association, the indebtedness evidenoed by that certain promissory note. of even date h~with, made by the Mortgagors and paw.~ble to the Association, in the principal ~n of __SIX_THOU~ND FNE_~[T~A~~?_,A?I~II2_1~IQIlOQ~--.-_-.-.-.--.----_- Doilars (Z 6i 50.0. QQ ..~hich note. together with interest thereon as therein specified, is payable in monthly installments of. FIFTY-ONE ANII NO/100--------------------------------_----.-_------------------------_-.--------- - - - --noliars (s 51..00- o~ the_-2~-----------day of each month commencing with.------ Jtu1e_ 20 _1968 ------------------------------which payments are to be ap~,'~, first to interest, and ihe balance to principal, until said indebtedness is paid in fuU, aad sball perfomn, oomp1y .vith and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and this mortgage, And, including any advances made by the Assoc~ahon to the Mortgagors. or their successors in titks, fot' anY Purpose~ at any tia~e before the release and cancellation of ihis mortgage, but at no time shall this nwrtgage secure advances on account of said original note together with such additional advances in s? sum in excess of_1S~-TIiQILSAI~II? S~IYE_~LLIN~BED AND NO~1!)0-_---_---------------------------_nollars (S--fi,-5~Q~2------), pliu any advances nece~ry - to protect the security and costs, then tbis deed and the estate hereby created shall cease and be null and void. AND THE MORTGAGORS DO hereby cvvenant and agree: 1. To pay ,ill and singular the principal and interest and other sums of money payable by virtue of said promissory note .?~~d thic mortgage, or eithec. prompdy on tbe days respeetively the same severally rnme due. 2. To pay all and smg~ilar the tazes, a~ts, le~vies, liabilities, obligations and incumbrances of every• nature and Idnd now on said described prnperty, or that hereafter may be im , suffered~ plaoed, levied, or as~ed thereon, or that hereafter may be levied or assessed upon thic Mortgage, or the ind tedaess sec~red hereby, cach and every, whea due and payable, according to law, before they become delinquent, and before any interest attaches or any penalty is incumed; and insofar :~.c any thereof is of record the same shall be promptly ratisfied and discharged -of record and the origanal official document (such as, for instance, ibe tax receipt or the satisfaction paper officially endorse~ or certifierl) shall be placed in the hands of said Associatia? as Mortgagee withu? ten days next aker paymeqt; and in the event that any thereof is not paid, satisfied and discharged, saici Association may at any time pay the same or any pazt thereof ~vithout waiving or affecting any option, 1ien, equity or ri t under or by virtue of this ~~ortgage, and the fuIl amount of each and every such payment shall be immediately due andpa ya le and shall bear interest from the date thereof until paid at the rate stated in the note secured hezeby and together with such inter- est shall be secured by the lien of ihis Mortgage. ' 3. To keep the buildings and all equipment and pezsonal property now or hereafter on said premisa coverod by thii mortgage. ~ insured in a sum equal to at t~ast the amount oE the mottgage. or an amount sufficient w comply writh any co-insurance require- ment oovering the same under the laws of the State oE Florida, rnvering loss fmm both fire and storm. making t6e loss under uid , policia, each and every, payable to the Association, as mortgagee. as its interest mzy appear. aad said insurance shall be in a good and responsible insunnce mmpany satisfattory to said As.sociation, and written by a respo~ible local agent satisEactory to aaid Asso- • 'i ciation; and the policy or policies shall bear a standard mortgage clause without oontribution. and, if the original prindpa! amount ' of the mortgage is Fifty Thousand and no/100 Dollan (=50,000.00) or in access thereof. shall be held by the Association, and, in F che eveac any sum of m~ney b~comes payable, under such polieq or policies, the Assoaation shall have the option to receive and apply f the ume on acoount oE the indebtednesa hereby secured, or to permit the morcgagots co receive and use it, or anq part thereof. for ( other purposes, without thereby waiving or impairing any equity, lien, or right under and by virtue oE this mortgage, and may ~ place and pay Eor such insunnce, or any part thereof, wiithout waiving or atfecting its option to foredose. or any right hereunder. and the Eull amount of each and every such payment shall be immectiately due and payable and shall bear inttrest from the date ~ thereoE uatil paid at the rate stated in the note secured hereb' and together with such interat shall be secuzrd by the lien of this ~ ~iortgage. ~ To permit, commit, or suffer no waste, impairment or deterioration of said property, or :u~y part thereof, and upon the failuro of the modgagors to keep the buildings on said property in good condition of repair, the Association may demand the $ immediate repair of said buildings or the immediate repayment of the debt hereby secured, and the failure of the modgagors ~ to complv with said demand of the Association for a period of Thuty (30) days, shall constitute a breach of this mortgage, and, at t~e option of the Association, immediately mature the entire amount of principal and interest hereby secured, and the Association, immediately and without notice, may institute proceedinas to foreclose this mortgage and applv for the appointment of a Receiver, as hereinaker provide~. ~ 5. This mo~tgage contract provides for additional advances which may be made at the option of the association aad ~ secured by this mortgage, and it is agreed that in the ev~t 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 advanc~e and shaU be a pact of said ~ note indebtedness under all the terms of said note and this contract as fully as iE a new such note and contraM .+-ere executed ~ and delivered. M additional advance agreement may be given and aecepted for such advance and provision may be made for = different monthlv payments and a differrnt interest rate and other express modifications of the contract, but in all other respects ~his contract sh.ill remain in full force and effect as to said 'mdebtedness, including all advances. ~ 6. If any of tbe sums of money herein referi~ed to be not promptly and fully paid within Thirty (30) days next after ~ the same severally come due and payable, or if each and every the stipulations, agreement, conditions, and covenants of said promissory note and this deed, os eitLer, are not du}y perfam~ed, complied with and abided by, the aggregate sum mentioneci ~ in said promissory note and anv other amount or aznounts added to tbe mortgage indebtedness under tbe terms of this mortgage ~ shall betome due and p~}'~ble fortbwith ar thcrtaEter at ihe option of the Associaticm, as fuUy and completely as if said aggregate ~ sum of ma~r was originally stipulated to be paid an such day. anythin8 in said promissory note or herein to the contrary not- ~ .vitl~str~nding. = ~ 7. To cieliver to the Association, on or before ~~arch lSth, of each yrar, tax m~eiPts evidencing the poyment of all law•• ~ ~ Fully im tazes for the precccling ralendar vear; to deliver to the Association receipts evideflcing the payment of all lien.s r for unp+overneats within ninety (90) clays after the same shall becorae due and payabk, and to pay or discharge within ~ ninetY (90) days aker due date, any and aU govemmental Ievies that may be made on the inortgaged property, on this mortRaRe ~ ~ ~,r rwte, or in any other way resulting from the mortgage indebtedness secured by this mortgaRe. ~ ~ / ~ R ~ r ~ # eoo~171 PACE~7~S3 - - _ _ _ ~r ~ ~ _ : . _ ~