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Home My WebLink About2578 . at all times prace~ably und quietly to enter upon, hold, ocrupy and enjny said l.u~d; that suid Ixiid is frct; from all encumbrances; that they will make such further assurances M perfect the fee simple title to said land in the Association as may re.?sonably Uc required; and that they do hereby fuAy warcant the tide to said land und ~~~ili deEend the same agaii?st the la~~•ful rl:~ims oE all ~~e~o~u ~~~homsoever. PROVIDED ALW~11S that if the ~lortgagurs shall well nnd truly p:?y unto tl?e Asweiation, the inciebtednesc evideueed by that certain promissory note, of even date herewitty made bv the \lortgagors and p:?}•ubte to the Association, in thc princi~~.zl sum of TEN THOUSAND AND NO/100----------------------------~~ap;~~ ~g 10, 000, 00 ~~•hich note, together «~th interest the~con as thercin specifiecl, is lx?~:?bt~ in monthiy instal6nents of NINETY-SEVEN AND 02/100--------------------------------------------------------------------- - - Dollars 97. 02 . on the 20th ~,iy ~f each manth a?mmenciug ~vith JallUaly_20~__ 19?0_ . which payments = are to be uppiied, first to interest, and the balance to principal, until said indebtetlness is paid in full, and shall perfotm, eomply ~~~eth and ubidc by each and every thc stipulations, agmements, conditions 1nd covenants of said promissory note and this mortgage, And, including any advances made by the Association to the ~lortgagors, or their successorx in tidr, for any purpose, at any time before the tetease and rancellation of this mortgage, but at no time sha11 this mo,tgage secure advances on account of said original note together with such additienal advances in a swn in excess of_TEN._THfQUSAND..ANI2_NQ~10Q a n Dollars (S plus any adv nces ecessan~ - - - ~ - - - - - - ta protect ihe security and costs, then this deecl and the estate hereb~- crcated sh:ill cease and be null and voici. AND THE AfORTGAGORS DO hereby cvvenant and agrec: I. To pay all and singular the principal aud interest and other sums of money pa}'able b~• virh~e of said promisson~ nutc ancl this mortgage, or either, prompdy on the days respectively thc same severally come due. 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind now an s.~id dFSCribed property, or that hereafter may be imposed, sufferecl, placeci, le~ried, or assessecl thereon, or that hereafter may be leviccl or assessed upon this Atortgage, or the indebtedness securecl hereby, cach and every, when due and payable, accorclu~g to la~~•, before they become delinquent, and before any interest attaches or an~~ penalty is inet?rreci; and insofar :u .iny thereof is of record the same shall be prompily s:itisfiecl and dischargecl of record and the original official document (such ss, for instance, the tax receipt or the satisfaction p:iper officially endorsed or certifiecl) shall be placecl in the hands of said Association as \iortgagee ~vithin ten d:?_vs next after papment; and in the event that any thereof is not paid, satisfieci and discharged, said Association m:?p at any time pa~~ the ~ame or any patt thereof ~vithout waiving or affecting any option, lien, equih• or right under or bv ~'irtue of this ~tortgage, and the full amount of each and every such payment shall be immecliately due andp~ ~:~ble and shall bear interest [rom the date thereof until paid at the r.tte stateci in the note securecl hereb~• and to~ether ~vith sueh inter- ; est shall be secured by the lien of this 1liortgage. ? 3. To keep the buildings and all equipment and pe~onal pioperty novr or hemafter on uid premises covered by this mortgage, insured in a sum equal eo at least the amount of ehe mongage, or an amount sufficient to comply with any co-insurance require- ment covering the same under the laws of the Sta~e o[ Florida, cocering loss from both tire and stoim, making the loas under said policies, each and every, payable to the Associatiou, as mortgagee, a~ iu interest may appear, and said insurance sha;l be in a good and responsible insurance company satis[actory to said Association, and written by a responsible iocat agent satisiactory to said Asso- ciaeion; and the policy or policies shall bear a standard mortgage dause without contribution, and, it the oriRinal principal amount o[ the mortgage is Fifty Thousand and no/10(1 Dollars (S50,OOO.W) or in excess thereof, shall be held by the Association, and, in ehe ecent any sum ot money becomes payable uuder such policy or policies, the Association shall have the opcion to recei~e and apply the same on accounc o( the indebtedness hereby secured, or to permit the mongagon to receive and use it, or any part thereo[, for other purposes, without thereby waivinR or impairing any equity, lien, or right under and by eirtue ot this mortgage, and may ~ place and pay for sucl~ insurance, or any part thereoE, without waiving or affecting its option to toreclose, or any right heteunder. and the iull amount oE each a~id e~~ery such payment shall be immediately due and payable and shail bear interest from the date thereo[ until paid at the rate staced in ehe iiote secured hereby and together with such interest shall be secured by the lien of this Af ortgage. To permit, commit, or suffer no waste, impairment or deterioration of s:~id propert~•, or :iny part thereof, and upon : the faitura of thc mortgagors to keep the bu;ldings on said propertti• in good condition of repa'v, the Association may demand the ; immediatc repair of said bu:ldings or the immediate repayment of the debt hereby securecl, and the failure of the mortgagors ' to complv ~vith said demand of the Association for a period of Thirty (30) days, shall constitute a breach of this ~nortgage, ~ and, at thc option of the Association, immediatPlv mature the entire amount of principal and interest herebv secured, and the - Association, immediately and without notice, may institute prnceedin~s tn foreclose thu mortgage and applv for the appointment of a Receiver, as hereinaftet provided. ~ 5. This mortgage coniraet provides for addition:il advances ~vhich may be made at the option of the association ancl secured bv th;s mortgage, and it is agreecl that in the event oE such advances the amount may be addeci to the mortgage debt and shall increase the unpaid ba:ance of the note hereby secured by the amount of such advance and sh.al! be a part of sai<i ~ note indebteclness under atl the terms of said note and this contract as fully as if a new such note and contract «~ere executecl ~ and ~leli~•ered. An additional advance agreement may be given and accepted f~r such advance and provision may be made for ~ ciiFferent monthlv pa~~ments : nd a different interest rate and other express modifications of the contract, but in all other respects ~ ihis contract shall remain in f~dl force and effect as to said indebteclness, including all advances. ~ ~ 6. If any of the sums of muney herein referred to be not prompdy and fullv paid within Thirty (30) days next after ~ the same severally rnme due and payable, or if each and every the stipulations, agreement, conditions, and covenants of saic'. ~ promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentianed j in said promi~sory note and anv other amount or amoants added to the mortgage indebtedness under the terms of this mortgage ° shall become due and pa~•3ble forthwith or thcreaEter at the option of the Assaiation, as fully and completely as if said aggregate ~ sum of money ~vas originaliy stipuiated to be paid on such day, anything in said pro~issory note or herein to the contrarv not- ; tia~thstanding. " 7. To deliver to the Association, on or Lefore tiarch 15th, of each year, tax receipts evidencing the payment of all laH-- fu11y imposed taxes for the prerec]ing r.?lendar year, to deliver to the Association receipts evidencing the payment of all liens for pub~ic impmvements within ninety (90) days after the same shall become due and payable, and to Iray or discharge within ninety (90) da~~s after due date, any and all governmental levies that may be made on the mort~aged property, on this mortga~~ or notc, or in an~~ other way res+dting from the mortgage indebiedness securecl by this mortgage. i ~ 800K~~~ #~1SE2~•~8 ` . _ - - - - - _ _ _ _ _ _ ~ . ~