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Home My WebLink About2751 ~ t at all timespea ceably and quiedy to enter upon, hold, occupy and rnjoy suid 1.?nd; that said land is free fmm aU encumbrances; ~ that they wiU make such further assuranc~s to Pe~fect th° f~° A"'P~e tide to said Iand in the Associ~tion as mav reusonably be ~ required; and that they do hereby fully watrant the tide to ssid land und ~vill defend the same against the la~vfyl clainu of all persons whomsoever. . ; PROVIDED ALWAYS that iE the hlortgagors shall well und truly pay unto the Association, the u~debtedness evide~iced by ~hac certain pmmissory u~t~, of even date haewith~ made by the Mortgagors and payable to the Association, in the principal sum oE _.T~N_THQIISANU.AND_NQ/1QQ-----------.-.-----------------Doll:~rs (a10, 000. 0~ ~~~hich note, together ~vith interest thereon :u therei~ specified~ is p:?}'able in manthly installments of rTI11TETY-rTINE AND 9~,1si4~=. ~T~~~~~-~~~~~~~~~~~~~~~~~~-~~~-~~~~~~~~~~~~~~~~~~~~-~-~~~~~~-~~~~~~~~~~~w~..~+~ - - - - - - - - . Dollars (S ~9. 95 on the. __u~-- .-._.day of each month a~mmencing ~vith.. -----MaTCh_ll,---19_TQ -------which payments :ue to be :?pplied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, comp1y w~ith and abide by each and every the stipulations, agreements, conditions und covenants of said promissory note and this modgage, And, iuclnding any advances made by the Association to the Mortgagors, or their successors in tidr, for any purpose, ~ at any time before the release and cancellation of this mortgage, but at no time shall this modgage secure advances on account i of said original note together ~vith such additional advances in a sum in excess of._____TEN__TIiQ_LTSA11II2_~ND___________-_ - - - - - - - - - - - - Dollars (i--10,-OQQ.-44---). plus any advances necessary Na/-ioa=----------------- - - - - - to protect the security and costs, then tbis deed and the estate hereby created shall cease and be null an voi . AND THE I?10RTGAGORS DO i~ereby cvvenant and agree: 1. To pay all and singular the principal and interest and other sums of money payable by virtue of said promissory notc and this mortgage, or either, prompdy on the days respectively the same severally come due. 2. To pay aD and singular the taxes, assessments, levies, liabilities, obligations and incumbranc~es of every nature and kind now on said described property, or that hem,after may be imposed, suffered, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upc~n this 1ltortgage, or the indebfe~RCSS securecl hereby, each and every, when due and payable, sccorcling to la~v, before they become delinquent, and before any int~:tst attaches or any penalty is incurred; and insofar cu E any thereof is of record the same shall be prompdy satisfied and discharged of record and the original official document (such ~ as, for instance, the tax rec~ipt or the satisfaction paper officially endorsed or certified) shall be placed, in the hands of said ! Association as :liortgagee within ten days nezt after payment; and in the event that any thereof is not Iraid, satisfied and discharged, said Association may at any time pay the same or any part thereof ~vithout waiving or affecting any option, lien, equity or right under or by virtue of this ~tortgsge, and ihe full amount of each and everv such payment shall be immediately due andpa yable and shall bear interest from the date thereof until paid at the rate stated in the note securecl hereb~ and together with such inter- est shall be secured by the lien of ihis Mortgage. 3. To keep the buildings and all equipment and peisonal property now or hereafter on said premiSes oovend by thia mortgage. insured in a sum equal to at least the amount o[ the mongage, or an amount suE[icient to rnmply with any co-ii.surance, requite- ~ ment oovering the same under tht laws o[ the State of Florida, mvering loss from both fire and storm, making the loss under said policies, each and every, payable to the Association, as mortgagee, a~ iu interest may appear, and said insurance shall be in a good ~ and responsible insurance company satistaaory [o said Association, and written by a responsible local agent satis[actory to said Asso- ; ' ciation; and the polic~r or policies shall bear a standard mortgage dause without mntribution, and, if the original principal amount ' oE the mortgage is Fi[ey Thousand and no/ 100 Dollan (;50,000.00) or in excess thereof, shall be held by the Association. and, in ; ~ the event any sum of m~ney becomes payable under such policy or policies, the Association shall have the option to receive and apply i the same on account ot the indebtedness hereby secured, or to permit the mongagors to receive and use it. or any part thereof, for ~ other purposes, without themby waiving or impairing any equity, lien, or right undet and br virtue of this mortgage, and mar ~ place and pay tor such insurance, or any part chereof, without waiving or affecting its option to toreclose, or any right hereunder. 6 and the full amount of each and every such payment shall be immediately due and payable and shall bear interest from the date ~ ehereof until paid at the rate swced in the note secured hereby and together with such interat shall be secured by the lien oE this 1lfortgage. To permit, commit, or sufEer no waste, impairment or deterioration of said property, or :tny patt thereof, and upon ~ the failuro of the mortgagors 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 mortgagors to comply ~vith said demand of the Association for a period of Thirty (30) days, shall constitute a breach of this modgage, and, at the option of ihe Association, immediately mature the entire amount of principal and interest hereby secured, and the ~ Association, immediately and without notice, may institute proceeclin;s to foreclose this mortgage and applv for ihe appointrnent ~ of a Receiver, as hereinafter provided. ~ 5. This mortgage contract provides for additional advances which irwy be made at 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 un~raid balanoe of the note hereby secured by the amount of svch advance and shall be a part of said ~ note indebtedness under all the terms of said note and this cantract as fully as if a new such note and contract w•ere executed ~ and delivered. M additional advance agreement may be given and accepted for such advance and provision may be made for % different monthlv payments ~nd a different interest rate and other express modifications of tbe rnntraM, but in all other respects T ihis contract shall remain in full force and~ effect as to said indebtedness, including all advances. 8. If any of tbe sums of money herein referred to be not prompdy and fuUy paid within Thirty (30) days next after the same severally come due and payable, or if each and every ihe stipulations, agreement, conditions, and covenants of said ~ promissory note and this dced, or either, are not duly performed, complied with and abided by, tbe aggregate snm mentioued in said promissory note and any other amount or amo~u?ts added to the mortgage indebtedness under the terms of this mortgage shall become due and pa~~sble forthwith or thcreafter at the option of the As~ociation, as fuDy and rnmpletely as if said aggregate ~ sum of money was originally stipulated to be paid on such day, anything in said promissory note or herein to the contrary not- ~ .vit}utanding. - 7. To deliver to ihe Association, on or before March 15th, of each year, tax receipts evidencing the payment of all law~- ~ {ully imp~s~ taxes for the preceding calendar year; to deliver to the Association receipts evideacing the payment of aIl liens ~ = for pub 'Lc improvements within ninety (90) days after the same shall t~ecome due and payable, ancl to pay or discharge within ~ ninety (90) davs after due date, any and all governmental levies that may be made on the mortgaged pmperty, on this mortgage ~ or note, or in any other way resulting from the mortgage indebtedness secured by this mortgage. ~ ~u s~ 600K 182 ~274fi ~ ~ ~ ~ ~ , r~,~"~, . ~.a_. f.. ~ ~"y . . .:.,r 3... F. . .rt va _ >.F-.~,~a ~ 2'~~~