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at aU times pr.?ce~bly and qcuetly to eatet upon, lwld, occu ~y uud ~~~r?~~ sa?d I:iud; that said l:uid is (n*r [rom ull c~~cuaibrai~trs;
that they wiU make such fu~ assuranees to perfect the ~oe simpie titb to s;?id land in the Association as mav re:uo,wbly lx•
rcquir~ed; and that they do hereby fu11J? warrant the title to said land and ~?~i!! defend the same ugainst the I:a~•Eu) clain~s o(
.;11 pec~ons ~~~honuoever.
PROVIDED ALt~:~11S that if the ~lurt~;ugors sh•rU weU and tndy ~ay tu?to Il~e Asxx•iatiot~, tlK• i~?~lebtedness evide~~ceci
bv that certain promissory twte, of even date herewith~ made bv t}w ~lortgagors and ~~;~bl~ l() lFM A,SOI'I:IfIWI, io tlK~ prinri~xi!
~
TWELVE ~HOUSAND and no 100 - 12 000.00
.um of l~~q:~rs ( S ' l.
~~~hich note, togethcr ~~~ith intcrest therron as thcn•in specifieci, is ~~:~~~;~ble in munthlv installments of N~TY-EIGHT
and 52/100
- - . . I~Itars (S 98. 52
y ~ Au st 1 1971 µh~~ ~y~~~~
un the. 1St . da oE r.tch maith cummencin with _ . - - - . - . .
:~m to be appliecl, fint to inter~st, and the balauce to prir~cipcil, unti! said indebtedness is paid in full, and shall perfonm, eomp1y ;
~.•ith and abide by each and every the stipulations, agreements, conditions nnd covenantr of raid ~x~omissory note and thic
mortgage, And, including any advances made by the Association to the \tortgagors, or their succt,~ssnrs in title, for any purpose, ~
at any time before the release and cancellation of this martgage, but at no time shall this mortgsge secure advar~c~c a~ account
of s:iid origir~al note together ~~hth such sdditiaial advances in a sum in excess of TWE LVE THOUSAND 1rid :
no/100 ~011~ s 12,OQ0.00
- - _ _ _ . ars ( - plus anv ad~~~xes necessan. ;
tu pmtect the seciuity and costs, ihen this deeii ancl the estate hembv cmatecl s~all emse and be null and ~•oid. ~
AND THE ~fOR1'GAGORS DO hcreby cv~enant and agree: -
1. To pay all and singuL~r the principal and interest and other swns of money ~ra~~abk b}' ~ttue of said ~rumis.cory nutc
.~nd this mostgage, or eithes, pmmptly on the da~5 respectively the same severally come due.
2. To pay all and singular ihe tases, assessments, levies, liabilities, obligations and incumbrancc~ of every nature and kind
no~v an said described pinperty, or that herr~after inay be im , s~~ffered, placeci, kwiecl, or assessed thereon, or thlt hereafter
ma~• be levied or assessed upon this 1liortgage, or the inde tedness securecl hereby, rach and every, ~vhen due and payablc,
ucrord"nig to la~v, before they become delinc~ue~t, and befote any interest attaches or an~ pe~aity is incum~d- and insofar :u .
thereof is of record the same si~alt be pmmpdy~tisfied and discharged of recortl ~nd the original official document (surh
:?s, for iactance, the tax receipt or the satisfaction raper officially endorsecl or certified) shall be placecl in the hanclc of said .
Associaticm as ~Iortgagee ~.~thin ten davs next after pa~~ment; and in the event that uny themof is not paid, ~tisfied and dischargect,
said Association mav any time pa~• the sa~ee or any part thereof ~~ithout ~vai~zng or a[fecting any option, lien, equih~ or right
under or bv ~~rtue uf this itortgage, and the fult amount of e:ich ar.d everv such payment sha11 be immediately due and }~y:?ble
and shall tx-ar interest fmm the date thereof until paid at the r.tte stated in the note securect hereb~• and t~GethPr ~~tith such iuter- ~
c~st shall be secureci bv the lien of -this ~tortgage. ~
3. To keep the buildings and all equipment and penonal property now or hetea[ter on said premisa rnvered by this mortgage, ~
iiuured i~ a sum equal to at least the amount o[ the mongage, ot an amount sutficient to compir rri~i~ any co-insunnce requi[r-
ment mvering the same under the iaws of the State oE Florida. cavering loas trow both [irr and storm, making the Mss under said
policies, each and ea•ery, payable to tbe Associatiou, as mortgagee, as iu interest may appear, and said i~uuranct shall b~ in a good
and responsiblt insutance company satubctory to said Association, and written by a responsible local agent satis(utory to said ~lsso- i
ciation: and the policy or policies shall bear a standard mortg-age ctause without contribution, and, i[ the original principat a~nount ~
of the mortgagr is Fi[ty Thousand and no(100 Ibltan (j50,00(1.00) or in excess thtreot, stull be held by the ~lssociation, and, in
the erent anr sum of money becomes payable u~~der such policy or policies, the Association shall have the option to receive and applr
the same on account of the indebtedness hereby secured, or to permit the mortgagon to rective and use it, or any pan thereof. for
other purpoaes, without thereby wai~•inR or impairing any equity, lien, or right under and by airtue of this mortgagt, atzd mar
place and pay [or such insunnce, or any part thereo(, without waivinK or af[ecting its option to (oreclaae, or any right hereunder, "
and the fu11 amount of each and e~ery such payment shall be immeciiately due and payable and shall bear interest (rom the date
thereot until paid at the nte stated in the note secured hereby and together with such interest shall be secured by the lien oE this
~fortgage.
-1. To permit, commit, or suffer no N;~ste, impairment or deterioratan of wid propert~•, or :?ny part thereof, and upon -
the failora of the mortga~ors to kecp the builclin~;s on said p~+opert~> in go«l condition oE repair, the Association may demand the
immediate repair of said bu:ldings or the immediate mpavment of the debt hereby securecl, and the failure o( ehe ~nortgagors ~
to compiv ~vith said demand of the Association for a peri«I nf Thirty (30) da}~s, ahall rnnstittrte a brrach of this modgage,
and, at the option of the Association, immediatPl~~ mature the entire amount of principal and interest hereb~• securecl, and the
Associatan, immediatety and w•ithout notice, mav institute pmccr~iirsas to foreclose thu mortga~e anrl apph~ for the appointment
of a Receia•er, as hereinaftcr pmvided. ~
TRis mortgage eontraet ixovides for aciditiunal advancrs ~chich nuiy be made at t}~ uptiun of the assoecition anc;-` {
seeured bv this mortgage, and it is agreeci that in the event of such advances the amount may t~e addecl to the mortgaFe debt ~
and shall inerease the unpaid balance of the note hereby seciued bv the amount oE snch advance and shzll be a part of said
note indebtedness under all the terms of said note and this contract :~s fulty as if a new suc~ note :u~d oontract «~cre executec!
ancl de1i~•ered. An :~dditional advanc~c agreement may be given and accepted for s~ich advance and prov~sion ~na~ be made for
diffcmnt monthlv pa~•ments and a different interest rate and other express modifirations oE the contract, but in :~ll~other respects ~
~hic contract sh.ill remain in full force and eff~ct as to said indebteciness. includinR all advsnces. :
I
6. If anv of the sums of money herein rEferred to be not promptly and fullv paicl within Thirty (3(?) days next after 1
the same sever.iUy~ rnme due and payable, or if each and every the stipulations, agrc~cment, amditions, and rovenants of caici ~
pcomissory note and this deed, or either, are not duly performeci, complied w-ith aod abided by, the aggregate sum mentioned 1
in said promissorv note and anv other amount or amounts added to the mortgagc indebtedness under the terms of this mortgagc ~
shall become due and pa~•sble (orthwith or theteafter at the option oE the Associ:ition, az fully and compktely as if said aggregatc• ~
sum of monev was originalty stipulated to be paid on sueh dav, anvthinR in raid promissory note or herein to the rnntrarv not- ~
withstanding. " " -
To detiver to the Association, on or before ~tarrb 15th, of cach year, tax receipts evicleocin~ the payment of all lav~•-
Iuify im~osed taxes for the precc
clin~; r.ilenclar year, to delivet to ihe Assoeiation reeeipts evideneing the pe~yment oE all liens
for pub~ie improvements w~thin ninety (90) days after the same shall txxome due and payable, and to pay or discharge within
ninety (90) da~s after due date, any and al) governmental ]evies that may be made nn the morts;aqeci property, on this mortgage ~
~r note, or in any nther way resultinR fmm the mortgage indebtrJnes.a seeureci by this mortR~Rt•, ~
. ~ _ e~a~i~3 2974