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Home My WebLink About1297 .~t all times ~x~amably ancl c~t?ictly to cnter u~~n, hold. ~xrupy und cuj~?v +.ud land; that ~:~id luu~l is fnr~ fru~n .?ll encumbrances: ~ that they will nrike such further assurances to perfect the fae aimple ti~le to said land in the Ass~xiatiun as mav rrasw?.~hly lx• ;cc;uired; and that they do hereby fully warrant the tide to said l:u~d aud ~cill dt•Eend the same a~uinst thr la~~f~~i clainis uf ~ ; .:Il ~x~nuns ~~hun?s~xv~~r. F PRO~'IDEU AL~\'Al'S th:~t if the ~turt~,~t~urs sh:ill ~~•ell and tnily ~x~v unto the .~~.~x•iation, th~• inclrbt~Yln~•s~ i•~•iden~rd t~~• th.it crrtain promissory note, of even clate here~~~ith, made b~' the \lortg.t~;ors and pa~•ablc~ tu the A.ux•iatiun, iu h~~ ~~rinri~~:~l ~~im of TEN THOUSAND AND NO/100ths------~--~~~~'~~"""""'~~~~~~~~~5 ~5 10~ 000. 00 ~~hich note, togt~ther ~~•ith uiterest therc~c~n us therein s~x~cified, is ~~:~~:il,l~~ in munthl~• instalhnents ~~E EIGHTY-THREE AND 65/100ths-----------------------------------------------•----•---------- F tk~ll:~~s ( S 8 3. 65 un tl~t: lOtrl day of cach ~nonth cvimmrnciu~; a'ith December l0a 1971 which payinents ~ ~re to l~e :ipplied, first to interest, and the balance to principal, until said indebteclness is paid in fu11, and shall perform, comply a ~~~ith aud abide by each and e~•ery the stipulations, agn~ements, conditio~u and cuvenants of said promissorY note and thic rnortgage, And, including any advances made b~• the Association to the ~tortgagors, or thcir successors in titlr, for anv putpase, .:t anv time before the rele~asc and rancellation ~of this mortg:+~~. hut at no time shall this mortgage sec~~re ad~•ances on act~unt ~id uri~in:~l nute tugether ~vith surh additional advanc~~s in a sum in e~cess ofTEN THOIISAN.D AND _NO. /100ths ~~~~~~~~~~.~~~~l~~~~~~"~~~~~~~~~~~~~~~~~~~~~~V0~~1iS ~S 10~ ~1JY~ ~0..~, P~IIS hclV 3(~\'.111Cf5 IlE'CCSS.91V ~...i .t,o., ~1,:~ ,l,u..l ~?,~l ~hp Pct~tP hrrrhv cn•:~ttrl sh:~U cease and be ra~ll and void. ' i`?_---• . _ . _ A\D THE ~tORTGAGORS DO hereb}' cv~'enant and agree_ ~ . 1. To pay all and singular the prineipal and interest and otLer sums of muney pa}•able b~~ ~~rtue oF ~id pru~niccorv nute s u~d this mortgage, or either, promptly on the da~~s respectively the same se~•erally come due. _ , 2. To pay all and singular the tares, assessments, levies, liabilities, obligatiuns and incumbrances of even• nature and I:ind ~ ^sz said c1,e~sribeci pn>~erly, ~r th~t here:~fter mav be imposecl: sufEered, ~~IuctiYl, le~~iecl, or ;usesseci thereon,~or that hereafter ma~• be leciecl or assesseci upon this ~iortgage, or the indebtedness sec•ared hemb~~, each and e~~en•, when di~e and payable, «tiording to 1a~v, before they become drlinquent, ancl hefore unv interest attachcs or an~• penalty is incurred; and insofar as un• thereof is of record the same shali be promptlv s.itisfiecl and~ dischargc~cl of r.~rcl and the original official document (such ~ ~s, for instance, the tac receipt or~ the ~atisfaction Paper officiallv endorsed or crr:ified) shall be placecl in the hancLc of said ; p .lssociation as \tortgagee ~~zthin ten da~~s next after pa~~nent; ancl in the event that anv thereof is not paid, satis(ieci and dischargecl. ; ~ said Association ina~• at any time pa~~ tlie same or any ~rt thereof ~~•ithout ~saiving or affecting ~ny option, lien, equit~• or right ~ under or b~~ ~~rtue uf this ~tortga~e, and the fu11 amoiint of each and every such j~:~ymeM s6a11 be immeciiatelv due andp.~vahle ~ ~ :~nd sha11 I~car interest frum the date thereof until paid at the rate statec~ in the note secureci hereln• and Mgeth~r ~vith such inter- ~ ~~st shall be secured by the lien of this Llortgage. ~ ~ 3. To keep the buildings and all equipment and personal property now or hereafter on said premisa covered by this mortgage. ; ~ i,uured in a sum equal to at least che amount o[ the mortRage, or an amount su(ficient to comply with any co-insurance requim- mrnt co~~ering the same under the laws o[ the State o[ Florida, co~•ering loss [rom both fire and stor[n, making the loss under said = ~wiicies, each and e~•ery, payable to the Association, as mortgagee, as its intrrr~st ma} appear, and said insurance shall be in a good " .ind rrsponsibte i~uurance company satistactorr• to said :lssociation, and writtrn by a responsible local agent satis[actory to said ~1sso- " ciation: and the policy or policies shall bear a swndard mortgage clause witt?out contribution, and, it the original principal amount ~ of thr mortRaqe is Fitty Thousand and no/IINI Uollars (550,000.00) or in excess thereof, shall be held by the Associauon, and, in ` the e~•ent any sum o[ money becomes payable uuder such policY or poticies, the Associaeion shall have the opeion eo receive and apply = ti~e s:+me on account of the indebteclnrss hereby sewred, or to permit tt?e mortgagors to mceive and use it, or any part thereof, for ~ other purpose~s, without thereby wai~•inR or impairinK any equity, lirn. or right under and by vinue o[ this mortgage, and may place and pay tor such iusurance, or any part thereof. without waivinK or af[ecting ies option to [oredose, or any right hereunder, and the tull amount o[ each and e~•ery such payment shall be immeeliatrl}~ due and payable and sha11 bear interest from the date 3 therrof until paid at the raee stated in ehe note secureci hereby and toged~er weeh such interesc shall be secured by the lien of this ~ : ~tongage. To permit, ccmmit, or suffer no ~~•:ute, unjkiirment or deterioration of s,iid prupert~•, or :?ny part thereoE, and ul~on ~f the failuro of the mort i~urs to kec the bi~ildin s on said m ert~• in ocxl condition of re a?r the ~ssociation mav demand the ~ . P 1~ P P fi P~• = immediatc repair of said bu;ldings or the immediate repa~Tnent of tiie (~flit IlffEb~' SCClliE(~, anJ the failure of the mortgagors `'y t~~ complv ~~~ith said demand of the Association for a~eri~xi of Thirtv (30) d:~~'s, sh~ll constitute :i breach of this mort~a~e, = and, at the option of the Assoriation, immediatPh• mature the entire amount of principal and interest hereb~• secured, and the _ .lssociatian, immediately and ~eithout notice, mav insNtute procce~lin~c m foreclose thic mort~a~e and appl.• for the apFwiniment ~~f a Recei~•er, as hereinafter pmvideci. ~ - 3. This mortgage contract provides for additiunal :i(~VJIICCS ~~hich mav Ue made at the uption of the association and ; secured by this mort~age, and it is agreeci that in the event of such aclvances the amount may be added to the mortgage debt F .~nd shall uicre~se the unpaid balance of the note hereby secured bv the amount of such advance and shall be a part of said ~ ~ note indebtednesc under all the terms of said note and this contract as fully as if a new such note and contract ~.-~re executed - ~nd ~lelivered. An :idciitional advance a~recment ma~• l~e gi~•en and accepted for such advance and provision ma~- be made for - ~liffemnt monthh• pa~•ments and a different interest rate and other express modifications of the contrac., but in ~ll~other respects - ihis contraM sLall remain in (ull force and effect as to said indebteclness. includin~ ail advances. - 6. If anv o( the sums of muney herein referred to be not promptly and fullv paid ~~~ithin Thirt}• (301 days next aftrr the same se~•crally ~Y~me due and payable, or if each and every the stipulations, a~rccment, conditions, and covenants of said promissory note anci this deed, or either, are not duly performed, complied w~ith ancl abided by, the aggregate sum mentioned in said promisson~ note and a~~ other amount or amounts added to the mortgage indebtedness under the tc~rms of this morigage shall become due and pa~~~ble Eorthwith or thereafter at the option of the Association, as fullv and completelp as if said ags;regatr - sum of monev ~vas originally stipulated to be paid on such dav, an~~thing in said promissorv~ note or herein to the contrarv not- ! «•ithstanding. + 7. To deli~~er to thc Associatiun, on or before ~(arch l~th, of cach ~•ear, tax receipts eviclencing the payment uf all IaH•- _ (iilly imposed taxes for the premcling c.~lendar vear; to deliver to the Association receipts evidencing the payment of all liens ~ for public improvements ~atithin ninety (90) days after the same shall i~ecomc doe and pa~•able, and to pay or discharge within ninety (90) da~~s after due date, any and all guvemmental levies that may be made on the mortaa~ed propertv, on this mortga~e = nr note, or in any other way resultin~ fmm the mvrti;age indebtedness securecl b~• this mort~a~t~. - ba~cl~~ r,4c~~' ~