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Home My WebLink About1927 .Zt all times ~Cacrabl}~ and quieily to enter uiwn, hold, ocru~»~ and e~~ju~• saiJ laud; that saiil laud is frc~• frum ali eneuriibranr~s, th.,t they w~ill make such further assurances to perfect the fea simplc title to said la~d in the Asx,ciation as ma~~ reaso~i:~bly tx• re~c~uired; and that they do hereby fully v~arrant the tide to said la~~d :u~d ~~•ill defcnd thc same a~;ainst tl~e L~~~ful C'I:iift75 oF .,ll prru~ns ~~•humsoever. PRO\'IDEU AL«:~TS th:?t if tlic \lu~i~agurs shall ~~•eil a~id tndy p:+~• tu~to tl~e As,~x•i:+tion, thc~ i~icle~bte~ciru~as e•vidr~icec~ h~• that certain promissorv note, of e~•en date herew•ith, made b~• the ~fortga~ors and p;?.~:ihle to the A.~x•iation, in th~ rrinci~xil <um of THIRTY-SIX THOUS.AND FIVF HUNI~RED AND NO/ 100ths Ih~ll:~rs ~S 36, 5Q0, 00 ~~hich note, tu~ether ~~ith interest thermn as therein six~cified, is ~~:i~•:~ble in munthk install~nents ~?fTWQ HUNDRED SIXTX-SEVEN ANA 74/100ths--------------------------------------------------- - _ ~~Il:zn (s 267. 74 ~~n the 26th da~• of each month r.~mmencing ~~~th December26,..1~?.1___ _ ~rh;ch pa~•ments .~re to bc :ipplied, first to interest, and the balance to principai, ~intil said indebtedness is paid in full, and shaii perform, comply ith and abide by each and e~•er~ the stipuiations, agreements, conditions and co~•enants of ~?a rrom~„• note and tliic mortfiage, And, including anv ad~•ances made b• the Association to the ~fortgzgors, or their successorx in tidr, ~for anv purpose, .:t ani• time before the mlease and cancellation ~of this mortgage, but at no time shail this mortg.~ge secure ad~•anees on acchunt ~~f ~,,id ori~inal note t~~ether ..~ith si~ch additionat advances in a sum in e~eess oTHIRT.Y-SIX THO_IISAN~ EIYE _ HUNDRED AN~ NO/100Lhs--------------.----~?ollars (S 36, SQQ. OQ plus anv advances necessan- t~~ prutect the secnritv and costs, then this deed and the estate hcmb~• createct shalt cease and be null and ~•oid. A\D THE ~10RTGAGORS DO herebt• cu~~enant and agree: l. To pay all and singular the principal and interest and ot}?er swns oE mone~~ pa~-able b~• ~~rtue of saicl promissorv nutc ;:,~1 this mortgage, or cither, prvmptly on the da~~s rapectivelv the same s~verally come due. ~ 2. To pa~• all and singular the taaes, assessments, le~~es, liabilities, obligations and inciunbrances of e~~er~• nature and kind ~~uu• on said drscribed pmperh•, or that hereafter mav be imposecl, sufferect, placed, Ievieci, or accessed thereon,~or that hereaker rna~~ be le~-iecl or a~seseed upon this ifortgage, or the indebtedness securecl herPb~•, each and everv, ~~•hen due and payable, ..ccor<ling to lau•, Uefore they become delirn~uent, ancl before an~~ interest attaches or am• penalty ~is incurred; and 'uuofar :?s .~n~• thereof is of rea~rd the same shall be promptl~~ s:itisfied and dischsrgecl oE r:cord and the original official document (surh ,c, for i?L~tance, the t:ix receipt or the wtisfaction paper officialh~ endorseci or certified) ~ha11 bc~ placrd in the hands of said Association :ts ilort~a~ee ~ithin ten clavs next aEter pa~-ment; and in the e~•ent that anv therrnf is not gaid, satisfieci and dischargecl, :.~id Association ma~• at an~• time ~a~• tiie same or an~• part thereof ~~ithout w•ai~zng~or afferting am~ uption, lien, ec~uih~ or right ; ~inder or b~- ~7rtue of this \tortga~e, and the [ull amuiint of c~ach and everv such pa~-ment shall be immecliatch• due andpa ~~able d : .ind shall bear interest from the date thereoE until paid at the r.ite statecl in the note secured herebr a~zd to~eth~r ~~•ith s~~ch iuter- ; ~~st sliali he secured ba• the liert of this ~lortgnge, ~ ~ 3. To keep the buitdinp,s and all equipment and personal property noH• or herea[ter on said premises co?•ered by this mortgag,e, ; insured iu a sum equal to at least ehe amount of the mongage, or an amount su([icient to comply Nith any co-insurance require- mrnt co~•ering the same under the laws ot the Scate of Florida, co~•erinR loss (rom both tire and storm, making the loss under said ' policies, each and e~~en•. pa}able to the ~ssociation, as mortgagee, ac its interest tnay appear, and said insurance shall be in a g~ood ` and responsible insurance compa~~v satisfactor~~ [o said Association. at~d w~ritten by a responsible ]ocal agent satisfactory to said f'1sso-~ ~ ciation: and the polic~• or policies shall bear a sta~~dard mortgage clause without contribution, and, i[ the oriqinal principal atnount ~ of chr mortgaqe is Fi(t~ Thousand and no; IOb Dollan (550.000.00) or in excess chereof, shall be held by the Association, and, in thr evrnt an~~ sum of money become~s payable under such policy or poticies, the Association shali ha~•e tt~e option to recei~•e and apply che same on account of the indebtedness hereb~~ serured. or to permit the mongagors to receive and use it, or any pan thereof, for ocher purposes. Nithout chereU~~ MaivinK or impairiug anv equit~, lien. or right under and by ~~irtue ot this mortgage, and may place and pa~ [or suth insurance, or an~ patt thereof. Nithout wai~ink or at[ecting its option to tomclose, or any right hemunder, :,nd the full amount of each and e~en~ such pa~~ment shall be immediately due and payable and shall bear enterest !rom the date thereoi until paed at the rate swted in the note secured hemb~~ and together Mith such interest shall be secured by the lien of this ~ ~fortgage. To ~ermit, cr.mmit, or suffer no ~caste, im~~airment or deterioration of said prupert~~, or am~ part thereof, and upon tl~e fnilure of thc murtgs~ors to keep the buildings on said Fropert~• in good c~nditiun of repair, the .~ssociation mav demand the ~ ~mmediatc rc~j~ir of s;iid bu;ldin~s or the immediate mpa~-ment of the ciebt herel>y secure~i, amI the failure of the mortgagors ~ comph• ~cith said c~emand of the Assc~ci.~tion for a peric~ci of Thirt~• {30i d:iss, shali rnnstitute breach of this mort~a€e, and, at ih~ option of the Assrx•iation, immediatPh~ mature the entire ameuni of principal and interest hereb~• secured, and the ~sscx~iation, immec~iatel~• and ~~•ithout notice, mav institute procee<IinR~ t:~ h~reclose this mort~a~e and appk for the appointment ~~f a Recei~•er, as hereinafter proride~l_ 3. This mort~age contract pro~•ides for additiuu.?1 ad~•ances ~~~hich ma~• be made at the uptiun nf the association and ~ecumd bv this mort~age, and it is agreed that in the event of sueh aci~•anees the a:nount may be addecl to the morigage debt ,+nd shall increase the unpaid balance of the note hereb~~ secured bv the amount of such advance and sha11 be a part of said ri~te indebtedness under all the terms of said note and this contract ~s fullti• as if a new• such notc and contract .~ere executed ~nd ~eli~•ered. An additional ad~•ance a~reement ma~• be gi~•en and act~eptec3 for such ad~•ance ancl prrn~ision ma~• be made for rlifferent monthh• pa~~menis ; nd a different interesi rate and ot}~er e~press modifications of the contrac,, but in all~other respc-cts chis contnM shxll remain iri fi~l1 force and effect :~s to said indebteclness, ineludin~ a]) advances. 6. If am• ~f the sums of muney herein referred to be not promptl~• and fulh• paid uithin ?hirh• f3(?; days next after the same seti•erelh• rnme due and pa~-able, or if each and evem the stipulatians, a~rcrment, ronditions, and covenants of s:iid ~romiscor~~ note and this deed, or either, are not duly performed, cc,mplied w•ith and abided by, the aggregate sum mentioned in said promisson~ nute and am other amount or amounts addecl to the mortgage indebtedness under the terms of this mortgage shall become duc and pa~-~ble forthts-ith or thereafter at the option of the Association, as ful)v and completely as if said a~~regatc- sum of moneti• ~.•as originallv stipulated to be paid on such da~•, amKhin~ in said promissorv note or herein t~ the contrarv n~t- ~+-ithstanding. ~ - • To deli~er to the Ascociatiun, on or before \t~rch lith, of each ~e3r, tax receipts eviden~ing the payTnent of all la~+- ftilh• imposecl taxes for the ~rcredin~ r.ilrndar ~•ear, to deli~•er to the Association receipts e~•idencing the pa~Tnent of all liens for ~public impro~~ements ~~ithin ninety (901 days after the same shall hecome due and pavabie, and to pay or d'ucharge ~vithin ninety (90) da~s after due date, ~an~• and al! go~•emmental leti•ies that ma~~ be made on ihe mort~a~ecl propert}•, on this mortga~c~ ~~r note, or in am~ ~ither w-a~• resultin~ fr~m the murtgage indebtednes~ sec•urcd M~ this mort~3~r. eo~K ~g7 ~~~~~5 - .