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at all times peaceably awd quietiy to eater upon, hold, occu y and cnjoy saxl L?nd; that said land 'u free from all encumbrances;
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chat they will make such feutba assurar?oa to patfect tLe fee dmple titla to said land in the Association as may reasonably be '
required; and that they do hereby fully warrant the titb Eo stid land and will defend the sume against the laN~ful claims of
a il persons K~haa?soever. ;
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PROVIDED ALiVAYS tbat if the 111ortgagors shall well and truly pav unto the Associration, the indebtedness e~~denced ~
by that certain pvmisso~y note, of evtn date herewitb, made bv the Mortgagors and payable to the Assaciation, i~ the principal
:~un oE _ S.I~~.~~~Y.~~~Lj$AND_AND_ NO.~l00ths--------•-~-.•-••-•~--- Dollars (a 16s 000. 00
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.?~hich rwte, together with interest thereon as therein specified, is payable in monthiv installments of ONE ~iUNDRED (
THIRTY-THREE AND 84/100ths~•---------•-------------------~-•---•-•-•~-----•• `
_ - - - . _ _ Doltars (s 133. 84 . -
- _ ~
on the ---l~tll.- day of each tnaath commencing with . __~~~.~A~g_~~-~~--~71------ ----w'hich payments
:ire to be applied, first m interest, and the balance to principai, untit said indebtednest is paid ia full, and shall perform, oo~ply
~zth and abide by each and every the stipulations, agreements, conditions and rnvenants of said }momiaory note and this
mortgage, Md, indud'mg any advat~ces made by the Association to the ~iortgegois, or tbeir sua.~essors in tidr, for any purpo6e,
at anv timc before the mlease and cancellation of this mortgage, but at no time shall this mortgage secure advances on aecount
of said original note together with such additional advances in a sum in ~c~ oE_SI~~'_E~N.~~IOUSAND_AND
NQ~_1_QQthS~_--__---.~•-••~_-~-~~~~~_-~~-~~~~~~-~ Dollars (s16, 000~-00.-----), plus any advances neressarv
to protect the security and costs. then this deed and the estate hereby created shaU cease and be null and void. ~
Al\D THE AiORTGAGORS DO hereby cvvenant and agree:
1. To pay all and singular the princi~ and interest az,d oc~~ s~,n,s of ~o~,~y pdyabk by virtue of said pro~issory note
,~nd this mortgage, or either, promptly on days respectively the same severally oome due.
2. To pay all and smgular the taues, assasments, Ievies, liabilities, obligations and incumbrances of every nature and ]dnd ;
now on said described paoperiy, or that hereafter may be im~, suffered, placed, Itwied, or assessed thereou, or that bereafter {
may be levie,d or assessed upon tbis I~iortgage, or the inde edness secured hereby, cach and every, when duc and payable, ~ ~
:~ccording to 1aw, before they become delinquent, and before any i~terest attaches or anv penalty is incurred; and insafar .u
any thereof is of record the same sliall be promptly satisfied and discharged of record anci the original official document (such
~s, for instance, the taz reoei~ or the satisfaction gaper oHicially endorsed or certified) shall be placed in the hands of said
' Assaciation as ~fortgagee within ten days next after payment; and in the event that any thereof is not paid, satisfied and discharged,
! said Association may at any time pay the same or any part thereof without waiving or affecting any op'.ion~ lien, equity or rig1?t
~ under or by virtue of this \iortgage, and the full amount of each and every such payment shall be immediately due andpe yable
•.y^?~~ ^a+.~ +1,.• *atp ct~teri in the note secured hereb~• and toQether with such inter-
Ailu Jlldll UC4~ W.i,Wi iiv:ii uic. :w:a. a.~:.ws ~ - r,~,--
; ~st shali be secured by the lien of this Mortgage.
` 3. To keep the buildings and all equipment and personal property now or hereaEter on said premisa covered by this mottgage,
insured in a sum equal to at Ieut the amount of the mortgage, or an amount sufticitnt to complq with any co-insurance require- ~
ment eovering the same un~kr the laws of the Sute oE Fbrida. oovering loss [rom both fire and storm, making the loa under szid ~
polities, each and every, parabk to thc Associaeion, as mortgagee, aa iu intemt ~may ~ppeu, and uid insunnce shiU be in a good
and resporisible insunnee coimpany satisfactory to said Association, and written by a respontible local agent tatistactory to uid Asw-
ciacion: and the policy or policies shall bear a standard mortg~ge clause without mntribution, and, if t6e original prinapal amount
of the mongage is Fitty Thousand and no/j00 Doltars (;50,000.00) or in excua thereof. shal! be heid by the As~o~ciation, and, in
the event anr sum of montr txcomes parable under such policy or policies, the Association shall have the option to receive and apply
the same on accoune of t6e indebtedness herebY secured, or to permit ehe mongagois to receive and use it, or any part thereoE. for
other purposes, wi[hout thereby waiving or unpairin~ any equity, lien, or right under and b~r virtue of thu mortgage, and may
place and pay [or such insunnce, or any pan thereof, without waiving or a[tecting ia option to foreclose, ot any tight hrreunder,
and the full amoune ot each and every such payment shall be innmediacdy due and payable and shall bear interett from the date
chereot until paid at ehe nte iueed in the noce secured hereby and togeeher with such incerat shall b~ secured br the litn oE thi:
l~f orcgage.
~f. To permit, commit, or suffer no waste, impairment or deterioration of said propert~~, or any part 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 bu;ldings or the immediate ~payment of the debt hereby secured, and the failur~e of the mortgagors i
to oomply with said demand of the Association for a period of Thirty (30) days, shall constitute a breach of thia mortgage, ~
~ and, at the option of the Association, immediately mature the entire amount of principal and interest hereby secured, and the 1
Association, ~immediately and without notice, may institute proceedin;s to foreciose this mortgage and apph• for the appointajent ;
of a Receiver, as hereinaker provideci.
5. This mortgage contraM provides for additional advances w•hich may be made at the option oE the association end
secured by this morty,age, and it is agreed that in Lhe eve~t of such advances the amount may be added to the mortgage debt
and shall increase the unpaid ba]anoe of the note hereby secured by the amount of such advance and shall be a part of said s
note indebtedness under all the terms of said note and this conUact as fully as iE a new such note and contract w~ere executeci
and delivered. An additional advancc agreement may be given and accepted for such advance and provision ma}' be made for '
clifferent monthlv pa~•ments ~nd a different interest tate and other exp~ess modifications of the contract, but in all other respects
~his contrad shall remain in full foroe and effect as to said indebtedness, includ'u~g all advances.
8. If any of the sums of money herein referred to be not promptly and fully paid within TWrty (30) days next after
tt~e same severally come due and payable, or if each and every the stipulations, agreement, rnnditions, and rnvenants of said
promissory note and this deed, or either, are nd duly performed, complied with and abided by, the aggtcgate sum mentioned
in said promissory note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage
shall become due and pa~-sbk forthwith ar thcreafter at the option of the Associatien, as fully and completely as if said aggregate '
sum of money was originally stipulated to be paid on such day, anvthing in said promissory nate or herein to the contrary not- `
withstanding. ' :
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i. To deliver to the Association, on or before Aiarch lSth, of each year, ta: receipts eviden~ing the payment of all law~-
feily im~ taxes for the precc~cling ratendar year; to detiver to the Association receipts evidencing the payment of aQ liens
for pub ' improvements wichin ninety (gp) days aket the same shap hecome due and payable, and to pay or discharge within
ninety (90) davs after due date, any and all govemmental levies that may be made on the mortgaged property, on this mortgage
or note, or in any other way msultinR from the mortgage indebtedness secured bv this mortgage.
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