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Home My WebLink About1425 1 ~ at all times ~ce~ably and quietly to enter upon, hold, cxrupy and cnjo~~ ~td l:~nd; that said land is frc~ from ull encumbrances; , that they will make such futthex assurances M perfed the fee simple title to said land in the Association as mav reasonably bc r requirecl; and that they do hereby fully warrxnt thc tide to said land and ~~~ill defend the same ag:unst thc la~~•ful claims oE ~ all persons ~chumsce~•er. PROVIDED AL\VA~'S thut if the ~lortgagurs sh~ll well and iruly pay unto the ~ssociation, thr indeUteciness cvidenced ~ b~~ that certain promissory note, of e~•en date herewith, made by the \tortgagors and pa~~uble to the A~ux•iatioo, in the princi~xil ; .um oE NINE TIiQUSAND. FNE HUNDRED AND NO/1QOths-----------!)oll:~rs (3 9, 500. 00 i .~hich note, together ~~~th interest thereon as thrrein specified, is ~x?~able in munthh~ installments of EIGHTY AND ~ 95/100ths-------------------------------------------------------------------- ; ? . ; _ Dollars (S 80.95 ~ _ i ~ on the 2oth . a;~y of each month c~mmrncing «~th JaI111aTy2Q. __1~72. _ ..hieh payments ~ :ire to be:?pplied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, oomply ~ mortgage, And, bnycluding any dvances madelby theaAssociation to the ~tortgagors, or th i uccessors n htle for any purpase, i at anv time before the mlease and cancellation of this mortgage, but at no time shail this mortgage secure advances on account ~ . ~ ~f s:iid ofi~e^~! ~~te together ~vith such additional advances ii~ a sum in excess of.1~IINE_ TI~QII~AN~?__FLY~__ _ ~ . ~ HUNDI3ED.A DTD_ NQ /l IIQ.ths- - - - - - - - - - Dollars ( S 9, ~OU. -00 ph~s an,y advances neccssary t~~ protect the security and costs, then this deecl and the estate herebv createcl shall cease and be null and void. ~ AND THE 110RTGAGORS DO hereby euvenant and agree: , 1_ To pay all and singular the pru~cipal and interest and other sums of money pa}•able by ~1rtue of said pnxnissory note ~ .~nd this mortgage, or either, prompth• on the day~s respectively the same severaUy come due. 2. 1'o pay all and Singular the taxes, assessments, levies, liabilities, obligations and incumbrances of everv nature and ldnd now on said described property, or that hereafter may be imposecl, suffered, placed, levied, or aseessed thereon, or that hereafter ma~~ be le~•ieci or assessed upon this ~tortgage, or the ir.debtedness securecl hereby, cach and e~•ery, when due and payable, .~cronling to la~~•, be(ore they become delinquent, and before any interest attaches or am• penalty is incurred; and insofar as .+m~ thereof is of record the same shall be prompth~ s:itisEied and discharged of record and the original official document (such ~s, for instance, the tax receipt or the wtisfaction paper officialh• endorsecl or certified) shall be placed in the hands of said i Ass~ciation as ~tortgagee ~~zthin ten da~~s next after pa~-ment; and in the e~~ent that any thereof is not paid; satisfied and discharged, ; said Association may at anv time pa~~ the same or an~• part thereof ~~~thout ~~•aiving or affecting any option, lien, equih• or right ; tu~der or br ~~rtue of this \iortgage, and the iull amuunt of each and everv such payment shall be immecliatelv due andpa yablc and shail bear interest irom the date thereof until paid at the rate stated in the note secured hereb~• and to~ether with such inter- i ~st shall be securecl by the lien of thu Liortgage. i 3. "To keep che buildings and all equipment and personal property now or hereafcer on said pmmises covered by this mortgage. i~uured in a sum equal to at least the amount of tt~e mortgage, or an amount sufficient to comply with any co-insunnce require- ment covering the same under the laws o[ the State o[ Florida, to~•ering loss trom both [ire and storm, making the loss undet said policies, each and e~~ery, payable to the Association. as mortgagee, as its interest ma7 appear, and said insutance shall be in a good and responsible insurance company satis[actory to said .~lssociation, and written by a responsible local agent satis[actory to said Asso- ` ciation: and the policy or policies shall bear a standard mongage clause without contribution, and, if the original principal amount of the mongage is Fift~ Thousand and no/10(1 Dollan (550.000-00) or in excess thereoE, shall be held by the Association, and, in the e~~ent any sum of money becomes payable under such policy or policies, the Association shall have the option to recei~•e and apply ehe same on accow~t of the indebtedness hereb} secured, or to permit the mongagois to receive and use it, or any part thereof, for other purposes. without thereby wai~~inp or impairing any equit}•, lien, or right under and by virtue of this mortgage, and may 3 place and pay for such insurance, or any part thereot, without wai~ iny, or affecting its option to foredose, or any right hereunder, and ehe tull amount o[ eact~ and every such payment shall be immediately due and payable and shali bear interest from the date ~ thereo[ until paid at the rate stated in the note secuted hemby and [ogether with such intetest shall be secured by the lien of this ~ ~forcgage. ~ i ~f. 1'o permit, cemmit, or suffer no waste, impairment or deterioration of s:iid propert~•, or :tny part thereof, and upon ~ ~ the failurc oF the mvrt~agors to keep the buildin~s on said property in good condition of repa"u, the Association may demand the = immediate repair of ~aid bu;ldings or the immediate repa~~ment of the debt hereb~• sec:ured, ancl the failure of the mortgagors ~ to comph• ~~~ith said demand of the rlssociation for a pericxl of Thirty {30) days, shall constitute a breach of this mortgage, ` and, at thc option of ihe Association, immecliatelv mature the entire amount of principal and interest herebv secured, and the ~ .~ssociation, immediately and K•ithout notice, mav institute proceeclin~s tn foreclose this mort~a~e and appl~~ for the appointment ' of a Recei~~er, as hereinafter pmvide~. ~ i. This mortgage contract provides for additionul advanc~c~s ~~~hich may be made at the option of the association and ~ ~ecured 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 unpaid balance of the note hereby secured by the amount of sach advance and shall be a part of said - note indebtedness under all the terms of said note and this contract as fully as if a new such note and contract ~~ere executed and deli~•ered. An :?dditional advance agreement ma~~ be gi~~en and accepted for such advance and provision ma~• Ue made for ~ ciifferent monthl~• pa~-ments anci a different interest rate and other express modifications of the contrac:, but in all~other respecGs ~ - ?his contrlct shall remain in full force and effeM as to said indebteclness, incluciing all advances. B. If anv of the sums of money herein referred to be not promptly and fullv paid w~ithin Thirty (30) days next after ' the same severallv rnme clue and payable, or if each and every the stipulations, agrcement, conditions, and covenants of said promissory note and this deed, or either, are not duly performecl, complied w•ith and abided by, the aggregate sum mentioned in said promissory iiote and anv other amuunt or amouiits 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 Association, as fully and completely as if said ag~.;regatc - sum of monev ~vas originally stipulated to be paid on such dav, anything in said promissorv note or herein to the contrarv not- a~thstanding. To deli~•er to th~ Association, on or before ~iarch lith, of each ceur, tax receipts evidencing the payment vf all lau•- - fully imExnecl taxes for the prececlin~ ealendur ~~ear, to deliver to the Association reeeipts evideneing the payTnent of all liens { - for public improvements w•ithin ninety (90) days after the same shall hecome due and payable, and to pay or discharge within j ninety (90) da~~s after due date, any and all governmental levies that may be made on the mortgaQed property, on this mortgage ~ : nr note, or in any other way resulting from the mortgage indebteclnrss cecured bv this mortRaee. ~ - OR ~ _ ~ 1~8 ~~4Z3 ~ ;