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Home My WebLink About1542 at aU times pcacP:+bly and quiedy to enter upon, iwld, cx,rupy and cnjoy said Ixnd; that said land is Iree from al! encumbrances; that they will make such further assurances to perfect the fea dmpie tide to sa~d land in the Assuciatiun :is mavi ce,uonably bc required; and that they do hereby fiil}y warrant the title to said l~nd xnd ~viU defend the same against the lawful claims of all petsons ~s~homsoever, PROYIDEll AL11'ATS that if the \lurtgagurs shrll ~vell and truly pay unto the Association, thr indebteclnt•ss r~tide~~ced by that certain promissory note, of even date herewith, made bv the ~tortgagors und pa~~able to the As.amiation, in the princiral s~im oE FOURTEEN THOUSAND FIVE HUNDRED AND NO/100ths--- po~~,~~ ~s 14, 500, 00 .~~hich note, together H~th interest thereon :u thercin specifiecl, is E~:i~•able in monthly installments of ONE HUNDRED TWENTY-~IVE AND NO/100ths----------------------------------------------- ; _ ~ . ~ _ ; _ - n~ll:~r~ ~s 125.00 - - on the 20th ~iay of each month c~mmencing ~~~th _ Jatluar~!__20,_1972_ - which payments :ue t~ be :ipptied, first to interest, and the balan~r ro prinripal, until said indebtedness is paid in full, and shall perform, comply s .+~th and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and this - mortgage, And, induding any advances made by the Association to the tiiortgagon, or the'v successors in titlr, for any purpose, at anv time before the mlease and rancellarion of this murtgage, but at no time shal! this mortgage secure advaaces on account oE said original note together ~vith such additional advances in a sum in excess of.._._ FOURTEEN THOUSAND FIVE HUNDRED AND NO / 100ths - - - - - - - - - - ~~~a~ ~ ~ 14, 500. 00 ~ ~ P~~ ~y advances necessan~ - - - - - - to protect the secwity and costs, ihen this deed and the estate hernby createci shall cease and be null and void. ~ ~ A11~D THE ~lOR1~GAGORS DO hereby ttivenant and agree: 1. To pay all and singular the principal and interest and other sums of money pavable by virtue of said promissory note and this mortgage, or either, pmmpdy on the days respectively the same severally come due. 2. To pay a11 and singular the taaes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind now on said described property, or that hereafter may be im~s~1 suffered, placed, levied, or assesseci thereon, or that hereafter ma~~ be levied or assessed upon this ~tortgage, or the indebtedness secured hereby, each and every, when due and payabte, according to law, before they become delinquent, and before any interest attaches or any penalty is incurred; and insofar :u any thereoE is of record the same s~~al) be promptly s:~tisfied and discharged of rec.ord and the original official document (such ss, for in~tance, the tau receipt or the satisfaction paper officially endoned or certified) shall be placed in the hands of said Association as ~iortKagee «~thin ten days next after pa~~nent; and in the event that any thereof is not paid, satisfied and discharged, said Assockltion may at any time pay~ the same or any part thereof ~vithout waiving or affecting any option, lien, equih~ or right ~ under or by virtue of this iiortgage, and ihe fuII amount of each and every such payment shall be immediatelv due andpa yable ; ~ and shall bear interest from the date thereof until paid at the rate stated in the note secured hereb~- and together with such inter- ~ est shall be secured by the lien of this Mortgage. ~ ~ 3. 'To keep the buildings and ali equipment and petsonal property now or hereafter on uid premises rnvered br this mortgagr, ~ insuted in a sum equal to at least the atnount o[ the mortgage, or an amount su(ficient to rnmplr with any cn-insunnce require- ment corering che same under the laws of ehe State of Florida, rnvering loss from both fire and storm, making che loas under uid policies, each and every, payable to the ~lssociation, as mortgagee, as iu interest m~r appear, and said insurance shall be in a good and responsible insurance company satis[actory to said Association, and written by a responsible local agent satis[actory to said Asso- ciation; and the policr or policies shall bear a standard mortgage clause without contribution, and, if the oreginal principal amount of the mortgage is Fitty Thoeuand and noJ10(1 Dollars (s50,000.00) or in eaccess thereof. shzll be held by the Association, and, in the evene any sum of money becomes payable under such policy or policies, the Associaeion shall have the op[ion to receive and apply the same on account of the indebtedness hereby secured, or to permit the mongagors to receive and use it, or anr part thereoi, for othet purposes, without thereby wai~•ing or impairing any equity, lien, or right under and by virtue of this rmng; ee, and may plate and pay for such ir~surance, or any part thereot, without wai~•ing or a[fecting its option to [oredaae, or any right hereunder. and the full amount o[ each and e~•ery such payment shall be immediately due and payable and shall bear interat fmm the date thereot until paid at the rate stated in the noce secured hemby and together with such interest shall be secured by the lien ef this ~~f ortgage. ; ~1. To permit, commit, or suEfer no waste, impairment or deterioration of ~id prupert~•, or any Part ihereof, and upon the faiiuro of thc mortgagors to keep the buildings on said property in good condition of repair, the .~ssociation may demand the # immediate re~ir of said bu:ldings or the immediate rePayment of the debt hereb~• secured, ancl the failum of the mortgagors i to comply with said demand of the Assocultion for a period of Thirty (30) dai~•s, shall constitute a breach of this mortgage, and, at the option of the Association, immediateh• mature the entire amount of principal and interest herebv secured, and the Association, immediately and witho~t notiee, mav institute proceeclin~s to foreclo.se this mortga~e and app)v ~or the appointment nf a Recei~~er, :?s hereinafter provided. 5. This mortgage contract provides for additiona) advances w~hich may be made at the option of the association and secured by this mortgage, and it is agreed that in the event of such advances the amount may be added to the morigage debt ~ and shall increase the unpaid balance of the note hereby secured by the amount of such advance and shal[ be a part of said ~ note indebtedness under alI the terms of said note and this contract as fully as if a new such note and contract ~+~ere executec3 :+nd delivered. An additional advance agreement ma~• be given and accepted for such advance and ptovision may be made for clifferent monthlv payments .^.nd a different interest rate and other express modifications of the contraci, but in all other respects this contract shall remain in full force and effect as to said indebteciness, including all advances. 6. If any of the sums of muney herein referred to be not promptly and falh• paid within Thirty (30) days next after ~ the same severally cc2me due and payable, or if each and every the stipuiations, agreement, conditiuns, and covenants of said z promissory note and this cleed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned ~ in said pmmissory note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage shall become due and pa~•able forthwith or thcreafter at the option of the Association, as fu11y and campletely as if said aggregate sum of money was originally stipuiated to be paid on such dav, anything in said promissor`• note or hereir~ to the contrarv not- ; wit}utanding. ' ~ To deliver to the Association, on or before Jiarch 15th, af each year, tax receipts evidencing the paymeni of all 1au~- ~ fully im~se~ taaes for ihe precec]in~ ealendar year; to deliver to the Association receipts evidencing the payment of all liens ~ for pub il c improvements w~thin ninety (90) days after the same shall become due and payable, and to pay or discharge within ninety (90) days a(ter due date, any and all governmental levies that may be made on the mortgaqed pmperty, on this mortgafie ` ~r note, or in an~• other wa~~ resultin~; from the snnrtgage indebtedn~cc ~ecurc~i bv this mortgaee. ; ; ~ S~OK PAC£ $ F