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~t all times peac~bl~• and quiedy to enter upon, hold, occupy and cnjoy said land; that said lai~d is free from aA encumbrances;
that they N~iU make such furthcr assurat~oes eo pecfect tbe fee dmple title to said land in the Associateon as may reasonably be
required; and that they do heceby fully w~rrant the title M said land and wi11 defend the same ngainst the la..•ful clainu of
::ll perso+u ~~~homsoever,
PRO~'1DED ALWATS that if the l~fortgagors shall weA and truly pay unto the Association, the indebteciness evidenced
b~~ that certain promissory note, of e~~en date herewith, ma?de bv the ~lortgagors and pa~~uble to the Assoriati~n, in the Principal
,t~m of TWENTY-TWO THOUSAND_AND NO/100ths-----------------~p_~~ ~s 22~ 000. 00
«~hich note, together ~+~th '_nterest thereon as therein specified, is p:ryable in manthly instaliments ot interest due
February 20..19.?2, March 2Q, 1972, April 20, 1972 and th~n ONE HUNDRED SIXTY-
SIX A1~ID_18/100ths----------------------.-------_-------------_-------------------.
- _ _ Do113rs (S 166. 18 .
on the 20Lh day of each month c~mmencing ~vith . -M~y-,~0~---~9?2-------------- _whKh payments
.~re to be applied, first to interest, and the balau?ce to principal, until said indcbtedness is paid in fu11, and shall perform, oomp1y
«•ith and abide by each aad every the stipulations, agreements, conditions and covena~ts of said promissory note and this i
mortgage, And, including any advances made by the Association to the Mortgagors, or the'u successors in tidr, for any purpcue, ~
at any time before the release and cancellation of this mortgage, but at no time shall this mortgage secure advances on acrount
of s:iid ori~inal note together with such additional advances in a sum in eaeess of.~~lE11TTY-.T.~(Q..THQIISA11TI2._... ~
A_N~_.NQLiOOth~--_-,-----_-----,--_--_--,-_--_-_----'DoUars (S 22,000. 00 --1, plus any advances neressan•
t~~ protect the security and casts, then this deed and the estate herebv createcl shall cease and be nuil and void. ~
AI~?D THE ~tORTGAGORS DO hereby c~venani and agree:
1. To pay all and singular the principal and interest and other sums of money ~ra~~abie by ~~rtue of said promissory nute
.~rnl this mortgage, or either. promptly on the days respectively the same severally come due.
2. To pay all and suigular i1?e taxes, assessments, levies, liabilities, obligations and incumbrances of even~ nature and kind
no«• on said described pmperty, or that hereaher inay be imposed, suffered, p]aced, levied, or assessed thereon, or that hereafter
~ ,na~• be ]evied or assessed upon this ~tortgage, or the indebtedness secured hereby, cach and every, when due and payable,
.~cco:ding to law, before they become delinquent, and before any intetest attaches or anv penaity is incarmd; and incofar as
.~n~- thereof is of record the same shall be promptly satisfied and discharged of record and the original official document (such
is, for instance, the tax receipt or the satisfaction paper officially endo~sed or certified) shall be placed in the hands of said
Association as \tortgagee within ten davs next after pa}Tnent; and in the event that any thereof is not paid, satisfieci ancl discharged,
; ~aid Association may at any time pay the same or any part thereof ~~~thout waiving or af[ecting any option, lien, equitv or right
~ t~nder or bv ~utue of this \tortgage, and the full amount of each and es~ery such }~ayment shall be immediately due andpa
yable
r and sha11 bear inter~ct Erom the date iheseof until paid at the rate stated in the note secureci hereb~• and together with such inter- °
s e~st shall be secured bv the lien of ihis Mortgage. "
i
E 3. To keep the buildings and all equipment a~~d penonal property now or hereafter on uid prcmisa covered by this mortgage,
~ insured in a sum equal to at leut the amount of the mongage, or an amount sufiicient to rnmply with any co-insunnce require-
4 ment co~ering the same under che laws of the Stace ot Florida, covering loss fmm both fire and seorm, making the loss ander uid
E~olicies. each a~id every, payable to the Association, as roortgagee, as its interest may appear, and uid insunnce shall be i~~ a good
and responsible insurance company saeisfaaory to said Association, and writeen by a responsible local agent satisfaccory eo said Asso-
ciation: and the polic~ or policia shal! bear a standard mortgage ciause without contribution, and, i[ the original principal amount
of the mortgage u Fi(ty Thousand and no; !00 Doltan (s50,000.00) or in excess ehereof, shall be hdd by the Association, and, in
the e~~ent any sum o[ money betomes payable u~~der such policy or policies, ehe Association shall have the option to rrcei~~e and apply
the same on account ot the indebtedness hereby secured, or to permit the mortgagors to receive and ux it, or any part thereof, for
other purposes, without thereby waiving or impairing any equitr, lien, or right under and by ~irtut o[ this mortgage, and mar
; place and pay (or wch insurance, or any part thereof, without wairing or affecting its option to forec)ost, or any right hereunder,
~ and the fu11 amount of each and every such payment shall be immediately due and payable and shall bear interest trom the date
ehereof uncil paid at the rate sta[ed in the note secured hrreby and together with such interest shall be secured br the lien oE thia
~fortgage.
` 4. To permit, commit, or suffer no waste, impairment or deterioration of said propert~•, or :my part thereof, and upon
tt~e failure of the mortgagors to keep the buildings on said prupert~• fn good condition oE repair, the Association may demand the
~:nmediate repair of s:xid bu:ldings or the immediate repa}~ment of the debt hereby securec], and the failure of the mortgagors
~ tr, comph• with said demand of the ~lssocu~tion for a period of Thirty {3p) d,ivs, shall constitute a breach of this mortgage,
' and, at the option of the Association, immediateh~ mature the entire amount of principal and interest herebv secared, and the
j .~ssociation, immediately and w•ithout notice, may insticute procc~linos to forPClose this mortgage and applv for the appointment
~f a Receiver, as hereinaker provided.
This mortgage contract provides for additiunal advances K•hic~ may be made at the option of the association and
seceued by this mvrtgage, and it is agrsed that in ihe event of such advances the amount may be addeci to the mortgage debt
and shall increase the unpaid balance of the note herebv secured by the amount of such advance and shall be a part of said
note indebtedness under all the terms of said note and thu contract as fully as if a new such note and contract ~~~ere executeci
.md deii~~ered. An additional advance agreement ma~• be given and accepted for such advance and provision mav be made for
~lifferent monthlv pa~•ments and a different interest rate and other express modifications of the contract, but in all~other respects
ihis contract shall remain in full force and eFEect as to said indebteciness, including all advances.
6. If any of the s~uns of muney herein referred to be not promptly and fully paid azthin Th'uty (30) days next after
the same severally come clue and payable, or if each and every the stipulations, agrcement, conditions, and covenants of saicl
p~omissory note and this deed, or either, are not duty performed, complied with and abided by, the aggr~egate sum mentioned
in said promissory note and anv other amount or amounts added to the morigage indebtedness under the terms of this mortgage -
shall become due and pavable forthwith or thereafter at the option of the Association, as fully and completely as if said aggregat~
sum o` money ~~as originally stipulated to be paid on such dav, an~~thing in said promissory note or herein to the contrarv not-
«~thstanding. " -
7. To delivPr to the Association, on or before ~tarch l~th, of each year, tax receipts evidencing the payment of ati la~+•- ~
fulty imp~s~ tanes for the prece~ling ralendar vear; to deliver to the Association re+ceipts evider~cing the payment of all liens ~
fnr public improvements within ninety (90) days after the same shall hecome due and payable, and to pay or discharge within
ninetv (9p) days after due date, any and al) governmental levies that may be made on the mortgaQed property, on this mortgagP
nr note, or in any other way msulting fmm the mortgage indebtedness secured by this mort~aqe.
, B~RM~99 F,~~~ 47Z
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