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Home My WebLink About1394 :~t all times pr,~crably and quietly to enter upon, hold, occupy and ~nj~~y said land; that s:iid land is frea from all eneumbn~nces; ~ that they will make such futlher assuranees to perfect the fee slmple title to said land in the Association as mav reasonably tx• required; and that they do hereby fully warrant the title to said land and ~vill defend the same aguins! the 1a~+•fu1 clainu oE :~ll persoiu whomscevcr, PROVIDED AL~VAIS that if the 1lortgagurs shult welt and tn~ly p:+~~ unto t1?e ~?ssociatiun, the in~lebteclness e~~dt~~c~ • t~r that certuin promissory note, of even date herewith, made bv the \lortgagors and p;?y;?ble to the Asu~ciatian, in tl~e prinri~ial .»m oE TF..N THOUSAI~ID AND NO/1QOths-------------------------- Dott:~rs (310, 000. 04 ~~•hich note, together with interest thereon as therein specified, is p:n~able in monthly installments oE EIGHTY-TV~/O ~ ANA 1_0/100ths-=------- . _ _ _ _ DoUars (S 82. 10 - : on the 20th - day of each month commencing ~vith . F~bZ'u8ry__2n,.11~2__....._____..__ _which payments ; .~re to be:?pplied, first to interest, and the balance to principal, w~til said indebtedness is paid in full, and shall perform, oomply ' ~.•ith and abide by each and every the stipulatans, agreements, conditions and covenants of said promissory note and this ; mortgage, And, inciuding any advances made by the Association to the Mottgagon, or their successors in tidr, fo~ any purpose, ; at anv time before the release and cancellation of this mortgage, but at no time shall this morigage secure advances on account ' F nf s:iid original note together with such additional advances in a sum in excess oE.;_TEN_.THQU~ANI~__AND__ _ ~ NO~l00thS--------_-_-------------_-_-_-_-.----.---1~ollars 10._OQ.Q. OQ pius anv advances necessan~ - - ~ ~S ) tu protect the sec~?rity and costs, ihen this deed and the estate herebv created shal) eease and be null and void. ~ : AND THE rtORTCACORS DO hereby cvvenant and agree: 1. To pay all and singular the principal and interest and other sums of money payable by virtue of said prumissory notc .uul this mortgage, or either, prompdy on the day~s mspectively the same severnlly come due. 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind nuw on said dc~scribed property, or that hereafter may be imp~s~1 sufEered, placed, kvied, or assessed ihereon, or that hereafter ma~~ be le~ied or assesscd upon this ~tortgage, or ihe indebtedness securecl hereby, cach and e~•en, when due and pa~~ablc, ' .~ccordu~g to law, before they become delinquent, and before any inteTest attaches or anv penalty is incurred; and iiuofar as . ~ .in~~ thereoE is of record the same sl~ali be promptly wtisfied and disc~arged of record and the original official document (surh 1s, for uutance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Association as \Iortgagee svithin ten davs next after pai~nent; and in the event that any thereof is not paid, satisfieci and discharged, ~ i said Association m.~y at any time pay the same or any part thereof ~~~thout waiving or afEecting any option, lien, equitv or right : t ~~nder or virtue of this ~tortgage, and the full amount of each and every such payment shall be immediate)y due and payable - a and shall t~ear interest from the ciate thereof until paid at the rate statee~ in the note seeurecl hereb~• and to~ether with sueh inter- ~ f•st shall be secured by the lien of this blortgage. ~ ~ 3. T'o keep the buildings and all equipment and personal property now or hereafcer on said premixs rnvered by this uwrtgage, ~ insured in a sum e~ual to at least the amount ot the mortgage, or an amount su[(icient to comply with any co-insurance tequirc- _ ~ ment covering the same under the laws o( the State of Florida, covering loss from both fire and storm, making tht loss under said # E~olicies, each aud e~•ery, payable to the Association. as mortgagee, as iu interest may appear, and said insurance shall be in a good ~ - and responsible insutance company satislactory to said :~ssociation, and written by a responsiblt 1oca1 agent satisfactory to said Asso- E ciation; and the policy or policies shall bear a standard mortgage clause without contribution, and, if the original principal amount ~ ; o( the mongage is Fi[ty Thousand and no/!00 Dollars (j50.000.00) or in e~ccess thereof, shall be held by the Association. and, in ~ ehe e~•ent any sum o[ money becomes payabte under such policy or policies, the Association shall have the option to recei~e and apply ~ che same on account ot che indebtedness hereby secured, or to permit the mongagors to receive and ase it, or anr part thereof, for ` E other purposes, without thereby waiving ot impairing any equity, iien, or right under and by virtue ot this mortgage, and may 3 place and pay [or such i~uurance, or any part thereof, without waiving or affecting its option to toredose, or any right hereunder, and the fuU amount oi each and e~•ery such payment shal! be immediately due and payable and shall bear interest (rom the date 5 chereof unti! paid at the nte seated in che note secured hereby and together with such intereat st?al! be secured by the lien of this ; ' ~fortgage. x ~ ~ To permit, commit, or suffer no waste, impairment or deterioration of s:iid propert~•, or any part thereof, and upon ~ the faiture of the mort~agors to keep the buildings on said propert~• in good condition of repair, the Association may demand the ~ i~nmediate re~ir of said bu:ldings or the immediate repa~Tr?ent of the debt hercby scrurecl, and the failure of the mortgagors ; to compiv with said demand of the Assaciation for a perioc! of Thirty (30) da~~s, shall constitute a breach of this mortgage, and, at the option of the Association, immediatPlv mature the entire amount of principal and interest herebv secured, and the ; Association, immediately and without notice, may institute proceedin;s to foreclose this mortgage and apph~ for the appointanent ~~f a Recei~•er, as hereinafter provided. + r s 7. This mortgage contraM provides for additiunal advances ~~•hich may be made at the option of the association and ~ ~ secured by this mortgage, and it is agrceci ihat in the event of such advances the amount may be addecl to the mudgage debt ~ ` and shall increase the unpaid balance of ihe note hereby secured by ihe amount of such advance and shall be a part of said ; note indebtedness under all the terms of said note and this rnntract as fully as if a new such nole and contract ~rere executed .~nd deli~•ered. An ,~dditional advance agreement may Ue gi~~en and accepted for such advance and provision may be made for ciifferent mont6lv ~~~ments : nd a different interesi rate and other express modifications of the contract, but io all other respects s ~his contract sh.~ll remain in full force and e(fect as to said indebtedness, including all advances. 8. If any of the sums of money herein referrecl to be not promptly and fullv paid within Thirty (30) days next after ~ the same severally rnme due and payable, or if each and every the siipulations, agrcement, conditions, and covenantr of said ' promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned in said promissory note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage shall bc~come due and pav3ble forthwith or thereafter at the option of the Association, as fully and completely as if said aggregatc sum of money ~vas originally stipulated to be paid on such dav, an}~thing in said promissory note or herein to the contrarv not- _ .ti~thstanding. " . To deUver to the Association, on or before \iarch l~th, of each year, tax reeeipts evidencing the payment of all la~~•- ; fuily im ~~sed t:ues Eor the precediny c:~lendar year; to deliver to the Association receipts evidencing the payment of all liens ' for public improvements K~ithin ninety (90) days after the sarine shall t~ccomc due and payable, and to pay or discharge within ~ ninety (90) d~vs after due date, any and all govemmental levies that may be made on the mortgaged property, on this mortga~e nr note, or in any other ~~ay resultin~ from the mortgage indebtedncss zecurecl bv this mortRa~;e•. . _ y ~ ~19~ ,~i3~3 ~ . . - . - Ilc ~