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Home My WebLink About1918 i ace~abl and uied to enter u hold, occupy and ~nioy s:?id land; that sxid la~~d is Ere~: from all encumbrances; ~ at all hmes pe~ y q y P° that they will make such further assurances to perfect the fea simple title to saicl land in the Aswaation as mav re:~sonably ix rcyuired; and that they do hereby fully wariunt ihe title to sa?id land and ~vill defend the same ag~u~~ct thc la~vful claims of :;ll penons ~vhomscever. PRO\'1DED AL\VA1S thut if thc :~lortgagurs shall ~vell and tnily p:iy unto d~e Associ:ition, the indrbtednrss evide~~ced ; Lv that certain promissory note, of even date herewith, made by the Mortgagon and faayable to the Association, in the princi~xil ; .um oE FOIIRTEEN TIiOUSAND FQLIR HUNDRED AND NO/100Lhs----l~ll:~rs (3 14, 400. 00 ..•hich note, together ~~~th interest thereon as therein specified, is ~~:i~~:?ble in ~nanthiv installments ~~E ONE HUNDRED ; TWENTY AND 4~/100ths-------------------------------------------------------- ~ _ . Doll~rs (S 120. 4fi. _ on the. 20th day of each month cY~mmencing with FEhruar.~r --_20,___19.7.~ which payments .?re to be upplied, first to interest, and ihe balance to principal, m~til said indebtednesc is paid in fu11, and shalt perform, comply ..•ith and abide by each and every the stipulations, agreements, conditions and c~venants of said promissory note and this modgage, And, including any advances made by the Association to the tilortgagon, or theic succ~ssors in tidc, for any purpose, at anv time before the release and cancellation of this mortga~e, bi~t at no time shall this mortgage secure advances on account - ~ of said original note together with such additional advances in a sum in excess oE__FOURT~~N_THQUS~?lYi?._______ i ; FOUR_HIINDRED..AND_.11TQ.~1QQths_------_----.----Dollars (S 14,4QQ. OQ plus any advances necescan• t~~ protect the security and costs. then this deed and the estate herebv ereatecl shall eease and be null and voic:, ~ AND THE \iOR'PGAGORS DO hereby cv~•enant and agree: . ? 1. To pay all and singular the principal and interest and other sums of money p:~yable by ~~rtue of said promissory notc ,~nd this mortgage, or either, promptly on the days respectively the same severally come due. . ; 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind ~ n~i~v on s.1id described pmperty, or that hereafter ~nay be imposed, suEEered, placeci, levied, or asseszed thereon, or that hereafter ma~~ be levied or assessecl upon this ~tortgage, or the indebtedness secured hereby, rach and every, - when ~lue and payable, ; ,~ccorciing to la~v, before they become delinquent, and before any inte~est attaches or anv penalty is incurmd; and insofar :is ; .?nv thereof is of record the same shall be promptly satisfied and discharged of record and the original official document (such , as, for instance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said ; :~~sociation as ~fortgagee ~a~thin ten days next aEter pay~nent; and in the event thai any thereof is not paid, satisfied and discharged, 4 said Association may at any time pay the same or any p:ut thereof ~~~thout waiving or affecting any option, lien, equih~ or right i i under or b~~ virtue of this ~iortgage, and the full amuunt of each and every such payment shall be immecliately due andpa yable E and shall bear interest from the date thereof until paid at the rate stateci in the nole secured hereb~• and together ~vith such intcr- i ~st shall be secured by the lien of this l~iortgage. ~ 3. To keep the buildings and all equipment and personal property now or hema[ter on said premises covered by this mortgage, ~ insured in a sum eyual to at least the amount of the mortgage, or an amou~u sufficient to comply with anr co-insurance require- ~ ment covering the same under the laws o[ the State of Florida. rnveting toas tmm both fire and storm, making the loas under said `t oolicies, each and every, payable to the Association, as mortgagee, as iu interest mar appear, and said insuranct shall be iu a goai J E and responsible insurance company satis(actory to said Association, and written by a responsible 1oca1 agent satis[actory to said Asso- - ' ciation; and the policy or policies shall bear a standard mongage dause without contribution, and, i[ the orip,inal principal amount ' ~ of the mortgage is Fi(cy Thousand~ and no/ 100 Dollars (~50.000.00) or in excess thereof, 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 nceive and apply ~ ~ ttie same on account ot the indeb~edness hereby secured, or to permit the moregagois to receive and use it, or any part thereof, for ; o[her purposes, without thereby waiving or impairing any equity, lien, or right under and by virtue of this mortgage, and may place and pay [or such insurance, or any part thereot, without wai~•ing or aftecting its option to [oredose, or any right hereunder. _ and the [ull amount of each and every such payment shall be immediately due and payable and shall bear interest from the date ~ chereof until paid at the nte staeed in ehe note secured hereby and together with such interest shall be secured by the lien o[ this 3 ~fongage. ~ ~ 4. To permit, commit, or suEfer no waste, impairment or deterioration of ~id propert~-, or :iny part thereof, and upon ~ the failuro of the mort~agors to keep the buildings on sa~d propert~~ in good condition of repair, the Associatian may demand the ~ immediatc repair oE said bu:Wings or the immediate repayment of the debt hereby secured, an~l the failure oE the mortgagors ta complv ~vith said demand of the Association for a period of Thirty (30) da~~s, shall constitutc ~ breach of this mortgage, ! ~ and, at the option of ihe Association, immediatelv mature the entire amount of principal and interest herebv secured, and the Association, immediately and without notice, mav institute procee~lin~s to foreclo.ce this mort~age and apph~ for the appointment of a Recei~~er, as hereinafter provide~l. ~ ~ 5. This mortgage contract provides for addition.~l advances ~~•hich may be made at the option of the association and i secured by this mort~age, and it is agreed that in the event oE such advances the a:nount may be addecl to the mortgage debt ~ and shall increase the unpaid balance of the note hereby secured by the amount of such 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 ~cere excruted ~ ~nd ~lelivered. An additional advance agreement ma~• be gi~•en and accepted for such advance ancl provision ma~• t~.e made for ~lifferent monthlv pa~~ments ~:n<i a different interest rate and other express modifications of the contract, but in all other respects ~ ?his conEract shall remain in full force and e(fect as to said indebtedness, including all advances. 6. If anv of the sums of muney }~erein referred to be not promptly and full~• paid w~thin Thirty (30) days next after ihe same severally eome due and payable, or if each and every the stipulations, agreement, conditions, and covenants of said promissory note and this cleed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioneci in said promissorv note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage TF shall become due and pat~sble forthwith or thereafter at the opNon of the Association, as fully and completely as if said aggregate . sum of money ~vas originally stipulated to be paid on such dav, an~~thing in said promissory note or herein to the contrarv not- .vithstanding. ~ 7. To deliver to the Association, ~n or before ~tarch l~th, of each ~~esr, tax receipts evidencing the payment of all la~~•- fully im~osed taaes for the prececling calendar year; to deliver to the Association receipts evidencing the payment of all liens : for public improvements within ninety (90) days after the same shall hc~come due and payable, and to pay or d'ucharge within ~ ninety (90) da}'s after due date, any and all governmental levies that may be made on the mortga~eci propcrty, on this mort~age t ~r note, or in any other way resulting fmm the morigage indebtedness sec~ued by this mort~aGe. ~ - a~~~g9 ~i91? ~ 3 'i