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Home My WebLink About2769 at aq times pe:?ceabty and quiedy to enter upon, hold, cxrupy and ~~r~j~y said Ixnd; that said la~d is fcee irom all encumbrances; ~ that t}:ey will make such futther ass~uar?c~ea to perfec,t tLe fee simple title to said land in the Associatiort as mav reasonably bc required; and that they do hereby fully warrant the title to asid lsnd und will defend the s:~mc agxinst ti~e la~~•ful cluirns of :.11 perso~u ~ehomwever. ~ PROYIDED ALWAYS that if the \lortg:~gurs shall ~vell and tndy j~:~y unto t}~e Association, the iudebteclnrss eviderrced by that certain promissory note, of even date herewitb, made bv the Mortgagors and pa}•able to the Assnciation, in the principal ; . ~ .um of FIFTEEIIT THOUSAND TWO HUNDRED AND NO/100ths------ Dollars ~s 15, 200. 00 ~ ~ .~~hich note, tc~get6er with interest thereon as therein specified, is p:~yaWe in monthlv instaDments oE QNE HUNDRED "rWEI1iT.Y-SEVEN.9ND 15/100ths--------------------------------------------------- ~ ~ _ - s ; ~ valt:?r~ (s 127.25 ' - - - ~ on the 1Q.ttl d•ry of each month cummencing ~vith 1LZr~~'~tl_~_Q+.~.~7~.- v~•hich payments . :ue to be applied, fust to intetest, and the balance to principal, until said indebtedness is paid in full, and shaU perform, oomply ~.~ith and abide by each and every the stipulations, agreements, conditions and covenants of said ixomissory note and this mortgage, Md, including any advances made by the Association to the Mortgagon, or their successors in tit}r, for any puryose, at a~y time before the mlease and cancellation oE this mortgage, but at no time shall this mortgage secure advances on account of said original note together with such additionat advances in a sum in eceess of_FI~'I'EE~--~'-E~-USAND-TVSID---_- - I-~U11TD.RED.AND.1~Q_~1Q_QYhS_---------.-----_----- Doltars (s15,.20U~ 00._ pl~u any advances neeessan• tu protect the security_ and costs, then this deed and the estate hereby created shall cease And be nuil and ~-oid. AND THE ~lORTGAGORS DO hereby c~venant and agree: 1. To pay all and singular the principal and interest and other sums of money pa}':ible by virtue of said promissory nute .~nd this mortgage, or either, promptly on the days respectively the same severally come due. 'l. To pay aU and singular the tazes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind now on said described property; or that hereafter may be im~, suffereci, placed, levied, or assessed thereon, or that hereafter may be levied or ass~csed upon this itortgage, or the inde tedness secured hereby, each and e~~ery, ~vhen due and payable, ~ccording to law, before they become delinquent, and be#ore any interest attaches or am• penalty is ineurred; and insofar as .,ny thereof is of record the same shal! be promptly satisfied and discharged of record and the original official document (surh as, for instance, the tau receipt or the satisfaction iraper officially endoned or certified) shall be ptaced in the hands of said Association as lfortgagee within ten days next aker payment; and in the event that any thereof is not paid, satisfied and dischargecl, said Association may at any time pay the same or any part thereof ~~lthout waiving or affecting any option, lien, equitv or right t?nder or by virtue of this ilortgage~ and the full amount of each and every such payment shall be immediately due andpa yable ~ind shall b~ar interest from the date thereof until paid at the rnte stateci in the note seeurecl hereb~• and to~ether with such inter- c~st shall be secured by the lien of this Mortgage, ~ 3. To keep the buildings and all equipment and personal property no~v or heteaEter on uid premises covered by this mortgage, insured in a sum equal to at least the amount ot the mortgage. or an amount sutficiene to comply with any co-insunnce require- ; ment covering the same under the laws of the Sute o[ Florida, covering loss from both tire and storm, mating the loas under said policies, each and every, payable eo the Associa[ion, as mortgagee, as ics interest may appeu, and said insurance shall be in a good and responsible insurance company ucisfactory to said r~ssociation, and written by a responsible loul agenc satis[actory co said ~1sso- ciation: and the policy or policies shall be~r a standard morcgage clause without contribution, and, i( the original principal amount of the mongage is Fi[ty lhousand and no/ 100 Dollars (;50.000.00) or in txcess thereoE. shall be held br the Assotiacion, and, in the event any sum of money becomes payable under such policy or policies, the Association shall have ehe option to receive and applr che same on account of the inctebtedness ~ereby secured, or to permit the mortgagon to receive and use it, or any part thertof. for oiher purpoaes, without thereby waiving or impairing any equity, lien, or right under and by virtue o[ this mortgage, and may place and pay for such insurance, or any part ehereof, ~vithout waiving or a[[ecting its option to (oreclox, or any right flenunder. and the [ull amount of each and every such payment shal[ be immediately due and payable and shall bear interest fnom the d~te thereoi until paid at the rate stated in the note secured herrby and together with such interest shall be secuted by the lien o[ this .~~ortgage. ~l. To permit, c~ommit, or sufEer no waste, impairment or deterioration of wid propert~•, or :iny part thereoE, and upon t}~e failuro of the mortRagors to keep the buildings on said property in good condition of repair, the Association may demand the immediate repair of said bu;ldings or the immediate repayment of the debt hereby secureci, anJ the faiiure af the mortgagors to comply ~vith said demand of the Association for a period o# Thirty (30) da~~s, shall consiitate a breach of this mortgage, and, at the option of the Association, immediatelv mature the entire amount of principal and intcKest herebv secured, and the .~ssociation, immediately and Kithout notice, may i~stitute proceeclin~s to forerlose this mortgage and applv for the appointment ~f a Receiver, as hereinafter pmvide.i. 5. This mortgage contract provides for addition.il advances which m:iy be made at the option of the association and ! secured by this mortgage, and it is agreed that in the event oE such advances the amount may be added to the mortgage debt and shalt increass the unpaid ba~ance of the note hereby secured by the amount of such advance and shall be a part of said note. indebtedness under aU the terms of said note and this contract as fully as if a new such note and contract ~•ere exec~tecl and delivered, An :idditional advance agreement may be given and accepted for such advance and provision mav be made for ~iifferent monthly ~a~~ments .^.nd a different interest rate and other express modificatans of the contract, but in :i)l~other respects ihis contraet sha11 remain l'n Eu11 force and effect as to said indebtedness, intluding all advanees, 6. If any of the sums of muney herein referred to be not prompdy and fully paid within Thirty (30) days next after i the same severally rnrrte due and payable, or if each and every the stipulations, agreement, conditions, and covenants of said ; promissory note and th~ deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentianed ~ in said promissory note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage ~ shall become due and payable forthwith or thcreafter at the option of the Association, as fully and completely as if said ag~~regate sum of money was originally stipalated to be paid on such dav, am~thing in said promissory note or herein to the contrarv not- wit}utanding. " ' ' i. To deliver to the Association, on or be(ore ~farch I5th, of each year, tax receipts evidencing the pa}'ment of all la~.-- fully imposed taxes for the preceding calendlr year, to deliver to the Association receipts evidencing the payment of all liens for pub~ic improvements w7thin ninety (90) days after the same shall hecome dne and payable, and to pay or d'ucharge within ninety (9p) da~-s after due date, any and alt governmental levies that may be made on the mortgaQed ~roperty, on this mortga~e ~r note, or in any other way resultinR fmm the nx~rtgage indebtedness securecl b~• this mortga~e. ~~9~ ~f~7sg : 3 t