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Home My WebLink About1571 ' LD ' . t ? • . L . a . ~ ~ r at aU times peuceably and quiMty to eater upon, hold, occupy and enjoy said l~ind; that said land 'u Eree from all encumbrances; ~ that they wiU make such furth~ assunnoes to parfect the fee dmple tide to said land in the Association as may reasonably ix: l recluired; sud that they do hereby fuUy warrant tho title to ssid lund and ~vilf defend the same egainst the la~vful clainu oi ` :~Il persons ~~homscever, ~ PROVIDED ALWAYS that if the l~iortgagors shall well und truly pay unto t1~e Aswciation, the indebteclness evidenced by that certain promissory note, of even d~?te herewith, made by the lfortgagors and payable to the Association, in the principal ;~,m ~_SIXTEEN THOUSAND FIVE_ HUNDRED AND NO/100ths a,~~.~~ ~s 16, 500. 00 ~.•hich note, together K~th interest thereon as therein sPeciEied~ is payable in manthly installments af ONE HUNDRED ~ THIRTY-TWO AND g3 /100ths - - - - - - - - - - - - - - - - - - - - = - - ~ - - ~ - _ _ . _ _ _ _ . . . ~ i _ . - - - - Dollars (s . 132, 9.3 _ - ~ un the. ..3Td -----ci:~y of eaeh month commencing ~vith . ApY'll_3,_1972---------------- - - which payments ~ .?re to be applied, first to interest, and ihe balance to principai, until said indebtedness is paid in full, and shall perfornu, oomp ..•ith and abide by each and every the stipulations, agreements. conditio~s nnd covenants of said pmmiaory note and th~u : mortgage, And, iacluding any advances made by the Associahon to the yortgagors, or their successors in tide, for any purpose, at any time beEore the release and cancelladon of this mortgage, but at no time shall this mortgage secure advances on account ? of said original note together ~vith such additionat advances in a sum in excess of____._SIXTEEN T$OUSAND FIVE ; HUNDRED AND NO/100ths - - - - _ - - ~s 16, 500. 00 _ plus any advances necess~n~ ; - - - to protect the security and costs, then this deed and the estate hereby createcl s6all cease and be nuli and void. ~ AND THE riORTGAGORS DO hereby cuvenant and agree: ~ 1. To pay all and singular the principal and interest and other sums of money payable by viriue of said promissory notc .~nd this mortgage, or either, promptly on the days respectively the same severally come due, 2. To pay all and su~gular the taxes, assessments, levies, liabilities. obligations and incumbrances of every nature and kind no~v on said described property, or that hereafter cnay be im~ , suffered, placed, le~7ed, or assessed thereon, or that hereafier mav be levied or assessed upon this itortgage, or the indebtedness secured hereby, cach and every, when due and payable, .~ccording to lativ, before ihey b~,~c~ome delinquent, and before any interest attaches or :u~y penalty is incurred; and 'uuofar as a~y thereof is of recc~rd the same shall be pmmptly satisfied and discharged of record and the original official document (such :~s, for instance, the tax receipt or the satisfaction paper officially endorsed or certified) shalt be placecl in the hands of said Association as \fortgagee within ten days next after payment; and in the event that any therrof is not Iraid, satisfied and discharged, said Assoceation may at any time pay the same or any part theteof ~vithout waiving or affecting any option, lien, equih~ or right tinder or by virtue of this ~tortgage, and the full amount of each and every s~ch payment shall be immecliately due andpa y:ible ~u?d shall bear interest from the date ihereof until paid at the rate stated in the note sec~rcect hereb~• and together with sach inter- t~st shatl be secureci by the lien of this l~tortgage. ~ 3. To keep the buildings and all equipment and penonal propeny now or herealter on said premises covered by this mortgage, insumd in a sum equal to at least the amount ot ~he mortgage, or an amount sufficient to rnmply with any co-insunnce tequire- ment covering the same under the laws oE the State o[ Florida, mvering loas from both firt and storm, making the loss under said policies, each and every, payabk to the Association, as mortgagee, as its interest may appear, and said insurance shall be in a good ' and tesponsible insurance company satistactory to said rissociation, and written by a responsible local agent satistactory to said Asso- ciation; and the policy or policies shall bear a standard mongage dause withoue contribntion, and, iE the original principal amount of che mongage is Fittr Thousand and no/ 100 Dollars• (s5p,000.pp) or in excess thereof; shall be held by the Association, and, in the eeent any sum of money becomes Payable a~~der suth poiicy or poticies, the Association shall have the option to receive and appir the same on accoune ot the indebtedness hereby securrd, or to pe:mit the mottgagors to receive and use it, or any part thereof, for other purposes, without thereby waiving or impairing any equity, lien, or right under and by virtue of this mortgage, and may place and pay for such insurance, or any part thereof, wiehout waiving or af[ecting its option to forrciose, or any right hereunder. and the full amount of each and e~ery such payment shall be immediately due and payabte and shalt bear interest trom the date ehereof until paid at the nte stated in the note securrd hereby and togethtr with such intereat shall be secured by the lien of this - ~fortgagt. . ~ To permit, commit, or suffer no tvaste, imFairment or deterioration of said propert~•, or .iny part thereof, and upon t}~e failuro oE the mortgagors to keep the buildings on said property in good conJition of repair, the Association may demand the irnmediatc re~~ir of said buildings or the immediate repayment of the debt hereby secured, and the failure of the modgagors to comply with said demand of the Association for a period of Thirty (30) days, shall constitute a breach of this mortgage, and, at the option of the Association, immedeately matare ihe entire amount of princi~ral and interest hereby secured, and the :lssoeiation, immediately and without notice, mav institute proceedin~s ta foreclose thu mortgage and applv for the appointment nf a Recei~•er, as hereinafter provided. 5. This mortgage contract provides for additional advances w•hich muy be made at the option of the association and ~ secureci by this moztgage, and it is agreed that in the event of such advances the amount may be added to the modgage debt and shatl increase the unjraid balanoe 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 nole and contraM w~ere execntecl .~nd deliverec}. M additional advancc agreement may be given and accepted for such advance and pmvision may be made for ~iifferent monthlv payments ~nd a different interest rate and other express modifications of the rnntract, but in all other respects ~his rnntract sha11 remain in full fo~re and effect as to said indebteclness, including all advances, 6. If any of the sums of muney herein referred to be not prompily and fully paid within Thirty (30) days next after the same severally come due and payable, or if each and every the stipulations, oamement, conditions, and covenants of said promissory note and ihis deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned in said promissory note and any other amount or amounts added to the mortgage indebtedness under the tc~rms of this mortgage ~ shaU become due and pa~•sble forthwith or thcreafter at the option of the Association, as fully and comp)etely as if said aggregate sum of money was originally stipulated !o be paid on svch dap, anvthing in said promissory note or herein to the contrarv not- ~ withstanding. ' . • i ~ 7. To deliver to the Association, on or before ~tarch 15th, of each ~•ear, tax receipts evidencing the payment of all laK•- ~ fully imp~ed taxes for the preceding calendar vear; to deliver to the Association reeeipts evidencing the payment of all liens for pub ~I'c improvements w7thin ninety (90) days after the same shall ~xxome due and payabie, and to pay or discharge within ' ninety (90) davs after due date, any and all governmental levies that may be made on the mortgaged pmperty, on this mortRage ~ ~r note, or in any other way msulting from the morigage indebtedness secured bv this mortgaRe. ~ BaQK 200 1570 z~ - a~ ~