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Home My WebLink About1576 . j i ~ ~ t ! at aU times peaceabty and quiedy to enter upon, hold, occupy a~~d cnjoy sud Ixnd; that said land is free Irom all encumbranoes; that they will make such further assurat?ces Lo perfect the fee s[mple tide to said land in the Associution as may reasonably bc required; and that they do hereby fully warrant the title to said land and will defend the sume ngainst the la~vful claims of all pecsons whomsoever, PROVIDED ALWAI'S that if thc l~lortgagurs shap well and truly pay unto the Association, the indebtecl~ess evidenced by that certain promissory note, of even date herewitb, made by the I~tortgagors and ~ayable to the Association, in thr princi~~.~l tum of _..T.WENTY TWO THOUSAND AND NO/100ths Uollars (s 22, 000. 00 ~~•hich note, together with interest thereon :u ihemin specified, is p:iyable in monthly installments of ONE HUNDRED SIXTY-Z'WOAND58/100ths - - - - - - - - - - - - - - - - - - - - - - - - - _ - - - - - _ . _ Dollars (s 162. 58 _ on the-.---2Qth day of each manth cvmmencing .~ch _------March_20 _1972 ---._------.._.___which payments - are to be applied, first to interest, and the balauce to principal, until said indebtedness is paid in full, and shall perform, com p_1y ~rith und abide by each and every the stipulations~ agreements, conditions and covenants of said promissary note and this mortgage, And, including any advances made by the Auociation to the Mortgagors, or their successors in tidc, for any purpose, at any ticrte before the mlease and cancellation of this mortgage, but at no time shall this mortgage secure advances on account of said original note together ~vith such additional advances in a sum in excess of______TVPFNTY_TWO TFIOUSAND _ AND NO/100ths - - - - - - - - - - - - ~~~a~ ~a 22, 000, 00 p~~ ~y advances necessan~ - - to protect the security and costs, then this deed and the estate hereby createcl shall cease and be null and void. AND THE 11iOR1'GAGORS 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 promissory notc .~nd this mortgage, or either, prompdy on tfie days respectively the same severally come due. 2. To pay all and singular the tazes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind i no~v on said described property, or that hereafter may be im~ suffered~ placed, levied, or assessed thereon, or that hereafter may be levied or assessecl upon thic btortgage, or the indebtedness securecl her+eby, cach and every~ when due and payablc, :~ccorduig to Lzw, before they beiome delinquent, and before any interest attaches or any penalty is incurred; and insofar :u .iny thereof is of record the same sl~all be promptly 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) shail be placed in the hands of said Association as ~tortgagee ~~~thin ten days next after payment; and in the event that any ihereof is not paid, satisfied and dischazgecl, said Association may at any time pay the same or any part thereof without waiving or affecting any option, lien, equity or right ~ iinder or by virtue of this Jiortgage~ and the full amount of each and every such payment shall be immediately due andpa yable and shall bear interest from the date thereoE until paid at the rate stated in the note secured hereb~• and together with such inter- est shail be secured by the lien of this Mortgage. ' 3. To keep the buildings and ali equipmenc and petsonal property now or herea[ter on aaid premises mvered by thu mortgage. insured in a sum eqaa! to at least the amount of the mortgage, or an amount sutficient to rnmply with anr co-insunnce require- ment m~ering the same under the laws of the State ot Florida, covering loss trom both fire and storm, making the losa uader said policies, each and every, payable to the Association, as mortgagee. as its interest may appear, and said insurance shall be in a good and responsible insurance company satisEactory co said Association, and written by a resporesible loca! agent satisfactory to said Asso- ciation; and the policy or policies shall bear a standard mortgage clause without rnntributioa, and. if tht original principal amount o[ the mongage is Fifty Thousand and no/100 Dollan (j50,000.0p) or in excesa thereof, shall be heW by the Assotiation, and, in che event anr sum oE money becomes payable under such policy or policies, the Association shaU h~ve the option to receive and appiy che same on accoune o[ the indebcedness hereby secured, or to permit the mortgagors to noeive and use ic, or any part chereof, for other purposes, without thereby waiving or impairing any equity, lien, or right under and by virtue oi this mortgage, and may place and pay tot such insurance, or any part thereof, writhout waiving or aifecting its option to toreclose. or anr right hereunder. and the full amount of each and every such payment shall be immediatety due and payable and shall bear interest imm the date thereo[ until paid at the nte stated in the note secured hereby and together with such interest shall be secured by the lien of this \iortgage. 4. To permit, commit, or svEfer no waste, impairment or deterioration of said propert~•, or any part thereof, and upon the failuro of the mortgagors to keep the buildings on said property in good condition of repair~ the :,ssociation may demand the immediate repair of said buildings or the immediate repayment of ihe debt hereb) sccured, and the failure of the mortgagors to comply ~vith said demand of the Association for a period of Thirty (30) days, shalt constitute a breach of this mortgage, and, at thc option of the Assaciation, immediately mature ihe entire amonnt of principal and interest hereby secured, and the Association, immediately and without notice, may institute proceedin;s to foreclose this mortgage and appiv for the appointment of a Receiver, as hereinafter provided, 5. '1'his mortgage contract provides for additional advances w~hich may be made at the option of the association and ~ secured by thu mortgage, and it is agreeci that in the event of such advances the amount may be added to the mortgage debt and shall increase the unPaid balance of the note hereby secur~ed by the amount of such advance and shall be a part of said note indebtedness ander all the terms of said note and this contraM as fully as if a new such note and contrart w•ere executecl and delivered. An additional advance agreement may be given and accepted for such advance and provision may be made for different monthlv payments 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 effect as to said indebtedness, including a!1 advances. 6. If any of t6e sums oE tnoney herein referred to be not prompdy and fully peid withia Thirty (30) days next after the same severaUy oome due and peyable, or if each and every the stipulations, ao cement, conditions, and covenant~ of said promissory note and this deed, or either, are n~ duly performed, complied with and abided by, ihe aggregate sum mentianed in said promissory note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage shait become dae and pa~~ble forthwith or thereafter at the option of the Association, as f~illy ancl completelv as if said aggregate sum of money was originally stipulated to be gaid on such dav, anything in said promissory note or herein to the contrarv not- w~t}~standing. , 7. To deliver to the Association, on or before ~larch 15th, of each y~ear, tax receipts evidencing the payment of all la~+•- fully imp~sed ta:es for the prececling ralendar year; to deliver to the Association rereipts evidencing the payment of all liens for public improvements within n' ~ nine 90 ~'all become due and payable, and to pay or discharge within ~ ty days after due date, any and alt govemmenta! levies that may be made ore the mortgaged property, on this mort~age ; nr note, or in any other way msulting from the mortgage indebtedness secured by thu mortgaQe. ~ t E~oK200 P~E1575 ' _ - ~ ~ ~ _ : . . . _ _ _ ~