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Home My WebLink About1433 ~t all times praceably and quietly to enter upon, hold, occupy and cnjoy said Ixnd; that said land 'u frez from aU encumbrances: that they will make such further assurances Lo perfect the fee simple tide to said land in the Associution :u mav reasonably be rec~ui r e d; a n d t h a t t h e y do hereb y full y warraat the tide M said land and will deEend the same ag:unst the law[u) clainu of i .~Il penons whomsoever. ~ PROVID~D AL~VAYS that iF the ~lortgagors shall well and tndy p:iy unto the Assix•iation, the in~iebtedness evidenced ~ by that certain promissory note, of even date herewitb, made by the ~iortgagors ancl payable to the As~ociation, in th~ principal .um of TV~ENTY-ONE.THOIISAND.AND.NOI_100ths- - - - - - - - - - -DoUars (S 21, 000. 00 ~vhich note, together ~~ith interest thereon as therein sixxcified, is p:iy:lble in monthlv installme~~ts oE ONE HiJNDRED SIXTY -FIVE AND 98 / 1QOths_ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - , _ . . uotl~rs (S 165. 98 - - on the .15~1._ d:?y of each month commencing with - ~Iu1X_ 15 .__1972- - ---which payments are to be applied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, eomply with and abide by ~each and every the stipulatans. agreements, conditions and covenants of said pmmissory note and this mortgage, And, including any advances made by the Assoc~ahon to the ~iortgagors, or the'v successors in tidr, for ar?y pw'poae, i at anv time before the mlease and rancellation of this mortgage, but at no time shall this mortgage secure advances on account of suid original note together ~vith such additional advances in a sum in excess of__~WENTY-ONE__THOUSAND___ _ a AND NO/100ths- - - - - - - - - - - - ' ' ' T~ollars (5.21,Q00,.00 plus any advances necessa~• - - - . _ - - - - to protect the security and costs, then this deed and the estate hereby createcl sh:~ll cease and be null and void. A?11D THE 11iORTGAGORS DO hereby c~venant and agree: 1. To pay all and singular the principa1 and interest and other sums of money payable by virh?e of said prumissory notc ~ .~nd this mortgage. or either. promptly on the days respectively the same severally come due. 2. To pay all and s~gular the taxes, assessments, levies.liabilities, obligations and incumbrances of every nature and kind # ~~o~v on said deseribed property, or that hereafter may be imposecl, s~dfereci~ plaeec~; kwied. or assessed t6ereon, or that hereafter ~ may be levied or asse.csed upon this 1ltortgage, or the indebtedness securecl hereby, cack•and every, when due and payable, ,~ccording to la~v, before they become delinquent, and before any interest attacries or am penalty is inc~ared; and ir?wfar .u any thereof is of record ihe same shaA be grompdy satisfied and dischargetl of record and the osiginal official document (such 1s, for instance, the tau receipt or the satisfaction paper officially endorsed or certified) shall be placed in the-;hands of said Association as ~iortgagee w~thin ten days neat after ~rayment; and in the event that any ihereof is not paid, satisfied and discharged. said Association m:iy at any time pay the same or any part thereof ~vithout waiving or affecting any option, lien, equitv or right under or by ~~rtue of this itortg~ge, and the full amount of each and every such payment shall be immediately due andpa yable and shall bear interest from the date ihereof until paid at the rate stated in the note secured hereb~• and to~ether with such inter- ~st shall be secured b~ the lien of ihis hiortgage, r 3. To keep the buildings and all equipment and peisonal property now or hereafter on uid premixs covered br this mortgage. insured in a sum equal to at least the amount of the mortgage, or an amount su[ficitnt to comply with any co-insurance require- ment covering the same under the laws ot the State ot Florida, rnvering loss from both fire and storm, making the loss under said policies, each and every, payable to the Association, as mortgagte, as its interest may appear, and said insunnce shall be in a good and responsible insurance company satis[actory to said elssociation, and written by a responsible local agent satistactory to said Asso- ciation: and the policy or policies shall bear a standard moregage clause without contribution, and, if the original principal amount of the mor[gage is Fitcy Thousand and no/ 100 Dollan (;50.000.00) or in excess chereof. stull be held by the Association, and, in f ehe e~•ent any sum of money becomes payable under such policy or policies, the Association shall hav~ the opcion to receive and applr ~ the same on account of the indebtedness hereby secured, or to permit the mortgagon to receive and use it, or any part thereof, for ; other purposes, without thereby waivinq or impairing any equity. lien, ot right under and br virtue of this mortgage. and may ~ place and pay tor such insurance, or any part theteo(, without wai~•ing or affating its option to forecloae, or any tight heteunder. ~ and the full amount of each and every such payment shall he immediately due and payable and shall bear intetest from the date ~ chereof until paid a[ the nte stated in the note secured hereby and together with such interat shall be secured br the lien of thia ~ ~foctgage. ` 4. To permit, commit, or suffer no waste, impairment or deterioration of said propert~•, or :?ny part thereof, and upon : ~ the failuro of the mort~agors to keep the buildings on said property in good condition of repair, the :lssociation mav demand the ~ immediate repair of said bu;ldings or the immediate repayment of the debt hereb~~ securecl, :~nd the failure of the mortgagors ~ to comply ~vith said demand of the Associ.ltion for a period of Thirty (30) davs, shall constitute a breach of this mortgage, and, at the option of the Association, immediatelv mature the entire amouni of princiYral and interest hereby secured, and the ~ .~ssociation, immediately and without notice, may institute proceedin;s t~ Foreclose thu mortgage and appl~~ ~or the appointment ~ ~~f a Recei~•er, as hereinafter pmvided. ~ 5. This mortgage contract provides for additional advances ~~~hich may be made at the option of the association anel ~ ~ecured by this mortgage, and it is agreed 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 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 contract as fully as if a new such note and contract ~~~ere ezecutecl - .ind ~ielivered. An additional advancc agreement may be given and accepted for such advance and provision ma} be made for clifferent monthh• pa~~ments wnd a different interest rate and other expreu modifications of the contract, but in all other respects ~ ihis contract shall remain in full force and effect as to said indebtedness, including all advances. ~ 6. If any of the sums of muney herein referred to be not prompdy and fullv paid ~~•ithin Thirty (30) days nrxt after ~ the same severall} rnme due and payable, or if each and everv the stipulations, agrcement, conditions, and covenants of said x ~romissory note and this deed, or either, are not daly performed, complied v~•ith and abidecl by, the aggregate sum mentioned ~ in said promic~ory note and am• other amount or amounts added to the mortgage indebtedness under ihe terms of this mortgaRc ~ shall become due and pa~~3ble forthwith or thcreafter at the option of the Association, as fully and completely as if said aggregat~ ~ ~um of money was-originally stipulated to be paid on such dav, anvthing in said promissory note or herein to the contrarv ~~t- . . - ; ..it}utanding. ~ i. To deliver to the Association, on or before ~tarch l~th, of each y~ear, ta~ receipts evidencing the payment of all laN-- - Fullv imposed taxes for the precedin~ calenclar year; to deliver to the A~sociation receipts evidencing the pa}+ment of all liens ~ for pub~ic impmvements K-ithin ninety (90) days after tbe same shall berome due and payable, and to pay or discharge within t ~ ninety (90) da~x after due date, any and all govemmental levies that may be made on the mortg:~qed pn~perty, on this mori~agP ~ ~ ~r note, or in am~ ~~ther way msidtinQ fmm the mortgage indebtedncss secured b~- this mortRaQF. ~ ~ UR ~~~~203 ~~1~~3 ~ ~ ~ , ~ _ ~ ~ _ _ ~ . ~ - . ~n~~~