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Home My WebLink About0098 at aU times pcace~ably and quiedy to e~?ter upon. hold, occupy and enjoy said tand; that said land is'frce from ai! cncumbrances; that they will make such further assurances to perfect the fee dmple title to said land in the Association as may reasonably be required; and that they do hertby fiilly warrant the tide to said land and will defend the s:.me against the lawful daims of .~II persons ~vhomsocver. ~ PROVIDED ALWAYS that iF the rlortgagors shall well und truly pay unto the Association, the indebteclness evidenced by that certain promissory note, of even date hecewitb, made by the Mortgagors and pay-able to the Association, in the principal sum of _FIFTEEN_THOUSAND TWO HUNDRED_AND,.NQ/ ~OQthS. pol~;~rs ~a ~5, 200. 00 ~vhich note, together with intetest thereon as therein specified, is payable in monthly instaliments oE ONE HUNDRED . T1N~NTY -FflIIR AND SO I lOUths . - - - - - - - - _ - _ - - - - - - - - - - - - - - - - - - - _ - - - - - _ nouars (S . 124. .80 - ; on the. ~th--- .-.---day of each month c~mmencing with.. _._.~ept.6~Jex'--$~--1~T~-- --.-----------------------------whicb payments ~ .ue to be :ipplied, first to interesc, and the balance to principal, until said iadebtedness is paid in fuU, and shall perEorm, oomply ' with and abide by each and every the stipulations. agreements, rnnditions and covenants of said promissory note and this mortgage, Md, including any advances~?ade by the Association to the Mortgagors, or their successors in titlr, for any purpose, at any time before the release and canc~itation of this modgage, bui at no time shall this mortgage secure advances on account of said ~eriginal note togetAer ~vith such additional advances in a sum in excess of_ ~F'__I_FTEEN_THOUSAND TWO,__._ ~ I-~U~X?R~I?_,t4?I~II2_rI~?~1QQthS--=-_----------.-_ __-_-_.-..-Dollars ($__15~,29Il._4Il---). plus any advances necessarv ro pmtect the sccurity and casis, iben this deed and the estate hereby created shall cease and be null and void. ~ AND THE btORTGAGORS DO hereby cvvenant and agree: 1. To pay all and singular the principal and inte~+est and other sums of money payable by virtue of raid promissory note .~nci this mortgage, or either, promptly on ihe days respectively the same severally come due. 2. To pay all and singular the taxes, a~sments, levies, liabilities, obligations and incumbrances of every native and kind now on said described pr~perty, or that hereafter may be imp~s~1, suffered, placed, levied, or assessed thereon, or that hereafter may be levied or assessed npon this Mortgage, or the indebtedness secured hereby, cach and every, when due and ~yable, accorciing to law, before they beeome delinquent, and before any interest aitaehes or any penalty is ineumed; and incofar :u any thereof is of record the same shall be promptly satisfied and discharged of record and the original official document (such ~s, for uutance, the tax receipt or the satisfaction paper officially endoised or certified) shall be placed in the hands of said Association as \Zortgagee within ten days next after payment; and in the event that any thereof is not paid, satisfied and discharged, said Association may at any time pay the same or any part thereof ~viihout waiving or affecting any option, lien, equity or right under or by virtue of this !lfortgage, and the full amount of each and every such payment shall be immecliately due andpa yable and shall bear interest from the date thereof until paid at the rate stated in the note secured hereb~• ;uid together with such inter- est shall be secured by the lien of lhis Mortgage. ' 3. To keep the buildings and all equipmenc and personal property now or hereaicer on said premises covered by this mortgage. insured in a sum equal to ac least the amount ot the mortgage. or an amount sufficient to rnmply with any eo-insurance require- ment mvering the same under the laws of the State of Florida, rnvering loss irom both tire and storm, making the lass under 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 satisfactory eo said Association, and written br a responsible local agent satisfactory to said Asso- ciation: and the polity ot policies shall bear a standard mortgage clause without contribution, and, if the original printipal amoant of the mortgage is Fi[ty Thousand ar~d no/ 100 Dollars (s50,000.00) or in exceas thereof, sLall 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 receive and apply che same on accounc o[ the indebeedness hereby secured, or to permic the moregagois to receive and use it, or any part thereof, for other purpoaes, without thereby waiving or impairing any equitr, lien, or right under and by virtue of this mortgage, and may place and pay [or snch insurance, or any part thereof, withouc waiving or a[fecting its option to [oreclose, or any right hereunder. and the full amount of each and every such payment shall be immediately due and payable and shall bear interest Bnm the date thereof until paid at the rate stated in the note secured hereby and together with such interest ahall be secured br the tien oi this ~fortgage. To permit, commit, or suEfer no waste, impairment or deterioration of s:zid propert~~, or :iny part thereof, and upon the failuro of the mortgagors to keep the buildings on said property in good condition of repair, the .4ssociation may demand the immediate repair of said buildings or the immediate repayment of the debt hereby secured, and the failure of the mortgagors 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, immediately mature the entire amount of principal and interest herebv secured, and the .4ssaciation, immediatety and without notice, may institute proceedings to forecldse this mortgage and apph• for the appoinrinent ~f a Receiver, as hereinafter providecl. 5. T~is mortgage tontract provides for additiorwl advances which may be made at the option of the association and secured 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 nnpaid balance of the note hereby secured by the amount of svch advance and shalt be a part of said note indebtedness under a[I the terms of said note and this contraM as futly as if a new such note and oontract «~ere executecl :md delivered. An :idditional advance agreemeat may be given and accepted for such adyance and provision may be made for different monthly payments wnd a diffetent interest rate and other express modifications of the coniract, but in all other respects ihis contract shall remain in fall force and effect as to said it?debtedness, including all advances. ~ 6. If any of the sums of muney herein referred to be not pmmpdy and fully paid within Thirty (30) days next after the same severally come due and payable, or if each and every the stipulations, agreement, conditions, and covenants of said promissory note and this deed, or either, are not duly performed, complied with and abided by, !he aggregate sum mentianed in said promissory note and any other amoant or amounts added to the mortgage indebtedness under the terms of this mortgage shall become doe and payable forthwith or ihcreafter at the option oE the Association, as fully and compktely as if said aggregatc sum of money was originally stipulated to be paid on such day, anything in said promissory note or herein to the contrarv not- withstanding. - 7. To deliver to the Association, on or before 'lfarch I5th, of each year, tax receipts evidencing the payment of all IaK-- fully {~posed taxes fqf the prececling calendar year; to deliver !o the AssociaHon receipts evidencing the payment of all liens for public improvements within ninety (90) days aker the same shall hecome due and payable, and to pay or discharge within ninety (9p) days after due date, any and a!) govemmental levies that may be made on the mortgaged property, on this mortgage ~r note, or in any other way msulting from the mortgage indebtedness secured by this morigage. $~~K~ ~ ~ ~ ~ _ , > : - ~ 'L~Y ~v y ~ - _ ~ :h;,a~, 4 ~ ~ ~~~t..,~r~-='.~"^ . „ , - ~ ~ _