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Home My WebLink About2385 ~ iit;~ ~~r~;, ~f F~urida at all times peaceably and quiedy to enter upon, hold, occupy and enjoy said l.~nd; that s.1id land is fre~ from aA encumbrances: that they will make such further assurant~es to petfect tbe fee slmPle tida to said land in the Association as may reasonably bc required; and that they do hereby ftil,ly warrant the title to said land and will defend the same against the la~vful claims of aI1 persons whomsoever, PROVIDED AL~'VA1S thut if the rlortgagors shall well and truly pay unt~ the Association, the indebtedness evidenced by that certain promissory note, of even date betewitb, mada by the ~iortgagors and payable to the As~sociation, in the principal s~,m oE _SE~lEI1T_TH~JUSAND C?NE HLINDRED TWEI~ITY-FIVE AND N4_/li~A~~s~a 7, ~25. 00 ~vhich note, together K~th interest thereon :u therein sPecified, is p:iyable in monthly installments ofEIGHTY-FIVE AND 51./100ths- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - . vollars (3. $5. 5 ~ . _ October 14 19?2 .day of each month c~mmencing with-- which payments on ihe..._.. .14th :ve to lx~ applied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, oomply with and abide by each and every the stipulations, agreements, conditions and oovenants of said pmmiaory note and this mortgage, And, including any advances made by the Association to the Mortgagors, or their succeswrs in tidC, for any purpo6e, at any time before the mlease and cancellation of this mortgage, but at no time shall this mortgage secure advances on account of said original note together with such additional advances in a sum in excess o6E~tElY._TH4I~SA_~LD_QTTE_HUNDRED TWENTY_-FIVE _AND_ NO_Il00ths-"--------- --~----...DoAars (a--3,.12~._4U------), plus any advances necessary to protect the security and costs, then this deed and the estate hereby created shall cease and be null and void. AND THE 11iORTGAGORS DO hereby cuvenaut and agree: 1. To pay all and singular the principal and intecest and other sums of money payable by virtue of said promissory note :~nd this mortgage, or either. promptly on the days respectively ihe same severally come due. 2. To pay all and singular the taaes, assessments, levies, liabilities, obligations and incumbrances of every natuce and 13nd now on said described property, or that hereafter may be imposed, suffered, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon thu Mortgage, or the indebtedr?ess secured hereby, cach and every, when due and payable, according to law, before they become delinquent, and before any iMerest attaches or any penalty is incurred; and insofar as anv thereof is of record the same s1~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) shall be placed in the hands of said Association as ~iortgagee within ten days next after pa~Rnent; 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 ~vithout waiving or affecting any option, lien, equity or right under or by virtue of this !liortgage, and the full amount of each and every such payment shall be immediately due andpa yabie and shall bear interest from the date thereof until paid at the rate stated in the note serurecl hereby and together with such inter- est shall be secured by the lien of ihis Mortgage. 3. To keep the buildings and all equipment and peisonal property now or hereafter on said premisea mvered by this mortgage. insured in a sum equal to at least the amount ot the mortgage, or an amount su[ficient to mmplr with any eo-insurance require- ment mvering the same under the laws ot the State of Florida, covering loas from both [ire and stotm, makiug the loss under said policies, each and every. payable to the Association, as mortgagee, a~ its interest may appear, and said insurance shall be in a good and responsible insurance company satis[actory to said Association, and written by a responsible local agent satisfactory to said Asao- ciation; and the policy or policies shall bear a standard mongage claux without rnntribution. and. iE the original prindpal amount ~ ~ o[ the mongage u Fifty Thousand and no/ 100 Dollars (~50.000.00) or in encess thereof, shall be held by the Association, and, in ~ i the event any sum of money becomes payable under such policy or policies, the Association shall have the option to receive and apply i the same on account of che indebtedness hereby secured. or to permit the mongagon to receive and use it, or any part thereof. for ~ ~ ocher purposes, without themby waiving or impairing any equity, lien, or right under and by vinue ot this mortgage, and may i place and pay for such insurance, or any part thereo[. without waiving or a[Eecting its option to foreclose, or any right heteunder, and the tull amount oE each and e~cery such payment shall be immediately due and payable and shall bear interest from the date thereof until paid at the rate stated in the note secured hetebr and together with su~h interest shall be secured by the lien of this , ~fortgage. 4. To permit, commit, or suffer no waste, impairment or deterioration of said 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 :lssociation may demand the immediate repair of said buildings or the immediate repayment of the debt hereby socured, and the failure oE the mortgagors to rnmply with said demand of the Association for a period of Thirty (30) days, shall constitute a breach of this mortgage, and, at ihe option of ihe Association, immediately mature the entire amount of principal and interest hereby secured, and the ~ Association, immediately and without notice, may institute proceedin;s to foreclose this mortgage and applv for the appointment of a Receiver, as hereinafter prorided. 5. This mortgage contract provides for additional advances which may be made at the option of the association and secured by this modgage, and it ~is agreed that in the event of such advances the amount may be added to the mortgage debt and shall incre~ese the unpaid balance 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 note and contract ~•ere executed and delivered. An additional advance agreement may be given and accepted for such advance and provision ma} be made for different monthly payments and a different interest rate and other express modifications of the contract, but in all other respecLc i4 ihis contr.iM shall remain in full force and effect as to said indebtedness, including all advances. ~ 3 ~ 6. If any of the sums of money herein referred to be not prompdy and fully paid within Thirty (30) days next after ~ ~ the same severally come due and payable, or if each and every the stipulations, ao eement, conditions, and covenants of said i ~ promissory note and this deed, or either, aze not duly performed, rnmplied 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 terms of this mortgage shall become due and pa~~ble forthwith or thcreafter at the option of the Association, as fully and completely as if said aggregate 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 ~~arch 15th, of each year, tax receipts evidencing the payment of all la~+~- fully imp~s~ taxes for the prececling calendar year; to deliver to the Association receipts evidencing the payment of all liens for pub 'Lc improvements w~thin ninety (90) days after the same shall become due and payable, and to pay or discharge within ninety (90) days after due date, any and all govemmental levies that may be made on ihe mortgaged property, on this mortgage nr note, or in any other way msulting from the mortgage indebtedness secured by this mortgage. , $UOK~~ P~f~~~ ~ ~ -