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Home My WebLink About2614 :~t aU Nmes pe~acrabty and quietly to enter upon, hold, otrupy and enjoy said l:~ud; that said lund is (~cr frum ap eucumbrances; t1~at tleey will make such further assurances M perfect the fee simple title to said land in the Associution as mav reasonably lx> rec~uirecl; and that they do hereby fully warrant the tide to said land and wili defend the sume ag:iinst the lu~.~ful elaims nE .~II lx rsons ~rhomscever, PRO\'1DED AL~VAYS that iF the \lortgu~urs sh~?11 ~vell and tn?ly p:?~ unto the A~~~xi:?tion, the inclebt~Ylnrss eti~ideucecl ~;v that certain promissory nole. of even date herewith, made by ihe ~lortgagors nnd p:n•able to the Asaxiation. in !h~ principal <um of E~G~~Y THQUSAND AND NO/ 100ths-----------------------1~~~:~~ ~s 80, 000, 00 ~~•hich note, together ~~~th interest thereon as themin srecified, is p:n:~blc in monthly installments of SIX HUNDRED THiRTY_AND ??/100ths----------------------------------------------------------- . , _ - Doliars (3 530. 77 on the 9th day of each month c~mmencing .~ch March. 9~__..~,~7_3___ which payments are to be :ipplied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, comply ~.•ith and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and thu ~nortgage, And, including any advances made by the Association to the 4lortgagors, or their successors in tide, for any purpose, at any time before the mlease and canceqation of this mortgage, but at no time shall this mortgage secure advances on account oE s:iid original note together ~vith such additional advances in a sum in et~~ of____FIGHTY_THQIISAND..E~NI~_____. _ NO~1_OOthS----.----.-_--_-_--_-_----_------.-_---_-_----.-pollars (a 80,_000.00 plus any advances necessan~ to protect the security and costs, then this deecl and the estate hereby cmatecl shall cease and be null and void. ~ AND THE \iOR'fGACORS DO hereby cvvenant and agree; 1. To pay all and singular the principal and interest and other sums of money payable by viriue of said promissorv notc .~ncl this mortgage, or either, prompdy on the days respectively the same severally come due. 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind no~~~ on said described property, or that hereafter may be imposed, suffered, placecl, levied, or :usessed thereon, or that hereafter may be levied or assessed upon this ;ltortgage, or the indebtedness secured hereb~•, cach and every, when due and payablc. .,cconiing to ta~v, before they become delinquent, and before any intetest attaches or any penalty is incurred; and insofar as .iny thereof is of record the same shall be promptly satisfied and discharged of record and the original officiai document (such is, for instance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placrd in the hands of said Assoriation as ~iortgagee within ten davs next after Iraycnent; and in the event that any thereaf is not paid, satisfieci and discharged, ~~~id ~,~s~:a;;;,r. :..:.J u:• *:~;:s C~~~ !hP ~ame nr any nart thereof ~vithout waiving or affectin~ anv option, lien, equih~ or right under or by ~rirtue of this •Vortgage, and the full amount of each and every sach paymeot sha11 be immediately due andpa yable .ind shall bear interest from the date thereof until paid at the rate stated in the note secureci hereb~• and toGether ~vith sach ir~ter- est shali be securecl by the lien of this I1lortgage. ' 3. To keep the buildings and all equipment and personal property now or hereafter on said premises covered by thu mortgage. insured in a sum eyual to at least che amount of the mongage, or an amount sufficient to rnmply with any co-insurance require- ment covering the same under the laws of che S[ace of Florida, covering loss trom both fire and storm, making the loss under said E»licies, each and e~•ery, payable to the Association, as mortgagee, a~ its interest may appear, and said insurance shall be in a good and responsible insurance company satisfactory to said Association, and written by a responsible local agent satislactory to said Asso- ciation: and the policy or policies shall bear a standard mortgage clause without contribution, and, i[ the original principal amount o[ che mongage is Fi[ty Z'housand and no/ 100 I)ollars (550,000.00) or in excess chereof, shall be held by the Association, and, in che e~~ent any sum of money becomes payable under such policy or policies, the Association shall have the option to receive and applr ei~e same on accoune o( the indebcedness hereby secured, or to permit the ~ongagors to receive and use it, or any pan thereof, for uther purpoaes, without thereby wai~~in~ or impairing any equity, lien, or right under and by a•irtue of this mortgage, and may place and pay tor such insurance, or any part thereof, without wai~~inR or afiecti~g its option to foreclose, or any right heteunder, and the full amount of each and every such payment shall be immecliately due and payable and shall bear intetest fmm the date chereof until paid at the rate staced in ehe note secured hereby and togeeher with such interest shall be secured by the lien oi this ~f ortgage. 4. To permit, commit, or suffer no u~aste, impairment or deterioration of wid propert~•, or :in,y part thereof, and upon the failure of the mortgaGors to keep the buildings on said pmpert}• in good condition of repair, the Association may demand the immediate re~ir of said bu:ldings or the immediate mpayment of the debt herebv securecl, and the failure of the mortgagors t~~ comply ~vith said demand oE the Association for a period of Thirty (30) days, shall constitute a breach of this mortgage, and, at the option of the Association, immediatPlv mature the entire amount of principa) and interest herebv secured, and the lssociation, immecliately and ~~tithout notice, may institute proceedinRs t~ foreclose this mortga~e and appir for the ap~intment nf a Recei~•er, as hereinafter provideri. S. This mortgage contract provides for additional advances ~ehich may be made at the option of the association ancl tecured by thic mortgage, and it is agreed that in the event of sueh advances the amount may be addeci to the mortgage debt :+nd shall increase the unpaid balance of the note herebv secured by the amount of such advanre and shall be a part of said rTOte indebtedness ztnder all the terms of said note and ~this contract as fully as if a new such note and contract .+~ere executecl :~nd deliverecl. An additional advance agreement ma~• be gi~~en and accepted for such advance and pro~~is:on may be made for clifferent monthh~ parments and a different interest rate and other express modifications of the contract, but in ail ot}.er respects ~his contract shaii remain in full force and cffect as to said indebteclness, including al) advances, 6. If any of the sums of money herein referred to be not promptly and fuliv paid w•ithin Thirt}- (30) days next after the same severally rnme 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, the aggregate sum mentionecl in said promissory note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgagc shall become dae and pa~•able forthwith or thcreafter at the option of the Association, as fully and completely as if said ag~regate sum oE money was originally stipulated to be paid on such dav, an~~thing in said promissory note or herein to the contrarv not- ~vithstanding. " " • 7. To deliver to the As.sociation, on or before :1larch l~th, oE each y~e.ir, tax receipts evidencing the payment of all la~~•- fully imposed taxes fnr the preceding calendar year; to deliver to the Association receipts evidencing the payment of all liens for public improvements Hithin ninety (90) days after the same shall become d~e and payable, and to pay or discharge K~thin ninety (90) da~~s after due date, any and all govemmental levies that may be made on the mortgaQecl ~roperty, or~ 1!~is mortga~+e ~r note, or in any other way resulting from the mortgage indebtedness secured bv this mortQa~;t~. 9~k~ ?'~CE ~~~1 F v_ . . . ~ _ ;