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Home My WebLink About2703 . : ~ at all timcs peaceably and quiedy to eater upon, hold, occupy and enjoy said Irad; ttwt suid laad is Eree ftom a!) cyicumbrnnces; that tbey wiU nuke su~ furtha ass~aar~aet to perfed ths fes simpb titb w said laad in the Auoci~tion as may reasonably be requ~nd, aud that they do }~er~by hilly wariant tLs title to said land and will defend the sume against the lawfui cluims af aU persa?= whomsoever. PROVlDED ALWAYS that if the 1?lortgagon shall weU and truly pay unto the Assoc:iation, t6e indebtedness evidc~oed by that certain promitsory note, of evea date haewith, mads by the Mortgagors and ~wable to the Associatior?, ia thc principal FIFTEEN THOUSAND AND N O/100----------------------- 15, 000. 00 sum of - - - - - - - - _ _ _ . Dollars (i which note~ together with interest thereon as therein sPecified, is payable in monthly installments of ONE HUNDRED _ TWENTY AND 84/100----------------------------------------------------------- (a - 120 84 ~ ' . - - - - . ' , on the.--2~?-------.,_day oE esch month comrnencing with-- --April_20, 19?3----------------- - ' P~Ym~ ----.whicL ts are to be applied, first to interest, and the balance to principal, until said indebtedness is paid 'm fuD, and shall perform, oomoply? with and abide by each and every the stipu1ahons, agreements, conditions and oovenants of said promic~ory note and t~is mortSaBe, Md, including any advances made by the Association to the Mortgagors, or their suc~cessors in tit1C, for anY P~• at any time before the release and caneellati~ of this mortgage, but at no time shall th}s mortgage secure advances on account FIFTEEN THOUSAND AND oE said origiaal note together with such additional advances in u sum in exoess of.~_--_---------------_---.___________~~.~----~------- NO/100---------------------------_-_------ ~;_.15~ 000._00---), plus any advances neces~ry to protect the security and costs, then tbis deed and the estate hereby created shall cease and be null and void. ~ AND THE MOR1'GAGORS DO hereby cvvenant and agree: l. To pay aIl and smgu2ar ihe grinc~'pal and interest and other sums of money payable by virtue of said promissory note and this mortgage, or either, promptly on tl~e days respeetively the same severally oome due. 2. To pay all and s6~gular the tazes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind now on said described property, ~ that hereafter may be im~, suffered, placed, levied, or assessed therean, or that hereafter may be levied or assessed upoa this Mortgage, or t6e ind ess secuted hereby, cach and ~every, when due and payable, according to 1aw. beEore tbey become delinquent, and before any interest attaches or anype nalty ic incumed; and insofaz us any thereof is of record the same shall be promptly satidied and discharged of record and the original official dorument (such ss, for instance, the taz receipt or the ratisfaction paper officially endorsed or certified) shaIl be piaced in the hands of said Association as Mortgagee within ten days next after payment; and in the event that any thereof is not paid, satisficd and discharged, said A,SSOCiation may at any time pay the same or any part thereof without waiving or affecting any option, lien, equity or right . under or by virtue of this !?iortgage, and the full amount of each and every such payment shall be immediately due andpa yable and shall bear interest from the date thereof until paid at ihe rate stated in the note secured hereb} and together with such inter- est shaU be secured by the lien oE ihis Mortgage. 3. To keep the buildings and all equipment and petsonal property now or herea[ter on ~id premises mvered by this mortgagt, insured in a sum equil to at leaat the amount of the mortgage. or an amount suffiaent to complr with any co-insurance require- ment wrering the same under tht laws of the Stace oE Florida, aovering loss irom both Eire and storm, making the loss under taid policies, each and every. payable to the Association, as mortgagee. as its interest may appear. and said insun~ee shal! be in a g~ood and raponsible imunnce company satuEactory to said Aswciation. and written by a erspontible local agent satisfattory to said Asso- ciation; and the policr or policia shall bear a standard moxtgage clause without oontributioa, and. if the original principal amount of the mortgage is Fi(ty "Thousand and no/ 100 Dollan (f 50,000.00) or in accea thereof, s6a11 be held br the Association. and. in the event any sum of monty becoma parable under such polic~r or policia, the Association a6a1! havt the option to receive and apply the ume on account ot the indebtedness hereby xcured, or to permit che mortgagors to raeive and use it, or anr part tbereof, for other purposes, without thereby waiving or impairing anr equity, lien, or rig6t undet and by virtue oE this mottgage. aad may place and pay for such insurance. or any part thereo[, without waiving or af[ecting its option to forecloae. or any rig6t hereunder. and the fuU amount of each and every such payment shall be immediately due and payable aad shall bear interat fnnm the date chereof until paid at the nee stated in che noce securcd heneby and togrther with such intemt shall be secured by the liea of this Mortgagr. To permit, commit, or suffer no waste, impairment or deterioration of said property, or .~ny part thereof, and upon the failure of the mortgagon to keep ihe buildings an said property in good condition of repair, the Association may demand the immediate repair of said bu;ldings or the immediate repayment of the debt hereby secured, and the failure oE the modgagors to rnmply with said demantl of the Association for a period of Ti~?irty (30) days, shatl constitate a breach of this mortgage, and, at the option of t~e Astociatian, immediately matare the entire amonnt of principel and interest hereby secared, and the Association, immediately and without notice, may institute proceedinos to foreclose this mortgage and applv for the appoiniment of a Receiver, as bereinafter provided. 5. 'I'his mortgage cantract provides for additional advances whieh may be made at the option of the association and secured by this nwrtgage, and it is ag~eed that in the eva?t of such advances the amount may be added to the mortgage debt and shail increaae t6e un~aid balanoe of the note hereby secured by the amount of sach advance and sball be a pazt of said note indebtedness undet atl the terms of said note and this contraM az fully as if a new such note and oontraM v?•ere executed and delivered. M additional advance agreement may be given and accepted Eor such advance and provision may be made for ciiffereni monthly payments and a different interest rate and other express modifications of tbe contracc, but in alt other respects ihis contrad shall remain in futl force and effect as to said indebtedness, including all advances. 8. If any of the sums of maney herein referred to be not promptly and fully paid within Thirty (30) days nezt after the same severalty oome due and payable, or if each and every the stipulations, ao eement, conditions, and covenants of said pmmissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate svm mentioaed in said promissory note and any other amount or amounts added to tbe mortgage indebtedness under the teims of this mortgage sball baoome due and" pay3bte forthwith or thcreafter at the option of the Association, as fully and c~ompletely as if said aggregate sum~nnwoey was originally stipulated to be paid ori such day, anything in said pTOmissory note or herein to the contrary not- & 7. To deliver to the Association, on or before ~farch 15th, of each ye~ar, tax receipts evideocing the payment of all 1aN•- fully un~ taxes for the prccecling calendar year; to deliver to the Association receipts evidencing the paytnent of all liens for pub ~nprovements witbin ninety (80) days after the same shatl become due and payable, and to pay or dischar~ge within ninety (90) davs after due date, any and alt govemmeatal kvies that may be made on ihe mortgaged property, on this mortgage .x notr, or in any other w~y msultinR from the mortgage indebtedness secured by this moirtRa~e. ~oax zsz P~ 2704 ~ _ _ . ~ ~ '~r~' ~f . e _