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Home My WebLink About0178 ~ 4 at all times peaceably and quiedy to enter upon, hold, occupy und enjoy said l:~nd; that said land ~c frce from all encumbru?ces; chat they will make such fu~?er auurances to Pecfe~ ~1O F°° ~Ple lide to said laad in the Ass~ciation as may reasonably bu requirecl; and that thay do hereby full~y warrant the tide to said land and ~vill deEend the same against the la~vful claims ot all perso~u whomsoever, _ PROVIDED ALN'AYS that if the 1lfortgagurs shaU weU and truly pay unto tl~e Association, the uidebtedness evidenced by that certain promissory note, of even date hetewith, made bv the Mortgagors and jz+yahle to the Association, in the principal TWENTY EIGHT THOUSAND FNE HUNDRED AND NO/100 ~s 28, 500.00 sum of _ . _ - _ _ . - - interest payments ~vhich note. together with interest thereon as therein s~ecified, is payable in ~ monthly installments of - - , 1 1 AA9 ~v~;,~~h~r t 973t December 1,1973, January 1,19?4, : l111@ OIl l`~(.tl3~iC1 1~ a.i ~ v~ . : . _ _ . . - - . _ _ _ _ _ February 1,1974, March 1,1974 and then 1'WO HUNDRED TWENTY NINE AND 49/100 ' 229. 49 thS--------------------------------------------------------- Dollars~s-. • - - - ~ : - - - . April 1,1974 .__.which vmencs . _ on the 1 St day of e~ch maath commencing mth.- - - - - Pa. - . ~ are to be appLed, fust to interest, and the balance to prindpal, until said indebtedness is paid in full, and shall pezforno, oomply ~vith and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and this mortgage, Mci, including any advances made by the Association to ihe Mortgagors, or their successors in tidC, for any purpose, at anv time before the rekase and rancellation of this mortgage, but at no time shall this mortgage secure advances on account of said original note together ~vith such additional advances in a sum in eacess of__ TWENTY EIGHT THOUSAND FIVE HUNDRED AND NO/100ths------------ ~~~a~ ~s 28,~.500.00_~, p~~ any advances necessary ` - - to protect the security and costs, then this deed and the estate hereby created shall cease and be nup and void. AND THE 11fORTGAGORS DO hereby cvvenant and agree: 1. To pay all and singular the principa1 and interest and other sums of money payable by virtue of said promissory note :u~d this mortgage, or either, prompNy on the days respectively the same severally come due. 2. To pay all and singular the taxes, asseumer?ts, levies, liabilities, obligations and incumbrances of every nature and ldnd now on said described property, or that hereafter may be imposed, suffered, placed, levied, or assessed thereon, or that hereafter may be le~~ied or assessed upon this ;liortgage, or the indebtedness securecl hereby, cach and every, when due and payable, :?ccorcluig to law, before they become delinquent, and before any interest attaches or ~nv penalty is incurred; and insofar au - :~ny thereof is of record the same shall be promptly satisfied and dischargecl of record and the ori~nal official document (such ~s, for uutance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said ~ssociation as ~tortgagee within ten days next aker ~rayment; and in the event~hat any thereof is not paid, satisfied and diSCharged, said Association muy at any time pay the same or any part thereof ~vithout waiving or affecting any option, lien, equity or right iinder or by virtue of this Jiortgage, and the full amount of each and every such payment shall be immediately due andpa yable :~nd shall bear interest from the date thereoE until paid at the rate stated in the note secorecl hereb~• and together ~vith such inter- Pst shall be secured by the lien oE ihis biortgage. 3. To keep the buildings and all equipment and pecsonal ptoperty now or hereafter on uid premises covered by this mortgage. insured in a sum equal to at least the amount of the mongage, or an amount sufficient to mmply with any co-insurance tequire- ment covering the same under the laws of the State ot Florida. covering loss irom both fire and storm, making the lass under aaid policies, each and every, payable to the Association. as mortgagee, as iu interest may appear, and said insurance shall be in a good ana responsioie i~uurancr co~up.ur M.u:a..~~~ tu ~.+~ci ~~iation, and written br a responsible local agent satis[actory to said Asso- t ciation: and the policy or policies shall bear a standard mortgage dause without contribution, and, i[ the original principal amount f ot the mortgage is Fifcy Thousand and no/100 Dollars (s50,000.00) or in excess thereof, shall be held by the Assotiation. and, in ~ che event any sum of money becomes payable uuder such policy or policies, the Associaeion shall have the option to receive and apply E ehe same on acoount ot ehe indebtedness her~by secured, or to permit the mongagors to receive and ~ue it. or any part thereof, for ~ other purpcues, without thereby waiving or impairing any equity, lien, or right under and by virtue of this mongage, and may i place and pay for such insurance, or any part thereoi, without waiving or affecting its option to [oreclose, or any tight hereunder, F ~ and the [ull amount of each and every such payment shall be immecliately due and payable and shall bear interest from the date g eheteof until paid at the rate stated in the note secured hemby and eogether with such interest shall be secured bv the lien of this g Jiortgage. " 4. To permit, commit, or suffer no waste, impairment or detcrioration of said propert~-, or .iny part thereof, and upon : ~ the failuro of ihe mortgagors to keep the buildings on said property in good condition of repair, the Association may demand the f immediate repair of said bu;ldings or the immediate repayment of the debt hereUy secured, and the failure of the mortgagors ~ to comply ~vith said demand of the Association for a period of Thirty (30} days, shall constitute a breach of this mort gage, ~ and, at the option of the Association, immedi.ltely mature the entire amount of princijfal and interest hereby secured, and the ~ Association, immediately and without notice, may institute proceeclinos to foreclose this mortgage and apph• for the appomtment ~ of a Receiver, as hereinaEter pmvided. ~ 5. This mortgage contract provides for additiunal advanccs w•hich may be macle at the option. of the association and secured by this mortgage, and it is agreed that in the event oE such ad~•ances the a.-nount may be added to the mortgage debt ~ and shall increase the unpaid balance of the note hereby secured by the amount of such advance and shall be a part of said - ~ note indeUtedness under all the terms of said note and this contract as fully as if a new such note and contract ~+•ere executed :~nd delivered. An additional advance a~reement may be given and accepted for such advance and pmvision may be made for ' ~ifferent monthh• payments and a different interest rate and other express modifications of the contract, but in all other respects ~ ihis contr:zet shall remain in full force and cffect as to said indebteciness, including all advances. ; 6. If anv of the sams of muney herein referred to be nol prompdy and fully paid ~vithin Thirty (30) days next after = - the same sever.~lly come due and payable, or if each and every the stipulations, agreement, conditions, and covenants of said promi.uory note and this deed, or either, aze not duly performed, complied with and abided by, the aggregate sum mentioned in said promissory note and anv other amount or amounts added to the mortgage indebtedness under ihe terms of this mortgage ~ shall became due and pa~~able forthwith or thereafter at the option of the Association, as fully and rnmpletely as if said aggregate ~ sum of money was originaUy stipulated to be paid on such dav, anything in said prom~ssory note or herein to the contrarv not- _ ~ .vit}utanding. ; 7. To deliver to the Association, on or before \~arch 13th, of each ~•ear, tax receipts evidencing the payment of all law-- _ fu11y imp~s~ taxes for the preceding calend:?r vear; to deliver to the Association receipts evidencing the payment of all liens for pub il'c improvements w~thin ninety (90) days after the same shall hecome due and payable, and to pay or d'ucharge within ninety (90) da~~s after dae date, any and all governmental 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 bv this mortgage. ~ • ~ BOCK O F.1~E ~7H ~ - ~ _ ~ _ _ . . _ r =A