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at a!1 times Peaceably and quiedy to enter upon, hold, occupy and enjoy sa~d l.~nd; that sud land 'u free from aQ encumbrances; '
that they will make such further assurences to perfect the fea stmple title to said land in the Asso~ciation as may reasonably be -
e
required; and that they do hereby fully warrant tha title to ssid lnnd und will defend the same against the la~vful claims of '
aU pcrsons ~vhomsoever, i
PROVIDED AL~VAYS that if the I~tortgagon shal) wel) und truly pay unto the Association, the indebteclness eviclence~
.L-• ~-~•••:.n....~ ...,re_ of even date berewith, made by the 111origagors 1nd ~};?ble to the A~ociatio~, in the ixincipat '
L:.: r -
s,u„ THII~,TY_NIIVE THOUSAND TWO HUNDRED AND NO/100ths- ~~~z~ ~a 39, 200.00
w•hich note~ together with interest thereon as therein specified, is payuble in munthly i~stallments of interest payments -
due on January 4, 1974, February 4,1974, March 4,19?4, April 4,19?4, May 4,19?4,
- ~ _ - - - - - - - - - -
June 4,1974 and then THREE HUNDRED THIRTY FTVE AND 71/100ths-------------
- - Dollars _ 335. ?1 ;
on the. • - JuI 4,19?4 `
4th.- day of each month c~mmencmg ~vrth --Y----- -----------------------------.---------------.which paymenis
.ue to be :~pplied, first to interest, and the batance to principal, .until said indebte~ness is paid in fitll, and shall perform, eomply
~vith and abide by each and every the stipulations, agreements, conditions und covenants of said promissory note and thLs
mortgage, And, including any advances made by the Assoeiation to the Modgagors, or their suocessors in tides. for any purpose,
at anv time before the rPlease and cancellation of this mortgage, but at no time shall this mortgage secure advances on account
THIRTY NtI~TE THOUSAND
of ssid original note together with such additional advances in a sum in eacess of__._____________________________.___.___~___`_________`_______
TWO HUNDRED_AND.NO/100ths-_--_---_------_- ~1~~ ~=__39~ 200._00,_~~ ~y advances necessarv
to protect the seciuity and costs, then this cieed-and the estate hereby cmated shall cease and be null and void.
AND THE 11iORTGAGORS DO hereby cvvenant and agree:
1. To pay all and singular the principal and interest and other sums of money payable by virtue of said promissory note
:~nd this mortgage, or either, promptty on the days respeMively the same severally eome due.
2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbranc~es of every nature and kind
now on said describeci property, or that hereaker may be imposed, sliffered, placed, levied, or assessed ihereon, or that hereafter
may be levied or assessed upon this ~iortgage, or the indebtedness securecl hereby, cach and every, when due and payable,
acconling to law, before they become delinquent, and before any interest attaches or anv penalty is incurred; and inwfar .u
•~~-~+f of ~rrnrd the same slkzll be prompdy satisfied and dischargecl of re~ord and the original official document (such
a..~ ~
as, for instance, the tax receipt or the satisfaction paper oiticiaiiy euuui,,,~ or certified) shall be placed in the hands of said
:~ssociateon as ~fortgagee «~thin ten da~s next after Ira~~ment; and in the event that any thereof is not paid, satisfieci and d'ucharged,
said Association may at any time pay the same or any paut thereof ~~~thout ~vaiving or affecting any option, lien, equih~ or right i
iinder or by virtue of tNis ~iartgsge, and the fult amount of each and eve~y such payment shall be immeciiately dae andpa
yable
and shall bear interest from the date thereof until paid at the rate stated in the noie secured hereb~• and together with such inter-
est sha11 be secured by the lien of this ;~Iortgage. ~
3. To keep the buildings and all equipment a~id penorial property now or hereafcer on said pnmises covered bp thi~ tnongage.
i~uured in a sum equal to at least the amount o[ the mortgage. or an amount sufEicient to rnmpty with any co-insurance require-
ment covering the sariie under the lawa of the State of Florida. co~~ering loss [rom bath tire and storan, making the loas under said
poticies, each a~~d eeery, payable to the Association, as mortgagee, as its interese may appear, and said insunnce shall be in a goal
and responsible insurance company satis[actory to said Association, and Nriecen by a responsible loul agent satis[actory to said Asso-
ciation; and the policy or policies shall bear a standard mortgage clause without rnntribution, and, if the original principa) amount
ot the mortqage is Fi[ty Thousand and no/ 100 Dollan (;50.000.00) or in excess thereof, shall be held by the Association, and, in
the e~~enc any sum oE money becomes payable under such policy or policies, the Association shall have the option to receive and apply
che same on account ot the indebtedness hemby secured, or to permit the mortgagois to receive and use it, or any patt thereof. for
other purposes, without thereby wai~~ing or impairing any equicy, lien, or right under and by virtue o[ this mortgage, ared may
place and pay Eor such insurance, or any pare chereof, withoat waia•ing or a[[ecting its option to foredoae, or any right hereunder~
and the [ull amouot oi each and eti•ery such payment shall be immediately due and payable and shall bear interest from the date
ehereot until paid at the rate seated in the note secured hereby and together with such interest shall be secured by the lien of tl~.is
~fortgage. -
4. To permit, commit, or suEfer no w:ute, impairment or deterioration of s;iid proped~•, or :;ny part thereof, and upon
the failure of thc mortgagors to keep the buildings on said pmperty in good condition of repair, the Association may demand the
immediate repair of said bu;ldings or the immediate repayment of the debt hcreby secureci, and the failure of the mortgagors
~ to rnmplV ~~zth said demand of the ,~ssociation for a period of Thirty (30) days, shall constitute a breach of this mortgage,
` and, at thc option of the Association, immediately mature the en6re amount of principal and interest hereby secured, and the
:lssociation, immediately and without notice, may institute proceeclin;s to foreclose this mortgage anc~ appl~• for the appoinhnent
of a Receiver, as hereinaker provideci. ,
' S. This mortgage contract provides for additional advances ~rhich may be made at the option of the assoeiation and
` secured by this mortgage, and it is agreed that in the event of such acivances the amount may be addeci 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 indebtedness under all the terms of said note and this contract as fully as if a new such note and conUact «-ere executecl
and delivered. An additional advance agreement may be given and accepted for such advance and pmvision ma}• be made for
different monthlv pa}'~ents sncl a different interest rate and other express moclifieations of the eontraet, but in all other respeeta
ihis contr,ict shall remain in full force and effeM as to said indebteciness, inciuding all advances.
' 8. If any of the sums of muney herein referred to be not promptly and fu11y paid w~thin 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, ihe aggregate sum mentioaed
' in said promissory note and any other amount or amo~nts added to t}?e martgage indebtedness under the terms of this awrtgage
shall become due and pa~~sble forthwith or thereafter 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 contrary not-
~vithstanding.
7. To deli~~er to the Association, on or before ~tarch 17th, of each }•ear, tax receipts evidencing the payment of all la~r-
> fully im~osed taxes for the prececling calendar year; to deliver to the Association receipts evideneing the payment of aIl liens
; for pubfic improvements within ninety (90) days after the same shall l~ecome due and payable, and to pay or discharge within
ninety (90) da~s after due date, an}• and all governmental levies that may be made on the mortgaged pre~pert,y, on this mortgage
or note, or in any other w•ay resulting fmm the mortgage indebtedne~ securecl by this mortga~e.
E~i~~~ f'I1fIE ~*1 s3V
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