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Home My WebLink About1343 , r . ~ ~ ~ : . . at all timesp raceably and quiedy to eater upo~, hold, ocrupy and cnjoy satd l.i~d; that said land is fre8 from all encumbrances; that they wiD make such furt~et ass~ M peefe~t the fee simple tide to said land in the Associstion as may re:?sonably bc required; and that they do hereby fully waaant the titla to said land und will defend the s:ime Agai~ut the la~vfui claims oi all persons whomsoever, PROVIDED ALIVAYS that if thc rlortgagors shull ~vell and t?vly pny unto the Association, thc indebtedness evide»ced by that certain prumissory note. of evea date hetewith, made bv the'.liortgagors and Ex?}ahle to the As~sociation, in the princi~t SEVENTEEN THOUSAND NINE HUNDRED AND NO/100ths--~~~~~ ~a 17, 900, 00 sum of - . . - - - - _ _ _ _ which note~ together with interest thereon as therein sPecified, is ~yable in monthly instal)ments of ONE HUNDRED SIXTY-ONE AND Ob/100ths--------------------------------------------------- . Doltars (s . _161. O6 l, - - - - - - - ~ - on the .._il~_--day of each month commencing ~vith January il, 1974 - - --wbich nts are to be .~pptied, fint to interest, and the balance to principal. until said indebtedness is paid in ftill, and shall perfomn, eomp!y with and abide by each and every the stipulations, agreements, conditions and covenants of said lx~omissory note and this morigage, And, including any advances made by the Association to ihe Morigagors, or-their sut~cessors in tidr, for any purpose, at any time before the mlease and cancellation oE this mortgage, but at no time shall.ihis mortgage secure advances on account of said original note together ~vith such udditional advances in a sum in excess of_____ SEVENTEEN THOUSAND _ . _ - - NINE HUNDRED AND NO/100ths-------- 17, 900.00 Dollars (S-- plus any advances necessan - - to protect ~ihe security and costs, then this deed and the estate hereby created shall cease and be null and void. AND THE ~ibRTGAGORS DO hereby cvvenant and agree: 1, To pay all and singular the principal and interest and other sums of money payable by ~zrtue Qf said promissory note :ind this mortgage, or either, promptly on the days respeMively the same severally come due. 2. To pay all and singular the iaxes, assessments, levies, liabilities, obligatians and incumbrances of every nature and kind no~v on said described property, or that h.ereafter inay be imposed, suffered, placed, levied, or assesseci thereon, or that hereafter may be levied or assessed upoa this Tiortgage, or the indebte~lness sec~recl hereby, each and e~ery, ~vhen due and payable, according to law, before they become delinquent, and before any interest attaches ~r anv penalty iq inrurred; and insofar au .iny thereof is of record the same shall be promptly satisfied and discharged of record and the original official document (such as, for instanee, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Associatioa as ~tortgagee wzthin ten days next after payment; 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 without waiving or affecting any ogtion, lien, equity or right iinder or b~• virtue of this ~tortgage, and the full amuunt of each and every such payment shall be immecliately due andpa yable and shall bear interest from the date thereof until paid at the rate statecl in the note secured herebv :+nd together ~vith such inter- est shall be secured by the lien of lhis biortgage. ~ 3. "To keep the buildings and all equipment and personal property now or hereaEter on said premises rnvered by this mortgage, i~uured in a sum equal to at least the amount oi che mortgage, ot an amou~it sui[icient to mmply with any co-insurance require- ment covering the same under the laws of the State of Florida, rnrering loss fmm both fire and storm, making the loss under said policies, each and every. payable eo the Association, as mortgagee, as iu interesc may appear, and said insurance shall be in a good and responsible insurance company satisfactory to said Association, and written by a r~ponsible local agent satistactory to said Assa ' ciation; and the policy or policies shalt bear a standard mongage clause withont contribution, and. if the original principal amount of the mortgage is Fifty Thousand and no/100 lloUan {550.000•OU) or in excess thereof, ahall be held by the Association, and, in the event any sum of money becomes payable under such poliry ot policies. the Association shall have the option to receive and applr the same on account o[ che indebtedness hereby secured, or to permit che mortgagors to receive and use it, or any part thereof, f~~r other purposes, without thereby waiving or impairing any equity, lien. or right under and br virtue o[ this mortgage, and ~rzy place and pay tor such insurance, or any part thereot, without wai~•ing or atfecting its opcion to [orrcloae, or any right hereunder, and the Eull amount o[ each and every such payment shall be iramediately due and payable and shall bear interest from the date thereo[ until paid at the rate stated in the note secuted hemby and together with such intetest shall be secured by the lien of this ,tifortgage. i 4. To permit, commit, or suffer no waste, impainnent or detcrioration of said gropert~-, or any part thereof, and upon the failuro of the mortgagors to keep the biiildings on 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 of the mortgagors ; to eomply ~vith said demand of the Assocuztion for a pericxi of Thirty (30) days, shall constitute a breach of this mortgage, ; and, at the option of the Association, immediately mature il~e entire amaunt of principal and interest herehy secwed, and the ` Association, immediately and withoat notice, mav institute proceeclinRs to foreclose this mortgage and appl~• for the appointment of a Receiver, as hereinafter providecl. ~ 5. This tnortgage contract pmvides for addition~l advances ~~•hich may be made at the option of the associadon and E secured by this mortgage, and it is agreed that in the event of such advances the amount may be addecl to the mortgage debt ` and shall inerease 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 ~nc~ delivered. An additional advance agreement may be given and accepted for sach advance and provision ma}' be made for different monthlv paymentr and a different interest rate and other espress modifications of the eontract, but in ail other respects ' ; ihis contract shall remain in full force and effect as to said indebtedness, including all advances. 6. If any of the sums of muney herein referred to be not promptly and fully paid «~ithin Tiurty (30) days next after ; t the same severaIIy come due and payable, or if eaeh and every the stipuZations, agrcement, conditions, and covenants of saicl promissory note and this deed, or either, are not duly performed, complied with and abided by, ihe 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 pay~ble forthwith or thereaker at the option of the Association, as fuUy and rnmpletely as if said ag,~regate sum of money ~vas originally stipulated to be paid on such dav, any~thing in said promissory note or herein to the contrarv not- ~vithstanding. ~ " ' 7. To deliver to the Association, on or before liarch liih, of each }'e:~r, tax receipts evidencing the payment of all la«-- ~ fully imposed taxes for the preceding ealend:?r vear; to deliver to the Association receipts evidencing the payment of all liens . for public impmvements within ninety {90) clays after the same shall become due and payable, and to pay or discharge within i ninety (90) da~~s after due date, any and aIl governmental levies that may be made on the mortgaged pro~eriy, on this mortgage ~ or note, or in any ather way ms~ilting from the nu?rtgage indebtedness seeured hv this mortgagP. ~ ' ~ ~'~~r~z2 P~cE1342 _ - ~ , s : - _