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at aU times pe~aceably and quietly to enter upon, hold, ocrupy and ei~joy sa?d lund; that s:~id lund is free from bll encumbrances;
that they wil) make such further assurances bo perfeet tha fee simple title to said land in the Association as may reasonably lx:
required; and that they do hereby fully warrant the title to said land aad will defend the same agvnst the lawful claims of
all ~rsoiu ~~•humsoever,
PROVIDED AL~VAYS that if the rtortgagurs shall well u~d truly pay unto the ~ssociation, the indebteclness evidenoed
by that certain pmmissory note, of even date herewith~ made by !he !11o~tgagors nncl ~yable to the Association, in the principal
EIGHTEEN THOUSAND AND NO/100ths------------------- ~ 18 000.00
sum of ~ - - - - - - . _ - - _ _ . ~ Dollars S •
~vhich note, together ~~~th interest thereon :is themin specified, is paiyable in monthly installments oE ONE HLTNDRED
FIFTY ONE AND O6/IOOths---------------------------------------------------
. ~ . Uoltars (S_ . 151. O6
on the. _._.._.day of each month c~mmencing ~vith . MaI'Ch 8_t_1974__ _,.which payments `
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:ue to be :~pplied, first to interesi, and the balance to principal, until said iadebtedness is paid in fu11, and shall perform, comply
.vith and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and this
mortgage, And, including any advances made by the Association to ihe '.1lortgagors, or their successors i~ tidr, for any purj~ose,
at any time before the release and cancellarion of this mortgage, but at no time s}wll th~s mortgage secure advances on account
of s:iid original note together with such additional advances in a sum in excess of._____ EIGHTEEN THOUSAND AND '
NO/100ths------------------------------ 18,000.00
- . Dollars (3 . plus any advances necessarv
to protect the security and cosis, then this deed and the estate hemby created sh:~ll cease and be null and void. ~ ,
AND THE !~fORTGAGORS DO hereby euvenant and agree:
1. To pay all and singular the principal and interest and other sums of money payable by virtue of said promissory note ;
and ihis mortgage, or either, promptly on the days respectively the same severally~ come due. ;
2. To pay all and singular the taxes, assessments, levies, IiabiUties, obligations and incumbrances of every nature and kind
no~v on said described property, or that her~after may be imposed, sufEereci, placed, levied, or :usessed thereon, or that her~eafter
may be levied or assessed upon this \tortgage, or the indebtedness securecl hereby, cach and every, when due and payable,
accorcling to law, bcfore they become delir~quent, and before any interest attaches or unv penalty is incurred; and insofar :u
any therenf is of record the same sl~all be promptly satisFied and discharged of record and the original official document (such
as, for instance, the tax receipt or the satisfa~tion paper officially endorsed or certified) shali be pfaced in the hands of said
Association as '_1lortgagee ~vithin ten d~vs next after payment; and in the event that any thereof is not paid, satisfied and discharged, -
said Association may at any time pa~• ihe same or any part thereof ~~7thout waiving or affecting any option, lien, equity or right
under or by virtue of this \tortgage, and the full amount of each and every such payment shall be immecliately due andpa yable ~
and shall bear interest from the date thereoE until paid at the rate stated in the note securec~ hereb~• and together tivith such inter-
est shall be secured by the lien of this 111ortgage. ~
3. To keep the buildings and all equipment and persoual property now or hercafter on said premises covered by this mortgage,
insared in a sum equal to at least the amount of the mortg•?ge, or an amounc suf[iciei~t to comply with any co-insurance requim-
ment co~ering ehe same under the laws of the State of Florida, co~•ering loss (rom both fire and storm, making the loss under said
policies, each and e~•ery, payable to the Association, as mortgagee, as its interrst may appear, and said insurance shall be in a gooet
and responsible insurance company satis[actory to said Association, and xritten by a resporu~ble local agent satisfactory to said Asso-
ciation: and the polecy or policees shall bear a standard mongage clause without contribution, and, if the original principal amount
o( the monp,age is Fifty 'Thousand and no/100 Dollars (550.000.00) or in excess thereof. shall be held by the Association, and, in
the e~•ent any sum of money becomes payable under such policy or policies, the Association shall have the option to rrceive and apply
the same on account o[ the indebtedness hereby secured, or to permit the moregagors to receive and use it, or any part thereof, for
othet purposes, without thereby waiving or impairing any equity, lien, or right under and by virtue o[ this mortgage, and may
place and pay [or such insutance, or any part thereo[, without wai~•ing or atfecting its option to foreclose, or any right hemunder,
and che full amounc of each and ecery such payment shall be immediately due and payable and shall bear i~cerest Erom the date
thereof until paid at the race stated in che note secured hereby and together• wi[h such interest shall be secured by the lien oE this
1lfortgage.
To permit, commit, or suffer no waste, impairment or drterioration of srid ~ropert~~, or any part thereof, and upon
the failuro of the morigagors to 1;cep the bi~ildings on said propert~• in good condition of repair, the ~ssociation may demand the
immediatc repair of said bu;ldings or the irtimediate repayment of the debt hcreUy scc:iircd, and the failure of the mortgagors
to comply ~vith said demand of the Association for a Pericxl of Thirty (30) da~~s, shall constitute a breach of this mortgage,
and, at the option of ihe Association, immediatelv mature the eniire amount of principal and interest herebv secured, and the
Association, immediately and ~~~thout notice, may ins6tute proceedin~s m foreclose this mortQage and applr for the appointment
of a Recei~~er, as heteinafter provided. ,
S. This mortgage contract provides for additional advanccs ..-hich may be made at the option of the association and
secured by this mortgage, and it is agreed that in the evEnt of such advances the amount may be addeci to the mortgage debt
and shall increase the unpaid balance of the note hereby sec~~red hy the amount oE snch advance and sh~ll be a part of said ~
note indebtedness i~nder all the terms of said note and this contract as fully as iE a new such note and contract w-ere executecl
:+nd delivered. An additional advance agreement may be given and acceptecl for such advance and provision ma~• be made for
different monthlv pa~•ments and a different interest rate and other express modifications oE the contrac:, but in all~other res~cts
ihis contr:?ct shall remain in full force and effect as to said indebtectness, inclt~ding a1) advances.
6. If any of the sums of muney herein refened to be not promptly and fultv paid u~ithin Thirty (30) days next afker
the same severally come clue and payable, or if each and every the stipulations, agrcement, conditions, and covenants of said
promissory note and this deed, or either, are 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 modgage inclebtedness uader the terms of this mongagc
shall bec.~ome due and pay~ble forthwith or thereafter at the option of the Association, as fully and completely as if said aggregate
sum of money was origir?ally stigulated to be paid on such dav, an}'thing in said promissory no!e or herein to the contrarv not-
withstanding. " '
7. To deliver to the As.sociation, on or before ~iarch 15th, ~f each y~ear, tax receipts evidencing the payment of all la~.--
fully imposed taxes for the preceding calendar year; to deliver to the Association receipts evidencing the payment of all liens
for public improvements H•ithin ninety (90) days after the same shall i~ecpme due and payable, and to pay or discharge within
ninety (90) da~~s after due date, any and all governmental tevies that ma}• be made on the mortgaged propertv, on this mortgage
nr note, or in any other wav resulting from the mortgage indebtedness secureci bv this mortga~e. ~
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