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Home My WebLink About0446 at aU times pcarnably and quictly to enter uEwn, hold, oc.rupy und enjuy suid l.~ncl; ttwt s:~id 1:?ud is frc~ from all ciicumbranc~s; that they will make sueh further assurane~s to perfeet the fee simple tide to s;?id land in the Assc~ciation as may reasonably Uc• rec~uered; sind that they do hereby fully warrunt the tide M said land and ~vill defe~d the s.1me agaiust the 1:?~~•ful claims af all i~erso~is ~~•homsoc:vcr. PROVIDED AL\VAYS that if the \lurt~;agurs sl~all ~~•ell and tn~ly pa~~ unto the Asscx•iation, the indebteciness c~~idenc~ by that eectain promissory nate, of even date here~vith, made bv the ttortgagors ainct ~:i~•uble to the A+sociation, in tl~c prineipal .um of T.WENTY-FOUR THOLISAND AND NO/ 100------------------ Doll:?rs (3 24. 000. 00 ~~~hich note, together ~~~th interest thercon as thercin specifieci, is p:~~:~t~le in rnc?nthly installrnents of T WO HUNDRED FIVE.AI~TD 54/100--------------------------------------------------------------- . _ Dollars (S 205. 54 . _ on the 19th _ _ day of each month a~mmencing «ith Mareh__ 1_9,_.1974_,.__._ _ . _ _ _ _ , _...wh;ch payments .?re to t~ :ippleed, first to interest, and the balance to principal, until said indebtedness is paid in ftil1, and shall perform, eomp1y ~~~ith and abide by cach and every the stipulations, agreements, conditions and covenants of said promissory note and this mortgage, And, including any advances made by ihe Association to the ilortgagors, or their successors in tide, for any purpose, at anv Hme befo~e the mtease and rancellation of this mortga~e, but at no time shall this mortgage secure advances on account of said original note together with ~uch udditional advanres in a sum in excess of-_T~'~NTY.-FQ~7~_T~iOUSAND _ ANL?__NQ~lUQ_-.-.-.-------.--_---.-.-_-----_-_-_-.---_----Do11an (S 24,-UOO.OQ plus any ad~~ances necessan~ tu protect the security and costs, then this deetl and the estate hembv createci sh:ill cease and be null and void. ~ A~~iD THE >10RTCAG~RS DO hereby cv~enant and agree: I. To pay all and singular the principal and interest and ather siuns of money pa~•able b}• virtue of said promissory nutc .u~d this mortgage, or either, promptly on the da~~s respectively the same se~~erally come due. 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and ldnd nu~~• on said deseribed pmpert~•, or that hereafter may be imposed, suffemci, plaeecl, levied, or assessed thereon, or that hemafter may be le~•ieci or assessed upon this ~lortgage, or the indebtedness securecl hereb~r, cach and e~-en~, ~vhen due and payable, .~ccord'u~g to la~v, bcfore they become deliuquent, and ~fore anv interest attaches or an~• penalty is incurrrd; and insofar as .~ny thereoE is of recvnl the same shall be promptly satisfied ancl clischargecl of r~cord and the original official document (such is, for in.ctance, the tax receipt or the satisfaction paper officialh> endorsed or certifiecl) shall be placed in the hands of said :lssociation as ~tort~agee ~~~thin ten davs next after pati~ment; and in the event that am• thereof is uot paid, satisEic~d and discharged, said Association may at any time pa~~ the same or any part thereof ~vithoui waiving or affecting .iny option, lien, equih• or right under or bti~ »rtue uf this ~iortgagc, and the full amount of each and everv such payment shall be immecliatelv due and~a yable .ind shall bear interest from the date thereoE until paid at the nte stated in the note secured hereb~• and to~ether ~eith s?~ch intcr- e~st shall be secured by the lien of this ~iortgage, ~ 3. To kePp the buildings and all equipment and personal property no~. or hereafter on said premises covered by this mortgage, insured in a sum eyua[ to at least the amount of the mortgage, or an amount sufEicient to tomplr with any co-insurance require- ! rnrnt co~•ering the same under the law~s of [he Seatr of Florida, covering loss trom boch fire and storm, making the loss under said }~olicies. each and r~~ery, payable to the Associatiot~, as mortgagee, a~ its intrrrst may appear, and said insurance sha11 be in a goocl and responsi6le insurauce company satis[actory to said Association, and rrritten by a responsible local agent satistaetory to said Asso- ciation; and the policy or policies shall bear a seandarci mongage clause w•ithout contribution, and, i( the original principal amount of the mortRaRe is Fifty 7'housat~d aud noi 1lNl llollara (S50.(~0.00) or in excess thereof, shall Ue hetd by the Association, and, in the e~•ent any sum oE money becomes payable uucter such policy or policic~s, the Association shall ha~~e the option to recei~•e and apply ~he same on accoune of ehe indebtedness hereby secured, or to permit ehe mortRagon to receive and use it, or any part thereof, for u~her pur~OSes, without thereby wai~•irTR or impairing any equity, lien, or right under and by ~~irtue of this mongage, and may p)ace and pay [or such insurance, or an~ part ehereo(, without waia•inK or at(ecting its option to toreclose, or any right hereunder, and the [utl amount of each and e~•ery such pa}~nent shall be immecliately due and payable and shall bear interest from the date thrreot uneil paid at the rate staced in the uote secureci hereby and eogether with such interest shall be secured by the lien of this ~tortgage. -1. To permit, ccmmit, or suffer no ~~•aste, impairment or deterioratiun of s:tid propert}•, or :in~ I~rt thereof, snd upo~i thc faiiura of thc mort~a~ors to kec;p the builden~s on saicl propcrt~• in goocl conuition of repair, the ~ssociatian may demand thc immediatc repair of said Uu;ldinas or the immediate mpayTnent of the dcbt hereb~~ seenrc~l, and the failure of the mortgagors tu comply ~vith said demand of the Aswciation far a peri«i of Thirt~~ (30) da~•s, shall constihite a breach of this mortgage, and, at the option of the Association, immediatelv mature the entire amount of principai and interest herebv secured, and the :tscoeiation, immeciiately and without notiee, mav institute proeee~linRS t~i foreclose this mortga,~e and apph• fnr thP appointment nF a Recei~•er, as hereinafter providecl. ~ S. This mortgage eontract pmvides for additionul ad~ances ~rhich m:?y be made at the option of the assoeiation and secured by this mortgage, and it is agreed that in the e~•ent of such adrances the amount may be added to the mortgage debt .~nd shall increase the unpaid balance of the note hereby secured by the amount of such advance and shall be a part of said note indebfedness under atl the tecros of saicl note ancl this contract as fully as if a ne«- such note and contract w•ere executed .~nd rleliti~ered. An :idditional :id~~ance agreement ma~• be gi~•en and accepted for such acivance aud provision may be made for cliffcrent monthh~ pa~~ments .:nd a diEEerent interest ratc and other express modificatians of the contrac., but in all other respects ~his contr:tct shall remain in full force and effect as to said indebtedness, including all advances. 6. If am• of the sums of money herein referred to be not promptly and fulh• paid ~~•ithin Thirty (30 ) days next after the same severaliv come due 1nd payabte, or if each and even~ the stipulations, aoreemeni, conditions, and covenants of s~~id promissory note aad this cleed, or either, are not duly performed, eompliecl ~~•ith and abided by, the aggregate sum mentionecl in said promiscory note and anv other amount or amounts addecl to the mortgaGe indebtedness under the tetms of this mortgagc shall bec.~ome duc and pa~•~ble forthw7th or thcreaftcr at the optiow-of the Asso:iation, as fully and completely as iE ~aid ag~regat~ sum oE money ~vas originally stipulateci to be paid on such da~•, an~~thing in said promisson~ note or herein to the cnntran~ not- «~ithstanding. ' ' - . 7. To deli~•er tn the Associatiun, on or before Zlarch iSth, of each }•e.ir, tax receipts evidencing the pa}7nent of all ]a~~-- fi~lly imposecl taxes for the precec]in~ e=ilrndar vear; to deli~~er to the Association receipts evidencing the payment of all liens for public improvements ~~•ithin ninety (90) days aftcr the same shall l~ccome due and pay~able, :tnd to pay or discharge within ninety (90) da~•s after due date, an~- and all ~ovemmental Ievies that may be made on the mort~a~eci prupercv, cm this mortga~~ ~r note, or in ;?nq other u•ay res~~ltin~ Frnm the mortgage ir~debtedr~ess secorc~l L~• ihis mort~a~c~. ~ r r_ ~ 224 ~A~~ 4~5 r _ -