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Home My WebLink About0418 at $U timespe~cesbly and quietly to enter upon, hold~ accupy and enjoy s~d land; that said land 'u frca from all encumbrances; that they will malco such further assuranost Lo patfec! the fee simPle title to said land in the Association as may reasonably be requued, and that they do hereby fully watrant the titla to said land and' wilt defend the sume against the lawEul claims of all persons whomsoever. ; PROVIDED ALWAYS that if the riortgagon shaA weU and truly pav unto the Association. the indebtedness evider?oed ± by t}wt certain promissory note, of even date berewitb, made by the Mortgagors and pay~able to the Association, in the principal SIXTEEN THOUSAND AND NO/100ths--------------------- 16, 000.00 ; swn of - - - - _ . Dollars (i . . _ _ . 3 which note, together with interest thereon us therein specified, is payable in monthly installments of ONE HUNDRED FORTY SIX AND 54/100ths----------------------------------------------------- _ _ nollars (s _ _ 146. 54---- on the__ Zn41---- ------day of each m~th commencing ~vith--.-- Julie_2~1975-------------- --------------whkh payments ' mu are to be applied, first M interest, and the balance to principal, until said indebtedness it paid in fuU, and shall perform, oomu with and abide by each and every the stipulations, agreements, condiKons and covenants of said promissory note and modgage, Md, including any advances made by the Associaition to the Mortgagors, or their successors in tidd, for any purpose, at any time before the mlease and cancellation of this mortgage, but at no time shall this mortgage secure advances aa account ; of said original note together with such additionat advances in a sum in escess of__ SIXTEEN THOUSAND AND ` ._NO/100ths------------------------------- 16 000.00 --Dollars (s---- plus any advances ne~cessary to protect the sectuity and costs~ then this deed and ihe estate hemby created shall cease and be nuli and void. AiVD THE MORTGAGORS DO hereby cvvenant and agree: ' ~ 1. To pay all aad singular the principal and interest and other sums of money payable by virtue of said promissory note :~nd this mortgage. or either, pmmptly on t~ie -days respectively the rame severally come due. ~ 2. To pay all and s~ngular the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature aad lond s e now on said described property, or that hereafter may be imposed, suffered, laced, levied, or asseccsed thereon, or that hereafter : may be levied or asseued upon this Mortgage, or the iadebtedness sec hereby, cach and e~•ery, when due and payable, ` accorcling to la~v~ before they become delinquent, and before any interest attaches or uny penalty is incarred; and insofar as ~iny thereof is of record the same shall be prompily satisfied and discharged of record and the original official document (such as, for instance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of raid Association as ~iortgagee within 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 ~~ithout wvving or affecting any option, lien, equity or right j under or by virtue of this \lortgage, and the full amount of each and every such payment shall be immediately due andpa yable and shall bear interest from the date theceoE until paid at the rate stated in the note secured herebti• and togethe.r with such inter- est shall be secured by the lien of lhis Mortgage. 3. To keep the buildings and all equipment and penonal property now or hereaEter on said premises rnvered by this mortgage. S insured in a sum equal to at least the amount oE the mortgage. or an amount sut[icient to mmply with anp co-insurance require- ment mvering the same under the laws.of the State of Florida. mvering loas [rom both fire and storm, making the loas under said ~ policies, each and every. pa~+able to the Association, as mortgagee. as its interest may appeu, and said insurance shatl be in a g~ood ~ and responsible insurance company satufaaory to said Association, and written by a responsible local agent satisfactoty to said Asso- ~ ciation; and the policy or policies shall bear a standard mongage clause without rnntribution. and, iE the original principal amount # of the mortgage is Fifty Thousand and no/100 Dollars (j50,000.00) or in excess thereof. shall be held by the Association. and, in g ; che event anr sum oE money becomes payable under such poliry or policies, the Associaeion shall have the op[ion eo receive and apply ~ ~ the same on acoount of the indebtedness hereby secnred. or to permit the mottgagots to trceive and use it, or any part thereof, for { other purposes, without thereby waiving or impairing any equity, lien, or right under and br vinue of this mortgage, and may ~ place and pay for such insurance, or any part thereof, without wai~ing or atfecting iu option to [orecloae. or any right heteunder. ! and the [ull amount of each and every such payment shall be immediately due and payable and shall bear interest from the date ~ thereof until paid at the rate stated in the note secured hereby and together with such interest shall be secured by the lien of this ( .~o~. ~ ~ ~ To permit, commit, or suffer no waste, impairment or deterioration of said proped~~, or any part thereof, and upon , ~ the failurc~ of the mortgagors to keep the buildings on said property in good condition of repair, the Association may demand the = immediate repair of said buildings or the immediate repayment of the debt hereby secured, and the failure of the mortgagors to comply ~vith said demand of the Association for a period of Thirty (30) day5, shall constitute a breach of this mortgage, r ~ and, at thc option of the AssociaHon, immediately mature the entire amount of principal and interest hereby secured, and the t ~ Association, immediately and without notice, may institute proceedinos to foreclose this mortgage and apply for the appointrnent # ~ of a Aeceiver, as hereinafter provided. : ~ 5. This mortgage contract provides for addition~l advances whicl~ may be made at the option of the association and ~ secured by this mortgage, and it is agreed that in the event of such ad~~ances the amount may be added to the mortgage debt and shall increase the unIraid balance of the note hereby secured by the amount of such advance and shall be a part af said ~ noie indebEedness undec all the terms of said note and this contraM as fully as if a new such note and contract were execated ~ and delivered. An additional advance agreement may be given and accepted for such advance and provicion may be made for ~ differeM monthly payments and a different interest rate and other express modifications of ihe coniract, but in all other respects ~ ihis contract shall remain in full force and effect as to said indebteclness, including all advances. ~ 6. If any of the sums of money herein referred to be not promptly and fullv paid within 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 t promissory note and this deed, or either, are not duly performed, rnmplied with and abided by, the aggregate sum mentianed ~ in said promissory note and any other amount or amounts added to che mortgage indebtedness under the terms of this mortgage ~ shall become due and payable forthwith or thereafter at the option of the Association, as fully and completely as if said aggregate ~ s~m~f~ao~ney was originally stipulated to be paid on such day, anything in said promissory note or herein to the contrary not- x ~ & : ~ ~ 7. To deliver to the Association, on or before ~farch 15th, of each year, tax receipts evidencing the payment of all laH•- ` ~ fully impoaed taxes for the preceding c~alend~r year; to deliver to the Association receipts evidencing the payment of all liens ~ Y for b~ie im rovements within nin ~ pn p ety (90) days after the same shall heoome due. and payable, and to pay or discharge within ~ ninety (90) davs after due date, any and all govemmental kvies that may be made on the mortgaged property, on this mortgage ~ or note, or in any other way msuliin~; from the morigage indebtedness secured by this mortga~e. ~ ~ . e~oK 239 ~~~E - - ~ 417 ` ` ~ _ ~ ~ ~ _ . _ , _ ~ , _ _ _ ~ ~