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Home My WebLink About2776 at all times peuceably and quietly to enter upon, hold, occupy and enjoy said lund; that said land 'u free from all encumbrances; that they will malca such fu:ther assurances M perfect the fee stmple title to said tand in the Associution as may reasonably be required; and that they. do her~by fully wartaat the title to said land and will defend the sume against the~la~vEul claims of :!1 persa:is ~h~ms~v~t. PROVIDED ALWAYS that if the Mortgagon shall well and truly pay unto the Association~ the indebtedness evide,~~oed by that certain promissory note, of even date horewith, made by the Mortgagors and payable to the Association, in the princilral sum oE _THIRTY._Z'HREE Z'HOUSAND FIVE.HUNDRED AND.NO/100ths po~~,~~ 33, 500. 00 which note, together with interest thereon as therein specified, is puyable in monthly installments of TWO HUNDRED. _ SEVENTY FIVE AND 42/100ths------------------------------------------------ - Dollars (s 2?5. 42_ _ on the- - 20~ -_-da of each month c~mmet~cin .~ch.-.- June 20, 1975 . Y S - - - -------------------------------------------------------------~'hxh PaYments are to be applied, first to interest, and the balance to principal, until said 'wdebtedness is paid in full, and shaII perforni, ao~ply with and abide by each and every the stipulations, agreements. conditions and covenants of said pr~missary note and this mortgage, Md, including any advances made by the Association to the Mortgagors, or their suocessors in tidC, for any purpose, at any time before ibe release and cancellation of this mortg~ge, but at no time shall this mortgage secure advances on account of said origin~l note together with such additional advances in a sum in excess of.._~TY_ TAREE TAOUSAND ___FIVE_HUNDRED.AND_NO/100ths -----~_--.--po~~a~ ~s_33,.500.00 P~~ ~y a~jyarn~es necessary to protect the security and costs, then this deed and the estate hereby created shall ceuse and be null and void. AND THE MORTGAGORS 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 nute ancl this mortgage, or eitt~r, promptly on the days respectively the same severally come due. 2. To pay atl and ~u,guiar the taxes, assessments~ tevizs, tiabilitiES, oblig~tioru niid 'u~cwnurs~~ces of every uature and lcind no~v on said described property, or that hereafter may be im~, suffered, placed, levied, or assessed thereon. or that hereafter ; may be levied or assessed upon this :~iortgage, or the ind e~iness secured hereby, cach and every, when due and payable, :~cconling to la~v, before they become delinquent, and before any interest attaches or any penalty is incumed; and insofar :u any ihereof is of record the same shall be promptly satisfied and discharged of record and the original official document (such ~s~ for instance, the tax receipt or the satisfaction paper offieially endorsed or certified) sha11 be placed in the hands of said Association as ~fortgagee within ten days next after paymeni; and in the event that any thereof is not Fraid, satisfied and discharged, ' said Association may at any time pa}' the same or any patt thereof ~vithout waiving or affecting any option, lien, equity or rigt~t ' under or bv virtue of this '.1lortgage, and the full amount of each and everv such payment shall be immediately due andpa yable and shall bear interest from the date ihereof until paid at the rate stated in the note secured herebv and together with such inter- est shall be securecl by the lien of ihis Mortgage. ~ ~ 3. To keep the buildings and all equipment and personal propeny now or hereafter on said premisa rnvered by this mortgage, insured in a sum equal to at least the amount o[ the mortgage; or an amount suE[icient w rnmply with any co-insutance tequire- ' ~ ment covering the same under the laws of the State oE Florida. covering loss (rom both fire and storm. making the loas under said f policies, each and every, payable to the Association, as morcgagee, aa its interest may appear, and uid insunnce shall be in a good ~ .,a :tiie .s.. j 3•... :.°+j%...^•%.••.. ~j.: ~.:.~.e~: j.v :a.u ~aaiaii.as:vu. auu wTiiici! u~ a 7cS~6iu~v~c aua.ai ~cni saiuiaC[O[~I LO Sala li530- s ; ciation; and the policy or policia shall bear a seaudard mongage clause without contributioa, and. if the original prindpal amount ~ ~ of the mortp,age is Fi(cy Thousand and no/ 100 Dollars (;50,000.00) or in excess thereof. shall be held br the Association. and, in ~ the event any sum of money becomes payable under such policy or policies, the Association shall have the option to receive and apply ~ the same on account o[ the indebtedness hereby secured, or to permit the mortgagon to receive and ux it, or any part thtreof, for other purposes, without thereby wai~~ing or impairing any equity, lien, or right under and by virtue of this mongage. and may place and pay for such insurance, or any part thereo[, wiehout waiving or af[ecting its option to toreclose, or anr right hereunder, s and the full amount ot each and every such payment shall be immediacely due and payable and shall bear interat [rom the date 3 thereof until paid at the rate swted in the note secured heteby and together with such interest shall be secured by the lien of this ~ ~fortgage. 4. To permit, commit, or suffer no waste, impairment or deterioration of ~id propert?~, or any part thereof, and upon 3 ~ i ~ the failuro of ihe mortgagors to keep the buildings on said property in good condition of repair, the Association may demand the i ~ immediate repair of said bu:lclings or the immediate repayment of the debt hereby seeureci, and the failure of the mortgagors ~ s to comply ~vith said demand of the Association for a period of Thirty (30) days, shall constitute a breach of this mortgage, ; and, at thc option of ihe Associution, immediately mature the entire amount of princiIral and interest hereby secured, and the ~ Association, immediately and without notice, may institute proceedin;s to foreclose this mortgage and applv for the appoin~ent ~ of a Receiver, as hereinaker pm~tided. ~ 5. This mortgage contraM provides for additional advances ~~•hich may be made at the option of the association and ~ secured by thic mortgage, and it is agreed that in the event of such advances the amount may be added to the mortgage debt ~ ~ and shaU increase the unpaid balance of the note hereby secured by ihe 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 :uid contr~ct w•ere executeci ! _ and delivered. M additional advance agreement may be given and acc~epted for such advance and provision may be made for ' ~ different monthlv payments snd a different interest rate and other express modifications of the contract, but in all other respects ? ' ihis contract sha11 remain in full force and effect as to said indebtedciess, including all advances. ' ~ 6. If any of the sums of money herein referred to be not promptly azid full~~ paid v_thin Thirty (30) days next after the same severally come due and payable, or if each and every the stipulations, agrcement, conditions, and covenants of said ~ promissory note and thu deed, or either, are not duly performed, complied with and abided by, the 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 ~come due and payable forthwith or ihcreafter at the option of the Association, as fully and completely as if said ag~cegate ~ sum of money ~vas originally stipulated to be paid on such day, anything in said promissory note or herein to the cantrarv not- ~ .vithstanding. ~ ~ 7. To deliver to the Association, on or before :1larch 15th, of each ye~ar, tax receipts evidencing the payment of all law-- ~ ~ fully impcued taxes for the preceding calendar year, to deliver to the Association receipts evidencing the gayment of all liens ~ for pub il'c improvements w~thin ninety (90) days after the same shall l~ecome due and payable, and to pay or d'ucharge within ~ ninety (90) da~~s after due date, any and all govemmental leries that may be made on the mortgaged property, on this mortgage ~ ~r note, or in any other way msultir~ from the mortgage indebtedness secured by this martgage. ~ ~ ~ ~ 800K ~.Ve7 PM~ ~ 2771 ~ - ~ . . . _ _ ~ ~ _ _ ~