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Home My WebLink About0370 • ~ s at all timespea ccably and quietly to eater upon, hold, occupy and er?joy ssud lxnd; that said land is free from all encumbrances: that they will make such further assurances ~o Perfeet the fee dmple title to raid land in the Associution as may reasonably be required; and that they do hereby fully warrant tbe tide to aaid land and ~vill defend the sume against the lawful claims of all persons whomsoever, PROVIDED ALWAYS that if the riortgagors shaU well and truly pay unto the Association. the indebtedness evidenoed by that certain pmmissory? note. of even date herewith. made by thc :~iortgagors and pay.~ble to the Association, in the principal FORTY FOUR THOUSAND AND NO/100th8----------------- po~~,.,rs 44, 000. 00 sum of - _ . . - _ - - _ _ _ _ . (i which note, together with interest theireon as therein spec~fied, is pc?yable in mor?thly i~t~l~me~~s oE interest payments due on November 1,1975, December 1,1975, January 1~ 1976 and then THREE HUNDRED ~ _ - . , SIXTY ONE AND ?5/100ths---------------------------------------------------- . _ _ _ - - - - ~ - . . - - - - - - - - - - - - _ i - - _ . . uolla~ (s . _ . 36.1. 75----- ~ on the__._.lSt--- day of each month commencing ~vith----- --.---Feb2'UaI'.Y_.1~ Z9?8---------------------- ---------------which ts ;?re to be upplied, first to interest, and the balance to principal. until said indebtedness iu paid in full, and shall perform~o~ply with and abide by each and every the stipulations. agreements, conditions and covenants of said promissory note and this modgage, Md, including any advances made by the Association to the Mortgagors, or iheir successors in titk~. for any gnrpose, - at any time before the relesse and cancellation of this mortgage, but at no time shall this mortgage secure advanoes on account of said original note together with such additional advances in a sum in ~~cess oE__FORTY. FOUR, THOUSAND _ ~ ..A~jD_~j.Q11QQ#~&.-------_---_-.----------------Dollars (s_ 44._~IQ_Q~-~Q---•)> plus any advances necessarv - to protect the scrurity and costs, then this deed and the estate hereby created shall cease and be null and wid. ~ AND THE I?iORTGAGORS DO hereby cvvenant and agree: 1. To pay all and singular the princi'pal and interest and other s~uns oE money payable by virtue of said promissory note and this mortgage. or either, promptly on the days respectively the same severally rnme due. 2. To pay aU and singular the taxes, a~ssments, levies,liabilities, obligations and incumbrances of every nature aad Idnd now on said described property, or that her~eafter may be un~ , suffered, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon this :~iortgage, or the indebtedness securecl hereby, cach and every, when due and payable, uccording to law, before they become delinquent, and before any interest attaches or any p~nalty is incurred; and insofar :u any thereof is af record ihe same shall be prompdy satisfied and discharged of record and the original official document (such as, for instance, the tax receipt or ihe satisfaction paper officially endorsed or cedified) shall be placed in the hands of said ~ssociation as ~iortgagee within ten days next after ~rayment; 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 ~vithout waiving or af[eMing 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 immediately due andpa yable : and shall bear interest from the date thereof until paid at the rate stated in the note secured hereb~• and togethe.r with such inter- ~ est shall be sec~red by the lien of ihis hiortgage. ~ 3. To kcep the buildings and all cquipment ~nd personal propcrty »ow or hereatter.on said premisa covered by this mortgage, ~ insured in a sum equal to at least the amount ot che mongage, or an amount sufficient to comply with any co-insurance requic~e- ment covering the same under the laws of the State of Fiorida. mvering loss from both Eire and storm, making the loss under said ~ policies, each and every, payable to the Associacion, as mortgagee, as iu interest may appear. and said insurance ahall be in a good ~ and responsible insurance company utistaaory [o said Association, and written by a responsible lonl agent satisfactory w said Asso- ciation; and the policy or policia shall bear a standard mortgage dause without rnntribution. and. iE the original principal amount ~ o[ the mortgage is Fi[ty "Thousand and no/100 Dollats (550,000.00) or in exceu thereof. shall be held br the Association, and, in I the erent any sum of moneJr becomes payable under such policy or policies, the Association shili have the option to receive and apply i ~ the same on account of the indebtedness hereby secured, or to permit the mortgagon to receive and use it. or any part thereof, for : otheF purposes, without thereby waiving or impairing anr equity, lien, or right under and by virtue of this mortgage, and may 3 ~ place and pay for such insurance, or any part thereot, without wai~•ing or a[Eecting its option to foreclose, or any right hereunder. ~ ~ and the full amount o[.each and every such pa}Tnent shall be immediately due and papable and shall bear interest trom the date ehereof until paid at the race stated in the note secured hereby and together with such intereat shall be secured by the lien oE this ~fortgage. To permit, commit, or suffer no waste, impairment or deterioration of said property, or any part thereof, and upon ~ the failuro of the mortgagors to keep the buildings on said property in good condition oE repair, il~r r~xx:iatiun niay cle»ia?;d the ~ immediate repair of said bu;ldings or the immediate rerayment of the debt hereby secured, and the failure of the mortgagors ~ to comply ~vith said demand of ihe Association for a period of Thirty (30) days, shall constitute a breach of this mortgage, and, at thc option of the Association, immediately mature the entire amount of princiIral and interest hereby secured, and the ° Association, immediately and without notice, may institute proceeclin;s to foreclose this mortgage and appiv for the appoiniment ~ of a Receiver, :is hereinafter provide~. - ; D 5. This modgage contract provides for additional advances ~~•hich may be made at tbe option of the association and ~ secured hy thu mortgage, and it is agreed that in the event of such advances the amount may be added to the mortgage debt ~ and shall inerease the unIraid 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 contraM as fully as if a new such note and contract w•ere executed and deli~ered. An additional advance agreement may be given and accepted for such advance and pruvision may be made for different monthlv payments znd a different interest rate and other express modifications of the contract, but in all other respects ~ ihis contr:ict shall remain in full force and effeM as to said indebtedness, including a!1 advances. ~ 6. If any of~the sums of muney herein referred to be not promptly and fully paid within Thirty (30) days next after ~ ihe same severally come due and payable, or if each and every the stipulations, agreement, conditions, and covenants of said ~ promissory note and this deed, or. either~ are not dnly performed, complied with and abided by, the aggregate sum mentioned i ~ in said promissory note and any other amount or amounts added to the mortgage indebtedness under the terms of this mortgage ? shall ~ecome due and payable forihwith or thereafter at the option of the Association, as fully and completely as if said aggregate ; ~ sum of money was originally stipulated to be paid on snch day, anything in said promissory note or herein to the contrarv not- ~ .vithstanding. 7. To deliver to the Association, on or before liamh 13th, of each ye~ar, tax receipts evidencing the payment of all laW- f fully imposed taxes for the prececling ralendar year, to deliver to the Association receipts evidencing the payment of all liens a ~ for pubfic improvements within ninety (90) days after the same~shall hecome due and payable, and to pay or discharge within ~ ~ ninety (90) davs after due date, any and all governmental levies that may be made on the mortgaged pmperty, on this mortgage or note, or in any other way msalting from the mortgage indebtedness secured by this mortgage. ~ soox 244 _ ~ . ~ 370 ` ~ _ _ s _ w. . ~f _ y