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Home My WebLink About0779 at aU times peaceably and quietly to e~ter upon, hold~ acrupy und cnjoy said 1and; that s:?id laud is frre from aU encumbrances; ~ that ihey will make such fucther assursnces to perfect the fee simpie title 1o said la~d in the Assaciation az may reasonably !x~ + required; and that they do heceby fully warrant the title to aaid iand und wil! defend the same ugainst the lawful daims of ~ :~ll persans whomsoever, ~ PROYIDED ALWAYS that if the-I?1urtgagors shall well and truly pa~? unto the Assocriation~ the indebtedness cvidenced ~ hy that certain promissory note. of even date hecewith, made by the ?~~ortgagors und pa~able to the Assoc:iation, in the princi~~l ,um of _SEVEN__THOUSAND FIVE HUNDRED AND NO/100ths-------- po~~;~~ ~s 7~ 500.00 ~ ~vhich note, together ~vith interest thereon us thercin sPecified, is payable in monthly installments of NITTETY $EVEN ~ AND 05/100ths-------------------------------------------------------------- ~ . - - - - - _ _ - . - - _ . . . . _ _ . ~ 9?. 05 ~ _ Doilars (s... _ t- - - - on the_ ..20th_._ d:?y of each month commcncing with DeCembex' 20,_1975------------- ----------._._.which payments ~ :?re to be :ipplied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perform, comply K•ith and abide by each and every the stipulations, agreements, conditioiu and covenants of said pt+omissory note and th~s modgage, Md, including any advances made by the Assoclation to the l~tortgagors, or their successors in tidr, for any purpose, at any time before the mlease and cancellation of ihis mortgage, but at no time shalt this mortgage secure advances on account of said original note together ~vith such additional advances in a sum in excess of_.____.SEVEN Z'HOUSAND FIVE HUNDRED AND NO/ 100ths - - - - - - - - - - - - - 500. 00-- lus any advances necessary ' - - - . - nou~ ca - - ~ i to protect the security and cost=, then this deed and the estate hereby createci shall cease and be nuil and void. ' AND THE :1fORTGAGORS DO hereby cuvenant and agree: I. To pay all and singular ihe principal and interest and od~er sums of money payable by virtue of said promissory note .~r~cl this mortgage, or either, promptly on the days respectively the same severally come due. 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind no«• on said described property, or that hereafter may be imposed, suffered, placecl, levied, or assessed .thereon, or that hereafter may be le~~ied or assessed upon thi~ :ltortgage, or the indebtedness secured hereby, each and every, whcm due and ~rayable, according to law, before they become delinquent, and beFore any interest attaches or unv penalty is inCUrrecl; and insofar as .?ny thereoE is of rec~rd 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 officiaUp endorsed or certified),shali be placed in the hands of said ~ssociation as \tortgagee within ten days nezt after pa~~ment; and in the event ihat any thereof is not paid, satisfied and discharged, said Associ.ltion may at any time pay t~ie s~3me or any part thereoE ~vithout ~vaiving or affecting any option, Uen, eyuih~ or right ~inder or by ~~rtue of this ~iortgaoe, and ihe full amoant of each and every such payment shall be immediately due andpa ya61e and shall bear interest from the date thereoE until paid at the rate stated in thc note secured hereb~• and together with such inter- ~st shall be secured by ihe lien of ihis 1lfortgage. • 3. To keep the buildiags and all equipment aud personal property now or hereafter on said premisa covered by this mortgage, insured in a sum equat to at teast the amount o[ the mortgage. or an amount sufficient to rnmply~ with any eo-insurance require- ment covcring the same under the laws of the State of Florida, covering loss [rom both iire and storm, making the loas under said policies, each and every, payable to the Assotiation, as mortgagee, as iu interest may appear. and said insurance shall be in a good and responsible insutance company satistaceory to said Association, and written bp a responsible local agent satistactory to said Asso- ciation; and the policy or policies shall bear a stanelard u.ortgage dause wiehout contribution, and, if the original principal amount of the mortgage is Fifey Thousand and no/100 Dolla~s (550,000.00) or in excess thereof, shall be held by the Association, and, in the e~•ent any sum oE money becomes payable under such policy ot policies, the Association shall have the option to r~eceive and apply the same on account o[ che indebtedness hereby secured, or to permit the moregagors to receive ~nd use it, or any part thereof. for other purposc~s, wichout thereby waiving or impairing any equity, lien, or right under and br ~•inue o[ this mortgage, and mar place and pay [or such i~uurance, or any part thereo[, without wai~-ing or affecting its option to [oreclose, or anr right hereunder, ~ ~nd the full amount of each and e~~ery such payment shall be immeetiatety due and payable and shalt bear interest from the date tl~ereof until paid at the tate stated in the no[e secured hereby and together with suth interest shall be secured by the lien oE this tforcgage. 9. 7'o permit, cammit, or suffer no ~vaste, impairment or deterioration of said propert~•, or :~ny part ihereof, and upon tl?e failure oE the mortgagors to keep the buildings on said property in goocl condition of repair, the Association may dema~d the ~ immediate repair of said bu;ldings or the immeciiate repayment of the debt hereby sec;ureci and the failure of the mortgagors to rnmpl~ with saic~ demanci of the Association Eor a pericxi nf Thirty (30} days, shall constitute a breaeh of this mortgage, x and, at the option of the Association, immediatelv mature the entire amount of principal and interest herebv secured, and the # :~ssociation, immediately and ~vithout notice, may institute proceedin~s to foreclose this mort~age and appl~• for the appointment s nf a Recei~•er, :~s hereinaker providecl. ` 5. This mortgage conir.+ct provides for additional advances ~~~hich may be made at the optian of the association and ~ ~ecured by this mortgage, and it is agreecl that in the event of such advances the a:nount may be addeci to the mortgage debt :~nci shall incre~se the unpaid baiance of the note hereby secured by the amount of such advance and sh~ll be a part of saicl note indebtedness under all the terms ~f said note and this contract as fully as if a new such note and contract ~+•ere executecl ~,nd delieered, An :?dditional advance agreement may be gi~•en and aczepted for such advance and pmvision ~na~• be made for ~ clifferent monthly pa~-ments ~ ncl a different interest rate and other express modificaEions of the coniract, but in all other respectt ihis contraM shall remain in full force and cffect as to said indebtedness, ineluding all advances, j 6. ~f anv of the sums of money herein referred to be not promptly and fully paid a-ithin Thirty (30} days next aftcr ! t6e same severaity come due and payable, or if each and every the stipulations, agreement, conditions, and covenants of said ; promissory note and t}»s deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentionecl ~ in said promissory note and anv other amount or amounts added to the mortgage indebtedness under the tezms of this mortgage shall become due and pa~~~ble forthwith or thcreafter at the option of the Association, as fully and completely as if said aggregate ~ sum of money was originally stipulated to be gaid on such day, anvthing in said promissory note or herein to the contrarv not- ~?~thstanding. ' . i. To deli~~er to the As.sociation, on or before ~farch l~th, eE each ye.sr, tax receipts eviJencing the payment of all la~.-- f~il1y imposed taxes for the preceding calendar vear; to deliver to the Association receipts evidencing the payment oE all liens for publie impro~•ements within ninety (90) days after the same shalt bemme due and payable, and to pay or discharge within ninety (90) da}'s after due datc, an~• and ali governmental levies that may be made on the mortgaQed property, on this mortgage ~r note, or in an}' other way residtin~ from ihe mortgage indebtedness secureci bv this mortga~e. ~ ~ ~ . . F;~~ 7 z _ - _ ~ ~ ~ s . ~ ~f ~~_~.4 r