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Home My WebLink About0325 1t all times pc:ice'ably and quielly to enter upon, 1?uld, ~Krupy and enjuy ~;uJ I:uid; ti?at s:ii~l I:?ud is ireti trum all rncumlir:u?cc~s; : that they will n~ake such further assurai?ces to perfed the fee ai~nple tide to said lund in tE:e Aswciution as may reasonably lx• ~ rccluired; and that they do hereby fully warrant the title to said land and will defend the same ag.unst the I:~wful claims of ::11 persons ~vhomsoever, PROVIDED ALWAYS that if the '~tortgagurs shall well and tndy pay anto the Asscx•iation, thr indebtedness evid~nced by that certain promissory note, of even date herewith~ made bv the \fortgagors and ~x~yable to the Ass~xiation, in thr prioci~~.~l ~um oE _THIRTY ONE_THOUSAND FOUR HUNDRED AND NO/100ths- uoll:~rs (S31, 400. 00 ~.~hich note, tc~ether with interest thereon as themin specifiecl, is payublr iu monthlv installments of TWO HUNDR,ED , SIXTY THREE AND 52/100ths--------------------------------------------------- _ _ _ ~ ~ Doll~rs_ (S 263.52 . _ on the .20~ day of each month a~mmencing with . _ Jat1u~Y'y_20, 1976-----_---_--. -.-._.which paymentc ' .~re to be applied, first to interest, and the balance to principal, until said indebtedness is paid in full, and shall perfotm, oom ly ~eith and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and t~is mortgage, And, including any advances made by the Association to the \iortgagors, or their sacces~ors in titlc, for any purpose, at anv time before the release and canceliation of this mortgage, but at no time shall this mortgage secure advances on account of s:iid original note together with such additional advances in a sum in excess of,_ THIRTY._ ONE_.TI~OtT~A~TD _ FOUR.HITNDRED. A~I?.NO/.lOQths-.-_--_----.--- Dollars (3 _31,.40D. OU plus any advances necess:in• to protect the security and c~sts, then this deed and the estate hcreby created shall cease and be null and ~•oid. AND THE 1110RTCiAGORS DO hrreby cvvenant and agree: 1. To pay all and singular the principal and interest and other sums of money payable by virtue of said promissorv notc ~ .uid this mortgage, or either, promptly on the days respectively the same severally come due. ~ 2. Ta pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbranc~es of every nature and kinJ now on said dcscribed property, or th.1t hereafter may be impos~cl, suffered, placed, leviecl, or assessed thereon, or that hereaker ?nay be levied or assessed upon thic ~tortgage, or the indebtedness secured hereb~•, cach and e~~ery, H•hen due and payable, .~cconling to law, before they become delinquent, and before any interest attaches or anv penalty is incurred; and insofaz as any thereof is of recwrd the same sliall be promptly s:?tisfied and discharged of reconi and the origiaal official document (such ~s, for instance, the tax receipt or the satisfaction paper officially endorsed or certifiecl) shall be placccl in the hands of said Association as ~tortgagce ~~~thin ten da~~s next after pa~~ment; and in the event that any thereof is not paid, satisfied and dischsrpecl, caid Association may at any time pc~y the same or any part thereof ..~thout waiving or affecting any option, lien, equitv or right ~mder or by virtue of this ~lortguge, and the full amount of each and e~~ery such payment shall be immecliately due andpa yable :uid shall bear interest from the date the~eof-until paid at the rate stated in the note secared hereb~• and to~ether with such inter- ~st shall be secured by the lien of this Mortgage. 3. To keep the buitdinqs and all equipmeut and personal property now or hereatter on said premises covered by this mortgage. ~ insured in a sum equal to at least the amount of t}?e mongage, or an amount suf(icieut to comply with any co-insurance require- - k ment covering the same under the laws o[ the State of Florida. rnvering loss [rom both Eire and storm, making the loas under said { ~~olicies, each and e~•ery, payable to the Association, as mortgagee, as its interest may appear. and said insurance shall be in a good - and responsible insurauce company satistactory to said Association, aud r?riteen by a responsible local agent satisfactory to-said Asso- I ciaeion: and the policy or policees shall bear a standarci mongage dause without contribution, and, if the original principal amount f of the monp,age is Fifty Thousand and no/100 Dollars (s50,000_00) or in excess thereof, shall be held by the Association, and, in r ! the event any sum of money becomes payabie uuder such policy or policies, the Association shall have the option eo receive and apply ~ ~ the same on account o[ the indebtedness hereby secured, or to ptrmit the mongagors to receive and use it, or any pan thereof, for ~ ~ other purposes, without thereby wai~•ing or impairing any equity, lien, or right under and by virtue of thu mortgage, and mar ' place and pay tor such insurance, or any pare thereoE, without wai~•ing or af[ecting its option to foredose, or any righc hereunder. _ ~ 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 ~ Jiortgage. ; ~ 4. 7'o permit, commit, or suffer no ~vaste, impairment or deteriorution of s:,id propert~-, or any l~rt thereof, and upon ' ffi the failure of the mortga~ors to keep the bnildin~;s on said property in gaxl condition oE repair, the Association may demand the ~ immediate re~ir of s:iid bu:ldings or the immc~cliate repayment of the debt hereby seeurecl, and the failure of the mortgagors ~ to comply ~~~ith said demand of the Association for a perioci of Thirty (30) day~s, shall constitute a breach of this mortgage, ~ and, at thc option of the Association, immecliatelv mati~re the entire amount of principal and interest herebv secured, and the .~ssociation, immediately and ~vithout notice, mav institute procceciinRS to foreclose this m~xtQa~e and apph• for the appointment ~ ~~f a Recei~~er, as hereinafter prmided. ~ . 5. This mortgage contr.?ct provides for additiunal advances «~hich may be made at the optiun oE the association and secured by this mortgage, and it is agreed that in the event of such advances the amount may be addeci to the mortgage debt :~nd shall increase the unpaid balance of the note hereby secured by ihe amount of such advance and shall be a part of said note indebteclness under all the terms of said note and this contract as fully as if a new such note and contract ~cere exec~tecl ~ .+nd delivered. An additional advancc agrecment may be given and accepted for such advance and provision may be made for , ~ different monthlv pa~~ments .^.nd a different interest rate and other express modifications of the contract, but in all other respects ' ~ ~his contract stuill remain in full force and effect as to said indebteciness, induding all advances. ~ 6. If. any of the sums of muney herein referred to be not promptly and fu11v paid within Thirty (30) days next after ~ the same sever?ll,v come due and payable, or if each and every the stipulations, agreement, conditions, and covenantr of said ~ promissory note and this deed, or either, aze not duly performed, complied with and abideci by, the aggregate sum mentioned ~ in said promissory note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage ~ ~ shall become due and pa~•sble forthwith or thcreafter at the option of ihe Association~ as fully and completely as if said aggregatc ' sum of money ~vas originally stipulated to be paid on such day, am~thing in said promissory note or herein to the contrarv not- ; ~ withstanding. ' ~ k 7. To deliver to the Association, on or before ~tarrh l~th, of each y~ear, tax receipts evidencing the payment of all la~c- ' ~ fnlly imposed taxes for the precec]ing calendar vear; to deliver to the Association receipts evidencing the payment of all liens ? ~ for pub~ic impmvements H•ithin ninety (90) days aker the same shall hecomc due and payable, and to pay or discharge within ~ ninety (90) da~s after due date, any and all governmental levies that may be made on the mortgaged property, on this mo~t~age ~ nr note, or in any other way resulting fmm the mortgage indebtednesc secarecl bv this mortgaQe. ~ ~ C ~ ~ BGOK f'A~,,E 325 ~ ~ - ~ ~~~-r Z ~ ~ ~ _ ~ ~ ~ ~