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Home My WebLink About0315 . ~ F t at all times praceably and quietly to enter upon, hold, ocrupy und enjoy sa~d land; that s~id land is E~ee from aU encumbninccs; that they wiU make such fuither asaur'ances M perfad the fee simP~6 title to said la~d in t~~e As.wci~tiort as may reasonably bc ~ required; and that they do henby fully warrant the titb to said land and wi11 defend the same against the lawful claims of al) persons whomsoever. PROVIDED ALWAYS thut i( thc riortgagors shall well and truly pay unto the Association, the inaebted~ess evidenced by that certain promissory note. of even date herewith. made by the Mortgagors :?nd payable to the Association, in th~ princi~al sum of _SiX THOUSAND AND NO/100ths--------------------------- 6t 000. 00 _ _ _ Dollars (a which note, together with inte.est thereon :u themin specified, is payable in monthly installments of SEVENTY SEVEN ~ AND 64/100ths_-------------------------=-------_--------------------------------- -------------------------------------------------------------Doltars( . _ _ - _ - - _ . . s 77 20th • • Februar 20th 1976 on the_ _...day of each month cummencing ~vith---.-. ---.--.--------------Y_---------.e---------------------------------_---------_which payments are to be ~~pplied, first to interest, and the balance m principal, until said indebtedness is paid fa full, and shall perEorm, oomply .vith and abide by each and every the stipulations, agreements, conditions and covenants of said promicsory note and t~us mortgage, And, iacluding any advances made by the Association to the 1liortgagors, or their succes9ors in tida, for any purpose, at any time before the release and cancellaNon of this mortgage, but at no time shall ihis mortgage secure advanc~s on account of said original note together ~vith such additional ~advances in a sum in excess of_ S1X _THOUSAND AND_NO/100ths ~s 6, 000. 00 pl~ any advu~ necessan~ - - ~ - - ~ollars ~ - to protect the security and costs, then this deed and ihe estate hereby createcl shall cease and be null and void, AND THE riORTGAGORS DO hereby cvvenant and ag 1. To pay all and singular the principa1 and inte~rest°'and ~ther sums of money payable by virtue of said promissory nute :~nd this modgage, or either, promptly on the days respectively the same severally come due. 2. To pay all and singular the tases, assessments, levies, liabilities, obligations and incumbrances of every nature and kind 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 ass~saecl upon this ~iortgage, or the inde tedness securecl hereby, cach and every, when due and payablc, accorcling to la:v, before they become delinquent, and before any interest attaches or anv penalty is incurred; and insofar :u any thereof is of record the same shall be promptly satisfied and discharged of rec~ord and the original official document (such 1s, for insiance, ihe ta~c receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Association as \tortgagee ~vithin ten davs next after payment; and in the event that any thereof is not paid, satisfied and discharged, said Association m:~y at any time pay ti~e same or any part thereof ~~~thout waiving or aEfecting any option, Uen, equity or right iinder or by virtue of this '~tortgage, and the full amuunt of each and everv such payment shall be immecliately due and payable :u?d shall Uear interest from the date thereoE until paid at ihe rate stated in the note secared hereb~• and together ~vith such inter- est shall be secured by the lien of this 1liortgage. 3. To keep the buildings and all equipment auct personal property now or hemafter on said premisa covered by this mortgage. insured in a sum equal to at least the amount o[ the mortgage, or an amount sufficient to comply with any co-insunnce require- inent coveriug the same under the laws ot the State of Florida, covering loss trom both fire and storm, uuking the loss under said policies, each and e~ery, payable [o the Association, as mortgagee, as ies interrst may appear, and said insurance shall be in a good and responsible insurance company satistactory to said Association, and written by a responsible local agent satisEaccory to said Asso- ~ ciation• and the policy or policies shall bear a standard mortgage dause without rnntribution. and, if the original prinupal amount ~ o[ the •mortgage is Fi[ty Thousand and no/ 100 Dollars (550.000•OU) ar in excess thereof. shall be held by the Association. and, in ~ the event any sum o[ rooner becomes payable under such policy ot policies, the Association shall have the opdon to receive and apply ~ the same on account o[ the indebtedness hereby secured, or to permit the mortgagors to receive and use it, or any part thereof, for ~ other purposes, without thereby waiving or impairing any equity, lien, or right under and by vinue ot this mortgage, and may place and pay [or such insurance, or any part thereot, without waivinR or affecting iu option to [oreclose, or any right hereunder,~ ~ and the [ull amount of each and every such payment shall be immediately due and payable and shall bear interest irom the date ~ thereo[ until paid at the rate stated in the note secured heteby and together with such interest shall be secured br the lien of this ~ ~forcgage. 4. To permit, commit, or suffer no waste, impairment or detcriuration of ~id proPert~•, or any part ihereof, and upon the fail~re of the mortgagors to kecp the buildings on said property in good condition oE repair, the Association may demand the immediatc re~ir of said bu:ldings or the immecliate repayment of the debt hereby securecl, and the failure of the modgagors to comply with said demand of the Association for a period of Thirty (30) day^s, shall constitute a breach of this mortgage, and, at thc option of the Association, immediately mat:~re the er~tire amount of principal and interest herebv secured, and the Association, immediately and ~vithout notice, may institute pmceeclinas to foreclose this mortgage and appl~~ for the appointment nf a Recei~•er, as hereinafter provided. 5. This mortgage contract provides for additional advances ~~•hicl~ may be made at the option of the association and ~ secured by this mort~age, and it is agreed that in the event of such advances ihe amount may be added to the mortgage debt :~nd shall increase the unpaid balance of the note hereby secured by the amount of such advance and shall be a part of saicl ~ note indebtedness under all the terms of said note and this contract as fully as if a new such note and rnntract ~~•ere eaecutecl :~nd delivered. An aidditional advance agreement may~ be given and accepted for such advance and provision may be made for cliffemnt monthlv pa~'ments : nd a difEerent interest rate and other eapress modifications of the contract, but in all other respects ihis contr:?ct shall remain in full force and effect as to said indebteclness, including all advances. ~ 6. If anv of the sums of muney herein refetred to be not promptly and fully paid within Thirty (30) days next after :."c~. the sacne severall}' cvme due and payable, or if each and every the stipulations, agreement, conditions, and covenants of said ~ promissory note ancl this deed, or either, are not duly performed, complied with and abided by, ihe aggregate snm mentioned ~ in said promissory note and any other amount or amounts added to the mortgage indebtedness under ihe terms of this mortgage shall become due and paj~ble forthwith or thereafter at the option of t~{e Association, as fully and completely as if said aggregate sum of money was originally stipulated to be paid on s~ch day, anything in said promissory note or herein to the contrarv not- ~vithstanding. i. To deliver to the Association, on or Uefore !lfarch 13th, of each ~•ear, tax receipts evidencing the payment of all law- f~illy imposed tazes for the prececiing calendar vear; to deliver to the Association receipts evidencing the payment of all liens ~ for pub~ic improvements w7thin ninety (90) days after the same shall tx~come due and payable, and to pay or discharge within ninety (90) da~~s after due date, any and all govemmental levies that may be made on the mortgaged property, on this mortgage ~r note, or in any other way resulting from the mortgage indebtedness securcci by this mortgaRe. ~ ~ e ~ 248 p~~,E ~.4 \ ~ _ , _ ~ ~ ~ r~ `~~,~~`'~-y~`~?~r- _