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Home My WebLink About0674 ~ , at aU times peuceubly and quietly to enter upon, hold, ocrupy und enjoy suid l:?nd; that said land is free frum aU encumbrances; ~ that they will make such fuither assuranoas ~o peifect the fee simple t~de to said land in the Association as may re:uonably bc: required; and that they do hereby fully warrant the title to said land and ~vill defend the same agai~ut tl~e lawful claims of all persons whomsoever. . - PISOVIDED AL\VAYS thut iF the I~tortg~gors shall well and truly pey unto the 1lssociation, the indebtedness evidenced by that certain promissory note, of even date herewitb, a~ade by the I~lortgagors and pa~~ble to the Asu~ciation, in the princip.ll sum of _FORTY THREE THOUSAND SEVEN HUNDRED AND NO/100 ~s 43, 700. 00 which note, together w~th interest thereon as therein specified, is p:ryable in monthly installments oE Ti~iEE I~UNDRED SIXTY SIX AND 74/100ths-------------------------------------------------------- -------------------------------------------------------------Doll ~ _ - - - ars (~_36 ..7. on the_ _.19th . y • g • A ril 19th, 1976 -------.which payments - - da of rach month commenc~n ~v~th - :~re to be appUed, first to interest, und the balance to principal, until said indebtedneu is paid in full, and shall perform, oomply with and abide by each and every the stipulations, agreements, conditions and rnvenants of said promissor~ note and thu mortgage, And, including any advances made by the Association to the Martgagors, or their succ~csors in tidr, for any purpoae, at any time before the mlease and cancellation of this mortgage, but at no time shall this mortgage secure advances on account of suid original note together with such additional advances in a sum in excess~of__FORTY THREE THOUSAND SEVEN HUNDRED AND NO/ 100ths----------- 43, 700. 00 - ~ - - - . bollars (S - - plus any advances necessary to protect the security and costs, ihen this deed and the estate hereby createcl shali cease and be null and void, AND THE :1iORTCAGOAS DO hereby euvenant and agree: 1.- To pay all and singular the princi~a1 and interest and other sums of money payable by virtue of said promissory notc .~nd this mortgage, or either, prompNy on the davs respectively the same severally come due. 2. To pay all and singular the ta~ces, assessments, levies, liabilities, obligations and incumbrances of every nature and kind now on said described propedy, or that hereafter may be imposed, sufEered, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon this ~fortgage, or the indebtedness secured hereby, cach and _ every, when due and payable; € :~ccording to law, before they be~.~ome delinq~~ent, ancl before any interest attaches or ~ny penalty is incurred; and insofar :?s any thereof is of record the same s1k111 be promptly satisfied and discharged of record and the original official document (such zs, for instance, the tax recelpt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Association as ~iortgagee within ten days next after paymeni; and in the event that any thereof is not Iraid, satisfied and discharged, said Association may at any time pay the same or any part thereof ~vithout waiving or affecting any option, lien, equity or right under or by virtue of this ~lortgage, and tlie full amount of each and every such payment shall be immecliately due andpa yable and shall bcar interat from the date thereof until paid at the r?te stateci in the note seci~recl hereb~• and together with such inter- ~st shall be secured by the lien of ihis 114ortgage. _ ~ 3. To keep the buildings xnd all equipment and personal property now or hereafter on uid premises rnvered by thiu tnortgage. ' insured in a sum equal to at least the amount o[ the mongage. or an amount suf[icient to comply with any co-insunnce reqnire- ; ment covering the same under the l~ws of the State ot Florida. rnvering loas lrom both fire and storm, making the loss under said ( E,olicies, each and e~•ery, payable to the Association, as mortgagee. as itt interest may apptar. and said insunnce shall be in a goai ~ and resporuible insunnce company saeistactory [o said Association, and written br a responsible local agent satu[actory to said Asso- ~ i ciation; and the policy or policies shall bear a standard mortgage dause without tontribution, and, if the original princiPal amount o[ the mortgage u Fitty Thousand and no/ 100 Dollars (550,000.00) or in excas thereo[, shall be held br the Aasociation, and. in ; ' the event any sum o[ money becomes payaLle under such policy or policies. the Association shall Iuve the option to receive and apply : the same on account oE the indebtcdnrss hereby secured, or to permit the mongagors to receive and use it, or any part thereof. for other purExues, without thereby wairing or impairing any equity, lien, or right under and by virtue of this mortgagE. and may i place and pay for such insurance, or anr part thereof, without waiving or affating its option to forecloae, or any right hereunder. t ' aud the full amount of each and every such payment shall be immediately due and payable and shall bear interest irom the date i ~ tt~ereof until paid at the nte stated in the note secured herebr and togeeher with such intereat shalt be secureei by the lien ot this ; ' \tortgage. E ~ ~ T'o permit, commit, or suffer no waste, impairment or deterioration of s:iid propert~~, or any part thereof, and upon ; ~ t1~e failuro of the mortgagors to keep the bi~ildings on said propert~ in good condition of repair, the Association may demand the ~ i~nmediatc re~ir of said bu:ldings or the immediate repayment of the debt hcreby securecl, and the failure of the mortgagors to rnmply with said demand of the Associltion for a period oE Thirty (30) days, shall constitute a breach of this modgage, ` and, at thc option of the Association, immediately mature the enGre amount of principal and interest hereby secured, and the ` ~ :lssociation, immediately and without noticr, may institute proc:e,~edin~s to foreclose this mort~age and app1~~ for the appoinhnent ~ ~ ~~f a Receiver, as hereinafter pmvided. ; i. This mortgage contract provides for additionul advances which may Ue rnade at the option oE the assoeiation and ` ~ecured by this mortgage, and it is agreed that in the event of such advances the amount may be added to the mortgage debt ~ and shal) increase the unpaid 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 contract as fully as if a new such note and contract w•ere executecl ° :~nd clelivered. An :idditional advance agreement may b~ given and accepted fer such advance and provision may be made for : rli(ferent monthlv payments ancl a different interest rate and other express modifications of the contract, but in all other respects , _ ihis contract shall' remain in full force and effect as to said indebtedness, including all advances. f 6. If any of the sums of muney herein refeaed to be not promptly and fully paid w•ithin Thirty (30) days next after 4 E t}ie same severaUy come due and payable, or if each nnd every the stipulations, agrcemEnt, conditions, and covenants of said ; promissory note ancl this deed, or either, are not duly performecl, 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 mortgagc 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 w•as originally stipulated to be paid on such dav, anything in said promissory note or herein to the contrary not- ~ withstanding. ' s ' 7. To deliver to the Association, on or before ~iarch 15th, of each year, tax receipts evidencing the payment of all la~r- ~ ~ fnlly im~osed taxes for the prerecling calc~dar year, to deliver to the Association receipts evidencing the payment of all liens j t for pubfic improvements within ninety (90) days after the same shall txacome due and payable, and to pay or discharge within - ninety (90) davs after due date, anv and all govemmental levies that may be made on the mortga~ed praperty, on this mortgage ~r note, or in any other way resultin~ From the mortgage indebtedness secured by this mortga~e. ~ F - . $ r; i E-;~ 25U ~~i"10 ~ : F, ~ ; -i li s _ 'r y'' 'k. ~ -,n _ ~r"S~f~'`.,vF-_~~. _ . ~at',-r~n~; ~