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Home My WebLink About0670 . at aU timespe ace~ably and quiedy to eater upon, hotd, occupy and enj~>y ssud land; that sr~id land 'u free from aU encumbrances: that they wiU make such fucth~ assurances ~o pmfed the Eee simpM title to said land in the Aasociution as may reasonably be required; nnd that they do bereby fully warrant the titln to said land ar.d wJl defe~d the same against the lawful claims of ~ all persons ~vhomsoevcr. PROVIDED AL\VAYS that if thc 1liortgagors shall well und truly pav unto the Associatian, thc i~ciebtc~cinc~ss evidenc~ed by that ce~tain promissory note, of even date hezewith. made by the Mortgagors and payable to the Association, in thc prinripai TWENTY ONE THOUSAND SEVEN HUNDRED AND NO/ 100ths a 21, ?00. 00 ~ sum of . - . _ ( ~~hich note, together ~vith interest thereon as therein specified. is p:?yablc in monthly installments oE 0~ ~NDRED SEVENTY EIGHT AND 42/100ths------------------------'----'-----------"-------- - - 8. 42 --------------------------------~-----------------------------~llars (s _ 1? _ _ _ . . _ June lOth, 1'976 W~h on the ---.lOth .day of each month commencing ~vith_ _ - - PaYm ;ue to be :~pplied, first to interest, and the balance M pripcipal, until said indebtedness is paid in fiill, and shall perforn4, oomply with und abide by each and every the stipuL3tans, agreements, conditions and covenants of said promissory note and thu mortgage, And, includ'u~g any advances made by the Association to the ~iortgagors, ar their suocessors in titlC, for any purpose, at anv time before the release and cancellation of this mortgage, ~ut at no time shaII this mortgage secure advanms on account oE s:iid original note together ~vith such additional advances in a siun in excess of_ TwENTY ONE THOUSAND SEVEN_HUNDRED.AND NO/100ths-------_-_--.--~~la~ (s_21,.~00.00 p~~ ~y advances necess~n ro protect the sec?uity and costs, then this deed and the estate hereby createcl shall cease and be null and void. AND THE AtORTGAGORS DO hereby cvver.ant and agree: ~ 1. To pay all and singular the principal and intemst and other sums of money jrayabk by virtue of said promiswry note and this mortgage, or either. prompdy on the days respectively the same severally rnme due. 2. To pay all and singular the taxes, ass~ssments, levies, liabilities, obligations and incumbrances of every nature and kind now on said described praperty, or th.zt hereafter may be unposed, sufEered, placecl, levied, or assessed thereon, or that hereaher may be levieci or assessed upon this :lfortgage, or ihe indebtedness securecl hereby, cach and every~ when due and payable, :~cconling to laH, before they become delinqu.nt, and before any interest attaches or nny penalty is incurred; and incflfar :u any ihereof is of record the same s1k111 be promptly satisfied and discharged of record and the original oEficial document (such as, for inctance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Association as ~tortgagee w~thin ten days next after Irayment; and 'u~ the event that any thereof is not paid, satisfied and discharged, said Assaci.ltion may at any time pay the same or any part thereof ~viihout waiving or affecting any option, lien, equity or ri t under or by virtue of this \iortg~ge, and the full amount of each and every such payment shall be immediately due a.~dpa ya le and sha11 bear interest from the date thereof until paid at the rate stateci in the note secured hereb~- and Yogether with such inter- est shall be secureci by the lien of ihis biortgage. 3. 'To keep the buildings and all equipment aad personal property now or hertafter on said premi~es cov~red b~ this mortgage. insured in a sum equal to at least the amount of the mortgage, or an amount sutficient to comply with any co-insuranct require- ment covering the same under the laws of the Stste of Florida. mvering loss (rom both (ire and storm. making the loss under uid policies, each and every, payable to the Association, as mortgagee. as iu incerest may appeu. and said insunnct shall be in a good and respotisible ~ltsurance company satis[accory to said Association, and written by a responsible local agent utis[accory to aaid Asso- j ciation: and the policy or policia shall bear a standard tnortgage dause without contribution, and, if the or,ginal principal amount o[ the mongage is FiEcy Thousand and no/ 100 Dollars (550.000.00) or in excess thereof. shall be held by the Association. and, in ~ the e~~ent any sum of money becomes payable under such policy or policies, the Associa~ion shall h~ve the option to receive and apply ( che same on account oE the indebtedness hereby secured, ~r .tapesmit the mortgagois to receive and ux it, or anX part thamf, for ~ other purposes, wichout thereby waiving_or impairing any equity, lien, or right under and by virtue ot this mortgage. and m~y place and pay tor such insurance, or any part thereo(, without wai~~ing or affecting its option to iotrdoae, or anr right hereunder. and the {ull amount of each and_e~•ery wch pa}~ment shall be immediately due and payable and shall bear interest Erom the date thereo[ until paid at the rate swted in the note secured hereby and eogether with such interest shall be secured by the lien oE this rfortgage. ' 9. To permit, commit, or suffer no waste, impairment or deterior.ition of said propert~•, or :my part thereof, and upon ~ tl~e failuro of the mortgagors to keep the buildings on said property in ga~d condition of repair, the Association may demand the ~ i~nmediatc repair of said buildir.gs or thc immediate mpayment of the debt hereby secured, and the failure of the mortgagors ~ to comply with said derr;and of the Association for a period of Thirty (3Q) days, shall constitute a breach of this modgage, and, at thc option of the Assoriation, immecliatelv mature the entire amount of principal and interest hereby secured, and tbe ~ :lssociation, immediately and without notice, may institute proceeclin~s to foreciose this mortgage and applv for the appointment , of a Receiver, -as hereinafter pmvidecl. . ; ~ a". This mortgage contraet provides for additional advancrs which may be made at the option of the association atxl ~ secured by this mortgage~ and it is agreecl that in the event of such advances the amount may be added t~ the mortgage debt ~ and shall increase the unpaid balance of the note herehy secured by the amount of such advance and shall be a part of said ~ note indebteclness under all the terms of said note and thu contract as fully as if a new such note and contrict H•ere execnted ; $ and delivered. An additional advance agrecment ma~• be given and accepted for such advance and provision may be made for i ~ different monthlv pa~•ments ~nd a different interest rate and other express modi(ications of the contract, but in all other respectc j ~ ihis contract sh.ill remain in full force and effect as to said indebtedttess, including all advances. ~ ; 8. If any of the sums of maney l:erein referred to be not promptly and fully paid within Thirty (30) days next after ~ the same severally rnme due and payable, or if each and every ihe stipulations, agreement, conditions, and covenunts of said ~ promissory note and this cleed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned ; in said promissory note and any other amount or amonnts added to the mortgage indebtedness under the te~ms of this aartgage ~ shall become duc and payable forthwith or thcreafter at the option of the Association, as fully and completely as if said aggregate ~ sum of money was originally stipi~iated to be paid on such day, anything in said promissory note or herein to the contrary not- ~ ~vit}utanding. ~ 7. To deliver to the Association, on or before ~farch l~th, of each ye:ir, tax receipts evidencing the payment of all law•- ~ fully impo~d taxes for the prececling calcndar year; to deliver to the Association receipts evidencing the payment of all liens for pvb~ic improvements ~~thin ninety (90) days after the same shall hecome due and payable, and to pay or discharge within = ninety (90) days after due date, any and al) governmental kvies that may be made on the mortRaged property, on this mortgage ~r note, or in any other way rcsultin~ from the mortgage indebtednes.a secured bv this mortgage. ~