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Home My WebLink About0914 at aU Nmes praceably and quietly to enter upon, twld, ocrupy and cujoy suid 1.?nd; that said lau~d is free from atl e~cumbrances: !hst they wil) make ~~ch further assurances bo pe~fed tbe fee simple title to satid land in the Associ~tion as may rexsonably bc required; and that they do hereby fuUy warrant the tide to said land and wiil defend the same ng:~inst the Inw(ui ciaims oE :?il persons ~vhomscever. ~ PROVIDED AL~VAYS that if the ~lortgagurs shall wep and truly pay unto the ~ssociation, the indebtedness evidenced by that certain promissory note. of even date herewith, made by the Mortgagors pnd payable to the Association, in the principal . r`Vii,`i'Y ~l~~t'cr.~ 'Ti~i3Uar'1NI3 ni: ;::J/1Qfl#:~~---------------- Do1i•~rs ~g `~3; 000, 00 j. ,um of - . _ . . «~hich note, together with interest thereon as thcrcin specified, is payable in monthly installments oE ~terest payments due on July 1, 1976, August 1, 1976, September 1, 1976 and then THREE HLTNDRED FIFTY THREE AND 53/100ths------------------------------------------------•--- : 353.53 _ _ . . . l~ollars ( s . . _ - on the_ _ l st day of each month cv~mmencing ~vith Oetober l st, 1976 which payments - - - are to be applied, f'vst to interest, and the balance to principal, until said indebtedness is paid in full, and shall perfornu, eomply with and abide by each and every the stipulations, agreements, conditions tutd covenants of said promissory note and this mortgage, And, including any advances made by the Association to the Nortgagors, or their successors in titlr, for any purpoae, at any time beEore the release and cancellation oE this mortgage, but at no time shall thic mortgage secure advances on account of said original note together ~vith surh additional advances in a sum in excess of___ FORTY THREE THOUSAND AND NO~100ths---------_-----_--------------~ollurs (s 43, 000.00--), plus any advances necessan~ - - - - - to protect the sec~Uity ssnd costs. then this deed and the estate hereby created shall cease and be null and void. ~ AND THE 11fORTGAGOAS DO hereby eu~enant and agree: . ~ 1. To pay all and singular the principal and interest and other sums of money pa~•able by virtue of said promissory notc .~ncl this mortgage, or either, promptly on the days respectively the same severally come due. 2. To pay aU and singular ihe taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind no~v on said described property, or that hereafter may be imposed, suffered, placecl, levied, or assessed thereon, or t}iat hereafter may be levied or assessed upon this ~ivrtgage, or the indebtedness securecl 1?ereby, cach and e~•ery, ~vhen due and payable, .~ccording to lz~v, be[ore they beeome delinquent, and before anv interest attaches or :inv penalty is incurred; and insofar ;u :+nv thereof u of record the same sl~all be promptl~ s:itisfied and discharged of record and the original officiai document (such 1s, for instance, the tax receipt or the satisfaction paper officially endorseci or certified) shall be placed in the hands of said :lssociation as ~iort~agee ~vithin ten da~~s next nfter pa~~ment; and in the event that any thereof is not paid, satisfied and discharged, said Association may at any time pa}' thc same or an}' p~ thereof ~vithout waiving or affecting any option, lien, equitv or right imder or bv ~tirtue of this \lortga~e, and the full amount of each and every such payment shall be immediately due andpa yable and shall t~ear interest [rom the date thereof until paid at the r:~te stateci in the note secured hereb~• and together with s~ch inter- c•st shall be seeurecl by the lien of this l~iortgage. 3. To keep the buildings and all equipment and penonal property now or hereatter on said premises covered by this mortgage. insured in a sum equal to at least the amount o[ the mongage, or an amount sufficient to mmply with any co-insunnct require- ment covering the same under the laws o[ the State of Florida, covering loss trom both fire and storm, making the loss under said policies, each and every, payable to the Association, as mortgagee, ac its interest may appear, and said insurance shali be in a good 2nd responsibte insurance company satistaceory to said Association, and written by a responsible local agent satis[actory to said Asso- ciation: and the policy or policies shall bear a standarcl mortgage dause without tontribution, and, if the original principal amount of the mongage is Fitey Thousand aud no/ 10(? Dollan (550,000.00) or in excess thereef, shall be held by the Association, and, in ' the e~•ent any sum ot money becomes payable under such policy or policies, the Association shall have the option to receive and apply f the same on ucount of the indebteduess hemby secured, or to permit the mongagon to receive and use it, or any pan thereof, for ; other purExues. without thereby wai~•inR or impairing any equity, lien, or tight under and by virtue ot this mortgage, and may ~ place and pay tor such insurauce, or auy part thereo[, without waia•iug or atfecting its option to foreclose, or any right hemunder. , and the [ull amount of each and e~•ery such payment shall be immediately due and payable and shall bear interest from the date i tt~ereot until paid at ehe rate stated in the note secured hemby and cogether with such interest shall be secured by the lien of this ~ ~iortgage. ~ -1. To permit, commit, or suffer no K•aste, impairment or detcrioration of ~id propert?•, or any part ihereof, and upon ~ thc failure of the mortgagors to keep ihe buildings on said pmpert}~ in good candition of repa'u, the Association may demand the ; irnmerliatc repair of said bu:ldings or the imrrn~diate repayment of the debt liereby securecl, ancl the failure of the mortgagors , ~ tn comply ~vith said demand of the Associ.ltion for a period of Thirty (30) days, shall constit~te a hreach of this mortga~e, i ~ and, at thc option of the Association, immediately mah~re the entire amount of principal and interest hereby secured, and the ~ :~ssociation, immediately and ~vithout notice, may institute proccedin~s to foreciose this mort~age and appl.• for the appointment ' ~f a Recei~•er, as hereinafter providecl. ~ ~ i. This mortgage contract provides for additionxl advancrs which may be made at the option of the association and ~ Secured bv this mort~age, and it is agreed that in the event of such advances the amount may be addeci to the mortgage debt ~ and shall increase the unpaid balance of the note hereby secured by the amount of such advance and shall be a part of said ~ note indebteclness under all the terms of saici note and this contract as fully as if a new such note and contract a-ere executed ~ und delivered. An additional advance agrecment ma~~ be given and accepted for such advance and provision may be made for ~ ~ cliFferent monthlv pat•ments ~nd a different interest rate and other express modifications of the contr.~ct, but in all other respecLs ~ ~ ?his contract shall remain in full force and effect as to said indebtedness. including all advances. 6. If anv of the sums of money herein referred to be not promptly and fullv paid ~+~thin Thirty (30) days next after the same severally come due and payable, ar if each and every the stipulations, agrecment, conditions, and covenants of said ~ promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned in said promiscory note and anv other amount or amounts added to the mortgage indebtedness under the terms of this mortgage ~ shall become duc and pa~•nble forthwith or thcreafter at the option of the Association, as fully and rnmpletely as if said aggregate 1 s sum of money was originally stipulatecl to be paid on such day, an~~thing in said promissory note or herein to the contrarv not- ~ ~vithstanding. ' ~ ~ 7. To deli~•er to the Association, on or before \tarch l~th, of each }•esr, tax receipts evidencing the payment of all la~+•- ~ fiilly imposed taxes for the preccclin~ calendar ~•ear; to dcliver to the Association receipts evidencing the payment of all liens ~ for public improvements K•ithin ninety (90) d'ays aher the same shaA hecome 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 mort~age ~ ~r note, or in any other way rc>s~iltin~ from the mortgage indebtedness secured bv this mortRa~e. ~ F ~ 253 r~c~ 91~ ~ f ~ . . ~ ~ ~ ~ ~ ~yW * ~ ~....._u . ' ~ ~