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Home My WebLink About0344 ~ ~ at aU timespeaceably and quiedy to e~ter upon, hold. ocrupy and ~~joy saul l,ind; that said land 'u frec from aU encumbr~u~ces: that they wiU muka such furth~ assutances to perfect the fee dmple titk to said land ia the Association as may reasonubly be required; and that they do bercby fully warrant d~e title to said land and ~vill defend t6e same against the lawful cluims of all perso~s whomsoever. PROVIDED AL1'VAYS thut if the Aiortgagon shall wetl and truly pay unto the Associution, the indebtedness evidenced by that certain promissory note, of ev~ date hcrewitb, made by the Mortgagors and payable to the Association, in the principal sum of __.FOUR_THOUSAND FIVE HUNDRED. AND _NQ~ ~OOth~--_-------pop~rs (a 4, 500: 00 which note, toge!her with interest thereon as therein specified, is p:?yable in monthly installments of FIFTY SEVEN . AND O1[.100ths--_-_--------------------------------.-------.-------.-------_-.----.----- Dollars ~ - - ~ - - - - - - - - - - (i - - 7 on the----2~% ----..day of each month cv~mmencing with-. ~JUly_ZU~?~__.19~~---------------------------------which paymer?ts ure to be applied, first to interest, and the balance to principal, until said indebtedness is paid in full, and sbaIl perform, oom with and abide by each and every the stipu~ations, agreements, conditions and covenants of said promiaory note and mortgage, And, including any advances made by the Assocjation to the Modgagors. or their suoc.~ssors in titk~, for any purpoae, at any time before the release and cancellation of this mortgage, but at no time shall this mortgage secure advances on accoant of said original note together ~vith such additional advances in a sum in eacess of__FOUR_THOUSAND_FNE_~._____ HUNDRED AND NO/_100ths--_---_----------_-- ~s__ 4~_500._00__..), plus any advances necessarv to pmtect the sccurity snd cosis, then this deed and the estate hereby createcl shall cease ancl be ~ull and void. AND THE MORTGAGOAS DO hereby cvvenant and agree: 1. To pay all and singular the principal and interest and other sums of money payable by vimie of said promissory note :?ncl this mortgage, or either, prompdy on tfie days respectively the same severally come due. 2. To pay all and singular the t+u?es, assessa?ents, levie~s,l;aLilitirs, ubligations and incumbrances of every nature and kind now on said dcscribed property, or that hereafter may be imposed, suffered, placed, levied, or assessed thereon, or that hereafter may be levied or assessed upon thu ~iortgage, or the indebtedness securc~ci hereby, cach and every~ when due and gayabie, :~ccording to law, before L~ey become delinquent, and before any interest attaches or any penalty is incurn~d; and insofar as any thereof is of record the same shall be promptly satisfied and discharged of record and ihe original ofiicial document (such as, for instance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placeii in the hands of said Association as ~tortgagee within ten days next after payment; and in the event that any thereof is not paid, satisfied and discharged, said Association-may at any time pay tl~e same or any part thereof ~vithout waiving or affecting any option, lien, equity or right under or by virtue of this ~iortguge~ and t6e full amount of each and every such payment shall be immediately due andpa yable and shall beaz interest from the date thereof until paid at the rate stated in the note sc~~red hereb~ and together with such inter- est shall be secured by the lien of this I~iortgage. - 3. To keep the buildings and all equipment and penonal property now or henafter on said prem~ses covered by this mortgage. insured in a sum equal to at least the amount o[ the mortgage, or an amount suEficient to tomply with any co-insuru~ce require- ; ment mvering the same under the laws of the State ot Florida. oovering loas fmm both fire and storm. making tht loaa under said policies, each and e~~ery, payable to the Associaeion, as mortgagee, as its interest mar appear, and said insurance shall be in a good and responsible insurance company sacis[aceory to said Association, and written by a responsible local agent utis(actory to said Asso- ~ i ciation; and the policy or policies st~all txar a scandard mortgage clause without mntribuuon, and, iE the original principal amount of the mongage is ~i(ty "ThousaRd and no/ 100 Dollars (s50,000.00) or in excess thereof, shall be held by the Associatio and, in the event any sum of money becomes payable under such policy or policies, the Association shal~ have the option to mceive~d apply the same on account o[ the indebtedness hereby secured, or to permit the mongagors to receive and use it, or any part thertiwf. for f other purpoaes, withoue thereby waiving or impairing any equity, lien, or right under and br virtue o[ this mortgage, and may place and pay [or such insurance, or any part thereof, without waiving or affecting its o~ftion to foreclose, or any right hereunder, and the full amounc of each and e~ery such payment shall be immediately due and payable and shall bear interest from the date thereoE unW paid at the rate stated in the noce secured hereby and together wieh such intetat shall be secured br the lien oE this 1?tortgage. • 4. To permit, commit, or suffer no w~ste, impairment or cleterioration of said propert~•, or :iny part thereof, and upon the failuro of the mortgagors to keep the bi~ildings on said property in good condition of repair, the Association may demazid the immediate repair of said buildings or the immediate mpayment of the debt hereby secared, and the failure of the morigagors to rnmply ~~~th said demand of the Association for a period of Thirty (30) d1ys, shall constitute a breach of this mortgage, and, at thc option of the Association, immecliately mature the entire amount of principal and interest hereby secnred, and the Association, immediately and without notice, mav institute proceedin!;s to foreclose this mortgage and apph~ for the appoin~?ent of a Recei~~er, as hereinaker provided. t S. This mortgage contract provides for additivn:?I advances which may be made at the option of the association and ; secured by this mortgage, and it is agreed that in the event of such advances the a:nount may be added to the morigage 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 indebtedness under all the terms of said note and this contract as fully as if a new such note :u~d contract were executed , and delivered. An additional advancc agreement may be given and accepted for such advance and prnvision may be made for different monthly pa}~ments and a different interest rate and other express modifications of the rnntract, but in all other respecLs ~ ihis contraM shall remain in full force and effect as to said indebtedness, incluciing all advances. ! 6. If any of the sums of muney herein referred to be not promptly and fully paid within Thirty (30) days next after ~ the same severally cvme due and payable, or if each and every the stipulations, agreement, conditions, and covenants of said promissory note and this deed, or either, aze not duly performed, complied with and abided by, the aggregate svm mentioned in said promissary note and any other amount or amounts added to the mortgage indebtedness under the te~ms oE this mortgage shall become due and paylble forthwith or thereafter at the option of the Asso^.iation, as fully ar~d cornpletely as if said aggregate sum of money ~vas originally stipnlated to be paid on surh day, anything in said promissory note or herein to the contrary not- withstanding. _ 7. To deliver to the Association, on or before ~iarch 15th, of each year, tax receipts evidencing the payment of all law- fully imposed taxes for the prececling calendar year; to deliver to. the Association receipts evidencing the payment of aIl liens for pub~ic improvements within 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 all govemmental levies that may be made on the mortgaged pmperty, on this mortgage or note, or in any other way resultinR fmm the mortgage indebtedness secured by this mortgage. ; t . ` r ~ ~5~ pacf 3~ ~ - ~ _ ~ . v. . . _ . ~ ~e ~ _ _ =