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Home My WebLink About1844 . • - ~ . ~ ' S 12,000.00 Palw Beach County. Florida.Januarv 17, 19 72 • Fi)R VA4UE RECEI~'E~ ,he undersigned proAises to pay to the order of E. W. CQPPAGS atld R. SMTTZ the principal suo of -----------TWELVE THOUSl~ND l~?I~TD NO 0 DOLIA (512.~U0_OQ ioget er ++it interest t ereon .-on~ a e. at t e rate o per cent~ per annui un i nat~irity, said rinci ai and interest being ayable in lax u money o the United States or its eyuivalent, at ~00 S. ~ifgl~way #~1, ~,ake Park FloY'ida 33403 ?n monthly insta aents o eacTi on o~beTore t e ~~17t~ ay o eac an every month heginning Februa . and continuing until sai~principai sue~ of S ~ oget er ++ith accruea~interest has been fully paid. e ma ers an en orsers hereof~ reserve the right to prepay an.• portion or the entire halance of this obligation at any time ~ithout pa>'ment of premiun or penalty. ~ The makers and endorsers hereof shall have a period of ~5 dayc grace on payments of F~rinci~al and interct. I:arh naler and endorser ceverallv waives demand~ protest and notice of maturity, non-p~yment ~~r ~rotest and all requirements necessary to hold each of them ?iable as makers and endorsers. E:a:h mai,er and endorser further agrees. iointly and ,everall.•, to pay all cost of collection in~lud~nR a reasonahlc attorney's fee in case the principal of this notc or any payment on the ~rincii~al or any interest thereon is not paid at the respective maturity thereot. or in case it hecor~es necessary to protect the security hereof. xhether suit be brought or not. This note and deferred interest payments shall hear interest at thc rate of per cent~ rer annum from maturity until paid. Thi~ note is secured by a F1rS t mortgage of e~~en ~iate herewith and is to be construed and enforced according tothe lavs o t e.tate of Florida upon deEault in the payment of principal ~ and/or interest due on any note secured by said mortgage. ~11 notes so secured and remaining unpai~l sh3l1 forthwith bccome due and payable notxithstanding thcir tenor. ~ i SEAi_1 (SEAL) _i~EAi.) _;~,~rt;n •T CdSSldx (SEAI.) e and shall duly, promptly and fully perform, discharge, execute, effect, complete, ~omply with and abide by each and e~~erv the st~pulations, agreements, condiUons and covenants of sa~d prom~saory note and of ttus mortgage, then thls mor:gage and the estate hereby created sh:ill cease and be null anu void. It is understood that each of the wonis, "note," "mortgagor" and "mortgegee" respectively and the oron- ouns refernng thereto, whether in the s~ngular or plural anywhere in thla mortgage, ahall be singular )f one only ' and ~hall be plural jointl} and severally, if mure than one, end shall be inasculine, ferrunine and/or neuter, wher- . . e~•er the context so implies or admits. j And sald liortgagor for himselt and his heirs, legal representatices, successors and assigna, hereby coven- ant~ ana agmes to and with aaid 1?fortgagee, his legal representatives, successors and assigns: { - ~ 1. To pay W and aingular the principal and intereat and the various and aundry auma of money payable by E virtue o[ said promissory note, and fhia mortgage, each and every, prompUy on the days respectively the same i aeverally become due. _ 't. q 2. To pay alt an~ singvlar the taxes, asse~Sments, levies, liabilities, obligations and incumbrancea of every 1 nature and kind now on said descrjbed property, and,~or that hereafter may be imposed, auftered, placed, levied fi or assessed thereupon, and/or ihat hernafter may be levled or ass~ssed upon this mortgage and%or the indebted- ness secured hereby, each and every, v~ hen due and payable according to law, betore they become delinquent, ; and before any interest attaches or any pennliy is incurred; and in so far as any thereof is of record the same ; shall be prumpUy satisfied and discharged of record and the onginal of[icial document (such as, for instance, ? ;he tax receipt or the satisfaction paper officia0y endorsed or certified~ shall be placed in the hands ot said ~ ~iortgagee Klthin ten days next after payment; and in the e~•ent that any thereot is not so paid, satisfied and ~ discharged, said 1ltortgagee may at any time pay the same ar any part lhereo[ w-ithout wai~~ng or affecting any optien. lien, equity or right under or b~ ~-irtue ot this mortgage, and the full amount of each and every ~ such payrneni shall be immediately due and payable and shal! bear interest from the date thereof unEil paid ° at the rate of ten per certturn per annum and to~ether w-ith such interest shalt be secured by the lien of this ~ mortgage. ~ ~ 3. To place and cont~nuously keep on the buiidin~a now or hereafter attuate on said land fire and windstorm ~ ~ insurance in the u~ual standard policy form, in a sum n~t less than t F111.L...lILS.llr~.l@...Y.Sl.if~such com- pany or comp~~~i~,s as ma} be approved by said 1lfort~;a~ce; and all such insurance policies on any of said build- ` mgs, any intere9t therein or part thereef, in the aK~reKa[e sum atoresaid or in excess thereof, shall contain the ~ usual standard m~rt~agee davse makEnR the luss ur.der sa~d policie~, each and e~•ery, payable to said Atortga- g gee a~ his interest may appear, and each aaJ e~•ery su~~h policy shall be promptly delivered to and held by esid ~ riortRagee: and, not less than ten days in adti•an~e of the expiration ol each policy, to deliver to sald MortRaRee ~ a renetval thereof, toqether with a receipi tor the premium nf vu~h renewal: and there shall be no such insur- ~ ance placed on any of ~aid buildinKs, any ~nterest therein or pArt thercof, unless in the form and with the losa payar,le as aforesaid: and in the e~•ent any sum of money b~comes payeble under such policy or policies said Mortr.;aRee shall ha~•e the opti~~n to rece~~~e and apply the same on account of the fndebtedness securecf hereby or - to rermit sa:d :KortRaRor to recei~•e and use it or any pxri thereot for o[her putpose~ without thereby waiving or impairing any equity. ilen or rKht under or by virtue of this mortgage; and in the event said Mortgagor shall for any reason faii to keep the sa:d prer?u9e; so inQur~d, or fail to deliver prompqy any of said policies of - insurance to sa~d ~t~rtga~ee. or fail promptly to p:?y fully any premium therefor, or in any reaF?ect fafl to per- form. discharRe, exe~ute, etfect, complete, comply w-ith and abide by thia covenant, or any part hereof, aaid Mortg- nReP may place and pay fr~r such insurance or any part therent without v~aiving or affecting any option, lien, ~ equity or nRht under or by ~•irtue uf this mort~age, and the fuil amount of each and every euch payment shaU be immediately due and pa>•able nnd shall bear intPrest from the date thereot until paid at the rate of ten per centum per annum and together with auch lnterest shall be aecured by the lien of this mortgage. ~ 4. To permlt, commit or aufter no waste, fmpairmeni or deterioration ot asld property or any part thereof. - b. To pay all and aingular the co~ts, charge~ and expenses, including resaonable lawyer's feea and co~t ot abatracts ot title, tncurred or paid at any time by eald Mortgagee because and/or !n the event of the fatlure on the part ot the ssid 1?tortgagor to duly, promptly and Rilly peKorm, discharge, execvte, effect, complete. = comply vvith and ablde by each and every the stipulationa, agreunents, condiUons and covenantt of aaid promla- sory note, and thi~ mortgage, any or efther, and aald costs, charges and eapec~ses, each and every, ahsll be lm- mediately due and payable, whether or not there be notice, demand, attempt to coliect or ault pending: snd the full amount of each and every such payment ahall bear fntereat irom the date thereoi untll paid at the rate ot ten per centum per ~nnum; and all eafd cwte, chargei snd expeases w incurred or paid, Wgether wlth auch !n- terest, shal! De secured by the lien of thls mortgage. B~~K 199 ~~~E 1~43 y;