HomeMy WebLinkAbout0233 ~ 7
TO HAVE AND TO HOtO the same, together with the tenements, hereditaments and appurtenances, unro the
Mortgag~te, in fea simple.
ANO the Mortgagor does he~eby covenant with the Mortgagee that he is indefeasibly seized of said land in fee simple,
that he haa full powe~ and lawful ~lght to convey said land in fee simple as aforesaid; that it shall be lawful for the
Mortgagee at all times peaceably and quietly to enter upo~, hold, occupy and enjoy said land; that said land is free
from all incumbra~ces; that he wili make such further assuronces to protect the fee simple title to said land in the '
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Mortgagee a: may ~easo~ably be required; that he does he~eby fully wsrrant the title to said land and will defend the `
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same against the lawful claims of all persons whomsoever.
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following in words and figures is a t~ue copy, to-wit:
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COMMUNITY fE~ERAI SAVINGS AND LOAN ASSOCIATtON OF RIVfERA sEACH
I ~IIx~~~~P ~D#P
~ RIVIERA BEACH, FLORIDA JLLZ}I 19 19 74
~ d~inp indebt~d, fw v~lve received, th~ ~ndcngned iointly snd sever~lly promise ~o p~y to COMINUNIiY fEOERAI s~?VINGS ANO
tOAN ASSOGIAiION OF RIVtERA BEACH ~t its offiot in th~ Gty of Riviera Be+ch, Florid~, or ader, th~ ~vm of FORTY FIVE
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THOUS~AND AND NO HtTNDREDTHS------------------------~ a45, 000.0 ~
j roye~i~ w~rh iors.es~ riK.eon as i+~reinaire~ st~re3 ~n ~inFy :ro~~~:.~~ r.€ T~:R~E HLTI~?L~RED ~IGI~TY F'IVF'
~ and 3 8/ 10 0---- oow?RS cs 3 85 . 3 8---- n~ f~ ~~f.o~„t ~,+u b. aw ~+a P.r.w. a, l Oth
! d.Y or AUGUST ~9 74 ,~a :~c.u~ ~+,n b. .~,d wr•a• l Oth
d~y of e~ch and evsry c~kr?dar month thereafm w+til tl~ priadp~l ~nd interest are fully pad.
i lup~r sums msy M p+id at aey time, but tF+~ payment of •ny such (srger sums tn sddifwn to tht p+yments herei~ req~i~~d ah~l1
! not relisve the maken of tM p+ymsnt of the monthly i~ut~llments here;n provided for, unku it is specHiully stipuiated by tM rn+bn ~t tM
j+ime of psymcnt that such laryer svms sre to be applied to ths advance psyment of fha manhly instsllmenb Mxt m~wrinp in th~ orde~ of
~~he"w due dates_ All psymenn made ~pon tha ~ote sh+ll be '~pplied firet to the p~yment of ~cuued intere~t and secondly i+pon tht Pr'r?ciW~-
~ This obliyation slull besr interest from d~te ~t the rab of nlrig and one fourth w~ 9. 25 x~
~ pe~ u~num until tht principsl snd ~merest an fully p~id
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I Interest for each ukndar month shall be acuued oe~ the fint day of said ma+th ~nd be computed on the unpaid balanu of prir+cp~l
I u~d imerest existing on the lut day of tht preceding momh. This note shall bt cauidered in defsult when ~ny p~ymsnt req~ind b be
~ made hereu~dcr shall r+ot h~ve been m~de within thirty dsys followinq its due dat~ and shsll remain in def~uh vetil ssid paymsM shdl
! Mv~ been m+de. Whik in defauft, th;s ~ote sMll bear inter~st at th~ r~te of 10',~. p~r annWn in lieu of tF+~ rate htreinbefw~ specifi~d.
~ All maken snd endorsen now or heresfter becominy parties h~rero iointly ~nd sever~lly w~ive denand, noY~u of oon~payme~t ~nd
; praat, and ayre~ that in the eveM of default in the payme*+t of ~ny inst~llencnt dw F~ereunJs~ the whok of s~id indebtedneu sFull there- .
j upon at the option of th~ holder, become immediatelp dw ~+d pay~bk, and if ttWS note beoomes in d~f+ult u~d 'a plxed in the ha+ds
I of +n ~norney for mllection. ~o p~y re~son+bk ~ttomey's fees and atl othe. cosn for m~kiig such colkdion.
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' This no~t may be pnpaid in whole or in pan st sn~ r'~ witlw~t pen~hy.
i s/_ J. Norman Pierce, II
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! ^s/ Frances V. Pierce t
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~ ~(itr~ note 'a secvred by • monppe of eve~ date execvted by the rmkers in fawr of Commw+ity federal Savu~g"s ~nd tosn Aun. ef Riviera Oeach)
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~ and shalf promptly perform, comply with, and abide by each and every the stipulations, agreements, conditions, and
~ covenants of said promissory note and of this deed, then the estate hereby created shall cease and be null and void.
~ AND the Morigagor does hereby covenant and agree:
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1. To Wy s~~ tM o~+nciwl and inter~s~ and othv wms d~wn~Y P+lable by vNtue of said prom~ssorY nob snd this mat9+~, or ~itha. W~P~b
on dw ct~ps .~sp~ctiveM, tM same s~v+r,ly ca~w d~w.
~ t io p+Y all and s~nqular the Naes. ~ssessmen~s. 1ev~ts. I~aMl~nes. oblgat~o~s ~nd ~ncun+brances o1 rvery nahxe on sa~o aescnDed propary exh and eve.y
when due ~nd payable xcwd~nq ~o law, be(we eheY become del~nq~.e.~+. ar.d ~f ~he same sh~ll no~ Ee wanprl~ pi~d tt~e Morrgaqee maY at any r~me eitMer befwe
o, a(~a deLrpuencv P+y ~he ssme w~thw~ w~~v~nq w s(~ec~~ng ~he oP~ion ~o fweclou. a anr nql~r hereunder, and everY paYmenr so made shall bear ~nrern~ }rom
~ •',e datt rhpeoi at the rue pov~ded ~n sa~d promnsay note.
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3. To keep the b~ildinqs and aIl eqvipment and personal property now 0/ FilfN~fN a, ss~d w~~ses, covered bY d+~s mutg~ge, inswed in a sum at Ie~st
~ eq~al to rhe vnpa~d balance of thts mortgage, incl~ding fire, flood, e,~tended coverage, vandalism, ma?icious mixh~ef, and any other coveraqe required by fhe
mortyagee, as to properiiet other than dwellings, and fire, Flood, eatended coveroge, special-fam other•pe~ils insurance, and any other toveraqe req~ired by
the mortgs9ee, on dweltirgs el~gible for s~ch broadened covers9e - prwided, howevc~, tha~ such ins~rance be in an amovnt wfficient ro complY w~tA anY co-
= insvrance requiremenn coveriny same under the laws of tl~e State of Fbrida, anA provided f~rther that Me policy w policies shall be writren in a compsny w
i companies and thro~9h an sqency satisf~ctory ro the Mo~tqagee and tha~ said Dolicy w policies shall be held by the Monqagee and shatt bear s standard New
r Ywk Mortgaqee Cla~se without contribut~o~, mak~ng the loss ~nder, sa~d policies paysble to the Mor~gagee as its ~nterest may sppear; end ~n ehe event any wm
~ of money becomes payable ~nder any s~ch policy w policies, the JNortyaqee sha11 have the option ro rece~ve and apply the same w+ scco~nr of the indeb~ednesf wC
p
i+e~ekry secvred, or to pe+mif th~ Matqagor to rece~ve snd uu ~t, u any part thereo/, fw other p~rposes, w~tho~t nc~reby wa~v~ng or ~mpa~r~nq any eqvity, lien,
~ w right ~nder snd by virtue of this mwtq~ge; and in the event the Mwtgaqor does not wmply w~th tf~is covenam, ~he Mwtqagee may plxe and pay fu such ~
~ ~nsursnce, or any part thereol, witFwot waivinq or affecting the option to iweclose, w a~y riqh? hereunder, and the f~ll smovot of each and every s~ch psymenf ~
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' shsll be immediatety due and psyable, and shsfl bear interest from the dare thereof ~ntil paid st ~he rate prov~ded in said note and toqe~her with such inter~st ~
~ shall be secvred by rhe I~en of rh~s mw~gage. Inswance cover~ng the peril of flood damage shall be es requ~red br rhe iederal D~sssror Protecrion Act of 1973, /+1
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T w as +mcnded, snd mortgsgw cove~ants and a9rees ro comply in sll respects with the provis~an thereof.
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~ qagK y, y rg qaye term, and in ~1s discretion, apply fw rmewal of mort sge 9uaran ins~r~nce coveri ihe ~ ~
s 1. Thaf mort ma at an time duri the morf 9 W ^9
morrqsge e¦ecured by t~e .;nders~g~r! oc even date herewi~h, p~y the Wemivms d~e by resson theroof, and repwre repsymeni by the undersigned of sach
~ amo:nts as are advanced tr sa~d mortgaq!e. In the event of fail~re by the undersi9ned ro repay said amo~nts to ssid mwtya9ee, si+ch failvre sAall b~ coo- ~
~ sidered a defaulr, and all prwis~ons oi eh~ note and mortgaye wirh ~e9ard to defa~lt shall be appliuble. ~
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~ S. To pam~?, co~n~t a svff~r no w~st~, imp~irwiant or dNerior~tcon d uid P~~fY. «+^Y wrt tAereol. ~nd upon rM I~i{w~ oI tM mo~tpa9or ~o keep M»
bu~W~ngs on s~~d pop~rty in qood condtion ot rep~ir, tM Mwtp~qe~ may d~m~nd fM inwned~~e~ ~ew~r of srd b~~td;ny~, w~n :ncre~u in fM awa~nt of wcur~h, a~
eM imnwd~~~~ r~ptym~nt o/ Nw deM iurebp ucw~d ~nd tM f~ihx~ d M+~ Morty+vw to ca.wly wiM uid d~rrund o( tM Matpaq~e fw ~ p~riod of Minp t30)
x d~~s, sh~ll consrlw~~ • breach oI Mis ~+w.tp~p~. ~nd. rM op~iw~ of th~ Mon9sqN. 7mn»d~~qly rnhvr~ tM enrin ~moum of pincipal and intu~sf hereb~r
i~c~~ed, snd irn~e~~iNiy ~nd witAoul notic~. tM IVAw~papN rnaq imtiM~ poe~ed~nqs ro for~clos~ ~his maty~pa ~nd apply fu M~ ~ppoin~m~m o/ • R~c~iv~r, n
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