HomeMy WebLinkAbout0243 TO HAVE AND TO HOtD the same, together with the tenements, hereditaments and appurtenances, unro the
Mortgagee, in fee simple.
AND the Mortgago~ does hereby covena~t with the Mohgagee that he is indefeasibly seized of said (and in fee simple,
that he has full power and Iawful ~iyht to convey said land i~ fee simpie as aforesaid; that it shall be lawful for the
Mortgagee at all times peaoeably and quietly to enter upon, hold, occupy_ and enjoy said land; that said land is free
from all incumbrances; that he will make such fuNher assurances to. p?otect the fee simple title to said land in the
Mo~tgagee as msy reasonably be ~equi~ed; that he does hereby fully warra~t the title to said land and will defe~?d the
~ame aQairut the lawful claims of all pe~sons whomsoever.
PROVIDED, AIWAYS, that if the Mo~tgagor shall pay unto the Mo~tgagee the ce~tain promissory note of which the
following in words and figures is a true copy, tawit:
COMMUNITY FEDERAL '.t/?VINGS AND IOAN ASSOCIATION OF RfV1ERA dEACH
~~r#~~~e ~ate
RiwEw~ e~?a+. Kanw? July 24 19 ?4
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I beirg indebted. fa v~lut receiv~d, th~ u~dasgned 'lointly ~nd severdly promise ~o pay ro COMMUNIiY OERA 1 /1N0
I IOAN ASSOC1ATIpN OF RIVIERA BEACN ~t its oHias in th~ CM ~ R^rK''a ~Kh, Fbrida, a°~da+, ~ s~ d FO~T~ ~V~
~j T~-iOUSA~3D ~~iI3 ~3t3 I~UNI3REDTI~S-_-_-~_______--..--------- co~wRS a 45, 000.00 ~
'~oyet~ M,~+b iMCnst th~rea+ as herein~fta suted in ~wnthti? ~nst+l~ros o~ THREE HUNDRED EIGHTY FIVE 2uzd
i 3 8/ 100 ----~----ootuRS es 3 85 . 3 8---- TI+e f~n t uutd~n,em s~»D bs dw and pay.bl. oe the l Oth
; d•r d SEPTEMBER ~q ?4 «,d :~~.~+f ~~.t~~+~s ~?.n b. dw .~d P.r+a•- o~ l Oth
~ d~y of exh ae~d every uknda month ther~aim until tht princiP+l and interest an fuUy p~id.
luper sums may b~ paid ~t any tirtie. but the p~ym~nt of •ny such luger sums . in ~ddition ro th~ paYments herein eequved shdl
~ not relieve the mak~n of the payment of tM momhly installm~ntc hcrein provided fa, unku it is specilically st~pulat~d b1l the n~sk~rs ~t th~
~ r~me of payment that such la~yer sums are to be appl~ed to the sdv~nu psYmcM of the monthly irot~llments n~xt maturiny in
(~he~r du~ data. All psymenn made ~pon Ma oote sMII be applied fint ro the p+yment of ~causd interest +nd seoond~Y upa'
~I Tha obl~yatan sMI1 bear inte?est irom daa +t the nt~ of nine and one fourth pa an~ ( 9. 25
I, pe. ~nnwn until the principsl u+d interesf an fuliy paid.
f Interest for each ukndar month shall be xcr~ed on the fint day of said monlh and be computed on the ~^p+~d bala^cs of pria~
i aod in~Hest exat~n.- on the lut day of the preceding montl~. ihis note sMll b~ cons~dued in default when any P+Ymant ~qv~~ 1O ~
~ made hereunder sh+ll not h+ve besn' rrrdt vrithin thirty days folbw(ny its dve daf~ ~nd sh~Q ~tmain in def~uk uMil said p~Y~~t sh~M
! have been ~n~dc. Wh;k in dsfauh, this ~te sMll bear interest at the r~te of 10% p~r annw~+ N+ ~ieu of ti~ rats henMbefore sVecif~d- :
I All maken snd endorsen now o? hsreaheS becomirg putiss herero jantly ~nd sever~lly waiw dcnx~d. not~oe of ewo-WY^+~^~ +^d £
; protest, and apree that in the event of defauh in the paYme^t of any antalhncnt du~ henunder the whok of sa;d indebtede+es~ sMll therc
; upon at tf~e option of tha holder, becoene immed'utely dw and paY+bk, +^d if this note becomes a~ defwlr ~+d is p1+ced w+ t1r Fwr~d~
~ of ~n anorney fw cofkction, to paY re+so^~bk attorney's fees and all other costs for R++kiny such colledion.
j Tha nole en~y be prtpaid in whole or im part at snr time without Pe^~hYBI T1TY1 P. Garvey .
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' ( • s / Judy Garvey
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~ i(ihis note b secvred by • mwt9pe of even date exccvted br the maker~ ~n fawr oi Con+nwnity Federat Sav'a~p's and Lwn Assn. of R'nie~~ dea~d~)
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~ hall rom tl rform, comply with, and abide by each and every the stipulations, agreements, cwxl~twns, and
and s p p y pe
covenants of said promissory note and of this deed, then the estate hereby ueated shall cease and be null and void.
AND the Morigagor dces hereby covenant and agree:
1. To P+r all and sinyul~r tlr WinriO+~ +nd inNrdt ~nd oNwr sums d monep P+v+~ bY virfw of s~id P~anissary noN snd tFus mwt9~9~, or eitlw. P~PNI~
on IAe d~ri retp~ctiveM, tM samt sMrs{ly conr du~. j
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7 To wr alt snd s~~q~.lw rhe H.es. assessmen~s, le~~es. I~aMl~~~es. ob1~9~~~o~s ~nd u~cwnbrsnces of rvery na+we on s~ra oescnDed WoP~~h each and everr
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.Yhen due and O+v+~le xcad~ng ~o law, befo`e rAey becane del~na,em, and ~he sa~ne sMll no~ be woTv~~r w•d ehe MorM+9ee ~*+y ~r snY ~~me e~tl+er Defwe
~ o. al~ det~nquencv wY s+~ w~~houf wa~v~~q a~iftcnnq Me opr~on ~o fweclose. a anY n9h~ Acre~+^der, and everY Wv~+~*~ ~'+1~ ~ Mteresf lrom
~ rhe dare ~hereo( ar ~he r~re aor~ded ~n ss~d pom~saay ~ae
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3. To keeD the b~ildinys snd all eq~ipment and persu+al property now a he~eafter on xid prem~xs, coverod by th~s mortqsqt. i~wred in • su~+ a~ teast
eq~al to Me unpaid bal~nce of tl~is mortgsqe, inctudinq fire, flood, e~tcnded coverage, vsndal~am, m+l~c~ovs miuh:ef, and any other coveraqe reqvired by the
mortysgee, as to pope~ties other than dwell~ngs, and (ire, flood, eatmded coverage, special-fam otlkvptrils inwronce, snd af+r otl+er coveraqe reqv~red by
the mortyaqee. on dwellinqs eliqibie for s~ch bo+de~ed coverspe - povided, howerer, that svch ~nswance be in sn sma+nt wff~c~cnf ro comDly wiM sny co-
inwrsnce re4~irements covering same u~de~ the laws of rhe Sfate of Floi~da, and pro+~~ded furtF~ rhat Nrc pol~cr a oo~K~es sl+all be w.nten ~n • cornpany o~
~ companies and thrwqh an ayency satis(xtwY to the Mortysyee and that ss~d PolicY a oolicies shatl be held by ~he Mwtgayee snd sMll besr • standarQ New
Yak Mortg+gee Cla~se without conniburion, mak~ng the loss under said polrcies psYable ~o the Mwtqagee as ~rs ~~trest may appesr; snd ~n rhe eve~t any :um
~ of moneY becomes WYable u~der a~y such policy a polic~ea, the Mortqsqee shall have the oDtia~ ro rece~ve and apply ~he sa~+e w+ xcour~r of the indebredneis
hereby secwed. a to pe~mir tM Monqsyw ro receive and use ~t, or any pa~? thereof. fa other purposes, w~thour thereby wa~~~ng a~~wa~r~Rq a^v ~v~~h. IK^.~C
~ w riqht v~der and by virtue of this mortgsye; and in the event the Mwlgagw does ~ot comply w~th th~a covenant, the Margaqee may plxe and pay fw s~cho
insur~nce, or any part thereof, without wa~vin9 u affect~ny the option ~o fweclose, w anY ri9ht I~e+a+nde~• and the full amov~t of exh and every such paY~+ent~~
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shall be immediately d~e and paYable, and shall besr ~nterest irom rhe date ~hereof ~ntil p~id ~t the raee p~ov~ded in ss~d nore s~d ~oqerher w~M s~ch in~erest
~ shall be setured by tM lien of this mortgage. Insursnce cover::~y the peril of flood damags sAalf b~ as rcq~~red by H+e Federal D~ssster Proten~on Act of 1473,~
w ss amended, and mwtgagw coversants and agrees to canph in all respects witl~ the provisio~s thereof. O
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W 1. Thst morlgagee may, at any t~me durinq ehe mwtyspe term, and in its discretion, spp1Y fw renewal of morfgsge 9wranty inuxu~ce covering the D
~ resso~ r~ereof, snd reqv~re repayment by the wde.s~yned of such c'~
~ morrgeqe eaec~ted by the ~~dersigned on even date herewith, paY the prom~ums d~+e bY r'+
ama.,nts as are advanced by said mortgaqee. In the evem oI fail~re by the ~ndersigned to repay said amaw~?s ~o said mort9syee, sirc6 failwe sha~~ be co~-
s~dered a default, and all provisions of the no~e a~d mortgsge with regsrd to defwlt shall be app~~csble.
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5. To p~rmlt, co+nmit w avffa no wuu. imq~r~t a d~te.lonrion d raid DropNty, a x~y v+~~ a~ ~ failw~ d tM ~w+p~0a a k~ep ~
bvildmqs on s~id P~~~ in qood cond~eion o} N~ M~q~qN ~~nd tM imm~d~at~ rev+~r oI s~id bwtdnqf, a. ~n irweu~ M~M ~ d ~acMih.~~Ai~
'~s rM i~rrwdia» ?~WYmanf o( Nw deW her~M ~ecw~d ~nd Nr t~ilur~ oI ~M Mortq~pw M tanPh with ssid dwn~nd d tir JNortq~q~~ for • p~riod o( thin~l (~0)
~ dars, s1~~11 consr.t~ts a bfe~ch oI IAit mort9+9~. w+d. ~t tM oPtion o~ tM Mw~y~pee. inwnediat~ly mNw~ tlr ~ntin ~mount of Minrip~l yd inNrnt Mr~6'fl
«~~r.d, •nd ~rr.~-e~•~taly ~nd w~rhovl notier, tM Mat9~qN en~Y insfiluh ptoeMdinqs b iw~elos~ Mis matyp~ x~d ~OO~Y ~~~ODO'r.emen~ o/ • RKl~'~N •i
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