HomeMy WebLinkAbout0095 TO li1VS AND TO HOLD U?e sau~e. Wgrtt~ with tha te~ments. hemdiw:wuts ~.rxl s?ppartenaixrs. unto the Mortgagee, ia fe,a siu~pk.
:?ND t!?~ Mortgaaor cloas M.~~bY cov~aot w~th ttw \longa gea Uwt he is in~Jei~asi~y seiad of s~ti~1 laad in Iee sln~ple. that he hat
fuU power aud lawful ~ight to cunvey saec! land in feo siiuple~ as afomsaiJ; dmt it st~all be Lwful for the Aior4gabee at all t~nes
x?xl yuietly to enter upoa f?ok~. occupy ar?d ea' said laad: that ssid Ian~J is tree Eroa~ all incua~Uranas: that !~e wifl maka s .furiae~
:ucwanccs to ~eotect the Ece simple u';b to ~ ia ttie A1~rt~agee as a~ay rcasunably be requic~eci: that be durs be~eby Eully wurani
d~e Htle to sa~d land and will ckfend the ~ama agninct the l:aw•ful clai~ns of all par,au whasuioever.
PROVIt)ED. ALWAYS. that if H~ I~la~~agcx shall paY unto the Ato~ty;altua the cerisin proeaiss:,ry aete aI whkh tl~e fdbwing in
.vonls aad fidura is a hue coPY. to-wit: :
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COMML~NITY FED~.RAL SAVING3 ANI1 LOAN ASSOCLATION OF RIVTERA BEACH
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I ~urt~x~e ~a#e ;
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~ BI~~IERA BEACH, r-w[u~~ April 8, 19 T6 - ;
~ -Being ir~ciet?ted. for valuo receivo~. tLe wKlersigned IoindY :.ad se~~erally promise to pay to COM11iUh'I1Y FEDERAL SAV-
l\CS AND Y.OAN ASSOCIATION OF RIVIEM BEACH at its of[ice in the City of Ri~tiera Beacb, Fbrida. cu ader. the sum of
I FORTY THOUSAND FIVE HLTNDRED & NO HUNDREDTHS---UO~xs (i40, 500. 00 ) .
~ to~ether ~vith ioterest thereon as heraiuifter stated in mouthly iwstallu~ents oFTHREE HUNDRED THIRTY I~TINE ~
~ AND 88/100-------------------------------------------- not.i.~?xs (i339.88
' Tt~e hrsc instaWiienc slwu be duc aix! payable a? ?hr lOth d;~y o[ May, ls?6 s
~ and subsequent installaient, shall be due aod payable op IOth da}• of eaeh ancl every adenclar uwnth thcreafte~ '
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~ imtil the principal and interest are hiUy paid.
~ LarsEer sums uiay be paid at stnY time. but the~a
yuient .+f any auc1~ Iacgrr sw,~ in addition to the payznanis :se:ein rr- #
qwn~] s},a]1 not ielieve tl~c makers of tbe pa~u~en~ of the moathly installments herein prm•ided for, wiless it is spacifically stipu- _
~ lated by thr ~nakers at the time of~a
yment that such lar~er sums am to be applied ta the advanc~r payme~t of t}~ moat!?ly install- ~
~ nx~nts next maturing in lhe orcier of their due datrs. AU paymen~c inade ~~pon this note shal~ hc apglittii first to the pa~ment of
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acti need interest and secondly upon the principal.
~ Thi~ ohliy;ation shall l.ear intere~t from date :d th~~ rate of -111I1C- [kr cent ( 9. )
~ ~x•r annum nnti) the prin~:~al and intetest are G~Uy paid.
; lntcrest for each ralrnclsr tnoatl~ ahaU lx acrn~ed on tLe fiist ~Iay of s:+id monih aix! be computcd on the unpaid balance ~
i ~•f prirnipal and interest ezisting on lhe last day of the precrciiug month. This note shall 'oe considerea ir default whcy~ anypa
y-
i nxnt re~~uireci to i~ uw3C i,e~eac..:~~ st,a!! swt 'aa:~c hccn a~d~ its ~~~c date s..~ sl~l! nerna4n in de~aelt antil ~a~ gayr~tPnt ahaD
~ ha.r lxxen made: «'hile in default, this note .shall bear interest at the rate of -teri- Per cent ~
! ( 10 70 ) Per annum in }ieu of the rate hereinbefae specified. -
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; All m3kers and endorsers now or hereafter oeooming partica hemto iointly and se~rrally wai~•e demancl. notire of iwn- ~
I luyment and yrot~ct, anci aerce that in 16e e~~e~t of default in the payinent o[ any iisstallment due hereunucr for a pcriod af #
i thirty (30) days tl~e whole •,f saitl indebtalness shall theseupon :~t the option of the holcler. l~eco~ew iinmediaieiy due and paY- {
able, ancl if lhis cote beco~nrs in default aod 'u placecl en the hanck of an attorney for cuUection, to pay reasonaLle attomey's fr~s ~
~ ~ a~xl al~ other eosts inelnding costs and attort~eys fees of Appellate Court ProceeclinRs for maldng such eollection.
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~ ~ 'i'his nole n?ay br prepaid in whok or in part at any time ;~ithnid penalty. ~
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- ~5~~1~ s/Roy L. Matthews ~S~.~L)
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i ; R oy L. Ma~Ehews ~
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s /Erma D. Matthews (sE.~L) ( •
( (SEAL) Erma~~D:- M~~thews '
~ ~ ( This iwte is see:vrec! by a mortQa~;e oE even datF exe~:ute~d Uy t:~e- roakers in (a~•o~ ~f Caumunih- Fecleral Sa~-in~ ane! Locin Assn. i
u[ Ri~ ir~e Rcxch ) _
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a~ ~a!] p~o~npdy per{orm, comply with, and abide by rach a~ct ecery the scipnlationt, agreecnents, rnnditions, and co~•enants of s.19ci p~om-
? issory note anc~ of this dec.~l, theu the estate hrreby ereateci s6all eease arx! he null and void. ~
A\Q the ~iod$agor dces hereby aovenant and sSree: ~
1. To paY all and singular the principal and interest and other sums of smne'Y PaYable by virtue of said promissory nobe and this mort-
+:a~e, or either, PtumptlY on the days respectiv~elY, the same seversllY come due.
2. 7o gay aq and singular the tazes, assessmeais, kvies, liabilities. obligations aod enclunhrances of every nature on said desriibed prop-
;rty each anel every ~?hen due ancl payable according to law, before they brevu~e delinquent, and if tl~e same shall not be promptly paid
the 1~lortgagee may at any time either before or after delinqucr.cy pay tl~e sarr.c Nithout waiving or affecting the option to foreclose, or
any riqbt hereander, an.l every payment so macle shall bear interest from the c3ate thereof at the rate pro~zded ia said promissory note.
3. To keep the buildings and all ec
~uipment dnd personal property now or hereafter on said premises, co~rred by thit morigage, insured
in a sum at least eq.~al to the unpaid balance of d~is mortgage, incladinfi fire fbal, rrtended coverage, van:lalesm, malicioau mischief, and
any other co~-eragerequired by the mortftagee, as to properties other d~an 3vvrl~in~s, aixl fire. flood, e:tended ~roveraga, special-form other-perils
icu,irancr, ar?d any other coveraQe required by the mortagee. on ~Iwellings eligible for such broadened coverage- provided, fwwever, that
such insurance be in an a~iw~ni sufficient tu com~plY Ktith any co-insuracxti requirements covrring same usder the laws of t6e Staie of fk?rida,
and prm-ide3 further that tLe policy or policies shall he writtrn in a coc~pany or rompanies anci through an agen~.~y sat:sfactory to t~ee Mort- ~
~agee an~.': '!~at said policy or policdes shaR te heM by the 1~ortgagee and shall brar a standard 1ew Yerk :~tortgagee Clause without contribu-
tion, maidnQ ti,e [!xs under said policies gayable to t~te :11ortgagee as its interest :nay appear; ared in ihe ~v°en! any stm of nwney t~econ'.FS
payabie uncler any such poGcy or poli~ies, the A:o~tgag~ sh:Ji have the option to receive and appf~ the same on acrn+mt of tbe indebtedness ~i ~
hereby ser:urrd, or to permit the tlr+rt Ror to recTice and ~ i[, or any part thereof, for other ~urpues, without thrreby wai~ing or imrair- `
in;~ any equity, lien, or n'?t ~u~der a~by ~iRue oi thu morteaxe; and in tl~e event the 1it~~eagor dces :at canply witln thia cm'rnant, ihe
Mortgagre may place an~pay for s~~ch insuranc-•, or any pari th~reof, without waiving or affectinA the ~tion tc f~reclase, ar any ri~t here-
under, ai~3 ;,~SC tull amount of cact~ and Pvery su~i pay-ment sball be immediately d~$ an~3 pay.?bk, anci shaD bea: interest [rom tbe date ~i :
thereof until paid at thc default ra*.e provi~3ed in said note and togethe; w:ih such inierest sha1) be securcYt by the lien of this mort~age. Insur-
- ancp ~~a+ering the peril of fiaxl damare shaIl be as required by the Federal Disaster Protection Act of I973, o? as amrnde~l, a~d moctRaAor ~
rovenants and agrees to canply in all irspects with the pmvisions ihereof. ~
~ 4. That inc~ri,~aqce may_ at anY tiu~e during the m.~?rtgage terra, ~ in its discTetioo, apply fc+r renevval of mor!ftatse. guaranty insurance
rocering the moriRa~e executed by the undersi~ed on even date liereKith, p3y the premium due by reason t}~ereof, and require rep~yn:ent ;
h~- t~R un•lers:~necl of such artxwnts as a~e advanceci by said mortga~e. I~ the event of failure by the nn~ersi~! to re-wy said amounts to ~ t
sai~: mortgaA.x, such failure sha11 be rnnsic'~recl a default, acul all pm~
sions af the note erxl mo:tp.age ~1th rcAard to default shall oe applio- t
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5. To pernut, a~nunit or suffer no wade, ~mpairment a deter.'orat:on of said prc,perty, ~r any p~rt therenf, and upon the failurr of the
~ trnrtgagur t:, kerp thr bniWinfis oo said praperty in ~noc1 rnnditian of rcpair, the :~.iort~gee may dcmand the imrnediate repair of said bui3d-
ir.qs, or an incrc-ase in the amwud of cecurty, or the imrrwxliate rc•pay ment of !he. clebt }~creby senimci an.-i the failure nf thc I?'tortp,ag~?r t~ com-
Piy wi~h sa;~ d~rra~ul oE et~ ~tortfiaacr for d perial of :hirty (30) days, shall rnrstitute a brcach of this mort~3Re, and, at the optirn~ of the
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~iort.axee, immecliately :nature the cntire ama~nt of principa) and interest h~~cby scc~~red, aud ">m~ediatrly and without notice, the tlortsLaRee
~ :~~a~ institat~ pmecrdines to forecloc~r thic mortSage Ancl apply for die appointrrxnt of a Re~ceirer, as hereinafter provided.
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