HomeMy WebLinkAbout0446 TO HAVE AND TO HOLD d~e sawd, togethe~ with the teoeatents, be~i~ditw~ents aad appurtew?ucYS. w~to tbe ~!ortgagoe, iw [ec simple.
A1~D the Mort~a gor dces horel~y co~rns.nt with d~e !?1wt~ay~ee tbut tw is iiwlefeasi(,~y seizal oE sa~d laud in iee simple, that 4e ha~
iull powe~ tad law{ul right to convey said laaJ in fee si~npk u dorrsaid; that it shall be lrwful fo~ the Mortgadtls ~t all tluxs~
aad quictly to eatn upoa~ hokf, occup arni ea~y saki lauJ; thut said laud is free Irou~ sQ incun?brances; tbat be wiU make suc
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assuranc~s to pcatect tho Eec simpb ti!~ to saSh caad 'a the \tort}~agre as mxy rrasa~sWy be ca~uired; that 6e does hereby fuqy wunnt
the titla to said laad aad will drfend tbe sune agaiast the lawful cluims of aU pcrsa~s vrhoa~soever. -
PROVIDI~:D. :1LWAYS, that if d?e \iatqa6a ~ WY w?to thc lUortgagee the certain promissory notc oE which t6e Iallawing ia
w~o~ds aod figures is a true copY. to-wie:
COMMUN'ITY FEDERAL 3AVII~IG4 AND LOAPI AS~t?CIA'~'ION OF RMERA BEACH
, ~nr#~~~e ~D#P _
~ RIYIERA BEACH. FLOli1DA 19 '
+ April 12, ?6 '
I BeinR iaclebted, ior value received, tbe unde~si~eci jdntiy and seeersUy pmmise to pay to COMMUMTY FEDEML SAV-
I lI~CS AI~D LOA1V ASSOCIATION OF RIYIEM BEACH at its oE[icc in the City of Rivie.ra Beac6, Fbdda, or order. tLe sum of #
~ One hui~dred eight thousand seven hundred Ec no hundredths--DO1.t~?RS (i10$, ?00. 00 ) '
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toE;rthcr with interest thereon as he~einafter stated in mont}ily instalLneats of Oi1e thousand thirteen and 25/100-
-------------------------------------------------------ooLt.~?iss (~1, 013.25
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~ The first instaUuieat shall be due and payaWe on tl~e l Oth ~Y ~ May, 1~7fi
i and suhsequeut installments s}~all be du~ aod payable on the lOth day of each anci c~~ery calenciar month thereafter i
i until the principal and intcrest are fully paid. ~
pa tio i
i Lar~er sw~ may be paid at aaY time, but the yusent d any such largcr suats in additio~i to the paymeab hcrein re-
! quimd sl~all not relicve thc makers of tl~e pa~~nent of the monthty installments hcrein proviiled for. unless it is specifically stipw
~ lated by the makecs at thc time ofpa
ymeat that such larker rums am ta be applied to the advance payment of the enonthly iastall-
I _ ments next ~nsh~n~g ~n the order of their due dates_ All payments made upon this note shall be applied tint to the pa~ment of
i amnred interest ancl scco~xlly ~~pon the pirinctipal. .
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~ Thi+ d~li~ation sF~all bear interest from clate at the ~ac~ ot nine and one/half per cent i 9. 50%~ ) ;
pc•c an~itun +?ntel the principal and interest am f~Jl} paid. ~
-Interest for each c~akndar :nonth shall Ix~ accmeYl on the fitst day of saicl nwnth and be computed on the unpaid I,alancr '
of prinripal and inten~st esistiag on thr last ~tay of the prececiing month. This aote s6a11 be consicle~ in defaalt w6en anypa
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u~cnt re~~uired to be made herc~nder shall not have been made by its due d~te ancl shad remain in default ~mtii said payment s~II 4 }
have }x~•n made. While in default, thit aote shall bear interest at the rate of -ten- per cent I ~
( 10 ) Pe1 annum in lieu of the rate hereinbefae speciEied. `t
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j all makers and enclorsers rww or hereaket ~ parties herrto joindy aixl sevrrally wai~•e dem.anci, notice of non- ?
~ p,~~•mcnt and protest, and aeme that in the e~~rnt of defa t in the payment o( aa~y uutallment due hereunder for a peri«1 of ~
d~irty (30) days the whole of said iadebtedness sLall tbereupon at the optian of the holder, becoine immcciiately due and paY- ~
j able, anJ if this noce becomrs in defaalt a~xi is pIaccd in the ha~xls of an attortiey for coUectioo, to pay rrasonable attomey's f~es t
! arKl aq othe: costs including casts and attorneys fees of A~ellate Court ProcrecGnRs for maldng such oollection. ~
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~ T1~is iate n~a~• bc prcpaid in whole or in part at any time ~.•ithad penalty. :
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i (SE.1L) ~Crai~ C, ~ttlleRls (SEAL) i
raig :-Nia thews-- ~
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i _ _ (s~[.) 8/~arba.ra Y. Matthews _ ~s~L) `
~ Ba rFiara ~Y: -~MaEEhews _ t
i i Tlus aote is scrurecl 6~• a uwrtRaKe of even date ezecutr.l by t'~~ nu~kcrx in fa~-or o[ Comu~mih• F~citral Sa~~ngs and Loan A.cm.
I of fii~ien Beach )
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and shall p~oniptlype dorm, oanply wit6, and abide Ly each a:w~ every the stipnlatioas. agrcements, conditionc, a~ cot'cn3nts of Said protrr
issory note and uf this deed, then tht estate hereby created _ha1) cease and be n~ll and void.
A\D tlx~ l~tortgagor dces }~ereby oovenant aod agiee: -
1. To pay all and sing~ilar tbe principal and interest and dher sn~ of nwoey payabk by virtue of said promissory note and this mort-
gaRe. or either. P~P~Y on the daYs raPectivelY. the same severaUp come due.
2. To pay all and siagular the tazes, assexsmenLc, kvies, liabiZities, oblip,ations and rn~~wnbrances of every natun: on said described prop-
erty each awd rverv w{wo due and payable aecording to law, before the} bernme delinquent, and if the same shall not be promptly paid
the Mortgagee may xt any time either beEore or after delinquency p~y the same without waiving or affecting the option to foreclase, or
am• ri~ht hereimder, and every pay~nt w made shall bcar interest from lhe date thereof~at the rate provided in s:iid promissory note.
3. To keep the buildiags and allec ~uipment and personal property now or hereafter on said premises, eovered by this awrtgage, insured
in a swn at lezst equal to the unpaid balance of this mortKage, incjuding fire, flooel, e:tetxled coverage ~anclalism, malicvoos roisschief, and
~ any other ooveraFCe required by the mortEtagee, ac to properties other than dwellin~s wd fire, flood, eiten~ed coverage, special-form other-perils '
insurance, and aay oRher coveraRe rcv~uired by lhe ~nortagce, on dwellings eligib~e for such braadenecl ooverage- provided, however, that ;
such insorancE be in an aawunt sidficient to oomply with any co-insaranoe requirements ca~~ering same under tLe laws of the State of Florida, '
and pro~idecl (nrther that the pulicy or policies shall be written in a canpany or oompanies arsd throu~ an aRency sacisfactory to the :~lort- '
~aqee and thaf caid policy or policies slull be heW by the ??fortgagee and shall bear a standard I~iew York Mortgagee Clause witlxn~t oontr~bw =
~ tion, makinz the loss under said poL'cies payable to t5e A~octgagee as its inter~t may appear; and in the e~•ent any sum of maiey becomes
payable under any suc5 poliry or poliaes, tt,e Atodgagee shall have the option to receive and apply the same ~ acconnt of the indebtedness
~ l~erehy secvred, or to permit the \fort~agor to receive aad use it, or any part thereoE, for other purpose._~s, without thereby w~ai~ing or impair- .
inR any eq~uty, lien, or nght under and by virtue of this mortgage; and in the event the Atortgagor dces not comply with this covenant, thr t
Aiortgagee may place and pay for such insuranm, or any part iherr.oF, without vvaiving or affecti~C the option to fireclose, or any rip,fit here-
~ unckr, and the fvll amount oE ~~ach ancl every such pay-ment shall be imsnediately due and payable, atd shall bear interest frm~ the date
~ thereof until paicl at tl~e default rate prmidecl in said note and togrther with snch i~temst shaD be seaimd by the lien of th~t mott~age Ynn~r-
~ as~ce co?rring the peril of (lood damage shall be az reryuired by the Feder.l Dis~ster Prat9etion Aet of 1~J73. or as amended, and mortqaRor ~ i
rnvenants and agrees to rnmpiy in all respects with the provisimu thereof.
4 4_ That ~nortRagee may~, at any time during the nwrtgage term, ~nci in its ciiscretion, apply for renevval of~ mort~aqe quaranly insurance ~ ~
co~-erinq the r~ortRaRe rxecutecl by the u~lersigned on even date herewith,pa y the premium due by reacon thereof, and require repayment ~
by the undersi~l af suc•h amoants as are advanceri by said mortqa~ee. In the c~•ent oi failure by the undersiRned torepay said amounts to 't
said morttcaAee, s~u~6 failure shall be consic'~recl a_ciefaWt, ar.d all pro~isior?s of the note azxl mort~cage with regaod to default shaU be applie- !
abie. '
S. To permit, commit or suffrr ra wastr, impairr.~t or deterioration of said~r
operty. or anY put thereaf. and upon the Failure of the
mort~agor to keep the bnildin~es ~n said property ia Rood condition of mpair, the ~tortp,agee may demand the immediate repair of said bnild- ;
inas, or an increase in the anwunt of security, or the imrnediate repa7ment of the debt hereliy sec~ued and the iailnre of the ?~turtgagor to com- ,
ply with said dernancl o£ thP ~tort~:aRee for a~eria) of ti~irty ( 301 days, shall condi'.ute a breach of this mort~.+Re, and, at the opt~on of the :
1lortfcaRcr., immediately nwture tlie entire amrnir.t of princir^, arxl interest hereby secured, and irr.mediatefy and wiihr_wt ~atioe, the Mort¢aRee ~
~ map i~niitide pr~r_ecclins*s to forrc~ this morltrage and apply for the appointment of a Rrceire?, as hereinaiter p~wided. ,
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