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Home My WebLink About0107 i . ~ TO HAYE AAD TO HOLD the sama. together with tha teaementt, I~errditnn~ents und appurtenances, unto the Mori~iagee, in fee siu~ple. AND the Mort~ago~ dces hereLy covrnant witl? the \1o~tgagt~e tliat he is iiKlefeusibly seizecl ot said la??d in fea siinple~ that he has lull power s?~d 1awEul right to convey a:?id land in tee si~uple as afur.•said; tl?at it ~hall tx lawtul for the MortKagc~e at all timks ceably c and qui~tly to enter upon, hokl, occupy a~hi eu uy said land; tt?at aaid laud is free from ell incwnbrances; that he will inake suc further ass~ran~~es to protect We fee siniple tiUe to sai~ lancl in tha I~iort agee as ~nay reasoaably be requlmci; tbat he does hereby fully warrant _ tha titla to said laad am1 will de(end the san~e aR+~»t the lawf~ clauns of aU pe~sotas whotnsoever. PROVIDED, ALWAYS. that if the Mortgagor st~all pay unto the !~tortgabee tha ce~tain promissory note of whic6 the following in Wonls and figures ls a true copy. to-wit: i 1 COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEACH , ~ ~,~ar#~M$e ~ate ~ ~ I NI~'IEM BEACH. FLORIDA July 15, 19 7fi i Being iixlebted. fo~ value reccived, the undersigaed jdntly and se~•errlly promtce to pay to COMMUNITY FEDERAL SAV- I t\GS Al~'D LOAN ASSOCIATION Or RIVIERA BEACH at its office in the Cit~• of Hi~~iern Beach, Fbrida, or ocder, tbe sum of ~ THIRTY SIX THOUSAND AND NO HUNDREDTHS-----------noLL~its (i35, 000. 00 ) ` ~ toa;et6cr with interest thereon az hereinafter stated in monthly ia~tulLurnts of TWO HUNDRED NINETY SEVEN i AND 20/100---------------------------------------------flOLLARS 15297.20 ; The fi~st installmrnt shall be due and pa~'aLle on the l Oth ~ day of September, 19 '76 and subsequent installmentt shall be due ancl payable on the l Ot~'l day of each ancl every calendar month thereafter ~ until thc principal uncl int~nst are fully paid. I.ar~er s~uns may t,e paid at any Ume, but the payment of any such larger swm in addition to d?e pay~ueuts herein re- yuired shall not relieve the makers of the pa~•ment oE the monthh• iastallntents herein pro~ided for, unless it is spacifically stipu- latcci by the makers at thc time of pa~•meut that such larKer sums a:~• to lx applicd to the advamr payment of the monthl} instaU- menLs next tntluring in the order of tl~eir duc dat~~c. All paynx ~d. niad~• u~n this niHi• ~hall l.c applic~cl first to the pa)•ment of a~rru~~l intcrest arxl crcondl~• upon the principal. 'I'hi~ ublis;atio» shall bcar interrst frou~ dati~ al the~ ratc ofeight & eight/tenths pcr ct~nt i g. 8 °c ) ~ p~•r :uwu:u ~mtil the pric:cipal and iutemst am fully pai•l. Interest (or each i.ilrrnlar month_shall i~e acrructil a~ lhe fii.t ~iu~~ e! .:iid month and lx~ cowputed on tLe w~p:tid i~alaner uf priucipal :uicl intr~c:t exi~tint; m~ the I:ict day of d~e prcr~rling n~onlh. liis not~ s6a11 L-o comiderecl in i1~•.`.udt ~t•ht•n any pay- u~ent rc~~nirccl to tx• uiadc 6creunder sLall not ha~~e I,een made i,}• it. ~l~e~~ dxt~~ au~? shall ~~•~uain in d~Eault smtil caid payment shall iia~~e bt~•u ~n~de. ~t'I~ile in defa~dt, this rwte shall l~ear interest a[ the rate of -ten- p•~r r+•r.t ( 10 k) I~r annuni in lieu of the rate hereinbeiore spcrified. 1 :\Il makFrs aixi endorsers now or hereafter becoming parti:~s hemto juintly auel se~erally «•ai~e dcmand, noticc; of non- ~ p.,~uKnt au~~ prblr,t, arK1 ac,7ct• t~at in the• ~~~•ent of c~efault in tl~c pay~nent of any installment due heecunder for a period of• tliirty i~ 1~13ys thr whole of said indebtedness shall thereupon at the option of th~ Loldrr, l,e~c.~wne immediately dnP :~nci pay- able, an~l if this note becomes in default arnl is placecl in the han~ls of an attomey [or eollection, to pay ?easonable attorne~'s fees ,in~l al) otl~er costs includinA costs and attorneys fees oE Appellate Court Proceedinp,s for makinit such coilection. "fhis notP ina} }x• prepaid in whole or in part at aay time withont penalty. - ~ f ~ ~ I ~ ; (SEAL) s/Gordo~l O Yroctor iSEAL) € ; Gordon ~roctor 6 r ~ (SEAL) pe eggy L. Proctor ~SEAL) ~ g gy L. Proctor ~ 1 This note~ i~ uxunYl b}- a mort~;aKe of even date ececuted by th~• makers in facor of Conuuunit~ FMleral Sacin~s and L.oan Assn. ; i of Ri~irr.~ Bt~ach ) E _ . _ _ . . - ~ - - ~ - - - ~ x ~ ~ :u~d shall prompdype rforui, comply widi, and abide by eacl~ and every~ the stipulations, agreements, conditions, and t~o~•enants of said prour ~ icsory note and of this deecl, then the estate hereby ereated shall ce:e.e and Ffe null and void_ A\D the I~iortgaRor does hereby co~~cn~ant anci agree: ~ 1. To pay all and singular the principal and interest and other sunu of ~noney payable by ~irtue of said promissory note and this mOrt- ~_aqe, or either, prompdy on the days respectively, the same severally come due. 2. To pay all arxl singular the tazcs, assessments, levies, liabilities, obligatioas and encumbrances of every nature on said described prop- :~rty each and every w~hen Jue and pa~•able according to law, be[ore they become delinquent, and if the same shall not be prompdy paid _ the :~~ortgagee may at any time either before or after delinquency pay the same without waiving or affecting the option to fomcloae, or ~ ~ny right hereunder, anJ every payment so made shall bear interest from the date thereof at the rate provided in said promissory note. " 3. To keep the buildings arnl all e ~uipment aad personal property now or hereafter on said premises, co~~ered by this mortgage, iasured ~ in a sum at least equal to d~e unpaid balance of this mortRage, including fire, floal, eztended rnveraRe, vandalism, malicious mischief, and ~ ;~ny other coverage required by the mortKa~;ce, as tu properties other t}~an dwellings, and fire, flood, extended coverage, special-form other-perils insurance, and any other coveraqe re~~aired by the mortahee, on d~~cllings eli~ible for such broadened co~•eraRe - provided, howe~~er, that 'a ~uch insurance be in an amount sufficient to rnmpl~y with any co-insurance re~~uirements covering same under the laws of the State of Florida, - and providc~~ further that the policy or policies shall be wTitten in a company or compaaies and through an aeency satisfaMOry to the \tort- ~aqee ancl that said policv or policies shall be held by the ?~io~t~~a~,ee and shal) bear a standard New York ~1ortKagee Clause widirnrt contriLu- - tion, making the loss ancicr said policies payahle to the ~tortuaqee as its interest ~nay appear, and in the e~ent any sum of ~noney becomes Dayable unclrr any such policy or ~licie5, the ~tortqaRee shaU ha~~e the option to receive and apply the same on account of the indebtedness ~ ~ereb>• secured, or to pennit thc Jiortqaqor to recei~•e and use it, or any part thereof, for other purposes, without thereby waivin~ or impair- ~ inQ any equity, licn, or ri~ht under and by ~~riuc of this morttac*c; and in the c~•ent the ~tort~attor does not comply with this covenant, the ~ ~turtRaqee ma~• place and pay for such insurancr, or any pad thereof, witliout waivin~ or affectin~ the option to foreelose, or any ri~:ht here- under, aud the full amount of ~•ach and every such payment shall be immediat~ly due an:l payable, and shall bear interest from the date ^rY thereof until aid at the default ratr providecl in said note and to~ether ~e~th such intemst shall be seeurecl by the lien of this mort>aqe. Insur- ~ ance co~~erin pthe peril oE flood dau?age shall be as reyuired by t6e Fcderal Disaster Protection Act of 1973, or ac amended, and mortgaAor ~ cocenants and aRrers to comply in aU respects w~th the pro~isions thereof. 5;. . ~ 4. That mortfeagee may, at any time durinQ the mortgage term, and in its di~cretion, apply for renewal of mortRa~e q~aranty insurancr ~ co~-ering the mort~aqe exeeuted hy the undersi~necl on e~en date herew~ith, pay the premium due by reason diereof, and require repayment hy th~ unders~gnccl of such amounts as are ach:~ncrd by said m~rtKa;Cee. In the event of failure by the undersisCned to repay said amoiinis to •aid mort¢a~cr, sach failum shall be consic': red a default, and all pro~-isions of the note an~ mortRage with rc~ard to default shall be applic- ~s ,~ble. 5. To permit, commit or suff~~r no ~~-.ute, impairtnent or dMerioration of said property, or any part ihercof, and upon the failure of the ~ rnortr~a~or to keep tl~c buildin~s on said property in ~eood condition of r~pair, die ~tort~agee may dernand the immediate repair of said b~iild- ~ inRs, or ~n increase in the amoimt of security, or the immed9ate re}~ayrm•nt ~~f the ~lebt hemby secti~red and dic failure of the J1ort}taRor to com- x ply a~th said demand of the ~tortKat<'e for a pc~ri«I of thirty (30) dayc. shall rnnstitute a hreach of this mortga Re, and, at the option of fhe \fortRa~e~e, immecliatel~• mature the entire amoiint of principa) and inter~~st hereby secare~cl, and immediately and wid~out notice, the ~iortAaqee may institute proceedincs to forccloce this mort~age an~l apply for thf• appointment of a Receiver, as hereinafter provided. ~ .~°f ~ : r~ 5 ~Af.~ l ~ ~ . - - - ~ - _ _ _ = . . ~ ~-`~~.F~ _ _ . . _ N~ -