HomeMy WebLinkAbout0112 TO NAYE AND TU HOLD tl~e same, together wilh tho tenemenb. hereditawents and appurlcuaucrs, unto the Mortgagee. in tee timplo.
AND the I?tortgagor does herrhy co~•enant w~th the \1ort~agca that !~e is incleteasiLly aeized o( said laaJ in feo sirnple, that he has
I~:U power ai~d lawful right to convey said land in fm siinple as afor~•said; tl?at it shall be lawful for the Mortgadee at aU timespe
aceab}y
and ~ uietl to eute~ up~a, Lold, occu yand en'oy said la~Kt; that said land is frae from all inc~unbrances; that he will ir?ake suc-h iuriher
iwuracx,~es to protect the fee simpk title to sal~ la~xl Ia the A~ortgag~ti as u~ay~ reaconably be reyuired; tL-at ha dces hereby fully warraat
the tida to said land and wiA Jefe~xl the same against tbe lawful cluims of aU persons wha~uoever.
PROVIDED. ALWAYS. that if the \fartgagor shall pay unto the I~fortgagee the ctiKaic? pranissory note of which the foUowing In
words and figures is a true coPY. to-wit:
I C011iMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEACH
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I RIVIERA BEACH, FLORIDA July 21, 19 ?fi
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Being inciebted, for value received, the undersigned jandy and severally promise to pay to COI?tMUN11Y FEDERAL SAV-
I [\(;S AND LOAN ASSOCIA'fION OE RIVIERA BEACH at its oFfice in the City of Ri~~ern Beac6, Fbrida, or order, the sum of
~ TWENTY SIX THOUSAND AND NO HUNDREDTHS----------m~~ (s26, 000. 00 )
~ to~;ethFr ~rid~ interest thereon as hereinaEter stated zR ~nonthly in~t:ill~~~ents ofTWO HUNDRED EIGHTEEN AND
j 20/100------------------------------L------------------ noLLARS (S 218. 20
The first installment shall be due aod pa>'al,le on the lOth day of January, 19
anci subse.iuent iactaUments sha11 be due and payable on the j Otjl day of each and evep• calernlar month thereafter
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uutil the principal and inte•n~st arc ftdly paid.
I,arger sunu may be paid at anq time, but tt?e payment of any such larger sums in addition to tLe pa~•u~ents 6ercin re-
' yuirecl•shall not relie~•e the makers of t}ie pa>znent of the monthly installmcnts herein pro~•ided Eor, unless it is spectifically stipu- `
lat~~1 b the n~akers at the ti~ne of pay~nrnt tt?at such larger am~. tu IK• applieYi to the advance payuient oF the monthly ir~ctall- i
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me•nts next ~naturinA in the order of thcir ~ue dates. :?Il payment. in:?~Ir u~n th~s not~• shall ix~ applii~i first t~ tl~e pa~~ment oF
a~rrnc~i intcrcct a~x~ s~Y~o~xlly upon thc principal. j
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r 'll?is obli;;atiut~ sha~l lx•:ir interest frau ii:de at tl~e rale of _nine- per cY'ot ; 9. 0~'° ~ ~
p•~r anuu~n u~:!il thc psir.cipal aud intrrest are (ull~~ p:~id.
lntt•r~yt for ~•aci~ calendar month shall l~e accruecl on the fi.>t ~la. of ..+i~i month and l,c co?nput~~ci ou the unp::id Lalana~
uf p:incipal au.) intc~~~~t ezistink on d~r last day of thc precr:lin}; month. This ~K~t~• shal! he con.iderrd in de•i;.ult w}~rn au~• pay-
w~•nt re~ nirrcl to be m:zde t?ereunder s}?all not have been made 1•~~ iis iiue dat~~ :~nd c!~:zll :e•main in default until .aid p:ryment sha1)
I~~~•e tK•~~n inade~. ~V}~ile in default, this note s}W11 l~ear interest at the rate of -ten- ~~r rent ~
( l~k ) per annum ~u licu oE the rate hereinbeEore specified.
:\II makcrs a~xl erxlorscrs now or hereafter becoming parti~~; h~reto joind~~ end severally ~vaive den~and, notice oE nou-
pay:ueut and prot~~t, and akree that in the c~•ent of default in t}~e payment of any installment due hereunder for a period of
; thirly (30) days the w6ole of said indebtedness shall thereupo~ at the option of the iiolder, 1~eco~ne iimnediately due ancl pay-
able, and if this note becrtnes in default a~xl is placed in the ha~xls of an attorney for collection, to pay reasonabic attorne~'s fees
:~nd all other costs including costs and attorneys fees of Appellate C~urt Proceedinp,c for makinQ snch collection.
"I"I~is note ~ua)• }K' prepaicl ip who~e or in part at any time ~~~ithont penalty. .
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I (SEAL) s/Margaret Anne Gant ~sE:~r.1
; i . Margaret Anne Gant i
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~ i,7-his notr i~ s~Y•ure~cl by a mort~afi~ of even date eaecutecl by tli~• m:~ki~n in (a~•or of ('.oniiuunit~ P~Ylera) Sa~in~s ar?cl Loan Assn.
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p i uf Ri~irr:~ Brar6i
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~ and sliall prom Uype rfonn, rnmply with, and abide by each ancl eie~~• d~e stipulatioru, agreements, conditions, asxl co~~enants of 52ll(I piUlll-
~ issory note a~of this dced. then the estate hereby created . shall cea.e arxl t~r mdl and r•oid.
~ A\D :he Mortgagor does hereby rnvenant and agree:
~ 1_ To pay all and singular the principal and interest and other suuu of u~oney pa>-able by ~•irtue of said promissory note and this mort-
,age, or either, prompdy on the days respectively, t6e sa?ce sevecally come due.
Z. To pay all and singular the tazes, assessments, le~ies, liabilities, obligations and enc:uinbrances of every nature on said described prop-
~ :•rty each anJ every when due and payable according to law, before they become delinquent, and if the same shall not be prompdy p~d
the A1ortRagee may at any time either before or after delinquency p3y the saine without waiving or affecting the option to fomclose, or
~ ~ny right hereunder, and every payment so made shall bear interest From the date thereof at the rate providecl in said promissory note.
~ 3. To keep thc buildings and all~ quipment and personal propedY now or hereafter on said premises, covered by this mortgage, insured
~ in a sum at least equal to the unpaid balance uf this mortgage, incluclinb fire, flood, extended eoverage vanclalism, malicious mischief, and
~ any other covcrage required by the mortKaKcY~, as to propcrties other t9~an dwellings, and firc, flood, ezterx~ed coveragc, special-form other-perils
insurancr, and any odier coceratte required by ihe morta~;ee, on dwelli~gs eligil~le for such broadenecl coverage - provided, howeeer, that
~ ,uch insurance be in an amount sufficicnt to comply with any co-insurance nr~uirements cmering same undcr tl~e laws of the State of Florida,
aixi pro~•ided further that the policy or policies shall be w~ritten in a company or companies and through an afiency satisfaMory to the 1?fori-
;;aRee and that said policv or policies shall be held b}- the \tort~a~;ee and shall l~ar a standard New Sork ~1lartga~ee Clause without contribu-
tion, making ihe loss uncler said policies payable to the ~lortgaKee as itc interest may appear; and in the ecent any sum of mone~ beeomes
% payable uncler anp s~ech policy or policies, the !~fortgaree sl~all have the option to receire and apply the same on account of the inclebtedness
t~creb~~ secured, or to permit the ZforteaKor to rctirire and use it, or any part thereof, for othcr purposes, without thereby ~vai~in~ or impair-
inG any cquity, lien, or ri~;ht imcler atKl by virt~:e of this mortKa~e; and in ti~e ecent the riortkagor does not comply with this co~•enant, the
~ \Iort~;aAee may placr and pay for sucL iiuuran~r, or any part tLereof, ~~•itiwut waivin~ or affcetin~ the option to (oreclose, or any rifiht here-
~ un~ler, and the full amount of Fach and every such payment sha11 l~ immetliately due and payable, and shall bear interest from the datc
~ therrof unti) paid at tl~e deia?dt rate providecl in said note and to~;ether with such interest shall l~e securecl by the lien of this mortqage. Inssu-
~ ance co~•cring the peril of flood <lama~e shall be as required by tl?e Federal I~isaster Protection Act of 1973, or as amended, an~ mortgaFor
wt rocenants ancl a~rees to comply in all respects with ihe pro~~sions thereof.
9. 'That mortKaAee may, at any time durin~e the mortgage term, and in its discretion, apply for renewal of mortgage ~niaranty' insurance
coverinR the mort~age ezecuted by the nndersi~necl on even date~ herF«-ith, pap the premium due by reason thereof, and ree~uire mpayment
~ hy thr undersi~ned of such amo~nts as are achanced by said m~rt~;aqee. In t1~P e~~ent of failure by tl~e undersiKned to repay said amounts to
~aid mor~KayteA. s~_~ch failur~ shal) be rnnsi~'~red a clefault, an~l a11 pro~-isions of the note anrl mortgaqe with m~ard to default shall be applic-
ahle.
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5. To pcnnit, commit or suf[er no a~•aste, impairment or deterioration of said propcrty, or any part thereof, and upon the failure of the
mori¢a~or to kccp the buiklins*s on said pro~rty in Qood condition of mpair, the Aiort~agce may demand the immediate repair of said build-
inqs, or an increase in the ~mount of securih•, or the inemrdiat~ repa}•ment of the d~ht hereby secured and the failure of the ltortgaQOr to com-
~ ply with said clemand of th~ Atortga~ee for a perind of thirty 1301 da}•s. ~hall conttitute a breach of this mortAaRe, and, at the option of the
\tortRaKFe, i~nmeYliately mature the entire amoant of principa) and interest hereby sccured, and immediately and without notice, the ~~ortgaRee ~
~ rnay institutc~ procceclin~s to fomcloce this mo:teaqe and apply for th^ ap~in ~of a ReceLye~~s hereinaftet provided. ~
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