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Home My WebLink About0171 i TO HAYE AND TO NOI.D the sau~e, together wit6 t6e teneiuents. hereditsa~enb aod appurteuanc~. unw die Mortgagee. in fee dmple. ' AND the Mortgagor does hereby oovenant wit6 the Mortga goe tLat 6e it indefa~si ~ned af aid land in fee simpk. that be bAs full powc~ and lawful ~i~tht to convey said land ta fee simpk as afosesaW; that it shall ba~vvful for tbe I?iortgagee at all tlm~t 1~~bly and qutatly topenter upoat hold, p p~? wd~said 4ad; that aid 4nd b free Erom aD iocumbranoa; that he wID make such xssurances to rotect tbe fee a;m b h'tle co m the M~g oe ss ma re~sowbly be ra~uired: that he does 6ereby f~illy warnint the tida to said land and wiU defend the s~me agaiast tLe lawlul daimi of ~ per~om whaasoever. YROVIDED, ALWAYS. tleat fI t~s ~atpgae th~D pq? ttnDp the Moitgagee t6e oerhia promvsoq? note of which the foUowjng in i wordt and Hgures is a due oopy~ to-witt ~ ~ COl1iMUNITY FEDERAL SAVII~IGS AND LOAN ASSOQATION OF RIVIERA BEACH ~ ~[nr#~~~e ~utE _ ~ i• RIVIERA BEACH. FLOAIDAApril ~19 77 ~ Being indebtod, for value reoeived, the undersip,ned 1~~Y ~ sa~+~Y Promisa to pay to COMMUMTY FEDEMI. SAV- ~ ~ WCS AND LOAN ASSOCIA7'ION OF RIVIERA BEACH at i4s ofiice in tlie City of RivIera Beach, Fbdda, or order, tLe sum of j FORTY FIVE THOUSAND AND NO HUNDREDTHS----------BOL~RS (i 45, 000, 00 . together with Inte~est theceon as hereinaEter scated in montWy installments oE THREE HUNDRED SIXTY TWO ~ AND 36/100---------------------------------------DO~RS (i 362.3b : , 17,e firat irataDmenc shari be dne and payabk a, the lOth a,y ~ May lg?7 ~ and subseqnent insmllmeots shall be due and payabk on tLe l Oth day of each and ev~ery calendar mon~h ~he~afce~ ~ nntil the principal and interest are f~lty paid. ' cr sums may be p~id at anp time. but thepa yment af any auch larger stuns in addition to tLe payments hecein re- q~~ ~ not relieve the makers of the payment of the monthly ianallments herein provided for, unless it is specifically stipu- lated by the make~s at the time ofps yment that such larger sums are to be applied to the advance payment of the m~thly install- ments next maturi~g in the order of their due dates. All payments made upon this note shaD be applied first to the payTneat of accrued interest and secondly up~ the pri~ipal. ~ This obligation shall bear interest from date at the rate of eight and one/half pe~ ~,c ( 8. 50 96 ) per annum until the principal and interest are fully paid. Interext for each calendar month shall be accnied on the first day of said mouth and be o~puted ~ the unpaid Ualance mo ~ of principal and interest e:isting on the Iast day of tlie preceding mo~th. This note shaD be considered in default whea anY Y- ~ ment required to be made hereunder shall not 6ave beea made by its dne date ands~aII remain in default until said payment ha~~r heen made. V~'hile in default, this note shall bear intemst at the rate of ~ Len- ` per cent i ( 10 96 ) Per annum in lieu of the rate hereinbefoze spedfied. { ( All makers and enclorsers aow or he~rafter~ partiea hereto jointly and severalty waive demand, notioe of non- i payment and protest, aad agree that in the eveot ~ defauTt in the payment afa~ inttallment due hereunder for a period of thirty (30) days the whole of said indebtedness shaII tLereupan at the option a~ t6e.holder, beoome immediately due and PaY- I able, and if this noce beoomes in defaWt and is plaaed in the hands of an attorney for collectiao, to pay reawnable attomey's fees and all other costs induding costs and attorncys fees of Appellate Court Prooeedings for maldng such rnllection. I This note may be prepaid in whole or in part at any time ~~~tho+~t penalty. ~ , ~ - _ _ - _ . (s~?L) . s/ Robert__S._ Sever_son (s~?L) , , ~ ~ Robert S. Severson j ' . ~ ~ (s~.) ---8/Jane_M. Severson . . (s~.) - - ~ ~ ~ Jarie-Zut: ~Severson ( This note is secured by a mortfiage of even date ezecuted by the makers in favor of Community Federal Savings and Loan Assn. ~ I of Ri.~cra B~ach ) ~ ~ and shall prom~]ype rEorm, comp}y with, and abide by each and every the stipulations, agreements, oonditions, and covenants of said prom- issory note aid o~ thic deed, t6en the estate hereby created shall cease and be mill and void. AND the Mortgagor dces hereby oovmant and agree: . 1. To pay all and singulu the principal end interest and other snms of moneY I~Yabk by virtue of said promissory iwte and this mort- gage, or either, Promptly on the daYs respectivelY, the same severallY rnme dne. 2. To pay all and sinSular the ta~ces, a~ssments, levies, liabilities, obligations and encumbranoes of every nature on said described pmp- erty each a~od everY when due and paYable according to law, before t}rey become delinquent, and if the same shall not be P~PvY P~d the Mortgagee may at any time either before or after delinquency paY tbe same without waiving or affecting tbe option to forecla~se, or any right hereunder. and evtrY P~Y~nt so made shall bear interest Erom the date thereof at the rate provided in said promissory note. 3. To keep the building~ and alleqtupment and peRaoal p~p~ notiv or hereafter on said premises, oow.tied by this mo*tgaSe, i~ured in a sum at least equal W tbe tmpaid balance of tbis mortSaBe, includiYng fit~ flood. ettetKled ooverag~ vandalism, malictioos mischief, and any other oovera8e reQ~ired by tLe mortgagee, ~ to propedies other iban dwellin~s and fire. flood. ertended caveraSe, specwl-form other-perils incuranoe, at~d any oUier oovera8e re4uir~d bY tLe mortaBee. on dwellings eli~b~e for suc~ broadeaed oo~verage - Piavld however, that ~ such insurance be in an amoimt sufficient to comp}y with any oo-ias~ra.?ce reqnin~menb oa~veriug swne under the laws of the~mte of Florida, a and provided further that tl~e policy or pdicies st?al! be written in a comp~ny or c~paniea and through m agency satisfactory to tbe Mort- ~ gagce and that said pdicy or policies shall be 6eld by the Mortgagee and shall besr a standard New York Mortgagee Clanse witl~out ooatr~n- tion,~~ tbe loss under said policies payabk to the Mortgagee as its fnterest may appear; and in the avent a~ wm ofma~e~r beoomes ~ payable under any such policy or policies, the Mortgagee shaII hav~e t6e oQtion to reoeive and apply the sama ~ aooount of t~e indebtedness ; hereby aecured, or to permit the Mort~agor to reoetive and ~ue it, or any part tbereof, for otber purposes, withoot thereby waiving or impair- ; ~ in8 anY eq~itY.liew or t~mder and by virtue oE this mat8a8e; and in the event the Mortgagor dces notoomp ly with this coveoant, the Afortgagee may p)~ace ~pay for such ianuance, or any part thereof, without waiving or affocting the option to f~rer]ose. or any right 6ere- ~ under, and the f~ill amo~nt of each a~ every such PaYment shall be inunediatdy dne an~d~a yabk, and shall bear interest from the date thereof until paid at the defauh rate provided in said aote and together with anch interest t6aD be secured by the lien of thismortgage. Iasur- r ance oo~verL~n~ the peril af flood damage ~all be as req~red by the Federal Disaster Protection Act of 1973,.or as amended, and mortgagor caveaants and agrees to oomp}y in aII rapec~ts with the pravislo~ thereof. 4. 'I7~at mortgagee may, at any time dnring the mo~tgage term, and in its discntion, app}y for renewal of mortga gnaranty ia~vrance covering tLe ge r.~ecuted by the undersigned on even date berewith.pa Y the premium due by reason thereof, and t'e9~ ~MY~t ~ by the uaders~~of such amawts as are advanced by said mortga~ee. In the event of failure by the undeisig~ed bo repaY shall~•rplio- ~ said mortgagee, snch failnre thell be considered a defaWt, and all pmvisio~u af the note aad mortgage with regard M defanit abk. 5. To pemiit, oommit or ~ffer no waste, impairmeat or deterioration of aidp . or ~nY P~rt thereof. and npon tbe failure of the . mortpgor to keep the buiidings on ~tid property in gnod oonditian of repair the Mort~ga may demaod the immediate repair of saW M~ild- i ang~, or an increase in the amonnt of security, or the immediaterep~~ment of tfie debt secured ~nd the failure of ibe MortSaBor to oom- PiY with ~id deuwnd of the Mortgagee for a period of tW~tY (30) daYs. s6aA co~itute a of this martg~ and, at the o~ption of the ~ Mortgasee, immediately macore tbe mttre amo~nt oE principal ~nd iaterest hereby sec~r«1. aad lmmediatdy aad wit~ont notlce, tbe Mortgagee ~ may iaititute praoeeding~ to foreclase this mortgage and apply for the ap~pointment of a Reoeiver as hereinaEttr pravtded. ~ K2s7 ~~~E ~ ~