HomeMy WebLinkAbout0033 'I'O HAYk AND TO HOLD the s~une, together witL the teaeu~eab. betalit~meab and appurteaaooa. twto tbe Mo~t8~a8ee. in fee simplc.
AND the MartBagor doas hereby ooveaant with ehe Mortg~gee that he b indefeuib~i retr~ed af aW Iand tn fee timple, that Ls 6~s
!uU po~ver anci lawful right to con~•ey said lanl In fee slmpk as afor~alci; that it ~hall ba lawful tar the Mo~agea at aU tin~espc~acaably
and quietly to enter upo~~ hold.occup~ and eopy sa~id land: that taid land tt f~es ~rom dl incumb~uwe~: ttutt he will awke such but!?er
assuranoas to protect the fae simpb Ntb W ssid laad to tha I?io~rtB~ ee aa m~ roasooablr be required; that bs doa heteby fully wur~n!
che acb co sa~d knd aad will defend d,e ame ~be lrw[ul ~ 3i
PROYIDED, ALWAYS. that if tL~ lrtat~~ ~1l pqr no0o tbs Mortga~es tLs oe~tain proo?iwory nds of w~fikli Hs tol{owins ia
w~a~d~ sod fisura i~ ~ t~ns ooq. b wlt:
COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF li~IVILRA BEACH
~ ~DX#~M~E ~D#e
~
j October 2? ?8
RMERA BEACH. FLOHIDA • 19
i Baing indebted. fo~ vdue reoeived. the uAdersi~oed 1dat1Y ~ad seve*+11Y Dromi~e to paY to OOMMUMIY FEDERAL SAV-
, WCS AND LOAN ASSOQATiON OF RIVIEAA BEACH at ib offioe in the City oE Rivtera Beac6. Flo*ida. or ordar, tbe mm of
I FIFTY THOUS~AND AND NO HUNDREDTHS------------------DOI.[r?ns 50, 000. 00 )
toxxether wt~L tnte~~at che,~eou he~er stacal ao~cWy tns~lim~nts ot Four Hundred Thirty Six and
I851 100--- - ----------DOL~.~xs (i 436. 85
T~s f~ i~m~t s6aU be duo and wyable on d~e l Oth ~y ~ April 19 79
and sub.eqneat in~al~ats a6all be due .nd p.yable on the l Oth day cf each and every csileodar ma?th thereefcer
~ p*~~ Until the first payment mentioned above, interest
~ ~~dm~ b~~i~~~m~.'D~Wbi~[ymeat of .nr s~ch lu~ ~s in addttIon m the paym~ts herein re-
qvired ah~ll not reHev~e the make~s of psymeat of ine monthly iasaIImeats Lereln provided for. unleu it is spedficaIIy stipu-
lated by tLe makers at the time ofpa
yment that such lar~er sums are to be app4ed to the advance payment of the mont}ily tastall-
I ments ~ct matur~g In the order of their due dates. All paymenb mada upon this note shall be appliad fir:t to tl~e WYment of
aocrued interest and seoondlY P*~Pv-
~
j This obligation shall bear interest from date at the rate oi nine and one/half-----~ ~t ~ 9. 50 %6)
~ per annum until the principal aad interest are fully paid.
i Ioterat for euh calendu m~th shall be aacrued an tbe fiTSt day af s4id month and be oomputed on the unpaid baLnce
of principal and interest ~ng on the last day of the preoeding month. 'Phit note thaIl be considered in defauh whea anY Y-
! ment required to be made 6ereunder shaU not have beeu made by its due cLte snd thall ~emain in defanlt until said paymeut ~aD
have beea made. Wbib in deEa~lt, this note shs~ll beu interest tt the nts af - - - - - - - ten- - - - - - - - - - - - - -~r cent
~ 10 'X am,nm m Lea of tLe rate hecanbefae ~pedRed.
All maken and wdarsers no~v or heraifter ~ p~rHas herebo ~ointy and ~everally waive demand. m~ riod of
payment and protest, and agree that in tLe event af defa t ia thepa
ymeot ofaay ~tallmmt due Lereunder for a
thirtY (30) days tLe whob af afd indebEednen shall tLerevpon at the option oE the haWer. becaase immedia due ard pay-
a~nd'all other coats inclnding c~s andult~ i plaaed A
th~~
~ m~ t~o
pay
~ attorney's fees
fea o~
This rate may be pnpaid in vrLde or in part at a~r time without penalty.
(SSAIa Sf..Iacl~~_-]K~.i.te------------- - ---(S~)
Jack O. Z9hite
I - ~wi
i S-/-Reva --D. -~lK~ite-------- - - - --(SEAL)
i R ~ ~ W~
, (This note is s~ecnred by a modgage of even date a~ecated by the ma~Cers in avor unity Federal Savings and Loan Assn.
of Ri~ticra Beach ) ~
i -
I
~
i
and shall p orm. oomP}Y with, and abide by ea~ and everY die a~emxatr, oonditiom, and oovenants af said prom-
issory note a~ t~s deed, tLea the estate Lereby created shall cease and nu11 and vnid.
MID tLe Mortg~gor dces he:eby ooveaant and agree:
~ l. To pay a11 and sin8~* ~ P~Pa1 and interat and other ~mt af mo~neY Wi'able by v[rt~e af said promissory note and thL mort-
BaBe. or either. prompdy on the dan resPecxivelY. tbe s~me sev~eral}y eame due.
2. To pay aU and singiilar tLe tues, asseumenta, bvie~ liabilitie~, obligations and eacumbraaces of every nahue on said deecribed prop-
E erty each and avery when due and payable aaordin8 to ]aw, before tLey beoome delincluent, and if the same ahaD not be P~Pt1Y P~d
~ any night~hereundi.aand erery PaYmeat ~de sha~ beu~
~~~om ~te ~reo~ at~thegrate proW~ed in sa~~d
~
tpromiaory n~obe.~
3. To keep the buildings and alleq
uipmeat and persooal p~rty nav or 6erafter m said pramises, oove~ed bry? tbis mortgage, [n:ured ~
in a sum at least equ~l to the unp~id balanoe af tLis mortgaSe. indading fi~ flood, estendod oovcra~e, v~andaWm, malicious mischief, and
any other coveragerequired by the moctgegee, as to properties otber than dvpellin aad fire, flood, eiteoded coveraga, special-form ot6er-perila
~ insurance. and any other ooverage reqnired by the mortagec, on dwellings eligl~e for suc~ brwdened coverage- P~ hovvever, thst
~ such Luuranc~be fn aa amount sufficient to .oomp2y with aay co-insnianae requiremenb covering same under the laws af the tato of Fbrida,
and pravided further that t6e policy or policiea shajl be wRittea in acompany or oompanies aud throug6 an agency satisfactory to the Mort-
~ gagee atd that said policy or policies s6all be held by the I?~ortgagee aod sha~ bcar a~aadard New York Matgagee Clause without oonMbu-
tion, maling the b~s under said policies payable to the Mo~rtgagee as its interest maY aPPear; and in tbe event any sum ofmoney beooma~
; paya~ble under any such policy orpo
licies, the Mortgagee shall hav~a tLe option to reoeive and apply tLe same on aa:ount of t~e indebtedness
hereby secured or to pem~it the Mortgagor to reoeive and use it, ar a~ part theroof for other purposes. without tbereby waiving or impair-
i in8 anY «luity, liea, or rtght ~nder and by virt~ of thia mortgage; and in the eveat ~the Mo~tgagor does not comply with this t, t6e
? Mortgagee may pl~a~ce and pay for such insurance, or anY Part thereof, withant waiving or affec~ng the c~tia? to f~reclose, or any
ri~g6t here-
' under, and the full amount of each and every sucL payment shall be immediatdy doe an~d~~ayable, and shall bear interast from the date
~ thereof untll paid at the default rate provided in said nate and together with ~ch tnberest shaIl be tecuredbr t6e lien of thisroo~t~age. Insur-
~ ance oaverug the peril of flood damage :ha11 be as r~eqnired by the Fedenl Dttaster Proeection Aa oE 1973, or as amended, and mortgsgor
s cmenanb and a~ed to oomply in aIl reape~ts with the pro~uioas thereof.
4. That uwrtgagee may, at any time during the mortgage berm, and ia its discretion. aPP~Y for rtnewal of~ mortgage guaranty insurance
~ covering the mortgsge ezecuted by. the undersigaed on even date herewitl~,pa
y the premium due~y n~son thereof, and require teps~yment
by the uudersignecl of such amounts as are advanced by said mortga~oe. In the event of failure by tbe unde~si~od bor~aY said amounta W
~ said mortgagee, such failure :haII be can~ddcred a defauk, and aD provisiow of tLe note and mortga~e with regard to defa~lt shaD be applic-
able.
~ 5. To pern~ii, cammit or :uffer m waste, impairment or deterioration of ~idpr , ar anY Part thereof. and npon tbe failure of the
~ mortgagor to keep :he buildings on said property In good oondition of repair the o14[~rtg~a may demand the immediate tepair of said build-
~ ings, or an increase in the amount oE security, or the inunediate ~m ent of t~e del~ here secvred and the failure of the 1?iortgagor to com-
ply with sald demand of the Mortgagee for a period of tbirty (30 days, s6all oonstimte a of this mortga ge and, at tbe option of the
lfortgagee. immediately mature the entin~ amount of principal interest hereby:ecured, and immediately and with~t notioe. the Mortgagee
~ may iactitute proceedingi to foreclose this mortgage aod apply far the ap~pointment of a Reoetver. as h~einafter pim~ided. ~
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