HomeMy WebLinkAbout2275 TO llA~'G AND '1'O BOLD the seine, togct}rer with the tenements, hereditameats and appurtenances, unto the Mortgagee, io fee simple.
AND the Mortgagor does lrereby ooverurnt with the Mortgagee that 6e is lndefeasiblx seized of said land is fee dmpb, thtt be has
full power and lawful right to convey said lark! in fee simple as aforesaid; flat it shall be lawful for the Mortgagee at all tiwrs p~.aceahly
uu~l quietly top aster upvnt hoW, occupy arxi en' y said larxi; that said land is free from all encumbrances; tlwt he will make such further
a>,uruncex to rotect the ee sun le title to land in rho Mort ~uggee as rrra reasonably be required; that he does hereby fully wamnt
the title to said land and sill defend the same agairut the lawfu~ claims of ~ perwm whomsoever.
PROVIDED. ALWAYS, that H the Mortgagor ahaD pay onto the Mortgages the oertaio promissory cote of which the following In
words and Hgures le • taste Dopy, to-wdt:
COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEACH
~qX#~II~E ~UfE
RIVIERA BEACH, FLORIDA Jolltx}r ~ 19 `t`(
Being indebted, for value received, the undersigned foinQy and aeveraDy promise to pay to COMMUMTY FEDERAL SAV-
1NGS AND LOAN ASSOCIATION OF RIVIERA BEACH at its office in the City of Riviera Beach, Fbrida, ar order, the sum of
FOR~y ~}~E THOUSAND TWp HUNDRED ~ NO HjJND ED S------- (i 43,200.00 ~ )
together with interest thereon as lrereinafcer stated m monthly msta~mea~of Three Hundred Seventy Three and
34/100-------------------------------------------------------- DOLLARS (i 373.34
The first installment shaD be due and payable on the 10th day of June 19 79
and subsequent installments shall be drre and payable oo the 10th day of ach and every calendar month theeeaker
until the principal and interest an fuIIy paid.
Larger Burns may be paid at an time, but the payment of any such larger sums in addition to the payments herein re-
quired shall not relieve the makers of We payment of the monthly irstallments herein provided for, unless it is specifically stipu-
lated by the makers at the time of payment that such larger sums are to be applied to the advance payment of the monthly iastaD-
ments cent ma~~riag in the order of their due dates. All payments made upon this note shall be applied first to the payment of
accrued interest and secondly upon the principal. .
This obligation shall bear interest from date at the rate of nine and three/quarter~r cent ( 9.75 96 )
per annum until the principal and interest are fully paid. -
Iaterest for each calendar month shall be accrued on the first day of said month and be computed oo the unpaid balance
of principal and interest existing oa the last day of the preceding month. This note shall be considered in default when any pay-
meat required to be made hereunder shall not have been made by its due date and shall rernain in defauh until said payment shall
have been made. While in default, this note shall bear interest at the rate of_-_____--ten---------------per cent
~ ( 10 -'16) P~ annum in lieu ~ the rate hereinbefore specified.
All makers and endorsers now or hereafter parties hereto jointly and severally waive demand, notice of non-
paymwt and protest, and agree that in the event of defa tin the payment of rnstallment due hereunder for a period of
thirty (30) days the whob of said Ldebtedness shall thereupon at the aptim of the holder, become immediately due and pay-
able, and if this note becomes in default and is m the hands of as attorney for collection, to psy reasooabk attorney's fees
and all other costs including costs and attorneys fees of Appellate Court Proceedings for making such collection.
'This note may be prepaid in whole or in part at any time without penalty ~i4i~
~c~E-•CXct~G~
- - ----------(S~> S/Edward .ALnQld_-Hr11S><-------- - - -...(SEAL)
i Edward Arnold Brost
--,---------(gF~,) S/Angelina _ Brost ~~i 'r.~. EAL)
p~Q ~1
{This note is secured by a mortgage of even date executed by the m- aicZrrs In favorB~~mmu ty Federal Savings and Loan Assn.
~ of Riviera Beach)
f
{ -
[ and shall promptry perform, comply with, and abide by each and every the ulations, agreements, ooaditions, and covenants of said prom-
; i:sory note and of this deed, then the estate hereby created shall cease and null and void.
A,\D the Mortgagor does hereby ooverrant and agree:
pay money Payable by virtue of said promissory note and this mort-
1. To all and sittguhrr the Principal a~ interest and other sums of
~aRe, or either, promptly on the days respectively. the same severally come due.
j 2. To pay all and singular the fazes, assessments, levies, liabilities, obligations and encumbrances of every nature on said described prop-
- arty each and every when due and payable according to law, before they become delinquent, and if the same shall not be promptly paid
the Mortgagee may at any time either before or after delinquency pay the same without waiving or affecting the option to foreclose,. or
my right hereunder, and every payment so made abaD bear interest from the date thereof at the rate provided in said promissory note.
s 3. To keep the buildings sod aU eeqquipment and personal property now or hereafter an said premises, covered by this mortgage, insured
in a sum at least equal to the unpaid balance of this mortgage, including fire flood, ertended coverage vandalism, malicious mischief, and
l any other rnverage required by the mortgagee, as to properties other than dwel~inggss and fire, flood, erten~ed coverage, special-form other-perils
' inurance, and any other coverage required by the mortagee, on dwellings eligr'b~e for such broadened coverage -provided however, that
such insurance be in an amount sufficient to comply with any co-insurance requirements covering same under the laws of the Mate of Fbrida,
:end provided further that the policy or policies shall be written in a company or companies cad through an agency satisfactory to the 1?iort-
c;agee and that said policy or policies shall be held by the Mortgagee and shall bear a standard New York Mortgagee Clause without rnntribu-
tion, making the loss under said policies payable to the Mortgagee as its interest may appear, serf in the event any sum of money becomes
payable under any such policy or policies, the Mortgagee shaII have the option to receive and apply the same on acooiurt of the indebtedness
hereby secured, or to permit the 1?tortgagor to receive and use it, or any part thereof, for other purposes, without thereby waiving or impair-
' ing any equity, lien, or right under and by virtue of this mortgage; and in the event the Mortgagor does not rnmply with this covenant, the
!Mortgagee may place and pay for such insurance, or any part thereof, without waiving or affecting the option to foreclose, or any right here-
` under, and the full amount of each and every such payment shall be immediately due and payable, and shall bear interest hem the date ,
s thereof until paid at the defardt rate provided in said note and together with such interest shall be secured by the lien of this mortgage. Irssrrr-
F once covering the peril of flood damage shall be as required by the Federal Disaster Protection Act of 1973, or as amended, and .mortgagor
- co~•enants and agrees to comply in all respects with the provisions thereof.
4. That mortgagee may, at any time during the mortgage term, and in its discretion, apply for renewal of mortgage guaranty inswancr
- covering the mortgage executed by the undersigned on even date herewith, pay the premium due by reason thereof, and require repayment
by the undersigned of such amounts as are advanced by said mortgagee. In the event of failure by the undersigned to ray said amounts to
sari mortgagee, such failure shall be considered a default, and all provisions of the note and mortgage with regard to default shall be applic-
al,le.
5. To permit, commit or suffer no waste, impairment or deterioration of said property, or any part thereof, and upon the failure of the
mortgagor to keep the buildings on said property in good condition of repair the Mortgagee may demnnd the immediate repair of said build-
? ings, or an increase in the amount of security, or the immediate m~aymeat of t~e debt hereby secured and the failure of the Mortgagor to com-
ply with said demand of the Mortgagee for a period of thirty (30) days, shall constitute a breach of this mortgage, and, at the option of the
~tortgaf;ce, immediately mature the entire amount of principal and interest hereby secured, and immediately and without notice, the I~fortgagce
riay institute procer~ings to foreclose this mortgage and apply for the appointment of a Receiver, as hereinafter provided.
3QG!c ~1 PAGE 227 ;
_ - - - - T _ - -
- _ _ _