HomeMy WebLinkAbout1224 TO IIAYF. AND TO IEOLD the aau~e, together with the tenement, beredltamenb and appurteoaaoes, unto the Mortgagee, in fey. simply.
AND the Mortgagor does hereby oovecunt with the M that 6e h indefeasi~]y seized of uird land in fee simple, that be bas
full power and lawful light to convey said land to fee simpk as oresaid; that it shall be lawful for the Mortgagee at all times peaceably
and quietly to enter upont hold, occupy and enjoysaW land; that said land h Eras from aq incumbrances: that 1?e will make such further
assuntnces to protect the fee simpk ti to said land to the Mortgagee st ma reasonably be tatuired; that he does hereby fully warrant
the tick to said land and will defend the :acne agsiast the lawful clairm of s~ pasaas whomsoever.
PROVIDED, ALWAYS, that if tba Mortgagor abaII pq tmto dte Mortgages the certain promissory note of whkb the following m
weeds and figures b a ryas Dopy. t+o-w?/t:
C011i>riUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF B~IVIERA BEACH
~11X~~M$8 ~~4tE
i
' RIVIERA BEACH, FLORIDA March 2 , 19 79
Being indebted, for vahee received, the undertigoed jointly sad severally promise to pay to COMMUNITY FEDERAL SAV-
INCS AND LOAN ASSOC.'IATION OF RMERA BEACH at its office in the City of Riviera Reach, Florida, or order, the sum of
~i THIRTY SIX THOUSAND EIGHT HUNDRED AND NO HUNDREDTHS-----------~~~(= 36,800.00 )
{ together with interest thereon as hereinafter stated in monthly installment of Three Hundred Eighteen and
--------------------------------------------DOLLARS (i 318.04
04/100-----------
1 The first installment shall be due and payable w the 10th day of August 19 79
and subsequent installments shell be due and payable on-the 10th day of each acrd every calendar month thereafter
emt11 the prindpal and interest are fuIIy Paid. Until the first payment mentioned above, interest
shall be due and ~ppa a mo thtt~~~~
~ Lar~r sums may bb ~ soy t~me,lfieE the payment of any such Iarger sums in addition to the payments herein re-
quired shaIl not relieve the maioers of the y~at of the monthly ins~lments herein provided for. unless it is specifically stiPu-
Isted by the makers d the time of paymeaiaWat such lamer sums are to be applied to the advanos payment of the monthly install-
! menu nest maiurmg in the order of their due dates. All payments made upon this note shall be applied fiat to the payment of
accneed Interest ar~d secondly upon the PrinciPaL
This obligation shall bear interest from date at the rate of nine and three/Quarter~,er cent ( 9.75
per annum until the principal and interest are fully paid.
Interest foi each calendar month shall be aocneecl on the first day of said month end be canputed on the unpaid balance
of principal and interest eshting on the last day of the preoedwg month. Thh note shall be considered in default when any psY_-
meat required to be made hereunder shaIl not have been made by its due date and shall remain in default until said payment shall
have been made. While in default, this note :ball bear interest at the rate of _,,,____--Fifteen---------~ per cent
i ( 15 '1k) Per annewa in lieu of the rate hereinbefore sped$ed.
All maker and endorsers sow ~ hereafter parties hereto jadntly .and severally waive demand, notice of non-
Qayaaeat and protest, and agree that in the event of default in the ppaayment of a~? installment due hereunder Eor a period of
i thirty (30) days the while of said fndrbtedne:s sbeII tbereerpoa at the option of the holder, become immediately due and PaY-
i able, and if this note becomes in dehult and h planed in the hands of an attorney for oollectian, to Pay reasonable attorney s fees
and all other costs including coats and attorneys fees of AppeDate Corot Proceedieegs for making such collection.
This note may be prepaid in whole or in part at any time w;cheat penalty. -
MYLEE HOMES, INC.
~ ----(S~ -fly-~--F11em-J-.-6t~tarl-,-P~eslde~tt------ -.(S~)
Ellen J. Guterl, President
___--(SEAL) -S1E11sn.,L-.~uterl,_--Individual-ly -----.(SEAL)
_ p Gtr Tn~ { ~ 1 _
t I note is secured by a mortgage of even date a=ecuted by the makers~efavoJr~of ~.ommruln$y FsderaYS~i~i~ ~d Loan Assn.
( of Ris;era Beach )
I
E
and shall prom~]y perform, Damply with. and abide by each and every the stipulations, agreements, eonditiom, and covenants of said prom-
1 issory note and of this dead, then the estate hereby created shall cease and be null and void. -
` AI~'D the Mortgagor does hereby covenant and agree:
1. To pay all and aingu4r the principal and interest sad other sums of »Y payable by virtue of said promissory note and this mort-
gage, or either, promptly on the days respectively, the same severity Dome due.
~ 2. To pay- aII and singular the tares, assessments, levies. liabilities, obligations and encumbrances of every nature on said described prop-
erty each and every when due and payable aocordiag to law, before they become delinquent, and if the same shag not be Pr~PUY Paid
the Mortgagee may at any time either before or after delinquency Pay the same without waiving. or affecting the option to foreclose, or
any right hereunder, and every payment eo made shall bear interest from the date thereof at the rate provided in ssid promissory note.
3. To keep the buillings and all equipment and persond property now or hereafter an said premhes, covered by this mortgage, insured
= in a sum at least equal to the anpaid balance of this mortgage, induding fire; flood, mended coverage vandalism, malicious mischief, and
wellin
any other coverage required by the mortgagee, as to properties other than d gs and fire, flood, exter~ed coverage, special-fora other-Perils
insurance. and any other coverage required by the mortagee, on dwellings eligible far such broadened crn~erage -Provided however, that
such insurance be in an amount sufficient to comply with a~ co-insurance requirements covering same under the laws of tbe Strafe of Florida,
and provided further that the policy or policies shaII be written in a company or oompaniea and through an agency satisfactory to tie Mort-
gagee and that said policy or policies shaII be held by the Mortgagee and shall bear a standard New York I?fortgagee Clause without oonlribu-
tier, making the loss under said policies payable to the Mortgagee as its Interest may appear: and in the event any sum of becon>es
Y yable under any such policy orpob
cees; the Mortgagee shaII hays the option to receive and apply the same on account of the indebtedness
hereby secured, or to permit the Itifort or to receive and use it, or a»y part thereof, for other purposes, without thereby waiving or impair-
ing an}r equity, lien, or d$ht rmder and by virtue of this mortgage: and in the event the Mortgagor does not compply with this covenant, the
Mortgagee may pl~a~ce and pay for such insurance, or any part thereof, without waiving or affecting the option to fa~reclose, a any right here-
under, and the full amount of each aexl every such payment shall be immediately due and payable, and shall bear interest from the date
y thereof until paid at the default rate provided in said note and together with such Interest shall be secured ly the lien of this wortgage. Insur- -
r once coverea the peril of flood damage shall be as required by the Federal Disaster Prote+ctim Act of 1873, or as amended, and mortgagor
covenants and agrees to comply in all respects with the provisions thereof.
4. That mortgagee may, at any time during the mortgage term, and in it discretion, apply for renewal of mortgage guaranty insurance
covering the mortgage executed by the undersigned on even date herewith, y the premium due by reason thereof, and require repayment
by the undersigned of such amounts as are advanced by said mortgagee. In t~ event of failure by the undersigned to y said amounts to
said mortgagee, such faihue shall be considered a defauk, and aD provisiom of the note and mortgage with regard to default ahaD be applIo-
able.
5. To permit, commit or suffer no waste, impairment or deterioration of said pro , 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 demand the immediate repair of said build-
ings, or an increase in the amount of security, or the immediate yymm~nt of t~e debt hereby secured and the failure of the Mortgagor to com-
ly with said demand of the Mortgagee for a period of thirty (30~riays, shall constitute a breach of this mortgage sod, at the option of the
Mortgagee, immediately mature the entire amount of principal aanndd interest hereby secured, sad immediately and wit~hwt notice, the Mortgagee
- may institute proceedings to foreclose this mortgage and apply for the appointment of a Aeoeiver, as hereinafter provided.
a~r304 Q~~~~
- - - _