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Home My WebLink About1564 TO HAVE AND TO HOLD the sauce, together wiW the tenements, bereditameats and appurtwanoes, unto the Mortgagee, in fee simple. AND the Mortgagor does hereby covenant with the MoKga~ee that be is lodefeasfb}y seined of said land in fee simpb, that hs has full power and lawful right to con~ry said land io fee simple as aforesakl; that it shall be Lwful for the Mortgagee at tU time peaceably and quietly to enter upa~ hoW, occuppyy and en saW land; that said land iz free from aU incumbrar?ces; that he will make such furtbae asuranoes to protect the foe simple title to saW land in the Mortgagee as nu reatowbly be required; that he doe hereby fully aarr~t• , the title to said Lana and will defend the same against the lawful claim: of a~ person whoaitsoever. - PROVIDED, ALWAYS. that H the Mortgagor shaII pq into the Mortgages the oeataln promissory note of which tbs tanosvtns is words and figures b a true Dopy. to-srit: . . COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEACH I ~DX~~~~B ~D~E RIVIERA BEACH. FLORIDA April 16 19 79 Being indebted, for value received, the undersigned jointly and severally promise to pay tD COMMUNITY FEDERAL SAV- WGS AND LOAN ASSOCIATION OF RIVIERA BEACH ac its office to the City of Riviera Beach, Fbrida, ar order. the sum of SIX THOUSAND THREE HUNDRED AND NO HUNDREDTHS------------- 6,300.00 ) together with interest thereon as hereinafter stated in monthly instaDments of ONE HUNDRED THIRTY FIVE AND 42/100-------------------------------------=------------ DOLLARS (i 135.42 The first inttalhnent shall be due and payabb on the 10th day of May 19 79 and subsequent instalLmenta shall be due and payable on the 10th day of each and every cedar month tbereaher nail the principal and interest are fully paid. 1 I.artter sums may be paid at trine, but the payment of am such larger sums in addition to the paymcents herein re- ~ quired s66salIIi not relieve the makers payment of the monthly ants herein provided for, udcas it is spa~ficaDy 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 iastall- meats neart ma~~riag in the order of their due dates. All payments made upon this note shaD 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 r Dent ( 96 ) per annum until the principal and interest are fuDy paid. ten and one/half Pe 10.50 Interest for each calendar month shall be aecnied on the first day of said month and be eompnted m the unpaid balance i ~ Principal and interest existing oa the last day of the preceding month. This note soak be ooatidered in default when anY paY~- matt required to be made hereunder shall not have been made by its due date sad shall remain in default until said payment :hall have been made. Whit in default, this note- shall bear interest at the nbe cif fifteen---------- Per cent 1 - ( 1S 76) Par annum in lien of the rate hereinbefore spedfied. J AII makers and earlorsers now or herafter parties hereto )orally and severally waive demand, notice of non- payment and protest, and agree that in the event of defa tin the payment of a~? rnstsllment due herermder for a period of . thirty (30) days the whole of said indebtednes: shall thereupon at the option of the holder, becaane immediately due and PsY- able, and H this note becomes in default and is placed in the hands of an attorney for collection, to pay reasonable 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 nay time without penalty. (SEAL) -S/_))Ltl~~_.hL~_1~RL~fry_---...- (SEAL) - Bruce W. Kelsey (S~,) -s/Patricia M. Kelsey (Sg,~,) P~tr~c~a M. j~Celsey (This note is secured by a mortgage of even date ezecuted by the ma ers in avor of mmumty Federal Savings and Loan Assn. of Rr.~era Beach ) and shall prom~]y ~rf~na, cemply with, and abide by each and every the ulatiaaa, agreements, conditions, and covenants of said prom- ` issory note and of this deed, then the estate hereby created shall cease and nuD and void. AND the Mortgagor does hereby ooveoant and agree: 1. To pay all and singular the principal and interest and other sums of money Payable by virtue of said promissory note sad this mort- gage, or eitber, promptly on the days respectively, the same severally awe due. 2. To pay aD and singular the fazes, assessments, levies liabilities, obligations and encumbrances of every nature on said described prop- erty each and every when due and payable aoconling to few, before ~y become delinquent, and if the same shall not be promPdY PaM the Mortgagee may at any time either before or after delinquency pay t}ie same without waiving or affecting the option to foreclose, or any right hereunder, and every payment so made shall bear interest from the date thereof at the rate provided in said psonaiSSOry note. 3. To keep the buildings and all equipment and personal property now or hereafter on said premises, covered by this mortgage, insured in a sum at least equal to the unpaid balance of this mortgage, wcluding fire, foal, extended coverage vandalism, malicious mischief, and any other rnverage requaed by the mortgagee, as to properties other than dweDin~ and fire, flood, ezten~ed coverage, special-form other-perils x insurance, and any other coverage required by tbe mortagee, on dwellings eli ' ~e for such broadened wverage - Provider, however, that such insurance be in an amount sufficient to eompl_y with any co-insurance requirements covering same under the laws of the State of Florida, = and provided further that the policy or policies ssth~aallll be written in a company or companies and through as agency satisfactory to the Mort- - gagee and that said pollry or policies shall be held by the Mortgagee and shall bear a standard New York Mortgagee Clause without oontribu- ' lion, makia the lass under said policies payable to the Mortgagee as its interest may appear; and fn the event any sum of money becomes payable under any such policy or policies, the Mortgagee shaD Gave the option to receive sod apply the same on aooamt of the indebtedness s hereby secured, or to permit the Mortgaggor to receive and use it, or any part thereof, for other pwposes, without thereby waiving or impair- a ing any equity, lien, or right under and by virtue of this mortgage; and in the event the Mortgagor does not compply with this covenant, the Aiortgagce may place and pay for such insurance, or any part thereof, without waiving or affecting the option to f~reclase, 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 from the date thereof until paid at the default rate provided in said note and together with such interest shall be secured by the lien of this wortgage. Insw- ~ once covering the peril of flood damage shall be as required by the Federal Disaster Protection Act of 1973, or as amended, and mortgagor covenants and agrees to comply in all respects with the provisions thereof. x 4. That mortgagee may, at any time during the mortgage term, and fn its discretion, apply for renewal of wortgage guaranty inswance 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 failwe by the undersigned to repay said amounts to said mortgagee, such failwe shall be considered a default, and all provisions of the note and mortgage with regard to default shall be applk- able. 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 goad rnndition of repair the Mortgagee may demand the immediate repair of said buikl- trigs, or an increase in the amount of security, or the immediate ymant of t~re debt hereby secured and the failure of the Mortgagor to rnm- ply with said demand of the Mortgagee for a period of thirty (30days, shall rnrsstitute a breach of this mortKage, and, at the option of the ~tortgagce, immediately mature the entire amount of principal a interest hereby secured, and immediately and without notice, ffie Mortgagee may institute proceedings to foreclose this mortgage and apply for the appointmentss~~o~~f~~a Receiver, as hereinafter provided. 900K till PAGE - J lam!'-~=