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Home My WebLink About1508 TO HAVE AND TO HOLD the same, together with the tenemeab, betedltatnertb and appndemanoea, mto the Mortgagee, in fee simpb. AND the Mortgagor does hereby covenant with the Mortgagee that be is indefeasiby seized of said land in fee simple. t}wt 6e hu full power and lawful right to convey :aid larxl in ie:e sirnpb as aforesaid; that it shall be Lwful for the Mortkakoe at all tunes peaceably sail quietly to enter upp~r,n, hokf, arupY sail ropy said land; that aid land b free from sll incun,brarrees; that he will make such further avurar,ees to protect the fee simple title to said land in the Mortgagee as t~a~~!! reasonably be reciuirod; that be does hereby fully warrant the title to said land sail will defend the earns against the lawful claims of all persons whomwever. PROVIDED. ALWAYS. that if the Mostgagorr shall pay trots the Mortgagee the certain Promissory note of which the following in word: aril figures b a true Dopy. to-wit: COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEACH ~'~IIX#~M$E ~D#E RIVIERA BEACH. FLORIDA 1"~Y 8 s 19 79 t Befog indebted, for value received, the undersigned jointly swd severally promise to pay to COMI?fUNITY FEDERAL SAV- I INCS AND LOAN ASSOCIATION OF RIVIERA BEACH ut its office in the City of Riviera Beach, Fbrida, or order, the sum of THIRTY NINE THOUSAND SIX HUNDRED AND NO HUNDRBDTHS--------- (s 39,600.00 ) together with interest thereon as hereinafter stated in monthly installments of Three Hundred Seventy Eight and 83/100- - ------------------------------------,pUULLARS (6378.83 The first iastaWnent shall be due and payable on the 10th day °f October 1979 and subsequent installments shall be due and payable on the 10th ~Y o1 each and every calendar month thereafter until the principal and fnterrst_are fully paid. it the first payment mentioned above, interest shall be due and payable mon~~i~y. Larger sums may be ~fcl at any time, but the payment of any such larger sums in addition to, the payments herein re- ~ grrired sh not relieve the makers of the payment of the monthly instalhr,ents herein provided for, unless it is specifically stipu- lated by the makers at the tiure of payment that such larger swus are to he applied to the advance payment of the monthly install- ments nett mahrnng m the order of their due dates. All payments made upon this note shall be applied first to the payment of accnrrel interest and secondly upon the principal This obligation shall bear interest from date at the rate of ---Eleven------------- per cent ( 11.00 `yo) • per annum until the principal and interest arc fully paid. Interest for each calendar month shall be accrued on the first clay of said month and he eomputccl on the unpaid bal;uxe of principal and interest existing on the tact clay of the preceYliug month. This note shall he n,nsi<lerrd in default when any pay- ment required to be made f?emunder shall not have been made by its due date and shall remain iu d^fault until said payment shall have been made. \Yl,ile in default, this note shall bear interest at the rate of------f ifteen--------------per cent ( 15 96) per annum in lieu of the rate hereinbefore specified. All makers and endorsers now or hereafter becoming parties hereto jointly anti severally wai~•e demand, notice of non- pa}•n,ent and protest, and agree that in the event of defan t in the payment of any installment due herecmder (or a penal of thirty (3(1) days the whole of said indrl,tedness shall thereupon at the option of the holder, become immediately due and pay- able, and if this note becomes in default and is placed in the hands of an attorney for collection, to pay reasonal,Ic attorney's fees arKl all other costs including costs and attorneys fees of Appellate Court Proceedings for making such collection. - Thfs note may be repaid in whole or in rt at any time without penalty. S/KEVIN O. PEGPK, INDIVIDUALLY(SEAL) pECK CONSTRUCTION COMPANY j KEVIN O. PECK, INDIVIDUALLY S/ANN PECK, INDIVIDUALLY _ (S~,) _By _S/ALDEN F. _ PECK, _SR. , PRESIDENT (SEAL) ANN PECK, INDIVIDUALLY ALDEN F. PECK, SR., PRESIDENT i S/ALDEN F. PECK, JR.,INDIVIDUALLY S/ALDEN F. PECK, SR., INDIVIDUALLY . ,-~hfif~iTf~JA1.LY(S~) AI.DEN F. PECK SR. , INDIVIDUALLY (SEAL) } ('Chic note is secured by a mortgage of even date executed by thr makers fn fa. or of (:o,nmunih• Federal Savings and Loan Assn. ~ of iti~-iara Beach ) t aced shall promptly perform, comply with, and abide by each and every the stippulations, agreements, corniitiorss, and covenants of said prom- is~ory note and of this deed, then the estate hereby created shall cease and t,e null and void. A\D the 11~ortgagor does hereby covenant acrd agree: 1. To pay all anti singular the principal and interest acrd other sums of money payable by virtue of said promissory note and this mort- _ac;e, or either, promptly on the days respectively, tlre~me severally come due. To pay all and singular the taxes, assessments, levies, liabilities, obligations and encumbrances of every nature on said described prop- ~rq• each and every when due and payable according to law, before they become delinquent, and if the same shall not be promptly paid thr i~furtgagee may at any time either before or altar delinquency pay the same withewt waiving or affecting the option to foreclose, or ury right hereunder, and every payment so made shall bear interest [rom the date thereof at the rate provided in said promissory 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 smn at bast equal to the unpaid balance of this mortgage, including fire, flood, extended coverage vandalism, malicious mischief, and ury other coverage rerluued by the mort¢agee, as to properties other than dwellings and fire, flood, exten~ed coverage, special-form other-perils insurance, and any other coverage recprirecf by the mortagee, on dwellings eligible for such broadened coverage -provided, however, t)?at such insurance l,e in an amount sufficient to comply with any co-insurarwe requirements covering same under the laws of the State of Florida, s' and provided further that the policy or policies shall be written in a company or companies and through an agency satisfactory to the Mort- - t;age•e and that said policy or policies shall I,e held by the ;•lortgagee arx( shall bear a standard Nesv York Mortgagee Clause tiitlrout conlrihu- tion, n,akin>; the loss u ar said policies payaldc to the \lortgagee.;as its interest may appear; and in the event any sum of moray becomes ~ ppis able unc)er an}- snch policy or policies, the Mortgagee shall have the option to receive acrd apply the same on account of the indebtedness !c~•rrby ucun•d, or to permit the \lortcagor to receive and use ft, or any part thereof, for other purposes, without thereby waiving or impair- . ic;_ any equity, lien, or ri>;ht under and b}• virtue of this mortgage; and in the event the 1lfortgagor does not comply with this covenant, the \furtg:rgee n?ay places anti pay for such insnrancc•, or any part thereof, wtthont waiving or affecting; the option to foreclose, or any ris•ht here- ender, anJ the frill :uuuunt of each and every such pa}•ment shall be immediately doe and payable, and shall bear interest from the date thrrecf until pail at the tlcfault rate provided in said note ana toi,•ther with such interest shall he secured by the lien of this morts;aee. Imnr- ~ ante coverin>' the peril of flood danrea<e shall he as require~cl by the Federal Disaster Protection Act of 1973, or as amended, and mortg;ag;nr . ovcuants and aKre't•s to comply in all respects .with the provisions thereof. 4. That mortcager• may, at an}• time during rice rnortgag~e term, and in its discretion, apply for renewal of mortgage gnaranly in~nr•,:ncc ove•ring the nmacaL,• cxe•cnte•d by the undersic:nc•d on tyro date herewith, p.•?y the premium due by reason thereof, and require repayment c~}• the undc;.igued of snch :unnuntc as are adv.mced by said rnnrteagee. In the event of failure by rice undersigned to rcpp•ry said amount. to said mortg:agce, such failure shall be coruic'~reJ a default, and all provisions of the note and mortgage with regard to default shall {:e applic- : able. S. To permit, commit o: suffer ern waste, impairment or deterioration of said property, or any part thereof, and upon the' failure of the ~ :ccurtg;agor to k<•c•p the huildin ~s on sail property in gcxxl condition of repair, the MortgagLCe may demand the immediate repair of said build- j fuQ~, or an incvf•asc in the amount of sec•arity, or rice immediate re~ayr~ent of the debt hereby secured and the faihur of the rtortg;acnr to rnm- e ptv- with said demand of the htortratvee.(or a pcriorl of thirty (3l1) days, shall constihrte a breach of this mortgage, and, at the option of the \lnrtgagee, imrr>,•diately mature the entire amount of principal and interest hPrPhy secured, and immediately and widrout notim, the \lortgaKex may :r,stitute proceedings to foreclose this mortgage and apply for the appointment of a Receiver, sas heQinafter providedQQ. BOGK 3U8 ~a!'c ~~UrJ - - - - - - ti _