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HomeMy WebLinkAbout2557 . , 'ISO HAVB AND 1'O HOLD tha sans togetMe with the leaeorenb.las~aciitnaasts aid eppmt~eoeet mlo tha lbstiagaar Ls fen ttlatpis. AND tbs in doM hereby oovesrarrt _rr!!tb the I?lorttases tba1.M Y ~~eisei d Mid Isod io tea MmpM. that bs hr poaror and lawdtil light to ooavelr Md 4od is fes sirop{s as aEaaaW. that It dratl be wlnl fog the Mort~~ea at all times ~eaoeab~r quktty to eater npo~ hold, and Mid laodt that Wd lapd b Eras fraso a!t loctrmbrarroa; that ba MU nab wdt fw~thae asw ~ea to potect v~E~rim~pls~ ~ MAW Wd in the Mortp~es as rearoosbty ba. rsgnired; thsR !ta dos be~eby fuUlr ~raraat Mid W?d ate the !artful daima d~ paesoor whomw+wr. PROVIDED, ALWAY8„ that !I the Mattgapor tdtali ptp? ooh the Lfatpp tin oartati, promissory Hots of which tbs fopo~rtioj to w~orda asd bgmaa r a !rw oopp. to-wdtr OOMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEACH RIVIERA BBACH. FLORIDA September 7, 19 79 Beim indebbd, for value received. the uader:igoed jointly sad severally promise b pay >A OO1~ItJNTIT FEDERAL SAV- [NGS AND LOAN ASSOCIATION OF RIVIERA BEACH at its office is the Ciq? of Riviera Beach. FiorWa, or order, the sum of " THIRTY SI% THOUSAND AND NO HUNDRHDTHS--..=--....--....- DoLLARS (i 36,000.00 ) ~lrer with interest ther+eoo as hereinafter stated in monthly instapmeab of Three Htmdred Fiftq One and lb/100----..----------_.~_._~.~~ ~_....~_.._..____---DOLLARS (f 351. fib The Elul installmw?t shall be due and pyalrle on the 10th dq of February 1980 and subsequent instapnrerrts shall be due and pyabk oa the 10th day of each and every calendar month thereafter until the priodpal and interest are fully paid. Until the first payeaent mentioned above, interest shall be due a~d p~yable month! . Larger sums may at time, but ~ payment of a~ such Leger snare m additieu to the b herein re- quiral shall not relieves the makers af~ paym~ the a>mrthly iastaMrents herein provided for, ualeas it payraea Lted by the makers at the time of payment that such Leger sums are to be applied to the advance payarent of bthe~montitWy) t~all- meats seer anaturi in the order of itKir due dates. A11 pymenb made upon this note shah be applkd fLst to the payareat of aaxrred tnterwt and secondly apse the Principal. ~ This obL~Ga~ion shall bear interest frarn dare at the rate of glevetl and one/quarter-~' cmrt ( 11.25 ) per annum until the principal and interest are fu0y paid. Interest for each calendar month shaD be accrued on the first day of said month and be computed oa the unpaid balance of principal and interest a:fisting ar the last day of the pn~cecliug nwnth. This note shall be considered in detauh when any ppaaY~~- meat required to be made hereunder shall not have been made by its due date and shall remain in default until said payment shall have been made. Wbib is default, this note shall bear interest at the rate aE._~,.,--fifteen------------ ~ 0C1t ( 15 'X) per annum io lien of the rate hmdnbefate spedBed. Ap makers and endorsers now or hereafter prow hereto jointly and severaDy waive demand, notice of nar- payareat sad protect. and agree that m the event of defau t in the payment of say irutallnreot due hereunder for a period of thirty (30) days the whole of said indebtedness shall thereupar at the option of the holder, become immediately due and pay able, and if this note beoomw in default and is plaaeed to the hands of an attorney for ooUectioa. to pay reasonable attorney's few and all other costs including costs and attorneys Ives of Appepate Court Proceedings for making such coDectioa 1 This note maybe prepaid io wlroie o< to pert at any tlme without penalty. . _ ti:RA ] .~/p ter A_ Aron - ~---(~Ll Peter A. Argo e~,?t; SjTheresa ~t~-~~.~~___-------- (sEA1.). ~~e use ~ red by a mortgage of even date esecuhd by the ~eers ~~avwHofrorfimnnity Federal Savings and Losn Arm. and shall Pad of t~ris ~ ~P~ and abide by each and every the~y boos, agreements, oonditioas, and cov~eaants of said prom- issory note a decd. then the estate hereby created shall cease and be nap and void. AND the Mortgagor dove hereby covenant and agree: 1. To py ap and singular the principal sad interest and other Sams of money payable by virtue of said promissory note and this mort- gage. or either. promptly on the days respectively. the same severally Dome due. - ' 2. To py sp and singular the laces, assessments, levied habilitie~ obligation and eacambrancea of every nature on said desrnbed prop- erty each and every when due and payable aornrding to law; befa+e they become delinquent, and if the snare shaD not be proanptly paid the 1?tortgagee may at any time either before or after delinquency pay the same without waiving or affeteing the option to foreclose, or any right hereunder, and every payment so made shall bear interest from the date thereof at the rate pmvWed in said promissory note. 3. To keep the bu and aq ~uip~ and personal rope now or hereafter on said premises, covered by this mortgage, inured in a sum at least equal to tFie unpaid 6ilanoe ~ this mortgage, pindndiyrrg fire, flood, e:teoded ooirera~e, vvandsL'mr, malkdorer mischkf, and any other coverage regeued by the mortgagee. u to properties other than d and fire, flood, attended inuurance, and any other coverage required by the mortagee, on dweWn ggss,, O°'~a~_ spedal-form other-perils gs ekgibb for such broadened covers provided, brtrever, that such insurance be in an amount sufficient to eompl~ with any oo-inuranc~e requirement aoverimq same under the lrws_ d the State d IrlorWa, and provided further that the policy or policies shag be written in : company or oonrpaniw std through an agency satisfactory to the Mort- gagee and that said polio or policies shall be heW by the Mortgagee and shall beu a sandard New York Matt lion, malinng the )ass under said pol3ciw p bk to the Mortgagee as its inten~st t~ without rnntribu- nd yes shall ha appear; and in the went say sum of m~ey becomes payable u er any such policy or roes, the Mortgagee ve the option to receive and apply the same oo account of the indebtednea hereby secured, or to permit the 1?tort~ago~ to receive and use it, or any prt thereof, for other purpwes, w~ithorrt thereby waiving m ia?pir- inR any equity, lien, or right under and by virtue of 4sis aartgage; and in the event the Mortgagor does not comply with this ~en~, the Mortgagee may place and pay for such insuance, or any part thereof, without waiving or affecting tIr option to oreclase, or any rto Irght ere- under. and the Lull amrnrnt of each and every such payment shall Ire immediately due and~~ayable, and :troll bear interest from the date thereof until paid at the default rate pmvicled in said note and together with such interest shall 6e se'I~rred ~y the lien of this mort~sge. Ir~au_ once covering the peril o[ flood damage shall tx as reriuired by the Federal Disaster Proteetloo Ad of 1973, or as amended, and ,mortgagor co~~enants and agrees to comply in all respects with the provision thereof. 4. That mortiagee may. at any time during the mortgage term, and in fib discretion, apply for renewal of avert~age guantnty insurance covering the mortgage executed by the undersigned on even date herewith, pay the premium doe reason ti~ereoF, and require repayment by the undersisrned of such amounts as are advanced by said mortgagee. In the event of failure by ~ andersigoed to rreeppaayp said aaraunts to said mortgagee. such failure shall be coosi~'crrd a default, and all provisi~s of the cote and mortgage with regard to defaak :hap 6e applio- able. S. To permit. commit or suffer no waste, impaimrent or deterioratbn of satd . or any part thereof. and upon the failure of the mortgagor to keep the Moldings oa said property in good corxlition of repair the 1I? ortga gray demand the immediate repir d said build_ imps, or an increase. in the amount of security, or the immediate r yymmant of t~re debt bete~secmed end the failure of the Mortgagor to conr- ply with said demand of the Mortgagee for a period of thirty (30itayr, shay constitute a breach of thb mortgage, and, at the optbn of the Mortgagee, immediately mature the entire amount of principal a interest !earthy secured, and 6nrrrediately and withom notice, the Aortgagee may iraatitute prooerdiags to foreclose this mortgage and apply for the appoiutmeot of s Receiver. M bereiaafta provided.