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Home My WebLink About1818 TO NAVE AND TO HOLD the uaoe, together with the tenement, btneditameab and apptutenanoes, ttoto the Mortgagee, in fee simpb, ` AKD the Mortgagor does hereby eovrrnant with the MortgaKee that he is indefeasible seized of uid land in fee sirnpb, that ho has toll power and lawful rifiht to cotlvey nit! land in fee simple as aforesaid; that it shall be lawful for the MortKaKee at ell Urrrrs prstrably ar.d quietly to enter upr,n, hold, ocrupY and enlay said land; drat uid Iatxl its free from tU ftxwubrarx:es; fleet he will make such furthet a.surarncs to prutec.•t the fee simpk title to said land in the Mori}~aQQce as rruYY reasorwbly be rettuired; that he does hereby fully warrant tl,r title to uid la,od and will defer?d the urns agauut the lawful claims of al! persons whourxrtwer. f ROVIDED, ALWAYS, flat if the Matgagoc shall pay unto the 1?tortgagees the oertafrt proa?issory Dote of which the following in words and figure Ib a true Dopy. bo-wR: i - - I C04i1l1UNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEACH Crux#~rt~e ~~n#E RIVIERA BEACH, FLORIDAOctober 10 , 1fI9 Being indebted, for aalue ret•eived, the undersigrrnl jointly and severally promise to pay to COM'?fUN1TY FEDERAL SAV- INGS AAtD LOA,~i ASSOCIATIO\ OF RIVIERA BEACU at its office fn We City of Riviera Beach, Fbritia, or order, the sum of FORTY THREE THOUSAND EIGHT HUNDRED AND NO HUNDREDTHS------ DoLLARS(543,800.00 ) toAclher with interest thereon as hereinafter stated in monthly wstaWnents of Four Hundred Thirty Five and 51/100---------------------_--------._-~---~_-_-- DOLLARS (S 435.51 The first installment shall he due and payable on the 10th day of March 1J 80 and subsequent inctallnrents shall I,e dire and payable on the 10th day of each and every calendar month thereafter until the principal and interest are tally paid. Until the first payment mentioned above, interest shall be due and pa~?able mo~tth~.~? Larger sums may be paid a anp tune, ut r ymcnt of any such 1ar¢er stems in addition to the payments heroin re- quired shall not relicae the makers of the pa}•ment of the nxrnt6ly irrstalhrrcnts herein pproaitltd For, unless it is spcrifirally stipu- lated by the nurkers at the flare of payment that such larger awns are to l,e• applied to tt?e advance payment of d?e monthly insta[l- ments next matunng in the order of their clue dates. All payrents »rade upon this note shall !re applied first to the payment of accrutd interest and secondly upon the princip:l. Ths obligation shall beer iutenst from date at the rctr u! Eleven and one/half---der cent ( 11.50 ~O ) pt•r annum until the principal anti i»trr••st err full." pair!. Interest for each calrrxlar month shall l,e acc•ruc•d on the first d:ty of said month a»d I,e computed on the unpaid ba4u,<r of principal and intercKt rxiaing on tln• last day »f the precrdiug nurnth. This note shall be considered in default svLc•n any pa}•- mcut refluirecf to Ixr made hereunder shall not 6,+.-!• been u,:ule by its due lisle aril shall reurain in default until said payment shall If t have been made, ~\'hile in default, this note shall bear interest at the rate of _____fifteen-------------per cent , ~ 15 'Xo) per annum in lieu of the rate hereinbefore specified. All makers and endorsers now or hereafter becoming parties hereto jointly and severally waive demand, notice of non- payment and protest, and agree that in the eaent of de(au t in the payment of any installment due hereunder for a pericxi of thirty f30) days the whale of said indebtedness shall thereupon at the option of the holder, become inunctliately due an<I pay- able, and if this note Ix•comes in default and is placed iu the hands of an attorney for eollec•tion, to pay rrasonablc attorney's fees and all other costs inc•tuding cysts and attorneys fees of Appellate Court Procertlings for making such rnllectinn. ~"his rote may Ire prepaid in whole or in part at any time ,vithmrt penalty. ~ 1 t - - - ___--(SEAL) .S/~b.QCL-.P_'1.__YOUng (SEAL) , - Robert M. Young ____-________(S~,) S/Araceli N. YYoung (SEAL) - A>~acel~. N. ZQ~~ "1 Lis rott• is secure•tl by a rnortaat;e of even date exexutcd by the n,a ere in ,nor of .o:nn+ rnih• Federal Saa•ings and Loan Assn. r of liiviera Aeach ) .,,,d shall promptly perform, rnmpl}• w•ith• and abide by each and every, the stippulatiioru, agreements, corxlitions, and covenants of said prom- ,«ory note and of this deed, then the estate hereby ereattd shall crane and be null and void. A\D the Mortiagor does hemby covenant and agree: 1. 7'o pay all anti singular flee pr"ncipal and interest and other sums of money payable by virtue of said promissory note and this mort- e::ge, or either, promptly on the days reslrectively, the carers severally come due. 2 To pay all arxi singular dre taxes, assexsnx~nts, leaies, liabilities, obligations and encumbrances of every nature on said descrilxd prop- •rt} each and every when rlue anti payable accordinG to law, before they become delinquent, and if the same shall not be promptly paid ~tortga~ce neap at any time either lx•fore or after dclinqucncy pay the same without waiving or affecting the option to foreclose, or ,ns right hereunder, and every payment sa made shall bear interest from the date thereof at the rate provided in said promissory note. 3. To kelp the buildin¢s and all equipment arxi personal pr rty now or hereafter on said premises, covcrtd by this mortgage, insured in a sum at least t•etual to tl,e ur:paid balance of ibis mortgage, including fire, flood, extended coverage, vandalism, malicious mischief, and ,',y trihrr coverage n•~ uir~-(1 by the ruorteagre, a~ tt, pr(rtx•rtics other than dwellings and fire, flood, extended coverage, s[rercial-form other-perils ••,urantt•, and any o~er coverage rertuired by the mortagee, on dwellings eligib~e for such broadened coverage - prrnidetl, however, that ,~,ch insurance (re in an arnarmt snfficier+t to rnnlply with any co-insurance requirements covering same under the laws of the State of Florida, ana providf•rf further tLat the pcdicy or policies stall Ire written ire a ~ompauy or companies and through an agency satisfactory to the ~tort- >•ac•e al:d that s:eid policy or p»6cit•s sh:dl fx held b>• the ~to,ty;acee seed shall tx•ar a standard A`eta• York Mortgagee Glarus without contribu- t,r,r," n,a:.ir,;; the loss nnt~er said pobc•ies payable to the ~lortcagt•e as its interest may appear; and in the event any sum of money I,ecvrnes pp ~ ,hlr under any such polity or pc,licics. file Mortgagee sh:+il have the option to rt•et•ive and apply the carne em account of the indebtedness t~•••,~b~~ stcurr•d, or to pt•rmit the \lortr~:egor to receive and use ii, or any, part thereof, For other purposes, without thereby waivi»~ or impair- ~ :u+>• ettn,ty, lien, or right under and by s•irtne of this u,o,t~a,r; and in the event the Jortgagor does not comply with this covenant, the \lurts;.+scc• rosy }rises :,nrl p~}" for such in>nrancr. nr any part tln•rc:o(, without aaivinQ or a/feeling the option to fmc•close, or any rii;ltt here- ,nr'r•r, and the full ,u,„ant of each am! r•~rr}• such pa}•ment shall }k immediately due and payable, and shall bear interest from the date tLt"rtof until paid al the default rate provided in grid »nte :,nrl iu~r•t!e•r with such interest shall Le srcuretl bs• the Iien of this mortC:,_r. Imm covenn_* the peril of f1«xl dau,:,ee s}cdl 1„• as rc~plin-c! l,.• the Fetlrral I)is:rster Nrotcction AM of 19;3, or as amended, arxl nu,rtgat;ur • ucrr,.u+ts a»J aKrt•c•s to comply in all respc•tts with the provisions thereof. 4. That »Mrt_aCCe may, at an}• time dnrint the n,nrt¢a;;c a•nn, and in ifs discretion, apph• fur renewal of morts;ace g„aran!. ,mur.+ncr , ,,.e•e,~ U,e n,o,tca_•• exr•cuh•d by tLe nndcrsicm•rl c,:+ seen date hereu"ith, pay the premium due by reason thereof, and rerlnire rcpayntcnt !n the un•?e:":iCac,l of .er1, an,u,:nt~ :,c an• a~l~ nu"e•d by swirl mr,rteaKer. In the event of failure by the underslgnerl to rr•jj,ay said anwunts to s;,,.l :nor`°as~rt•, such (adore shall Ix• c•en,sh'~reti a default, and all provisions of the note and mortgage with regard to default shall hr applir- ahle. S Tn p.•rrnit, commit or cuffs,. nu wa.t,•• impairment ur ditenorahon of said pml,crty, or any part thereof, and upon the failure n( the ,ur,rtCacur to kt•.•p 16e h,nhb:,zc un swirl p.u, .•rty in ,;rxxi comiitiun of repair, the \forty;auet may dernane! the immediate repair of said hmlri- +n~c, nr an incr••a~e in the an+n+urt n( .,•t urity, or th_• irnnu•-?late rf•p:+vrm•nt oI the +leht hemby secured and the failure of the A1ort?CaLur to c•om- piy scith s:nd drn,a»d of the ~lortsace•e• for a tr+•ntxl of thirty (3U) days, shall rnnstitutP a breach of this mort~C.•+Ke, and, et the-. option of the ~fort.ae••r•• iuu„r•cliateh mature the entire amor,nt of principal and interest hereby ct•eurtd, and irnmediatdy ar,d witholrt notice, the ~lortgacrr n,ay inshhde proctrd,ny~a to foreclose this nxrrtKaKe and apply for the appointment of a Receiver, as hereinafter provided. i nKc»tn