HomeMy WebLinkAbout2123 TO HAVE AND 7'O IIOLD the sane, together with the tenements, hereditameats and appurtenances, unto the Mortgagee. in fee simple.
AND the Mortgagor does hereby covenant with the Murtga~ea that he b fnclefeasibly seized of said lead in fee simple, that 6e has
fuU power and lal~•i?d right to convoy said land in fee simple as aforesaid; that it shall be lawful for the Murtgabce at aU tuues pr.aceably
and quietly to enter upon hold, ocrupp and en'oy said land; that said lead is free from all incumbraxrs• that be will make such further
wurances to protect the ~ee si?nple title to sait~ land in tl?e Mortgagce as may reasonably be required; that he door hereby fully warrant
the title to said land and will defend the same sSaiwtit the lawful clair?LS of all persowt whooxsoever.
PROVIDED. ALWAYS. that if the Mortgagor shall pay tmt~ the Mortgagee the certain promissory note of which the foDosving in
words and figures b a true copy, to-svit:
i COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEACH
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DX#~~I~P ~~L1#P
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RIVIERA BEACH, FLORIDA September 28, 19 79
Being indebted. for value received. the undersigned jointly and severally promLsa to pay to COMMUNITY FEDERAL SAV-
~ WGS AND LOAN ASSOCIATION OF RIVIERA BEACH at its office is the City of Riviera Beach. Florida, or order, the sum of
FIFT EN THOUSAND SIX H~D~~ AND p0 1tFDT~$ DOLLARS (i 15,600.00 )
together with interest thereon as hereinafter stated in monthly msta~ments of
Three Hundre~~~ ~te and )
1 1 0---------------------------------------------------------- 341.131
The first installment shall be due and payable on the 10th day of November 9 79
and subsequent iastalhnenta shall be due and payable on the 10th day of each and every calendar month thereafter
until the principal and interest are fully paid.
Snal{~ Sums may De paid at all~+ tll?i@, hilt tl'ic ~,,~~uicut ut iau'j auC:u ass lea suuaa au nuauuvu au we tsa~u,c.,u u....:v'. ;L'-
quired not relieve the makers of the payment of the monthly installments herein provided for, udess it is specifically stipu-
fated by the makers at the time of payment that such larger sums are to be applied to the advance payment of the monthly install-
ments next maturing in the order of their due dates. All payments made upon this note shall be applied first to the payment of
accrued interest and secondly upon the principal.
This obligation shaII bear interest from date at the rate of Eleven and one/quarter-fir ~'t (11.25 `A )
per annum until the principal and interest are fully paid.
Interest for each calendar month shall be accrued on the first day of said month and be rnmputed on the unpaid balance
of principal and interest existing on the last day of the preceding month. This note shall be considered in default when any pay-
ment required to be made hereunder shall not have been made by its due date and shall remain in default until said payment shaD
have been made. While in default, this note shall bear interest at the rate of per cent
( 15 '16) per annum in h'eu of the rate hereinbefore specified. --------fifteen------------
All makers and endorsers near or hereafter parties hereto jointly and severally waive demand, notice of non-
payment and protest, and agree that in the event of defa tin the payment of any installment due hereunder for a period of
thirty (30) days the whole of said indebtedness 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 ooDectioq to pay reasonable attorney's fees
and all other costs including costs and attorneys fees of Appellate Court Procecdingi for making such collection.
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This note may be prepaid in whole or in part at any time without penalty.
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----------------(SEAL) S/I)ouglas._ R.___$wanson____._ _ (SEAL)
~
Douglas R. Swanson
I
_ (Sgt,) S/Julie M. Swanson (SEAL)
J~,lie j~. Sw son
~ (This note it secured by a mortgage of even date executed by thc• makers in fa~-or o~~m?nunity Fecie:al Sas~ngs and Loan Assn.
~ ~ of lti~ ie•ra Beach )
4 -
€ and shall promptly perform, comply with, and abide by each and every the stipulations, agreements, co«iitions, and covenants of said prom-
issory note and of this deed, then the estate hereby created shall cease and 6e null and void.
A,\D the Mortgagor does hereby covenant and agree:
1. To pay all and singular the principal and interest and other sum of money payable by virtue of said promissory note and this mort-
gage, or either, promptly on the days respectively. the same severally come due.
~ 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and encumbrances of every nature on said described prop-
~ erty each and e;•ery when due and payable according to law, before they become delinquent, and if the same shall not be promptly 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 so made shall bear interest from the date thereof at the rate provided in said promissory note.
3. To keep the buildings and aD equipment and personal property now or hen~fter ar, said premises, ooven~ by this mortgage, insured
in a sum at least equal to the unpaid balance of this mortgage, In uding fire flood, extended coverage vandalism, malicious mischief, and
any other coverage required by the mortgagee, as to properties other than dwel~ings and Eire, flood, ezten~ed coverage, special-form other-perils
? insurance, and any other coverage required by the mortagee, on dwellings eligib;'je for such broadened coverage -provided, however, that
y such inuurance be in an amount sufficient to compl with any co-insurance requirements covering same under the laws of the State of Florida,
and provided further that the policy or policies shall be written in a company or companies and through an agency satisfactory to the Mort-
s;agee and that said policy or policies shall l,r. held by the Mortgagee and shall bear a standard New York Mortgagce Clause without contribu-
tion, makegg the loss under said policies payable to the Mortgagee as its interest may appear; and in the event any sum of money bernmes
~ payable ur?der any such policy or policies, the mortgagee shall have the option to receive and apply the same on account of the indebtedness
hereby secured, or to pero»t the !Mortgagor to receive and use it, or any part thereof, for other purposes, vr~thout thereby waiving or impair-
ing any equity, lien, or right under and y virtue of this mortgage; and in the event the Mortgagor does not comply with this covenant, the
~ \fortgagce may glace and pay for such insurance, or any part thereof, without waiving or affecting the option to foreclose, 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 shag be secured by the lien of this mortgage. Insur-
ante covering the peril of flood damage shaD 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.
a 4. That mortgagee may, at any time during the mortgage term, and in its discretion, apply for renewal of mortgage guaranty insurance
covering the mortgage executed by il?e 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 failure by the undersigned to repay said amounts to
said mortgagee, such failure shall be considered a default, and all pmvisioru of the note and mortgage with regard to default shaII be applic-
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 good condition of repair, the Mortgagee may demand the immediate repair of said build-
s in1Ls, or an increase in the amount of security, or the immediate re yment of the debt hereby secured and the failure of the Mortgagor to com-
ply with said demand of the I?tortf;agee for a period of thirty (30~days, shall constitute a breach of thu mortgage, and, at the option of the
'~torty{agee, immediately mature the entire amount of principal and interest hereby secured, and immediately and without notice, the Mortgagee
may institute proceecf~ngs to foreclose this mortgage and apply for the appointment of a Receiver, as hereinafter provided.
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