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'I'O HAVE AND TO HOLD the rams, together with the tenement, heredltamenb attd apptuteoanoes. canto the Morrtgagee, m fee simpb.
AND the Mortgagor does 6ercby covenant with the Mortgagee that be b indefeasiblZr seined of florid land is fee simple. tbat bs 6u
full power and lawful right to convey said land in foe simpb as aforesaid; that it shall be wtul for the Mortgagee at all limos p~ceably
arrcl ctuietly to enter upp,a, hoW, occupyy and enpy said land: that said tared is free from all iocuntbranxs; that he will make such furtber
a.~urar?ces to protect tl,e fee simpb title to said land in the Mortgagee as ma ressouably be reyuirod; that he door hereby fully wamnt
the title to said land and will defend the same against the lawful claIait of all persons whomsoever.
PROVIDED, I~LWAYS, that if the Mortgagor shall pry ttato the Mortgagee the oertaia promiswry note of which the following io
words and figures L a taus Dopy. to-wile
C0~iMUN1TY FEDERAL SAVIIVGS AND LOAN ASSOCIATION OF RIVIERA BEACH
C'~IIX~~M~B ~D~E
RIVIEM BEACH. FLORIDA November 19, 19 79 i
Being indebted, for value received, the undersigned jointly and severally promise to pay to C0It1MUMTY FEDEML SAV-
INGS AND LOA,~i ASSOCIATION OF R1V1EM BEACH at its office Io the City of Riviera Beach, Fbrida, or order. the sum of
FORTY FIVE THOUSAND AND NO HUNDREDTHS-- DOLLARS(i 45,000.00 ) i
together with interest thereon as hereinafter stated in monthly installments of Five Htmdred~~~i~ aDd ) f
l 3 !
00/ 100--------------------- 508.0
The first installment shall be due and pa~•able on the 10th day °f A r 1 49 8(~
and subsequent installments shall be due suet payabir on the 10th day o~ each and every calendar month thereafter _
until the principal and interest are fully paid. ii1 the first payment mentioned above, interest
shall be due and gayable mon~~iIy.
Larger sums may be psi at an • time, but the payment of any such larger sums in addition to the payments herein re-
quired shill not relieve the makers of ~e payment of the monthly installments herein provided for, unless it is specifically stipu- ;
laced by the makers at the time of payment that such larger sums are to be applied to the advance payment of the monthly install- ;
menu neat rnatunng in the order of their due elates. All payments made upon this note sl?all 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 Thirteen and one/quarter cent ( 13.25 `r°)
per annum rmtil the principal and interest are fully paid.
4
lnterest for rich ealerxlar month shall t,e aecruecl on thc• first day of said month suet be computed ou the unpaid 1><11ance
of principal and interest existing nn flee last day of the prececliu~~ month. This note shall be considered in defar,,~t when any pay-
u,rnt required to be made hereunder shall not have been made by its due elate and shall remain in default until said payment shall
have been made. R'hile in default, this note shall bear interest at the rate of per cent
( 15 per annum in lieu of the rate hereinbefore specified. ------fifteen---
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 event of default in the payment of any installment due hereunder for a period of
thirty (30) days the whole of said indebtedness shall thereupon ;rt the option of the holder, become immediately due an<I pay-
ablr, and if this note becomes in default and is placed in the hands of an attomcy for collection, to pay reasonable attorney's fees
:urcl all other costs including costs and attorneys fees of Appellate Court Proceedings for making such collection.
i
"phis mote may be prepaid in whole or in part at any time without penalty. :
I F
PECK CONSTRUCTION CO.
S/Alden F. Peck, Jr. 1~Bg~~gck _(SF,AL) BX:.___8~~rlen F•__~ec~, Sr.._,President (sEAL)
Alden F. Peck, Jr. /Jane Peck Alden F. Peck, Sr. ,President
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S/Ann Peck /Kevin 0. Peck___ _(S~,) S/Alden F. _ Peck, Sr. , Individually (SEAL)
f n Peck Kevin 0. Pefck Alsgn F.Peck, Sr I~c~ividua~~
~ ,phis note is secured by a mortgage o even date ezecuted by the makers in avor of Community 1~'~de avings y n Assn.
of Riviera Beach )
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~++d shall promptly perform, comply with, and abide by each suet every the stippulations, agreements, corxlitionc, acrd covenants of said prom-
i..ory note and of this deed, then the estate hereby created shall cease and be null and void.
A\D the Aortgagor does hereby covenant and agree:
r 1. To pay all and singular flee principal aril interest suet other sums ~ money payable by virtue of said promissory note and this mort-
:as;e, or either, promptly on the days respectively, the same severally come due.
2. To pay all and singular d,e fazes, assessments, levies, liabilities, obligations and encumbrances of every nature on said described prop-
~rt. each and every when clue and payable according to law, before they become delinquent, and if the same shall not be promptly paid
tiu• Mortgagee rosy at any time either Ix•fore or after delinquency pay the same without waiving or affecting the option to foreclose, or
i:ry right hereunder, and every payment so made shall beaz interest from 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 oo said premises, covered by this mortgage, insured
in a sum at (cast ertual to the unpaid balance of this mortgage, including fire, (loocl, erter,ded coverage, vandalism, malicious mischief, suet
+ny other covcrrf{e rrc)uircd by the mort,agc•e, as to properties other than dwellings and fire, fbod, extended crnerage, special-form ocher-perils
t .::,urance, and any other coverage rrrtuired by the mortagee, on dwellings eligib~e for such broadened coverage - prosided, however, that
.+uh insurance lx• in an amount sufficient to comply with any co-insurance requirements covering same under the laws of the State of Florida,
provided further that the policy or policies shah be written in a company or companies and through an agency satisfactory to the A1ort-
:+•_c•r suet that said policy or policies shall I,e held by the Aortgagee and shall bear a standard New York !1ortgagee Clause without contrihu-
r+,n, n,akiu; the loss unc(cr said policies payable to the ;Mortgagee as its interest may appear; and in the event any sum of n,ouey becomes
;>.~ble under am• such policy or policies, the Mortgagee shall have the option to receive and apply the same on account of the indebtedness
f:. n•hy secured, or to permit the \lortg:r,or to receive and ear it, ur any part thereof, for other purposes, without thereby waiving or iurpair-
s n._ any equity, lien, or right under and by virtue of this mort:*asr; and in the event the Mortgagor does not comply with this covenant, the
t \l+~rtg;.gee u,ay ,lace and pay for such insurance, or any part thereof, without waiving or affecting the option to o:edoce, or any richt here-
nn.!er, amt the• ~ull anu,nnt of each and every such payment sh:dl be immediately due and payable, and shall bear interest from the date
tl,~•rer,f until paid at the default rate provid~•d in s:,id note and toe..^tbe•r with such interest shall be soured by the lien of this mortgage. Inan-
~:,rc Coverings the pcrril of flood damage shall he as mquire•.l by the hedc•ral Disaster Protection Act of 1973, or as amended, and mortgagor
•+~c•nants aril agrees to comply in all respcrts with the provisions thereof.
4. That mort_as'cr may, at any time darin;• the n:nrtga~e tern,. and in its discretion, apply for renewal of mortgage ¢uarant}• insnr.u~ce•
r~crinL the rnnrtt'acr• ezec•atcd by the nndersienrd on even date hcresvith, pay the premium due by reason thereof, and require repayment
th•• uudc•r~i{,nrd of snc•h anr~unts as are ads•:m+. c•d by said mortca¢ee. In the event of failure by the undersigned to rF~av sail amounts to
! moris;a.tiee, such failure shall Ix consir'~ted a default, and all provisions of the note and mortgage with regard to default shall Ire applic-
a! plc.
5 Tn permit, commit or vrffer no waste, impairment or deteriorntion of said property, or any part thereof, and upon the failure of the
-~aaeur to keep the bnddin~s on s:ri:l property in good rnn<lition of repair, U,e Mortgagee may demand the immediate repair of said build-
•:+s,. or an inc•rea.~e in the amount of security, or the irmnerliate re• }}•mrnt of the del?t hereby secured and tl,e failure of the Mortgagor to rnm- ?
ply with said demand of the ~Tortcagee for a penal of thirty (3n~dayc, stall rnnstitute a breach of this mortgage, and, at the option of the
Mortgagee. irnn,c•rliately mature the entire amount of principal and interest hereby secrrrrd, acrd immediately and without notice, the ~lortgaKec
y nlay institute proceedings to foreclose this mortgage aril apply for the appointment of a Receiver. as herein9(aftfe]r provided/.')e
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