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HomeMy WebLinkAbout0059 TO HAVE AND TO HOLD the same, together with the teaemeab. hereditamenb and appnrtenanoes, unto the Mortgagee, In fee simpb. AND the Mortgagor does hereby covewnt with the Mortgagee that he is 4rdefeasibly seized of said Isnd is fee simple. that he bas full power and lawful right to convey said land in fee simple as aforesaid, that it sl+all be 'awful Ior the Mortgagee at all times peaceably and quietly to enter upon, hold, occupy and enpy said huxl; that said land is free from all incumbrartces; that he will make such further assurances to protect the fee simple title to said land in the Mortgagee as ma reasonably be required; that 6e does hereby fully warrant the title to said land and will defend the same agairat the lawful clairr>s of all persona whosoever. PROVIDED, AL\VAYS, that !f the Mortgagor shall pay onto the Mortgagee the oertatn pmmLssory note of which the following to words and figures V a true Dopy. to-wit: COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEACH r i RIVIERA BEACH, FLORIDA November 26 19 79 Being indebted, for value received, the undersigned jointly and severally promise to pay to COMI?fUNITY FEDERAL SAV- < ! INCS AND LOAN ASSOCIATION OF RIVIERA BEACH at its office in the City of Riviera Beach, Florida, or order, the swn of • .FORTY EIGHT THOUSAND SEVEN HUNDRED AND NO/100ths------------- ~L~~ (5 48,700.00 ) ~ together with interest thereon as hereinafter statcl in monthly installments of FIVE HUNDRED TWELVE AND 9~/100ths------------------------------------ DOLLARS (s 512.93 The first installment shall be due and payable on the 10th daY of January 19 80 and subsequent installments shall be due and payable on the 10th day of each and every calendar nwnth thereafter until the principal and interest are fully paid. La er sums may be paid at any time, but the payment of any such larger sums in addition to the payments herein re- quired shat! not relieve the makers of the payment of the n+onthly installments herein pprovided for, unless it is specifically stipu- lated by the makers at the time of payment that sttrh larger sums are to !re applied to the advance payment of d+e montlrh• install- ments next matunng in the order of their due elates. All payments made upon this note shall be applied first to the payment of aceruccl interest and secondly upon the principal. This obligation shall bear inten•st from date at the rate of twelve----------fir cent ( 12.00 ~'O ) per amurm until the principal and intemst are hdh• paid. - . Interest for each calendar month shall he aceneed on the first clay of said month and },e rnmputed on the unpaid balance of principa and interest existinG on the last clay of the pn•cc•diug uwnth. This note shall Ix considered in default when any pap- urent required to be made hereunder shall not have lrcen made by its due date and shall remain iu default until said payment shall have hero made. \Vhile in default, this note shall bear interest at the rate of fifteen------------- Per cent ( 1 S . 00 cb) 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 event of default in the payment of any inctallrnent 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 p.•+y- ahlr, and if this note {recomes in default and is placed in the hands of an attorney for rnllcction, to pay reasonable attorney's Tres :urd all other costs including cents and attorneys fees of Appellate Court Proceedings for making such collection. •I"his note may be prepaid in whole or in part at any time without penalty. -----------------___-(SEAL) s./_iriilliam---H,.--lroasdale (SEAL) William H. Croasdale ___-___-_______(SEAL) slHelen_ gR, Croasdale _ (SEAL) 177ris not+• is secured by a mortgage of even date executed by th+• H•+P1.1~tinTa\orC~1~.c?'ci'r oiftfutp Federal Savings and Loan Assn. of Riviera Reach ) i and shall promptly perform, comply with, and abide by each and every the stippulatioru, agreements, conditions, and rnvenants of said prom- is.ory note and of this decd, then the estate hereby created shall erase and be null and void. A\D the Mortgagor does hereby covenant and agree: 1. To pay all and singular the principal send interest aril other svtns of money payable by virtue of said promissory note and this mort- eage, or either, promptly on the days respectively, the same severally come due. 2. To pay all and singular the tacos, assessments, levies, liabilities, obligatioru and encumbrances of every nature on said described prop- ,rty each and every when due and payable according to law, }refore they become delinquent, and if the same shall not be promptly paid :he• ~lortgag••e may at any time either ',,,fore or after delinquency pay, the same without waiving or affecting the option to foreclose, or +ny r:;;ht hereunder, and every payment so made shall hear interest from the date thereof at the rate provided in said promissory note.. 3. 7-o keep the buildings and all equipment seed personal prope rty now or hereafter on said premises, covered by this mortgage, insured in a swn at least equal to re unpaid balance of this mortgage, including fire, flood, a=tended coverage vandalism, malicious mischief, and ~ any other coverage rer'rtirrd by the morttaK+•r. as to properties other than dwellings and fire, flood, a:tended coverage, special-form other-perils orsmrann•• seed any other coverage re+tuind by the n+ortagee, on dwellings eligib~e (or such broadened coverage -provided, however, that such insnranc•c• he in an amount sufficient to comply with any co-incurarrce requirements covering same under the laws of the State of Florida, and pro~id+•d fmrtlrer that the policy or policies shall be written in a company or companies and through an agency satisfactory to the \lort- ~ ca,ce and that said police or policies shall Ire betel by the ltlurtga;;ee and shall bear a standard New York Mortgagee Clause without contri~u- timn, makin•• the logs under paid policies payable to the blortgagce as its interest may appear; and in the event any sum of money Incomes pp c.,hle unrlrr am• such policy or policies, the \fortgager shall base the option to reeeiwe and apply the same on account of the indebtedness ~ ?r rchy se•cur••d, or to pt•uuit the \lorteagor to receive and use it, or any part thereof, for other purposes, .without thereby waiving; or impair- ir.d any cgnay, lien, or right under and b}~ virtue of this mortay:r; and in the event the \fortgagmr does not comply with this rnccnant, the \1nrt+z;rgee rrw rla~•c ar,d pay for snch msuran,r, ur any part thereof, w•ithmut waiving or affecting the option to foredcrce, or an}• ris:ht here- nn+ler, an+) the lull a+„c,uut of cac•h eras ever}, snob payment shall be imrncdiatdy dne and payable, and shall bear interest from the dat^ p !hen•ol outi{ paid at the dcfanlt rntc provid+•d in said noti• and to~_cthcr with such intcn•st shall },e second by the lien of this morMaCr•. Incu+- arrcr coverin^_ the peril of flood dam:.ue shall }re as m•prire+l by the i•'ederal Disader Protection Act of 1973, or as amended, and nrortga~!ur cnvcnar+ts aril agrees to comply in all respects kith the provisions thereof. 4. That rnort~a+!ci• may, at any lion, dnrint! flee rrwrti`aL'e h•rn+, anr} in its discrctimn, apply for renewal of mortl'_age gnarantp in.ur;+u+c . ,n-wing the mort•_ac+• ezr•cutcd {ry the undersir;nnl nn even date herewith, ~ay the premium dne• by reason t}rercof, and reciuire repayment h} the nndcrc+Hnc,l of ~nrh amcnmr, as arr• adcanc-cd by sai~.1 mnritagrr. In t re event of faihrre by the undersigned tore ay said amounts In ;:u•l roort~•a~cr, such failure shall },c c•crosi+7~red a default, and all provisions of the Dote acrd mortgage with regard to default shall be applio- able. 5. To permit, commit mr wffc•r no waste, impairment or deterioration of said roperty, or any part thereof, and upon the failure of the r+++,rt2a+_nr to krc•p flee bnildin•~s on .:?r~l property in r;crod rnudition of repair, the Mortgagee may dcrnand the immediate repair of said build- rn~s, or an inc•n•ate in the an++uurt of s'•curity, mr the immediate repavrncnt of the debt hereby secured and the failure of the Mortgagor to rnm- E ply with said dernarul of the \fortgage+• for a pr•ri«1 of thirty (3(y) days, shall rnnstitute a hr••ach mf this mortgage, and, at the option of the ~turt¢acr• inun.•diateh• mature the entire amwrnt of principal and interest hereby secured, end immediately and without notice, the \fortgas;ce nr:+y inttihrte proceedings to foreclose this mortgage and apply for the appointment of a Receiver, as hereinafter provided.