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HomeMy WebLinkAbout1341 ~ . . _ _ _ s • ' 'I~ HAVS AND TO HOLD t>te bpthar wlfb the tape4aalt, lta~edNaaaead ttatd a(~paelaueaoeit, vaeo the l~laetp~ is fes alaspla. _ AND tbs f1t dos •Iraeby covenant with the M that hs i. 6sdefeedb!!? oeiaed at said hod !o fa ~r that hs her ENI power and hwf~~right to ooswey said hod fa fes t~impls as afaaaaid: that it shall be tawEd for tLe Mortgages at all lima peaoesbar and quieta? to enter hold, oxup~? and said had; that said hrd is free from all iecctrmbranoaa; that Ls wW awake such furtbar ~ ~ to prat atm~pb~tM~ a~s~ LM~a~6oapaf~ pasow~wr6beomao~erert'~; that hs dos Lereby fula? warred PROVIDED. ALWAY8. that N the Maetea,ot tthttfl pq amb the liiortgapes dss oertah promtaory Hots d which the foUawins io srotdt asst fijuras fa a trw cep7h t~irltr COMMUNITY FEDERAL SAVING4 AND LOAN ASSOCIATION OF RIVIERA BEACH ~IIx~~MI$8 ~D~B AIVIBRA BEACH. FLORIDA 1~ Z ~ 1980 Being fidebted, for value received, the undersigned jointly and severally promise to pay to OOMI?fUNITY FIDERAL SAV• QVGS AND LOAN ASSOCIATION OF RMERA BEACH at its office in the City of Rlvlera Beach, Fbrida, or ceder. the sum of FIF1R THOUSAND AND NO HUNDRBDTHS---- DOLLARS(i50,000.00 ) together with Interest thereon as herdrrafter stated in monthly instaDnreat: of Five Huadre~~~t~ Four and ) 20/100----~ The flrat ios<alhnent ahaD be due and payable oa the day of 574.?1(~ pp and subsequent iastalhrrents shaD be due and payable at thelOthlOth dayJ~bach and every calendar month ther~Tter until the principal and interest are fully paid- ~til the first payment mentioned above interest shalll be due and payable month Lrtcer stmus may be paid at time, but ~ ppaayment of an)? such larger sums in additiao to the payments herein re- gnued shag not relieve the makers af~ payment of the nrarthly installments herein provided for, unless it is specifically atipu• bled by the makers at the tune of psY~t that such later sums ate to be applied to the advance payment of the monthly install- ments neat ma~~riag io the order of their due dates. All payments made upon dtis note shall be applied first to the payment d secured interest and secondly upon the principal. This obligation shall bear interest from date at tbe rate of Thirteen and one/half--1?m rent ( 13.50 96 ) per amum until the principal std interest are fully paid. Interest for each calendar month shall be accrued on the first day of said month and be computed on the unpaid balance i of principal and interest existing on the last day of the preceding month. This note shall be considered in default when any paY_- meat requited to be made hereunder shall not have been made by its due date and shall remain in defauh until said payment shall have been made. While in default. this note shall bear interest at the rate of per cent i ( 15 x') l~ annum ih ben of the rate hereinbeforo specified. --"•-Fifteen---- All makers and erdorsera now or hereafter parties hereto jointly std severally waive demand, notice of non- payment and protest, and agree that in the e~Ynt of defer t in the payment of any installment due hereunder for a period of thirty (30) days the whole of said indebtedness shall theretrpoo at the optlaa of the holder, become immediately due and pay- able, and if this note becomes in default and is placed in the bands of an attorney for collection, to pay reasonable attorney's fees and all other coats including coats and attorneys fees of Appellate Cant Proceedings for making such collection. ~ 'this rate may be prepaid in wbde or in part at any time without penalty. ~ , lSRAi 1 S/Max M. Chizik _T_ _ (S~,) Max M. Chizik • ~'II ~ tcrta~ S/Lucette J. Chizik _ _ _ _ (SEAL) ~ Lucette J. ~ttizik (This note b secured by a mortgage of even date ezecuted by the makers in favor Community Federal Savings and Loan Assn. of Riviera Beach ) and shall pranptlx perform, comply with, and abide by each and every the stiprdatiom, agceemenb, oarditious, and covenants of said prom- issory cote and of this deed, then the estate hereby created shall cease and bbee null and void. M'D the Mortgagor does hereby covenant and agree: 1. To pay all and singu4r the principal std interest std other wms of money payable by virtue of said promissory note std this wort- eage, or either, promptly oa the days respectively, the same severally come due. 2. To pay all and singular the to:es, assessments, ~e~, Labilities, obligatioffi and eacumbranoes of every nature oa said described Prop- erty each and every when due and payable according to taw, 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. std every payment so made shall bear interest from the date thereat at the rate provided is said promissory note. 3. To keep the buildings and all equipment and perwnal p rtav ar hereafter on said promises, covered by this mortgage, insured in a sum at least equal to the unpaid balance of this mortgage, including fire, flood, a:tended aoveragee~vaiodah'sm, malicious mischief, and c any other coverage rec aired by the mortgagee, as to properties other than dwellinggss,, and fire, flood, a:t coverage, special-form ot}rer-perils ~ insurarrcr, and any ot~ coverage rerprircd by the mortagee, oo dwellings e$gible for such broadened coverage provided however, that ~ such ituurarue be in an anaunt sufficient to comply with say eo-irrsuranoe requiremeob covering same under the laws of the State of Florida, and pro~tided furt}rer that the policy or policies shall be written in a company or companies and through an agency satisfaMory to the 1ltort- t;agee and that said policy or policies shall be Geld by the Mortgagee and shall bear a standard New York Mortgagee Clause without contrihu- tion, makingg the lass under said policies payable to the Mortgagee as its interest may appear; and in the event any sum of becomes prs able larder any such policy or policies, the Mortgagee shah have the option to receive and apply the same ao account of theebtedness h~rehy secured, or to permit the \lortgagor to receive std use it, or say part thereof, fa other purposes, without thereby waiving or impair- , int; any equity, lien, or ri~ht order suet by virtue of this mortgage; and in the event the Mortgagor does not comply with this covenant the ; Mortgagee may place anc pay for such insurance, or any part thereof, without waiving or affectingg the option to oreclase, or any right {rere- under, and the full amount of each suet every such payment shall be immediately due and~payable, and shaD bear interest from the date thereof until paid at fire default rate provicic~d in said rate and toi;ethcr with such interest shall be serttred by the lien of this mortgage. Insur- ance covering the peril of flood damage shall be as rertuirecl by the Federal Disaster Protection Ad of 1973, or as amended, suet uartgagor cove•rrants and agrecx to comply in all respects with the provisions thereof. f . t 4. That mortgagee may, at any time during the mortgage term, and in its discretion, apply for renewal of wort~age guaranty insurance ~•os-ering the rrrortr:age executed by the urdersigrred on even date herewith, pay the premium due by reason tlrereoF, and require repayment - hy t}~e undersigned of such amounts as are advarrcecl by saici mortgagee. In the event of failure by the undersigned to repay said amounts to - said mortgagee, such failure shall be consi~red a default, and all provisions of the note and mortgage with regard to default shall be applic- able. 5. To permit, commit or suffer fro waste, impairment or deterioration of said pproperty, or any part thereof, and upon the failure of the mortgagor to keep the buildings on said property in scrod condition of repair the I?fortga ee may demand the immediate repair of said build- iu¢s, or an irrcrrase in the amount of security, or the imme~liste r ymrut of lire debt here~iy secured and the tai}are of the iliortgagor to corn' ply with said demand of the Mortgagee for a penal of thirty (30 days, shay constitute • breach of this mortgage, and, at the option of the :Mortgagee. immediately mature the entire amamt of principal at~interest hereby secured, std immediately and witbart notice, the Mortgagee may institute proceedings to foreclose fhb mortgage and apply for the appointment of a Receiver, a 6eretoafter pmvWed. ait~:~25 i?i~1:~.~ I:..