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HomeMy WebLinkAbout1614 - - _ • . . _ ..w._.~'~ s • 'r0 HAVS AND 'hO HOLD the same, tosether with tbs tssaat~t4 hsredMat~b tttsd s~pputtssnoaesi, ttstle rite hfortOSser fts fee atspla - AND tM Ul dose hereby oaveaaat with the Irtatp pest fie is iadeEeasl et>iasd of aid land ie fee t~impM, tbait 6a bar full power sad lawful right eo vanv~ey nid Wd in Eae dsupls d aEae~: that it aball be 7ev~fnl tar tbs bto~t~e et al) tLmes ~eab~r - and quietly to soratcera a~oa~ bold, and said ~aod: that aid lard is ties fraso all locwtbraooes; Wort be wilt rnaloe such furtbar ~ title~to~aid laed amend ~ d~etsod~ ~ aros~ Wth~s ltndidmsaaf~a pesiar~w6~~so~et?er'd"0~ tbet he don 6esebp fWb? versant PROVIDED. ALWAZ'S, tbsR iE tin 1iatByor- aba8 pq ttttAtl the Yartsases the oertaio psasaissoey Dots of vhkh the tollarvios !e ' wards attd hjYfM r • tttse OOQys 1o~wRt COMMUNI'T'Y FEDERAL 3AVING4 AND LOAN A~3SOCIATION OF RIVIERA BEACH ' ~IIX#~M~B ~D#8 RIVIERA BBACN. FLORIDA February 11, 19 80 Beans indebted. far vahte reodved, the rmdadgoed jatntly std severslbr promise i3o par to OObtMUNATY F®EIiAL SAV- WGS Ah'D IRAN ASSOCIATION OF RIVIERA BEACH at its office io the City of Riviera Beach, F1orWa, ar order, the sum of ' _ S?H'PY FOUR THODSAND AlID NO HD1ID DOLLARS (i 64,000.00) eogetlter with interest thereon as hereinafter :faced in monthly in~ts of Seven Hundred Ten and 04/10^ - --DOLLARS (i 710.04 The first i~allment sbaII be due and payable on the 10th day of March 19 80 and subsequera instaWneats :hall be dun and payable oa the 10th day of each and every calendar month thereafter until the priodpal and Interest are fully paid. Lartter mms may be paid at tune. but the t of nay such 4rger svata in addition to the payments herein re- goired shay not relieve the makers af~ pRyrr~ot of monthly installateats hernia pcavided for, unless it Is specifically stipu- lated by the makers at the time of payment flat such larger sums are to be applied to the advaooe payment of -the monthly install- ments nest mahumg in the order of their d~ dates. AD payments made upon this acre shall bt+ applied first to ibe payment of accrued interest and secondly upon the priocipaL This obL~atton droll bear interest from date at the rate of Thirteen ~ cent ( 13.00 `X' ) per annum untll the pri~ipal and interest are fully paid. Interest for each alendar aanth shall be accrued oa the first day of said month and be competed at the unpaid balance of Principal and interest edsting on the last day of the preceding maath. This note shaD be considered is de[ault when aaY ppaaY~~- went required to be made hereunder :ball not Gave been made by its due date and shall remain in default until acid payment shall have been made. While in default. this note shall bear interest at the rob of per Dent ( 15 96) per annum in lien of the rate hardnbefore spedited. Fifteen ~ All makers and endorsers now a< hereafter paella hereto jointly and severally waive demand, notice of non- payment and Proles;, and agree that in the event oft in the payment of an}? installment due hereunder for a period of thirty (30) day: the whole of said indebtedness d,aII thereupon at the option of the holder. bocane immediately due and pary- able, and if this note becomes in default and is placed in the bands of an attorney fot oollectioo, to pay reasonable attorney's fees and all other coats including coats and attorneys foes of Appellate Court Pmceedinp for making sndt s~llecdon. This note may be prepaid in whole a' in part at any time without penalty. S/Armin L. Wessel r~i~ S%Edwin B. Wavmaq___,_____- _ (S~) Armin L. Wessel ~ Edvin B. Waytaan I S/Renee A. Wessel rc~rtwra _S/Strsan_C. W__ a~nan_____ nee .Wessel ~ Susan C. W _ _ (SEAL) (This note is secured by a mortgage of even date executed by the makers in favor of Community Federal Savings sad Loan Assn. of Riviera Beach) . f ~ - - and shall pram~]y perform, comply with, and abide by each and every the stipnlatiant, agreeme~, eonditiars, and ooveaants of said prom- issory Dote and of thin deed, then the estate hereby created shall cease and bbee null and void. M'D the Mortgagor does hereby ooveoant and agrce: 1. To pay all and singular the principal and interest and other same of money payable by vIrhre of said promissory note and this wort- sage, or either, pmmpdy on the days respesxively, the same severally Dome doe. 2. To pay all and singular the tares, assessments, 1e~ liabilities, obligations and encrtmbraoca of every nature on said descaibed prop- erty each and every when due and payable according co taw, before they become delinquent, and if the same droll not be promptly paid the Mortgagee may at any time either before or after deliaqueocy pay the same without waiving or affecting the option to foreclose, or any right hereunder, and every payment so made shall boa: Interest Isom the date thereof at the rate provided is said promitsory? note. 3. To keep 'the buildinggss and all equipment and personal now ar beraker oo said preniisa, covered by this mortgage, insured in a sum at least equal to the unpaid balance of this mortgage, i~udwg' firg food, emended ooverase~~vardalism, malicious misehfef. sad any other coverage re~~ired by the mortgagee, as to properties other than d g~, sad fine; foal, es coverage, special-form other-perih insurance. and any other coverage required by the mortagee, on dvrdNngr e)igtble for such broadened coverage -provided( however, that such insurance be in an amount sufficient to comply with any oo-insurance regniremenb covering same under the Lws of the State of Fbrida, and provided further that the policy or policies shau be written in a company or companies and throagh an agency ati:factory to the I?tort- gagee and that said policy or policies shall be Geld by the Mortgagee and ahaD bear a standard New York I?fortgagee Qause without oontn~u- tion, making the lass under said policies payable to the Mortgagee as its interest msh? appear, and in the event any sam of becomes P,vabk raider neap such policy or policies, the I?iortgagee shall have the option to receive and apply the same oo asxamt of tebtedness f hereby secured, or to permit the 1?tortga~or to receive and use it, or any part thereof, for other purposes, without thereby waiving or impair- ~ ing any equity, lien, or right under and by virtue of this aartgage; and b the event the Mortgagor does Dot comply with this covenant~~ 1lortgagce may place and pay for such insurance. or any part thereof, without waiving or affectin the option to oredoae, or any right under, and the full amount of each and every such payment shall be immediately due and ,and :ball bear interest from the date I thereof srntil paid at the default rate provided in said rate and togetluK with such interest be secared~by the lieu of this mortgage. Insr~r- ance covering the peril of flood damage shall be as re~tuired t?y the l:ederal Disaster Protectloo Act of 1973. ar as amended, and mortgagor ~ covenants and agrees to comply in all respells with the provisIoos thereof. ~ 4. That mortgagee may. at any time during the mortgage trrrri, and in its discretion, apply for renewal of wort ge guarant}• insurance covering the mortgage executed by the undersigned on even date herewith, y the premium due by reason thereof, arnedparyegrvre repayment sbayd mortgagee. such failuieashallnbe consic' aired a defabult, and all pro~visioos~af ~ note land mo gorse wi~reg~to defaultashall bye apptie- abk. - S. To permit, commit or suffer ao waste, impairment or deterioration of said property or any part thereof, and npoo the failure of the nmrtgagor to keep the buildings oo said property in stood coiiclition of repair the 1?lortgagee may demand the immediate repair of said build- ings, or ao increase in the amount of security, or the immediate yment of the debt hereby secured and the faihue of the I?lortgagor to com- ply with said demand of the Mortgagee for a period of thirty (30~days, drat) constitute a breach of this avertgage, and, at the option of the lNortgagee, immediately mature the entire amount of prindpa) anndd interest hereby secured, and immediately and without notice, the Mortgagee may institute proceedings to foredoae this mortgage sad apply for the appointroeat of a Receiver, as berdoafter provided.