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HomeMy WebLinkAbout0938 TO HAVE AND TO HOLD ehs same, together with the teoemenb, 6ereditaments and appnrteoanoes. mto the Mortgage0. in fee dmpb. AND the Mortgagor does hereby covenant with the Mortgagee that he b iadefeasi~y seined cf aid land in fee simple, that 6e bores full power and 4wful right to ceavey said lead in foe sirnpb as aforesaid; that it shall be lawful for the Afortgagee at all tiu~es peaceably and quiMly to enter upon. hold, occup}}r~ and en' said land; that said land is free from tU incumbnr?oes: that 6e will make such further assurancra to protect the fee simple titb to aid la»d in the Mortgagee as mad! reasorwbly be required; that be does hereby fully warrant tho title to satd land and aiU deEead tho same against the lawful clsirm of a!! person whourwever. PROVIDED. ALWAYS. that !f the Mortgagor shall pay nnta the Mortgagee the certain promissory note of which the fallowing io wads and figures b a true copy. to-wW COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEACH i c'~IIX~~M~P ~D~P RIVIERA BEACH. FLORIDA February ~8 19 gp ~ Being indebted, for value received, the undersigned jointly and severally promise to pay to COMMUIti'ITY FEDERAL SAV- i t\CS AND LOAN ASSOCIATION OF RIVIERA BEACH at its office in the City of Riviera Beach, Fbrida, or order, the sum of sEVENTY Two THOUSAND AND No xvrmREDTRS -----DOLLARS (a 72,000.00 ) together with interest thereon as hereinafter stated in monthly installments of SEVEN HUNDRED NINETY EIGRT AND 80/100ths DOLLARS (a 798.80 The first installment shall be due and payaf,le oa the 10 th day of March 19 80 and subsequent instalhnents shall be due and payable on the 10th day of each and every calendar month thereafter until the principal and interest are fully paid. Larger sums may be paid at an time, but the payment ~ any such larger sums in addition to the payments herein re- quired shall trot relieve the makers of the payment of the nlont111y instaUrnents herein provided -for, unless it is specifically stipu- laced by the makers at the tune of Qayment that such lore er sums are to be applied to fire advance payment of the monthly install- ments next matunng m the order of their due dates. A11~ payments made upon this note shall be applied first to the pa}•ruent erf accrued interest -and secondly upon the principal. This obligation shall bear interest from date at the rate of ThirteeII -per trot ( 13. QQ ) per annum until the principal and interest are fully paid. i Interest for each calendar nwnth shall be accrued on the first day of said month aril be computed on the unpaid balance of principal and interest existing on the last day of tf?c prexediug month. This note shall !x considered in defauh when any pa}•- ment required to be made hereunder shall not have keen made by its due date and s~Uf teeII rn default until said payrneni s~aU have been made. \Vhile in default, this note shall bear interest at the rate of r~11 pe ( 15.0 I~ annum in lieu of the rate hereinbefore spexified. AU makers and enclorscrs now or hereafter becoming parties hereto jointly and severally waive demand, notice of non- payment acrd protest, and agree that in the event of default in the pa}n»ent of any installment due hereunder for a period of thirty (30) days the whole of said indebtedness shall thereupon at the option of the bottler, become immediately due and pay- able, arid if this note becomes in default andu placed in the hands of an attorney for collection, to pay reasonable attorney's Eees and all other costs including costs and attorneys fees of Appellate Coed Proceedings for making such collection. "this note nwy be prepaid in whole or in part at any time widlout penally. i ' s/Daniel A. Tosch - ---------(SEAL) ~an3el~Tosch - (EAL) i j - _ -____(SEAL) s/Donald -TL.__-Erickson - _ (SEAL) f t 7 his note is secured by a mort}age of even date executed by t!1e rn'17'~~~~~asi5r ot-T,oimniu nCv Federal Savings and Loan Assn. of lliciera Beach) and sl?all prorn~tl}• perform, comply with, and abide by each and every the stipulations, agreements, canditioac, and wvenants of said prom- issory note a of this deed, then the estate hereby created shall cease anti ire null and void. ~ . t A;\D the htost;tag:or does hereby covenant and agree: r 1. To pay all and singular the principal and interest and other sums of money payable by virtue e>f said promissory note anti this mort- cage, or either, promptly on the days respectively, the scare severally come due. To pay all aril singrdar the to:ex, azcessments, levies, liabilities, obligations and encumbrances of every nature on said described prop- ~rty each amt every when due and payable according to law, before they become delinquent, and if the same shall not be promptly paid :Lc \turtgagec may at any time either )mEore or after delinquency pay the same without waiving or affecting the option to foreclose, or soy 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 er~uipment and personal property now or hereafter on said premises, covered by this mortgage, tenured in a sum at least ecgnal to the unpaid balance of this mortgage, ins udiog fire, flood, extended coverage vandalism, malicious mischief, and 1ny other coverage required by the mortf;agce, ac to properties other than dwellings and fire, flood, extended coverage, special-form other-perils in.urance, and any of ter coverage reyuired by the morta>Kee, ern dwellings eligib~e for such broadened emerage -provided however, that such insnranc•e l,e in an amount sufficient to comply with any co-insurance requirements covering same under the laws of the Sttate of Florida, and provided further that the policy or policies shah be written in a company or companies and through an agency satisfactory to the Atort- ca;ce and that said polio•'~}• or policies shall be held by the ~IurtKagee arxl shall bear a starKlard I~ew fork Mortgagee Clause without contribu- tiun, makim, the loss urlc)cr said ~policics payable to the Mortgagee as its interest may appear, and in the event any sum of money beconlrs i t prvable under any such policy or policies, the \tortg:agee shall have the option to receive and apply the same on account of the indebtedness il.•n•bv c.rur/•d, or to pernrit the \torttracor to receive and trse it, or any part thereof, for other purposes, without thereby waiving; or impair- any eeprity, lien, or right under amt by virtue or. this muas;a;;r, and in the event the ~inrtgas;or does not comply with this covenant, the \lurt:;agce lnay rlac~ and pad (nr such insurancer., ur any part thcre•nf, without waiving or affecting; the option to foreclose, or any right here- ! nm!cr, and the full amount of eae•h and ew•ery such payment shall be immediately dnc an<I payable, amt shall bear interest from the date thereof until paid at the default rate providr~d in said note and toc~•thcr with such interest shall t1e secured by the lien of this mortgage. Insnr- anct• cervcrin}~ tht• peril of flood damage shall ix as rrrguir~rl by the Federal Disaster Protection Act of 1973, or as amended, and lortgagor covrn:ults anJ agrees to rnmply in all respects with the provisions thereof. 4. 7~hat nrorteag~• may, at any time during tl,e mort>age tr•nn, ana in its discretion, apply for renewal of mortgage {,maranh• in~urancr .-rn,~ring; the mort~ar:1• exc•crrted by the undcrsia:ned on even d:de herewith, pp..•ry the premium due by reason thereof, and require repayment by the undcrslgne.l of such amrnmts as are arh•anc•ed by said mortcagare. In file event n( fadnre by the undersi¢necl to repay said amounts to salt! mortc~agcc, such failure shall )re consic!tred a default, and all provisions of the note and mortgage with regard W default shall l,e applic- a~le. S. To permit, commit or alffcr no waste, impairment or deterioration of said roperty, or any part thereof, and upon the failure of the nn~rtkagur to keep U1e buildings em said property in t;oa1 corlclition of repair, the ~fort¢a ce may demand the immediate repair of said hnikl- inLC, m an tutee-ase in the amount of security, or the immediate re ayme•nt of the cleht hereby secured and the failure of the !?lorigagor to com- ply with said demaml of the Mortgagee for a period t>F thirty (30~ days, shall constitute a breach of this mortgage, and, at the option of the ~lorts:agt`e, iomlcdiately mature the entire amount of principal and interest hemby secured, s11e1 immediately and without notice, flee \lortgagee may institute proceedings to foreclose this mortgage and apply for the appointment erf a Receeci~~ver~~as hereinaft~~er~~pr~~ov??ided. - argrn~f~)Gil PeGF ~J() ~ .