HomeMy WebLinkAbout1091 TO HAVE AND TO HOLD tho same, together with the tenements. hereditsmeats and appurtmauces, unto the Aiodgagee, in fee ,rimplr.
M'D the Iltortgagor does hereby covenant with the Mortgaltea that he is indefead seised of aid land in fee tlmpb, that bo hat
full power and lawful right to convey said land in fee sirnpb a, aforesaid; that it shall be lawful for the Mortgagee at all times peaceably
and quietly to enter upon, hold, occupy sod en' ysaki lead; that said Lead is free !ran all iucrrrubra„ces; that be will make surL further
assurances to protect the fee simple title to said land is the Mort agges as ma reasonably be required; that he does hereby fully warrant
the title w said land and will defend the sane agaitast the lav~ claiau of alI person whomsoever.
PROVIDED. ALWAYS, that !f the Aortgagor shall pay unto the Mortgagee the oertata •pramistory ao0e of .rhioh the foilowiag in
words and figures b a true Dopy. to-rMtr ,
I
CODi11iUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEACH
I
u x#~tt~E ~u#r
i
~ RIVIEM BEACH. FLORIDA March 11, 19 80
~ Being Indebted, for value received, the undersigned jointly and severally promise to pay to COMMUNITY FEDERAL SAV-
WCS AND LOAN ASSOCIATION OF RIVIERA BEACH at its office in the City of Riviera Beadr, Fbrida, or order, the arm of
SIXTY TWO THOUSAND FOUR HUNDRED AND NO HUNDREDTHS- -DOLLARS(i 62,400.00 )
together with interest thereon as hereinafter stated in mwrthy instruments of
Six Hundred Ninet Two and
29/ 100-- - l~ 692.29
The Sat instaDmaat shall be due and payabL: oo the 10th day~of April l9 80
I and subsegneat iastallaoents shall be due and payable on the 10th day of aacb and every akadar month thereafter
until the principal and interest are fuDy paid.
Larger arms may be paid at an time, but the payment of any such Luger sums in addition to the
I quired shhaaDll not relieve the makers of the pa t of the monthly instauments herein provided for, udess it u
yments herein re-
lated by the makers at the time of payment that such larger sums are to be a Led to the advance specnc~ally sUpu
meats Wert maturing in the order of sheer due dates. All ~ payment of the monthly irutall-
accrued interest and seen u n the p'ay~nts made upon this note shall be applied first to the payment of
nd1Y po principal. .
This obligation shag bear interest from date at the rate of Thirteen-------- per cent ( 13.00 96 )
i per annum until the principal and 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
of principal and interest existing on tl?e lazt day of the preceding month. This note shall be considered in deiault when any pay-
ment required to be made hereunder shall not have been made by its due date and shall remain in default until said payment shall
have been made. While in default, this note shall bear interest at the rate of t _ per cent
( tS per annum in lieu of the rate hen:inbefore specified and holder dunng delau~t may at its option refuse to +
accept pa~~ttnt of any sum less than the total amount then due or declared hereunder to be due.
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 instaWnent due hereunder for a period of
thirty (30) days the whole of said indebtedness shall thereupon at the option of the holder, become imnxdiately due and pay-
able, and if this note becomes in default and is placed in the hands of an attorney for collection, to pay reasonable attorney's fees
and aII other costs including costs sod attorneys fees of Appellate Court Proceedings for malting such collection.
This note may be prepaid in whole or in part at any time without penalty.
- . (SEAL) S/Andrew- 0. Pittlnan,Jr. (SEAL)
Andrew 0. Pittman, Jr.
- -----~---__._--.(SEAL) S/Rebecca Pitttm~a~n 1SLAL)
t This note is secured by a mortgage of even date executed by the rnai;ers rCnCtavoriot L;ornmunity Federal Savings anti Loan Assn.
4 of Riviera Beach)
and shall promptly perform, comply with, and abide by each and every the stippuL•rtions, agreements, oonditioru, and covenants of said prou,-
i,ury note and of t u deed, then the estate t?ereby created shall cease and be null and void.
AID the Mortgagor does hereby covenant and agree:
1. To pay all and singular the principal and interest and other sums of money payable by virtue of said promissory note and this mort-
gage, or either, promptly on the days respectively, the same severally come due.
2. To pay all and sinbn,l:rr the fazes, assessments, levies, liabilities, obligations and encumbrances of every nature on said described prop-
erty each and every when due and payable according to law, before they become delinquent, and if the same shall not be promptly paid
a,e bortgagee may at any time either before or after delinquency pay the same without waiving or affecting the option to foreclose, or
iuy right hereunder, and every payment so made shall liar interest from the date thereof at the rate provided fn said promissory note.
:3. To keep the buildings and all equipment and personal property now or hereafter on said premises, covered by this mortcage, insured
u. a sum at (cast equal to ,e nlipaid balance of this mortgage, inC uding fire, flood, ertended oovera~ vandalism, malicious mischief, arKl
any other coverage reyuireil by the moRgagec, as to propcrti+~c u;n~r than dw•ellrn~gss and fire, flood, exte ed coverage, special-fonn other-perik
insurance, and any other coverage rectuircd by the mortagee, on dwellings elig'bje for such broadened coverage -provided, however, that
such insurance be in an amount sufficient to eompsy with any eo-insurance requirements covering same under the laws of t1,e State of Florida,
and provided further that the policy or policies shall be written in a ~omparay or eompaafes and through an agency satisfactory to the ~tort-
;;a~ee and that said poL'cy or policies steal! be held by the Mortgagee and shall bear a standard New York I?fortgagee Clause K~thout contribu-
rion, rnal:ing the labs under said policies payyable to the 1lfortgagee as its interest may appear; and in the event any sum of nwnecyy becomes
payable under any such pulii.~y or palia:;c5, the hio:tgagec shah have the option to reeeire and apply the same on account of the indebtedness
hereby secured, or to pern,it the I?iortgagor 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 y virtue of this mortgage;,and in the went the I?fortgagor does not comply with this covenant, the
~tortgagce may place and pay for such insuranrti•, or any part tl,creof, without waiving or affertin~ the option to foreclose, or any right herc-
nurlr`r, and the full. amount of each and every such payment shall be immediately due and paya~ile, and shall bear interest from the date
thereof until paid at the default rate provided in said note and to;~r•thcr with such interest shall be secured by the L'en of this morlgalte. Insur_
once tmcring the peril of flood damage shall be as re~tuired by the Federal Disaster Protection Act Of 1973, or as amended, and mortgagor
cu~~enants and agees to comply in all respects with the provisions thereof.
4. That mortgagee may, at any time during the mortgage term, and in its discretion, apply for renewal of mortgage guaranty insurance
covering the mortgage executed by the undersigned on even date herewith, pay the premium due by reason tbeteof, and require repayment
by the undersigned of such amounts as are advani.~ed by said mortgagee. In the event of failure by the undersigned to repay said amounts to
maid mortgagee, such failure shall be considered a default, and all provisions of the note and mortgage with regard to default shall be appli-
cable.
5. To permit, commit or suffer no waste, impairment or deterioration of said ppro~perty, or any part thereof, and upon the failure of the
mortgagor to keep the buildings on said property in good cooditirnr of repair the Mortgagee nuy demand the immediate repair of said build-
ings. or an increase in the amount of security, or the immediate re ymtot of the debt hereby secured and the failure of the Mortgagor to com-
ply with said demand of the Mortgagee for a period of thirty (30~days, shall constitute • breach of this mortgage, anti, at the option of the
:Mortgagee, immediately mature the entire amount of principal and interest hereby secured, and immediately and without notice the Mortgagee
may institute proceedings to foreclose this mortgage and apply fa the appointment of a Receiver, as hereinafter provided.
3~7 p~~f 1t~U
c!i')j(
_ - - _ - - - - - - - - - ~I _