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Home My WebLink About2974 • 1 TO HAVE AND TO HOLD the same, together with the tenemer?b, hereditamenb and appurtenance„ unto the Mortgagee, in fee simple. AND the Mortgagor does hereby covenant with the Mortgagee that be b Indaeixed of said land io fee simple. that 6s has full power and lawful right to convey said land in foe simpb as aforesaid; that it shall be wful for the Mortgagee at all lima peaceably and quietly to eater upoa~ bold. occuppyy and en' said land: that said land is free from all irretrmbranas; flat 6e wW make arch further assurarrcea to protect the fee simpb title to said WKf in the I?~ortg~gee as ma~r reasonably ba requfred: that hs doea 6erebY fully ~rarrant the titb to said land and will defend the aarrre against the lawful claims of all person whornoever. PROVIDED, ALWAYS, that H the Mortgagor shall p.y unto the Mortgages the oertatn prominorp note d which tbs foilo+rlns m words and figures fs a true Dopy. to-wit: COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCUTION OF RIVIERA BEACH I RIVTEAA BEACH, FLORIDA /~C~Y / ~ 19 80 Being hraebtea, for value reoeIved, the tmdesigaea ,ointlY .na aeveraAy promise m pay tD O,O 'MMUNIIY FEDEIUL SAV- WCS AND LOAN ASSO(.'IATION OF RMERA BEACH at its office in the City of Riviera Beach. Florida, or order, the sum of FORTY FOUR THOUSAND AND NO HUNDREDTHS--------------------- 44 , 000.00 ) ~ together with interest thereon as hereinafter stated in monthly installment: of Five Nundred Five and 30/100-------------------------------------------------- DOLLARS (i 505.30 The first imtaDmeat shall be due and payable on the 10th ~ August 19 80 and tnbaegtreat inst4llmmts :baII be due and payable m the 10th day of each and every calwdar rnontb thereafter until the and interest are ~,p,, paid- it the first payment mentioned above, interest 1 shall be due and payable mon~i~y. ! saws may be paid at an time, but the payment of a~? such larger sums in addition to the payments herein re- quired shaD not relieve the makers of the payment of the monthly i»Stallments herein provided for, unless it is specifically stipu- ii ]sled by the makers at the time of payment that such larger sums are to be applied to the advance payment of the monthly install- i merits next matwiag m the order of their due dates. AU payments made upon this note :hall be applied first to the payment of accrued interest and secondly upon the principal. This obb-gation shall bear interest from date at the rate of Thirteen and one/half- Per ceOt ( 13.50 ~D) per annum until the principal and interest are fully paid. I 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 the last day of the preceding month. This note stuall be considered in default 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 ______Ei hteen- Per cent 96) per annum in lieu of the- rate hereinbefore specified and holder during ~efault may at its option refuse to accept pat of any~sum less than the total amount then due or declared hereunder to be due. i - All makers and endorsers now or hereafter parties hereto jointly and severally waive demand, notice of non- e.. payment and protest, and agree that in the event of defau t in the payment of any installment 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 pay- able, and if this note beoomea in default and is placed in the hands of an attorney for collection, to pay reasonable attorney's fees and all other costs including casts and attorneys fees of Appellate Conn Prooeedingt for making such collection. i This rate may be prepaid in whole or in art at any time without penalty. . i i - (SEAL) S/James J.- Barnes - (SEAL) James J. Barnes _ S/Wilda fit. Barnes -----(SEAL) - - - - - (SEAL) Wilda :K. Barnes F (Thu note is secured by a mortgage of even date executed by the makers in favor of Community Federal Savings and Loan Assn. of Riviera Beach ) t - and shall promptly perfomr, comply with, and abide by each and every the stipulations, agreements, conditions, oriel covenants of said prom- issury rate and of this .decd, then the estate hereby created shall cease and tee null and void. E AND the Mortgagor does hereby covenant and agree: 1. To pay all and singular the principal and interest and other arena of money payable by virtue of said promissory note and this mort- ~ ¢age, or either, promptly on the days respectively, the same severally Dome due. 2- To pay all and singular the tares, assessments, levies, liabilities, obligations and encumbrances of every• nature on said described prop- ) arty each and every when due and payable according to law, before they become delinyuent, 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, and every payment so made shall bear interest from the date thereof at the rate provided in said proinisurry note. 3. To keep the buildings oriel all equipment and personal property now or hereafter an said premises, covered by this mortgage, inured in a sam at )east equal to the unpaid balance of this mortgage, iucluding fire, flood, extended coverage, vandalism, malicious mischief, and - any other coverage required by the mortgagee, as to propertiex other than dwellrngs and fire, flood, eztended coverage, special-form other-peri)s insurance, and any other coverage regrured by the mortagee, on dwellings eligible for such broadened coverage -provided, however, that such insurance be in an amount sufficient to comp]~y with any co-insurance requirements covering same under the laws of the State of Fbrida, j and prodded furtlrer tl~at the policy or policies shall be writtenin a company or canpanies and through an agency satisfactory to the \fort- ~;a~ec and that said poh-cy or polities shall be held by the Mortgagee and shaD bear a standard New York Mortgagee Clause without contribu- tion, making the loos under said policies payyable to the 11fo:tgagee as its interest may appear; and in the event any sum of money becomes payable antler any such policy or policies, We 1llortgagee shall tr$ve the option to receive and apply the same on account of the indebtedness hereby secured, or to permit the rlort~agor to receive and rise it, or any part thereof, for other purposes, without thereby waiving or impafr- trig any equity, lien, or n'gl?t under acrd by virtue of thi. mortgage; and in the event the Mortgagor does not comply with this covenant the Mortgagee may place and pay for such insurance, or any part thereof, without waiving or affecting the option to foreclose, or any right ~iere- nncier, and the full amount of each oriel every such payment shall be immediately due and payable, and shall bear Interest from the date _ thereof until paid at the defardt rate provided in said note and toytetlrer with snc6 interest shall be secured by the lien ~ this mortgage. Insur- ' ante covering the peril of flood damage shall be a, required by the Federal Disaster Protection Act d 1973, or as amended, and mortgagor co~~enants and agrees 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 gwranty facuranee 3 covering the mortgage executed by the undersigned on even des*.e herewith, pay the premium due by reason thereof, and require repayment by the undersigned of such amounts as are advanced by said mortgagee. In the event of failure by the undersigned to repay said amounts to ,.cid mortgagee, such failure shall be considered a default, and all provisior~s of the note and mortgage with regard to default shall be appli- cable. y 5. To permit, commit or suffer no waste, impairment M deterioration of said property, or any part thereof, and upon the failure of the mortgagor to keep the buildings on said property in good condition of repair the Mortgagee may demand the immediate repair of said build- ings, or an increase in the arr?ount of security, or the immediate re yment of t~e debt hereby secured and the failure of the Aortgagor to com- ply with said demand of the Mortgagee for a period of thirty (30~days, shall rnactitnte a breach of this wortgage, and. at tl>e option of the I?fortgagee, immediately mature the entire amount of principal a interest hereby secured. and immediately and without notice, the Mortgagce may ir?stitute proceedings to foreclose this mortgage and apply for the appointment of a Receiver, as hereinafter provided. i