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Home My WebLink About0873 TO HAVE AND TO HOLD the same, together with the tub, bereditaareots and appurteoaooes, unto the Mortgages, in fee simple. AND the Mortgagor rice hereby covenant with the Mortgagee that be b seined of aid land In fee simple, that bs 6at full power and lawful right t~ convey said land in foe simpb as doresaid: that it~wfd fns the M es at all ttmet ~ and quietly to meter rrpo~ hold, occupy and ao~oy said Wd; that said 4nd is free from aD iriarmbranoes: tha will make sucL further assuranoa to the fee simple titb M said land in the Mortgagee as rw~r rasooably bs regnired; that hs don hereby fuCly warrwt the title to taf land and wiD defend the sauce agatmt the Lwful c1aWr d aII peraooa whomwever. PROVIDED, ALWAYS, that ff tbs Mortgagor sbaU py twto the Mortsages the oerWn promWory sioEs o! whkL the fo0osri~ m words and figures i a tree Dopy. to-wits e s COMMUNITY FEDERAL SAVIIVGS AND LOAN ASSOCIATION OF RIVIERA BEACH s AMERA BEACH. FIARIDA March 2 5 19 80 Bring tndeboed, far value reodved, the undersigned jotndy and averaDy promise to pay to COMMUNITY FEDERAL SAV- 1NCS AND LOAN ASSOCIATION OF RIVIEM BEACH at ib oNioe in the City of Rivbra Beach, Fbrida, or older. the sum of FORTY ONE THOUSAND SIX HUNDRED & NO/100ths------- (i41 600. 00 ) together with h~terest thereon as baeinafter stated in monthly m:talhneob of FOUR HUNDRED SE~{ENTY SEVEN AND ?4/100ths---------------------------=----- DOLLARS (i 4??. ?4 The first fiostalbmeot shaD be due and payable on the 10th day of September . 19 8 0 and subaegneot its shall bs due and payable on the 10th day of each and every calendar month thereafter until the and interest ors paid.. Until the first payment above-mentioned, interest shall be due andyab a monthly I,,~~ sums may be at time, but the p~aYment of arty arch huger sums in addition to the payments herein re- gnired shaIl not relieve the makers af~ payment of the monthly installment: 6erain provided for, unless it b specifically stipu- lated by the mtauknernsgat the lime of payment that arch liner sums are to be applied to the advance payment of the awnthly iastall- aocrncd ~te~reat and secondly upon t~ dri pal ~ Au payments made upon this note shall be applied first to the payment of This obligation shall bear interest from date at the rate of thirteen and one/half per Dent ( 13. 50 96) per annum until the principal and interest are fully paid. Interest fns each calendar month shaII be amrued on the first day of said month end be computed as the unpaid balance of principal and interest existing on the last day ~ the preceding month. This note shall be considered in default when anY paY_= meat 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 defauh, this note shall bear interest at the rate of eighteen- - - - - - - - - - - - - - per cent ( per annum in lieu of the rate hereinbefore specified and holder during default may at its option refuse to aooe~t~fes~t of a~ sum less than the total amount then due or declared hereunder to be due. AD makers and endorsers now or hereafter puHes hereto jointly and severally waive demand, notice of rwn- payment and protest, and agree that in the event of defa tin the payment of any installment due hereunder for a period of thirty (30) days the whole of said indebtedness~shaII thereupon at the option of the holder, become immediately due and pay- aand other cost: indoding coats and attorneys fees of AppeDate Coact ~Prooeed~r mga~f cemag such~oyollech'on. bk attorney's fees ` This note may be prepaid in whole or in part at any time without penalty. i Southern Development and Associates, Inc. s/James M. Thomas Individually (SEAL) Bye ~/Jama_B __M.__ Th-omasj Pres. (sE:u.l ~ ones Drool, tvi wally James M. Thomas, Pres.-~ _ (SEAL) ___s_/I~_~is_~I~~om~s.._Inslivi~1ua11_ ~.ois ~vi. ~ omas, Individually - (SEAL) (This note is secured by a mortgage of eves date e:eeuted by the ere in aver unity F eral Savings and Loan Assn. of Riviera Beach ) and shall Promptly perform, comply with, and abide by each and every the ~p~trorts, agroeanents, oonditioas, aorl covenants of said prom- issory note and of this deed, then the estate hereby created shall cease and be null and void. AND 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 aD and singular the tares, assessments, levies liabilities, obligations and encumbrances of every nature on said described prop- erty each and every when due and payable according to ~aw, 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, and every payment so made shall bear interest from the date thereof at the rate provided in said promissory note. 3. To keep the buildings and all eegqw~ent and personal p y now or hereafter co said premises, covered by this mortgage, insured in a sum at least equal to the unpaid balarroe of this mortgage. including fire, fbed. extended oaverage,vandalism, malicious mischief, and s any other coverage aired by the mortgagee, as to properties other than d and fire, flood, extended coverage, special-form other-perils req ge -Provided, howrver, insurance, acrd a~ other coverage required by the mortagee, on dwellings for such brwdened ooveratbe laws of the State of Fbrida, such insurance be in an amount sufficient to oom_ ply with any co-imvranoe requirements covering same ender and provided further that the policy or policies shall be written in a company or companies and through an agency satisfactory to the I?tort- gagee and that said pricy or policies shall be held by the I?fortgagee and shall bear a standard New York I?fortgagee Clause without eontribu- lion. making the bas under said policies payable to the Mortgagee as its interest may appear; and in the event a~ sum of mocey becomes payable under a~ such policy or policies, the 1liortgagee shall have the option to receive and apply the samA on aeoamt of the indebtedness hereby secured, or to permit the I?tortgagor to receive and rue it, or any part thereof. for other purposes, without thereby waiving or impair- - ing any equity. lien, or n 6t under aanndd by virtue of this mortgage; and in the event the Mortgagor does not comply with this covenant, the !Mortgagee may pL~a~ce an~ pay for such irlsrrrarrce, or any part thereof, without waiving or offe~ng the option to feredese, or any right here- ~ under, and the full amount of each and every such payment shall be Immediately due and~ayabk, and shall bear imerrst iron the date ~ thereof until paid at the default rate provided in said note and together with such interest shaD be secured by the lien of this wortgage. Insnr_ once covering the peril of flood damage shall be as required by the Federal Disaster Protection Act of 1973, or as amended, and mortgagor covenants and agrees to comply in all respects with the provisions thereof. 4. That mortgagee may, at any time during the mortgage ternr, and in its discretion, apply for reaewd of ge guaranty iasruanoe covering the mortgage executed by the undersigned on even date 6eresvith, 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 said nwrtgagee, such failure shall be considered a default, and aIl provisions of the note and mortgage with regard to default shaII be appli- _ cable. 5. To permit, commit or suffer oo waste, impairment or deterioration of said , as any part thereof, and upon the failure of the mortgagor to keep the buildings on said property in good condition of repair the_ggee may demand the immediate repair of said build- ings, or an increase in the amount of security, or the immediate ymeot of t~e debt ~b7~ secured and the failure of the Mortgagor to com- ply with said demand of the Mortgagee for a period of thirty (30~days, shall ooostitnte a breach of this wortgage, and, at the option of the Mortgagee, immediately mature the entire amount of principal and interest hereby secured, and immediately and withwt notice, the Mortgagee may imtitute proceedings to foreclose this mortgage and apply for the appointment of a Receivs~e~,~apOherdnafterQpr~ided. Bnlac~X.?O PnGE O I