The URL can be used to link to this page

Home My WebLink About2173 + ~ , r T _ TO NAVE AND TO ~HOtD the tame, together with the tenements, hereditaments and appurtenances, unro the Mortgagee, in fee simple. i., ~i AND the Mortgagor does hereby covenant with the Mortgagee that he is indefeasibly seized of said land in fee simple, that he has full power and lawful right to convey said land in fee simple as aforesaid; that it shall be lawful fo? the Mortgagee at all times peaceably arH;l quietly to enter upon, hold, occupy and enjoy said tend; that said land is free from all incumbrarHxs; that hs will make such further assurances to protect the fee simple title ro said land in the Mortgagee as may reasonably be required; that he does hereby fully wacrant the title to said land and will defend the same against the lawful claims of all persons whomsoever. PROVIDED, AlWAYS, that if the Mortgagor sfteii pay unto tie tt'wt gages tl'.i: ~~riain pro:::iaso^E sw+ts c+f tllrt+ich the followilTg in words and figures is a true copy, to-wit: A TRUE COPY OF THE PROMISSORY NOTE IS ATTACHED HERETO. FIRST MARINE GAWK AND TRUST COMPANY OF THE PALM QEACHES ~~E - . . FlOR10A 19 Eieirg irrrlebted, for valor received, the undersigned jointly and severally promise fo pay fo FIRST MARINE tf/1NK AND TRUST COMPANY OF THE PA1M BEACHES at ire offlp in the Gry of - _ . . _ , Fbrida, a order, tM sum of ' OOUARS (t ) togtthtr with interest tlstrton ss haeirtafter stated in monthly irotalMrtettte of - - OOUARS Tlta first kupltmertt sitali be due and payable on the day of 19 and w6segsrtrrt irutdintents shill be dw and payable on the day of each and every akndar month thereafter until the prittdpel and interest era fully paid. larger sums may be paid at any rims, but the payment of arty such larger Burro in addition ro 1M payments herein required sMll rat relieve the makers of the payment of fM monthly installments herein provided for, unleu it is specifically stipulated by the makers at the rims of payment that suds larger starts are a ba applied to the advance payment of the monthly irrtaltments nett rrwhaing in the order of their due daNs. All payments made uppn this nose shalt ba applied first b 1M payment of swued interest and secondly upon tM principal. Tlir obligation shall bear interest from date at tM rest of per otnt ( per artntttrr until lira prirrdpal and interest an fully paid. Intartst for each calendar month shall be aartxed on the first day of said month and be computed on the unpaid balance of pircipal and free ttrast ezistirg on the last day of tM preceding month. This note sMll be considered in default when any payment required to be made hereunder shall not haw been made by its due date and shall remain in defauh until said payment sMll Mw been made. whits in defauh, this note afrall bear krbrest n tM rate of - per wrN 1 - Par amwn in liay of /M rant henirtbefet specified. • Ap makers and endorsers now a hereafter becornirg partite htnto jointly and atverNh waive demand. norica? of ronpayrtweti «rd y.v:c;:. and agree that in tlr went of default in the payment of arryr installment due hereunder for a period of thirty (30) days tM wMle of said irtdebttdrteas shag thereupon at tM option of the holder, became ientred;aaly due and payabN, and if this note becomes in default and is plead in the bends of an attor- ney fe colltetion, ro pay rtawnable attorrsey's fees and all Whet cosh including costs and attorneys fees of AppellaN Court Protaedups iw•ttsekLrp such ootleetion. - ' This note may 6e prepaid in tehoie or in part at say tune without penalty. - ISEAU - - - - - --•-(BEAU - . - - ISEAU (this rose is wowed by • metgage of even daN ezeMed by the makers in favor of First Matri+te bank and Tent Company of the Palm aeaclrs) and shall. promptly perform, comply with, and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory dote and of this deed, then the estate hereby created shall cease arld be null and void. AND the Mortgagor does hereby covenant aril agree: 1. To Pay sa and stngular the pinripa) and interest and otMr soar of money payafaM by viAw of said promissory nog and this on tree dap respactivelf, tl» same sevvalh cane dot. met9a9e, a eitfwr, paerptly To Oay afl sect singular the taus. asstssrnents, Itv,es, liabil,ties, obhgatiorr and utcumbrances of .vay restore on seep oescnbed poperty each and every when due and wyable accad.nq ro law, before Meg become dalietquent, and if the same sl+atl not be promptly paid Me Mortgagee may ar any time either belae w alter dehr+Werur pay the same w,MOUr waiving or affecr,nq the option a f~recbse, or any right hereunder, and every wymertr so made shall bear interest from the den thereof ar Me rare pror.ded en said prornissory note. 3. To keep the buildings and all equipment and personal property tww w ftereaf?er on acid premises, covered by this mortgage, inswsd in a sum at least equal ?o the unpaid balance of Mis mortgage, inKluding fire, flood, extended coverage, vandalism, malicious mischief, and any other coverage required by the mortgagee, as to properties other than dwellings, and fire, flood, extended coverage, special-form other-perils insurance, snd any other coverage required rfte mortgagee, txt dwellings eligible for such broadened coverage -provided, however, that such insurance be in an amowtt sufficient to comply with any coo- iMwsnCe regteiremenn covtrirg same under the Isws of tM State of Fbrida, and provided fwther that the policy or policies shall be written in a company e companies and through an agency aatisiattory to the Mortgagee and tMt said policy a policies shall be Mld by tM Margsgee and sMll bear a standard New York Mortgagee Clause without contribution, making tM loss under said poliCNS payable to the Mortgagee as its imerest may sppeu; end in the event any stmt of money becomes payable txtder any such policy a policies, the Mortgagee shall Mve the option to receive and apply the same ore account of tM indebtedness hereby seawtd, or to permit the Mortgagor Io receive and use ir, a any part thereof, fa other pwposes, without Hereby waiving w impairing any equity, lien, a right under and by virtue of Mis mortgage; end in the event tM Mortgage does nor contPlY with Mis covenant, the Mortgagee may place and pay fe such ~ inswance, a any part thereof, without waiving a affecting tM option to feed ou, a any right hereunder, and the full amount of each and every such payment ~ sMH be imrrnediately due and payable, snd sMll bear interest from the dare thereof until paid at tM rate Woveded in said pore and rogerMr wits such interest sMll be sacwed by tM lien of Mis mortgage. lnswance covering tM peril of flood damage shall be as required by the Federal Disaste+ Protection Act of 1973, e as amended, srtd nrtorrgage covensnts snd agrees ro comply in ail respects wits the provisions thereof. • 1. Tleat mortgagee may, at any time during alts mortgage term, and in its disaerion, apply for renewals of neartgsge guaranty inswance covering /M mortgage executed by the undersigned on even ds» herewiM, pay tM premiums due by reason thereof, and require repayment by tM undersigned of such p amounts as are advanced by said mortgagee- In the event of failwe by the undersigned to repay said aretoureb to said metgsgee, stxh tailors sMll bt cat T sidered a default, u:d ail provisions of the note and mortgage with regard to default shall be apphcsbk. ' S. To permit, commit a strHer no wash, irnpairrreenf a deterioration a1 wid w ~ buil6ngs an said property in good candit:on of repair. tM Me ~ ~ thtreol, and upon the faikxe of flee rnongager b keep Nre tgegee my demand tMumwd~aN repair of said buildings. o? an increase in tM smoum of wcwity. a Nte irrrrtediate rapaynrrtt d the debt hereby secured end ttte failure of tM Mortgagor a comply with said demand of tM Mortgagee fa • period of thirty 1301 ' days, sMll corgt;rune a breach el shin mortgage, and, b tM opton of Nre MoHgagae, imrMereaNfy notate tM entire amount of principal end interest Mreby ,.c.,,ed, and im..,si~ans~y aid winhan reotip, tM Matgegae may InrHNrre proeeedinga t0 /aeelow Mis matgaga and apph fa the aPpp,nemant o1 a Reeaiver, n Fe~ar,l~er pr c.~.~?r a.