HomeMy WebLinkAbout1444 a
TO HAVIs AND TO HOLD the ::me, together with the tenements, heralitawarb and appnrtenaaoes, Hato the Itdortgages, to fee simple.
AND the Mortgagor don hereby ooveaaat with the Mortgagee that he b seined of said laced is Ees simple, that hs bar
fuII power and lawful right o0 omvry said 4ad to fee sirnpb as dora~said; that it shall be wfut for the Mortgages at cell times pe~oea
and gtrtedY to aster upon bold, oocvpy and ea said land: that said lead is free frosa all incrnmbnaoes; that he will make such furt6~er
assurances to the foe aimpb title to said Wd to the Mortga~Rtee as ma t~easooably be required; that be don 6areby fully warrant
the title to ~ aced w(ll defend the same against the lawful claims of ~ persoss ..haaeoevar.
PROVIDED. ALWAYS, that !f the Mortgagor shall pay unto tbs Maatgages tbs oeetaiaa promtaosy sots of whit(, the foaosrloj m
wads nand figures Is a erns copy, 1o•wlts
COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEACH
uxt~x~~ ~ut~
RIVIEM BEACH, FLORIDA V 19 80 i
Being todebeed, for value received, tbs rmdasigaad aced aaverally paromise to pay tJO 00 NI1Y FEDERAL SAV-
[NGS AND LOAN ASSOCIATION OF RMERA BEACH at ib atfloe to the City of Rfviera Beach, Fbrlda, or order. the sum of
FORTY FOUR THOUSAND AND NO HUNDREDTHS-------- DOLLARS (~44, 000.00 )
together'std' interest theceoo as hereiru[ter staged to mouthy tnstllurenb of FIVE HUNDRED THIRTY NINE
AND 93/100ths---------------------------------------- DOLLARS (i 539.93
The first ios<:Mreot sbaII be fine and pyabb m the 10th ~ ~ September is 80
sad strbsequeot imtaltmeaes dull bs due and payabb oa the 10th day of eats and. avesy calendar mouth thereafter
rmetl the priadpd and intaast are folly paid. UUntil the firsE payment above-mentioned, interest
shall be due and pa ble rtr~onthly. -
aums may be paiid at t~inae, bat the payn~e of nay such larger stmis i:t addltIon to the payments ber~ein re-
quired not relieve the aulters af~ pay~at of the monthly hrtaDmmts hereLa provided for. unless it is specifically stiprr-
fated by tbe makers at the time of payment that -such larger sums arse bo be applied to ttre advance payment of the monthly fnstall-
mmts neat matunng in the order of their duce dates. AII payments made upon-this noEe shall be applied fiat to the paywent of ~
aotrued interest and seooodly upon the principal (
i
This obligation shall bear interest from date at the rate of fourteen and one /half per cent ( 14. 50 96)
per annum until tbe principal and interest are fuDy paid. '
i
interest for each calendar month shall be accrued ~ the first day of said month and be computed ar the unpaid balance
of principal and interest existing oa the last day of the preceding month. This note shall be eoasidered in default when any paY-
~ went required to be made hereunder shall not have been made by its due data and shall remain in default until said payment shall
have been made. While in default. this note shall bear interest at the rate of eighteen- - - - - - - - - - - - - per cent -
~ ( 18. 00 per annum in lieu of tbe rate hereinbefore specified and holder during default may at its option refuse to
j accept payment of any sum less than the total amount then d~ or declared hrreunder to be due.
' A11 makers and endorsers now or hereafter baoomina parties hereto jointly and severally waive demand, entice of non-
payment and protest, and agrce that in the event of defa tin the payment of i~tallmeat due hereunder for a period of
chi (30) days the whole of said indebtedness shall the a~? become immediately due and pay-
rtY thereriptaa at optim ~ the holder,
able, and if this name becomes in debult and is pLoed in the hands of an attorney for collection, to pay reasonabb attorney's fees
~ and all other costs inducting coats and attorneys ffeeeess of AppeWte Court Proceedings for malting such colleMion.
This note may be prepaid m whob or in part at any time without penalty.
- --(SEAL) g / JQaepl~ H._ Foley (SEAL) .
Joseph H. Foley -
~ - -(SEAL) s_/Christine K. Foley -
_ (scAL)
-
ris ine o ey
(This note is secured by a mortgage of even date executed by the makers in favor of Community l:ederal Savings and Loan Assn.
of Riviera Beach )
and shall promptly pedorm, comply w1th, and abide by each and every the stipuiatiom, agreements, conditions, and 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 aggee:
1. To pay aIl and singular the principal a~ interest and Sher sums of money payable by virtue of said promissory note and this mort-
gage, or either, P~l?vY on the days respectively, the same severally come due.
2. To pay all and singular the taxes, assessments, levies liabilities, obligations and eocnmbrances of every nature on said described prop-
erty each and every when due and payable aooording to few, before ~y become delinquent, and If the same shall not be promptly paid
the Mortgagee may at any time either before or after delinquency pay the name without waiving or affecting the option to foreclose, or ~
ar?y right hereunder, and every payment so made shall bear interrst from the .date thereof at the rate provided in said proatitsory note.
3. To keep the buildings and all equipment and personal prope now or hereafter on said Premises, covered by this mortgage, insured
in a sum at least equal to the unpaid balance of this mortgage, indudiyag Hre, flood, extended oo~veragggg v~andaWm, malictio~u mischief, and
any other coverage regcored by the mortgagee, as to properties other than dwelfing~, and fire, flood, ertendad coverage, special-loran other-perils
insurance, and any other coverage required by the mortagee, on dwellings eligible for such broadened coverage -Provided, however, that
such insurance be in an amount sufficient to oom_
ply with any co-insurance raquireaoaents covering same under the laws of the State d Fbrida,
and provided further that the poh-cy or policies shall be written in a company ar oompaaies and through an agency satisfactory to the hfort-
gagee and that said pa or policies shall be held by the 1ltortgagee and :haD bear a standard New York Mortgagee Clause without rnntribu- ?
lion, making the lass under said policies payable to the Mortgagee as its jnterest may appear; and in the event suy sum of becomes
payable under any such policy or policies, the Mortgagee shall have ibe option to receive and apply the same oo account of tebcedaess
hereby secured or to permit the Mortgagor to reccirre and use it, or any part thereof, for other Pte, without thereby waiving or impair-
ing any equity, lien, or fight under quid by virtue of.this mortgage; and in the eves the Mortgagor does not oo~taply with this covenant, tLe -
Mortgagee may place and pay for such inswarrce. or any part thereof, without waiving or affec~ng the option to oredose, or any right here-
under, and the full amount of each cent( every such payment shall be immediately due and yabte, and dull bear interest from the date
thereof until paid at the default note provided in said note and together with such interest sha)~be secured by the lien of this mo~ge. Inanr-
arrce covering the peril of flood damage shall be as required by the Federal Disaster Protection Act of l a, or as amended, and mortgagor
rnveoants and agrees to comply in all respects with the provisions thereof.
4. That mortgagee may, at any time during the mortgage term, sad in its discretion, apply for renewal of
covering the wortgage executed by the underaigoed on even date herewith, pay the Plum due by reason ~aod~repa
by the undersigned of such amounts as era advana~d by said awrtgagee. In the event of failure by the undersigned to repay said amounts to
said mortgagee, such failure shaD 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 m waste, impirmeat or deterioration of said , -a any part thereof, and upon the failure of the
mortgagor to keep the buildings oa said property in good oooditioo of repay the l~ir~~ee may demand the immediate repair of said build-
ings, or an increase in the amount of security, or the immediate yment of t~e debt hereby secured and the failure of the Mort
ply with said demand of the Mortgagce for a period of thirty (30~days, shall coactttnte a breach of thus mortgage, and, at the gagor to com-
Mortgagee, immediately mature the entire amormt of-principal and fntereat hereby secured, and immediately sad vrithout notice, the~irt~tpge~e
uuy institute gooeedings to foreclose this mortgage and apply for the appoiatmmt of a Receiver. as 6areioafter provided.
nQ ancV1 ,i 1 ~ t'1