HomeMy WebLinkAbout2539 TO HAVE AND 'I:O BOLD the same. together with the terreuraots,•bereditameab and appurterurrcea, unto the Mortgagee. to f~r. simple.
AND the Mortgagor does hereby onvenar?t with the Mortgagee tl?at he is indefeasibly seized of said land to fee simpb, that be bast
full power and lawfrd right to convey said land in tee simple as aforesaid; that it shag I,e lawful fur the Ilfortgagee at all tiu?es peaceably
ar?d quietly to enter upon, hold, occupyy and en~'oy said IarKl; tl?at said land is free from all encumbrances; Uwt 1?e will make such Iurthar
assurarxes to protect the [ee simple titM to said land is the t?tortgagea as rnaY reacorwbly be required; that he does hereby fully warrant
the titb to said land and will defend the same against the lawf?rl claims of all persona whomwever.
PROVIDED, ALWAYS. that lE the Mortgagor shall pay nnto the Mortgagee the certain predatory note d which the foilovdns m
words and figures b a true copy. to-wlt:
COD111iUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PAL11i BEACHES
~OY#~2I~E ~U~E
RIVIERA BEACH. FLORIDA April 19 80
Being indebted, for value received, the undersigned jointly and severally promise to pay to COI?fMUNITY FEDERAL SAV-
INGS AND LOAN ASSOCIATION OF THE PALM BEACHES at ib office in the City of Riviera Beach, Florida, or order, the sum
~ FORTY SEVEN THOUSAND EIGHT HUNDRED &no/100ths~~~ (;47 800. 00 )
together with interest thereon as hereinafter stated in monthly instalhnenb of FIVE HUNDRED FORTY EIGHT
AND 94/100ths-------------------------------------DOLLARS 548.94 ~
The first installment shall be due and payable an 1helOth day oaf May 19 80
and subsequent installments shall he due and payable on thelOth daY of each and every calendar month thereafter
until the principal and interest are fully paid. .
La er snms may be paid at a~ time, bnt the paymem of any such larger sums in addition to the payments herein re-
quired shall not relieve the makers of the -payment of the monthly installments herein provided for, unless it is specifically stipu-
lased by the makers at the time of payment that such larger sums are to he applied to the advance payment of the monthly inst:dl-
ments next maturing m the order of their due dates. All payments made upon this note shall be applied first to the payment of
accrued interest and secondly upon the principal.
This obligation shall bear interest from date at the rate of thirteen and One/half per cent (13. 50 °k)
per annum rmtil the principal and interest are frilly paid.
i
Interest for each calendar month shall be accrued ~ the first day of said month and be cemputed an the unpaid balance
of principal and interest existing on the last day of the preceding month. This note shall be rnncidered in default. when any pay-
i went required to be made hereunder shall not have been made by its due date and shall remain in default~u~itil said payment shall
have been made. While in default, this note shall bear interest at the rate of -e lE~ltee~- _ _ _ _ _ _ _ _ _ _ _ per cent
( 18. 00 per annum in lieu of the rate hereinbefore specified and ho a unng efault may at its option refuse to
accept payment of any sum less than the total amount then due or declared hereunder to be due.
All makers and endorsers now or hereafter parties hereto jointly and severally waive demand, notice of non-
payment and protest, and agree that in the event of defa tin the payment of any instalhnent due hereunder for a period of
thirty (30) days the whole of said indebtedness shall thereupon at the option of the holder, hecane immediately due anti pay-
able, and if this note bernmes in default and is placed in the bands of an attorney for collection, to pay reasonable attorney's fees
and all other costs including costs and attorneys fees of Appellate Court Proceedings for making such collection.
This note may be prepaid in whole or in part at any time without penalty.
!$g.AI,) Q /f t+.. -.r _ e s~a_-~ -.ae - (SEAL)
Charles Edwards
-(S~)
~ (This note is secured by a mortgage of even date e:ecated by the makers en favor of Community Federal Savings and Loan Assn.
of the Pabn Beaches )
and shall promppdY perform, comply with, and abide by each and every the ulatioat, agreenreats, conditions, and covenants of said prom-
issory note and of this deed, then the estate hereby created shall cease and null and void.
AND the Mortgagor does hereby covenant and agree:
1. To pay all and singular the principal and interest and other snms of money payable by virtue of said promissory note and this met-
gage, 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 natwe 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
the Mortgagee may at any time either before or after delinquency pay the same without waiving or affecting the option to foreclose, or
u?y 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 equipment and personal property now or hereafter on said premises, covered by this mortgage, insured .
in a sum at lust equal to the unpaid balance of this mortgage, oiling fire, flood. extended coverage, vandalism, malicioru mischief, and
any otl?cr coverage rec~uered by the mortgagee, as to properties other than dwellings and fire, flood, extended coverage, special-form other-perils
ensnrance, and any o er coverage required by the mortagce, on dwellings eligible for such broadened rnvera a -provided, however, that
such insurance be in an amount sufficient to comply with any co-insurance requirements covering same under the laws of the State of Florida,
and pro~idccl further that the policy or policies shall be written io a company or companies and through an agency satisfactory to the \tort-
fiagee and that said pollcc~~ or policies shall be held by the Aortgagee and shall bear a standard New fork Mortgagee Clause without contrebu-
tion, making the kus ur?der said policies payable to the Mortgagee as its interest may appear; and in the event any sum of money becomes
payable under any such policy or policies; the 1liortgagee shall have the option to receive and apply the same on account of the indebtedness 1
j hereby secured, or to permit the I?lort gor to receive and »,ce it, or any part thereof, for other purposes, without themhy waiving or imparr-
ing any equity, lien, or nght under aril by virtue of then mortgage; and in the event the Mortgagor does not comply with this crn~enant, the
Mortgagee may place and pay for such insurance, or any part thereof, without waiving or affecting the option to foreclose, or any right bere-
under, and the full amount of each and every such payment shall be immediately due and payable, and shall bear interest from the date
thereof until paid at the default rate provided in said note and together with such interest aha11 be secured by the lien of this mortgage. Insur-
ance 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 aD respecb with the provisions thereof.
g 4. That mortgagee may, at a~ time during the mortgage term, and in ib discretion, apply for renewal of mortgage guaranty iasruanoe
covering the mortgage e:eruted by the undersigned on even date herewith, pay the premium due by reason thereof, and require repayment
by the undersigned of arch amounts as are advanced by said rr?ort¢aeee. in the event of failure by tl?r undersicned to repay swirl amounts to
said mortgagee, such failure shall be considered a default, and aII prov~siom of the note and mortgage with regard to default shall be appli-
cable.
5. To permit, rnmmit or suffer no waste, impairment or deterioration of said p~pe~ty or a~ part thereof, and upon tbe failure.of the
mortgagor to keep the buildings an said property in good condition of repair the 1f? artgagee may demand the irmediate repair of said build-
inRs, or an increase in the amount of security, or the immediate yymarent of t~re debt hereby secured and the failure of the Mortgagor to com•
ply with said demand of the Mortgagee for a period of thirty (30~adaya, shall constitute a breach of this mortgage, and, at the option of the
Mortgagee, immediately mature tbe entire amount of prindpal anndd interest hereby secured, sad immediately and withers Qotioe, the Mortgagee
may institute prooeedingt to foreclae this mortgage sad apply for the appointment of a Receiver, as 6ereiaaher provded.
i Sft~K 329 PacE 2537