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Home My WebLink About0206 • . TO HAVE AND TO HOLD the acme, together with the tenemeab, bereditamenb and appurterraooes. unto the Mortgagre, in fee simple. AND Mortgagor dpea hereby covenant with the Mort~cee that be indefeasibly aet>7ed of said land to fee aimplew, that be hers full power law(u) right to convey said land in fee simple as aforesaid; that it a6all be lawful for the Mortgagee at all times peaceably acrd quietly to enter upw~, hold, occuppyy and en' said land; that said land is free fran all inctunbrances; ttrat 6e will make such further assurances to prote~~t the fee simple d'tle to said land in the klortgagee as ma reasonably be required; that be doer hereby fully warrant the title to acid land and will defend the same against the lawful claims of all persons wbomwever. PROVIDED, ALWAYS, that if the Mortgagor shall pay ento the Mortgagee the a+rtain promisaear ante of whkh the fdlowinj !a wads and figurer Y .tress Dopy. to-wus COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PALM BEACHES RMERA BEACH, FLORIDA ~ 17 19 80 Being indebted, for value recdved, the undersigned jointly and severally promise bo pay bo COMMUNITY FIDERAL SAV i INGS AND LOAN ASSOCIATION OF THE PALM BEACHES at it offioa in the City of Riviera Beach, Florida, or order, the sum ~ FIFTY SIX THOUSAND AND NO HUNDREDTHS -------DOLLARS 56,000.00 ) together with interest thereon as 6ereinaher stated in monthly instalLnent of Seven Hundred Fifty Four and 18/100----------------------------~~~~------------- DOLLARS (i 754.18 The first installment .:haD be due and payable on the 10th day of June 19 80 and subsequent installments shall be due and payable on the 10th day of each and every calendar meth thereafter until the principal and interest are fully paid. Larger sums may be paid at time, bat the payment of any such larger sums in addition to the payments herein re- quired shall not relieve the makers of~ payment of the monthly installments herein provided for; unless it is specifically stipu- lated by the makers at the time of payment that such larger sums are to be applied to the advance payment of the monthly install- ments next maturing in the order of their due dates. All payment 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--Sixteen------------- per cent ( 16.00 `A ) per annum unfit the principal and interest are fully paid. Interest for each calendar month shaII be accrued an 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 shall be considered in default when any pay- ment n~uired 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 Hate of --Eighteen--------------- .per Dent ( 18 96) per annum in lieu of the rate hereinbefore specified and holder during default may at its option refuse to accept payment of any sum less than the total amount then due or declared hereunder to be due. ' j AD makers and endorsers now a hereafter beoomina parties hereto jointly and severaDy waive demand, notice of non- payment and protest, and agree that in the event of default in the payment of installment due hereunder for a period of chi (30) days the whole of ,said indebtedness shall the auy ~rerorr?e immediately due aril pay- rtY thererrpm at aptian d the holder, able, and if this note becomes in default and is placed in the hands of an attorney for collection, to pay reawnable attorney's ferns i and all other nosh indudinyt coats 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. I rctza~ S/Mordeca~i E. Berkowitz _ (SQL) Mordeca>fi E. Berkowitz II rc>:a~ S/June Berkowitz (SEAL) une er o tz (This note is soured by a mortgage of even date eaflewted by the makers in favor of Community Federal Saving and Loan Auer. of the Palm Beaches) i and shall pan ptly perforw, comply with, and abide each and eve the ~u]~ l issory note d of this deed, then the estate hereby created shall oea~se and be null~and v~o~dd.~~ ooaditions, and oovenanb of said pro~m- AND the Mortgagor does hereby covenant and agree: ~ i. To pay aD and singular the principal and interest and other :rams of money payable by virtue of said promissory note and this mat- j gage, or either, promptly on tbe days respectively, the same severally Dome due. I 2. To pay aA and singular the taxes, assessments, levies liabilities, obligations and encumbrances of every nature on said described prop- erty each and every when due and payable according to )saw, before they become delinquent, and if the same shall not be promptly Paid E the I?iortRagee may at any time ,either before or after delinquency pay the same without waiving or affecting the option to foreclose, or f 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 tquipmeM and personal prope now or 1>erafter on acid premises, covered by this mortgage, insured in a srom at least dual to the unpaid balance ~ this mortgage, including fire, flood, extended rnvera any other coverage r aired by the mortgagee, as to properties other than dwe and fire, flood, exteo~ed nrahcrous mrschief, and gs ge, spacial-form other-perils insurance, and any er coverage required by the mortagee, on dwellings eligr'bje for such broadened coversggee -provided, however, that i such insurance be in an amount sufficient to eomplr with any eo-insurance requirement covering same under the laws of the State of Florida, and provided further that the policy or policties sha(t) be written in a company or companies and through an agency satisfactory to the Mort- gagee and that said policy or policies shall be Geld by the Mortgagee and shall bear a standard New York Mortgagee Clause without contribu- tion, malunng the krss under said policies payable to the 1llort~agee as it interest may appear; and in the event ayabk under any cud. policy or policies, the I?fortgagee shall have the option to receive and a ~Y sum of p pply the same m aocrnmt of the indebtedness hereby secured, or to pem»t the Mortgaggor to receive and use it, or any part thereof for other purposes, witbart thereby waiving or impafr- ing any equity, lien, or fight under aril by virtue of this mortgage: and in the tveM the Mortgagor does not compply with this coverran the Mortgagee may place andd pay for such insurance, or any part thereof, without waiving or affectingg the option to foreclose, a any right ~ ~ under, and the full amount of each and every crash payment shall be immediately due and payabb, and shall bear interact from the date ` thereof until paid at the defardt rate provided in said note and together with such merest shall be secured by the lien d this wortgage. Incur- ance covering the peril of fkrod damage shall be as required by the Federal Disaster Protection Ad of 1973, or as amended, and mortgagor = covenant and agrees to comply in all respects with the provisions thereof. 4. That mortgagee may, at a~ time during the mortgage term, and in fb discretion, apply for renewal of moctga covering the mort age executed by the undersigned oo even date herewith,pa y the premium fine thereof a~nd~~ by reason require repayment i by the undersigned of such amrnrnt as are advanced by said murtgaex. In the event of failure by the undersigned to repay said amounts to said mortgagee, such failure shall be considered a default, and aD proviso of the note and mortgage with regard to defauk shall be appli- cable. 5. To permit, commit or suffer no waste, irnprdrmeat or deterioration of said . a a~ hart thereof, and mortgagor to k.ep the buildwgs ao said property io good condition of agora the failure of the ings, or an increase in the amount of secure ~ ~ o'dgagee »Y demand the immediate repair of said build- . ty, a the immediate yment of tie debt hereby seaued and the failure of the Mortgagor to com- pfy with said demand of the Mortgagee for a period of thirty (30 days, shall oomtitnte a breach of this wortgaSe~ and, at the option of the Mortgagee. immediately mature the entire amount of prindpal i~ererri hereby secured, and immediately and without notice, the Mortgagee i may institute proceedings to foreclose thin mortgagee and apply for the appofnbmeat of a Reoeiverr, as herefaafber provided, BOOK PAGE