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HomeMy WebLinkAbout1306 ' C-737A cr 593?0-2 ~0 ~ THIS MORTGAGE INDENTURE 4N493~ Executed foie } 5'`~day of . April , A,o..1980 , by - . JOSEPH C. PALAMOUNTAIN, JR. and ANN$ T. PALAMOUNTAIN, husband and wife. party o1 the lust part Iherarsatta called Mortyagorf, to - CHASE FEDERAL SAVINGS AND LOAN ASSOCIATION a corporation •xrsurig uistllr the laws of the United States of America, party of the second part (haernallN catkd the Association), 1 WITNESSETH, That fa dryers good ai?d valuslsk considaatrons, and to secure ttse payment of the aggregate win of money named in the prom,tSOry note of even date herewith, heranalnr mentioned, together with interest thereon and all other wins of money secued hereby as hereinaher provided, the Mortgagor does grant, bargain, sell, alien, remese, rakase, convey and conlum unto the Association, in fee simp~kyt~he lollonwng described rest estate, of which the Mortgages rs now seized and possessed and rn acwal posscuron, satiate m the county of STe ItUCIE State of Flesrda, legally described as follows - SE$ L$GAL DESCRIPTION ATTACHED) ; r : ~ ~ _ tt ; ~ y'NJ ~ J- v ~ t r TOGETHER wnA all strsxturos and improvements now and hereafter on seed land and the textures attached thereto, also together vwth all and s,rsgular the tenements, neredrtaments, easements, riparian rights and appurtenances thaeunlo belorsgrrsg, es in any ores! appertaining, and the rents, issues, and protrts thereof, and also all the estate, right, title, interest and all claims and demands whatsoever, as well m law as in tqudy, of said Mortgages m and to the same, and every part and parcel thereof, and also all gas and etecurc fixtures, rsd,ators, heaters, air corxsruoning equ,lrrsent, machinery, boners, ranges, elevators and motors, bathtubs, sinks, water closets, water basins, pipes, laucett, and other plumbusg and !seating fixtures, mantels, refitgerating plans srsd ice boxes, wrrsdow screens, screen doors, versetran Winds, storm shutters arxl awnings, vvh,ch err now o. may hereafter pertmn to w be users with, rn or on Sara premises, even though they lie dltxhed es detachable, are and shall tie deemed to tse fixtures and accessrorss to the Irtehold and a part of the realty, and, el the above descritx+.d property n now w shall hereafter tx used tes corrsrrseicral purposes, then Ilse lurnrture and lurnrshrrsys and any replacements thereof vvhrch may be owned by Ilse Mortgages and wisrch are now or may hereafter tse located upon the above described property. TO HAVE ANO TO HOLD the same, together wrlh all the estate, right, trek, rntaest, homestead, dower and right of dower, separate estate, possess,on, clam and demand whatsoever, rn law or rn eyu,ty, of else sad Mortgagor rn and to the same, and every part thereof, unto the ss,d Association in rte simple. The Motgayor hereby covenants with the Asstxrauon that the Mortgages rs rntltleasrbly seized with flee absolute and fee Semple rifle to sa,d propeUy. and has full power, and lawful authority to sell, convey, transfer and mortgage the same: that rt shall lse (awful at any tune hereafter la else Association to pexeaWy area qu,etly cote. upon, have, hold arks enjoy said proterty, aril every part thereof, that card propeUy is Tree and discharged from all Irene, encumbranxes, and clams of any kind, rrscliid,ng taxes and assessments, ercept the hen hereof, which is a first Iran sNS axed property. that the Mortgagor writ make such further aswrances to perfect the tee Semple tide to sa!d property :n !rte Assrx,ation as may reasoneWy lie reywred, and that the Mortgagor does hereby fully warrant unto the Association the trek to Sant property and writ defend same aa,,,nst the mortgage clams cent demands of all persons whesnsoevn. NOW, THEREFORE, the cond,tion of thn mortgage rs such that d the Mortgagor shall welt and truly pay unto the Assocratron, the rndtbtetlness rvntersced by that certain promssory note, of even date herewdh, made by the Mortgagor -and payable to the Association, m the pnrscrpal win .r3---------------------THIRTY THOUSAND and NO/100----------------------- DOLLARS a 30 ~ 000.00 1. together with mtaest as therein stated, payable ova a term of 34f2 nwmhs, and shall e>er tinm, omply with a,sif ab,dt by each anef !very the stipulations, ayreements, conditions and covenaMS conta,rsed and set fort rn the mortgage and m the piomrssory note sr. tired hereby, tnen tMs ma tyage anaf the estate heretsy created shall pease and be'null and void- - TRANSFER OF THE PROPERTY; ASSUMPTION ~ It all or any part of the Property or an interest therein is sold or transferred by Mortgagor without Association's prior written consent, excluding Ia) the t creation of a Iren or encumbrance subordinate to this Mortgage, (b) ifs! creation of s purchase money security interest for household appliances, Ic) a transfer 1 !.y devise, descent or by operation of law upon the death- of a point tenant or Id) the grant of any leasehold interest of three years or less not containing an u~rion to purchase, Association may, at Association's option, declare all the sums secured by this Mortgage to be immediately due and payable, Association shall have waived such option to xcelerate if, prior to the sale or transfer, Association and the person to whom the Property is to be sold or transferred reach .agreement en writing that the credit of such person K satistxtory to Association and that the interest payable on the sums secured by this Mortgage shall be ~ such rate as Association shall request. If Association has waived the option to accelerate provided in this paragraph and if Mortgagor's successor in interest Has executed a written assumption agreement xcepted in writing by Association, Association shall release Mortgagor from all obligations under this Mortgage i rind the Note. If Asso.:eatiorsexercisessuch option to accelerate, Association shall mail Mortgagor notice of acceleration. Such notice shall provide a period of not less than 30 days from the date the notice rs mailed within which Mortgagor may pay the sums declared due. If Mortgagor fails to pay such sums prior to the expira~ ;.on of such period, Association rrsay, without further notice pr demand on Mortgagor, invoke any remedies permitted by paragraph 15 hereof, AND the Mortgages doss hereby covenant and agree 1 To pay as and s,rsgular the prencrpal and interest and other wins of money payable by vrrtua of said prom,ssesy note and ttus mortgage. or euher. promptly on the days respectrvBly the same severally become due 2 io pay all and srrsgulsr the taxes. assessments. other governmental levees. liabilities. obigatrons and encumbrances of every nature on said described property j and the related debt acqursitiOn each and every when due and payable accesding to law. before they become delinquent and. d the same shatl not be promptly ti} paid. the Association may at any time: sdher before or after delinquency. pay the same without wsiwng or aHecurp the option to fesecbse. a any right hereunder. and every payment so made shaft bear interest from else date thereof at the rate of eighteen per cent (1816) per annum 4 3 That the Mortgagor well keep aN reN and personal property now or hereaher etxumberad by the hen of [MS mortgage irswred as may be regwred from time to ones! tsy the Association against loss by lire. windstesm and other hazards. cswalties and conungencreS for wch periods arsdles not less than such amounts as may be required by the Assocaatan and to pay presrtpily when due all premiums for wch esurance Mortgages agrees to deliver renewal es replxement 'I pobues of any nature es replacement certifrcateS of insurance to the Association, at least ten 1101 days prior to the exprrateon or anniversary date of the axrStirsg pol,c,es The amounts of insurance requued by the ASSOeratron shall f>e minimum amounts for which said mwrance shall be written and it shall be incumbent ` upon the Mortgagor to marntarn wch additional insurance as may be necessary to meet and comply fully weth all co-insurance rsquerements contained in sad pot:c,es to the end that said Mortgagor es not a co-inwres thereunder. Inwrarxe shall be written by a company es companees approved a designated by the t ; Assocra[,on and au poleciss arW renewals thereof shall bs MW by less Associateon Au detailed designations by the Mortgagor which are accepted by its! Association and all agreements bet,nsen Mortgagor and Assocuteon relating to mwrsrsce. now exrstirp es hereaher made. shall be in writing and shall be s pan ~ 1 of this mortgage agreement ss fully as though sat forth verbatim herein and shall ern both goy parties hereto and their successors and assigns. No lien upon any I of said pol,cres of insurarxe es upon any refund es return premium which may be payabb on the csnceHation es terminateon thereof, shall be given to other than the Associateon. except by proper endorsement affusd to such poficy and approved by the Association Each policy of insurarsce shall have aHrsurd thereto a i Standard New York Mortgagee l:buse without Contribution, rrialursg erg loss es losses under wch policy payable to rise Assouation as its eterest may appear In the event any sum or sums of nsessey become payable thereunder, the Association stsatl have the option to receive and apply the same on account of the rn• ~ j debtedness hereby secured, es to permit the Mortgagor to rsceiW and use rt. es any part thereof. witlqut tlsereby waning es impairing any equety. lean es right i under and by vutue of this mortgage In event of loss tx physical damage to the mortgaged property. tlse Mortgagor shall give immedian rsotice tMreoi by man ' to the Association and the Assocutwn may make proof of loss d the same is not made pompth/ by the Mortgages In event of forecbwre of tMS mortgage. es other uansfer o1 title to the mortgaged property, m extinguitrhment of else irsdebtedruu secured hereby. all right. title and !merest of the Mortgagor m and to any ,nwrarste polraes then en force shall pass to tlss purcMser or grantee Tfse Mtxtgages further agrees to abide by the rules and existing rsgulstrorss of the Association. rn conrsection with regiured inwrarsCe coverage of tM property harem encumbered g 4 Paragraph 4 and tlsose wick follow are conained on tM rewrae side of thra mortgage and by reference and rrscorpesated into tl+e body of this mortgage. The terms Mortgagor and Association, whersever used rn this instrument, shall include the hens, personal representatives, successors Or assigns of the ri!tpectrve parties Hereto. Wherever used, the srrsgular number shall include the plural and the Plural the sirsgular, and rise use of any gersder shalt rrsclude all genders. IN WITNESS WHEREOF, these premises have beers executed on the day and year first above written. $rgntd, seal and delivered rn else preSerKe OI: ~II`I ~ ~ t - ISEAU 6 JO ~PH Ca PA OUNTAIN, JR. ISEAU ANNE T. P OUN AIN ~ ~ ISEAI) r - ISEALI ss ~~i STATE OF NEW YORK COUkTY OF ~ N a 2 • i Theloregorrsgmstiurtsentwssxknowledgedtieforemethn~`L Ot April ,19 $0 ,,,.'..:i~rilrtrrrr~ ~+alfe~7l~L~c! f. ia~. ~ JOSEPH C. PALAlfiOUNTAIN, JRa and ANNE T. PALAIRO~TN~QII!F~` - ~ wife . ~ : r''-~,5~ tt>sa .otwac , - LENDER My commrssron expires ' - y~.,, r rotary Public, Stan of - ar;~;K~~ PaGE~I~~rc7C7 ~ _ _ ~j~+.