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Home My WebLink About1532 ~ ~ TO HAVE AND TO HOLD the tame, together with the teaernenb, bereditamenb and appurteoanoet, onto the Mortgageb, in fee simple. • AND the Mortgagor does hereby covenant with the Mortgagee that he b indefeasi seized of said land in fee simple, that bs has fuD power and lawful right to convey said land to fees simple as a[oresaid; that it shall be Lw[ul for the I?lurtgagee at all times peaceably and quietly to enter upon holed, occupy and enjoy said land; that said turd is free from ail incunrbrarreea: that 6e will make such further assurances to protect the fee simple title to said land in the Mort apgse as maY reasonably be required; that he does hereby fully wamnt the fish to said land and will defend the same against the Iav~ claims of al! persons whomsoever. PROVIDED, ALWAYS, that ff the Moc<gagar shall pay unto the Mortgagee tbs certain pramissoq? nuts of which the follawlni fa words and figures d a true copy. fro-wits COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PALM BEACHES c~~E RIVIERA BEACH, FLORIDAApril 30, 19 80 Being indebted, for value received, the undersigned jointly and severaIIy promise to pay to COMMUNITY FEDERAL SAV- INGS AND LOAN ASSOCIATION OF THE PALM BEACHES at its office in the City of Riviera Beach, Florida, or order, the sum ~ FIFTY FIVE THOUSAND FOUR HUNDRED AND NO AUNDREDT&S------- DOLLARS (i 55,400.00 ) together with interest thereon as hereinafter stated in monthly installments of Seven Hundred Forty Six and 10/100- DOLLARS(i 746.10 The first installment shall be due and payable on the 10th day of October 19 80 and subsequent iastallmenta shall be due and payable on the 10th day of each and every calendar month thereafter r,n~ ~ p~~ and are i„>ly pa;d. Until the first payment mentioned above, interest shall be due and syable ~gnthly. Larger sums may be paidpat tune, but the payment of arp? such larger sums in addition to the payments herein re- quired strati not relieve the makers of~ paymnnt of the monthly installments herein provided for, unless it b specifically stipu- lated by the makers at the time of payment that such lamer sums are to be applied to the advance payment of the monthly install- ments next matunn m the order of their due dates. All payments made upon this note shall be applied first to the payment .of accnred interest a~ secondly upon the principal. Thb obligation shall bear interest from date at the rate ofS3.Xteen------------- per cent ( 16.00 `'~D ) per annum until the principal and interest are fully paid. ~ Interest for each calendar month shall be accrued om -the first day of said month and be computed on the unpaid balance of principal and interest txisting on the last day of the preceding month. This note shall be comidered in default when any pay- ment required to be made bereunder shall not have been made by its due date and shall amain in default until said payment shall have been made. While in default, this note shall bear interest at the rate of --Eighteen-----------------fir cent ( 18 96) Per annum in lieu 'of the rate hereinbeforo 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. All makers and endorsers now or hereafter parties hereto jointly and severally waive demand, recline of >mn- . payment and protest, and agree that in the event of defau t in the payment of air installment due hereunder far a period of thirty (30) days the whole of said indebtedness shall thereupm at the option of the holder, beoorce immediately due and pay- able, and R this note becomes in default and is placed in the hands of an attorney for oollectiar, to pay reasonable attorney's fees and all other costa including costs and attorneys fees of Appellate Court Proceedings for making such rnllection. Ibis note may be prepaid in whole or in part at any time without penalty. S/Alders F. Peck,Jr. gg C~~1 Rll Aldte~n F. Peck,Jr. S/Kevin 0. Peck ~ ByECS/A]:d~n--F~~eck~Sr. , President_-_-. (g~,l ev n ec Alden F. Peck, Sr., President S/Alder F. Peck Sr. Individuall S/ nn Pe k (SI3Ata ' ' SEAL) p~~ p~ en ec~r., Individually (This nofe 3s s~i~ by a mortgage of eves date e>ecuted by the makers in favor ~ Community Federal Savings and I,wn Assn. of the Palm Beaches) I `[f t and shall prompsly ~{onn, comply with, and abide by each and every the Boni, agreemeata, oonditioae, and covenants of said prom- issory note and of this deed, then the estate hereby created shall cease andnull and void. AND the Mortgagor does hereby covenant and agree: i. To pay all and singular the principal and interest and other sums of money payable by virtue of said promissory note and this mort- gage, or either. Promptly on the days respectively, the same severally come due. 2. To pay all and singular the tares, assessments, levies, liabilities, obligations and encumbrances of every nature on said described prop- erty each and every when due and payable according to law, before they become delinquent, and H the tame shall not be P~PVY P~ the Mortgagee may at any time either before or after delinquency pay the same without waiving or affecting the option to foreclose, or 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 equipment and personal p now or hereafter ao said premises, covered by this mortgage, irrsrr:ed in a sum at least equal to the unpaid balance ~ this mortgage, including flood, extended coverage vandalism, malicious miuhief, aril any other coverage required by the mortgagee, as to properties other than dwellinggss,, and fire, flood, exteac~ed coverage, special-form other-perils insurance, and any other coverage required by the mortagee, oo dwellings eligr'bk for such broadened coveraggee provided, however, that i such irurance be in an amount sufficient to nom~y with any eo-insurance requirements covering same under the laws of the State of Florida, ~ and prodded further that the policy or policies shall 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 rnntribu- lion, m~long the lass under said policies payable to the Mortga ee ~as its interest may appear; and in the event a~ sum of becomes payable under any such policy or policies, the Aortgagee. shall ~ave the option to receive and apply the same oo account of theebtedness ` hereby secured, or to permit the Mortga or to receive and~trse it, or any part thereof, for other purposes, without thereby waiving or impair- ; ing any equity, lien, or n'ght under and ~y virtue of this mortgage; and in the evert the Mortgagor does not o~ply with fhb covenant, the Mortgagee may pl~a~ce an pay for such insurance. or any part thereof, without waiving or affecting the option to aredase, or any fight 6ere- ander, and the full amount of each and every such payment shall be immediately dire and payable. and shaD bear interest from the date E thereof until paid at the default rate provided in said note and together with such interest shall be secured by the lien of this wortgage. Iasur• once coveringL the pen? of flood damage shall be as requtrod by the is ederal Disaster Fmtakion Ad of 198773, or at amended, and mortgagor covenants and agrees to o~ply in all respects with the provisions thereof. 4. That mortgagee may. at any time during the mortgage term, and in its discretion, apply for renewd of guaranty fnsnranoe covering the wort age executed by the undersigned on even date herewith, pay the premium due by reason therwF. sand require repayment i by the undersi~ of such arrmunts as are advanced by said mort>zaoee. in the event of failure by the undersistioed to repay said amounts to said mortgagee, such failure shall be ooasidered a default, and all provisiom of the note and mortgage with regard to default shall be appli- cable. 5. To permit, commit or suffer no waste, impairmerrt or deterioration of said property. or soy Part thereof. and npou the failure of the 3 mortgagor to keep the buildings on said property in good oooditicn of repair the o~rtga~ee may demand the immediate repatr of said build- tnqt, or an increase in tbe amour of security. or the immediate repayment of t{re debt hereby secured and the failure of the Mortgagor to oorn- ply with said demand of the Mortgyrgce for a period of thirty (30) days. shall comtitute a breach of this mortgage and, at the option of the Mortgagee, immediately mature the entire arnaurt of Principal and interest hereby secured, and Emmediacdy and wit~oM notke, the 1llongagee may imtitute proceedings to foredase thb mortgage and apply for the aPpoiotmeat of a Receiver. d beedoafter provWed. 8~ 330 p~F 1523