HomeMy WebLinkAbout1023 TO HAVE AND TO HOLD the ss?~. together with the teoeraenb, bereditamesrb and appartenaooet, auto the Mortgagee, is fee simple.
AND the Mortgagor does hereby ooveraant with the Mortgagee that less is todefead seized d said land in fes simple, that be 6sa
full power swd lawful right to convey said land in fee simple as aforesaid: that it shall be law[ul [a the Mortgagee at all times p~bably
and quietly to eater upoa~ hold, ocxupy and envy acid land; that said feral is fnr from cep incr?mbrances; that fee will make such further
assuratacea to protect the [ce simpb titb to a!d land W the Mortgagee as maY~ reasonably be required; that 6e doe hereby fupy ~ramwt
the titb to said land Arad will defend the same aga,int the lawful claims of all persona whensoever.
PROVIDED. ALWAYS, that ff the Mortgagor si>a8 pry Hato the Mortgages the oertaW prooalaaoq? Hots of which the folbwiss fa
words and figures fr .has Dopy. to-arttr
COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PALM BEACHES ~
M E DBE
~ ~
RIVIERA BEACH, FLORIDA May 12, 19 80
Being indebted, for value received, the nraderaigoed faintly and severally pranTse to pay to COMMf7IVI1Y FEDERAL SAV- ~
INGS AND LOAN ASSOCIATION OF THE PALM BEACHES at ib office in the City of Riviera Beach, Florida, or order, the sum
of SIXTY FOUR THOUBAND AND NO HUNDREDTHS (S 64,000.00 )
together with interest !l'e'es' as hereinafter stated in monthly installment of Eight Atutdr~~r(t~y Six and
28/100--------_ 836.28g
The first it shaD be due and payabb on the 10th of Jttnew 19
and subsequent insisllmenb :ball be due and payable oa the 10th day of each and every calendar month thereaft$erU f
until the principal and interest are fu11y paid.
Larger arms may be paid at time, bet the p~y~a~ d a~? such larger smm in additim to the payment herein re-
quired shall not relieve the makers d~e paya~at of the monthly irutal}menb herein provided for, unless it is specifically stipu- {
fated by the makers at the timed yment that such larger sums are to be applied to the advance payment of the rnonthly iattall- I
menb neat maturing in the order of their due dates. All payment made upon this note shaD be applied first to the payment d if
accrued interest and secondly upon the principal. t
This obligation shall bear interest from date at the rate of Fifteen and one/half-- Per cent ( 15.50 96)
per annum until the principal and interest are fully paid.
Interest for each calendar month shaD be accrued on the first day d said month and lre computed on the unpaid balance
of principal and interest existing on the last day d the preceding month. This note shaD be considered in default when any pay-
ment required to Ue made hereunder shall not have been made by its due date and shall remain in default until said payment shall
Move been made. While in default, this note shall bear interest at the rate d --Righteen --------per Dent • ~
( 18 Pa annum in lieu d the rate hereinlrefore specified and holder during default may at ib option refuse to
accept payment of arty sum less than the total anent then due or declared hereunder to ire due.
~ All makers and endorsers now or hereafter parties hereto jointly and severally waive demand, notice d non-
payment and protest, and agree that in the event d defa tin the payment of a~? installment due hereunder for a period of
thirty (30) days the whole d said indebtedness shall therecrpon at the option d the holder, became immediately due and Pay-
able, and if this note becomes in default and b placed in the hands of an attorney for collection, to pay reasonable attorney's fees
and all other costs including cosh and attorneys fees d Appellate Cann Prooeedmgs for making such collection.
This Hate may be prepaid is whole or in part at a~ time without penalty.
spa, S/Garret! 0. Ash (SEAL)
errs!! As l
3
IcrtAi
1 (SEAL)
i
( This note is secured by a mortgage d eves date aearDed by the makers in favor d Community Federal Savings and Loan Asses. i
of the Palm Beaches) i
r
I £
and shaD p rm, oo®p1y with, and abide by each and every the ~tioas, agreements, oonditioat, and covenant of said prose-
~ issory note and of tL~ deed, then the estate hereby created shaII Deese and 6e null and void. '
AND the Mortgagor does hereby covenant and agree:
~ 1. To pay all and s;nguLr the principal and interest and other sum: d monry payable by virtue d said promissory note and this mort-
gage, ar either, Promptly on the days respectively, the same severally Dome due.
2. To pay all and singular the fazes, assessments, levies, liabilities, obligations and encumbrances d every nature on said described Pr'o'p-
erty each and every when due and payable according to w, before they become delinquent, and if the same shall not be P~PdY P~
the Mortgagce may at any time either before or after delinquency pay the souse witdwut 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 equrprnent and personal prope notiv or hereafter oo said premises, covered by this mortgage, insured
in a sum at least equal to the unpaid balance d this mortgage. includiyng fi'ry flood, extended oaveragggv~andalism, malicious mischief, and
any other coverage required by the mortgagee, as to properties other than dweIIinp and fire, flood, extended coverage. special-form other-perils
insurance, and any other coverage required by the mortagce, on dwellings eligs ~e for such broadened coverage -Provided, however, lbat
such insurance be in an amount sufficient to oom_
ply with soy eo-insurance requirement covering same under the laws of the State d Fbrida,
i and provided 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 pollcy or policies shall be held by the I?fortgagce and shall bear a standard New York Mortgagee Clause without contribu- i
tion, maliceg the loss under said policies pa ble to the Mortgagce as ib interest may appear; and in the event any sum d becomes
payable under any such policy or policies, the d?fortgagee shall have the option to receive and apply the same ao aocormt of theebtednesa
hereby secured, or to permit the Mortgaggor to receive and use it, or any part thereof, for other purposes, without thereby waiving or impair-
r ing a~ equity, lien, or right ender and liy virtue d this mortgage; and in the event the Mortgagor does not c+om with this covenant, the
I<fortgagce may pl~aee and paY for such insurance, ar any part thereof, without waiving or affectingg the option to fwedase, or any right here-
under, and the full amount d each and every such payment shall Ire immediately due and~ayable, and shall bear interest from the date
thereof until paid at the dealult rate provided in said note and together with such ipten'st shall be secured ~y the lkn of this mortgage. Iasur-
once ooverin the peril d flood damage shaD be as regdred by the Federal Disaster Protection Act of 1973, or as amended, and mortgagor i
covenant a~ agrees to comply in aD respect with the provision thereof. .
4. That mortgagce may, at any time during the mortgage term, and io its disexetion, apply for renewal of guaranty insuanoe
covering the wortgage executed by the undersig<aed on even date herewith, paY the premium due by reason thereof, amend regain repayment
by the undersigned d such amount as ate advanced by acid mort¢aaee. in the event of failure fry thr unriersittned to repay said amounts to
l said mortgagce, such failure :hall be oonidered a default, and aII provasaons d the note and mortgage with regard to defan)t shaIl be app11-
~ cable.
5. To permit, commit or saffer m waste, impairment or deterioration d said property. or a>ay Part thercd. and apoo the fadure d the
i mortgagor to keep the buildings oo said property is good condition of repair the Mortgagee may demand the Immediate repair d aid build-
in~, or an irrrraise in the amount d security, or the immediater~a ymens d tie debt hereby secured and the failure d the Mortgagor to com-
ply with said demand d the Mortgagee [or a period d thirty (30) shall oontitnte a breach d this wortgage and, at the option d the ~
Mortgagee. immediately mature the eattro amount d prindpal anndd interest hereby secnrod, and irnmediatedy and wit~ont notice, the Mortgagee l
may instidrbe proceedings to forecbse thfs mortga®e sad apply for the appointrorAt aE a Reodver, as 6erdoafter provided.
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