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Home My WebLink About1575 • ~ . i t ~ TO HAVE AND TO HOLD the same, togetlror with the tenements, hereditaments and appurtenances, ulnro the Mortgegee, in fee simple. AND the Mortgagor does hereby covenant with the Mortgagee that he is inckfeasibly seized of said land in fee simple, that he has full power and lawful right to convey said land in fee simple as aforesaid; that it shall be lawful for the Mortgagee at all times peaceably and quietly to enter upon, hold, occupy and enjoy said land; that said land is freer from all incumbrarlces; that hs will make such further assurances to protect the fee simple title to said land in the Mortgagee as may reasonably be required; that he does hereby fully warrant the title to said land and will defend the same against the lawful claims of all persons whomsoever. - PROVIDED, ALWAYS, that if-the Mortgagor shall pay unto the Mortgagee the certain promissory note of which the following in words and figures is a true copy, to•wit: A TRUE COPY OF THE PROMISSORY NOTE IS ATTACHED HERETO. ` FIRST MARINE BANK AND TRUST COMPANY OP THE PALM BEACHES °~tta~ _ ,FLORIDA 19 6eirrg indebted, valor received, rM undersigned jointly and severally promise ro pay ro fIRST MARINE BANK AND TRUST COMPANY OF THE PRIM REACHES at its office ~ tM Gty of _ , fbrida, u order, tM sum of OOUARS ) together with interest thereon as heri re. sUted in morsthly insta{IrtsarMS of DOUARS TM Rot Msstaliment sMll ba dw and payable on tM d.y of 19 and subaagtrem installrnartri shag be due and payable on the day of each and evertr cakrdar month theresiter until principal and interest are fully pail. Loper sums may be paid at any time, but tM W of any such luger sums addition ro ?M payments herein requ'aed shall not relieve tlsa makers of tlse payment of tM montMy installments herein pr for, unless it is ifiully stipulated by the makers at the time of payment tMt such lugs sums a» ro be applied ro tM advance payment of tM moot installments, xt maturing in the order of thci. due dates. All payments made capon this ooh sMll be applied fast ro Ilse payment of accrued interest and d tM principal. This oblpatan sMll bear interest from dah at the rah of PK cant ( PN arstsunr until the principal and interest are fully paid. Interest fa each ulenda? month shall be accrued on t int day of said th and be computed on the unpaid balance of principal and irs• retest existirsg on tM last day of tM preceding month- This shall be considered in fault when any payment required to be made hereunder shall rat haw been made by iri due da» and sMll remain in de k until said payment sM1I M been made. Whik in defauh, this note sMll bear interest at tlss rah of per sent per annum in liw f tlr rare herainbefue specified, All makers and endorsers now u Mre becoming pui,as herero jointly and sawrally 'w demand, notice of nonpayment and protest, and agree that in tM corm of default in tM ment of any insrallmenr due Mreursder for • period of (30y days rM wftole of said indebtedness shall thereupon at tM option of tM holder, bee immediately dw and payable, and if this rro» becomes in It and is placed in the hands of an attor- ney (or collection, ro pay reasonable a rsey's fees and all other oosri including costs and attorneys fees o '.late Court fkoceedirsgs for, making suds collection. ~ This note may be pr in ryhoN or in part at any time witlwsA penahy_ , (SEAL) _ t - _ _ _ _ - _ _ _ REAq i I (SEALt i E i t E i (This no» is secured by a mortgage of corn da» execu?ed by tM makers in favor of First Marine Sank and Trust Company of the Palm beaches) i and shall promptly perform, comply with, arld abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this deed, then the estate hereby created shall cease and be null and void. AND the Mortgagor does hereby covenant and agree: 1. To pay afl and sirsqular tM pincipal and inNrest and other sums d money parable by virtue of said promissory note and this mortgage, u either, punptlY rn tM days respecriwh. tM same severally coot dw. i to pay all and s,ngvtar the rues, assessments, tev,es, hab~t,r,es, obLgat,ons and .ncumWanres o{ .very nature on saw aescnbed pOperry exA and every ..hen due and payable xcord,nq ro law, Deiore They bee rsme dehnovMr, ar,d rl the same sMll nor be o+a++prly pa,d the Nwrrgagee mar err any nme artier before she. dehngc,encr wy the same w,rhovr ws,v,nq a aHecr,nq the opr,on ro Iweclose, or am nqM hereunder, and every payment so made shall beer. mteretr Iron •~e da•e thereof err the tart povided ,n sa,d Gromssory none 3. To keep the buildings and all lquipmem and personal property now or hereafter on said premises, coverod 6y the mortgage, insured in a sum at least equal ro the unpaid balance of the mortgage, including fire, flood, eatended coverage, vandalism, maLcious mischief, and any ocher coverage requ,re y _ mortgagee, as M properties other than dwellings, and foe, flood, estended coverage, special-form other-pcnls mscrance, and any other coverage required by tM mortgagee, on dwellings eligible fu such broadened coverage - provided, however, rMr such insurance be in an amovm sufficient ro comply with any co- ti inwrsrKe requirements cownrsg same under nc~ laws of tM Stare of Fluids, and provided further that ?he policy or policies shall be w:itren in a company u companies sod through an a9e^cY satidactuy to the Mortgagee and that said Policy u policies shall be held by the Mortgagee and shat) bear a standard New p' Yak Mortgagee Clause witfwvt contriburipn, making tM loss under said policies payebte tc rM Mortgagee as rrs inreresr may appear; and in. the event any wm ~ of moletr becomes payable under soy such policy or policies, rM Mwrgsgt! shalt have tM option ro receive and apply tM same on account of the indebtedness 2 hereby secured, u to permit rM Mortgagor to receive and use ir, or any part thereof, fu other purposes, without thereby waiving u ,mpa~ring any egwry, lien, 'i ~ o- right under and by virtue of this mu?gage; and in the event rM Murgagor does not comply w~rh This covenant, the Mortgagee may plxe and pay lor such ~ insurante, w any part thereof, without waiving u affecKnq the option to foreclose, u any nghr hereunder, and the full amours of each and every such payment _ n shall be immediately due and payable, and shall bear interar from the dare thereof until paid at the rate wov:ded in said yore sod together w~rh such interest } shall be secured by rM lien of this mortgage. Insurance covenng rM peril of flood damage shall be as required by the federal D,sssrer Protecr,on Acr of 1973, agrees ro comply rn all respects with the provisions thereof. }mow or as amended, and matgagu covenants and ~ That murgagee may, of any tame during rM mortgage term, and in its discretion, apply fu renewal of mortgage guaranty mwrance covering the l`/•l/`/~/' mortgage asecured by the undersigned on even da» hpewirh, pay tM premiums due by reason r:xrtof, and require repayment by the urrdlrsignird of rush ~ ( ~ amounts as are advanced by said mortgagee. In the evert of failure by tM undersigned to repay said amounts ro said mutgsgee, such failure sMll be coe• T ~ sidered a default, and ati prons.ons of rht note and mortgage with regard to default shall be apphuble. l~~ S. To permit, commit or suffer rio siassi, irtt0akrrleefl ,gr dithrioration d said pepMty, u am put ther~iof, e~,uoon sM failure of tM mortgagor » keep tM ~ , builQrlrgf On said property in good <OI10irion Of repair, M{e ~Morrgagee may dMnand tM irrrnediNe repair of said buiWrngs, or an increase in 11re amount 01 security, Or 1 tM immedia» repeYmeM of 1M debt hereby secured and tM 4ihrre of the Mortgagor to comply with said demand of tM Mortgagee fa • period of thirty (>a fl - days, shall eonsrieu» a beach of this mortgage, and, err tM option o! tlse Mutgaga+, irnrnediahh matwe tM entire amours of principal and inreresr Mnby d, a,d •i,sr•'r ••+d w:rhpyl notice, the Mortgtigee met Metiru» proeeodings ro foreclose Mis mortgage and apph fu the appoinrr.+enr of • R•cavr, as Frs -s^r - - i