HomeMy WebLinkAbout0359 TO HAVE AND TO HOLD the :erne, Mtictbes with the tenement, bereditaaaenb sod appnrteaaooes. mto the Mortgagee, in frti+ simpM.
AND the Mortgagor does hereby ooveoant with the Mortgagee that be b tadefeasi seized of said land in fee simple. that 6e hu
full power and lawful right to cawey said land m fee simple as aforesaid: that it shall be~wful for the I?fortgagee at all tiures peaoeahly
and quietly to enter upoa~ hold, occupy and enpy said land: that said laud is free from all iacrmrbrarwes; that be will make :uch further
assurances to protect the fee simple a'tle to said laml in the Mortgagee as rna reasonably be required; that be doe hereby fully warrant
the title to said lead and will defend the sane against the lawful clatau of s~ persons whoaosoever.
PROVIDED, ALWAYS, that if tbs Mortgagor ahaD pay unto tbs Mortgages the certain promissory hots of whkh the foUorrlag 6a
words cad figures b a trtss Dopy. to-wit:
C011iMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PALM BEACHES
~~Q
AMEBA BEACH. FLORIDA June 30 19 80
Being indebted, for value received, the undersigned f
oinntly and severally promise to pay to COMMUIJITY FEDERAL SAY-
INGS AND LOAN ASSOCIATION OF THE PALM BEACHES at its office in the City of RivIen Beach, Fkuida, or order, the sum
of SEVENTY SEVBN THOUSAND THREE HUNDRED AND NO/100ths-------- DOLLARS (7,300.00 )
together with interest thereon as hereinafter elated in monthly instaWneat of NINE HUNDRED TWO AND 86/100ths
- DOLLARS(i 902.86
The first it shaD be due and payable on the 10th day of_ August 19 80
and subsequent installments shall be duo and payable on the 10th day of each and every calendar month thereafter
until the principal and interest am fully paid.
er snms may be paid at time, bat the payment of say such 1a*torr sums in addition to the payments herein re-
gained not relieve the makers of~ payment of the monthly installments herein provided for, unless it is specifically stipu-
j fated 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 neat mstunng rn the order of their due dates. All payments made upon this note shall be applied first to the payment of
accrued interest and secondly upon the principal.
quarters
This obligation shall bear interest from date at the rate of thirteen and three/ Per cent ( 13.75 96 )
per annum until the principal and interest are fully paid.
~ Interest for each calendar month shall be accrued on 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 wnsidered in defaWt when any pay-
ment required 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 defaWt, this note shall hear interest at the rate of e3 hteen--------- per. cent
( 18.00 96) per annum in lieu of the rate hereinbefore specified and holder during default may at its option refuse to
aooept payment of any sum less than the total amount then due or declared hereunder to be due.
AIl makers and endorsers now or hereafter parties hereto fointly and severally waive demand, notice of ran-
' payment and protest, and agree that in the event of is the payment of a~+ iastsllment due hereunder for a period of
thirty (30) days the whole of said indebtedness shaII thereupon at the option of the holder, become immediately due and paY-
abk, and if this note becomes in defauh and is placed in the hands of an attonxy for collection, to pay nwsonabk atton~ey's fees
and all other costs including costs and attorneys fees of Appellate Court Proceedings for making wch collection.
This note may be prepaid in whole or in part at air time without penalty.
tcFUr i s~Reaato-.-R~Q1~ -(SEAL)
Renato R. Alcalde
(SF,Aw g/ALraxsol A _ Al r•al dp ______(SEAL)
i MM{{,,.. A~ ~~.a~ ~p
the Palm Beaches) ~ a mortgage of even date emecated by the"ii~7t~~faVllr amity Federal Savings and Loan Assn.
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and shall promp~y perf comply with, and abide by each and every the Dos, agroements, conditions, and eovwanb of said prom-
issory note and of tLrs' deed, then the estate hereby created shall cease anduD cad vdd.
AND the Mortgagor does hereby caveaant and agree:
~ 1. To pay all and singrdar the principal and interest and other same of money payable by virtra of said promissory note and this mort-
gage, or either, promptly oo the days respectively, the same severally Dome due.
2. To pay all and singular the fazes, assessments, kvie~ liabilities, obligations and eocrrmbrances of every nature or, said described prop- .
erty each and every when due and payable according to law, before they became delingneat, and if the same shall not be promptly paid
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 sod aD equipment and personal prrooppeer~~cy now or hereaher m said premises, covered by this mortgage iasur'ed
in a sum at least equal to the- unpaid balance of this mortgage, indnding fires flood, e:teaded coverage vandalism, malicious mischief, and
any other coverage required by the mortgagee, as to properties other than dwellings, and fire, food, e:tead'ed coverage. special-form other-perils
insurance, and any other coverage required by the nsortagee, on dwellings eligible for such hroadeaed coverage provided, however, that
such insurance be in an amaurt sufficient to comply with any co-insurance regairaments covering same under the laws of the State of Florida,
t and provided further that the policy or policies shall be written in a company or oompaniea and through an agency satisfactory to the Mort-
' gages and that said polic~+ or pdicies shall be held by the I?tortgagee and shall bear a standard New York Mortgagee G7suse without oontribu-
lino, making the lass uundder said policies payable to the Mortgagee as its interest may appear: and in the event a~ sum of money becomes
payable under any such policy or policies, the Mortgagee shaD have the option bo receive and apply the same on aooamt oaf t indebtedness
` hereby secured, or to permit the Mortgaggor to receive and use it, or any part thereof. for other purposes, without thereby waiving or impair-
E ing any equity, lien, or ri ht under and !iy virtue d this nartgage• end in the event the Mortgagor does not campplY with this covenant, the
Mortgagee may pl~a~ce an~ pay for such insuraoc.~e, or any part thereof. without waiving a offe~ang the option to f~redose, or any fight bore-
under, and the full amount of each and every such payment shall be immediately fine and payable, and shall bear interest from the date ~
~ thereof nntil paid at the default rate provided in said note and together with such interest shell be secured by the lien of slit: mortgage. Insur-
arrce coveria$ the peril of flood damage shall be as required by the Federal Disaster Protection Ad of 1ff9713, or as amended, and mortgagor
e eoveaant: and agrees to comply is aD respects with the provision thereof.
~ 4. That mortgagee may. at a>ry time during the mortgage term. and in its discrotion, apply for seoev?al of gs~s gwranty fnruanos
coverfog the cart ge e:ecrrted by the undersigned oo even date herewith, pay the premiom due by reason th~reof, and require repayment
by the undersiof arch amrnrnts m err advanced by said mort¢atzee. In the event of faihrre by the undersigned to repay said amorrntc to d
~kmortgagee, ;<rch failure shall be ooasiden~d a default, cad aD pmvisbns of the note and mortgage with r+egar~d to default shaIl be apply-
5. To permit, commit or sadfer m waste, impairment or deberioratioo of said p~op~y. or say part thereof. and npoo the faihrre of the
mortgagor to keep the buildings oa said property is good ooodition of repair the Mortga may demand the immediate repair of said build-
ings, or an inererrse in the amount of security, or the immedLte ya~ens of t~e debt secured and the Iailure of the Mortgagor to com-
pfy with said demand of the Mortgagee for a period d thirty (3l! days, shall eoostitate a of this mortgage cod, at the option of the
Mortgagee, immediately mature the satire account of priardpa! sinterat hereby secured, and immediatdy and wlt~out notice, the Mortgagee
may ifmditute proceedings to faedae this mortgage and apply for the appototmeat of a Reeeiverra~se~hee~einaEtsr prarided.
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