HomeMy WebLinkAbout0490 TO NAVE AND TO HOLD the agate, together with the tenaatenb, 6eredifaments and appurtenances, onto the Matcagee, in fcr simple.
AND the 1?lortgagor does hereby covenant with the Mortgagee that he b iaclefrasil~ly wised of :aid lard in fes aimpls, that he has
full power and lawful right to convey staid I:rrx! in fee simple as aforesaid; that it shall be lawful (or the Mortgagee at all tunes p~.aceably
aril r ulrtl to enter upc,a~ hold, occu y ad enpy said larxl; that said larxl is free from tU irxtirmbrar?crs; drat he will nrako such further
assunirrces to protect the fee airopb title to said Iand to the Mort~eaKee-ace raa~! reasonably be ratuiral; that he dos hereby fully warrant
rho title to aid laud and-gill deferxl the same against the lawful claims of aD persona whormoevor,
PROVIDED, ALWAYS. that if the ldaatgagor :hall pity auto the Mortgages the oeataln promissa~y Hots of vhlch tbs fo0owlog fs
words tad figures b • true otpy. to-wltt
COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PALM BEACHES
~IIL'~~tI~C ~U~E
RIVIERA BEACH. FLORIDA September 16 19 80
Being indebted. for value received, the undersigned saintly and severally prarniSe to pay to COMMUNITY FEDERAL SAV-
INCS AND LOAN ASSOCIATION OF THE PALM BEACHES at its office In the City of Riviera Beach. Fbuida, or order. the sum
of EIGHTY TWO THOUSAND FIVE HUNDRED AND NO HUNDREDTHS-------- (=82,500.00 )
together with interest thereon as hereinafter stated in monthly instaWnents ofNine Hundred Seventy Nine and
21/100-----------------------------------------------~~_ DOLLARS (i 979.21
-The fiat iastaUmeat shall be due and payable on the 10th day ~ November I8 80
and subsequent iastallnrents shall be due and payable oo the 10th day of each and every calendar month tlrerraftu
until ll?e principal and interest are fully -paid. -
L~arr~~er :ions may be paid at any time, but the payment of any such larger sums in addition to the payments herein re-
gntred slwD not relieve the makers of the payment o[ the monthly instaUmeots herein provided for. unless it is specifically stipu-
lated by the makers at the time of payment that such tar er sums are to be applirrl to the advance payment of the rnondrly install-
ments nest matunng in the order of their due dates. AI~ payments made upon this rase shall be applied first to the payment of
accnued interest and secondly upon the principal.
This obligation shall bear interest from dace at the rate of Thirteen and one/half-fir `Yrrt (13.50 )
per annum rmtil the principal and intent are fully paid.
Interest for each calendar month shall be accrued oa the first day of said month and be computed on the unpaid balance
of principal and interest eiLctinR on the last day of the preceding month. This note shall be considered in default when any pay-
meat required to be made 6ercunder shall not have been made by its due date and shall remain in default until said payment shall
Gave been made. While in default, this note shall bear interest at the rate of --Ei hteen Pes ant
s 18 `X') Pes annum in lieu of the rate hereinbefore specified and holder Boringg 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. .
AU makers and endorsers now or hereafter polies hereto jointly and severally waive demand, notice - of non-
payment and protest, and agree that in the event of defy tin the paymer?t of say installment due hereunder for a period of
thirty (30) days the whole of said indebtedness shall thereupm at the option of the bolder, berorne immediately due and pay-
able, and if this note becomes in default and is p)aeed in the hands of an attorney for collection, to pay reasonable attorney's fees
and all other cosh including coats and attorneys fees of Appellate Coact Proceedings for making such collection.
This note may be prepaid to whole or in pare at any time without penalty.
S/Salvatore Patti rcTr~?r~ - (SEAL)
Salvatore Patti -
S/Cecelia Patti (SSW
ce a Patti
(This rxrte is secured by a mortgage of even date e:etarbed by the makers in favor of Community Federal Savings and Loan Assn.
I of the Palm Beaches) .
and shall pram~y ~[orm, comply with, and abide by each and every the ~tioos, agreements. conditions, and covenants of said prom-
issory note and of tLis deed, then the estate hereby created shall cease and 6e null and voW.
AND the Mortgagor does hereby covenant and agree:
1. To pay all and singular the prirxipal and interest and other soma of money payable by virtue 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 lases, assessments, kv~ babilities, obligations and ennunbrances of every nature on said described prop-
erty each and every when due and payable according to law, before they become delinquent, 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 fran the date thereof at the rate provided in said promissory note.
3. To keep the buildings and all eq ~Pment-and Pad Property or hereafter an said premises, covered by this mortgage, irurrred
in a sum at Icast equal to the unpaid balance of this mortgage, including f~, flood, erteaded coverage vandalism, malicious mischief, arxf
any-other rnveraKc rcgmred by tyre mortpagec, as to properties other than dweWn~s, and fire, flood, e:terrr~ed coverage, special-form other-perils
insurance, and any other coverage required by the mortagce, on dwellings eligible for such broadened coverage -provided, however, dwt
such insurance be in au amount sufficient to rnmplY with any co-irrsurarrce.requirements covering same under the laws of the State of Florida,
and provided further drat lire policy or policies shall be written in a company or companies aril throupJr an agency satisfactory to the ~tort-
fiaGee aril that said policy or policies shall be held by the ?1loatyagce and shall bear a starxlard I~ew York ~torigagce Clarase without contribu-
tion, making the loss under said policies payable to the Mortaa}~ce as its interest may appear, and in the event any sum of money becomes
p-ryable under any such policy or politics, the ~fortgaitce shall have the option to receive and apply the same on account of the indebtedness
hereby secured, or to prmrit the ~iortgat;or to receive and use it, or any part thereof, for other purposes, without thereby waiving or impair-
ing any equity, lirKa, or right under and by virtue of this mortgage; and in the event the AfortRaQor does rat ~omPly with this covenant the
I?fortRai{ee may place and pay for such insurance, or any p:?rt thereof, without waiving or affecting the option to foreclose, a any right Mere- i
under, and the full amount of each and every such payment shall Fre immediately due and payable, and shall bear interest from the date
d?ereaf until paid at the default rate provided in aid note and together.with such interest shall be secured by the Tien of this mortgage. Insur-
ance covering the peril of flood damage shall be as required by the Federal Disaster Protection Act of 1873, or as amwded, and mortgagor
oovemots and agrees to comply in all respect with the provisions thereof.
4. That mortAagce may. at any time daring the mortgage term, and io its disrretioo, apply for renewal of ge guaanty insurance .
covering the mort ge executed by the undersigned on even date herewith, pay the premium due by reason thereof. and reywre repayment
by the undersiof such amo+mts as are advanced by said mort¢aete. in the event of failure hY tlrr onrlPrsi¢rred to repay said anxrunts to
said mortgagee, such failure shall be ooasidered a default, and all provisions of the note and mortgage with regard to defauh shall be appll-
cabk.
5. To permit, commit or suffer m waste. impairment or deterioration of said property. or any part thereof. and trpoo the failure of the
mortgagor to keep the buildings on said property is good ooodition of repair the Mortgagee may demand the immediate repttr of said build-
. sags, or ao increase iA the amount of security, or the immediate ym~ot of t~e debt berrby secured and thb failure of the Mortgagor to eom-
ply with aid demand of the Mortgagee 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 amount of principal a~interest hereby secured, and immediately and wit~rout notice. the I?fortgages 3
may Institute proceedings to foreclwe that mortga®e and apply for the appeintmeat of a Reoefver, a berdnafter provded.
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