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Home My WebLink About1196 TO HAVE AND TO HOLD the sauna. together with the tonemenb. heroditamenb and apparteatooes. onto the Mortgagee, iA ice simple. ' ' AND the Iltortttagor does hereby covenant with the Mortgagcr that he is indcfeasiblZ? seized of said land io fes dmple~ that fie bas full power aril lawful right to convey said land is fee simpb as aforesaid; that it shall be wlul for the Mortgagee at aD times peaceal,ly and yuretly to enter upon, bold, o~ruppyy aril enpy said laud; ttrat said lard is free from all inaunhrances; that he will mako such further assurarxes to Qrotect the fee simple b'tb to said lard in the Mort~tee as ma reawrrabty be required; that be does hereby fully wramnt the title to sail lead and will defend the same against the lawful claims of ~ porsoos wboamoever. PROVIDED. ALWAYS. that ff tbs Mortgagor shall pay unto the Mortgages tbs osrbin praatssory cots d which tbs ~ollawios m r*'~ ~ figures ~ • tree SBB SCHBDULE A ATTACHED 11i111UNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PALM BEACH ~tt$Q RMERA BEACH, FLORIDA / 19 Being indebted, value received, the undersigned lolady and severally promise to pay to OOMM FEDERAL SAV- INGS AND LOAN ASS TION OF THE PALM BEACHES at ib office In the City of Riviera Bea Fbrida, or order, the sum ~ D~LAns (s ) together with interest thereon as er stated in monthly instalhnenb of DOLLARS The first iastalimeat :haII be due and ble oa the day of 19 and subsequent tasbllmcnts shall be due a payable on the day each cad every aldrdar nrant6 thereafter until the principal and interest are fully paid. I~rger snms may be paid at an ttuo. but yment of a~? ~ snms in addition to the. payments herein re- quired s6aA not relieve the makers of the payment of monthly irutap~~is bereia provided Ior, unless it is specifically stipu- lated by the makers at the time of payment that such lar r sums are tg~Ke applied to the advance payment of the monthly irutall- mcmts Went matunng m the order of their due dates. rats rp[de upon this note sluill be applied first to the payment of accrued interest and secondly upon the principal. j This obligation shall bear interest from date at the rat ~f per cent ( ;'6 ) per annum until the principal and interest are frilly paid. i Interest for each calendar month shall be accrued on the first da -said month aril be camputod on the unpaid balance of principal aril interest existing on the last day of tltcrprececling month. note shall be considered in defauh when any pay- ment required to be made hereunder shall not ha~p'been made by its due da and shall remain in default until said payment shall have been made. While in default, this rate sb:?71 bear interest at the rate of per cent ( 9fe) per annum in lieu of the~rate hereinbefom specified and during default may at its option refuse to aotxpt payment of any sum less than the ysfal amount then due or declared to be due. AD makers and endorsers raw~Lereafter parties hereto jointly and waive demand, notice of non- payment and protest, and ague thaym the event of defau t in the payment of nay due hereunder for a period of thirty (30) days the whole of sa~ indebtedness shag thereupon at the option of the holder, .immediately due and i~Y- abk, and if this note becomes itr default and is placed in the hands of an attorney for collection, o pay reasonable attorneys fees and all other nosh induding 4ests coil attorneys tees of Appellate Court Proceedings fa making collection. ' This note may be pepaid in whole or in part at any time without penalty. . rcrr_ai1 (SEAL) I ~a~ - -------(SEAL) (ibis note is secured by a mortgage of even date e>oeaited by the makers in hvor of Community Federal Savings cad Loan Asm. of the Palm Beaches ) and shall prom~]y ~{orm, comply with, and abide by each and every the tiosrs, agreearents, auditions, and covenants of said prom- issory note and of ibis deed, then the estate hereby created sbaD cease and fie null cad void. M`D the Mortgagor does hereby oo%aant and agree: 1. To pay all and singular the principal and interest aril other snms of moony payable by virtne d said promissory note and this wort- gotta, or either. promptly on the days respectively. the same severally Dome due. i 2. To pay all and singular the to:es, assasrnents, ]e~~e~, liabilities, obligations and encumbrances of Query nature on said described prop- i arty each and every whey due and payable according to Taw, before they become delinquent, and if the same shall not be prompilY P~ the Mortgagee may at any time either before or after delinquency pay the same without waiving or affecting the option to foreclose, or s any right hereunder, and every payment so made shall bear interest from the date thereof at the rate provided is said promissory note. 3. To keep the buildinp~ and all equipment and persa~al pr~o~perty now ~ hereafter ao said premises, covered by this mrntgage, insured in a sum at (cast equal to the unpaid balance of this mortgage, including fire, flood, extended coverage vandalism, malicious mischief, aril any other co~rraKe cared by the mortgagee, as to properties other than dwellings, and fire, flood. estenrtod coverage, special-form other-perils irurrrance, and any other coverage required_ by the mortagee, oo dwellings eligible for such broadened coversge -provided, however, that such insurance be in an amount suffictient to comply with any co-insurance requirements covering same order the laws of the State of Fbrida, and ,ro.,ided further that the policy or policies steal) be written in a company or companies and through an agency satisfactory to the ~tort- ~ gagee and that said policy or policies shall he held by the Mortga~Gee and shall bear a standard New York I1lortgagee Clause without contrihu- 1 lion, making the loss under said policies payahie to the Mortgagee as its interest may appear, and in the event any sum of moray becomes payable under any such policy or policies, the Mortgagee shall bare the option to receive aril apply the same oo accormt of the indebtedness S hereby secured, or to permit the Mortgaggor to receive and use it, or any part thereof, for other purposes, without thereby waiving or impair- ing any equity, lien, or nght under acrd by virtue of this uartgage; and in the event the Mortgagor does not comply with this covenant, the (Mortgagee may place and pay for such insurance, or any part thereof, without waiving or affecting the option to foreclose, or any right bere- under, and the frill amount of each and every such payment shall he immediately due and payable, and shaD bear interest from the date , thereof until paid at the default rate provided in said note and together with such interest shall be secured the lien of this wortgage. Incur- ' once coverin the peril of flood damage shall be as required by the Federal Disaster Protection Act of 1973, or v amended, cad mortgagoe covenants a~ agrees to comply is all aspects with the provisions thereof. 4. That mortgagee may, at coy time during the mortgage term, and io its discretion, apply for renewal of cowering the morty~age executed by the undeniipned ar even date herewith, pay the premium due by reason ~ ~a~ by the undersigned of such amrnmts as are advancrd by said mnrt¢aree. In the event of failure by t}re~ undkrsigned to repay said amounts to said mortgagee. such failure shall be ooasidered a default, and all provisions ~ the note cad mortgage with regard to default shall be appli- cable. 5. To permit, mrnmit or suffer m vraste, impairment or deteriontioo of saki pp~~ooppeerr~~yy. ar any part thereof, cad apa~tbe faihue of the mortgagor to keep the buildings ao said property in good ooodition of repair the Mortgagee may demand the immediate repair of said buiki- ings, or an increase in the amormt of security, or the immedliate yymmant of the debt hereby secured coil the failure of the Mortgagor to cum- ply with said demand of the Mortgagee for a period of thirty (30~adays, shall constitute a breach of this mortgages cad, at the option of the Mortgagee. immediately mature the entire amount of princppa) anndd interest hereby secured, coil imnrediatdy and without notice, the Mortgagee may ia:btote proceedings to fareclas this mortgage and apply for the appci~ment aE a Reodver, as herdoafter provided. Bo~~icch~ PsGE~~7V ,