HomeMy WebLinkAbout1220 TO HAVE AND TO HOLD the same. together with the teae:aenb, bereditamenb and appurteaancea, unto the Mortgagee, is foe simple.
A\D the Mortgagor does hereby covenant with the Mortgagee drat he is loclefrasihly seized of said land in fee simple, that he has
hrU power and lawful riy;ht to Garvey said larxl in fee siwpk as aforesaid; that it shall be lawful for t}rc I?iortKai;re st all tines ppe~aceably
and quietly to enter upon hold, occupy and enpy saki land; that said land is fees from aU incnmhrarrces; that hN will make sucb. further
assururrces to protect the [ee simple o'tb to said land in the Mortgagee as mad! reasorwbly be nytuirc~d; flat be does hereby fully warrant
the tick to said hu>el and will deiced the sauce agaiait the lawful clairro of all persons w6omaoever.
PROVIDED, ALWAYS, that H tbs Mortgagor :hall pay unto the Mortgagee the oerbin promissory note of which the fol{oarirt= m
words and figures d a true Dopy. Eo-wits
COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PALM BEACHES
L'~p`~~~E
RIVIERA BEACH, FLORIDA October 6 I9 80
Being indebted, for value received, the undersigned loiatly and severally promise to pay to COMMUNITY FEDERAL SAV-
INGS AND LOAN ASSOCIATION OF THE PALM BEACHES at ib office in the City of Riviera Beach, Florida, or order, the sum
~ TAIRTY NINE THOUSAND TWO HUNDRED AND NO/100ths----------- 39,200.00 )
together with interest thereon as hereinafter stated in monthly installments of FOUR HUNDRED THIR THREE AND
64/100ths------------------------------------------------ DOLLARS~i 433.6 1e
The first imtallment shaD be due and payable oa the 10th of March 8l
and subsequent installments shall be due and payable on the 10th day of each and every calendar month theeea7ter
until the principal and interest are fitlly paid. Until the first payment above-Mentioned, interest
~ shall be due and payable monthly.
La er sums may be paki at time, but the yment of arty such larger sums in addition to the payments herein re-
r~ auy
~ quirod shall not relieve the makers of the payment of monthly installments herein provided for, unless it is specifically stipu-
i laced by the makers at the time of payment that such larger sums are to be applied to the advance payment of the marthly install-
ments next matunng in the order of their due dates. All payments made upon this note shall be applied first to the payment of
accrued interest arxi sernndly upon the principal.
This obligation shall bear interest from date at.the rate of per cent ( 13.00 ~ )
per annum until the principal aril interest are frrUy paid. thirteen-----------
! Interest for each calendar month shaD be aocnred on the first day of said month and be computed on the unpaid balance
of principa and interest existing on the last day of the preceding month. This note shaD be considered is default when any pay-
' went required to he 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 default, this note shall bear interest at the rate of eighteen--------- per cent ;
( 18.00 96) per annum in lieu of the rate hereiabeforo specified and holder during 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.
AD makers and eadorsera now or hereafter parties hereto jointly and severally waive demand, notice of non-
payment and protest, and agree that in the event of defa tin the ymeat ~ an installment due hereunder for a period of
i pa y
thirty (30) days the whole of said indebtedness shall thereupon at the option of the holder, become immediately due and pay-
able, and if this note becomes in default and is plaoad in the hands of an attorney for collection, to pay reasonable attorney's fees
i and all other costs including costs and attorneys fees of Appellate Court Proccedingi for making such collection.
'Ibis note may be prepaid in whole or in part at any time without penalty.
I ,
j s/James H. Curry (SEAL)
~ ames H. urry
k~
E
(SEAIa -81TT~h,~lma i.~.Gtt~LK----------------------------------(SEAL)
of
the Palm Beads) ~ a mortgage of eves date mecuted by the m3is8~~a~bt o~unity Federal Savingi and Loan Assn.
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and shall promptly perform, comply with, and abide by ach and every the stiprdatiom, agreements, oorditions, and covewnts of said prom-
issory note and ~ this deed, then the estate hereby crated shall cease and bbee null and void.
AND the Mortgagor does hereby covenant and agree:
1. To pay all and singular the principal and interest and other snms of money payable by virtue of said promissory note and this •mort-
gage, or either. P~PdY on the days respectively, the same severally Dome due.
2. To pay all and singular the tares, assessments, levies, liabilities, obligatkrm and enamrbranees 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
t},e 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 huiWing~ and all equipment and perwnal prq~*ty now or hereafter ao said premises, covered by this mortgage, insured
in a sum at least egos) to the unpaid balance ~ this mortgage, including fire, flood, eztended coverage vandalism, malicious mischief, and
any other coverage aired by the mortgagee, as to properties other than dwellings, and fire, flood, extended coverage, special•fonn other-perils
insurance, and any other coverage required by the mortagee, on dvvelliagi eligible for such broadened coversge -Provided, however, that
such insurance be in an amount sufficient to "eomshall with any eo-instrranoe requirement covering same under the laws of the State of Fbrida,
and provided further that the policy or policies shall be written in s company or companies and through an agency satisfactory to the Mort-
gagee and that said policy or policies shall be heW by the I?tortgagee and shall bear a standard New York I1lortgagoe Clause without contrihu-
tion, malring the loss tinder said policies payable to the Mortgagee as ib interest may appear; and is the event any sum of money becomes
payable under any such policy or policies, the Mortgagee shall Gave the option to receive and apply the same on aooount of the indebtedness
hereby secured, or to permit the Mortgagor to receive and use it, or any part thereof, for other purposes. without thereby waiving or impair-
ing any equity, lien, or right under and by virtue of this mortgage; and in the went the Mortgagor does not compply with this covenant, the
Mortgagee may place and pay for such iasurarrce, or any part thereof, withont waiving or affecting the option to foreclose, or say right here-
under, and the full amount of each anti every snch payment shall be immediately dne and payable, and'shall bear interest from the date
then9of until paid at the default rate provided in said note and together with sucb interest shall be secured by the lien of this mostgsge. Iasur-
ance covering the peril of flood damage shall be as required by the Federal Dix Proter~im Act of 1 3, or as amended, and mortgagor
covenants and agrees to Damply in all respects with the provLttoos thereof.
4. That mortgagee may, at any time during the mortgage term, and in its discretion, apply for renewal of guaranty fatunnoe
covering the mortgage executed by the undersigned on even date herewith, pay the premium due by reasar thereof, and regwre repayment
by the undersigned of such amrnmts as are advarrcecl by said rrrortftaYee. In the event of failure by th' unciersianexl to repay said arrMUnts to "
said mortgagee, such failure shall be considered a default, and all provisions of the note and mortgage with regard to default shall be applI-
cable.
5. To permit, commit or suffer m waste, impairnaent or deterioratkrn of said property. or any Part thereof. and npoo the failure of the "
mortgagor to keep the buildings oo sale! property in good condition of repair the Mortgagee may demand the immediate repair of said lwild-
ings, or ao increase in the amcwnt of security. or the imrnedute ymeat of tie debt hereby secvrecl and the failure of the Mortgagor to com-
ply with said demand of the Mortgagee for a period of thirty (30~day+, shall oomtitnte a breach of this wortgage. sod, at the option of the
Mortgagee, immediately rnatnre the entire amount of priadpal and interest hereby secured, and immediately ind without rrotioe, the Mortgagee
may imtitute prooeedingi to foreclae thb mortgage and apply far the appoirnment of a Reodver, as hereinafter provided.
80~~ P~~~
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