HomeMy WebLinkAbout0389 TO HAVE AND TO HOLD the same, together with the tenement. hereditamrab and a~ Hato ibe Mortgagee. in fee dmpb.
AND the Mortgagor does hereby covenant with the Mortgagee that he b inrlefeasi seized of said land in fee simpiq, that be bore
full power and lawful right to convey said land is fee simpb n aforesaid; that it shall 1 Lwful for the MortKaKee at all tinrea pr~ueat?ly
ar?ri quietly to cola upua~ hold, occupy and copy said lard; that said land b free from all irrcun?brances; that he will make suc4 furtl?er
assurarx~es to protect the foe simple title to acid land in the Mortgagee as max reasaubly be ratuirai; that he door hereby fully warrant '
the title to said land and will defend the same against the lawful clairr>: of sU pessaot wbaiosoever.
PROVIDED, ALWAYS, that if tbs Mortgagor :hall py trato the Mortgages the certain praavtssory Hots at whkh tbs folbwinZ m i
words and figures i. a taus Dopy. 1o-wit:
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CODiMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PALM BEACHES
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RIVIERA BEACH, FLORIDA October L3 1980 4
• Being indebted, for value received, the nnderaigaed f
ointly and severally promise to pay to COMMUNTIY FEDERAL SAV-
INGS AND LOAN ASSOCIATION OF THE PALM BEACHES at it of8oe in the City of Rtviera Beach, Florida, or order, the sum
of SIXTY THREE THOUSAND SEVEN HUNDRED AND NO/lOOths---------- DOLLARS (i 63,700.00 j
together with interest thereon as hereinaher stated in monthly instaDmenb of NINE HUNDRED NINETY TWO AND
84/100ths-----------------------~~~~------------ DOLLARS (i 992.84
The first iastaD,meM :ban be due and pyabb an the 10th day of November 19 80 ~
and subsequent inttaDmenb ahaD be due and payable on the 10th day of each and every calendar month thereafter ~
October 10, 1985, on which day the entire principal
bale ce remainin 1 iraterest shall be du and payable in foil .
er sums may~ppaid at anp tlnne„ but the payment oi~aay such larger sus in addition to the payments herein re-
gnired she not relieve the makers of the payment of We monthly instaWnents herein provided for, unless it is specifically stipu-
lated by the makers at the time of payment that such larger sums arc to be applied to the advance payment of the monthly install-
ments next matunng m 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. I
Ibis obligation shall bear interest from date at the rate of thirteen------------- ~ ~t ( 13.00 ~D.)
per annum until the principal and interest are- fully paid. j
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Interest for each calendar month span be aocrrred on the first day of said month and be computed on the unpaid balance
of principal and interest esisling on the last day of the pnaceding month. This note shall be considered in default when anY paY-
meat inquired 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 default, this note shall bear interest ac the rate of • eighteen-------------- ~ ~
18.00 'r") l~ annum in lieu ~ the rate liereiabefore 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 door
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M makers and endorsers now or hereafter. parties hereto faintly and severally wave demand, notice of non- ;
payment and protest, and agree that in the event of defa tin the payment of installment due hereunder for a period of
thirty (30) days the whole of said indebtedness shall thereupon at the option of the haWer. become immediately due and paY-
able, and if this note becomes in default and is placed in the hands of an attorney for collection, to pay reasonable attorney's fees
and all-other coats including coat and attorneys fees of Appellate Corot Proceedings for making such collection.
This note may be prepaid in whole or in part at any time without penalty. i
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s/Linda H. Davis tea, s/James N. Davis. III ___.(S~,)
Linda li. Davis James N. Davis, III
r~?r) - ----_._--(SEAL) -
f of
the Palm Beaches) ~ a nwrtgage of even date ese~vted by the makers in hvar of Community Federal Savings end Loan Asses.
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and.shorn pram~]y pe~{onn, comply with, and abide by each and every the flocs, agreements, ooodition:, and ooveaants of said prom-
issory note and of t7us' deed, then the esbte hereby created shall cease sod WI and void.
AND the Mortgagor does hereby oaveaant and agree:
1. To pay an -and singular the principal and interest and other sums of money payable by virtue of said promissoq? note and this mort•
gage, or either, promptly oa the days respectively, the same severally came due.
2. To pay all and singular the tares, a.~asmeats, levies, liabilities, obligations and eaeumbrarroes of every nature oa said described prop-
erty each and every when due and payable aeoording to taw, before they become delinquent, and if the same shall Dot be promptly paid
the Mortgagee may at any time either before or after delinquency pay the same without waiving of 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 io said promissory note.
3. To keep the bnikluagt and an equiraent and personal rrooppee ~w or hereafter on said premises, covered by this mortgage, iruured
in a sum at least equal to the unpaid balance of this mortgage, pincludi~ng yam, flood. ertended Dove vandalism, malicioru mischief, and
any other coverage required by the mortgagee, as to properties other than dvrd(ings, and fire, flood, e~ed coverage, specialform other-perib
insurance. and any other coverage required by the mortagee, on dwellings eligible for such broadened cavernge -provided, however, that
such insurance be in an amormt sufficient to oo~_
1y with any oo-iasurance regrriremenb eaverinpc same under the laws of the State of Fbrida,
~ and provided further that the policy or policies shall be written in a company or companies and through an agency satisfactory to the Mort-
gagee and that said policy or policks shall be bekl by the Mortgagee and :ball bear a standard New Yor1r Mortgagee Clause without contribu-
lion, making the lass under said policies payable to the Mortgagee as ib interest may appear-, and in the event a~? sum of Bey becomes
payabb under air such policy or policies, the Mortgagee shall have the option to receive and apply the same m aoowM of them todebtedness
hereby secured, or to penvit the Mort~gar to receive sad rue it, or a part thereof, for other purposes. without thereby waivhrg or impair-
ing say equity. lien, or right render and by virtue of this mortgage; an~in the aveat the Mortgages door not comply with thb t, the
Mortgagee may pha~ee and pay for anc6 irwuanoe, or any part thereof, without waiving or ec~~g ~the option to wedose, or any ri hen+-
under, and the fall amount of each and every sorb payment shall be immediately doe andaD rim. sad Shan bear merest from the date
thereof until paid at the default rate provided io said note and together with such interest shall be sectiued by the lies of this mor~age. Iasur-
once oaveriag the perQ of flood damage than be as required by the Federal Disaster Proterotion Act of. 1973, ar ss amended, sad z.artgagor
ooveaant Dad agrees to Damply m all respect with the provisions thereof. '
4. That mortgagee may, at a~? time during the mortgage term, and fo its dissTetioa, apply for reoewd of guaranty hstauanos s
covering the mortgage executed by the undersigned on even date berew?ith, ppaay the premium doe ~~yy,, reasao the~r+eof, sad requiro repayment i
by the undersigned of such aarounts m are advanced by said mortgagee. In the event of failure by t5e nndersippoed to repay said amounts to
said mortgagee, such failure span be oomidered a dehult, and an pmvisioas of the note sad mortgage with regard to default shah be apply
cable.
S. To permit, commit or suffer »o wash implrmeot or deterioration of said property. ar any pct thereof. and upon the failure of the
mortgagor to keep the building oo said property m good ooodition of repair the ortga may demand tbe.inomediate repair of acid build-
ings. or an increase io the amount of sorority, or the imaredLte rep~ymeat of t~e debt hereby aecrrred and the failure of the Mortgagor to com-
ply with saW demand of the Mortgagee for a period of thirty (30~ days, :born oomtitate a breach of this martgage,~ sad, at the option of the
` Mortgagee, immediately matwe the entire amount of prindpal and interest hereby secured, and imaredlately sad arithorrt notice, tLe Mortgagee
i may imtitme proceedings to faee3oas thb mortgage and apply for the appoi~meat of a Re~oeiv~er. as 6ereioaft~r prwided..
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