HomeMy WebLinkAbout0811 TO HAVE AND 7~0 HOLD the :anm, together with the toaerner,ts, bereditameob and appnrteoances. rmto the MortKay;ee. in ter si,nplo.
AND tl,e MortQay;or dues hereby Covenant with the I?tortKaytre that he b irxllfKSil,ly seized oI said land in fee simple. that 6e kua
full power and lawful rgKht to convey said l:uni in fee sinrple as aforesaid; that i< siutU be wful for the I?torts;aKee at all tunes p~•auealdy
and quietly to enter uppoun, hr?kl, oa:up and en sales la,d; that said lard is Irer from all incumbranms, that he will u?ake such further
aacurar,ces to protect tt,e fee simple tie to saki larul W the Mortga ee as ma reasaurbly be requirai; that ha does hereby fully warrant
if,e dtk to said land and will defend tho sar„e agau?st the lawful c~aims d ~ persons wbosasoever.
PROVIDED, ALWAYS. that if the Mortgagor shall pay onto the Mortgagee the oertala promissory mots of which tbs followlns ties
wont and figures V a tens Dopy, to-wit:
COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PALM BEACHES
°r#~t~ge ~'a#e
RIVIERA BEACH, FLORIDA November 3 19 80
Being indebted, for value received. the undersigned ~ointly?and severally promise to pay to COl?lMUNITY FEDERAL SAV-
INGS AND LOAN ASSOCIATION OF THE PALM BEACHES at its dfioe in the City of Riviera Beach, Florida, or order, the sum
~ SIXTY EIGHT THOUSAND AND NO HUNDREDTHS-------~~~ 68.000. 00)
_ together with interest thereon a: hereinafter stated in monthly installments of EZ(,,H'j` HUNDRED FIVE AND -
72 100ths----- - (i
~ 805.72
I The first installment share >>e dues and payable on the 10th dy d April l9 81
and subsequent installments shall be due and payable on the 10th day of each and every alerdar month thereafter
j until the principal and interest are fully paid. Until the first payment above-mentioned, interest
shall rrbt a due an~pap~able ~on~hl
~ quiral shatter sums may at tame. rat the ppyment d an)? snc6 LrKer sums in addition to the payments herrin re-
pot relieve the makers d~ yment of tl,e monthly intallrr,ents heroin provided for, unless it is specifically stipu-
fated by the makers at the time d paymen~that such larger sums are to be applied to the advance paymer?t dthe monthly install-
~ menu neat mature-, ,n the order of their due dates. All payments made upon this note shaD be applied first to the payment of
accrued interest a~ sernndly upon the principal.
i
This obligation shall bear interest from dace at the rate of fourteen- - - - - - - - - - - per cent ( 14. 00 `A)
per annum until the principal and interrct are fully paid. <
Interest for each calendar month shall be aornrecl an the first day d said month and be computed on the unpaid balance ~
of principal and interest existing on the last day d the preceding month. This note shall be coruidered in default when any pay-
ment required to be made hereunder shall' not have been made by its dire date and shall remain in default until said payment shall
have been made. While in default, this rate shall bear interest at the rate deighteen- - - - - - - - - - - - - - per cent
( 18.0 per annum in lien d the rate hereinbefore specified and holder duringg default may at its option refuse to
accept payment d any sum less than the total amount then due or declared hereunder to be due.
~ All makes and endorsers now or hereafter parties hereto Iointly and severally waive demand, notice dnon-
payment and protest, and agree that in the event of defa tin the Qayment d nay installment due hereunder for a period of
il?irty (30) days the whole d said indebtedness shall thereupon at the option d tl,e 6oMer, become immediately due and paY-
~ able, and if this note becomes in default and is placed in the hands d an attorney for collection, to pay reasonable attorcey's fees
i and au other coats including coats and attorneys fees d Appellate Court Prooeed;a~ for making sncL eollection.
This note may be prepaid in whole or is part at any time without penalty.
e
fCRAiJ sr /Kpnnath - - (SEAL)
Kenneth C. Martens
l
~a~ _=1 Helen Martens _---(SEAL)
~ (This note is secured by a mortgage d even date enecnted by the maTcers ~n~av~e~ n t3 rmity Federal Savings and Loan Assn.
F ( d the Palm Beaches)
i
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~ and shall promptly ~e~{orm, ooarply with, and abide by each and every the stipnlatioos, agc~eemeats. conditions. and ooveaants d said pro~m-
issory note and d this deed, then the estate hereby created shaIl cease and 6e nuD and void.
AND the Mortgagor does hereby covenant and agree:
1. To Pay all and singular t)ie principal and interest and other sams d money payable by virtue of said promissory note and this mort-
gage, or either, Promptly on the days respectively, the same severally Dome due. .
2. To pay all and singular the tares, assessments, kvks~ liabilities, obligation and eacumbranceY of every nature on said described prop-
erty each and every when due and payable according to law, before they beoosne delinquent, and if the same shall not be promptly paid
the I?iortyagee may at any time either before or after delinquency pay the same without waiving or affecting the option to fortclase, or
any right hereurder, and every Payment so made shall bear interest from the date thereof at the rate provided in said promissory note.
3. To keep the buil3ings and all +~qq t and personal property now or hereafter eo said premises, covered by this mortgage, iruured
ire a sum at least equal to the unpaid balan•
owe
ofof this mortgage, indudiog firg flood, atended oow~eraggwndalism, malicious mischief, and i
any other rnverage nqucred by tl,e mortgagee, as to Properties other than dwdiinq!~,~ and fire. food, extended coverage, special-form other-perils
insurance, and any older coverage required by the mortagee. on dwellings e$gible for such hraadened coveraggee -Provided however, that
§ auc6 insurance be in an amormt sufficient to cam- ply with any oo-insurance requirements covering same ceder the Lws d the state d Florida,
and provided further that the policy or pdicies shall be written in a company or companies and through an agency sstidactory to the 1?iort-
Ragee and that said polictyy or policies shall be held by the I?lortgagee and shall bear a standard Nes? York Mortgagee Clause without contribu-
i lion, maivag the bas undei said policies payable to the Mort~gee as its iaterdt may appear, and in the event a~+ sum of mommy beroues
v ayable under any such policy or policies, the Mortgagee shall have the option to receive and apply the same oo account d the indebtedness
hereby secured, or to permit the llfortgagor to receive and ~e it, or arty part thereof, for other pnrpo~s„ witbont thereby waiving or impair-
inK any equity, lien, or d~Cht under and by virtue d tbIs mortgage; and in the eyeaR the Mortgagor does not comply with this covenant, the
Mortgagee may place a Pay for such ir,sruance. or any part thereof, without waiving or affaaing _the option W farec]oae, or ury right here-
under, and the full amount of each and every snc6 payment shall be 6nmediately doe and~pa ,and shall bear interest fran the date
thereof until paid at the defardt rate provided in said note and together aith such Lkerest shag be searr+ed by the lien of this mortgage-. Insrrr•
once mveriag the peril d Road damage shat) be as required by the Federal Disuter Pratectio~o Act of 1 3r or d amended, and mortgagor {
# covenants and agnxs to Damply in all r+espetis with tht provision thereof.
4. That mortgagee may.:t arty time during the mortgage term, and io its discretion, apply for renewal of guara~y insmanoe -
covering the wortggage executed by the undersigned oo even date herewith, pay the premium due by reason thee ,and require repayment
by the rmdersigr,ed of sr,ch amounts as err advar,crrl by said rr,ortaaeiee. In the event of failure by the unckrsiRned to repay said amounts to
said mortgagee, erect failure shall be ooosidered a default, and aD pmvisbm of the note and mortgage wtth regard to defauh shall be appli- ~
cable.
S. To permit, commit or suffer no waste, impairment or deterioration of said p~p~y. or any Part thereof, and upon the failure of the
mortgagor to keep the buildings oft said Property in flood condition of repair the Drfortga may demand the inornediate repair d said build.
inRS, or an increase in the amount of security, or the immediatetepayymmeat d t~e debt 6~iscwed and the fai}me of the Mortgagor to com-
ply with said demand of the Mortgagee for a period d thirty (30) flays. sha0 coo:tituts a of this wortgage. and, at the option of the
ortgagee. immediately mature the entire amount d prindpal anndd fnterest hereby secured, sad immediatdy and without notice, the Mortgages
may i>wtltnte prooeedirsgs to foreclose this mortaags and apply for tLe appointment of a Receiver, m hereinafter provided.
a~342 p~E iii