HomeMy WebLinkAbout1535 TO f1AYE AND TO Il(~LD the same, together with the terrtrnenb, bendttaments and appurtenances, unto the Mortgagor,, m fir simple.
A1'D the Mortt;ar;or dots hereby covenant with tl?e Mortgat;re that he is irKirfr?uiblY seirrd of said land in tee simple, that Ix• has
fall power ar?d lawful right to ttn?vey said land in ftr si?npk as aforesaid; that it shall 1?e lawful for the Murtt;aq?•e at all tirn?,•s p(~eaceably
arKl yuirtly to enter u{pxtm, hold, arupy a?wl enloy said laral; that said land is Frer from all incamhrancrs, U?at he will uwke such further
assurances to protect tt?e (re siu?plr title to said lar?r1 is the Mortgagee as may reasorwhly be rer;uirod; that he does hereby fully warrant
d?e title to said land acrd will defend the saute agarrut the lawful claims of all persons whanawer.
f RO~IDED, ALR'AYS, that if the Mortgagor shall pay unto the Mortgagee the catala promissory trots of which the foDowrtnH to
words and figures b • true copy. to-roll:
CO~i111UNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PALM REACHES
I
~ C'~Ol'f$M~E ~U#E
RIVIERA BEACH, FLORIDA November 13, IA 80
Being indebted, for value received, the undersigned jantly and severally promise to pay to COMMUNITY FEDERAL SAV-
1NCS AND LOAN ASSOCIATION OF THE PALM BEACHES at its office in the City of Riviera Beach, Florida, or order, the sum
of FOUR THOUSAND FIVE HUN RED DOLLARS 4, 500. 00 )
~1~[D~VO 10~/~HS-----
together with interest thereon as hereinafter slat rn mon y rust nests a Hundred Four and
?1f100-----------------------------------------------DOLLARS (S 104.71
!
! The first installment shall be due and payable on the 10th ~Y ~ December 19 80
j ud subsequent iattaWnents shall be due and payable on the 10th day of each and every calendar month theefa[ter
until the principal sod Interest are frdly paid.
Larger sutras may be paid at an time, but the payment of any such larger sums in addition to the payments herein re-
gaited sl?a not relieve the makers of the payment of the monthly installments herein provided for, unless it is specifically stipu-
lated by the makers at the time of payment that such larger sums are to 1?e applied to the advance payment of the monthly install-
menu neat maturinG in the order of their due dates. All payments made upon this note sl?;rll be applied first to the payment of
aerrued interest and ueonclly upon the principal.
This obligation shall bear interest from date at the rate of FOUrteen-- - - - - - - - - - per cent ( 14. 00 r/o )
per amu?m until the princinal ar?d interest are [ally p:?id.
Interest for each calendar month shall be accrual oa the first day of said month and be computed on the unpaid 1?alance
of princip:d and interest existing on the last day of the preceding month. This Dote shall be considered in default when any pay-
ment required to }?e made hereunder shall not have been made by its due date and shall remain in default until said payment shall
1 have been made. While in default, this note shall hear interest at tl?r rote of - -Eights eri- - - - - - - per cent
' ( 18 96) per annum in lieu of the rate hereinbeforo specified and holder during default rnayt at its option refuse to
accept payment of any sum less than the total amount thee due or declared hereunder to be due. _
~ All makers and endorsers saw or hereafter ~ parties hereto jointly and severally waive demand, notice of non-
j payment and protest, and agree that in the event of default in the payment ~ arry installment due hereunder for a period of
~ thirty (:30) days the whole of said indebtedness shall thereupm at the option of the holder, become immediately due steel pay-
able, and if this note 1?ecomes in default aril is placed in the har?rls of an attorney for collection, to pay reasonable attorney's fees
and all other costs including coats and attorneys fees of Appellate Court Proceedings for making such collection.
This note may be prepaid In whole or in part at any time without penalty.
~ S/John A. Carlson (SFJ?Ia _ (SEAL)
John A. Carlson
(SEAI•) - - - - - - - - - (SEAL)
f ~
~ (Tl?is note is cec»red by a mortgage of even date executed by the makers in favor of Commtmity Federal Savings and Loan Asm.
of the Patin Beaches)
{ ~
and shall prompfly perform, comply with, and abide by each and every the stipulation, ag~retrrtents, conditions, and covenants of said prom-
issory note and of this deed, then the estate hereby created shall cease and 6e null and void.
M'D the 1lfortgagor does hereby covenant and agree:
1. To pay all and singular the principal and interest and other sums of money payable by virtue of said prarrissory note and this mort-
gage, or either. promptly on the days respectively, the same severally come due. .
2. To pay all aril singrdar the taxes, assessments, levies liabilities, obligations and encumbrances of every nature on said describal prop-
~rty each and every when due and payable according to faro, before they become delinquent, and if the carne shall not be promp:fy paid
the Mortgagee tnay 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 buildings and sU equipment and personal prooppeerty ~r or hereafter ao said pn~mises, covered by this mortgage, insured
in a sum at least equal to the unpaid balance ~ this mortgage, irtduding flood. extended coverage vandalism, malicious mischief, ar?.1
any oiler coverage required by the mortgagee, as to properties other than dwellings and fire, flood, a=tended coverage, special-form other-perils
insurance, acrd any other coverage required by the mortagee, on dwellings eligr~ie for such broadened coverage -provided, however, tl?at
3 such insurance be in an amount sufficient to comply with any co-insurance requirements covering same under the laws of the State of Florida,
and provided further that the policy or pdicies shall he written in a company or atnrpaaies sell through an agency satisfaMory to the Mort-
Magee and that said pollcy or policies shall be held by the ltlortgat;ee and shaD bear a standard New York Mortgagee Clause without contribu-
i lion, making the loss under said policies payable to the Mortgagee as its intent rmy appear; end in the event any sum of money becomes
payable under any such policy or policies, the Mortgagce shall have the option to receive ud apply the same on aawurrt 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-
inq any equity, lien, or right under and by virtue of this mortgage; and in the event the Mortgagor does not comply with this covenant
Mortgagee may place and pay for such insurance, or any part thereof, without waiving or affecting the option to ereclose, or say right
~ under, and the full amount of each and every such payment shall be immediately due and payable, and abaft bear interest from the date
~ thereof until paid at the default rate provided in said note and together with such interest shall be secured ~hy the lien of this wortgage. Insur-
ance eoverinq the peril of flood damage shall be as required by the Federal Disaster Protection Ad of 1fI'J3, or ar amended, and mortgagor
4 covenants and agrees to Damply in all respells with the provision thereof.
4. That mortgagee may, at any time during the mortgage term, and in its dlrcretion, apply for renewal of mortga guaranty inttranoe
covering the mortgage executed by the undersigned on even date herewith, ppaay the premium due by reason thereoF. amend require repayment
by the undersigner) of such amrnmts as art advanced by said rrMrtga4ee. In flee event of failure by t}re undersigned to repay said amounts to
said mortgagee, such failuue shall be considered a default, and all provision of the note and mortgage with regard to default shall be appli-
cable.
S. To permit, commit or suffer no waste, impairment or deterioration of said p~pe~y, or sari part thereof, and upon the failure of the
mortgagor to keep the buildings m said property in good condition of report the Mortga may demand the immediate repair of said build-
r lugs, or an increase in the amount of security, or the immediate yment of tfte debt 6ere~y
secrued and the failure of the Mortgagor to com-
ply with said demand of the Mortgagee for a period of thirty (30~days. shall comtitute • breach of this mo~rttgage, and, at the option of the
~ Mortgagee, immediately mature the entire amount of principal and interest hereby secured, and immediately and without notice, the Mortgagee
may institute prooeediogs to foreclae this mortgage and apply far the appointment of a Receiver, as hereinafter pravWed.
4
~aox343 PA~~153`3
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