The URL can be used to link to this page

Home My WebLink About1688TO IIAYE AND TO HOLD the san~e„ to~et}-er with the teaemrnb. 6ereditamrnb aod ~ppnK~anoa. uato the MortRaKce. in f~r :in-ple. ANO the MartR~~or does hamby eove~wnt w~th the I-tortgaPcr tl~at he is irwl~•ira.~ih1~ seizc~l of said land ia fee simple, tlwt he hsu fuU poN<:r nnd lawtu) ri~ht to coavey saNl land io tec si~nptc as a(orrsai.l; that it s1u~U t,e lawful io~ t!w Afort~ay;~ at aU timespc nceably a~Hl yuiedy to rnter upoa, hukl, «.~rupY a~K1 en~'oy said la~Kl; Ihat sA~d I+uK1 is fine (ran ~U i~K•~~~ub~aucrs; tlwt 1-o wiU inake sucl~ fuAhrr aaura~x~es ta protc~.t the fee si~nple title to said laMl in l}~e \tortycay;ee as mux~ re+au~rwhly be n~~uireJ; t6st he dor~s hereby fully v-~•arra~-t thr ti-la to saiJ land and w;ll defead the saene ~K~unct the l:-wtul claiu.s o( all persons whouuorver. YROYIDED. ALWAYS. that if ths Mortgagor s6sll p~y unW tl.e Mortg,agee the oertain pranis~- note af a-Lkh tbe fo0ov~ln~ in worcL ~nd figura b a tr~e copy. Eo-wlt: CODiDiU11{ITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PALM BEACHES C~ar#~t~~e ~UtE RIVIEM BEACH. FLORIDA January 9, 19 81 Being indebted. for value received, the widersigned ~Mntly aad severally promise to pay to COMMUI~IIY FEDERAI. SAV- 1NCS AND LOAN ASSOQATION OF THE PALM BEACNES at its offiee in the City of Riviera Beach, Florida, or order, the sum ~ FORTY THOUSAND AND NO HUNDREDTHS-------------------------- DpLLARS (~ 40,000.00 ) togct6er with interest thereoa as hereinaiter stated in moathly instaWnents of Five Hundred Five and ~s/ioo-----------------------------------------------------nor.~RS ca so5.~8 ~. T6e ffnt tactallment s6all be due and payable oa the lOth ~y ~ June 19 81 ond subsequent irutallments shall be duc ai~d payable on the lOth ~y ~~~ ~i every caiendar moath thereafter uncil ehe pr,'ocipal and interest arc fully pa;d. Until the first payment mentioned above, interest shall be due and payable monthlr~. I.arper sums may be paid at time, but payment o# aoy suc6 larRer snun in addition to t6e payments herein re- quired shall not relieve the makers of~ paymeat of the monthly inctallments herein provided [or, unless it ic spe.~cifically stipu- lated by the makerx at the time ofpa y~nent that such la er sums are to I~e applied to the advance payment of the madhly install- ments neat matunng m tbe order oF their due dates. ~ pay~uents made upon this note shaU be applieci first to the payment of acerued interest and secondly upon the principal. . TbLt obligation shall bear interest from date at the rate of Fif teen--------------- Fk'~ re~t ( 15.00 ~ ~ per annum w~til the principal and interest are fully paid. Interest for each calenciar uanth shall be acerued on the first day of said month and be computed on the unpaid balance of principal and interest e:istinA on the last day of the prececling month. This note shaU be rnnsidered in de(ault when any pay- ment•required to be made t~,ereunder shall not have been made by its ~ue date and shall remain in deEault until said payment shall have been made. While in default, this note shall bear interest at the rate of --Eighteen--------------- per ceat ( 18 96 ) per annum in lieu of the rate hereinbefore speciEied and 6oWer during default may at its option refuse to aocept payment af any sum less than the total amount then due or declared hereunder to be due. All makers and endorsers now or hereafter ~ parNes hereto jointly and severaUy waivc demand. notice oE non- payment and protest, and agree that in the event of defau t in the payment of anny installment due bereuncler (or a period of thirty (30) days the whok of said indebtedness sl~all thereupoo at the opNon of the holder, beco~ne immecliately due and pay- able, and if t6is note becomes in defaWt aod 'u placed in the hands of an attorney for coqection, to pay reasonabk attomey's fees and all other costs including oosts and attorncys fees of AppeIlate Co~ut Proccedings for making such collection. This rate may be prepaid in whole or in part at any time w~thout penalty. S/James F. Simpson James. r'. Simpson --- - --- - --- (SEAL) S/Sue C. Simpsnn {$g,pi,) (SEAI,) S e.C. ( 7~is no~e u sec~~r~~~~~nodgage of even date aecuted by the uiakers in favor of Commanity Federal Savings and Loan Asm. of the Palm Beaches ) - and s6all promp dy pedorm, oomply~ with, and abide by ach and every the~p Watioas, a~eements, oonditioas, and covenants of said pro~- issory note and of this deed, thea the cstate hereby cre~ated s6all cease and 6e null and vad. Ah'D the Mortgagor dces hereby covenant and agree: 1. To pay all and singular the principal and interest arwl oWer sams of moneY D4Yable by virtue of said pronrissory note and this mort- gage. or either. promptly on the days respectively, the same severally come due. 2. To pay aIl and sinSular tLe tazes, assessments, kvies liabilities, oblig~-tio~ ~nd encumbrances of every nature on said described prop- ~ety each and every when due and payable according to ~aw, before~y ba.~ome delinquent, and if the same sbaU not be prompily paid the rtortp,agee may at any time either before or after delinqucncy pay the same without waiving ar afEecting the option to Eoreclose, or- any right hereuader, and every payment so mack shall bear interest from the date thereof at tbe rate p~ovided in said promissory note. ~3. To keep the buildin and alle qmpment and personal property now or hereafter oo said premises, ooverrd by this mortgage, insured in a sum at leact equal to ~ unpaid balaixe of thit mortgage, including itre, flood, extencled caverage vandaiism, malicious mischief, and any other coverage reqaired by the mortgagee, as to properties other ihan dwellin~s and fire, Elood, estenc~ed coverage, special-form other-perik insurance, and any other coverage rec~uired by t6e mortagee, oo dweilio~ elig~'ble for such broadened coverage- provided, however, that such insuranoe be in an amamt sufficient to oomp~y, with any co-insurance requirements covcrinR same uader the laws oE the State of Florida, and provided further that the policy or policies shall be written in a campany or oompaaies and through an agency sati~factory to the I-to~t- ~agee and that said policy or policies shall be LeW bythc I~iortgagee and st~all bear a standard New York Mortp,agee Clause without coniribu- tion, maliag the loss under said policies pa b1e to the blwt gee as its interest m4Y appear; and in the event a~ sam ofmo~e~ beco~nes ya w payable under aay such policy or policies, the Moitgagce sha have the optan to receive aad apply t6e ssme on aoowint of t~e indebtedness hereby aecured, or to permit the Mort~aqor to ieceive and u~e it, or aoy part thereaf, for other purpases. wit6oat t6ereby waiving or imp~ir- inq a~ equity, lien, or right under and by virtue of this uartgage; and in the event the Mortgagor does not oanply with this oovenant the biortgugce may place aod pay for such iacurance, or aay part thereof, wit6out waiving or affecting tLe optioo to f~eclose, or aoy rip~ht ~ere- ~nJer, and the full amount of each and every sach payment shal) be immediately due and payable, and shaII bear interest from the data thereof nntil paid at the default rate pravided in said note and together with such interest s6aD be secnred~y t6e lien af t!-ismortgage. Iasur- ance coverw the peril of flaod damage shall be as required by the Federal Dimster Protection Act af 1973. or as ameaded. and mortgagor ooveaants ~ agrees to camply in aII respetis wit6 the provitioas thereof. 4. That mortgagee may. at a~+ time during the mortgage term, and in its disnetion, apply- for raiew~al oE~ mort$age guaronty i~raaoe covering tbe mort age ~ecuted by the nndersiy,ned an even date 6erewitL,pa Y the premium due by reason theroof. and require repayment by the undersi~ of such amounts aa are advancrd by said rrMrt¢aere_ in the cwrnt of failnrc by the+ undersicned to repsy said amounts to said mortgagee, such failiue shaD be ooa~idered a default, and aIl pmvisions of the note and mo~igage with regard to default shall be app1I- cable. ~ 5. To permit, commit or suffer no ~wast~ impoirment or deterioradon of atdp~perty. or aay prt thereof, and upon tbe failure ~ tbe mo~tgagor to keep the buildings oo saId property in good coadioioo of repair t6e MortKagee may deawnd t6e immediate repair of said build- inp,s, or an increase in the a~fiount of security, or the immediate r ym ent of t~e debt hereby ~ecurai ancl tbe failure of tbe Mortgagor to com- ply with said demand o~ the MortRagee for a period_of t6irty (30~days, sbaU constitute ~ br~ach oE this mortgaqe._ and, at tbe option of the may imtit~te proceedingi to foroclae this mortga~e iod apply tor the appointmeat of a Reoefver, as herda~fter provk~ed. Bo~x3~6 fscE1634