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Home My WebLink About1698TO IIA~'F: AND 'I'O NnLD tbe same, togethcr wit6 the t~nemenb. 6eraUtaaseub ~nd ~ppurteoa~, unto the MortkaKee. in t~Y stmpk. AIr'D tho I-iortKagor does herrby covenant with the I-ioriKa~;~v+ that hr is Uwl~•frasi6ly srizrJ of said lancl ia (ee tin~ple, tlwt 6e h~u hdl pow•rr a~xl lawful ri~;ht tu ca~vey said 4-od io f~v~ simplu as nfums:ud; tF~ut it shall he laa•(ul (or d-e ~1on~;atire st wU !iu~esp~ a~~eably end y~~iedy to e~te~ upoa hold, occupY a~xl eu'y said I:uKI; lhat sai~l la~Hl is ftee (rom all inru~n6r•r~Kws; t}wt he wiU u-ake surh• GuUie~ auurancrs to protect the ~ce siwple title to sai~land in tlia ~turtqa{;ea u may reatonubly he nti~uin~; tLat he does 6e~eby fuUy wurant the tide to said land and will drf~ud tho sauie sx:ur~t the Invrf«! claims d all pe~svus wlwawxver. YROVIDED. ALWAIS. that 1~ t6e Mortgagor aball pay unto the Mo~tgagee tbe oectatn praaniaar aote aE wWch the toUowins In words ard Eigura~ tt a hue oopy. ~o-wit: CO~i~1UNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PAL:~i BEACHES ~'~Ul`#~M~E ~nfP RIVIERA BEACH. FI.ORiDA January 9, 1981 Being indebted, for value received. the iu-dersigned ~oindy and severally promise to pay to COrfMUI~*ITY FEDERAL SAV- INGS A1~D LOAN ASSOQATION OF THE PALM BEACHES at its office in the City of Riviera Beach, Florida, or order~ the sum of FORTY TNOUSAND AND NO HUNDREDTHS________________ ______ DOLLARS (i 40,000.00 ~ toRetber with interest thereon as hereinafter stated in mond-ly installments af Five Hundred Five atld ~s/ioo-------------------------------------------------- noL~RS ca sos.~s >. T6e fizst iactallmrnt shaIl be due and payable on the lOth aaY of June 19 gl and subsequent instaliments shall l~e due aa] payable on the lOth ~Y ~ eac6 and e~~ecy calendar month ther~after until il~e principal and inccrat are fully paid. Until the first payment mentioned above,interest shall be due nd payabl mo t}~~~ I.~ar~er sums may ~ paid at any ~, ~u~t~~5d ~paymeat of any such lar~ter anms in addition to the payments herein re- quired s1iaD not relie~~e tLe makers oE the pay~nent of the monthly inctallinents herein provided for, unless it is specifically stipu- lated by the makers at the time of paynicat that such larqer sums am to be applied to the advarn~c payment oE the ma,thly i~utall- ments next m.~tunng ~n U~e order of their due dates. .W payments u~ade upon this note shall be applicvl first to the payme~t of accrucd interest a~x1 secondly upon lhc principal. This obligation shall bear iaterest from date at the rate of Fif teen-------------- Per cent ( "o ) per anm~m until tlie principal anci interest are fully paid. 15.00 Intcrest for each calendar month shall be accrued on t6e first day of said month and be computcd on the unpaid balance of principal and interest ezistinq on the last day of the prececling month. This note shall be considerecl in default u•hen any pay- ment required 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. ~t'hile in default, this note shal) bear interest at the rate of ~Eightee~1-------------- ~~ ~'t ( j$ ~ 96 ) per annum in lieu of the rate hereinbefore speci(ied and holder during default may at its option refuse to accept payment of pny sum less than the total su~ount then clue or declared hereunder to be due. All makers and endorsets ~r or hereafter becamiag parties hereto joindy and severally vraive demand, aotice of non- pay~neat and protest, and agree that in the event of default in the payment of any installment due hereunder for a period oE thirty (30) days the whole of said indebtedness shall thereupm at the optiam of the holder, become immediately due and pay- ahle, and if this aote becomes in default and ic placed in the hands of an attomey for coUection, to pay reasonaUle attorney's fees and aU other costa including oosts and attorceys Eees of Appepate Court Proceeding,s for maL''ng such colleciion. This note may be prepaid in wbok or in part at any time wit6o~t penalty. S/James F. Simpson ~g,u,~ . _ __ (SEAL) ------- - ---------- James ~. Simpson S/Sue C. Simpson ~5~~ ~SEAL) --- ---------------------- ------------ ------- --- ---- - - - aue c. ~impson of the Palm Beach~ by a mortgage oE ev~en date ezecnted by the mal:ers in favor oE Commanity Federal Savingi and Loan Assn. and shaD promp tlyp e'rform, comply with, sud abWe by each and every the~p iilatioas. ~greements, aondiGom, and covenants af said prom- issory note and of this deed, then the estate hereby created shall cease ancl 6e null and void. AND the Mortgagor does Lereby oovenant and agree: 1. To pay all and singular the principal ancl interest and other sums of money pnyabk by vlrtue of said promissory note and this mort- gage. or either, prompdy on the days respectively, the same severally oome due. 2. To pay all and singular the ta:es, a~ssments, kvies, L'abilities, obligatioas and encwnbrances of every nahue on said described P~P- erty cach and every when due and payable according to law. beforc the~ become delinquent, and if the sa~ne shall not be prompdy paid the 1lfortp,aRee may at any time either before or after delinyueocy pay the same without waiving or alfecting the option to foreclose, or any rig6t hereunder, and evcry payment so made shall bear interest from the date thereof at the rate provided in said promissory note. 3. To keep the bnildin~s and alleq uipment and personal property now or 6ereafter on said premisa, oovered by tlus uwrtgage, i~uure~ in a sum at least cv~usl to the unpaid balance of this mortgage. indudiog fire, flood, erteoded coverage vandalism, malicious mischief, and any other coverage rc~uirecl by the mortqagee, as to properties other tban dwellings ond fire, Elood. ~ten~ed eoverage~ speeial-form other-perils innirance, and any other ooverage required by the mortagee, oo dwellings eligi'bje for sueh broader-ed ooverage- provided, however, that such insurance be in an amount s~fficient to oom~p1~ with any oo-insurance requirements coverinR sa~ne under the laws of the State of Florida, and provided farther that the po6cy or policies shall be written in a company or eompanies and throug6 an agency+ satisfactory to the I-iwt- ~aqee and that said poliry or policies s6a11 be held by the I-tortgagee and s6a11 bear a standard New York Mmtgagee Clause without contribu- tion, maliig the loss under said policies payable to tbe Mortgagee as its inte~cst may appear; and in tLe event any sum ofmo~~ey beco~nes payable under any such policy or policirs, the Mortgagee shall tiave t6e optioo to reoeive and apply tbe same on aooount of the indebted~ess hereby secured, or to permit the Mort~agor to reccive and ute it, or any part thereuf, for other purposes, without thereby waiving or impair- inA any equity. lien, or dght under and lry virh~e of this mortgage; and in t6e ev~mt the MortRagor dces not comply with t6is covenant, the ~tortgagee may pl~a~ce and pay for such insurance, or soy part there~f, witbout waiving or dfecting tbe aptioo to F~reclose, or any dght here- under, and the full amount of each and every such payment shall be immediately due and payabk, ancl s6aD besr interest fran the dnte thereof until paid at the default rate provided in said note and toqether with snch interest s6aD be sccared by t6e lien oE thLs mortgage. Insur- ance cm~ering tl~e peril of flood damage shaD be as required by the Federal Disaster Protection Act af 1973. or ~~mendod. and mo~t~agor covenants and agreea to oomply in eD respecta with the provisions tbered. 4. T6at mortgagee may, at any time during the mortgage term, and in its discretion, apply for renewd of~ mortgage covering tbe mort age ~ecuted by the undersiRned on even date here~vlt6.pa y t6e premium due by reason tbereof. and~e~repa~ by the undersi~ of such amoimb as are advancrd by said m~rt¢aeee. Io the event of failure t-y the undersi¢necl to rc~ay said amounts to said morcgagee, such failure shall be coacidered a default, and all provitioas of the note and mortgage with regard to default a6all be appli- cable. s 5. To permit, commit or snffer no wsste, impairmeot ~ or detaioratia~n af saidp~p~y , or anY pert thereof. ~nd npon the failure of the ~ mortgaRor to keep the buildinp.s on said praperty in good oooditioo of repair the 11- ortRag~e may demand the immediate repair of sakl build- inRs, or an increase in the sinamt of savrity. or the immediate ym ent of tfie deM 6ereby ~ecured and the fail~ue of the Mortgagor to com- . ply with said demand of tbe MortEtaSee for a period d t}ilrty ( 30~dayR shall constitnte s breacb of thLs mortga1~. ~. at tbe option of the ~ MortRagee, immedistely moture the eatire amamt of p~incipal end inte~est bereby secured, and immediately aad without notioe~ the Atortgagee may instihrte prooeedings to foreclae tbis mortgagie and apply for the appotntmmt d• Reoeiver, ~ bereimfte~r pcovtdcd. Bo~K34s Q,~E~s~4 _ _ _._.-_._:_ _ __ _ __ _ _ _ _ ______ __ ______ - :~:x_K-:-_ :. _ . __