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Home My WebLink About15603 TO HAVE AND TO HOLD the same, to~cther wiW the teaeiacnfs, 6credi4meob tud appurteaanc~x. unto tbe I-tortKaKe'~. in (~r si~nple. AND the MortRagor does hemby ooveoant with the Ato~tKa~;~~ that he Li inJrfrasibl srised ot s~id land i~i ke simple. that 6e ha~ full power a-HI law(u) rifiht'to ca~vcy said la~xl in tee suupk as afuresuid; that it stwU !x~ ~wiul Fu~ U-e ~tu~ty;•r~;ee at ull UuN.•sp aa~rxl,ly a~Nl yuietly to euter upc~n, hoh1, occupY a~xl enp'y said laucl; that said lancl is free (~om ~11 irnuu-bra~crs; th~t he wiU mukc suct~ further a~suran~.~es to protect Uie fre simple tiUe to said 4~rKl fo Uie \lurtga~;ce at m:~~! rcau~nat-ly I~e ~~uired; that 1-e doa berrby fully w~urant the title to suid laix! aaJ wiil dufaad the ~u~e agauut U~e L-H~t~d claiius oE all pe~wza whansorve~. PROVIDED. AL~M1'AYS, tLat if tbs Mo~agor ~brU p~y unW ti.e Mdrtg,agee t6e oerWn pramissoq- aote o[ whic6 ths IoDoMWS In words and figura b a t+us c~opy. Eo-wit: C0111i1iUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PALbi BEACHES ~'~pl`#~ti$E ~U#e RIVIEM BEACH. FIARTDA 19 81 Being indebted. for value reoeived. the undersig~ed ~ointly aad severally promise to pay to COI~lMU1~I7Y FEDERAL SAV- INGS AIVD LOAN ASSOCIA170N OF THE PALM BEACNES at itt office in tha City of Riviera Beach, Florida. or order. the sum ~ THREE THOUSAND SEVEN HUNDRED AND NO HUNDREDTHS--------- DOLi,ARS (; 3,700.00 ) together with iate~est theroon at hereioafter stated in montWy instalLnents of Eighty Ni~le and ~ oo/ ioo------------------------------------------------- no~as c a s9 . oo ~. 'tbe ftnt installment shall be due and payable oo the lOth a,y ~ February 19 81 and su6sequent installments shaU he due a~xf payaLlc on thc lOth ~Y °'~ ~~~n' ~lenclar month thereafter until the prwcipal and interest are fu11y paid. Larger suins may be paid ataay tiine. but thepa ymeat of a~r suc6 lar~er sums in addition to the payments herein re- qnired shaU noi relieve the makers of the payment of U-e monthly instaliments herein pmvidcd for, anless it ~ specifically stipu- lated by the makers at the time of payment that such larger sums are to 6e applicd to the advancc payment of die ~oaithly install- ments next mahinng in lhe onler of their due dates. All payments maJe upon this notc shall be applic~l first to the payment of acrn~ed interest ancl secondly upon the principal. ~ 1'his obli~ation s6a11 bear interest frofi Jate at the rate ofFifteen and one/half P''r cent ( 15.50 `~°~ per :tnnum until lh° (1T{IMI~1~ and interest are fully paiJ. Interest for each calendar uwnth shall be accrued on the first day of said month and be computed on the unpaid Lalance of principa) and interest ciistinR on lhe last day oE the preceding montl~. Tl~is note shall be rnnsidered-in default when any pay- ment re~juired to be made hereuncler shall not have been made by its due date and shall remain in default until said payment shail have been made. While in clefault, this note shall hear interest at the rate of --EigRteen--------------L per cent ( 18 96 ) per ann~n in lieu of the rate hereinbefore specified and holder during default may at its option refuce to aooept payment d any sum less than t6e total amount then due or declared hereunder to be due. All makers snd endorsers now or 6ereafter ~ parties 6ereto jMntly and severally waive demand, rwtice of non- payment and protest, and agree that in the event of deEau t in the payment bf any iastallment due hereunder for a period of thirty (30) days the whok of said indebtedness s6aD thereupon at the apHon of the holder, hecome immediately due and pay- able, and if tMs note becomes in default and is plaoed in the 6ancls of an attorney for rnllection. to pay reasonable attomey's fees and eIl other ooats includin~ costs aad attornt,ys fees of Appcllate Court Proceedings for making such collection. This note may be prepaid in whole or in part at any time without peaalty. S/Robert M. Ressner ~S~ f~'obert 1~kessner (SEAI.) S/Ann Ressner (gg~,) ------ ,----------- -- - (SEAL) - ------- - -- --- - --- -------- --- - - (This note u nsechirRedP~y aemortgage of even date r,~ecntod by the makers in favor of Community Federal Savingi and I.aan Assn. of the Palm Beaches ) and shall pr~pt}yp~{ orm, a~ply with, and abide by each and every t6e nlaGoas, ~~reements, oonditioas, and covenants oE said prom- issory note and of t~-is deed. then the estate 6ereby created shall cease and~ nuD and void. AND the Mottgagor dces hereby oovenant and agree: 1. To pay all and singular the principal and .interest and otLer snms af money payabk by virtue of said promissory note and this mort- gaqe. or either, prompdy on fhe days respectively. the same severally aome due. 2. To pay all and singular the ~es, acsessments, lcwies liabilities. obligauions and encvmbra~a of every nature on said described prop- erty each and every• when due and pnyable according to taw, before ~becoma delinqnent, and if the same shall not be promptly paid the biort~atCee may at any time either before or after delinque~~cy pay same wit}wut waiving or affecting tbe option to (oreclose, or Qny ripJ~t herem-cler, and every payment so made shall bear interest from tbe date thereof at the rate provided in said promitsory note. 3. To l~eep the building~ and alleq uipment and persa~al property oaa- or 6ereafter oo said premises, oovered by thLs mortgage, innuai in a sum at least ~~usl to tl~e unpaid balance of this mortgage. indudiog fire, flood. esteoaed coverage vandalism, malicious mischief, and any othcr coveraKe rec~uircYl by the morip,aKec. as to pmperties other than dvrellinqs and fire. flaod, e:ten~ed coverage, special-form other-perils iacnrance, and any othcr rnveraqe required by the mortagee~ on dwellin~ eligibte for suc6 broadenc~d aoverage- provided, however. d~at suc6 insura~e be in en amouat sufficient to aomp witb any oo-insurance requiremenb caverinR same under tt~e laws of the State of FMrida, and provided further d~at the policy or policiex sha~ be writteo in a compaay or oompada aad through an agency satisfactory to the Mort- ~agee and that said policy or policies s6a1) be held by the Atortg,agee and s6all bear ~ standard New York Mortgagee Claute without rnntribu- tion. maklng the lass under said policies payable to t6e Mortgagee ac its tnterest msy appear; ~nd in the event anp snm ofmooey becomes payabk under any such policy orp~L aes. t6e 1-tortgagee sh.iD have the option to reoefve and apply the same on aecount of the indebtedneas hereby serured. ~r to permlt t6e Ilfortgagor to ~ecelve and ~ue it, or any part thereof. for other purpoaes, without t6ereby wafving or impair- in~ any e~~~ity, lien, or dght under and by virtue d this mortBaSe; and in tbe eveot the I-~ortgagor does not eomply with tLis ooveoant, t6e !-lortgagee may pl~a~ce aod pay for such insurance. or any part thereof, ~vithout waivinR or affecting t6e optioo to fweclase. or aay right herc- under. end the full amaint of each and every such payment shall he immediately doe and payabk, and shall bear interest fran the date thereof until paid at the default rate pravided in sald note and together with suc6 interat s6aU be secured~y the lien of thi~ mortgage. Ias~r- ance coverinA the peril of Elood damage shall be as required by t6e Fedenl Disaster Prota~fan Ad af 1973, or as as~eaded, and matgagor ooveaanb aod agees to oomply in all rapects with t6e provisiom thereof. 4. T6at mortgagee roay, at a~ time durinq ibe mortgage term, and in its discretion. ~pply for renewal of gage gnaranty imur~noe covering the mort~a ge aecuted by the undersiRneci on even date herewit6,pa y tbe premium due by reasoo tbe~reof, and reqnire n~Qayioent by the undeni~~ed of such amrn~nts as are advanred by said mnrt¢ac~ee. in the event of faihire by thr uraktsi¢necl to n~sy said amounts to said mortgagee, such failure shaD be ooaiidered a default, and aD provitions of the note and mortgage with regard to defaWt a6all be appli- cabk. 5. To permit, commit or snffer no ~vaste, impairmeat or deterioratioo of saWp~ope~ty, or anp P~t therwf. and npon tbe failure of tbe mortgARor to keep the buildtngs oo tsid property in good ooodition of repair tbe Mort~tagee may demand the immediate nepatr of said build- intts. or aa iacrea~e in the amount of security, or the immediatercpaym eot of t~e debt bere6y iecured and tbe failure of tbe Mortgagor to oom- ply with said demand of tbe MortRagee for a period d tlilrty (30) days, s6a11 comtitute ~ bracl~ of this mortgaRe, ~nd, ~t t6e optwn of the MortgaRee, immed'utefy mature tbe entire ~mou~ of principd md iMerest 6ereby secured~ and immed'utely ~nd wit}~out notice, tha Mortgagee m~y institute prooeedinp to fo~edo~e tb4 mort~~e aod ap~ply [or tbe appointmeat of a Raoeiver, as 6ereinaEter provlded. ~ E~~~347 P~~E1557 ~ _ s~, _ -- - -- -_ r s~°a >t .s~.-~.__-Lri ` - _ " _.....~c"-.~°'~