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Home My WebLink About2459TO 11AVE A.W TO HOLD t6e wne, toRet6et with tbe ttaemenb. haroditameals sad ~ppurtcaanab. ~u~to the MortgaKer. in f~~ simple. AI~D the MortKaRor d~xs 6rreby oovenant with U~e blartKaycca t6at hc ls indr(r+rsih1~ ae~iu~c1 af said laud ia (ee dmple~ that be hss fnll puwNr a~Kl Ixwt~J ri~ht tu ax~vey s~Kl lanJ ia fee simple u afo-exuiJ• that it shal) lx lawful fo- tt~e ~fu~t~;aKre at al! t~mes ~a~~rYbly a~K1 yuie•tly to eater up~m, hokl, occup atKl rnpy suid Ia~Ki; that qid I:tnt1 is iree from aQ irK•uu-l-ra~Krs, iiwt iir wiU nwke soi t- lurthe~ a.suran~.~es to prat~~ct the (ee simple ti~ to wid lanc! in tl~o 111o~rtgagee as ma~r- rrawrwblp !-e rr.~uirud; Ihat he doei t~ereby Eully wurant the titk to u~id latKl anJ will dcEend the saiuo ay~iatt t6o lawfui cl~iw o( all peesan whamoeve~. YROVIDFD. ALR'AYS, that 1~ t6s Mat~gor sluU pay uoto ths Mortgagae t6e oeitalo praml~aq- note d w~hkL tbs toDoMln= lu words and flgura It a true oapy. ~awlt: CO~i11iUNITIr FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE PALM BEACHES ~qt'~~tt$e ~i1#E AIVIERA BEACEI. FLORIDA February 2, 19 81 Being indebted, for value reoeival. the nadersigned iotatly aad saveraUy promise to pay to COMMUNITY FEDERAL SAV- INCS AND LOAN ASSOQATION OF 1'IiE PALM BEACHFS at Its offioe in t6a Qity of Riviera Beach, Floricla, ur order. tho sum ~ FIFTY THOUSAND AND NO [lIINDREDTHS----------------~ ------ ~L~~ ~; 50,000.00 ~ toKed,er wtth iaterest thereon as hercinafter stated In aanthly instaWnents ~~a1 to aI1 accrued interest. ----------------------------------------=----------------- DOLLARS (~ ----- ). T6e Hrst IrutaWneat :6a11 be due and payable oa the 10th d°y °~ March 19 8j aod subseyucnt i~tallments shall be due and payablc on the IOth ~lay of euh and every calendar month ehereafter "n p~ ~ p ~~~ aFe~r~ar~ ~0 1982 o whict~ da~ ~~e entire rinci 1 sum lus a11 accrae n er s S~haZZ be ~ue an a e. I.ar~er sums may ba paid at any time. but the yment of any such larAer snr~u inpa dition to the payments herein re- quired shall not relie~~e the makers oE the payment of t~ ITIODIII~y ~ILS~BII~IICOCS IM(CIQ provided for, unless it is s{x~cifically stipu- lated by the makers at the time oEpa yment thnt such 1ar~ Ker sums are to I,e appliccl to the advance payment of d~e nwntldy irotall- ments next matunng in the order of thcir due dates. AU paynncnts made upon this note a!-all be applietl first to the paytmnt of accrued interest s.nd secorNlly upon t~e principal. This obliRation shall hear interat from Jate at the rate of SeVenteen------------- per cent ( 17 . 00 `~ ? pc~r annum until the princspal anci inMrest are (ully paid. Intcrest (or each calendar month shail be accived on the first day of said month aod be computcd on ihe unpaid balance of principal and interest e:istin~ on the last day of the prececling month. This note shall Le rnnsideral in default when any pay- ment re~~uired to be made hereunder ~hall not have been made by its due date and sh~ll rcinain in default ~intil said payment shall have been made. ~Yhile in default, this note shaU bear interest at the rate of E te _ per cent ( 18 %) per annum in lieu of the rate hercinbefore specified and Fwlder ~i~ng t~efault may at its option rcfuse to aooept payment of eny awn less than the total amount then due or declared hereunder to be due. • M makers a~xl enclorsers naw or 6ereafter ~ parties hereto joiudy aoa severally waiva dernaad, notiee oE non- pay~nent anct protest, and agree that in t6e event of defau t in the payment of any instaWaent due hercunder for a perial of tLirty (30) days the whole of said indebtedness shall thereopon at the option of lhe 6~lder, become immcdiately due and pay- able, and if this aote becomes in defaWt and is plaoed in the hands of an attorney for collectioa, to pay reasonabk attorney's fees and all other costs includiag oosts and attorncys fees of Appellate Court Proceedings for making sucL collection. 't7~is note may be preps-id In whole a tn part at any t;me without penalcy. ANCHOR BUILDING CONTRAC~ORS, INC. By: S~[FrPd R_ Mnr{yan _ TT~r~ajl]Pnt($~j,~ SIFrs~A A_ Mnrrran _TnAi v,i~a~j (Sj:AL) ~-- Fred R. Morgan, II, President Fred R. Morgan, Individually '~EAL) - -- ---------------------- --------------- ----~ - - - - ------- (SEAL) (This nntP is sec+~md by • mortgage of evea date e:ecated by the makers iu favor d Community Federal Savings and I.oan A:so. of the Palm Beaches) and s6all promp dype dorm. oomply with, and abWe by each and every tLe ~tioai, agreeme~s. oonditions, and covenants of said prom- issory note and oE thi: deed, then the estate hereby created s6all oease and null and vold. AI~'D tLe Mortg~gor dces hereby cavenant and agree: I 1. To psy all and singuLr the principal and interest and other snms af mooeY WYaLk by vlrtue af said pmmissory note and this mat- ~ gage. or eether, prompdy on the days respectively, t6e same severally oome due. 2. To pay all ond singular the tazes, asse~ssments, levtes liabilitia, obligatioro and encumbrances of every nature on said ckscribed prop- erty each and every when due and payable according to faw, before tbey become delinquent, and if the same shall not be promptly paiJ d~e MortAattee may at soy time either before or after delinqucncy pay t6e same without waiving or affecting the option to foreciose. or ~ any rip,Lt hereundcr, and every payment so macte shall bear interest from tbe date thereof at tbe rate prmrided 'm said promiuory note. 3. To keep thc bailding~ and alle ~uipment and personal property naw a hereafter oo said premises, oovered by this mortgage, iiuured ~ in a sum at kast equa) to the uupaid balanoe of tbis modgage, includiog fu'+e, Eload, a~tended ooveraqe vandalism, malieic~i~s mischief, arnl any other c~overaKe r~~c uired by the mortgagee, as to properties other than dweDln~s and fite, ~lood. e:ten~ed coverage, special-form other-penls insurance, ancl any o~er oaverrge requircrl by the mortagce, on dwellings elip,~'bje for sue6 broadeoed ooverage- pravidecl, hov-ever, d,at ~ such insurance be in an amount sufficient to oomply with any co-iasuranoe reyuiremenb coverinR same uader the lsws d tMe State of Florida, i and pro~•id~d Eurther that the policy or policies shail be written in a comp~ny or oompania and t6ra~gb ao aRency satisfactory to the ~tort- + ~agee and that saed polic~• or policiex chall be 6eld by the ~tortgagee and s6aU bear a standard I~ew York MortKagee Clause witha~t rnntribu- ~ tion, making the loss uncler said policies payable to the I-tortp,agee as its interdt may appear; and in the event aay swa of monry heeomes payable urxler any snch policy or policies, the rtortgafiee shall 6ave the oQtian to receive and apply the same on account of the indebtedoess hereby securecl. or to permlt the ~fortpagor to receive and ~sse it, of any part thereof. for ot6er purposes. w~thout thereby wai~ing ot impair- E inR any equity, lien, or n ht under and by virtue of this mortgage; and in the tveot the Mort~(aRor dces aot comp1y with this cavenant the , I-tortRagee may place en~ pay for snch iosurance, oT any part thereof, without waiving or afEecting the optioo to foreclose, or any dy,ht ~erc- under, and the full amount of each and every such payment shal) be immediately due snd payabk and sball bear interest from the date ~ ~ thereof unNl paid at the defaWt rate provided in said note and together with snch interest shall be sec~red~y t6c lien of thts m~rtgage. Insur- ance caverinR the peril of flood daa~age shall be as ~equired by the Federtl Disnster Protectiou Act oE 1973, or as ameoded, and mortgsgot i ooveoants and agree~s to rnmply in ~ll respects with t6e prev~siom tbereof. ~ 4. That mortp,agee may, at u~y time during the mortgatge term, and in its disc~etian, ~pply for e~eoewd af mort$age Suar~ntr insnranoe covering the mortAaRe e~ecvted by the nndersigned on even date 6ertwit6~pa y the premium due by reason thereof, rnd reyuire repaymeot by the undersiqnecl of ~uh amo~ints as are advanced by 'said mortaaeee. In the event of failure by the undersit[neYl to tt-pay cai~i am~unts to ; said mortgagee, sucb failure shall be c~sidered a default, and all provisio~ of the aote and mortgage with regard to default shall be appli- cabk. , ~ 5. To permi~ commit or suffer no aute. impairment er deterloraHoo of ta~dp~operty. or a~' Part ther~wf. ond npon tLe failnre of the mortqaQor w keep tbe buiWL~~ oo saW property in gnod ooodition of repatr tbe iI- ortga may dernand tbe immediate ~epatr of said build- intp, or an increase in the amount of security. or the immediate ~m ent of t~e debt 6e iecured and the failure of the MortgaKor to com- ~' ply with said demand of the MortftaRee for ~ period af t61rtY (30 days. shaU comtitute~ of ibb mortgaKe and. at tbe option of the blortgaKee. immediately mature the eatlre ~mount d priadpol ~6iterett berrby secured. ~nd immediately and wit}wut notioe~ lbe Alortgagee may institute Prooeedio8~ to foredae thb mortga~e and applp ~ tLe appointment af a Reoeiver, at 6ereio~fter Qrovided. ~ s~'~347 P«~24~3 ~ , x.~ s, - - - -- ~ , ~ `~'•-~~'~~~~~` ~~ ~,~..: