HomeMy WebLinkAbout06427'O IiA~'1~: AI~D 'I'O lIO1.U ll-r sawe, togelhe~ with U~e tcue~ncnts, lu•n~clitamc~~ls aiKl appurteuana~s, untu Il~c Atu~tbu~;~r~, in tee: sunple.
A\D t~-e Alonka~u~ does I~e~eby ~p~r~wnt with the I-to~tga~ee tl~at iw is inJe(r:uiLly seicc~l of s:-id la~Kl in t4ti+ si~nple. that lw h~s
puwe~ aud I:t~~•fu) right to convey wkl land in E~v~ siu-pM as afor~ ~:~Kl; U-;~t it a!-all be I:iwfu) for d~e Mongageu at all tin-rsp~ acrahty
quiedy to cuter o(~on, i-ukl, ~xrupY and en)' said IunJ; thnt said land is irre fran nU encu~nbrancrs; that I~e will mske sucl~• furtl~er
ancti~s to protect tl~e fee siu~ple title to said~a~ul in the \1or1gug.v :u may n•axnwbly Ix~ flVjUl(IYI: ihat In• das hrn•by hdly warcaat
'itle to u~id laud and will dehiKl th~ aau~e agait~.st U~e Iswful claims of ull jx•rsu~u wharuoe~~er.
PKOVIDED, AI.\VAYS, that if the Mo~tKxgor sl-all pay unto the• ~to~tkugcc the crrtain p~oiniswry note of wtiich thr fuUowuig iu
's ancl Fiyjurr.s is a M~e coPY. to-wit:
COMMUNITY FF:DFRAI. SAVINGS AND LOAN ASSOCIATION OF THE PALM BEACHES,
RENEGOTIABLE RATE MORTGAGE NOTE
RIVIERA BF.ACH. ~I.ORI[1A February 6, ~~ 81
liring indeb~eJ. fur ~alue r~tiei~itif. thr undrn~knc~l. herein•r~~er ~ollectn•ely calkvl ~he "Borrower", laintly and sn•erally ptomist to pay to
C'O~1~1ltNITI' FI•DI~R,11 tiA~'INGS A\1) 1OAN :1Sti(X'IATION nf "THf PA1 \1 81•ACHGS, cx orde-, at i~s otfice at 21500 &oaAway.
Ri.~cra Neach, 1 lunda ~1~11-t, ur rt wrh uthrr pl•r~t a~ Ihr hoWet herrt-( ma~• Jt~ignalr, Ihe wm o( SEVENTY SSVEN ~
TNOUSAND NINE IIUNDRED AND NO NUNDREDTHS------------------ ~~~ «RSIS 77,900.00 ~
toRdher Nith inten~~ ihcnY~n a. herrmaf~rr ,tatcd m monthly ~n.~allmrnt. of OAC' Thousand Th2Tty On~ and
88/100---------------------------------------------------tx~t~aRS1S 1,031.88 1-
I hr lir~~ ~n,~allmem .hall tx duc anJ pa~ablr un ~hr 10tt1 ~I•~> i1 Jul y . 19 81and subsequem install-
mrnt~ ~hall he dur anJ ~u~aAlr un Ihr 10th ~~>• ~'I rach and eccvy catenJar mumh ~hereaf~er umil tht 30th ~y ~~ June
ly 84 ~r~~d uf the "Ini~ial I:oan 7erm"1, when ~he ayu~anJmg ~-rincipal balanre to6elher with any aecrued and un-
~+aiJ i trr~ ~h txY r due and vable, unlecc ByrraNn eler c to extend th? term uf thi N as h~rtinafter set forth.
(fnts~ ~~e ~irst pa~inent mentsoned a~ove, interest s~a1~~ be due and payable monthly.
Prior to the cnd of ~he Iniuat 1~un lr~m a~ w~~ll ac wAcequent Rencrval I.oan Tcrmc, Bwrower shatl have ~he option ~o a~rnd the term ot
thi~ Nii~e txyonJ thc enJ af Ihc rurrrm 1 o:wn ~crm fur aJd~tional separatr thrte 131-year ~+cri~xls ("Renewa) Lwn 7erms"-, at Iht intetest ~ate and
momhly pa~•mem. hrrrmaf~cr ~et li~nh. f'ro~~Jed, huNr~er, the final Renen•al Loan Term may be for a periud of less than three O) years so that in
no e~ent chall the "I inal tila~uri~y I>atr" ol lhi~ no~e t+r r~tcnded txyond !he lOth day of ,~une •~ 11 •~"'~ ~~)
.um. ~hrn rema~mng Jue ~ug~yhrr ai~h accrurd interat ~hall immniiately berome due anJ payabk.
This obli~a~~un ~hall bear m~rre~l trom Ihe Ja~e ~~f dicbunemcnt of Ihi~ Note at ~hr nte of Fifteen afld three/quarters
~ar rrnt 1 15 , 7~ ''•1 (+rr annum 1"(higinal In~crnl Ra1e") un~il the cnd ot ihr Iniuat Loan Term. Thercatter a"Renewal Inlerat Rate"
~halt be in e(fecl (or each whuquem Rrnrwal L~wn 7 erm. The hoWer ~hall tiend liorruwer a wntten "Renew•al Naioe" at kast ninely (90) days
lxfnre Ihe end oi the Imtial Luan 1 erm o~ the cnd of am Rene~+al I.oan Term eiceM the final Renewa) I.oan Te~m, specityins that unlect this Nde
i~ paid in tull on on c~fi-:r the end o( ~he rurrrnt Loan Tcrm, it Nill Ix aunxna~~.allv rcnewed for an additional Renewal l.oan Trnn at the interest
ratr and mun~h~y payment ~~~h~Y1 m w~J 'Vuliic :~. cakalated by hulJrr in Ihe manncr heteinatler tcl forlh. ,
Ad~u~imrnn in Ihr mtrrr~t ra~e uf thic Notc aRcr the cnd of ~he Initial Loan Icrm shall be baud un chanaes in the "Monthly National
A~ense CoAtrart Int~ra~ Rate on the Purcha~r o( Prc.iuu+ly-Ckcupied Homes (or all Major LenJers", an inJex furnishrd by the Fedenl Home
1 oan Hank H~ard, an agcn~~• af Ihr IeJcral gu~ernmcm, hereinaher callctillhc "InJri". The interest nte for each Renewal l.oan Tetm shall be 1he
Ung~nal Imrn-+t Ka~r plu+ ~he changr in thr In~e~ a. meawred by ~tic J~f(ererne bc~wrrn Ihe mus~ currenl availablt InJea at the time of 1he
Rrncwal Pioucr -rnJ thr "lia+e Indri Nate". ihr fiax InJex Ratc ~hall be ~he mu.1 rnent a~adable Irxlrx on Ihe 30tt! d~~ °~ JeJlle
, . 19 g] . Incrca.c~ ~n the ~merat rate rr~ultmg from ditferrnceti in the Indea as a(orementioned shall be optional
Nuh ~he hokfrr, bu~ .h~ll Ix maJc ~mlr+~ wai~~d by thr holdrr hrrrn( ~n Nriiing; hi.wrver, am• rnulung dcrreasc~ in the intnnt rite shall be manda-
tor~ w a~ Io tffccl a ntilu:tiun m ihr mumhly pa~mrnt~ reyuirrd dunng a.uMoyutn~ Rrnev-al Loan Term. Thc monthly pa~mrnt in eftect for esch
+uh,eyurnt Renew:+l 1:-an Irrm .hall I+r an amount su(fiiicnt to amonirr ~he principal balance ai ~he end ot tht currrnt Loan Term ~auumma all
pa~ mcnl+ are made on un c~l~~rr ~hru dur datc uniil tht end of ~he ~urrcnt 1.~-an Tcrmt in eyual monthh~ in+tallments o~er ths remainine term of this
Note from the cnd u1 ~hr rurrcnt I uan lerm to the 1 ~nal ~1a~uriiy Date at.~he intercti~ ra~e for ~a~d Rcnewal I.uen Term as hernnabore cal:ulated.
A~ rtncw:d ~hr ma~unwn mirr•~t ratr u~.rca.r ur dn~r.a~r .h:dl tx onc :u~J unc half (1-'. i 1 prrr~mrKc ~xnm~ q1 m- hmc JunnE ihe rnlire
~erm ~d th~~ N~i~c ma> thr Ficnrwal In~cr.tit R:dr hr nwre ~han In~ ISI prr.rnu~Kc ~~o~~. u~ care+. ~~( ihr OnKu~~l Imae~~ Ra~r ur more Ihan fivt (S)
prnentapr ~x~~nt. Ir~. than thr Un~em~l Intrre-+I Katr
Intcre.~ fi~r ra.h iatrnJar munth ~hall hr arcru~Yl un ~hc fir.i da~ ~-( .aid munth and hc rumputed ~~n the unpaid t+:drnce of {xin:ipaf and
mlrrcht e~~~Ung un Ihc la~~ Jay ~il ihr prcic,lmK mon~h fhi~ Nu~c ~h~ll Fx canciJcriY1 m drtaul~ wh~n anv pa~mcni reymrrJ ~~. hc maJe h~reunder
.hall no~ ha~c hecn maJ~ M• ~~~ Juc J:ur rnJ .hell rrinain in Jrtault wiul w~J pavm~M .h.dl ha~r t+ren madr N hdt in defrult, thi~ NiNC +hall hear
mtavnt at thr ra~c i~f ~hrer pc't crnt ( tril (+~r annum m e~rc.~ ~-t ~hc ratc hcrcmhrfure ~~xt~f~ed, and hulJer dunng defauU ma~ at ue op~i~~n refuse
tn arrrps pa~~men~ ul an~ wm Ic+~ ~han thr a~~al amuunt ~hrn duc or Je.lareJ hr~runder w he Jue.
All maArr, and rnd~~ncr~ now ur hrrrat~rr t-crumiog p:uu~+ hcre~o ~omih auJ .e~rrally w-r~.e demanJ, rnNk-e ut non•paymcn~ •rnd prute,~,
end aKrn 1ha1 m Ihr r~rnt ul Jc(auh ro ihr paymrm ul anv im~allmrnt Jur hereunJrr tur .i peri~xf of ~hrc~~ 1~11-Ja>. ~he Nhulro( ~,ard indet~trdnrs~
.hall ~hereu~xm at ~he ~-ptiun ut ~hr holJer hrc~~mr imm.~l~ateh Jur anJ {~:~~ablr.:u~J, ~t thn K~etr t+ecomi~ m dtlault and ~. plrre~i in ~he han~ls of
an atlurnry for .uIIr.l~uo. u~ pay rra.unahlc anurnr>'+ tcr. anJ all ulh~r co~t+ mrludin~e rmt, and auornc~~ Irr. e~f appellate rourt praxenfings for
m:~1.~nK .urh i~~llil~nm .
1 h~. !`~~tr n~.~ti hc prrp~id ~n wh~~l. ~~~ in f,ar~ .~~ em ~imr un ur :,ncr nmrn 1`Mq dav. pn~~r ~u thr rr~J ut ~h~ Imtwl 1~wn 7 rrm. If thiti Nwe ~.
pr.~cu.: m whulc ~~r u~ ~.u~ !n•turr uin.•n 1'Mq ~law pn~~r H~ Ihrcnd ~•I thc In~hal I uau lcrm. ~hr unJer.~Knnl ~hall prc 1~~ Ihe huWer htrrnf a(+enall•
~•1 .~~ ~n~~ml~.' mi~ ~~ .~ .•n ~h~ .~n~..un~ bt •.~hi~ h ih~- ~.n~u ~d ~.~.•~..~~m,•nr. ~n.~Jr ~n .u~~ n~.•I~r ~nnnll~ ~w-rnrl r~.citil. Iwrn~~ ~~~cnt (2lN'il ~~f Iht
~•nv~n.~: pnn.i~~.~l ~~1 Ili~ ti~~i~
-\m n~~Ucc t~~ IM~rr~~NC~ ,~~~~~idr.l Irn ~n ihi. ~i~.tr ,h:Jl ta• ~i~cn 1.~ m.utmE~ .u~h n~~u.r aJdrr..cd w li~~rruwrr at ~hc adJre+~ i-( ih~ nxnl
~~vrJ pr~~~ar1ti .i~w~u~ ~hi. \~.~c ~n t~. .INIt IN~It't .NItI/P~~ J•. I~Uf/UNl'1 mav Jr.~~na~r b~ w~ulcn n~w.r t~~ Ihr huldrr hr~rad Any n~Ni~r tu thr
h~~Wtr ut Ih~. \i~~r .hall hr a~~cn Ir~ ~~i~i6nK w.h n~:u.c tu ~hr huldrr r1 ihr ~JJrr...l:~~r.l ~n ~hc I~nt ~raKiaph uf ~hi. Kac or a~ ~uch addres, ac
m:n hr dr~iNna~rd h~ wnurn uuU.c tu 14~rnrwc~
Ihr ~nJrMcdne~~ r~~Jrn~rd I.~ ih~. \u~~ ~..riwrJ h~ ~ rnun~a~er ul r~rn Jetr r~r:ot~J m fa~or of (~~mmumly f ederal Sa~inas and [.wn
~~..~w~auun u! ~hr I'.Ju! $A•:~.hr+
J.~rrk~s Ric-h.~rc1 Bc~hrus
111 •11 1
ItiFAI ~
2~rila Jeane Behres
~~I ~V 1
111-AL1
shall promp dy perfom~, mu~ply with, a~nl af-ide by each and every the stipulations, agreements, conditions, and co~•enants oE said prom-
7• note ancl ~f thix deed. then the esG~te hereby created shall cr:~.c~ ancl 1~e null arxl ~•oid.
A~D the ~fortgaRor does hemby c»~•eu.mt and aKrcr:.
To pay all anrl sinKular the principal antl interc~t and oU~er ~wns r-f n-oney pay:d~le by ~•irtur of saicl promissory ~wte and this ~nort-
•, or cithcr, pro-npdy on the days respecti~rly, the same seveerally come due.
Te pay all ancl sinR~dar U~e taxes, as.cessments, levies, liahilities, c-bliAatior~s and encumbrances of every nature on said described prop-
each and e~•ery when due ancl payable acconlin~ to law, beEore th~y bec.~ome delinquent, and e! the same shall not be promptly paid
~tortKa~;ce may at any time either hefore or after delinquency pay the sa~ne witfwut wai~ing or affecting the option to Eoreclose~ or
riKht h~rennder, ancl every payrncnt si~ madc sha11 bear interest from the date themof at the rate provided in said ptomiaory~ note.
To kecp the hoildin~s ar-d all e~~~~iprncnt and personal propcrty now on c~reafter oa said premises, rnveted by ihif mortgage, iasnred
sum at least eyual to the unpaid balance of d~is mort~tage, includin~ fire, floal, extended cmerage vandalism, malicious mischief, and
other co~•eralee rcY~uirecl hy the mortAastee, as to properties other than dw~llin~c.c, and fire, flood, e:teo~ed ooverage, special•form other-perib
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