The URL can be used to link to this page

Home My WebLink About0962 TO HAVE AND TO NOLD the ume, together with the tenemeats, hero.~Itaments u?d ~ppuneoanca, unto tbe MoN~agee, in tee dmple. AhD the T~1o~tgagor does heroby cdvenant with the Mongagee that he it indeEasib~y ~eised oE wd t~ad in tee timple. th~t be haa tull powe~ and lawful right to convey sajd laad 'w Eee atmple as Joresaid; that it ~hatT be lawfui for the Matgsgee at all timape~oaWy and yuietly to eater upoa. 6old, occupY and enjoy ssld land; t6at uid land is fcee ftom dl sacuoobra~cw; that M wiU mske tuch Iun!?et auu~ancw to protect the (ee sUnple tiUe to ~id l~ad in the Mangagec as may reasoaably be requirod, that he doa he~eby Iully vrarrant the title to said I~nd and wili de(end ihe same ~gainst the l~wful elalms a! all perwm wboo~oever. PROYIDED, ALWAYS, that if the itortgagor shall pay uato the Mo~tgagee the certaln promiuory note af which the tollowin~ iu worcls and figures is a tn~e copy~ tawit: COMMUNITY SAVINGIS, F.A. ; ADJUSTAB~.E RATE MURTGAGE NO'TF ~ Rrv~u? w?a~, aoRro~ August 25 » 87 ~ Bei~g indebled, lor value received, the undersipned, herelnalter collectively ceiled the "Borrower'; jointly and 8eve~ally promise to pay to ' COMMUNITY SAYINGS, FA., or order, at its otfice at 2600 Broadway, Rlvtera Beach, Florlda 33404, or at auCh otAer place aa the hotder hereof may des~flnare, tne sum ot ~NTY NIA3E THOUSAND SIX HUNDRED AND NO NUNDREDTHS------------------ ? - oowRSCt 29,600.00 ) together wit6•iroerest tMreon as FxroTn~ftsr sbted in ma~thly te?sbilments, which u~ iubject to ~djvsfmtnt u Mninait~r s~t faifi, of : TWO HUNDRF•D SIX AND 97/100ths---------------------------- oow?RS(t 206.97 ~ ~ The first installment sh~ll b~ dve and pay~bl~ on tl~ 1St ~+Y af OCtObE`Y' • t9 $7 ~~~~4~^~ ~^i~+~~~i ~ ~hsll be due and a sble on th~ da of each and ever cakndsr mnntF thereafter un~11 tl+~ P y ISC y Y p~inctp~l and inlerest ers ~ f~lly paid. In no event sha(I the "Finst M~turity ~ste" of thti note bs exteedad beyond ths day of september ~ , 20 j] , when sll svms then remaining dve together with amv~d interest sh~ll immadi~fely b~com~ dw ~nd pay~ble. t s ~ This obligation shall bear intere~t irom ?he dale of disb~nem~nt of this Meta at tM ~~t~ of SEVEN AND ONE HALF t per cent ( SQ 96) per snnum ("Oriyinal Intere~t Rafe'~ vntil tM 30th d+Y .of June • 19 : end of the Initi~l loan Term). Thereafter an. "Adj~sted Inte?est R~te" sha11 be in effed fw euh subsequent twetw (12) monfh period ("Svbss- ; quent twn Term'1. The hotder shsll send Bo.rower a wrinen "Adjvstmen~ Not;ce" at lesst thirry (30) days bvl not mae than forty-fiw (IS) d~ys x before the end of the Initisl toa~ Term or the end of any Subsequent loen Term except the final Subsequent lo~n Term, ipecifyinp, among otMr ~ things, the Adjusted interest Rate ~nd corresponding Adjvsted Moothty Payment as ulcvl~ted by holder tn tbe m~nne~ h~ntn~fter stt forth. ~ Ac~jusiments in the interest rate ot this Note shall relale to "MontAly Median Cost of Fueds Ralio (Annualizecn(Percent~ an index furniaAe6 by ~ iAe Federal Home Loan Bank Board, an agency of ihe federal government, hereina(!er called Ihe "Index:' The interest ~ate tor eaCh $ubsequent loan ' Te~m shall be the most current available Index seventy (l0) days prior to the end ot the Current Loan Term plus ~0 ANI.) ~5~14~thS ? ( 2' ~S ~ percentage points. Increases fn the t~terest rate resuiling /rom difterences 1n tAe Irtdex as aforementtoned shall De opllonal with j the hoider, but shali De made untess Hraived by tha holder hereo( in wriNng; however, any resultlnp decreases in the interest rate shall be mandatory so as to ef(ect a reduci+on irt the monthly paymenis ~equirad during a 5ubse4uent Loan Term. The Adjusted Monthly Payment in et(ecl tor each Subse- quent Loan Term shall be an amount sutlicient to amortize the principat batance at the end of the Current Loan Term (assuminy all payments are made on or before thefr due dale until th8 end of tAe current Loan Te~m) in equal monthiy instafiments over the remalning term ot this Note from the end of ihe ~ curre~l Loan Term to the Final Maturity Date at the interest rate fo? said Subsequent Loan Term as herelnabove catculated. In the event said "Index" is ; ~ subsequently not pubiished or made available the hoider Aereot may substitute any other index permitted by the Federal Home Loan Bank Board or (ts ` successor. At each adjustment, except the first adjuslment, to which this Iimitation shall not apply, the maximum interest rate increase or decrease shall be 'j'~j~ ( 2. j percentage points. At no time du~ing the entire term ot thJs Note may the Adjusted lnterest Hate be more ihan or less lhan FIVE ( rj . ~Q ~~~centage points oi ihe Adjusted interest Rate for the firsi Subsequent Loan Term. ; Imerest for each cakndar month shell be scuved on the fFrst day of ~aFd month and bs mmputed on fhs unp~id bsi~nct of prMdp~i ~ and interest ex7iting on the last day of ~he preceding month. This Note shall kx mnsidered in default when any psyment required to b~ ~n~ ~ hereunder shali not have been made by its dve date and shall ramsin in default until :~id payment shdl haw been msde. V11hik in daf~vlt, ~ this Note shsll beer interest st the rate of threa percent (3%) per snnum in excess of the rate hereinabovt ~pecified, ~nd holder dwing d~f~uh ~ m~y ~t tq option refuse to eccept payment of any ~um le:s th~n the total amount then due or 4ieclared i+erwnder ro M dw. ; All maken and endorser: now w hereafter becoming p~rties herero jointly and severally wa;ve demand, notin of non-paymtnt u?d pro = test, and sgree that in the event of defavlt in tF~e payment of ~ny inst~llr,xnt due hereunder iw a pe?iod oi thirty (30) d~~n the whol~ of aid ~ indtbtedness ihsll thereupon at Ihe opfion af the Falder become tmmediately due snd payable; and, if thii Nots bccortKS tn d~(~~It «+d Is pl~ad in tM hand: of an attwney for collection, to pay reason~bl~ snwney s fees and all other costs incivd~ny costs ~nd stforn~y~ f~es of spp~t(N~ cavrt proc~edtnpt far m~kFng :vch collection_ This Note m~y bs prepaTd in wiwfe or in psrt at ~ny time without penalty; however, •II pr~paymMh thal! br applied to th~ nducHon o~ principal bal~nce. Putia) prepaymenfs shall not del~y w dafer tFx dus dates of sny momhly payments unltis the hotder pn~f (n wrhhq fo those delays snd sh~ll furtF~ermore only affect the amount of iucceeding monthly insNllmenn becoming due ah~r the tnd of fM the~ C~rcent I lwn Term. My notica to Borrower provided for in this fYote shall be given by mailir?y such nottp ~ddrysrd ro 6arowor ~t tlf~ ~ddrta of fM ; mort9~y~d property ~ec~rtng this Nota or ro svch aher addreas a eorrower m~y d~tign~t~ by writt~n notia to tM hold~r hKeof. Any notic~ to the holder of thi~ Nott shall be 9ivan by mailing such nortce to tfir holder at the ~ddresi st~ted in tM first pua9nph of M& Nab w tt :uch add~et~ af may b~ de~iqnat~d by wrlttm notice to eorrower, The indebtedness evidenced by thls Note is secured try a mortgage of evert date executed In famr ot Community Savinps, FJ~., and a detault under said mortgafle sAatl constitute a delault hereunder. s/WILLIAM A. JORGENSEN s/GAIL E.L. JORGENSEN ~y ' • E. L. OR ENSEN (s~?t) ' ~s~?U and shall prompdy perforni, comply with, and abide by escli and e~•e ry the stipuiatioru, agrcements, conditions, and covenants of sai~ prc,m- issory note anc! of this deed, then the estate hereby created shall cease and be nul) and void. O R ~ AtiD the ltortgagor does hereby covenant ~nd agree: g(~~~( ~ 1. To pay all and sin~ular the principal and in[erest and othcr sums of money payable by virtue of said promissory note and this mort- ~;age, or cithcr, promptly on thc days respecti~~ely, the same severally come due. 2. To pay all and sin~ular the tazes, assessments, levies, liabilities, obli~ations and encumbrances of every nature on said described prop- erty each and every when due and payat~le according to law, before they become delin~utnt, and if the same shall not be prompdy patd the :~tortgaFef may at any timc eithcr beforc or after delinnuency pay the same without waiving or affecting the opHon to forodase. oi' any ri~ht hercunder, and every payment so made shaU bear interest from the date thereaf at tha rate provided in said promisaory note. ~ 3. To keep the buildings and a11 e~uipment aad personal property now or hereafter on said premIses, oovered by thLt modgage. itwred ~ in a snm at least equal to tne unpaid balance of tnis mortgage, including fire, flood, extended coverage vand~lism, maliMous mischlef. aod _ ony other co~•era~e required by the mortqagee, as to properties other than dwellings, and fire~ flood, erten~ed oovata~e. specW-form otber•perlL It.~_ v- . _ _ ..R--,~?~::... . _ - -