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Home My WebLink About1630 PRdr'tDED ALrYAYS. that if Mortgago~ shall pay Mortgagec the sums s~~tied in that rert3in m~niissnry n~tc substantially copied or idrntifxd betow. taNit: /nslallment .Yole ~ ~ , ~ ~ ~ Hot~e souod. • Ftorida. ~'j,'~1~!' / . ~ 9,L. ~ For rnlue received, the undersigned pmmisea to pay to the urder of HOBE SOl1Np NA7~IGNAI. BANK, a national h:in~C!n~~u~sa'd t~~d ~~~~c~l otfi~~e in Hobe Sound, Florida, the priacipal sum ot ~_4~~ig,~. _ vo ii!' Dr~llars (S 34s000.00 ~ i wgether a~th interest from at the r~tc of dd*~ ~nd tLt~es L atrter• ~ 3 ~Y i per cent per annum on the unpaid halance. 'The prin~ipal and interest shall be p3yahk in ~uat instaliments of ~ Dollars (~,~_~l~flD ~beginning on the day oi-~~~~ L / 19.~_, ;tnd on the - day of ea~ h t herea i ter unti l t he entire sum hereun der has been fully paid. ' 1. All payments shall be first applied to interest on the unpaid balance, and then to principal. This nute sl»II t?e in de- fautt w~hen any pa~•ment is not paid within I S days of its due date. While in default. this note shall bear interest at the rate of_,,,.Q~ ~cr an~um_ If this n~~te is in default for 15 days the aggregate unpaid indebtedncss shall, at the option af the holder, berome immed- iately due and p~~~able. The makers and endorsers hereof severall~• waive demand, ~~~tire and protest, and any defense by reasun of e~tension uf time for pa~~ment ur other indulgence granted by the holder, and further agree to pa~ all costs of collection, inrluding a rrasonable s ~tturneys fee, if this note is in defauit and is p1aceJ in the hands of an atrorney for colle~-tion of it it becomes necessar}• to protect the ~ ~~urityhereof, H~helher ,u nt~t a compiaint is filed. This note shall be the jaint and several ubligation of all make~s. surcties, ~uarantors ~nd endo:sers ~nd shall be binding upun them, their heirs. personal representatives, surcessors and assigns. 3. If the effect of any psrt of the loan transactiun evidenced by this note results in interest (ur charges deemed ro be interest) paid or to be paid t~i the holder, being in excess uf the permissible civii uaury limits as est:~blished b: the lak•s ui Flurida, then such excess wrilt be prompdy refunded_ 4. This note may be prep3id in part or in tull at any time without penaity. \'o parti:,l prepayment, howe~~er, shati reiieve rhe msker of paying the regul3r pa}•ment, ~SEAL) S - ~ • L t/ _ (SEAL) ' (SEAL1~ ' ' A i~"/'l. ~ , (SEAL? • : and shall also perform and comply with all the tPrms and conditions of this mortgage, the estate hereby created shall cease and be null and void. - TERMS AND CONDITIONS: MORTGAGOR dces hereby coaenant and agree: 1. TAXES AND - ENCilMBRANCFS To promptly pay the taxes and other govemmental levies, judgments, liens, and other encum- brances wluch now or hereafter appeu to be a lien on said property; Mortgagee slull be the sole judge of th~ legality of such encumbrances and the amount necessary to be paid in discharge thereot; and to deliver to 1lortgagee receipts for the payment of- the preceding year's taaces (prior to March 15th annually) and, other governmental levies (within ninety (90) days f'rom ' due date). 2. INSURANCE To continuously maintain fue and windstorm insurance on the mortgaged property of such type and unounts u the Mortg,~gee may from time to time require. but never less than a sum equal to the amount of the mort- ~age, or an amount wfticiont to comply with any co-insuraace requirement under Florida law. All insurance shall beu the standard New York mortgage clause without contribution and shall otherwise be in a fo:m and with companies acceptable to Mortgagee. The poticies and renewals thereof shal) be hsld by Mortgagee. Mortgagor shaq give immediate notice by mail of ~ any loss, and Mortgagce may make proof of loss if not made promptly by Mortgago?. Each inwrance company concemed si~all make payment for such loss directly to Mortgagee, as its interest may appear, (instead of jointly) and the insurance proceeds may be applied by Mortgagce. as its option, either to reduce the indebtedness hereby secured or to the restoration of the property damaged. In any foreclosure, or othsr transfer of the mortgaged praperty in extinguishment of the indebted- ~ess secured hereby, all interest of the Mortgagor in said ir~surance policies shal) pay to the purchaser or transferee. If the parties hereto agree, Mortgagor will carry life insuranct upon their lives, in an amount equal to the aggregate unpaid indehted- ness secured hereby, with Mortgagee nemed as berKGciary. 3_ WASTE To keep the mort~aged property in its present condition, reasonable wear and tear expected, and to commit or petmit no waste of the mortgaged property. 4. CONVEYANCES JUNIOR LIENS AND ADDITIONS To permit no foreclosure or execution proceedings to be initiated on any junior lien and. in any event, shall iuamediately rsotify Mortgagee in writing of any litigation affecting ihe mortgaged property. Thc title to the - mortgaged property shall iot be transferred without Lhe written rnnsent of Mortgagee. In any event, however. Mortgagee may deal with successors in inte:est in the same manner as with Mortgagor. ~nd may forebeat to sue, extend time for pay- ment of the debt, or otherwise act without affecting the liabiiity of the Nortgagor hereunder. To ercct no new or additional structura, and make no additions or alterations, u weil as r+o derr~oiition~ dismanteling or removing any of the existing~ rnQ:tgaged property without the prior written consent of Mortg,agee. ea x211?~c:'~6?~ - = _ , -~F _ ~ r ~ ~r.~ ~ . . F . . . . ' . ...J - -<:.ajC±v