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TO HAVE AND TO HOLD the same. together with the tenements. .hereditaments and appurtenar;ces unto
the Association, in fee simple.
AND the Mortgagor does hereby covenant with the Association that he is indefeasibly seized of said land
in fee simple; that he has full power and lawful right to convey said land in fee simple as aforesaid; that it
shall be lawful for the Association at all times peaceably and quietly to enter upon, hold~ occupy and enjoy
said land; that said land is free from all encumbrances; that he will make such further assurances to perfect
the fee simple title to said land in the Association as may reasonably be required; and that he does hereby fully
warrant the title to said land and will defend the same against the lawful claims of all persons whomsoever.
PROVIDED ALWAYS that if the Mortgagor shall pay unto the Association the certain promissory note
of which the following in words and figures is a true copy~ to wit:
Form No. 2A-Re~ised 11! 71 (S73-SM)
FIRST FEOERAI SAVINGS AND LOAN ASSOCIATION
OF THE PALM BEACHES
~Cortgage ,~ote .
g 24,000.00 West Palm Beach, Floridu February 7, 1974 ~
After date, for aalue received, 1 promise to pay to the order of F1RST FEDERAL SAVINGS AND LOAN
ASSOCIATION OF THE PAL:W BEACHES, at the og'ice of said Association, in West Palm Beach, Florida; the sum
of TWENTY.FOUR THOUSAND AND NO/100--------------------~__________ Dollars(S 24,000.001
together with interest as hereinaf ter stated; in monthty insta[lments of
_ TWO flUNARED NINE AND NO/10.0-------------------------------------- Doltars~S 209.00----i
each, the first payment to be due on ihe lOth day o f June, 1974 , nnd subsequent payments to be
due thereafter on the same day of each succeeding month untit all sums, principa! and interest, be fi~tly paid.
• Atl payments shall be first applied to the payment of accrued interest, and the balance remaining shall be
applied to the ~?ayment of the principal sum.
Interest for the remainder of the first caiendar month shall 6e charged on the date hereof, and be rnmputed
on said principal sum. Interest for each caiendar month thereafter shali be acerued un the first day of said ~nonth,
and be computed on the unpaid balance of principal and interest eristing on the [ast day of the preceding calendar
month. Interest shall be paid at the rate of EIGHT AND ONE HALF--------- per cent f 8 lI2`ic1 per annum
~ on all unpaid balances, ~rovided, however, that while this note is in default as hereinnfter defined, at the option of 1
E the holder hereof, inter,est shali be paid at the rate of nine per cent /9c'oJ per annum on all unpaid balances, and !
~ the monthly instaliments sha!! be incr~ased to an amount which will fully pay said note as soon as if it had not
s become in default.
~ This note shall be considered in defautt u~hen any payment required to be made hereunder shall not be paid
~ when the same becomes due, and shall remain in default until such payment shall have been made_
~ This note may be prepaid, in whoie or in part, before maturity without penalty; provided, howeLer, ihat any ~
; amounis prepaid may be re-applied, in whole or in part, by the Association to o~fset payments which subsequently
~ aecrue on this note.
~ All persons now or hereaf ter becoming parties hereto severally waive demand, notice of non-payment and
S protest, and agree that in the event any indebtedness due hereunder remains unpaid for a period of thirty (30)
~ days, the whole of said indebtedness shall thereupon, at tlie option of the holder of this note, become immediately
~ due and payabte; and if this note becomes in default and is placed in the hands of an attorney for coliection, said
~.i persons agree to pay reasonable attorney's fees for making such colleciion.
~ ~ F
~ /s/ JOSEPHINE B(?ROVINA. . fSEAL)
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~ (SEAL)
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rv:; and shall perform, comply with and abide by each and e~~ery the stipulations, agreements, conditions and cov-
enants of said promissory note and of this deed, then this deed and the estate hereby created shall cease and
be null and void.
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= AND the Mortgagor does hereby covenant and agree:
1. ?o psY all and dn=ular fhe prin~ipal and interest and other sums ot money payable by virtue ot uld prom3~sory note and this mortea~e, or either,
- promptlY oa t6e dals resPectively, the same severall~ come due.
y. Tp p~y a11 and s(n~u(ar the W[es, asseasments, levies, liabilities, obligations and eneumbrances ot every naWrc on said deseribed propecty, on this
- mort~a`e or note, or in an7 w~y rewltin~ from the indeDtednesa aecured by this mortsage, each and every wAen due and payable according to law, be(ore ~
= they become delinquent, and U ihe wne shall not be promptiy paid the Association may at anr time either before or atter delinquency pap the same without ~
r wafvin` or aftectln~ the option to toreclose, or anr ri`ht Mreunder, and every paymrnt w made shall beoome part ot the indebtedness secured by this ~
~ mort`ase, and shall bear interest from the date of payment thereot at the nte provided in the promissory note secured hereby; and every paymenl so made,
z- and interest tAercon, shall be repaid by the Mortp6or to lhe A:sociation in weh manner ~s the Association shall requirc. The ~[ortpsor further a`rees to
deliver to utd Asweiation, on or betore March ISIh ot each year, L: receiptt evidenci~~ the payment of al! IawfuUy imposed taxq for the precedin{
calendar year and to deUver b said Asfoeution, receipts evidencint the payment of all liens for public improvements w~ithin ninety (~0) days after the same
;~`a shail becoF~e dut and pt7able.
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