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Home My WebLink About0641 • ~ PROVIDED. ALWAYS. that if the MortE, .tall pay unto the Mortgagee the certain promissory note of «•hich the following in words and figures is a true copy. to-wit: - G~ HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF PALM BEACH ~~~~$P ~'~#e - Poles {tench, Fbtido. 1! leLrO iadebad, for wlue received, the undersigned ioindy and severalty promise h pay to HOME FEDERAL SAVINGS AIVO LOAN ASSOCIATION OF PRIM (EACH d ib ooice in 1M Town of Poles tench, Fbrido, or order tM ww o1 Sixty Seven Thousand Nine Hundred and No/100 oouARS (s 67900.00 ~ logedrer tsdth intetttat iMreen a heninafhr tttated in wonMfy irntollarenb of Seven Hundred Ninety One and 71/100 pawls (s .79.1.71 1• TM ftnt etaatbly indollwent ttlwl) be des and poyobb on Me 20th day of May 19 $Q atsd wbaeawrst instolhteMs shop be due and poyable on the 20th day of cads oed awry tobstdar rtawM iMnaftar vnN) Me prlecipol and inhnst pro fully paid. AR poymenb shall be opplied first to in»rest on the unpoid bobnce of Me roh Mein 'apotifiad and Ilsen h print3pol. Any awotrrrl ~ 1s• propoid without prewiuw or fee upon this obligot'ron of ony titres, and interest shall be mkubted of oll tiwN on Itre vnpoid babwee ors the dtafyr rote bosh of t/360th of eha onnvol rota per day; provided shot the Asweiofion, for a period of ties (S) ywn frow the doh hereof, shop haw IIN right b tequfn payarent of nol won than one hundred eighty (160) days odvanq interest on that part of the oggregah owovM of ap wlvnlory pnpoynwnb {code ow the bon in ony one year which exceeds 20 perunt of the original prinr;ipol owouM of the loan. TMnofhr, prepoyMM o1 the entire unpaid principal will _ba perwithd without penolty. The poywent of larger sows in addition fo the payresenb Mein regvirod dwR act ntbw tlw waken of Me poyrtaent of 1M trsonlhly instollweMS herein provided for, unless (t is specif"iwlly stipvbted by the woken at Me tiwe of payment that such beget wws ore to be oppfwd h the odvonce payment of the naooMly installwenb next woturing in Me order of thei? des dohs. Thi. obligation .hen t»w iahntt frow eat. at th. rot. of Thirteen and Three-Quarters aa"t ( 13.75 xl ~ . par aanuw uah9 the principal and interest an fully pod. A payment is delinquent and_ this rota shop M conirdend in dafauk when ally poyMnt squired to be wode heninunder shall not haw bean mode within fifteen days following its des date and shop newts in defovh until twirl poytrwat shop haw bean wode. While in Me-first rnonM Mot ony poywsret is delinquent, Me Assxiotion shall how Me right_ to nqu'rre and rer:eive paywent of not won Man 596 of Me opgregah owount of prindpol and interest included in and in oddiYron to the delingwnf poyrnent. All awksn and endorsers haw w Mreafter becowing ponies hereto ioinHy and severally woive derttand, noYrce of non-poywant and proMt, cad agree Mat in 1M avant of dafauk in Me poyrwenf of ony instollwent due hereunder or in the event of ony dafouh under tM mortgage dead securing Mtis note the whole of sold indebtedneat shall Mereupon at Me option of the holder, become iwwediotely dva and payable, and if Mis soh bet:oases in defouh arsd is pload in tM hoods of on ottomey for collection, to goy nosonoble ottorrtey i fees including but not Gwihd to, aR fep and soeb t incident to orry appeals whirl way rewh, and oMer costs .for Woking such collection. ` (This soh is severed by a worpoge of ewn.doh executed by the makers in favor of Home Federal Savings and bars Auociattow of Potty leach.) - ---~S/THOMAS..P.-.--MEYERS.......:......... lsEAt.) ~S~_ ...BETTY... MEYERS (seAU - THOMAS MEYERS BETTY MEYERS ~ - D (SEA[) - _ r - - ~ r 3 f - t l A PREPAYMENT PENALTY WILL NOT BE ASSESSED IF THE LOAN IS PR P f 1 and shall promptl} perform, comply with, and abide by eac1T and every the stipulations, agreements, conditions, and covenants of said promissory note and of this deed. then the estate hereby created shall cease and be null and void. AND the b4ortga~or does hereby covenant and agree: To pay a!1 sod singular the principal and interest and other sums c1 money payable by virtue of said promissory note and this mortgage, or either, promptiy on the days res, ecr;ve'y, the same severally come due. ~r 2. To pay all and sang;lar r'r:e taxes. assessments, levies, fabiGties, ob!igar~ons and incumbrancas of every nature on said described -property each and e:e•y v.~en due and parab'e acccrd.ng ro taw, before they become delinquent, and if-the same spa!! net h~ "rompr!y paid the Mortgagee may at any time e•~er before cr after de!.a~uencv pay the same without waiving or affecting the option ro fore:'osc, e• any right hereunder, and every payment so made t^a!I bear imeresr from tree dare thereof at the same rate as the mortgage note, payable semi-annually. 3. In ordei to provide for the payment of taxes, assessments, insurance premiums, and other annual charges upon the property stewing this indebt- edness, 1 promise to pay monthly :o the mortgagee, in addition to the above payments, a sum estimated to be euuivalent to 1 ~ 14th of such items, wfiich payment may be held by the mortgagee and comrttingled with other funds its own funds without interest for the payment of such items. If the amount estimated to be suff;uent ro pay said items is not sufficient, 1 promise ro pay the difference upon demand. The provisions of this paragraph are solely for the added protection of the mortgagee and entail no responsibility nit the mortgagee i part beyond the allowance of due credit, witfiout interest, for sums actually received by it. Upon the occurrence of a default under this mortgage. the mortgagee may apply all or any part of Jhe accumulated funds then held, upon any obligation secured hereby. To 4eep the b,~!d~cgs anrt a'I eavipment and personal preperty now or nereafr~on said prs^+ises, covered by this mortgage, inwred in a sum a! least eaua! rc the ur.aa:d beta^ce cf this mot+gage, including both fire and e>,tended coverage insurance, p•oY~ded, however, that such insurance be in amount sufficicn• to comply w~rh env ce-insurance requirements covering same under the laws of the Stare of Florida, and provided further that the policy or policies shall be wr~tto_n n a company or companies and through an agency aa~isfecrory to the Morr.:age^ and teat said policy or policies shall be held by the Mortgagee a^d shar•I bear a s•a^dard New York Mortgagee Clause withot;t contribution, making the loss under said policies payable to the Mongagee as its interest may appear; and .n the _vent any wm of money becomes payable under any such policy or policies, the Mortgagee shall have the option to receive and apply the came on a.'cc~nt of the indebtedness hereby secured, or ro permit the Morteagor to receive and use it, or any part thereof, for other purposes, without thereby wa~v nq or ,mpa~nrq any equay, lien, or right under and by virtue of this mortgage; and in the event the Mortgagor does not comply with rhos co-:enanr the Mortgagee may place and pay for such insurance or any part threoF witt.ovt vvaivmg or affecting the option to foreclose, or any right hereunder and each and ever -,ant so made shad bear interest from the date thereof at the same rate as the mOrt a note, v Pa::. 9 9c payable semi- annually. S. To permit, commit or suffer res waste, impairment or deterioration of said property, or any parr thereof, and upon the failJrt of tht mortgagor h kelp tM buildings on said property in good condition of repair, the Mortgagee nay demand tot immediate repair of said buildings, or an increase in the amount s of security, or -the immediate repayment of the debt hereby second and the failure of the Mortgagor to comply with said demand of the Mortgagee for a period of thirty (30) days, shalt ccnstityte • breach of this resortgage, and, at the option of the Mortgagee, immediately mature the antis amount of princi- pal and insets{ hereby secured, and immediately and without notice, the Mortgagee may insrirure proceedings to foreclose this mortgage and apply for the appointment of a Receiver, as hereinafter provided. 6. To perform, comply with and abide by each and every stipulations, agreements, conditions and covenann in said promissory note and dead eat forts. a~% t~tc~ PAGE ~1