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Home My WebLink About2323 PROVIDED. ALWAYS. that if the Mortgagor shall pay unto the Mortgagee the certain promissory note of v?hich the following in words and figures is a true copy. to-wit: G~ HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF PALM BEACH ~~E Po!¦ Pbrtdo. June 6, t~ 80 Miwg iwdebNd, fer vebse recehsd, the nadenipwed toiwty end attveroNy prori» b pogr b NOME FECERAI SAVINGS AND LOAN ASSOCIATION OF ?A1M LEACH et is office Iw the Toww of Mt. Mod, Fbredo, a< order the ssr~ of $ixtq SeVeA Thtxnlsand Eight Hundred and No/100 oo~wts (167800.00 l together ttrli Iwbtott thetsee a hereinoher sbted lw ttwwthly itntolhwwb of Seven Hundred Seventq Sea and 99/100 ootwts (i 776.94 1. TN Nrtf a.eethy MateNteewt ahoN b. dw owd psyobM ow tM 20th doy of July 19 80, wd wbapattwt iwaoN..wlt shop M dw and poyoble ow the 20th dey of cod owd ttray? ealaader atwath thereoftar vwtU the priwcipal owd iwteresf an fuNy poid. AN poyttaewb slag be oppGed first to twhrest ow the uwpoid bobnco et 1M rote heniw specified ot?d thee b prksdpol. Aey arasowl tttq b• prepaid vrithout pntwiuw a fee upoe thb ob{igofeow of ony tune. Dead interest shall be tohwlohd of ad f'saaea ow the swpoM bolonco ow the dtt~r roN bosh of 1/S60M of tM onnwl rote per day; provided Ilsot ciao Aswcation, for o period of few (3) yeon from the daN heread, shoN have tIM right b regsrin pvytwent of wol nsow thow once hundrod eeghly (150) dogs odrossce intaesl ow Nsat port of Nre oggrpob otaostet of cep valewtery prepoyesetsb t»ode ow the loon in Day once yeor which etccsads 20 perpnt of Nse originol pritsripol otstouM of the boa ThenefMr, prepoyasewf aF the eetire wpaid principol will be paweMed without pets4hy. The payment of Iorger was in additeow b tM poysnewb herein required shoN tsof reNew the rabrs of Mo pottsetst of 1M esontl+ly intbllwetsts Mreen provided for, un:ess it es spscefernlly atipuloted by the ttwke» M Me tense of poynewt shot ss?d loser ass an b be oppl'ied b tM odvonq poytwent of Me woathly instollsenb non tssaturitq iw dse order of Their dw dote. ThA obligotbw doll boar ewbnsf frow dote m Me race of Thirteen and one-half PK coot ( 13.50 pe? aswew uotJ the prissdpol and iMerett on Wlly poid. A payewenf is. deGngwnt and fhb rota aholl be considered in defeuh when Dory payttsenf naquirsd b be twade henenunder shop not haw bwn mode whhin fiheen days foltowersg iri dw dote and shop rettsoen in defwh until add poyteewt shop haw been ttsode. While in the fiat wsonM that I any poysetst is delinquent, Nee Assoeioteon shall hove Nso repht_ b rewire owd reteivs payweet of not eson thou 3% of the oggregeb esount of prindpol and inhresf incbdtd in and in addition b the deGngwet poyttsenf. All nwken and etsdoran now or henofler beeoseng poAies hash -jointly and severally woew desond, rsotice of non~poywteM ottd prolast, owd agree that eve the avant of defouh iw ciao payseM of Dray enstollwsent dw hereunder or in the sweat of ony defouh under the wsortpage dead securing this wale tM whole of soed indebtedness shop therwpow of the option of fhe ho4Jer, become irnsedeoMly dw and poyeble, and e} thb woN bacowsa in defossh and a plooed in the bonds of on attorney for collection, to goy nosonobhs attorney's fees including but not Gaited to, oN fees and coats inetdarl b ony oppeob vrhicJs sway rewh, and other costs for Leaking suck collection. (This note is aeand by o worgoge of evew doh a:ecuted by tM twoken in favor of Nose Federal Savings and loon Aswcataw of Polo leach.) NORTH AMERICAN BUSINESS FORMS, INC. ../-S.L...IZOGEIZ..G..-.MOIU3~S.,...PI~SIAI~NT......_ _ (sue) ...LSI...8.4?GIrI~..G---..MOI.IRIS,.-..INDIVIDIIAiaLY--------- (ww A PREPAYMENT PENALTY WILL NOT BE ASSESSED IF THE LOAN IS PREPAID FRQ~I THE PROCEEDS OF AN ARMS LENGTH CONVEYANCE. I and shall promptly perform, comply with, and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this deed, then the estate hereby created shalt cease and be null and void. AND the Mortgagor does hereby covenant and agree: 1. To pay atl and singular the principal and interest and other sums of money payable by virtue of sad promissory note and this mortgage, or either, promptly on the days respectively, the same severally come due. 2. To pay all and singular the tares, assessments, levies, liabefities, obligations and encumbrances of every nature on said described property each and every when due and payable according to law, before they become delinquent, and of the same shall not be promptly paid the Mortgagee may at any time either before or after delinquency pay the same without waiving or affecting the option to foreclose, or any i~ght hereunder, and every payment so made shall bear interest from the date thereof at the same rate as the mortgage note, payable semi-annwlly. 3. In order ?o provide for the payment of caeca, assessments, insurance premiums, and other annwl charges upon the property secwing this enclebt- edness, (promise to pay monthly to the mortgagee, in addition to the above payments, a sum estimated to be equivalent to 1/12th of such items, which payment may be held by the mortgagee and corrrningled with other funds o. its awn funds without interest for the payment of such items. If the amount estimated to be sufficient to pay said items es rat sufficient, 1 promise to pay the differerxe upon demand. The provisiorK of this paragraph are solely for the added protection of the mortgagee and entail no responsibility on the mortgagee's part beyond the allowance of due credit, without interest, for sums actwlly received by err Upon the occwrence of a default under this mortgage, the mortgagee may apply all or any part of the accumulated funds then held, upon any obligation secwed hereby. - , . 4. To keep the buildings and all equipment and personal propery now or nereafrer on said premuxs, covered by this mortgage, insured in a sum at !east equal ro the unpaid balance of this mortgage, including both fire and a.tended coverage insurance, provided,- however, that such insurance be in amount sufficien~ to comp!v w;rh any co-insurance requirements covering same under the laws of the Srste of Florida, and provided further that the policy or policies shall be written .n a company o. companies and through an agency a+isfactory to the Mortgsgr_ and that said poligr or policies shall be held by the Morrsagee a^d shalt bear a standa,d New York Mortgagee clause without contribution, making the foss under said policies payable to the Mortgagee as its intere:+ may appear; and in the event any sum of money becones payable under any such policy or policies, the Mortgagee shall have the option to receive and apply the same on account of _the indebtedness hereby secured, or ro permit the Mortgagor to receive and use it, or any part thereof, for other purposes, without thereby waivirsg or ~mpa~nng any equ.ry, lien, or right under and by vertue of this mortgage; and in the event the Mortgagor does not comply with this co+enant tFe Mortgagee may place and pay for such insurance or any part thereof without waiving or affecting the option to foreclose, or any right hereunder and each and every payment so made shall bear interest from the dare thereof at the same rat. as the mortgage note, payabk acme- ' annually. 3. To permit, commit or suffer no waste, impairment or dererioraeon of said property, or any parr thereof, and upon tM failure of the mortgagor ro keep tM buildings on acid property en good condition of repair, tM Mortgagee may demand the immediate repair of said buildings, or an ensxease in tM amostnt of seariry, or the immediate repayment of the debt hereby secured and Me failure of the Mortgagor ro comply with aid demand of the lMortgsgee for a period of thirty (30) days, shalt constitute a breach of this mortgage, and, err the option of the Mortgagee, immediately mature the entire amount of prince- ~ pal and innrep hereby severed, and immediately and without ratio, tM Mortgagee may irurirure proceedings to foreclose this trtortgape and apply for Lisa appointmerst of a Receirsr, as hereinafter provided. 6. To perform, comply with and abide by oath and wary stipulations, agraemenn, twnditiom and cOVenan»"in said promissory no» and dead apt fords. ! ento'IRC~2 vacF~is r _