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Home My WebLink About0262 PkOVIDED, ALWAYS. that if the Mortgagor shall pay unto the Mortgagee the certain promissory note of which the following in words and figures is a true copy. to-wit: G~ HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF PALM BEACH ~~~e wht P~„~,,June13, ~1~80 aniag ledebad, for troha r«eiwd, the vtsdeniptsad loittty eed swroNy promise to pep is HOME FEOERAI SAVINGS ANO IOAN ATION OP PAtA1 SEACN et is efffoa ie the Tvvnt of ttshts seody Fhsrido, o. order the ww o/ Seventy Nine Thousand N n e Hundred and No/100 N 79900.00 l tegelhet -trllll, tetarw thereea ata herelrafar doted ie meethy tnstolkaeets of Eight Hundred Thirty Seven and 35/100 20th Jul °O~s ( 837805 1• TN Mtt eaeethy Matoateeet sheN by des awd payable oe tM day of y tf , oed wbaagwwr bsdollmeets nhoa b. des end payable oe tM 20th day d .ash awd awry eohseda . esewlh Ntererdfar vNil Nor prledpal aad Marest an feat' paid. Aa peyweeta shop be eppNtrd first b utand oe Me vepaW balance at the rob Mrein specified oed thee a ptlttdpol. Aq eaaevN ttsep be pnpahf will?ovt pnreivw or fee vpoe fhb obligation o1 ally fist, oed iaarest shoN be cokuhsted of oa limp a the eepahf beleeoe ee the date rote basis of 1/76Mh of the oanwl roa pet deft. P~ded shot the Aswciotion, for a period of ties years fro. dte door hone!, sheN hates IIN right to require poyteeef of cot sson than ota hundred eighty (180) days odranp G?ared on >tiaf port of Nte opgrepoa omoeet et ea ttahretory prepeyweah saowfe oa Nse hsae la any one year whicA a:Weds 40 percent of Me original prbKipa! awovM of the loos TMnatar, prapeyMef d the etttin vwpoid principal wiN be perwitad wiNtout penally. TM poyteent of larger wta in odditioe to tM payseenh Mnie required reap cot reNetre the asoken of the poysweaf of the asonNsly iNallwtnb Mnin provided for,. vnlew h b specifically stipvload by fbe woken at the tbse of paysaeM that ttueh brger wsss ore to be applied to tM odvonq payssent of the woothly installwenh Hater ssotvrirtg ie the order of Iheir des datee. This obNgolWrt shoo bear entered !row date at-the tea of Twelve and One-Quarter per a.t ( 12.25.x) per oetwm veKl 1M priedpol and interest on fully paid. A payatettt b deGngwnt and N?b note shop . b• cowsidond in defavh whoa otq paysseet rngtrind b be wade Mninundsr shop not bave been made whhin fifteen dogs followirtg its des door and shop nwoie in defovh vnNl said poywewt shall base beew ssade. While in the fiat worth that any payseant b deGngwnt, the Asaciotion shall haw 1N right_ to regvise and reatiw payment o/ rat won lhoa S% of the rtpgnpoa osravat of prindpol and ieanst iachrded in and in odditton b the deGngvsM payteont. AN oaken and eedorsen now or henofar becowirq parties hence jointly and severaNy woiw demand, notice of eow~peymewt attd proasb eutd agree toot its the event of defouh ie /M poysseM of arty iraalheent des hereunder or in tM event of any defavh under Nte worlgoge deed aarcttriug this noa the whole o1 said indebadness shall tMrwpon of the opf'ton of the holds., become iwetedioaly des ottd payable, and i} this .tote becowa in defovh and is pload in the bonds of on offorney for collection, to pay nosonabht otarnsy's fees inchdittg but not Gwifed to, aN feet end cosb inddatt to o4y oppeob which way ?eavh, and other cosh for Woking such collsction. (Thb tsMe b wand by o saorlgags of awn door eteeevted by tM waken in favor of Noete federal Savittgs and loan Assoeiatioe of Pales Seaeb.) /S/RALPH R. CHAPIN - /S/ HELEN J. CHAPIN ..~tALPH...R.~ ...OHAFIN (tJ?t) ........._...........H.EL~... J.~ ...Cf~A.p.I.N.................................. ( (SEAy (SEAL) i ~ ~ A PREPAYMENT PENALTY WILL NOT BE ASSESSED IF THE LOAN IS PREPAID I 4 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 t he estate hereby created shall cease and be null and void. AND the Mortgagor does hereby covenant and agree: t. To pay all and singular the principal and interest and other sums of money payable by virtue of said promissory note and this mortgage, or either, promptly on the days respectively, the -same severaliy come due. 2. To pay all and singular tree to:es, assessments, levies, liabilities, obligations and encumbrances of every nature on said described property each and every when due and payable according to law, brfore they become delinquent, and if the same shall not be promptly pa;d the Mortgagee may at any time either before or after delinquency pay the same without waiving or affecting the option to foreclose, or any right hereunder, and every payment so made ahall bear interest from the dare ~hcreof at the same rate as the mortgage note, payable semi-annwlly. 3. In «der to provide for the payment of isxes, assessments, insurance premiums, and other annwl charges upon the property securing this indebt• edness, I promise to pay monthly to the mortgagee, in addition to the above payments, a awn estimated to be equivalent to 1114th of such items, which payment may be held by the m«tgagee and commingled with other funds « its awn funds without interest f« the payment of such items. If the amount estimated to be sufficient to pay said items is not sufficient, 1 promise to pay the difference upon demand. The provisions of this paragraph are solely f« the added protection of the mortgagee and entail no responsibility on the m«tgagee's part beyorsd the allowance of due credit, without interest, f« sums actwlly received by it. Upon rfte occurrence of a default under this m«tgage, the mortgagee may apply all « any part of the accumulated funds then held, upon any obligation secured hereby. r I. To keep the buildings and all equipment and penonal property now or Hereafter on said promises, covered by this mortgage, insured in a sum at least equal ro the unpaid balance of this mortgage, including both fire and extended coverage insurance, providld, however, that such inwrance be in amount sufficient to comply with any co-insurance requirements covering same under the Taws of the Srote of Florida, and provided further that the policy or policies sF.all be written in a company or companies and through an agency sa+isfscrory to the Morroages and that said policy w polK~es shall be held by the MarrSsgee and shall bear a standard New York Mortgagee Clause with our contribution, making the loss under said policies payable to the Mortgagee as its interest may appear; and ;n the event any sum of money becomes 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 to permit the Mortgagor to receive and use it, « any part thereof, f« other . ~ f purposes, without thereby waiving o. impairing any equity, lien, or right under and by virtue of this mortgage; and in the event the Mortgag« does not comply with th;s covenant the Mortgagee may place and pay for such insurance or any part thereof without waiving « affecting the option to foreclose, t ~ or any right hereunder and each and every payment so made shall bear interest from the date thereof at the same rate as the m«tgage note, payable semi- annwlly. S. To permit, commit or suffer ra waste, impairment or deterioration of said property, or any part thersof, and upon the failure of tM nartgagor to keep tM buildirtga on said property in good condition of repair, the Mortgagee may demand the immediate .spore. of said buiklittga, or an increase in the amount of searity, or the immediate repayment of tM debt hereby secured and the failure of tM Mortgag« to comply with said demand of tM Mortgagee for a perad of thirty (.ii)) ds~ys, shall constitua a breach of this mortgage, and, at tht option of the Mortgages, immcdiaaly mature the entire amoum of princh i pal end inargt hereby ss:ured, end irrtmediately and without ratite, Ilse Mortgages may institute proceedirgs b forecktae this mortgage and apply for tIM appointment of a Reviver, es Mreinafter provided. b. To perform, comply with and abide by cads and wary atipulariona, preemenn, conditions and covenanh in wed promissory race and deed oral forth. ~ I 1 aa'~ 333 ~~F 262