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HomeMy WebLinkAbout0849 PROVIDED. ALWAYS. that if the Mortgagor shall pay unto the Mortgagee the certain promissory note of k•hich the following in words and figures is a true copy, to•wit: G~ HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF PALM BEACH ~~~~e - Prb. Mttsb~ faew~ June 16 , t~ 8 0 iitttR i.debtwd, ter vebra tacai.ad, the awdeniowed jaiasly and sevarery pro.;,. N pelt b HOME F SAVI AND l0 ATION oP PAtM sf~?at i .ffio. b, w versa of Pals t»ad4 fFbsride. er erde. the aas of Forty T~r e e T ti o u s a n~ a No/100 43000.001 ~s,,b,.-.r btAataM tiaraaa ~ . troa.d i. tw.wtby itafollsewts.+! ,Four Hundred Fortyu~w~ and 47/100 pp~ 442.471• ri. sat M,IbM IwalV..t .b.r be dve awd pslrobls oe the 1st ~ ~ August ~ 19 8 Oeod s.bsgwa btaler..rtr tier be dve a.d payable ve tb. 1st day al .ocb end awry ooM.d.r seer tb.raafter trstil the prbtaipaf o.d itneratt .te tort paid. Ar peysswls shat b• eppGd tint b itterast ow Nra vepeid bobtrca aA the rob bareiw specified asd rhea b priwcipol. Her arseartf ttatry b. prepaid wilbeat paasitts a fee trpve Ibis obwootiew a aey rise. owd iwtorast shop be ookubsted art err ttaty ow tba anpatd bobsstca ve tba dai4r . rate hers ad 1IS60tb of the owwsrol rob par dolt: provided drat Mtn Aswcietioq, for a period of fete (S) yeon fros the dote benef, abet bean Iba riots b tarpira paysaeM of ever sore tbow or bwdrad a(gbty (1rA) ~ odvowca wtetest ve riot port of the oo0repab osoaet of ar troletdory prapeysewss essde a the loow L ay owe veer srbieb •:cewds 20 perosnf o! tba oripiwo) priwcipol ascent of tba btoe4 ibetaofbr, praporseet at tba vetira awpaid priecipal stir be petsilMd witboet pawohy. The payarewt of baryer wess in odditiow b the paysertb beeafn regairad shat eo1 resew the tttwtiaee of 1be paryswsM d tbs scarily imforsswb herein provided for, un:ers it a spscifiicary stipubsNd by tba sokers of the rise of peysvel that tted btnoer setrts ere b b• epprted b tba advowq payrwewl of the sowtbly irtsbllrnenb went soturittp iw tfte order of liner dve daAst. ibis obioatioa for bwr iidaept fros dab at the tab of TM e l V e teat ~ 12 .Oxl p« awwas awls tba priwcipal end iwtwraaf era fury paid. A paytaewf 's defiwgwwt owd this web shat d• cowsedetad iw defenft whew arty paysvef regeerad b bw soda bereiwrnder shall not haw bsen soda wdltiw fdNaw days Ibita?ep its dtrs dote owd abet nsoia iw defcwh trwt(1 said parysswt slwY haw bean mode. Wbils in the first sontb tbof oq P~ is deruWeenR tin AswcoBow sboN haw ie rigbt_ b eaaaiw acrd receive parysewt of wot sore than S% of the ap9rpob aaaottwt of priwdpd awd interest iwcbtdad E. awd eve additive b tbs deCwgaewt poyseet. AN caokaa and wwdotsers avow a bnwfier becasip potties beteb jointly orrd twerory woive detwond, notice of now-peysaet and proMt, oed oprea fiat iw the wed d defee4 ur tM psyasewt of oq iasbUsewt d.e hereunder or eve tbs went of awy defovh ueder Ibe wwrlpopa dead taresrriwo this Bose the whole d acid iwdebssdwes sboll tMreepew of rive epfeve of tt•+e bolder. becose essedeotaly due and poyoble, cad i/ this wore beeosss iw defwlt owd a plaesrl is tie bowds d ve oMeraey for oolleetiow, b poy raosonalsk otbrwry's fees incbtding bat aof liwifed to, ar fees awd scats irrcldew? b oq aippaobti wbieb say reswh, od ester costs for nsokiwy suds colbraiaa. (Tbb vets is eswnd br a swsyaoe of erne dens •secated by the sokers is favor of tbwre Federol SatrittOs and loan Assoc(ofiow ai Pols deacb.l /S/GLENN R. BROWN /S/ PRESCOTT H. BROWN ---GLENN- R ~ _-BR©1~ _ _ - - - - - tsEUi _ - _.---~RESCO'f~f--- H :----BR©W~1------------------- (stau - - (sal . - (save i A PREPAYMENT PENALTY WILL NOT BE ASSESSED IF THE LOAN IS PREPAID F A~ ARMS LENGTH CONVEYANCE. and shall promptl} 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 shall cease and be null and void. AND the 1Niortga~or does hereby covenant and agree: E t. To pav ail a=d si.+gv'ar tt,r Principal and imerest and other wms of money payabk by virRe of sad p.omissory note and this mortgage, or either, prpmpr}y on the days respccnvefy, the same severalty come due- 2- To pav all a~+d s.r.~_`ar tmr ta.es, auKSments, kv'es. liabihries. obtga•i~'ns and encumbrances of every nature on said described property each and eery wren dve ar*d pa,ab'e accerd.ng ro law, before they become delinquent, and if th. same sRa't net be p•omptlY paid the Mortgagee may at any time e thcr before er otter de` nos~ency Fay rite sa+•!e without waiveng or affecting the option to foreclose, or any nghr hereunder, and every payment so made shad bear interest from the dare thereof at the same rate as the mortgage none, payable semi-annwl(y. 3. In order fo provide for the payment of rases, assessments, insurance premiums, and other annwl charges upon the property securing this ir?debt- cdness, 1 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 commingled with other funds Or its awn funds without mterest fo• the payment of such items- If the amount estimated to be sufficient to pay said items .s not sufficient, 1 prom;se ro pay the difference upon demand. The provisions of this paragraph are solely for the added protection of the mortgagee and entail no responsibii;ry on the mortgagee's part beyond the allowance of due credit, without interest, for sums actwlty received by .t- upon the occurrence of a defauh un,-ler this mortgage, the mortgagee may apply all or any part of the accumulated funds then held, upon arty obl;gat;on secured hereby. 4. To teen the b, 'd cgs and stl env pmcnt and persona! property crow or nereaher on said prrr+ixs, covered by this mortgage, insu•ed in a sum at kast equar ro rye vr,'rB d oa'ancr et this n'atgage. enclvding both the a:+d e, tended coverage insurance. p•o.:dad, however, That such insurance be en j a.-r+punt s.:r':c~en• to coTp'v with any co-insurance- requirements covering same under the lours of ttie Stare of Fbrida, and provided further that the policy or pol•c:es she!! br w• t•en n a cc'~pa'+y or coTpanies and through an a3encY sa•isracrory to the lAoroage^ and that said policy or policies shall be hats s by the Mortgagee a^d shalt boar a s•a~dard h(ew York Mortgagee Clause without conrnbution, ma4:rg the loss under said policies payable to the Mortgagee as ;ts .nteres• Tay appear,- ar`d ;n rt•e eyr~r any wm of money becomes payable under any wch policy or policies, the Mortgagee shall have the option to # receive and apPty '"e v-r on accz~^t of *he :ndeb•edness hereby secured, or ro permit the Mortgagor to receive and ux it, or any part thereof, for other purposes, w:•hc,~t •h.rreb; weir eg o• .-~pa;r~rg any eau•ty. lien, or reght under and by virtue of this ~orrga3r; and en the event the Mortgagor does not cwnply w:d+ th;s ce.enanr the Morr3agee mar pace atd pay for such enwrance or any part thereof without waving or affecting the option to foreclose, oraarry righs hereunder and each and every paymem so made ahaN bear interest from the dare thereof at the same rate as the mortgage note, payable xmi- annwtly. S. !o perme, commix or wffer no wash, impairment a detereorateon of said property, or arty put thereof, and u Mte bwtd- on sea proprty en condition of s, tlts - Pve the failure of 1M mortgepor b k«P 'r'gs !)ved reps Mortpapsa may demand tM immediate repair of said bueldinps, or an increase en the amount of security, a the errrnedyre repayment of the debt hereby seared and the feature of the Mon9apor to comply weth seed demand of tM Mortpapaa for a period of eherty days, shall wnsritute a broach of this rrtortQaps, and, at the option of ttte AI(ortyayee, errvnedeately mature the entire amount of princi- pal and interest hereuy s«ured, and immediately and wetftout notice, dve M~orryapaa may insritua p?oceedinps b foreclose this- rrtortyapa and apply for tM tq appointment of • Rsce,ver, a ttere:nafter provided. i 6. To perform. comply with and abide by each and every stiputateons, apraerrtenn, conditions and covenants en said promissory note and dead sat forth. g~3~3 ~avE 84?