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Home My WebLink About0865 if f'ROVIDEO. ALWAYS;, tftat 8 tM Morgogor shall pay unto the Mortgagee the certain promissory note of which the following m wortk and figtues ~ a flue copy, to-wit: GR~ HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF PALM BEACH ~IIX~~~I~~ ~~~E fol. Rood, t<le.w. June 16, t980 ~M iwdeite~, ter wire received. 1M ewdersieMd IeiwNlr ewd severoRr prowise M poTr b HOME FEDERAL SAYMK35 AND tOAN ASSOCIATION Oi; pANN REACR at ile efFw iw tAe Tow. sf rok. fi•ocb, FMride„ a ord.., the ettw of Forty Thousand and NO/100 oolwls cs 40, 000.00 ) 1Oa~K .rct th.r.ew ~ h.~i..ft~ ~ .t.ttthht a"aat~b ~ Four Hundred Eleven and _ 60/ 100 ' DouAlis ~ 411.60 ~ Th. Bat .owthy iwetoNmewt than b• dw awd payable eve the 1st dOI? ~ August 19 80 and sebeegwwt iwsfollmenb shoU be dw ewd poyebb eve the 18t day of ead owd every cektwdar sswth tMre- ofter ewtil the priwcipd awd iwteresf ere fully paid. larger wtsn asar be paid to airy tires, bet fhe poymetsf of over welt brger wwa is oddiliow b the payetewb Mreiw required shots wet reTievs she lookers of /M potwtent of wewthtr iwslaRmesb hereiw provided fa,. vwktss it is speaftcagy sfipvbNd by dse smokers of 1M t+ase of poyweat that i suds larger mown ore b be applied b the advowce poywtewt of the teonMly instolhewb weal ssofurirq iw fke order of tMir dw daNs. Aq payesenb Meade rpori this note shall be applied first b the poyssewt of oawted iwNrpt and secondly upow the priwcipol. 1 Tlris o6liOwlion aheN bar iwt.rest irerw daN at tM raN of Tiielve - pe. covet (12.0096) i per arwnat. until the Principal and 'wterest an fvlht paid. i i A psysenf is delirrquewt and this noN sAoll be considered in defavh when arty payment required robe wade hereunder sl oU not have been +rode v.i:hin fifMn days following its dye dote and shoN rennin in defavh until said poytwcnt shall have been rwode. White in the first nanth shot ony ~ ~ payrwest is delinquent, the Association shall lave the right to require and reci+w paytsewt of not wan t:ton S9o of tke oggregaM oawunt of principal - i and iwMest included iw and in additiow b 1M deYn~vent Foyarenf. All oaken and endmsen now or henofNr becomir?g ponies Mnb jointly and severally waive derwond, tatice of non-payment and protest, ~ and agree that iw the event of defavh in the poyatewt of owy instolletenf due herwnder tM whole of sold indebtedness shop thereupon of the optiow of the holder, becoase imwediofely dw owd payable, and if this note becomes in defavh and is placed is the bonds of on attorney for cots lection, b pay nasorable attorney's fees. iwclvdirtg but moot Cueifed b, all fees and cosh incident b ony oppwb whicA ~Y remote, and other cosh for rwakiag suck coRetlion- _ i '~~s none .c secured by o mortgage o? even doh executed by the makers in fawr of The Horns federal Savings and loon AssocioYan of Polm fleoch.) i _ (SEAL) ~ Glilliam E. Reagan . _ _ _ (SEAL) Jeanne G. Reagan • ISEAt) ~ I _ . (SEAL) end shall promptly perform, comply with, and abide by each and every the stipulations, agreements, conditions, and covenants of scid promissory note and of this deed, then the estate hereby created shall cease and be null and void. - AND the Mortgagor does hereby covenant and agree: ~ To pay all and singular the principal oral interest and other sums of money payable by. virtue of scid promissory note and this mortgage, or either, --Ftiy on the days respectively, file some severally come due. E To pa, all oci singular the taxes, assessments, hulas, labilities, ob!igtaions and Incumbronces of every nmurs on sold described property each and ~ w,en a~ ~ paycols according to law, before they become delinquent, and- if the some shall not he promptly paid the Mortgagee nay of ony time -e. cefa:a ar wirer delinquency pay the same withWt wainng or affecting the option to iorecbse, of ony right hereunder, and every payment so made € :;ear ~nrerest from the dots thereof of the moms rote os the mortgage note, payable seoionnuolly. 3 in craer to provide for the payment of taxes, assessments, inwrance premiums, and other annual charges upon fhe property securing this indebted- promise to pay monthly to the mortgagee, in addition fo the above payments, o sum estimated to be equivalent ro 1/14th of such items, wfiich -e> t may bs held by the mortgagee and commingled witA other funds or its own funds without interest (or the payment of such items. If the amount t :•eo to be suff~cent to pay said items is not wfficient, 1 promise to pay the difference upon demand. the provisions of this paragraph are solely for - ?a~ed prctectton of the mortgagee and entail no responsibility on the mortgagee's port beyond the ollowonce of due credit, without interest, for sums ~ : 'y received 6y it. Upon the occurrence of o de(oult under this mortgage, the mortgagee may apply all or any port of tM ottumulated funds then he'd, 5 arty obl,gation secured hereby. 7o keep the bsniding and all equipwnent and personal property now or hereafter on said premises, covered by the mortgage, insured in a srm of ;r ryuol to the unpaid ba{ance of this etortgoge, including both fire and extended coverage insurance, provided, however, that such insurance bs to -_~~t suffioenr to comply with any coinsurance requirements covering some under the laws of the State of Florida, and provided further that tht policy z :.~~:ues sh_l! be wntten in o company or cowponies and through on agency sotisfodgry to the Mortgogta and that sold policy or policies shall be heW •ne Mortgagee and shall bear a standard New York Mortgagee Douse without oontribvrlon, asking the kns under sold policies poyobk to the Mortgagee - rs ~ntereat may appear; and in the e:ertt ony mom of money becomes payable under orsy such policy or policies, tM Mortgagee shall boys the opYan to _-~~.e and oPPh the same on amount of the indebtedness hereby secured, or to permit the M~rtpogor to receive and use it, or arty port thereof, for other c=ses, wrthosrr :'iereby woinrtg or impairing any equity, lien, or right under and lty virtw of this mortgage; and in the evert the Mortgagor does not with this carenant the Mortgagee may place old pay for moth inwrancs or ony paA thereof without waivitg W offectiry the option to foreclose, ~-.y rght hereunder and each rend every payment so mode shall body interest from tM doh thereof of the some rote os fIN mortgage note, payable semi- ~ ~~ny. ~ 5. To permit, commit o. wffer no waste, impoirmenf 0I deteriorotipn of sold property, Or ony port thereof, and upon fhe failure of tM nartgogar fo keep I a;;rld.~gs on sage property in good condnion e( repoi., the Mortgagte may demand the ia:ttsediote repair d sold buildings, O? on increost in the amount K _..yrry, w rf+e ~rr.medwre repa;mect of the debt hereby secured and the failure of the Mortgogw to comply with sold demand of tM Mortgages for o } e :a of thirty .,3L~ days. sh;;it co*~+,russ o brooch cf thn mortgage, and of the option of the Mortgagee, immediately mature the entire amount of prinCi- ~ i :red irt.•rst Hereby secu-ed. c-d •Tmed:wel,, and vii+Rout entice, the Mortgagee may Institute protecdirgs to forecbse this mortgage old apply for the - ~ n•nenr of a tote .e•, as heranoher proriEed. l h. 7o perform. c7r•71y with and abide by each or+d eery s+ipulotions, ogrsements, conditioM and cpvenanlt in sold promissory note and deed set Fortn. } • r f t~