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The Mortgagor hereby covenants with the Mortgag~•~ ~e is u?def seised of said land in fee
simple or such other estates J any as is stated herein; that he has full powec and la ul right to ooavev the same
as aforesaid; that the land >f free From all encumbrances except u herein otherwise recited; that ssadlVlortgagor
will make such further assurances to prove the aforesaid title to said land in said Mortgagee as may be rea~on-
ab~r rrssqq~ired, and twat said Mortgagor does hereby fully_ wurant the title b said land, and every part theceof,
and will defend tbs same against the lawful claims of all persons whomaosver.
Paovlosa ALNAYS that if the Mortgagor !hall pay unto the MOrtgagee that oerltin promissory note, 01
which the following is a substantial copy, to wit: -
= 47,000.00 Lake Worth ,Florida.
,1980 .
Foa Ywivs It~CtiiYlD, the undetsis?ed promise(s) to pay to .
FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF LAKE WORTH
America , a earporatioa organised and eadsting under skis
laws of the United States of / , or order, the principal sum d FORTY SEVEN THOUSAND AND NO/100
Dollarh 47,000.00 with interest from date at -
the rate of Eleven and One Half per centum (11.50eJo) pet annum oa the unpaid balance until paid.
The acid principal and interest shall be payable at the office of
FIRST FEDERAL SAVINGS AND IRAN ADMINISTRATIVE CENTER,
2601 Tenth Avenue North,
in Lake Worth, Florida 33461 , or at such other place as the kidder may designate in writing g
delivered or mailed to the debtor, in monthly installments of Four Hundred Sixty Five & 77/100 Dollars 4
465.77 commencing on the first day of August , 19 80 ,and continuing oa the
Silt dad of each month thereafter until this note is fully paid, except that, if not sooner paid, the final payment i
of principal and interest shall be due and payable on the first day of July , 2010 .
Privilege is reserved to prepay at any time, without premium or fee, the entire indebtedness or any part ~
thereof sot ins than the amount of one loatiUment, or oae hundred dottars (1100.00), whichever k~kss. Prepayment In •tup
shall be credited on the date received. Partial prepaytneat, other than on as insiwllment due date, need sot be credited until
the next toilowiag LwtaUment due date or thirty days after such prepayment, whichever is earlier. i
If any deficiency in the paymens of u?y installment under this note is not made good prior to the due date
of We next such installment, the entire prrncipal sum and accrued interest shall at once become due sad Fay-
sble without notice at the option of the holder of this note. Failure to exercise this option shell not oonatitute
a waiver of the right to exercise the same in the event of any subsequent default. In the event of default in the
payment of this note, and it the same is collected by an attorney at Iaw, the undersigned hereby agree(s) to
pay all costs of collection, including a reasonable attorney's fee.
This note is secured by mortgage of even date executed by the underai~gr?ed on certain property described
therein and represents money actually used for the acquisition of said property or the improvements thereon.
Presentment, protest, and notice are hereby waived.
* Additional monthly payments shall be made
to establish and maintain anon-interest WILLIAM P. FLESCHNER ~~L]
bearing escrow account for payment of
taxes and insurance. _ ~ggAL]
t
_ [St3AL] 1
[SEAL]
And shall duly, promptly, and fully perform, discharge, execute, effect, complete, sad comply with sad abide
by each and every the stipulations, agreements, conditions, sad covenants of said promissory note and of this
mortgage, then this mortgage and the estate hereby created shall Deese and be null and void.
The Mortgagor further ooveaants as lollows:
1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time,
without premium or fee, the entire indebtedness or any pert thereof not leas than the amount of one installment, or
one hundred dollars (;100.00), whichever is less. Prepayment in full shall be credited on the date received. Partial
pmpayment, other than on an installment due date, need not be credited until the next following installment due date or
thirty days after such prepayment, whichever is earlier.
2. In order more fully to protect the security of this mortgage, the Mortgagor, together with, and in
addition to, the monthy payments under the terms of the note secured hereby, on the first day of eac}? month
until the said note is fu)Iv paid; wilt pay to the.Mortgagee, as trustee, (under the terms of this trust as herein-
ait4r stated) the [ollowirig sums:
(a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable
~ policies of Sre and other hasard insurance covering the mortgaged property, plus taxes and assessments
neat due on the mortgaged property (all sa estimated by the Mortgagee and of which the Mortgagor is
notified) teas all sums already paid therefor divided by the number of months to elapse before one month
prior to the date when such ground rents, premiums, taxes, and assessments will become delinquent,
each sums to be held by Mortgageemtrusttopayaaidgroundrents,premium!,taxea,aadspecia}asaeesrnenta.
(b) The aggregate of the amounts. payable pursuant to subpsrsgn?ph (s) and those ppaeyable on the note secured
hereby, shall be paid in a payment each month, to be applred to the followurg items in the order
m ground rents, taxes, assessments, fire, and other hasard insurance premiums;
(II) interest on the note secured hereby; sad
(IIn amortisation of the principal of said note.
Any deficiency in the unount of such aggregate month}y payment shall, unless made good by the Mort-
gagor prior to the due date of the next such payment, constitute an event of default under this mortgage. ~
At Mortgagee's option, Morigsgor wilt pay a "late charge" not exceeding four per centum (4%) of any install-
went when paid snore than fifteen (15) days after the due date thereof to cover the extra expense involved in
handling delinquent payments, but such "late charge" shall not be payable out of the proceeds of any sale
made to satisfy the rn ebtedness secured hereby, unless such proceeds ue sufficient to discharge the entire
indebtedness and all proper txtsta and exprases secured thereby. t~
3. If the total of the payments made h~ the Mortgagor under (s) of paragraph 2 preceding shall exceed
the amount of payments actually made hr fife Mortgagee, as trustee, for ground rents, taxes and assessments,
and insurance premiwris, as ti?c case maybe, such excPSS shall be credited on subsequent payments to be made
by the Mortgagor for such items or, at Mortgagee's option, sa trustee, shall be refunded to Mortgagor. 1t,
however, such niont}fly payments shall not Ix~ sufficient to pay such items when the same shall become due
and pa •able, then rife Mortgagor shall pay to t}ie Mortgagee, as trustee, any arriount necessary to make up
the deficiency. Such payment shall be rnarie within thirty (:30) dais after written notice from the Mortgagee
stating the amount of-the deficiency, which notice may be given by mail. If at any ~ele~t~i ~oTtgagor shall