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Home My WebLink About0031 ~ The Mortgagor hereby covenants with the Mortgagee, that ~hi ~ indefeasibly of said Lad in !es simple or such other estatsr J any as is stated herein; that he has toll power and lawwfiul right to ooovev the same as aforesaid; that the land is free from all encumbrances except as herein otherwise recited; that said 1Mortgsgor will make such further assurances to prove the aforesaid title to said land is said Mortgagee as may be rea~on- ab1y rreeqquited, and that said Mortgagor does heroby fury warrant fhe title to said land, and every part thereof, and will defend the same against the lawful claims of all persona whomsoever. Paovtasa ALwetrs that if tha Mortgagor shall pay Hato the Mortgages that certain promissory note, of which the following is a substantial Dopy, to wit: _ i 58, 000.00 Lake Worth • ,19 80 • i i Foie Vwttis Rscsivsa, the underaignod promise(s) to pay to j FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF LAItS WORTH sift ~ a oorporatioifl organised and es>ataaa under tbs >aws o[ the united States of ~ ~ p~ppv sum of FIFTY EIGHT THOUSAND AND NO/100 • • . • • • • . • . • • • . DaUars 58,000.00 with interest from date at ~ rate ~ Eleven and One Half per oeatum X1.50%) per annum on the unpaid balance until paid, The acid principal and interest shall be payable at the office of FIRST FEDERAL SAVINGS & LOAN ADMINISTRATIVE CENTER, 2601 Tenth Avenue North, - in Lake Worth, Florida 33461 , or at such other plans as the holder may deeigriiite in writing ` delivered or mailed to the debtor, in monthly inatallmenta of Five Hundred Seventy Four & 78/lOl~ollsrs (:574.78 commencing on the first day of August , 1980 ,and continuing on the hint dad of each month thereafter until this note is fully paid, except that, if not sooner paid, the final pa~nnent 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 not leas than the amount of One inaWimaat, or oae hundred dollars (x100.00), whkheve: i:leas. Repayment in toll shill be credited oa the date received. Rutial prepayment, other than on an iastallmeat due date. need act be credited until - the nest following iastallmeat due date or thirty days after such prepayment, whichever b earlier. Ii any deficiency in the pa eat of any installment under this note is not made good prior to the due date of the nezt such installment, the entire principal sum and accrued interest shall st once become due and ~iay- able without notice at the option of the holder of this note. Failure to exercise this option shall not constitute • 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 if 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. Thin note is secured by mortgage of even date executed by the vndersigned on certain property described therein and represents money actually used for the acquisition of said property or the impmvementa thereon. Presentment, protest, and notice are hereby waived. . * Additional monthly payments shall be made to establish and maintain anon-interest PAUL J. HURRAY, JR. [t3BAL] bearing escrow account for payment of taxes and insurance. [~L] DOREEN M. HURRAY _ [gEAL] I [SEAL] And shall duly, promptly, and fully perform, discharge, execute, effect, complete, sad comply with and abide by each sad every the stipulations, agreements, oonditiona, and covenants of said promissory note and of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void. The Mortgagor further covenants sa follows: 1. That he will pay the indebtedness, as her~einbefore provided. Privilege is reserved to prepay at any time, without premium or fee, the entire indebtRdneas or any part thereof not leas than the amount of one installment, or t one hundred dollars (x100.00), whichever is less. Prepayment in full shall be credited on the date received, Partial prepayment, older 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. 1n order more fully to protect the security of this mortgage, the :Mortgagor, together with, and in addition to, the monthly payments under the terms of the note secured 1?ereby, on the first day of each month until the said note is fully paid, will pay to the ltilortgagpe., as trustee, (under the terms of this trust es herein- after stated) t}re following awns: (a) A sum equal to the ground rents, if any, next due, plus the pr+emiuma that will next become due and payable on policies of fire and other hassrd insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (all sa estimated by the Mortgagee and of which the Mortgagor ie notified) leas all sums already paid therrfor 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, such sums to be hdd by Mortgageeintruattopayeaidgroundrenta,premiums,taicea,and specialassessmenta. (b) The aggr+egrite of the amounts pa able pursuant to subparagraph (a) and those payable on the note aectir+ed hereby, shall be paid in a-single payment each myth, to be applied to the following items in the ordu stated - (I) ground rents, taxes, assessments, fire, and other hasard insurance premiums; (II) inter+eat oa the note secured hereby; and (IIn amortisation of the principal of acid note. Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Mort- gagor prior to the due date of the next such payment, constitute sn event of default under this mortgage. At Mortgagee's option, Mortgagor will pay. a "late clisrge" not exceeding four per centum (4%) of any install- o went when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in e handling delinquent payments, but such "late charge" shall not be payable out of the proceeds of any sale made to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and all proper costa and expenses secured thereby. ~ 3. If the total of t}re payrrrents made by the Mortgagor under (a) of psragraplr 2 preceding shall exceed -o the amount of payinents actually marlr h.• t[ie :tiortgaKee, as trustee, for grpu~cj i~}ts axes and assessments, i~ and insurance prerrriurrrs, as fire case ?riar be, such excess alrall be credited o s qae~~ payments to be made R± by the Mortgagor for su~lr items or, at A4ortgngee's option; as trustee, shall be refunded to Mortgagor. If, however, such irrontlily payments alrall not tx~ sufficient to pay such items when the same shall become due • and payable, then the Mortgagor shall pay to the Mortgagee, as trustee, any amount necessary to make up ~ r the deficiency. Suclr payment shall be made within thirt;V (:30) days after written not-ice from the Mortgagee ~"'i ~ stating Lhe amount. of the deficiency, which notice rosy be given by mail. If at any time the Mortgagor shall t - - - - _