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HomeMy WebLinkAbout0743 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: I G~ HOME FEDERAL SAVINGS AHD LOAN ASSOCIATION OF PALM BEACH ~mr#~~e ~>a#>e trot fiaoeh. flaldo, - » Mb0 twdabbd, for valve received, the vtsdersigtsed piwtlp old sewroUp ptenise b po~tp HOM! FEDERAL SAVINGS AND LOAN ASSOCIATION of MIM sf!ACa e1 iM ettia Iw the Toww d fbr Mocb, fbrida, o< order the wm d Tltf r ty Four Thousand Four Hundred and No/100 X34400.00 ) baeM~ talst tnt.r.at thereew a. heniwofbr abted to tttewMy ialolbwewa d Four Hundred Twenty One and 40/100 421.40 TM flret .awtAy hsstwUwmwt ,hoR be dw and popable eve th• 1st der d August Ty 8 0 . eta wbsagwa inaall.ertb shog ts. dw owd popobM a tha 18t rlep d eerft owd every eslewder wsewlls fhereoftar vwNl the psiwctpol owd interest are hRp paid. 1 /1R pepmorh shop be eppliad first b Mbrgf on the uwpttdd bokswce of the rob herein specified and thew b prittdpal. Atq attsetrwl stte)r M j r prepaid without pre~ittrn er fee upon Mis obBgation W at+y Ksae, owd iwbrest shall be ookukeled at all times eve the ewpold fsolastn ow /he dsstl(r # rote basis at 1/S601h d the annual rote per daps provided Mot the Association, for a period d five peon from Me dab hereof, shag hove 1M right b require papwrewf d tsol stare Maw owe hvrdred eight' (lE0) dept advance inbrest on Mot port d Me aggregate otwoawl d ap vdewtory prepopmenM leads an the bow in awl! one peer which a:seeds ZO perpnt of Me origitsaf principal oseouM d Me bow. Thetedbr, prrprpraoM ~ tM entire wpaid priwt:ipol will M permifbd without pewohp. The payment of brger vent iw rsdditiow b the paprwawts herein required droll wet reNew the woken d the poywewt d the saonMlp iwsbllwants Mrein provided ta, unless it is specinoogp stipvkstsd by tha Waken of the fine d prymewt that sad brge? was ow b i>• eppl'ad b Me advance poyteewt d the mooMly imblkssswb or:t maturitsg iw Me order d their dw dabs. This obggotlow shall bear iwbresf from dab a! the rob d Fourteen and One-Half par ant ( 14.50 per annum until 1b prirsdpol old iwbmt an fvdp paid. A poyreewt is deRngwnt owd Mis nog shall be considered iw defovh when owp papaewt required b be node Mniwvnder shall trot haw been made within fifben days (olk>wiwg its dw- dab and slsaU rewsaiw in defwh vMi) said popmewf shop haw been node. While iw flse Fret wsotsM Mot any poytwM is delingwnt, the AssocioNon shall bow Me tipht_ b require and receive papmewt d not ware Mats 3% d the opgregob otwovM d principal and inbrest included in and iw oddittow b fM de6ngwwt papwant. AU tstaken owd endorsers wow or hereafter becoming parties hereto jointly and severally wo'tw detwowd, wetiee d wotapaymeM and protest, ord agree that in the treat d defosth in IM poytweM of awp insfollttrent dw hereunder or in Nre event d any defovh under tM moAgoge deed nectrrrwg this nob tM whole d sold iwdebtednw shall 1Mreupow of the opton of the pokier, become inwsediably dw and payable, oad if Ma nob becomes in dehrrh owd is pkaoed in tM bonds d on oMorwep for colktrctan, to goy reasonable atbrnep's fees iwchtdirsg but not Gnibd to, oN fees and costs I int:IdaM b any opporhl which map rewh, and other cosh for wraking such eolktetiow. (Thts note is severed by o twoAgoge d even dab executed 6p tM woken in favor d Mows federal Springs and loon Association d Iahss beach.) /S/RITA J. TOBIN /S/ GLORIA M. LA FONTAINE - .._..........-RITA---~J:...'POBTN (sEAy GL©R-I-A-- M-;---.it~i-..gONTA-i-I~E-.......-...... (ww J (s~u) (sew j ( A PREPAYMENT PENALTY WILL NOT BE ASSESSED IF THE LOAN YS PREPAID ~ ON YANCE. r 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 the estate hereby created shall cease and be null and void. AND the Mortgagor does hereby covenant and agree: 1. 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 respecr;vely, the same severally come due. 2. To pay alt and sing„tar the to=es, assessments, levies, GabiGt;es, obligations and incumb.ances of every nature on said described property each and .:cry when due and payable according ro law, before they become delinquent, and if the same shall rest be promptly paid the Mortgagee may at any time e rher before or after del:nouency pay the same without waiving or affecting the option to foreclose, or any right hereunder, and every payment so made shall bear interest from the date thereof at the same rate as the mortgage note, payable semi-annwlly. 3. In order to provide for the payment of to:es, assessmems, inswance premiums, and other annwl charges upon the property stewing this indebt- i e~ness, 1 promise to pay monthly to the mortgagee, in addition to the above payments, a sum estimated to be equivalent to 104th of such items, which payment may be held by the mortgagee and commingled with other funds or its even funds without interest for the payment of such items- If the amount estimated to be suff;cieM to pay said items is not sufficient, 1 promise to pay the difference upon demand. The provisions of this paragraph are solely for the added protection of the mortgagee and entail no responsibility on the mortgagee i part bsyond the allowance of due credit, without interest, for sums acrwlly received by il. Upon the occwrence of a default under this mortgage, the mortgagee may apply all or any part of the accumulated funds then held, upon any obligation stewed hereby. 1. To keep the bv~!dmgs and stl equipment end personal property now or ne.eafter on said premises, covered by this mortgage, insured in a sum at ( !east equal to +he unpa;d bata~ce of !his mortgage. including both fire and a=tended coverage insurance, provided, however, that such insurance be in ) a~+oun+ suff;cien• to comply w;eh any co inwrance requirements covering same under the laws of the S+ale of Florida. and provided further that. the pohgr or policies shall be written .n a company or companies and through an agency sat;sfsctory to the Morrgsge± and that said policy or policies shall be held i by the Mortgagee aid shalt bear a s!andard New York Mortgagee Clause without contribution, mating the loss under said polices payable to the Mortgagee , s 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 ro t receive and apply the tame on account of the indebtedness hereby secured, or to permit the Nhrtgaaor to receive and use it, Or any partthertoF, for other ! i purposes, winc~ut rherebs• waiving or .r^ps;ring any eau:+y, lien, or right under and by virtue of this mortgage; and in the event the Mortgagor does not comply with rhs co+enanr the Mortgagte may place and pay for each insurance or any part thereof without waiving or affecting the option to foreclose, F or any right hereunder and each and every payment so made shall bear interest from the dare thereof at the same rate as the mortgage note, payable semi- a annwlly. S. To permit, commit or suffer rso waste, impairment or deterioration of said property, or cwt! parr thereof, and upon tM failure of the mortgagor b keep Ilse buildings on said property in good :ondition of repair, the Mortgagor may demand the immediate repair of said buildings, or an inrnase in tM amount of security, or tM immediate repayment of rise dsbt Mrsby strcund and the failure of the Mortgagor to comply with said demand of /M Mortgagee for a period of thirty (bi)) days, shall constitute • breach of this mortgage, and, at the option of tM Mortgages, itnrrrediably molars the entire amount of princi- ' pal and interest hereby secured, end immediately and without rtotiq, 1M Mortgagor may inaritub procesdirsgs b foreclose this mortgsga and apply for Nte appo:nrment of a Receives, as hereinafter providsd. 6. 1o perfam, comply with and abide by tech end every stipulations, aprttemenn, corsditiom and covenants in said promissory tab and deed ort forth. 6~~ 3t34 PEE ?43 - } - -