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Home My WebLink About0776 r PROVIDED. ALWAYS, that if the Mortgagor shall pay unto the Mortgagee the certain promissory note of which the: following in words and figures is a true copy, to-wit: G~ HOME FEDERAL SAVINGS AHD LOAN ASSOCIATION OF PALM BEACH ~~~E rel. ~•August22, ts80 seiwg indebbd, ter rattle reuMed, the ewdersigned loiwtly and awerady promise b pq b HOME FEDERAL SAVINGS AND IOAN ASSOCIATION of pALM sEACN e1 lee oNia iw th. Town of f'alw lead, Fb?ido, a ender tb• ee. of Sixty Eight Thousand Two Hundr~d~~a d No/100 Dews K 68200.00 1 togNMr irltlt tMreew a Mr+iwohet sbbd iw wewdty sab(k«wb of Seven Hundred Forty One and 3 3/ 100 caws is 7 41.33 The .eonthy kastollwene shag be dw owd poyob4 ow th. 1st daY sd October 11 g0, ad wltsegwwt 1tWogetenb eboq bs dw end peyoble ow tM 1St day of east osd sneey ealeadar ttsewdt 1Mteofbr •wtil the prbscipo) and iwtereA are fYgr paid. Aq paytttewb (boll be oppGed Ent b iabrest oa tM Ynpoid bobace of the rob Mreiw spetalied and tlsew to priwdpel. Asry eroeewl ~ bw pnpoid withovf pretsiYw a fN Ypow Ibu obligation of asy Lisle, and iabtest shod M oob:vbtad of od lino ow the awpaid baleate ew tb detitlr rob basis at 1/S60fb of tM Dann) cab pet day; proridad that the Atwciotioa, for a period of fin years Craw the dab hereof, sltsi Maw the right b regYin poywent of sot won thaw owe hvndnd eight' (150) days odvosce iwbrest os that port of Nee. oggrpote ewoewt of ei eolvalarr prepeywenM strode ow Hse bws iw owy one year which •:eeeds 20 peraat of N?a or'~, Twat ptiwcipol orsovM eF the bow. TbereofM, praparr•wM eF 1M entire repaid priaeipol will be perntiMed withoet pewohy. TM paywsent of larger wsu in addition b the payetertls Mreis raptired tired wet ndeve tM woken of 1M patsent of 1M staathly inslolbneMS Main provided for, vs:ea it a specifioodp stipvbsbd by the woken of the tine of poyweat that arrd? beper wtna on b M applied b /M advance payment of the taoadsly insblktrewb wort aaalYrisg iiw the order of their des dense. Tbir obrtgotbw .boa bwr iabrnt kom dwe o* +h. rate of Twelve and Three-Quarters PM seat c 12.75 x) per awnvw YaKI the prindpol owd iabrest an fYdy paid, A poywertt 6 deGngvent and Ma nob shag M considered iw detairh wMw osy payment »gYired b t» mode Mreiaewder shod sot have beers mode within fifteen daps folbvrirsg in dw dab and shag rewoiw iw defavb YnA'1 sold payment shod have been mode. While iw the fiirst wowNs that arsy poyraetst a delingwwt, the Associotiow shall how the right b ngvi?e and npiw poyttaswt of roof wore Mroa S% of Nee aggregate oseovwt of principal and inbrest iachrded in and is addition b the derusgwwt poywtent. All nwken Dad endorsers now a hereofbr becomitq parties Mnb joinMy and rieverody warn dewowd, notice of nos-poywewt and peMpR, owd ogrq thM in /M event of defoYh iw the peymeM of any iasMlbxwf dw hereunder or in the crept of esy 3tf-..zlt ..a.3a. 4:r. rwigaye Deed secYnwg Ihis awe the whole of raid indebtedness sMll Iherwpow of the option d the holier, become immediably dw and poyobM, osd iF this nob becemes in defouh and is pbad in the bonds of ow ottorwey for collection, to pay rwsonoble oMOrrser s fees iwcWdiag bvl aof IirriNd to, oR fees and eels irKldew~ b owy oppwb which swp rewh, owd other costs for tsotiag such collection. (This note a severed by o aortgage of eww dab eaecirbd by tM woken in favor of Home Federal Savings asd loos Association d palm deuch.) ..._.../Sl>t~Y4~4~1A...A.~....SPIRN.OCK.....__ (sEAu ~S~ - _ • (strw RAYMOND A. SPIRNOCR (SEl1l) - (BEAU i A PREPAYMENT PENALTY WILL NOT BE ASSESSED IF THE LOAN IS PREPAID i and shall promptly perform, comply with, and abide by each znd 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 Mortgargor does hereby covenant and agree: 1. To psy all and singular the principal aced interest and other sums of money payable by v;re„e of ss o p.om;swry note and this mortgage, or e,rher, promptly on the days respectively, the same severa!Iy come due. To pay all and singular the raves, assessments, levies, fabifities, obhgarions and incumbrances of every nature on said described property sells and every when due and payab'e according to Taw, before they become de6nquem, and if the same she" ncr he promptly pa;d the Mortgagee may at any rime ~ r••her before or after deI~nauency pay the same without waiving or affecring the opt,on ro forer_'osR, or spy r;ght hereunder, and every payment so made shall bear interest from the date thereof at the same rate as the mortgage note, payable semi-annwtly. ) 3. to order to provide for the payment of taxes, assessments, insurance premiums, and ocher annwl charges upon the property secu:.ng this indebt- f edness, 1 promise to psy monthly ro the mortgagee, in addition to the above payments, a sum estimated to br equivalent to 1~1?th of such items, which payment may be held by the mortgagee and commingled wills other funds a its even funds without interest for the payment of surf. items. If the amount estimated to be sufficient to pay said items is not sufficient, !promise to pay the difference upon demand. The p.ovisioris of this paragraph are solely for ' the added protection of the mortgagee and entail no responsibility on the mortgagee i part beyond the allowance of due aedit, without interest, for sums actwlly received by it. Upon the occwrence of a default under this mortgage, the mwrgagee may apply al! a any pan of the accumubted funds then held, upon any obligation secured hereby. 1. To keep the bu;td,ngs and ati equipment and personal property now or nereafrer on said p•emises, cornered by this mortgage. insured in a sum at ; s least equal to the unpa;d balance of this mortgage, includirsg both fire and ev tended coverage insurance. p•ov;ded, however, that wch inwrance be :n ( amount suf(icien• to comply wash any co-insurance requirements covering same under the laws of the Ssare of Florida, and provided further that the policy - Ij or policies shall be written in a company or compan,es and through an agency ss+istacrory to the !tor:oa9e~ and thss said pofigr or potK~es shall be held by she Mortgagee aid shall hear , era^dard New York Mortgagee Clause without cont.,bution, making the toss under said policies payable so the Moagagee as ;ts interest may appear; and in the event any sum of money becomes payable under any such policy or policies, the Mortgagee shall hart the option to t receive and apply the same on acccunt of the indebtedness hereby secured, or to permit the Mortgagor to receive and use it, or any part thereof, for other purposes, w;tharr thereby waiving o+ impa;nn9 any eq~;ry, lien, or right under and by virtue of this mortgage; and in the event the Mortgagor don not comply with this covenant the Mortgagee may place and pay for ouch insurance w any part thereof witho;,! waiving or affening the option to fc.ectose, j or any right hereunder and each and every payment w made shall bear interest Iron the date thereof at the same rat_ as the mortgage note. payable seR1i- annually. S To permit, commit or wffsr rw waste, impairment or dttsriontion of acid property, or any pan thereof, and upon the failure of the nwregagor b keep I else buildings on acid property in good condition of repair, the Mortgagee may demand the immediate repaii of said buildings, Or an increase -n tt?e amount of sewrisy, or the immediate repayment of 1!N debt hereby seared end the future of Ass Mattlagor to oornply with said demand Of Nee Morsyagee for a period of thirty (3i)) days, shall constitute a breach of this nsatgage, and, at the option of the Mortgagee, immediately maters the entire antounr of prirsci- pal and inbrsst hereby secured, and immediately and withaYt notice, Mee MortyagN may irutitub proceedirsgs b foreclose the mortgage and apply for the _ appoinrmtnt of a Receiver, a hereinafter provided. d. To perform, comply with and abide by each and every stipulations, agreemenn, conditions and covenants in said promissory rate and deed set forth. . n(IK JJ / PAGE 1 u