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Home My WebLink About0642 PROVIDED. ALWAYS, that if the Mortgagor shalt Itay unto the Mortgagee the certain promissory note of ~.•hich tlk following in words and figures is a true copy, to•wit: G~ HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF PALM BEACH II~t~~~e ~D~~ St. I~cie ~I.rw~ad?, Florida, is fieitq iwdebted, for voles received, the Ywdersiyned loiwtly old severalty prowiw b pay to NOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF PALM SEA H et iri otfke 1 tM Town of Poles lieotly Fbddo, or order the roes of Sixty Two Thousand Nine 9undrec~ and Not 100 62900.00 1 wyNlt~rl O inNresf tMnew a hereittofter stated iw wonthly inslollweny of Seven Hundred Twenty and 720. 8,.i3~~ 83 20th Decembe~~( 80 1• TN flnt ettatMly bstollwent shall be des and poyobb on tM day of 19 , oad wbspvewf iwsto!latents shag be des and payable on tM 2~h day of each oed every calewdor womb 11Nreofter vaHl the prlacipol and inbrest ore fuNy paid. ; All paywenri shall be applied Ent b interest ow Me unpaid bobtsce of Me rate Mrein specified and Mon M principal. Any oesnvat wOI? bw prepaid without pnttsww or fee upon Mis oblipatiptt at any tiros, and interest shall be wkubted of all owes on the unpaid bobtw ow the doily rob boss of 1/Sr301h of Ms onnwl rota per day; provided Mat Me Agociotion, fro a period of ties (S) goon frow 1M dots hereo/, shall hove the right b squire paywenl of not moors thou one hundred eighty (160) dtsys advance interest on Mat port of IM opprepaN etwoYM of all trolvwlory pnpoywenri ttoode ow Me loan in any one year which exceeds 20 percent of Me original principal owouM of the ban. TMnafbr, pnpoyttsewf a! the antis unpaid prinrpol will be perwithd without penalty. The payment of larger sums in addition to the paywenri herein required shah not relieve 7M wakens of Me poyntent of the rraonMly instolltwsttri Asrsin provided for, un:eb it is specifically sfipubted by fbe waken al Me tuna of poywtent that such btyer tarot ors to be applied to Me advance poytwsnt of Ms tsooMly instolhwenri ns:t atabrinp in Me order of Moir des dabs. Thin oblipolioa shall best inbnsl (row dog of the rat. orr'`hlrteen and One-Half PK coat ( 13.50 x) per ensues unh'1 Me principal old inbnst en fully paid. ' A payntswt is dslingvent and Mis note shall M considered in dsfauh when any poyweat squired to bs taade hereinunder shall not haw been mods within fifteen days folbwing its des dots and shot) necrosis in defavh until sold poywent shall hove been mods. While in the fist nanM-Maf any poywsnM is ddingwnt, Ms Association shall haw Me right- to rewire and reaiw poyrwsat of not won Mon S% of Ms opynpab atwount of prinapo) and inbnsf inclYded in and in addition b Me dslingwnt paywtent. All nwken and endorses now or Mreofbr becoming grties hereto joinNy and sewrolly wales dowered, notice of non-payment and proMt, and agree Mot in the event of defavh in Me payment of any installment due hereunder or in the event of any defavh under fM taoApage deed wearing this note the whole of sold indebtedness shall Hereupon of Me option of the holier, become irttmediobly due and payable, and iF Mis twb beeoates in defavh and is pbtssd in tM hands of an otbrnsy for colbction, to goy reosonabls aHorwli s fens inchtdinp but not liwited >o all fees owd loth incldewf b oay oppsok which may rewh, owd oMer costs for making such collection. (TAFa note is wwred by o twotiyope of own dab ettacuted by the woken in fovrx of Home Federal Sovitgs and Loan Association of Poles flsacb.) /S/DAVID A. SALTMAN /S/ ROBIN M. SALTMAN __.........DAifID .14. .SAL'#'NtAN _ _ _ (sEAI) _ ROBIN- M, .S-PLL~`I'iyAN... . (sEAu I (SEAL) (SEAk) . i E ~ A PREPAYMENT PENALTY WILL NOT BE ASSESSED IF THE LOAN IS PREPAID FROM THE PROCEEDS OF AN ARMS LENGTH CONVEYANCE. and shall promptlS• perform, comply with, and abide by eaclT and every the stipttlatjons, 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 alt and si~gu!ar tF.e principal and interest and other sums of money payable by v[rr..e oc. said prcmiss~ry note and the mortgage, or Nrher, promptly on the days respec+ively, the same severally come due. To par all and anq_iar the ra.es, assessments, levies, liabilir'es, obGga•:ons and incumbrances of a:erg nature on said described property ea:h and eery wF.en due and psysb'e accord.ng to law, before they become delinquent, and if the same she!! r.cr t,~ premptty paid the Morgagee may at any time e then before or after dc!:nauency pay the same without waiving or affect:rig the option ro forecbsc, or any right hereunder, and every payment so made s~~a!1 bear interest from the date thereof at the same rare as the mortgage note. payable semi-annwlly. 3. In order to provide for the payment of to¦es, assessments, insurance premiums, and other annwl charges upon the property securing this indebt- s e~ness, 1 promise to pay monthly ro the mortgagee. m addinon ro the above payments, s sum esnmated to be equ~valem to 1! 1?th of such items, which payment may be held by the mortgagee and conrrringled with other funds or its own funds without interest fo• the payment of such items. If the amount rsrimated to be sufficient 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's par! beyond the allowance of due c.edit, without interest, for sums acrwlly received by it. Upon the occurrence of a default under this mortgage, the mortgagee may apply all or any part of the accumulated funds then held, upon any obligation secured hereby ~i d. To ?eep the b•,:!d,ngs and a!I equipment and personal property now or rereaher on sad premises. covered by this mortgage, insured in a sum at ; !east equal to the unpaid balance cr this mortgage, including both fire and e. tended coverage ~nsurancP p•o•:ided, however, that such insurance be in amount suff,c:en• to raTp!. with any co-insurance requirements cover.ng same under the la•«s of t!,c S+are of f}orida, and provided further that the policy or poGues she!! be written n a company or companies and through an agen,y sarisfacrory ro the Mo,•gsge~ and that said poGgr or policies shall be held by the Mortgagee aid she!! bear a s•andard New York Mortgagee Clause witho~•r conrnbunon, mal~rg th. loss under said policies payable to the Mortgagee as as Interest may appear; and in the event any sum of money becomes payable under any surh policy or policies, the Mortgagee shall have the option. ro rece.ve and apply tree came on account of the indebtedness hereby secured, or to permu the Idortgagor to recewe and use it, or any part thereof, for other purposes, without thereby wsiv~ng or :r^aa:nng any equity, lien, or right under and by virtue of thEZ n•ortgsge; and in the event the Mortgagor does not comply with This co:enam the Mortgagee may place and pay for such insurance or any part thereof witho,r waw:ng or a?fecting the option to foreclose, o~ any right hereunder and each and every payment so made shall bear interest from the date thereof at the same rat. as the mortgage note, payable semi- annually. s. To permit, commit or suffer rw roasts, impairment or deterioration of said props+ry, or any par: thereof, and upon the failure of the rnott9apor to keep 1M buildings on said property in good condition of repair, the Matpyee may demand the immediate repair of said buildings, a an intreaw in the amount of wcuriry, or the immediate repayment of tM debt hsrtby secured and the failure of the Mortgagor to comply with said demand of tla Mortgages for a period of thirty (3i)} days, shall constitute a breath of this nttortgags, and, at the option of tits Mortgagee, immediately mature the entire amount of princi- pal and innrsst hereby secured, end immsdtarely and without notiu, the Mortgagee may insriture proceedings to foreclose this mortgage and apply for tM appoinrrrtent of • RNfrref, as hereinafter provided. b. To perform, comply with and abide by each and wery stipulations, preemenn, conditions and covenants in said promissory nob and deed set forth. i B~~K 343 F«~E 641