HomeMy WebLinkAbout2433PROYIDED, ALWAYS. that if the MortRagoc shall pay unto the Moctgagee the certain promissory note ot
~.~hich thc followin~ in words and figures is a true copy. to•wit:
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HOME FEDERAL SAVINGS At~1D LOAN ASSOCIATION OF PALM BEACH
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Hu~n~-r` e`c~' an~°"t'~o'~~b°w" °' ~''''°`''• "°`'d°, w°~d•r ~M w~ 01 70300. oo. ~
~~ ~~ a~t~~~ ~~ i~ ~*y i~ro~~~a ~ N i ne Hund r ed Th i r~Y un~ and
~~ ~~ ~~ ~t 9 31. 4 8 ~.
iM R~M wo~tl~l te~taflrwt siw11 M dw o~d porabb on tM 15 t d~ ef M a r c h 19 81 ~
.ubwqwRt Mdallw~wh ~oq b~ dv~ oud psyobb on tM lst dop of wel~ osd Mry mM~dar
Mon1h IMnoitK v~Nl tM pi~dpol oed isNn~t or~ frMy poW.
AN pap~l~ ~oq b~ opp4~d ~nt b tat~~~~t on 1h~ unpoW bob~ ot 11y -at~ Mnia ~p~c~fi~d ond IMn- M prindpuL Aay o+rew~l ~r M
pr~poid witi-art pn~iur~ or IN YPOA tAb obliqotioa w o~r 1ia», and in~~n~1 ~Aail b~ cokvloNd ot oq tu~ on 11N YA~ LOIOK~ o~ tlN d~ilp
roh bow ot 1/3601M ef rl~ annuot ~at~ p~~ dry: Provd~d Ihot M~ ~cia~on~ (or u p~riod of fiw (S) pwn (ro~u tM doh h~ne4. ~eU Aaw 11-~
-ipAt 1e nqvin porMef of ~w1 ~on tl+an on~ hundr~d ~iphyr (160) do~ odronc~ inM~tt on that pwt of IM op9npot~ a~~f el ~p reMrNory
pnPnpw~nM wod~ w Ib~ boa fn onp ow~ ywr wA'~ ~:cetds 40 p~rc~nt o( th~ wipieal priscipol o~ouM of M~ bo~. iinnofN~, Vep~~ e1
th~ ~etin u~poid priscipol will b~ pK~aifNd wiMoW p~nohp. Tfi~ pors~nf of {arp~r w~s in odditioe fo /M pry~~b h~hin nqritid il~eq sot
nN~w fIN wak~rs of IM po~nt of tM wa+tt-Ir inftollwMS h~nin prorided ior, ~n'~~s it is ~p~cifioollY itipvlat~d bp 16~ wok~n at tl» ti~ af
po~nt 11wf weA krpK wwt an ~o b~ oppli~d to 11N odronc~ p~ruwnl o~ th~ ~ooMly instolbwnri n~:t wahrrin0 iw tM ord~- ef fl~~k dw dohs.
n,~. ow~~ ~wn b.a. inhntf /rq~ dw~ o- tA~ raM of Fif teen and Three-Quarters~ ~~ 15.75 ~~
p~r s~n~w YRK~ IIN {MK~OI aed 1eNnsf oh fvllp poid.
A paynwnf is d~linqu~nt ond Mis noN ~hop M coniid~nd In d~fo~M v~6~n awp paprwl ep~ind w b~ ~ad~ M~~i1lYlld~f sAoll eot how be~n
mad~ vri~hin fiftNe doys Mllorrinp its dw doh oad ~Iwll n+w~n tR d~fwh uatil aaid pori+~wt tl+oll hov~ bHn wwd~: W6i1~ in tM fint wontl- tfio*
o~r pa~rw~~M is d~linqu~nt, fl~ Aswciation sAoll how f6~ ripht_ b nv~N~ o+d r~a~w Pep~af ot not ean Mow 596 of M~ apynpot~ o~ount of
pti~cipsl and inhr~st intlvd~d in ond in odditioe 10 /M d~Gnqwwt pryMet.
All nwk~rs oad ~nda+~n wow a 1-~no1t~- 1»co~i~q PoA~es 6~nb joinNy and uv~raily v.oiw deaand, not~ of now-payws~t asd pr~oM~b and
oprs~ 11~of in IIN ~rfA} OI d~OYM II~ M~ pqw~nf of anr intfolleent dw henunder or in t6~ ~vent oF o~ry/ d~forh undM tM ~ap~ d~~d Narrin0
tF~is nW~ ~A~ ~rAol~ 01 wid ind~bNdn~u shall 11Hrwpon at th~ option of th~ Iwldar. beco~se ~mwed~at~lp dv~ and poyobl~, ond i! tha ~01~ b~coMs
in d~faYh owd i~ ploc~d in tM honda of an atlorn~y For colbction. to poy nosa+obl~ o„orne~r i fe~s iwcludinq Iwt not Giaihd to, aN (NS awd cosb
incld~nR b oup opP~o~+ whicA woY -~wh, oud WA~r costs for swkiny sud~ colbction.
(Thl~ ~ i~ Marnd by o woApap~ of ~ww doh t~ucvt~d bp tM wwk~n in fwu ol Moa F~derol Swinps ond loan Aasocieta~ of -oMr l~acU.)
/S/ALBER'L' E. MEIHOFER
. .............~rb$ER~'. ~.~....M£IHOF£R. .._. ~s~)
/S/ ELIZABETH L. MEIHOFER
S~L~ZABB~'H ~~.....M&IHO~BR---:... .... csuw
.............................. . _ ... cs~u~
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_..... . . ......._ _.. ..... cw-u
** A PREPAYMENT PENALTY WILL NOT BE ASSESSED IF THE LOAN IS PREPAID
FROM THE PROCEEDS OF AN ARMS LENGTH CONVEYANCE.
and shall promptly~ perform, eomply with. and aoide by each and every the stipulations, agreements, conditions, and
covenants ef said promissory note and of this deed, then t he estate hereLy created shall cease and be null and void.
AND the 114ortga~or does hereby covenant and agree:
1. To psv +11 ss+d s~~g~'ar the pr~nuRa) and interest and o~her sums of money psyable by v~n,,e of sa d p.om~sso~y note and th~s rro~tgage, or e~+her,
prompt{y on the davs respect~vely, ffie same~seveqlly come d~e.
2. To psv al: s+x1 s~~a:•~a~ ri~~ ta^es, assessmmrs, lev~es. liab~l~~~es, bb~~q~•~ons and incumb.ances of eve.y nature o~ sa+d describcd property e~:fi snd
e:er~ when dae an~ pa~ab'e atcord ~g +a law, br/o+e -hey become dei~nqoe~~, and ~I ~F.. sa~++e s~a'! rct bc prompr!y p~~d the Mortgsgee may at a~y time
~.rher be~o~e o~ afeer det;na~ency pay she same witfiout w~;ving or si~ect~eg the opnan ~O SD~li'OSC. O~ ~~y r.gM hereunder, and every O~Y^'~ent so msdt
<~,~II bear iMerest from the date fhcreo~ ar the same rate as the mo~tgage no~e, payable sem;-annua~~y
3_ In order to p~ovide fa the payrnent o( ta=es, asussmems. ~nsinance p~emfvms, and other annwl charges upon the p~operry secw~ng th~s indeM-
e~ness, 1 promise to pa/ monthly to the mortgaqee. ~~ addlrion to the above p~yments, a svm est,mated -o be equ~vafenr to 1/12th of soch items, wh~ch
payment msy be hdd by the mortgagee a~d cortm~ngled with other iunds or ;ts own f~x,ds w~thou~ ;r.terest fw the payment o4 such ~tems. If the amount
esf:mated to be sufFiuem to pay sa~d ~fems ~s not suffic~ent, 1 prom~se ~o pay tFx d~fie~ence opa~ demand. The prov~s~ons of this paragraph are solehr for
the added Wo~ection of rhe mortgegee and enta~l no respa+s~b~Lty on the mo~~gagee i part beyond the a~~owsnce o~ due ved~t, w~ttaut intercst, fw sums
actually recdved by rt. Upon t1,e occvnence of a defaub vr+der this mwigage. the matgagee may apply all w any part of the accumu~ated funds then held,
uoon any abl~gaGon sec~red hereby.
1. To kcep the bv~~d~nqs and sll equ~pment and persor~l p~operty now or neree/rer on sa~d premixs, tovtrr~ by this mortg~gt, insured in a sum at
4est eqw! to the ortpa~d ba~a~ce eF th;s mongage, inc:od~ng both f~re ~nd e. ~ended cover~g~ ~nwr~nce. pro~~ded, howevfr, ~hat su:h insur~nce be in
aTaunt s~lf~~ten~ ro compl~ w~~h a~y co-~nsurance requirements cove.mg same ~~der the laws of ttie S*a'e of Flor~ds, and provided (ur~her ths~ rhe pol~~y
o. poi~c~es shsi! be wr~r.en ~~ i Compi~Y Or tOmpanitf a~d Ihrough an agency sa•:a~ac~ory to rhe Monasgr a~d ~hat s~~d poliq or pol;ctes sh~11 be he~d
by the ~Ao~!~agee s~d sha!~ bcar a s~a~dsrd New York Moregagee Clause withou~ contnb~rion, mati~r.9 the toss under said policies payih!e to the Mo:tg~gee
~s ~rs ~nteresr m~y appatr; and ~n ~{,e event any wm of money beco~-~es payabte under any such poGcv or pcfc~es, t6e Mortgsgee ~hall have the opt~on to
nce~ve ~nd app~y rhe eame o~ acmant of the inaeb!edness hereby secured, o~ +o perml+ ~he Mo.}gago~ to rece~ve s~d ust it, or any part thereot, ior dher
p~rposes, wuhov+ rhereby ws~wng o~ ~Tpa~~~~g an~ eq~~tY. fien, or r~ght vnder and by v~rtve of ~h~s mor~g.~qe; and ~n the eve~t the Mo:egsgor does nof
compty with ~h~s co.enam ~Fe Morigagee msy place and psy !or eucb insurance w~ny parf thereof w~rhovt wa~v~ng or •ffecring the opt~ lo ~orecbse,
or •ny righe herew~der and each and every paymenr so made sh~ll bear ~merest (~om the dare ~hereol at the same rat. as the morigsge note, p~yabk semi-
ann~ally.
' S. To permi~, cor~ser+~t or wffer no w~ste, irnp•~rmem a d~r~riw~~an of ~.;d Rrop.ny, a aiy p+rr thereof, ~nd upon th~ I~:lun of ~M mortypu to k~ep
tM b~i{d;nps on sa,d pep~rry ;n pood cond~i~on of rtp~ir, tM Morfya~ m~y dcmu~d ~t» imnediare repair of ~a~d build~~ps, a~n ina~ in tM amouN
of Nwriey, a rht ~mmed~ate r~paym~nt of tM d~br henbp ita+r~ and M~ f~~lun ot tM Mwtqpa to canply with sud d~mand of tM NSoety~y~s (or ~
p~riod of ~hirty (30) days, sha0 con~rirut~ • lx~ach of this mortyp~, a~d, ar ~he option of tFK Ntonpye~, ~mmedwr~ly mat~n M~e entb~ ~mounr of prir-cM•
p•I and inhreu hersby sccured. ~nd ~mmsd~~~ely rnd withour notip. 1M AAo~tqps~ may i~+teitut~ ptoc~d;nps to fo~atloN this mOrtpp~ and 1pp1y for IM
~ ~ppo]nrm~nt ot ~ Rec~~r~r, ~s her~~ndN- prwid~d.
6. To perfum, compty w~rh ~nd ab~d~ by ~~ch and w~ry u~puutiom. ~presms~u, cond~+an• .nd cov~n.n~ ~n ,ad p~om~s.ory non and d.~d wr for~F~.
~ ~~~K34~ PACE~427
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