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Home My WebLink About1717ai The Mortgagur hereby coveusnts wit6 lbe 111ortga~ee~~ th~t hs is indeteaRibl eeized oi asid laad in tee aimple or such uther e~:tste~ d any as is atat,ed 6erein; tha1. he h~ tull pow~r and lt ul rigGt to coo~ ev the aRme as sforesaid; th~L the lunci is iree ~rom all eacumbrancea excc+pt os herein otherwiae rccit,ed; th~t said~lortgagor ~viU make such turlher assurances to provo tLe atoresaid tatle to sud land in said Mortgagee ~e may be renson- ablyreq uired, snd that said Mortgago~ Joea 6ereby fully warn-n0 the title to said land, ~nd every part tlie~eot~ and aill delend the same against the lawiul claims of all persona whomsoever. YROVIDRD ALNAYB LI1sL 1~ t~1e ~~O~t$YgOf' Bb~II ~1~y IlII~O ~0 MUiI{~1L~tl6 1~11~6 l'~!ltl~ulil j-TuTiii+-ti~l'Y IIO~rB~ oi which t6e following is a aubst~atiat oopf~ to wi6: = 33, 750.00 Lake Worth , ~ori~, ~ 1981 • FOR VALUi RtCtIVSD~ the undersi~ed promi9e(s) to psy to FIRST FEDERAL SAVINGS & IAAN ASSOCIATION OF LAKE WORTfi America . s corporotion orgaaised and e:isf,ing under L6e ]swe ot the United States of /. or order~ lhe principal sum of THIRTY-THREE THOUSAND SEVIiN HUNDRED FIFTY AND NO/100 --------------- ~~ (i 33, 750.00 )~ with interest lrom date at the rste of Fourteen per oentum (14.00%) per annum on the unpaid bslance until paid. The eaid principal sad interest ehaU be payable at the oRce of FIRST FEDERAI, SAVINGS & LOAN ADMINISTRATIVE CENTER, 2601 Tenth Avenue North, ia Lake Worth, Florida 33461 , or at such othcr p1acE aa t6e holder msy deaignate in ~vriting delivered or mailed to the debtor, in monthly inst~allmenLe ofThree Hundred Ninety-Nine & 94/100~1~ (= 399. 94 )~ commencing on the Srst day of May ~ 29 81 , and oontinuing on the firet day oi each month t6ereatter uatil this note is fully pud~ eacept that, ii not eooner pud, the 6na1 payment of princapal and interest shall be due and gsyahle on the 6rat day of April ,2011 .* privijege ia resecved to prepay st any time~ without premium or fee, the entire indebtednees or any psrt thereot not less than the amount ot one instaliment. or one hundred doUars (a100.00). whichever is less. PrepaymenE u~ fi.ti shall be credited on tbe date received. Putial prepayment, other than on an installment due date~ need not be credited until the next tollowiag insWlment due date or thltty days atter such prepayment~ whicAever is eulier. If sny deficiency in the payment of any instoillment under this note is not made good prior to the due date of Lhe next such instsllment, the entire principal sum and accrued interest shall at once become due snd ~sy- sble without notice at the option ot t6e holder of this note. Failure Lo exercise this option shall not oonatatute a waiver of the right t~o exercise the same in the event of any sub~equeat default. In the event of default in the payment of t6ia note, and if the same ie collected by an attorney at lsw~ the underaigned hereby agree(s) to pay all ooata oi collection~ including a reasonable sttorney's fee. Thia note ia eecured by mortgage of even date executed by t6e undersigned on certain pmperty described t6erein and represeata money actuauy used for the acquisition of satd property or the impmvements thet~eon. Preeentment, proteat~ and notic~s are hereby waived. * Additional monthly payments shall be made to establish and maintain a non- interest bearing escrow account for payment of taxes and insurance. M_._THOMAS M. COLYARD. JR. -_-__ [SEAL] ------ ~~L~ jN .RID COLYARD _ [SEAL] _.__.___._ ~~-------- [SEAL) And ahall duly, promptly, and fully perform, discharge~ execute, eBect, complete, and comply with and abide by each and every the stipulations, agreements, conditions~ and covenants of said promissory note and oi thia mortgage, then thia mortgage and the estste hereby created shall cease and be null and void. The Mortgagor lurther oovenants as followa: 1. That he will pay the indebtednesa~ as hereiubefore provided. Privilege is reserved to prepsy at any time, without premium or fee, the entire iadebtedneas or sny part t6ereof not less than the amount of one installment, or one hundred dollais (~100.00), whichever is less. Prepayment in [ull shall be crndited on the date received. Partial prepayment, other than on an installment due date, need not be crediled until the next following installment due date or thirty days after such prepayment, whichever is eariier. 2. In order tnor~ (ull~• to prote~t th~ s~~urit~- of this n~ort~ag~, the ~foriRaFor, togetl~~r with, and in addition to, ih~ monthl~- pa~•ments and~r th~ tern-s of tht~ not~ s~~ur~~l h~~reb~•, on ihe first da~• of ~a~h month until the said not~ is full~ paid, vrill pa~~ !o th~ `tortRu~-~~, as trustee, (und~r th~ t~rn-s of this trust as herrin- after steted) thr following su~ns_ (s) A aum equsl to the ground rents, if any, next due, plua the premiuma that will neut become due and psyable on policies of Sre and other hasard insurance covering the mort~aged property~ plus taxes and assessments next due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is noti6ed) leas all sums already pa~d therefor divided by the number of months to elapse before one month prior to the date when such ground renta, premiums, taxes, and asseasments will become delinquent, such sums to be held by Mortgagp:eintrusttopaysaidgroundrents,premiums,t~uces~andspecialassessments. (b) The aggregate of the amounta payable pu~suant to subparagraph (s) and thoee payable on the note secured her~by, ahall be paid in a s~agle payment eac6 month, to be applied to the foAowing items in the order stated (I) ground rents, ta:es, aseessmente, fire, and other hasard insurance premiums; (II) intereat on the note eecured hereby; and (III) amortisation of the principal of said note. Any deficiency in the smount of such a~~re~ate monthly payment shall, unless made ~ood by the Mortr gsgor pr~or to the due date o( the next such psyment, consc~tute an event of default under this mortgage. At Mortgagee's option, Mortgagor wili pay a"late cl~arge" not eaceeding four pcr centum (4%) of any install- ment when paid more than Siteen (15) days after the due date thereof to cover the extra expense invoived in handling delinquent payments, but such "late charge" shsll not be paysble out of the proceeds of any sale made Lo satisfy the ~ndebtedness secured hereby, unless such proceeds are eufficient to discharge the entire indebtedness snd all proper costs and expenaes secured thereby. 3. If the tota) ~f th~ pa~-~n~nts n~nd~ b~• the ~1ortKa~or un~l~r (e) of para~;rnph 2 precedinR shal) exceed thP amount of par~nents a~tuall~- n~a~l~ t-v tf~e ltortKa~ri~, a4 trust~~, for Kround rents, taxes and asses.¢ments, and insu:an~e pr~miunis, a4 th~• ~asc ina~~br, su~h Px~PSS shall b~ crPdit~~1 on sabseyucnt pa~'ments to be made b~ the ti(ortgaKor for su~•h itFmc or, nt~ ilortgn~~F's option, ac trustee, shall bP r~funded to ~fortgaE;or. 1f, however, su~h monthl~• pa~•ments sl~oll n~t• Ix~ suffi~~i~nt to par su~h itemc when thP same shall become due end pat•able, then the ~tortRa~or ~hall pn~• 1o th~ ~1ortKu~e~•, as truste~, nn~- amount necessarv to make up the de~i~icnc~•. Surh pa~-rn~nt sl~nll-b~ ma~l~ within thirt}• /:s~) da~~ after w-rittPn notice from the :1~fortgagee ststing the amount of the deficiency, wl~ich~notice may be given by msil. If at any time the Mortgagor ehall ~_ G.~ d ~ c rr ~ ~