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COMh1UNITY FEDF.RAI. SAVINGS AND I.OAN ASSOCIATION OF THF. PALM BEA~;~ES
RENEGOTIABLE RATE MORTGAGE NOTE
RIVIERA BEACH, FI.ORIDA y,_ n` '. 1 19 8 j
/ rl O~LCaG 'T
Nr~ng mJehtrd, fui .alur rern~ed, the undenignrtl, hereinafter cullr:u~rly ca11eJ the "liorrower", jaimly and se~erally promise to pay to
('O~1~tUNITY Ff l)t:RAI. SAYINGti AND l.OAN ASS(X'IATInN OF THE PALtit f3EACHES, or order, a~ ils offict a~ 2600 Brwdway,
Riviera Bra:h, 1 lorida 33~tOS, ur at ~uch othc~ plare ae ~hr hulder hermf may Jetignate, the +um ~~f FIFTY TWO THOUSAND
SEVEN HUNDRED AND NO HUNDREDTtfS--------------------------- ~~1_I.ARSIi 52,70U.00 ~
tugcthrr with inarr+l Ihercun as hcrr~naftcr ~iatcYi in m.~nthly in~tallmrnts of SiX Hundred Sixty Six and
?7/100-----------------------------°--------------------- pO1.LARSIS 1•
666.37
The finl in~taliment ~hall tx dur and payable on the jOth ~d~ "~ Apri1 .~y 8~nd subuquenl install-
ment~ ihaU tx due and p:.~aM~ on the j ~~1~ of each and r~er~~ calenJar month ~htrrafter until ~he 3~7th day of June
. 19 84lend ot the "Ini~~al l.oan Term"). Nhen-ihe outtit~nding principal balance rogefher with any acerued and un-
pa~d mteretl ~Aall hecomr duc and pa~ablt, unlr~s Borrower ele~t~ to rxtend the term of thi~ No1c a; herematter se1 lorth.
f'rwr to the cnd ul ttic Imual 1 uan'(erm a..-cl1 a+ wbuqueM Rcn~wal 1 uan 1 erm~.-Fkxrower chall havt Iht oplion to estend the term o(
~hi~ Nutr t+eye~nd thc end i~l thr.urrcni 1 u:+n lerm I~~r adJihonal upatatc Ihrir 1~P)rar prr~ixl~ 1"Rencwal Luan Tetms"-, a1 Ihe inttrest ralt end
munthly paymeM+ hercmattcr +rt furih. {'ru~~JtJ, huwr~e~, Ihe (inal RrnrMal I.uan ~er~n ma~ hr fur a ~xriuJ o( Icc~ than thret (J) ytats w that in
no e~~ent ~hall the "Final htaturity Date" o( ihi. notc hr etitendcd txyond the jpth day of M~iCh •~ j j . when all
+ums 1hrn remaimng due rogdher Nith accrurd mterest shall immnliatN~• becbme Jue and payable.
Thit obligahon shall bear interes~ from 1he Jate o( disburument of this No~e at the rale of F2 fteen-------------------
per cem ( n r~) per annum 1"Original Interest Ra~e"1 unul the end of ~he Inilial L.oan Term. Thercafter a"Renew~al Interat Rate"
shall be in e~~t QoT each subtequent ReneMal l.oan Te+m. The holder shall und HorroMer a w•ritten "Renewal Notice" at least ninetp (90- days
betore Ihe end of the Initial Loan Term or the end of any Renewal t.oan Term excep~ the final Renewal Loan Term, speriE~~ng that un{ecs this Note
is paid in full on or beforc the end o( the currem Loan Term, it well t+e awomatically rcncwed tor an additional Renewal Loan Term at the interest
rate and monthly pa~•mrnt epccified in SaiJ Noticc ac calculated by holder in ~he manner hereinafter set torth.
Adjustment~ in ~he mttrctil ratr of this [~lote after the end of the Iniual Loan Term shall be based on changa en the "Monthly National
A~erage Con~ract Interctt Rate on thr Purchax uf Nreviuusly-(kcupied Homec for all ~taj~r l.endetc", an index furnished by the Federal Home
1_oan Bank Board, an agrncy of the federal governmem, hereinafter c:~lled tht "Imicti". The intercsl rate for each Rrnew~al Loan Term shall bt 1he
Original fnterest Rate plus the ~hange in the Inde~ ati measureel by the difference betN~Yn the most current available InJea at tht time of the
RcneMal !~ouce and thr "Ba~e Indet Rate". 7he Hax Index Rate thall be the most rrrcnt a~ailable Indez un the 30tt d~Y O1 JuAe
, 198j Inrreau+ in the interest ratr r~~uhing from dif(crence~ in the Inde~ as a(oremenuoned shalf be optional
Nith ~hc noldcr. but chall nc madc unlr+. wancd hy the ho:der herco( in Nnnng; ho~r~cr, any rc.ultmg dc:rca~c~ in the inter~+t rate chall Ae manda-
tor~ w a~ ro e(fetl a reducuon m the munthly pa~ments rcyuired dunng a wbceyuent Renewal Loan Term. fhe momhly payment m effect tor tach
subuyurnt Rencwal Loan ierm tihall be an amount wfficient to amorure the principal balan~e at the end of the current Loan Term (assuming all
payments are madc on or hetorc their due date unul ~he end of the currcnt t.oan Term1 in e~ual mcnthly in4tallmrnts over the remaining term of this
Note from the end of the current Loan Term ro the Fir.al 1latunty 1)a;e ai the mtere.t rate for w~d Renewal Lcan Term ati hereinabore calculatecl.
At renewal thc m~~imur-i mterc~t ra~e inrrcase or derrease tihall t+r one and onc-half 11-' :1 Ccrrrmagc {+~~ints. At n„ tzme dunng the entire
term of th~c Votc may ~he Rrnewal Intcrrst Rate tx morc than fi.e IS1 perremage ~wm~s m etre.t of the Onginal Intcre~t Ratr or more than five (S)
pcrrcn~agc ~ximh Ins than thr Original Inrerr.t Ratc
Interect for each ~alcndar munth ,hall be arrrued un the fint day of ~aiJ monih and tx cumputal on ~he unpaid balance of principal and
intcrest cxicting on thc last da~ of ~he preittfmg month. ih~c Note ~hall t+c rumidered ~n defauU whcn am- pa~mrnt required to be made hereunder
shall not ha~e been madr by i~c due date anJ shall rcmain in default until tiaid payment +hall ha~e been made. K'hile in deiault, ~his Note shall bear
mterrst at tne rate of three per cent i3Pa1 pcr a~num m euess ot Ihe ratc hcreinbefore tpe:~fied, and hoider dunng defaul~ may at its option rcfuse
to accept pa}ment of an~~ tum less than tht total amount thcn due ur derlared hereunder to be due.
All makcr. and rndor.rr~ n~~~~ un c~rc:~ltcr txcuming pariic+ hcrNu ~aintl~ aud .~~rrallp wai~c dcmand, outice u( nc~n paymenl and protest,
and -e~ree tha~ m thr c~ent o( dctauli in thr pa~mrnt i~l am in+tallment due hereundtr lur a rrn~H10( thirt~ 1)~~1 Jay~ the Nhuic of said indebt-dnesc
,hall thcr~up.in at thc optwn nt ihr hnWcr hrannr immrdiatcly duc and payaMc; and. ~I ~hi~ Notc hc~omc~ m dctrult and i~ plarr3 m the hands of
an an~~~ uc~ fo~ .~~I~r.t„~ii. tc, pa. fCd~Uil:lhlt' Jill~flll"~'~ fcr, and alf orhrr ~o+t~ in_~lu,hng r~„~~ and auurne~, lee~ of ap~xllatt rnutl proceedmgs (or
maki~if .uch collrihun
l h~~ Vute ma} t+r prr{+aid m K hulr or m par~ at am umr on ur attrr n~nrh~ 1'M-- da~~ pnur w thr rod ul the Inn~al Loao Ierm. If this Nute u
prrpa~d in whnlr ~~r in part hrlure ninrt~ 190) d:+~~~ ~n~a io the end of thr Initial 1 oan 7erm, the under.ignrd ,hall pay tu the holJer hereof a ~xnalty
ul .ia nwnsh~' mtrrc•t ~~n ~hc .im~nmt h: wh~ch ~lir wm ~if prcravmrnt. nc~dc m nm ~wchr rn~~n~h ~~rn~rtl caceed~ Iwcnt~ perccm (20r~- of ~hr
u~~Kinal pnna~.~l ut tlu~ hinr
An> nuurr I~r It~~in~wrr pnn~drd tu~ m 1h~, \utr ~I~rll hr Kncn !» madin~ .u;h nuu~r ~Jdr~~.cJ ~u li~xruwcr sI Ihr adJrcs~ uf th~ murt
KagcY1 prupert} .ciunnK !hi, hu~r ~x t~~ .uch ~Hhcr .~Jdre.. a. Hurruwcr may dr+iKn~~c h~ wrincn n~~ine tu Ihe holdtr hur.~t. Any nouce to ~he
hulder uf lh~+ N~~~c ~hall Fx fi~cn h~ tn:uiu~K .u:h m.~i~c ;u Ihr h~dJct :d th~ .~dJrc~+ .IercJ m Ihr Lc.~ ~~ar~~raph uf Ihie N„t~ iir ai ~~ch addre.. a.
may tr. dc~ignaicJ h~ Nnitrn n~~1i.c tu Iwrrr~~ar~.
I he indebicdnc~~ c~iden.rd h~ !hi. tiwr r, .c.urrd hti a mun~a~r of r~en d.itr cir.uird m ta.nr ol ( ummumty- fcderal Sa~mg~ and Loan
Au~~atiun of Ih~ Pal/n Hca~he~.
Itit-AI t _.__ _ _---- IS~AL-
Edwin T. Hyde, Jr.
Joan S. Nyde
_ ~St'.A1.1
_.-- ISFAI )
.u~~l .6all pruiupth ~N•rluriu. ri~u~ph ~citl~. :~u~l aLid~• bp rach :u~J ~•~en th~• stipulatiu~u, ay;rceinentc. con~litiun~. :,nd co~~~nant~ o( said prom-
~.:un• not~~ and ni thic de•e~~l. th~~n tlie~ f~f.d~• h~•rrb~ crcat~til sh:ill cr.i.~• ;~nrl -N• null an~l ~•~~id.
:~\n th~• Jlurtyt:i~nr tl~H~~ lu•n•l~~ r~n~ n.:nt ::n~~ .~~:~i :
~ I. ~~u p.~~ :~II an~l ~in,uLu tlu• priuc~p.il .~n~l int~•n~st aml oU~cr ~u~u~ uf ~~~~~~~~•~• p..~:~Lle~ I~y ~irtw• ~~f ~:~i~i ~uuini.wn- nut~~ :uKi tl~i, mort-
~ ;.~_~~•. ~~r ~•ithrr. ps~,~uptly un thr ~la~c rc~s~xciiv~•h•, the sarnc sc~•crally comc du~.
~ 3.. "fn p.~}~ :ill :~u~l .iu~~ilar thi• ta~~•s. a.u~.smcnts, lc~~i~~s, liabilitirs, ~~lrliy~atiuin au~i ~•ucuuiLranc~~ of c•vcn• uaturt~ on said dc~scrilxYl prop-
~ ~~t~- i ach .ual ~~c<•ry~ ~ch~•n ~Iu~• ;uul pay.+l~l~ acc~~rrdint; to law. hrfore fl~rv IK~ro~n~• d~•lin~~u~~r~t. :md if tFc samc chall not l~c pro~npdy paid
riv• ~turt~.~r~•~• ~uav at :im• tiru• rithcr ix~furc or aftr. dclinqucncy p:i~- t~~~ san~~ w~thout waicin¢ or a(fcrtin¢ [hc option to foredose, ~r
~~n riLfd h~•n•nr~~l~~r. :ind ~•~~rn~ paym~•nt ~o nzade• chall bcar interest frnv~ ~h~• ~L•~t~ th~reof at t6c r:ite pro~~idecl in said promis.wry note.
3. "f~~ k~r p th~• Liil~lints and all cr~uipm~•nt :~nd pe~nrnetl prop~~:t~' nr~~c or h~•rcafter on said prcmisc•s, co~~ered by this mortgage, insured
~u :~ ~mn at Ir:~st e~~~u:sl to lF~c unpaici b:~lanc~ of thiti mnrty:a,~e, includine fin•. f1~Hx1, ~xtended co~eraQe~, ~•anclalism, m:+licious mischief, and
~ ~na• uthr~r cmt•rac~~ r~~~nircvl b}• tli~• iuurh:a;e•~~. ac 1~~ pru~h~rtirs oth~r d~an ~1..~~llin~;.. and fire. Aoocl, c~~~craBe' s~e~~~ other~Peri11
~ tS'~'1K i'Alif 1 Z~