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Home My WebLink About0454 , ; . . . ~ . , ~ j ~ - PROVIDEI?, AI.tWAYS, that if the IViortgagor ahall pay unto the Mortgagec the certain promissory note of H~hich the foll~~wins i~~ wards and figures is a true copy~ to•wlt: HOME ~EDERAL SAVINGS AND L.d~1N ASSOClATIOPI OF PALM BEACH .~I~~'~ ~ E _ , ~ ~ ~ ~ ~ Palm b~cch, Florida, •~O lq_?5 Btin9 indebted, for value receired, the undersi9ned joinNy and ssverally pro ise to pey ro HOME FEDERAL SAY- INGS AND IOAN ASSOCIATIQN OF PAIM BEACH at its off ice in th~ Town of Palm Baach, _ Flo~ida, or order,'the sum of NINETEEN THOUSAND F~VF HUNDRED AND NU/100---------- ~~~~~~¢Q~QQ___~ together with interest then?an as he;einafter staterl in monthiy instcllments of 2y2.00 TW'C~ HUNDRED FIFT'Y TWO AND NQf 100--------'----- ~'~~S (s----_-----_..- 7he fir:t ~ - monthly installment shali be due and poytrble on iha____~~3____________day of___~u!_t!4'.__-__, 19_~~, and subsequent installme~ts ahall be due and parable on the_:.~_5~________________day 4f each and evary calenda~ month thereafter until the principal and interest are fuiiy paid. All parrnents shall be applied first b interest on the unpuid balance at the rate herein sprcified and then to principal. Any omount mor bsi p?epaid without premium or fee u~on this obligation ot any time, and interest shall be - ' calculated at all times ~n the ~npaid balance on the dailr rate basis at 1/360th of the annual rate per day;~provtded ..thot the. Association, for a p8riod of five (5) years from tfie date hereof, sholl have tfie right to require payment of not more than one hundred eiyhty {180) days advonce interesi on .that part of the aggregate amount oE all volu~tary ~re- _ payme~ts morle on the loon in any one year which exceeds 20 percent of the originai principal amount af the laan. - . Thereofter; prepayment of the enNre unpaid principal will be permitted without penolty. In the event a tender of pay- ment of the omount necexsaiy to satisfp the entire indebtedness evidenced by this note, and secured by the mo~tgage . deed, is mede at ai~r time aher a~celerotion for defauit, such tender shall be deemed to be a voluntdry prepayment ef -the indebtedness, and such payment must therefore include the premium required ur,der the prepayment pririteges re- cited hereinabove. The payment of larg~r sums in addition to the payments herein ~cquired shall not relieve the makers _ ` of the payment of -the monthly installmenh hereiri provided for, unless it is specifically stipvlated by the makers at the time of Fayment that such larger suma are io be opplied to the advance payment of the monthly i~stallments next metur- ing in ihe Qrder of their due.dafcs. ~ ~ . This obligation shall bsar"~irtterest from data et the rote of_NII~IE-&-C~P+1E_H.ALF.-_-_per cant (_9_1~~__%) per annum until the princ+pol and inte~est are fuli,~ Qaid. ~ , . Interest for each celender month shaN be accr~.?ed on the first doy of said month and be computed on. the unpaid bolaice of princ~pal gnd interest existing on tfie last day of the precedi~g month. This nole shali be considered in defauft when any pdyme~t req~ired to ~e mada herei~under shall not hava baen made within thirty d~ys foflowing its - due date and shcll remai~y in default unti) said payment shall have been made. While in default, this note tholl bear intErest at the rate uf _S _ 3! 4_% pe~ annum in licu of the rate hereinbefore s~ecifie~. ' - ~ All make~s and endorse~s now ar he~echer becoming porties herointo jointiy end severally woive demond, notice - - of nan-payment and protest, ans! cgree that in the event of default in the poyment of any installment due her~under or in the_event of ony default ~n~ler the mortgage de~d se~uring this note the whole of said in~ebtedness togetfier with prepayment advance interes~ as provided herain shall Yfiereupan at_tfie option oi the holder, become immedictely due and poYAble, and if this note becnmes in default and is placed in the hands of an attorney for collection, ta pay reason- " eble attomey's fees end other costs for makir~y such collecPion. - _ _,l_~~ = J~hn.~a_~iuah~~~----_------ ` [SEAC) ~ ~s/_ Phyllis W.__ Hu~hes [SEAL) ~ -------------------------[SEA~) (SEAI~ ~ - _ _ " anc3 shall promptly perform, comply with~ and abide ~y each and ev~ry the stipulations, agreements, conditions, and , ; covenants of said promissory note and of this deed, then the estate heret~y created shall cease and be null and void. _ - AND the hiortga,gor does h~reby covtnant and agrtt: ~ 1. To pay sll and s~ngufar the pn.ndpal a~d interest and other sams of -meney payable by v~r~ue of sa~d prom~ssory notr and thts rnortgoge, or e~t~,zr, promplfy on the days respectively, the same se~erally come due. - 2. To pay all and s~ngular the taYes, assessments, levies, Gabil~trcs, obfigat~ars and incumbrances of every narure on said described property ea:h md - every when dve and payab!e ucord~ng to law, brfore they become delfnquent, and if r'~e same shatl net be promptty ptid tne Mortgagee may al any t~me either hefere or af}er dei~nqvency pay th~ same wi:houf waiving or a~fecting the option to fareclo:e, or any ri~ht hereunder, and every payment so mede shal! bear inte~est irom the date tlxreof at the samr rate as the mortgage nofe, payable s~rni-ann~wlly_ ~ ~ 3. In order to provide for the payment of ta:es, ssxssments, insurance premiwns, •nd othe~ annual charges vpon the property securing ~9his indebt- ednes~, 1 promise to poy monthly to the mwtgsger, in addit~on. to ~he above paym~nts, a ~vm estimated to be eqv~valer:t ro 1~12th of such items, wfilth _ ~ payment may be hefd by the mortgsgee tnd_coerm~ngkti with other funds or in ewn fvnds withous inferest for the payment oi s~ch items. If the smount e:nmared to be suffic~ent to psy said irems is nat svffic~ent, 1 prom~se to pay the d~fference upon demand. Tlu. prov~sions af thls paragraph are solely for the sdded proter.tion of the mortgagre and entail na ra~nsibility on the m.ortg~gce's part beyond the allowance of oue credit, w;thout interest, for wms actually recerved by it. Upor. the xc~rrance of ~ defa~lt under this mortg~ge, ttu mongagee may ~pply all or any part of the acu,mulared funds the~ held, - ~pon any obligaticn secvred hereby. _ ~ - - ' To ktrp the build~ngs and all equipmcnf snd pfr3a.~1 property now or nere~~fer on s~id p~amises, covared by tfiis mortgnge, insured in a surh ii - i lei:t equal to ~he vn?a~d bal~nce ef th~s mortgage, iodvdtng bo!h f~re a~d ex~ended coverage insuronce. pro.•~ded, however, that -such in;vrance be in a~+oun~ suf(~t~ent so comply wirh any co-insvrance requiremer.ts corer~ng same undtr the laws of t!~e S+are of florida, and prov7dtd further ths~ the poGq = or pofiues shall be wr~tte~ in ~ compa~y or torr•panies snd throv~fi •n agency ss!ls~actory to rhe !to.rga9e_ and that said pol:cy or polic~rs sh~tl be held ' by tht Mortgtgee and sha~l bear s standatd New York M;rtgigee Clavse witfiovt contrib~tion, ~+ating the loss vnder said poficies payab!e to the Mortg~gee a:ts interest may appear, and in the erent any sum of money becomts payabfe vr.de~ any svcfi potity or pol9ries, fhe Martgsgee shall have tht option to . R nceEve sr+d app~y fhe same on ~ccount of the indebredness hereby sccured, or ro permi? rhe Morrgagor to rrccrve and use it, or sny pirt Thereof, /or_ofhrr pvrposes, wirtov~ ~F.ereby wa:.rno or irnpa~r~ng ~ny equ~ty, Gen, or ri~ht under •nd by v~rtue of this mortQa~e; and in the eveot thc Monqigor does no: ~ tomply with this toven~nt tF.e Mortg~gee mar pl+;e in;; p~y for :ucfi ~n:v+ance o~ ~ny part thereof wi~hout waiving or •fftc!%np ths option to forecbu, ~ or ~ny right hRrevnder snd erch and every paymeM w msde shail 4t~r ~nterest. from the dst~ th~reof as the s~me ate as tM mort9tge note, paysble serr~~-. ~ annually. ' - ~ - - ~ S, To p~rm~r, commit or wffir no waste, imp~irn+ent or d~!rr.oraY,on of ~aid ptvp~rry, or ~r p~rr tnsrwf, ~ed upo~+ tM failun of tM rr+ortQsyor ro korp ~ th~ bvild'u~ on ia~i propKtr iA poo~ condi~bn oi npa~r, 1M MOfT~~~t TfY df~Mfld N1Y {TTl~.Nt! ffpiif Of iild bH1ldi•'19i. w sn ir?a~ias~ m ilu smount i erf ttarriry, a tM ~mmed~at+ rs~rrt+ent of tM d~bt h~eabr Na+rrd end the fsik,n af th~ Mat~spa w camply with uid dertund of tM Mbrs~Qet for ~ ~ bsriod ofi ~fiirry (;O) days, sh~11 con:fitvn s bn~d+ of thh m~pp~, snd, •r rM option of ~tw MorrQ~~e, immedi~tely matvr~ tM ~ntin ~mavnt of princi- pal end inhrest Mreby aecur~d, and immedia»ly and ~rithouf notiw, tM MortgaQ~ may insrinrs~ prxMd~n~s ro foreciae rhu morrp.9. ar?d ~plr for tM ~ appoiAtrt~se+t of ~ Reaiv~r, a Mr~inaft~r providsd. - _ b. To pKform, co.r.pty with and abid~ by s~d~ and w~y ~tFpvlatan~, pntr~+ts, aGr+dit.on and covensnh in siid promissory note a+d deed srt fortn. ~ ~ . 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