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Home My WebLink About2566 1.3'~ 1 MORTGAGE Thac........F.l. RST'.._CHRI STI AN..CHURCH,,.OF.._FORT...P I ERCE, a., F l.or i da ~Cfji~ ~nbenture ~ihte~~etfj, ..cor~nrax.i.on...t~nt...f.ar...p_r.~~.i~t,...bX..~.~.~1...E,,,_.Lennard_,..Al_bert..E.....Luther...and. Harold MounceX,.._.i.ts ; . Tr.usLc,es, .........Count in the stute ot.....F.lor.I.da........................................................................................................ ot...........s ~ v, NORTCA~~ ~~ARRANT to BOAAb OF CHURCH EXTENSION OF" UISCIPLES OF CHRIST, a corporation organized under the laws oi the State of lndiana, of Marion County, in the State of Indiana, the following described RF,AL ESTATE sit- uattd in----•--....~t,....~.1.1G.1.~...........County, in the State of---.......~~O~i_dn .................................to-wit: . Lots 3 and 4, Block "M" of DITTMAR and McCARTY'S SUBDIVISION, accarding to piat filed in , Plat Sook 1, Page 3-A, Public Records of St. Lucie County, Florida and That c~rtain parcel described in Deed Bnok 65, Page 262, being alsn described as foilows: Commencing on theWest side of Magnolia Street (now U.S. Nighway No. 1) at a point 140 feet Nprth af the Northwest corner of Palmetto Ave. (now Avenue "A") and said Magnol ia 5t.; thence continue Narth on theWest side of U.S. Highway No. 1(farmerly Magnoiia St.) 60 feet to the . Sou~h line of Lot 3, Block "M" DITTMAR and McCARTY"5 SUBDIVISION in Plat ~ook 1, pege 3-A (sajd lot 3a1so referred to as the Baptist Parsanage Lot); thence W~st 165 feet atong the South line of said Lot 3 and adjoining l.at 4 of said Block "M" tu the East line of the R. S. Reynolds lot on Avenue "A" (formerly Palmetto Avenue)~ thence South 60 feet alang said East line of R. 5. Reynolds Lot; thenc$ East 165 feet more or icss to tt~e West Right-of-Way line ~ af U.S.Highway No. 1 and the Point of Beg+nning; said parcel being a part of Gavernment Lot 3 in Section 10, Tawnship 35 South, Range 40 East as shown on map of Fort Pierce, Florida, sur- veyed by A. Lee in 1887. to secure the payment, when the same shall become due, of....._.Sl.n.~...........promissury note executed by the Mortgagor and dated namely, Note......~.........for.,~.~.Q.FQ.OQ.OS~..bearin~ interest from said date at the rate of.._...5~1a....per annum and being payable in :n- ~ stallments as follows: $._..$!}~~.Q~ ..........................monthly from the first ~i the month following the initial advancement of loan funds through March___1..~_._1.966 . . $~.~.RQ~....-•-•• ....................monthly from.....~P.r.i. ~.a... ~SE?E?.---......................through......~.~~. r. $ ....•-•-•-~--•-•-----..............monthly from...............................--~•---......- -.................through......... -•-----.............................---•-••to the each of the sa:d monthly installments shall be applied fi st the interest due hereon and the balance, if any, principai, said note being due in full on or before......te11..~1.0~...yEBCS ..............................................••--...._...............after date. RECE~1fED ~ lfd ~AYME4TOFTAXES DUEOP! CU155'C' iNTAMGIbIF PER~^VAl ?ROPERTr, PURSUANT TO CHA~TER 20724. ACT~ oF 194f, ROG~R POITRA Clerk Circuit ~ urt as Agcnt for Ct1=.T15 M. ,IAM~S $f, L~cie CaoiM7 Tax Coliettor 8y ~ch.~-f~ DEPUTY CLERK Gommencing on the first day of the first month follow•ing the initiai advancement of loan funds the aforesaid payments shall be made ±o the financial institu*ion providing the interim financing and such payments shall continue until such date as the loan balanee i~ assurned by the Board of Ghurch Extension of Uisciples of Christ. From t6e date of the assumption of the loa.n balance by the Board af Ghurch F.xtension of Disciples of Christ, loan payments as aforesaid shall be made on tha tirst day of each month to said Board of Church Extension of 17isciples of Christ. The paqments aforesaid are payable to the order of the hiortgagee, Board nf Church Extension of Disciples of Christ, at its oR'ice, 11Q South Downey Avenue, Indianapolis 7, Indiana, ~r to such other payee and/or at such other place as the Mort- gagee ahslt designate. The amount of principal upon which interest is to be paid is to be adjusted each month; that is, the unpaid balance of principal at the beginning of each month shaii be the principal upon whjch interest shall be paid for the following month. ,Fa9lure t~ pay anp it~stallment of said note when due shall bring tF.e unpaid balance of said note due and coilectible at the op!ion of the Mortgagee. ~ This mortgage Ghall also co~,•er any additicnal ad~•ances made by the Mortgagee to the 3Sortgagor at the option of the Mort- gagee, but in no e~ent shall the a~nount advanced exceed the original amount of this mortgage. The titortgahror expressly agrees Lo pay the sums of money abo~~e secured, without relief from valuation or appraisement laws, and with xttorney's fees, and upon failure to pay any part of the mortgage debt, principa! or in~erest, then all of the mortgage debt is at the optir~n of the Mortgagee to become dae and collectible and this mort~age may be foreclosed accordingly. Ix is further agreed that on the fa~tu?•e of the Mortgagor to pay any or all of the mortgage debt as it becomes due, snd should suit be instituted to foreclose said morLgage, Lhen the Mortgagee w•?11 be entitled to the possession, rents and profits of said real estate from the time of such default. Said rents to be applied upon said mortgage debt, irss costs and expenses, if any. IC is further expressly agreed that, unt'sl all of saic~ mortgage debt shail be paid, ~aid liorega~or shall keen all iegal taxes, assessrnents and charges against said premises paid as the same become due, and shall keep the building thereon insured bp sucli insurance company or companies as ~ shall be appro~•ed by the ltortgagee, for the benefit of the :Kortgagee, as its interest may appe~r, to the'ar?iount of a...~.Q.,.~.Q~..QQ and failing to do so, said Mortgagee may pey said ta~es or insurance, and tt~e amount so paid, with five peresnt interest thereon, sha!1 be a part of the debt secured by this mortgage. The MortgaRor agree~ not to incur further indebtedness, direct or indirect, except upon the express written rnnsent of t.he Hortgagee and further agrees not to seil, transfer or encumber any realty now owned by the church including the above described property during the life of this instrument without written cunsent of ths Mortgagee. At legally called meetings, the terms of the loan evidenced by thi3 instrument were read to ar?d approved by the official Uoard of the chureh on 19..------, and the congregation on.-----.........---.--.--..----.........., 19......__, such approval being evidenced hy properly drawn resolutions recorded in the official minutes of the official board and congregation, respestively. This is to certify that the undersigned are the 3uly elected and qualifted ......tKUSLeeS...........,-.. of....._...F~.t;St...~.h.C.i.S.t.l.dll..... ' ....~hur..ch..nf...For..t..P...i.~.r.~s.....a...F1~ax..i.da...Gnr.t~Ar.~t.i.s~o...~ok...f.~,?r..Prof i t, : . ; _ . ~ , . ........................................................•--•...........-••...._....._.....••-...............and, as such, on the..............~............._....... ' . day o.. 19` at a properly called meeting of the congregation, anrl by a majority vote of those present were duly auth- or~zed ex ute this mortgage and the note of even da ~hi ures. ~d~ ~ rci i~-•s ; - ~ - _ . _ . . ~ ~ 1 ~