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L'~'r~~ F.~w.d el~. d.r ~ A. D. t 6y
~;o^~';s 2gth March B7
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ALBERT PHILLIPS and BRSNDA PHILLIPS, his wife -
a ~ P fiwr~nsle.r oa~ibd ei~. ~o?tgagor, to
'n°~~~~~~~~~~~°~ WAYN$ E. ALLSN and JO ANN ALL$N, his wife
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o/ wl~ tla n~o.egago. b.wu, aMud ond in pors~ sieusb in St. Lucie CO~~
Florido. v~s:
The Sast ~ of the West ~ of the S.W. ~ of the N.$. ~t
of Section g- Towriship 35 South, Range 39 $ast.
LESS THE FOLIAWING DESCRIBSD PARCSL:
From the Southwest corner of the East ~ of the West ~
of the Southwest ~C of the Northeast ~C of Section 9,
Township 35 South, Ranqe 39 8ast, run North alonq West
line of said East ~ of the West ~ of the Southwest ~t
of the Northeast ~t to the North riqht of way line of
canal No.-45 for a point of beqinninq, thence continue
North 600 feet, thence East 150 feet, thence Sonth 600
; " feet, thence West 150 feet to the point of beqinning.
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This is a purchase money Third Mortgaqe, and is inferior to the Firs
Mortgaqe held by Citizens Federal Savinqs & Loan Association, in the t
a oriqinal amount of $12,500.00, dated February 14, 1967, recorded in ~1~
O.R.Book 164, Page 1904, of St. Lucie County Public Records, and to ~
SecoPd Mortqaqe held by Citizens Federal Savinqs & Loan Association,
in the amount of $4,OOO.QO, dated March 14, 1967, recorded in O.R.
Book 165, Page 141-142, St. Lucie County Public Records, which the
Mortqagors herein assume and aqree to pay.
~ In the event that the Mortgaqors default in any payment or condi- ~
tion stipulated in any prior mortqaqe for a period of sixty days,
or in the event of any default in a prior mortqaqe so as to cause
such prior mortqage to be accelerated and become due and payable
during the continuance of this mortgaqe, then the entire sums secure
by this mortqage shall become due and payable at the option of the
Mortgagee.
The Mortgaqor covenants and agrees to make all payments and perfona
all conditions and covenants called for in any prior mortgages now
incumberinq the property, and in the event of default in any such
payment or payments, conditions or stipulations, the Mortgagee,
without waiving the option to foreclose, herein reserves the right
to make such payments, or perform such conditions or atipulations,
so as to maintain the prior mortgaqes and prevent a foreclosure ther -
of. Any and all such sums paid or expenses incurred on behalf-of ~
the Mortqaqor, together with interest thereon from the date of pay-
ment at the rate of interest prescribed in the note underlying this
mortqaqe, shall be added to the Mortqage, indebtedness and be secure
by this Mortqage.
Privilege is reserved to prepay this note and mortgage, in whole or
in part at any time without notice and without penalty.
~~L'OK ~U5 P,1CE~~~
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