HomeMy WebLinkAbout2774 . ~ ~59427'
MORTOAO[ O[t0 RAMCO•~ l?pRM S
~ 8 ~ ~seoatrd t~ 21st ~ay o
f August
~ ~~~s ~
A. D 1967 ~ L~~LE E. YiONTS AND MILDRED E. YONTS. his wife
of St. Lucie County, Florida, part~.es of the part,
~1'~Af ~d ~ ~[prjQQQpp_yS ~n MIDWEST I~R'_rrA~F C(]MP1iNV~ ~[Kicsn»ri
corporation authorized to do business in the State of Florida
lrer'eiral`ter' a~Ued tka l[ort~a~~ -
iY1TN~SS~TB, TJlat for divers pood a~d valxable conrideratie~a, a~td aiao in cor+aideratiox
01 ~~~ate stan wa~d in tke pro»~iaaory note~ of eveK date l~erstoith, ltsr~ajter de. ,
seribed, tJta said ~[ort~a~or S O+~t, ~aain, ae~i, aiieie. re~e~se, reieaae, convey a~d oo~?
their Successors
w~to tlls aQid lllortyaysa_.., aa~d aaiipns i~t f
ee adaPl+, a~i tke certain tract
of 1a~td, of wllick tha ~id ~[ort~a~or s are ,.o~ ieised a„d posaeaasd, a~d iw aettial pos-
i~~ n~e ~ ~'Y, State of Fbrida, de~aoribed w fotlowa:
Lot 2, &tock 5, REVISED PLAT OF SOUTH ZSTH STREET
SUBDIVISION, according to the Plat thereof, reeorded
in Plat Book 11, Page 46, of the Public Reeo s of
St . Lucie County , Florida p~Y~s
~ccwto • ~Ntru+ersut rt~~u. n~oes~T~
ouE oM ct~?ss'~'
ryIpSNAMT TO CNAITER ~0'7t~. ACTS O~ ~M4
Rp(',,fR POiTRAS,~CArlc ~G~~ ~
as I~p~ ~
, ~ ton
.
• 1y ~!}IlTY CLLT~
~ In order to more fully protect the secuzity af this Mortgage, the
Mortgagor, together with, and in addition to the monthly payments
` due under the terms of the Note secured heYeby, on the lst day of
each and every month until said Note is fully paid, agree to pay
to and deposit with Mortqagee an amount equal to one-t~relfth (1/12th)
of the estimated annual real estate taxes, assessments, and fire,
extended coverage and other hazard insurance premiums, so that the
Mortgagee aill have on hand an amount sufficient to pay each such
item on the date on which payment of the same becomes due a~d pay-
able. The Mortgagee sha21 have the right to establish the amount
of such escrow and the amount of the monthly deposit required to
create the escrow account for nayment of safd items, although the
Mortgagee shall not be liable in any manner Eor correctness of the
amount established and collected. The Mortgagors ayree to deposit
with Mortgagee from time to time such additional sums in escro~r as
may be necessary to oay any deficiency ia the escrv~rr account
required to be collected in order to make the annual payments of the
foregoing items. In the event of default hereunder resulting in
acceleration by Mortgagee of the indebtedness secured by this
Mortgage, or in the event of foreclosure hereof, Mortgagee shall p~
have the zight, at its sole option, to apply the then balance ~
held i.n said escrow account to reduction of the indebtedness due ~
to Mortgagee vn the Note secured hereby, such escrvw deposit to
then be apnlied first to reduction of interest, costs~ attorneys'
fe~s, and principal, in said order.
B~K167 P~~E27?3
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