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Executed. the ~ 3 "y day of September A. D. tq 69 by
WILLIAM ARTHUR GAINOUS and MYRTLE R. GAINOUS, his wife,
heretnaJter called the mortgagor, to
JOSEPH DiFRANCISCO and MAY DiFRANCISCO, his wife
hereinafter called the mortgagee:
(Wherever sited berets the tcret "~oruMaor"~aad ••~orgaaee•• i~chrde all tir P~r~ia to lWa iw~tr~sat aid t4 4in.
hOal tepeereaativea sad a~aa ~of ~' and t-e wcce~ors sad a~M o[ oorpentio~; sad the eery •wte••
iachada ap the wen berets de+e~ibrd it asore owe.)
~~t~~bl, shat for good and valuable considerations, and nlso in consideration of the aggro
gate sum named to the promissory note of even date herewith, hereinajter described. the mortgagor here-
by grants, bargains, sells, aliens, remises, conveys and con/Irms unto the mortgagee all the ce-tain land
of which the mortgagor is now seized and in possession situate in $t. Lucie County.
Florida, viz:
Begin at the intersection of the centerline of Orange Avenue
Extension and the East Section line of Section 9, Township 35
South, Range 39 East, and run thence South along said section
line a distance of 2190 ft. to a point; thence run west parallel
to the centerline of Orange Avenue Extension a distance .of 360
feet to a point of beginning; thence continue to run west a
distance of 296 feet to a point; thence run South Parallel to
said section line a distance of 100 feet to a point; thence turn
and run East parallel to centerline of Orange Avenue Extension
a distance of 296 feet to a point; thence turn and run North
parallel to $aid section line a distance of 100 feet to the point
of beginning. Said property being Lot 34, of an unrecorded plat
of West Fort Pierce Estates prepared January 24, 1966, by T.H.
Deskins, Land Surveyor. Together with an easement for road pur-
poses over the west 60 feet of the East 560 feet of the E~ of
SE's of SEction 9, Township 35 South, Range 39 East.
This is a Purchase Money Second Mortgage and is inferior to the first
mortgage held by Citizens Federal Savings and Loan Association of
St. Lucie County, in the original amount of $12,000.00, and recorded
in O.R. Book 177, Page 2813, of the Public Records of St. Lucie
County, Florida, which mortgage the mortgagors herein assume and agr~
to pay.
In the event that the mortgagor defaults in any payment or condi-
tion stipulated in any prior mortgage for a period of sixty days, or
in the event of any default in a prior mortgage so as to cause such
prior tortgage to be accelerated and become due and payable during
the continuance of this mortgage, then the entire sums secured by
this mortgage shall become due and payable at the option of the
mortgagee; .
The mortgagor covenants and agrees to make all payments and perform
all conditions and covenants called for in any prior mortgages now
incumbering 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 stipulations, so
as to maintain the prior mortgages and prevent a foreclosure there-
of. Any and all such sums paid or expenses incurred on behalf of
the mortgagor, together with interest prescribed in the note under-
lying this mortgage, shall be added to the mortgage indebtedness
and be secured by this mortgage.
Privilege is reserved to prepay this note and mortgage, in whole or
in part at anytime without notice and without penalty.
BOOK x.79 P~2~84