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Home My WebLink About0584 i 1~258:~ THIS INDENTURE, Mad~ th~ 21St ~y of Apr.~l , A.D. 19 7O betwean tr'. G. Padrick, Jr. a~nd Elouise S. Pa~rick~ h.~ wifA of S L. L. L1C ~e ~p~~fy Flw~da, IfOfllMfiH dctigna~ed ~s the "MORTGAGOR; '•nd FIRST FEQfRAL SAVINGS AND LOAN ASSOCIATION Of fORi PIfRGE, ~ corpaation orya~ized and ~xiitinp undar ~M I~ws of th~ Unitad Stat~s oi Art+eric~ +nd Mviny its principal plsc~ of buuneas in ths Ctry of Fwt PiMC~, St. luci~ touory, Fbrid~, hereinafttr d~ignated ~s tM "N10RiGAGEE." WHEREAS IF?~ MORTGAGOR is juilly ir?debt~d ro 1M MORTGAGEE'i~ tM tum of = pood and law(ul money of the Un~ted Srates advanced by ths MORTGAGEE unro tl+~ MORTG.4GOR, as eridenced by + ceru~n promiuay note of even date herewith, of whkh the tollowinp in wads and (igvras is a trw copY, towit: ~ 50,000.00 ~ 16, 283 ~we Pse~•, f~a~da. Ap r i 1 21 ~ 9 ~O Fw value received, 1, we w either of vs, promias to pay, without def~lcation, to ~he order of ftRS7 FEDfRA! SAVlNGS AND LOAN ASSOCIATION OF FORT PIERCE at Fort Pierce, flwida, the ium of j~~ ~QO with interat irom date at the rate of8 • 5 °o prr annum, in monthly install- ments as follows: = 62~ on fhe Z~~L day of .~J~nP , 19~Q and a like sum on the caresponding day of each monlh there- after until the whole be fully paid. Each installme~t firat shall be applied in payment of the intorest ~nd ther? on tht unpaid bslence of the printipsl sum. If defautt is made in fhe payment of any installment wfien due, and s~tA default continues 3Q days, then at the oprion of the holder, and without any other notice, all the remaining ~nstaltments shall be due and payable at once. Privilege is given to prepay this note in whole or in part at s~y time without penalty. Neither forebearance, nor acceptance by the holder lhereof after any defautt in any payments hereon, shall tx: deemed extension. A lare payment chsrge of y+l! shall be added to each installment remaining ~npaid 7 days after ifs dw date, and a like sum shall be added to each such installment remaining unpaid 7 days sfter each strtceeding payment date. Each maker, surety and endwser hereof, jointly a~d severally, waives demand, pcsentmenT protest and r+otice of p~otest fw ~wnpayme~t, and further agrees to any extensa~ of time of paymem, either before or after maturity, without notice to any of us; and ro pay all costs of collection, includ;np s reasonable at?onrey's fee in the event of any default he~eunder, and Fxrtby severally waives all benefit of homestead and exemption under the tonstituta~ ~ and laws of each 5tate of the United States, as againat this obligation or any extension w renewsl hereof_ Witness the hand and sesl of each party. s /s/ ~ti'. G. Padrick~ Jr. rsEwU ~ ts~?u - , /s/ Elouise S. Padrick ~U t 7 S.~ ) Stst~ Revenw ~u -(~rampr ar~ceNed ae eeiyind-y+ete} NOW, THfREFORE, the MORTGAGOR fw the purpo~e ef securirg payment of ssid wm of s ~ and the pehormance of ths ' covena~q and sgreements hereinafter e:preued, and for divers yood and valwble cauideratio~s, by theae presenb, does graM, barysin, sell, remise, release, tonvey ~nd confirm unto the"71A0(tTGAGEE, its uxcessors ~nd aui9~:, aU that tertain bt, piete a pa?cel of lu~d, sitwte, lyin~, and beiny in ths County of St • L uc le snd Ssate of Flwida, dacrib~d u follows: ~ i.at 4 of the PZat of C. N'. RINEHAR? PROPERTY, as per plat thereof on file in Plat Eook c, Page 52, of the public records of 5t. Lucie County, Florida, except that part thereof uesczibed as folloxs: :?eyinniny on the north line of Lot 4 at point where i»tersected by a projection of the exterior line of the north wall of the G. PADRICK, Jr. Froperty ( for~aerly C. t,~. nINEHART PROPuRTY), which point measures approxi.mately 15.6 feet west of the west right cf way line of Indian River Drive; thence run 4~est., along said north line to northwest corner of Lat 4; then~e southeasterly a2ong the zear line of Lot 4 a distance of 82.81 feet to a point of intezsection with a projection of the said exterior line of said ~ norih wall; thence easterly along the said exterior hine (or its projection) of said nortb wall to pqint of beginning~ also right of w,~y foz Indizn River Drive. Rlso, that part of Lot 5 of said Plat of C. W. RINEHART SiBDIVISION described as follows; Beginning on the west line of Indian River Drive wheie intersected by the north - line of said Lot 5, ru~ thence west along said north line 474.6 fEet, more or Iess, to the northwest corner of said Lot 5; thence southeasterly along the rear line of said Lot S a distanc~ of 83.2I feet; thence northeaster2y 451.1 feet, more or less, to the point of beginning; the last described boundary being the exteriar lis~e of a certain wall located on the property hereinc:escribec and extending along the kesterly 205 feet of the easterly 234 feet of said last described boundary line, Togethez with riparian rights,~ togethc? with •II and singular ths tenernenq, heredit~menb and app~rt~~ces tFareunto belonpin9 or in anywise appeA~inieg therero, ~nd all renb, iss~p, proceeds and prof~n acv~ing and to aocrue from said p~emisos, sl! of which ue included in tF?e sbov~ and fweyoirg dtscription and h+bendwn. TO HAVE AND TO HOLD.the sbove described ~nd pnnted premises unto tAe s~id MORTGAGEE, its straeuors and auiyns fwevq. Md tFM s~id MORTGA~O R for their executors, administrators and assigro, hereby covenan» with the s+id AIIORTGAGEE, ib tuccesson and usipro, that tiley ~re - lawfull seized of the s~id y prNr+ises in fe~ simp~a; that tM s~m~ are fr~s, ckar ~nd discharped from all liens and ~ncum- branca in !aw w in equ~ty, snd that they will ~nd their hein sMll wa~rant and defend tM titk to the sarn~ to the uid MORTGAGEE, iri successors a~d sssipru, fwcver apainst the Iswfut clsims and demands of all pertorq; PROVIDEO, ALWAYS tMt if the MORTGAGOR shall p~y unro the MORIGAGFE !M p?omisswy rwt* hereinbefore described ~nd sMll truly, promptly and fully perform, d~scharge. execute, complete, comply with and abide by each and every the uipulafions, apreertronts, candi~ions ~nd cover?anri of a~id - promissory note and of this Mortgage, ther? this Mort~aye and the E~ute hereby aeued shall cs~s~ and be nvll and roid. IT IS UNDERSTOOD th~t the word °Mortp~yor' whether in the sinpular or plwal ~nywhera in this Mortgape, shall be sinyul~r if one only ~nd shalf be piural 'pintly ~nd wverdly if mon th~n one. s~d that the wwd °t F?eU" u used s~ywfien in this Mort~sQ~ shaH be t~ken to rr+~~n "ha; ••'l~en; , or "its;' wherever the context so implies a~dmits. Also, that wherever tF~ere es • refMenu tn rhe covena~n .nd .y.eem.nn here~n oonrai~+ed ro •m• of the puties hereto, the same ahall be construed to msan as wsll ss tF~e h~in, kgal rspresentat~ves, successors and assipns (~ith~r voluM~ry by ~cl of th~ parties or involuntary by operation of tht law) of the same and thst the corenanq htrein containtd shal! bind ~nd the benefits snd adv~nt~s inw~ ~o the respectiw I~ein, Ieyal representstives, suaessws snd au~yns of tlu puties hneto. And said Mortys~ors, for themselves ar~d their lxiri, lspsl rep?esentatives, successon ~nd auiyro, hereby jointly and sev~rally covenaM and apree to and wi~h the said N10RTGAGEE, its suuessors ~nd ~uigns: 1. To pay all and su~pul~r the principal and imerest and th~ v~i~an ~nd wndry wms of mw~ey paYabl~ by virtw of ~sid p?omiuwy rwt~, a~d this mortg~e, esch ~nd w~ry, promptly on the d~ys respectivfly tlw sMnt uwralfy bscome dw. 2. To pay alt and sirgvlar th~ faza. ~ssessment~, levies, liabilitia, oWipatiom ~nd ~ncwn6rurc~s of tvery natw~ and kind now on said desoib~d WopertY, or that he~~sfta may be impoad, sufferd, placed, tevied, a~ss~sied thneon, w thit hereafiar may b~ levied or assesed vpon this Mort~ < spt, a t}+e i~debt~dneis secvred Mreby, eacfi and wKy, whea dve ~nd pay~bt~. ~ctadinp ro I~w, befor~ thry becant delinqusnt, and befas arry im~reu ~ attaches a iny penalty is incvrred; ANO INSOFAR AS ANY 1HEREOf IS Of RKORD iHE SAME SHAII 6E PROMPTIY SATISf1ED AN~ OISCHARGED OF # RECORD AND THE ORIGlNAL OfFIC1Al DOCUMENT (StKH AS, FOR INSTANCE, THE TAX RECEIPT OR THE SATI$FACTION PAPER OFfIC1AllY EtVDORSED - OR CERTIFIED) SHALL BE PLACfD IN THE HANDS Of SAlD MORIGAGEE WITHIN TEN DAYS NEX? /1FTER PAYNIENT; ~nd in tM event that any thereof is not j paid, sat'ified snd d~scharged sa:d MORTGAGEE m~y ~t ~~y time pay ~M ume w any part thereof wilF+out wmir?p a affectinp ~ny option, lien, puity or = .iqht unde? or by virtue of this mortyage and the full smovnt of exh and wery wch payment ahal! bt immediately dve and piyabk ind shall bear interest ~ s.om the date tF?ereof unti) p+id at rate of ni~e per centum per annum and to~etf~er w~th such intrrest ahall be secured by the lien of th's morptsyt. - B~~V~ ~~x~~ - _ ~ ..r ~ ~t _ _ .