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TMIS ~•.STR'_~;ENT PREPAREU BY ~
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;ecunty fed:ral Savings 6 L ~ssouahon '
or~„d„~R,.rc«,~rY ~ •MORTGAGE ;
S~.tn Avenuc and T~enty Fint Street
vcru 9each. Pbnda 32960
Loan No. _ _ ~8~ _
THE UNDE~SIGNED, _ - - - - - - - _ -
_ _ _ _ WAYNE CONSTRUCT I.ON COMPANYL_ a_Flor ida _Corporat ion _ _ _
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of Ft , P i erce__ Cou~ty of_ S_t . Luc i e__ , State of Florida, hereinafter
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referred to as the Mortgagor, dces hereby mortgage and warrant to SECURITY FEDERAL SAVINGS AND
LOAN ASSJCIATION OF INDIAN RIVER COUNTY, a corporation organized and existing under the
laws of the United ~tates of America, hereinafter re f?rred to as the Mortgagee, the following real estate
~n the Counh of St. Lucie in the State of Florida, towit: ~
Lot One (1), Block Forty-Eight (48), INDIAN RIVER ESTATES, i
Unit No. Seven (7), according to the plat thereof, as recorded
in Plat Book 10, page 75~ of the Public Records of St. Lucie
County, Florida.
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~ If a conveyance shoul~l be made by the m~rtgagors of the premises herein described, or any part
~ thereof, v?it!~ouf th~ written consent of the Association, and without assumption in regular form of ;
~ law t•y the grantee of the obligations to the Association created by said promissory note and this mort-
gage, then, and in that event, and at the option of the Association, and without notice, all sums of
, money secured hereby shall immediately and concurrently with such conveyance become due and pay-
~ able and in default. The Association reserves the right to withhold consent to any such conveyance
~ and assumption until and unless satisfactory financial reporis and other personal data required by the
Asscx~ation are furnished to the Association b the art ac uirin tiile to the remises or an art
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t thereof. By giving its consent to such conveyance, the Assoc~ation shall noT be deemed to have released
' the mert~agor hereunder from any liability hereunder. The Association may deal with successors in in- .
r~ ter~st with reference to this mortage and the debt hereby secured in the same manner as with the f
' mortgagors, and may forbear to sue or may extend time for payment of the debt, secured hereby, or
= otl~erw~se act w~thout discharging or in any way affecting the liability of the mortgagors hereunder
or upon the debt hereby secured. The Association may also deal with the Mortgagors and/or with
successors in interest with reference to ihis mortgage and the debt hereby secured by forbearing to
s~c, extendin ; the time for payment of the debt, providing for different monthly payments and/or a
difFerent inierest rate, and by other express modifications of the contract, without losing any priority
- the Association has over other mortgagees or lienors or holders of an~ junior interest in the property
= secured hereby.
Tcgether w~th all buildi~gs, improvements, fixtures or appurtenances now or hereaiter erected there-
- on or placed there~n, including all apparatus, equipment, fixtures or articles, whether in single units or
cent; ally conirolled, used to supply heat, gas, air conditioning, water, light, power, refrigeration, ventila- ;
tion or other ,ervices, and any other thing now or hereafter therein or thereon, including screens, window ~
shades, storm doors and windows, floor coverings, screen doors, awnings, stoves and water heaters ~
(all of which are ~ntended to be and are hereby dec lared to be a part of said real estate whether physic- ,
. ally attached thereta or not); and also together with all easements and the rents, issues and profits of ~
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said premises which are hereby pledged, assigned, transferred and set over unto ihe Mortgagee, whether
now due or hereai;er te become ciue as provided in the Supplemental Agreement secured hereby. The F
Mortgagee is hereby subrogated to the rights of all mort~ages, lienholders and owners paid off by pro- i
ceeds of the .ea~: hereby secured ~
_ ' E~~K 199 PAf ~ 2877
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