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THIS i'\STR"~7ENT PREPAREU BY
_~lyde P__Platts
$rtu~~ty fedcral Sav:ngs a ~odn AsscKiJhcr M O R T G A G E ~
of Ind~art Rwr. County ~
S~.ctA Avenut and Twenty F~rst St~cet
Ver.~ 9each, ftonda 32960 ~Co9 t
Loan Na - -
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THE UNDERSIGNED, - - _ - ~
_ _ _ ~ORC~E A_, PALMER and JHERESA_L._PALMER,_hi_s.wife :
of Ft . . P 1 er~_ _ _ _ , _ , County of_`~t. LuC i ~ , State of Florida, hereinafter
referred to as the Mortgagor, does he~eby mortgage and ~varrant to SECURITY FEDERAL $AVINGS AND
LOAN ASS:?ClATION OF 1NDIAN RIVER COUNTY, a corporation organized and existing under the
Iaws of the Un~ted ~tates of America, hereinafter re f~rred to as the Mortgagee, the following real estate
~n tF,e Count~• of _St. _~u~ i~____ in the State of Florida, ro wrt:
Al1 prope~ties East of the Florida East Coast Railway of the following =
description: ~:s ~ l.~~
Camnencing on the shore line of the Indi-an~River at the intersection of
the South line of Government Lot 1, Section l, Township 36 South, Range
40 East, thence run West along said Lot 1_ihe to its West line, thence
North on the West line of said Lot 264.11 feet; thence East to the shore
of the Indian River; thence Southerty on said shore to Place of Beginning,
including all riparian rights;
Excepting therefrom, the right-of-way of the Florida East Coast Railway
and all rights-of-way for public roads. ?
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If a conveyance should be made by the m~rtgagors of tf~e premises herein dexribed, or any part ~
thereof, wit!~out thp written consent of the Association, and without assumption in regular form of
law E-y the grantee of the obiigations 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, atl 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 ~
ar~d assumption until and unless satisfactory financial reports and other personal data required by the ~
Association are furnished to the Associat6on by the party acquiring title to the premises, or any part
fiF~ereof. By g~v~ng its consent to such conveyance, the Asseciation shall no[ be deemed to have re~eased 3
the mertgagor hereunder from any liability hereunder. The Association may deal with successors in in-
ter~st with reference to this mortage and the debi hereby secured in the same manner as with the
mortgagors, and may forbear to sue or may extend time for payment of the debt, secured hereby, or
otF~erw;se act w;thout d;scharging or in any way affecting the liability of the mortgagors hereunder ~
cr u~on the debt hereby secured. The Association may also deal with the Mortgagors and/or with }
successors in interest with reference to this mortgage and the debt hereby secured by forbearing to ~
sue, extendinb the time for payment of the debt, providi~g for different monthly payments and/or a ~
difFerent interest rate, and by other express modifications of the contract, without tosing any priority ~
the Association has over other mortgagees or iienors or hotders of any junior interest in the property ;
secured hereby. ~
Together with all buildings, improvements, fixtures or appurtenances now or herea~ter erected there-
on or placed therein, including all apparatus, eq~~ipment, fixtures or articles, whet{ier in single units or
' centrally control(ed, used to suppiy heat, gas, a~r conditioning, water, I+ght, power, refrigeration, ventila-
tion or other services, and any other thing now or hereatter iherein or thereon, including screens, window
shades, storm doors and windows, floor coverings, stree~ doors, awnings, stoves and water heaters
(a!! of which are +ntended fo be and are here5y dec lared to be a part of said real estate whether physic-
aliy attached theretc or nat); and also together with all easements and the rents, issues and profits of
said premises which are hereby pledged, assigned, transferred and set over unto ihe Morigagee, whether
now due or hereaf;er to become ciue as provided in the Supplemental Agreement ser_ured hereby. The
Mortgagee is hereby subrogated to the rights of all mortgages, lienholders and owners paid off by pro-
ceeds of the lean hereby secured
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