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[T1p:~-F F~ a The ..,rm o( this inst.umeM was d~afted by the Otfice o~ ine
Fam FIW 427-1 FL General Counsei ot the United States Oepartment of Ag?icutture,
Wasnington, C., and ihe material in the ~lank spaces in tne
(Rev. 1-1~-~~ 1 fo~m was inxrtetl by a untler the direction of
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301 South Si~'H°'Street
------------For-~--~~ear-ce- -•~~or•ida----- -,3345Q----------
c~aa~essl
REAL EtiTATE 11nRTrAGF. FOR I~I.ORIDa
(INSURED LOANS TO INDNmUAIS)
KN011 ALL MEN BY THESE PRESENT. Dated ..AuguBL___17._,__~Z~--------------------------------------•------------------------------------------
WNEREAS, the undersigned -----Dg~rid.Il._WiLlits_.8nd_Anii~a__I~._..W1Llit&~._.6~8._~i~,~~_._--------------_----_--------•-
residing in .------•--$X.___~:AC~e--------,---------------------------•--._...-.------.------------.----... County. Flaida, whose post office address
is --._Baut~---2..--&~x---~,1~7- - - Fort Pierce _ Flo~;da ---33450
- - . - ~
herein called "Borrower," are (is) justly indebted to the United States af America, acting through the Farmers Home Ad-
ministration, United 3tates Depertment of Agriculture, herein called the "Govemment," as evidenced by one or moce certain
promissay note(s) or assumption agreement(s), herein called "note" (if more than one note is described below, the word
I; "note" as used herein shall be construed as referring to each note singly or al! notes collectively, as the context may
~ require), said note being executed by Borrower, being payable to the order oE the Govemment in installments as specified
; therein, authorizing acceleration of the entire indebtedness at the option ot the Governrtient upon any default by 3orroWer.
~ and being further described as futtows:
~
~ ~1 nnual Rate U~1C Uotr o/ Finu!
~ /)alr• oj /n.c[rument Principal Amount oJ /nlerest Installmen!
; August 17, 1972 $9,860.00 SX August 17, 2012
~
~ and
WHEREAS, the note evidenCes a loan to Rorrower in the principe) amount speci[ied therein, made with the purpose and
~ intention that the Govemment, at any time, may assign the note and insure the payment thereof pursuant to the Consolidated
Farmers tiome Administration Act of 1961, or Title V of the {~ousing Act of 1449; and
WlIEREAS, when payment of the note is insured by the Government, it may be assigned from time to time and each holder
of the insured note, in turn, will be the insured ler~der: and
WHEREAS, when payment of the note is insured by the Government, !he Government uill execute and deliver to the insured
lender along with the note an insuranc-e endorsement insuring the payment o( all amounts peyable to the insured lender in
connection with the loan; and
WIIEREAS, when Payment of the nc~te is insured by the Government, t6e Government by agreement with the insured lender
set fwth in the inswance endo~sement may be entitted to a specified portion o( the paymenis on the note. to be designated
the "aonual charge"; and
H WHF,REAS, a condition of the insurance of Payment of the note will be that the holder wiU forego his rights and remed~es
` against Borrower and any others in connection w~th the ioc~n e~~idenced thereby. as weil as any benefit of this instrument~ and
~ will accept the henefits of such insurance in lieu thereof, and upon the Government's request will assign the note to the
~ Go~•err~ment: and
w'HE:RE:AS, it is the purpose and intent of this instrumert that, among other things, at all times when the note is held b~•
~
the Government, or in the ~~•.~ent the Government should -asS~gn this instrument without insurance o( the note, this instrument
~ shall secure pa~ment of the nute; but wfien the note is held by art insuted lender, this irtstrument shall not secure payment i~f
~ the note or attach to the debt evidenced thereby, but a~ to the note and such debt shall constitute an indemnity morigage to
secure the Gocr:n~nent aRa~rst tos~ under its ?nsuraoce endurs~ment by reason of an~• default by Rorrower~
~
~t014`, THEREFORE, in cons~aeratian of the loan(sl ar.d (al at au t?~^es ahen the note ~s hetd uy the Guvemment, or in the
'a event the (.:overnment shauid asstgn this instrument w~~thout insutance of the payr::ent of the note, to secure prompt paynent
~ ~f the n~te and any renewais and extens~nns therevf and any ag~eem.ents contained therein, including any provision forthe
~ Fayr.:ent uE an insurance or uther charge, (bl at ail times when the note is held by an insured lender, to sec~re performance
~ of Borrower's agreem~nt herein tn indemnifv and sa~•e harmless the Gocernment against loss under its insurance endo~se~ment
~ by reason of any default b} Borrower, and (c) in any event and at all times to secure the promp! payment of all advances
~ and expenditures made by the Government, w~ith interest, as hereinafter described, aod the perfotmance of every covenant
and agreement o( 6arower contained here~n ot in any supplemenlary agreement, Aorrower dces hereby grant. bargain. sell,
~ convey, mortRage, assign and forever wacrant unto the Gvvernment the folla~ving praperty situated ~n the State of Florida,
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