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264410
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This instrument was pnpared by:
Steghsn._C,....Fra~,ier.. Atty.
SOI~lER.. & _FRA&IER~ A•
P.O. Box 2210
MORTGAGE stuart, Florida 33494
THIS MORT(~A(~I`.+• ~s made this 1 _.day of _ Septemb~t. , 19_~ 3,
l~etween the Mortgagor, ___~~RAItQ. CQTE and._ CLAIRE C.. _COTE,, his ,wife ~
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- - - ~herein "Borrower").
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;~nd the Mortgagee, _ ~outhern__ Mortgage__ABBOCtatea ~ Inc. ~ , a corporation ~
organized and eaiatin under tbe laws of ~'k~Bas , whose addres~ '
ia . 1949_.g•W•---2~jth__Avenue~ Mlami~ Florida 33145 _ . - (herein "Lender") _
WHgx~s, Borrower is indebted to I.ender in the principal sum of Twenty SeYen. ThOUSdnd_ Ni_ne
Nundr.ed Fifty-.dnd_No/100 Dollars, which indebtedness is evidenced bv Borrower's note of even
date herewitL (herein "Note"), providinR for monthly installn~ents of prin~ipal_a~nrd ~nte~~~ witl~
vCt~on
the balance of the indebtedness, if not sooner paid, due and payable on - :
To SECUxA to Lender (a) the repayment of the indebtedness evidenced by the Notc, H itl~ interest
thereon, the pavment of all other snms, witl~ interest tl~ereon, advanced in accordance 1~ereK itli to
protect the security of this Mortgage, and the performance of the convenants and arreenrentG of
Borrower herein contained, and (b) tl~e repayn?ent of tin~ future ad~~ances, with interest thereon,
made to Borrower by Lender pursuant to paragraph 21 l~ereof (l~erein "Future Advauces"),
Borrower does hereb~- mortgage, grant and convey to i.ender the fo11oN•ing ciescribed properh•
located in the County of St. Lucie ~ , State of Florida: ~
Lot 1, Block 3, of the RE-PLAT OF SUNSET PARK SUBDIVISION, ;
as per plat thereof on file in Plat Book 11, at Page 28, ;
of the Public Records of St. Lucie County, Florida.
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_ S~ATE ~F ~LOR~{DA ~ §
' DOCUME-NTARY,~>~SIAMP TAX ~ '
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~ This is a purchase money first mortgage executed for the express purpose ;
; af securing a portion of the purchase price of the property encumbered herebye s
~ NOTE: STATE DOCUMENTARY STAMPS AFFIXED AND CANCELLED ~
ON ORIGINAL MORTGAGE. ?
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TocFTSES w itl~ all thc impro~•ements no~~• or l~ereafter erected on the prope~•t}-, and all easements,
~ ri l~ts a urtenances, rents, ro~alties, mineral, oil and nas ri~hts aud profits, ~vater, Hater rinhts,
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~ a~id water stock, and all fixtures no«~ or hereafter attached to the propert~-, all of whicli, includin~ 3
replacen~ents and ~dditions thereto, sl~all bc~ deemed to be ~nd remain a part of the property covered {
~ b~ this ~tort~a~e; and all of the foreaoind, toTether with sAid propert~ (or the leasehold estate
~ in the e~•ent this \tortrar~ is on .i leasehold) are herein referred to a~ the "Propert~
r Borrower covenants that Rorrower is la«•fnlh- seised of the estate hereb~- conveved and has the
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~ right to mortgag~, ~rant and com•e~• the Propert~•, thnt the Propert~- is unencumbered, and that =
Borrower will warrant ancl defend Tenerall~~ the title to tl~e Propert}• against all claims and demands, '
- ~ubject to any easeinents ~nd restrictions listed i~i a schedule of exceptions to covera~e in an~ title
insurance polic}- insuring Lender's interest in the Propert.y.
~ IINIFORM COVENANTS. Borrower and Lender covenant and agree as follows :
- 1. Papment of Pcincipal cmd Interes~ Borrower ~hall ~romPtly pay when due the principal of and interest
on the indebtedness evidenced by the Note, prepayment and late charges as providec! in the Note, and the princi-
~ pal of and interest on any Fnture Advances secured by this D'Iortgage.
= 2. Funds !or ?azes aad Insurm~ce. Subject to Lender's option under par~graphs 4 and 5 hereof, Borrower
shall a to Lender on the da monthl mstallments of ~rinci al and interest are ~ able under the Note until
~ P Y Y Y~ 1 P P Y ~
:a- the Note is paid in full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and as~essments which
~ may attain priority over this ~Iortgage, and ground rents on the Property, if any, plus one-twelfth of yearly pre-
- mium instaliments for haLard insurance, plus one-tweltth of yearly Premium instaNments for mortgage insurance,
~ if any, all as reasonably estimated initially and itom time to time by t.ender on the basis of assessments and bills
~ and reasonable estimates thereof. The Funds sball lie held in an institution the deposits or accounts oi which sre
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