HomeMy WebLinkAbout0577 ~G
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. Thia instrument waa preptred by:
SteRhen . C.... Fr~s i~r_, Attorney
SON~IER__ & _FRASIER, P.A.
P.O. Box 2210
MORT~AGE stuart, Florida 33494
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THIS \fOR~TGA(~F is mAde thi~ ~-3 ~ day of October , 19 73 ,
betv?een tl~e ~iortgagor, VERNON ~W, LYDSTOM and BETTY J. I.YpSTON,. hi.s wife
_ - - . . . (herein "Borrower")~
.ind the \iortgagee, . Southern Mortgage Aseociates, Inc. a corporat.ion
organized ~nd existin under the la~vs of ~`k~888 , whose adtlres~
~s 19~~ S.W._ 2$jth Avenue~ Mlami~ F1oMda 33145 (herein "Lender").
«'x~xe~s, Borrower is indebted to I.~nder in the princip~l su~n of TWENTY EIGHT TNOUSAND
EI1f E Hl1NDRED AND_.NO/100 Dollars, which indebtedness is ev;denceci b~• Borroa er's note of even
date herewith (herein "Note"), providin~ for monthlv installn~ent~ of principal ancl interest, witl~
the balance of the indebtedn~ss, if not. sooner paid, due and pavAble on NOVembel" 1, 2002 ;
To SEC~TeF to Lenc~er (x) the repayment of th~ inciebtedness eride~iced b}• tiie :~'ote, ith intereyt
thereon, the payment of all ~ther sums, v?ith interest thereon, ~d~~anceci in accordanrr hereWith to
protect the security of this :~tort~n~e, and the performxnc~ of the con~enants and arreen~ents of _
Borrower l~erein contained, ru?~l (h) thc rei?ayment ot ~u~~• futnre xd~~ances, W ith interest thereon,
~uade to Borrower b~ Lender pursuant to para;rapli 21 l~ereof (l~erein "Future Ach•tuice~"),
Borrower does liereb~• mort~xge, grant ~nd coi~~~e}• to i.ender tbe follo~~~in~ described pro~~ei•t~-
loc~teci in the Count~• of St. Lucie - , Stxte of Florida:
~ot 20, Block 387, of PORT ST. !UCIE SECTION 24, a Subdivision
according to the Plat thereof, recorded in Plat Book 13, Paye 31,
of the Public Records of St. Lucie County, Florida. ~
,
~s
~ STATE ~F ~t_ORIi : ! ~ ~ .
oZ DOCUMENTARY..~:-;~ 51A M P ` t. ~
Z~ DEP7. UF pEYENUE ~ •,:l+ r
~ pe. ;~~z~•T~(=.~~,a- 4 2. T 5!
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~~.S 7~'~ 1!1 PAIIMENt Of TAXES
OIE ON Cll?SS ~1(~'C ANG{SL.6 ~E''' 7~ lAl PROP~Y.
pt{~~t1~11t 70 CHA?°`•~' 7l-t'~, tiiS Jf~~i1i. ~
K.:i.~~ f~i'Aa; yu~icc~t•.
Cl,Lltl( CfRCiJlt Cv~+rt~. i(. ~:x:tti GO.. fU~
This is a purchase money first mortgage executed fo~ the express purpose
of securing a portion of the purchase price of the property encumbered herebyo -
NOTE: STATE DOCUMENTARY STAMPS AFFIXED AND CANCELLED
ON ORIGINAL MORTGAGE. ~
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~ T~w:eTxr:f: ~~•itl~ all the im~?rm-~ment~ ~io~~• ~i• he~•eafter crc~eted uu tl~e ~~rope~•t~-, ,~nd all easen~ents,
ri~hts, R~~)UYtCII~il1CPS, rents, ro~~~~ltie~, Illl]1Pl•~l, oil and r~~s right~ x~~d 1?rofit~, ~~'litCl', ~c•~iter ri~hts,
aiid ~cater stock, ,~nd all fi~tures noH• or i~ereafter attachcd to the propert~-, all of cvhicl~, includili~
replae~uumt~ an~l ,~ddition~ thereto, st~all h~~ deemed to he a~nd remain a part of tl~e propertc cot~ered
h~- thi~ ltort~~iae: anci all af ti~c~ forc~noin„ toTeth~r ~rith c~icl pi•opert~- (or the lea~e}iolc~ e~tate
4 in the ~~-c>nt thi~ ~tort,.a',it~'(~ i~ ~n le~sc~l~old ) arc~ her~in rrferred to a~ the "Properh•''.
~ Rorrower covenant~ that RorroK•er is la~cfull~- ~ei~ed of the est~te lterebr ~onvei~~d ancl has the
~ ri~ht to m~rtgagc~, ~r~nt and r~?n~•e.- tht~ Pr~p~rt~•, thr~t thc~ Propert}- is unencumberecl, ancl that
~ Borro~~er ~~ill ~~arrant and defenci;,Yenc~rall~• t~~~ tittc~ to tlie Propert~• against Hll ~lai~i~~ ancl demands,
,ul?jc•c~t t~? an~• ea~en~ents and re~~trietion~ li,tecl i~~ ~i .c~l~ed~ile ~?f exeeption~ to co~•er.~~c~ i~a ~3~~~• titl~
insurance ii~lic}- instirin~ Lender's irsterest i~i thc~ I'roperh-.
t'xiFOSU Cov~;xnxTS. Borrow~r and i.ender c~venant and agree as follows :
1. Payment of Principal and lnterest. Borrower ~liall ~iromptiy pay when di~e t.he principal of and interest
= on the indebtedness evidenced by the Note. prepavment and late charRe~ ac provide~l in the Note, and the princi-
~ pat of and interest on any Future Advances secured by thi~ ~iortgsge.
i 2 Funds for Taxes aad Insur~ce. Subject to Lender'~ option »nder paraqraphs 4 and 5 hereof, Borrower
shal! pay to I,ender on the day monthl~ installments of ~~rincipal and interest are j~ayable under the Note, until
" the Note is paid in full, a sum fherein "Funds"1 equal to one-t~velfth of the yearly taxes and assessments which
- may attain priority over this ~iortgage, and groun~l rents on tl~e ProPer~~ . if any, Plus one-twelfth of yearly pre-
mium inst$llments for hazard insurance, plus one-twelfth of ~•earl~~ rremium instaNments for mortgage insurance,
if any, all as reasonably estimateci initialty and from timc to time t~}• i,ender on tl~e basis of assessments and bills
~ and reasonable estimates thereof_ The Fnnd~ ~l~all 1>c I~el~! in an in~titution the deposits or accounts of which are
FLORIDA~-~~MC-12/7f-] to 4 Family Return to ;~p~~t~F~t~r/~jr~?~,~~/~~Sl9~' •
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