HomeMy WebLinkAbout1060 I1 YORTOAGE OEED RAMCO FORM REA
~ LONO ?OAM " 2~~9~0
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Fr~~~~~ ~hp 6th ,~ay o~ June A.. D. ~q 746y ~
John Jeffrey Cook .
` hereina(ter calletl the mortga~or. io 'K • ~arby Cook and Margaret W. COOIC ~ tI1S Wlf
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F~ereinajter callcKl i6e mort9aper: '
~Nlrrc~ct used 6ereia tM terun "mort6at~a~' aed "a~w~sasee•• iaclude aU t6e parties a t~i+ imw~eeet aed ~?e 6cin.
4 k~al reprexnuti.es and aaixm o( isdiv~duab. aod tse succes~~.rs aad asn[es d carporatio~s: aad tbe ttrm ••wu•~
include+ all tAe a.tea bereia de+cnbed il more tlaa oae.)
~ ~~tnQ~~~~ Ihat ~or good a~id nalua6le c~onstderatioris, and also in rnnside?atIon of the oggre-
gate sum named in Ihe promissory note o( even date he?ewilh, hereinajter described, tl~e mortgagor I~ere-
I by granls, bar{~ains, se~~s, a~iens, remises, conveys ancl conf irnu unlo the mortgagee all the certain jand
I o( u~hich fhe morlgagor is nou~ spizetr and in possession situale i~ St . LUC1C County.
~ Flurida, viz:
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Lot 28, ~31ock 23, PLAT OF PINEWOOD as
. per plat thereof, recorded in Plat Book.S,
page 24, of the Public Records of St. Lucie
County, Florida.
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~ Not withstanding any language to the contrary, the promissory
I note secured by this mortgage, byr mutual agreement of the
i Mortgagor and the Mortgagee, shall be adjusted from time to
~ time, as necessary, to remain 1~ ~g~~ than that charged by
; , First Federal Savings and Loan Association of Fort Pierce
~ on mortgages of like property. The monthly payments o~f said
; ~ ~ not~ will vary according to the change in the interest rate.
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` The Diortgagees agree that the mortgage payments will cease
` and the note and mortgage shall be considered paid in full
if the death of both M. Darby Cook and his wife, Margaret
~ Ni. Cook occurs anytime prior to the 20 year term of this
i~ mortgage. Further, a Satisfaction of I?tortgage in recordable
i1 form will be issued by the legal representative of the
i estate of the Mortgagee whose death occurs last. The
original mortgage and,note, which note sha11 be cancelled
; by said legal representative, shall be returned to the
~ Aiortgagor. The same prec~dure shall prevail if~the deaths
; of the Mortgagees occur simultaneously.
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~ i' T~IIS IS THS PURCHASE 1~1~Y I~JRTGAGg
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