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THIS INSTRUAIENT PREDARED BY • ' ,
ci~,as P. P~ects 28514'7 ;
s«~.+rY F~.,~ s~~~~ a ~o,~+ M O R T G A G E '
of Ind~an R~vr~ County i
Sixth Averwe and T•renfy F~rst S~rcef '
Vero Beach, Flcrida 32D60 ~ 2 (
r , Loan No.--- ~5------ - !
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THE UNDERSIGNE~.-- . - -
PEARL CONSTRUCTION CO., INC. a_Florida co~ration
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of Po~t__St. Luc1 e~_ _;~unry of St _ Luc i e` , State of Florida, hereinahe~
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referred to as the Mortgagor, does hereby mortgage and warrant to SECURITY FEDERAL SAVINGS AND
LOAN ASSOCIATION OF INDIAN RIVER COUNTY, a corpo~ation organized and existing under the
laws of the United States of America, hereinafter ~e ferred to as the Mortgagee, the following real estate
~n the County of___ St. Lucle ~ in the State of Florida, to wit:
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Lot Fourteen (14), Block 389. PORT ST. LUCIE SECTION TWENTY FOUR,
according to the plat thereof as recorded in Plat Book 13, pages
31, 31A thru 31C, Public Records of St. Lucie County, Florida. ?
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~~P~,.: ~ ~ } . ~ i ~G~. ~rU IN PAYMENT OF Tl~ I
~ Gv~~1 "1~ ~~R r CUISS 'C INTAN6161E PERSOt~W. PRO?EpR ~
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~ ~OP u~i Y~'~1~ PURSUANT Tp ~i~PTER 71•134. ACTS UF :9/1.
E, i ~O~ER PDRRAS I7~~
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~ If a conveyance should be made by the mortgagors of the premises herein described, or any part
~ thereof, without th~ written consent of the Assotiation, and without assumption in regular form of
law hy the ~rantee of the obligations to the Association created by said promissory note and this morY-
gage, then, and in that event, and at the option of the Association, and without notice, all sums of
money secured hereby shall immediately and concurrent~y with such conveyance become due and pay- -
able and in default. ~The Association reserves the right to withhold consent to any such conveyance
and assumption until and unless satisfae~t~ry"~?rancial reports and other personal data required by the
Association are furnished to the As~ciation by t~ie party acquiring` title to the premises, or any part
thereof. By giving its consent to suc~i conveyance, the Association shall not be deemed to have released
~ the mortgagor hereunder from any Iiability hereunder_ The Association may deal with successors in in-
~ terest with reference to this mortage and the debt 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
~ ott~erwise act without discharging or in any way affecting the liability of the morigagors hereunder
~ or upon 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, extending the time for payment of the debt, providing for different monthly payments and/or a ~
~ different interest rate, and by other express modifications of the contract, without losing any priority a,o ~
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~ the Association has over other mortgagees or lienors or holders of any junior interest in the property ~°o~so
~ secured hereby. N
~ Together with all buildings, improvements, fixtures or appurtenances now or hereafter e~ected there- ~ ~
~ on or placed therein, including all apparatus, equipment, fixtures or articles, whether in single units or
~ centrally controlied, used to supply heat, gas, air conditioning, water, light, power, refrigeration, ventila- ~
~ tion or other services, and any other thing now or hereafter therein or thereon, inciuding screens, window
~ shades, storm doors and windows, floor coverings, screen doors, awnings, stoves and water heaters ~ ~
' (all of which are ~ntended to be and are hereby declared to be a part of said real estate whether physic- ~
~ al(y at~ached thereto or not); 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 The Mortgagee, whether
~ now due or hereafter to become ciue as provi~ed in the Supplemental Agreement secured hereby. The
Mortgagee is hereby subrogated to the rights of all mortgages, lienholders and owners paid off by pro-
ceeds of the foan hereby secured. -
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