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F_x~o~~l rl~p 31st dpy ol July A. D. ~q74 6y
JACR w. LASSITER and PATRICIA D. L~ISSITER, his wife
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~i tiereina~ter ralle~l the morlgagor, to •
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# WILLIAM 8. DERRICRSON, JR. and PATRICIA J. DERRICRSON, his wife
~ ~ I~ereinaJ~er called !he mort9a9ee: ~
~ ~ IN6ere~Yr u+rd Aerein tAe u~u "mortsaaui ~ aad ~~awriRasee" ioclude all t6e puties to tAis imwme~t and tLe ?cin, ~
1e~a1 rcprexauti~YS aod an~~m of i~dir~dwb. asd t~e wcceaa~r+ and +u+if~n o( corporation; aad t6e urm "wte" j ~
i iacludes all tbc eotes herci~ de+criEcd it owre t6ae oae.)
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; ~Lt~Q~~ that Jor good and valua6le c~nnsiderations, ond also i~ consideration o/ t1~e ngg?e ~
I gafe sum namec~ in lhe promissory note o~ even dale ~erewilh, hereinalter c~escriber~, the mortgagor here-
E by gmnts, bargains, sel~s, a~iens, remises, conueys ancj con~irms unto the mortgagee all lhe ce?tnin land ;
~f r t .~'f' a Te~~Z~ ~nr:nlp ti
Ii oJ which fhe mortgagor u nou~ seized ana in possession siiuui~ i.-. • r
f'~ori~u. viz:
Lot 17, Block 177, SOUTH PORT ST. LUCIE, LTI~T 11, according to the
' Plat thereof on file as recorded in Plat Book 15, Page 158, of the
~ Public Records of St. Lucie_County, Florida.
~ This is a second mortgage and is inferior to the first
I mortgage held by CITIZENS FEDERAL SAVINGS AND LOAN ASSOCIATION OF
~ ST. LUCIE COUNTY, FLORIDA, recorded in O. R. Book 213, page 173,
~ Public Records of St. Lucie County, Florida, which mortgage~the ~
mortqaqors herein assume and agree to pay.
~
r ' In the event that the mortgagors default in any payment or
s~j condition stipulated in any prior mortgage for a period of sixty
days, or in the event of any default in a prior mortgage so as to
" cause such prior mortgage to be accelerated and become due and pay-
able during the continuance of this mortgage, then the entire sums
~i ii secured by this mortgage shall become due and payable at the option
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! ~ of the mortgagee~.
~ I;
~ j~ The mortgagors covenant and agree to make all payments and
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perform all conditions and covenants called for in any prior mort-
gages now incumbering the property, and in the event of default in
: any such payment or payments, conditions or stipulations, the mort-
qagee, without waiving the option to foreclose herein reserves the
right to make such payments or perform such conditions or stipula-
tions, so as to maintain the prior mortgages and prevent a fore-
closure hereof. Any and all such sums paid or expenses incurred on
behalf of the mortgagor, together with interest prescribed in the
note underlying this mortgage, shall be added_to the mortgage in-
! debtedness and be secured by this mortgage.
' Privilege is reserved to prepay this note and mortgage in
whole or in part at anytime without notice and without penalty.
.
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