HomeMy WebLinkAbout1708 ~ 141
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ZO~S-1lth Avt. P.0. 8ou 1 Z09
MORTGAGE Vao BMCM, Fiorid~ 32l~0 ;
THIS MORTGAGE is made this 22 day of ~?ugust ~ 1g74y ~
Harace Clement and Mary Clement, his wife
betwccn the Mortgagor, - - ~
_ - - (hertin "Borrower").
and thc Mortgagee, Indian River Fedcral Savings and I.oan As.4ociation, a corporation organized
and existing under the la~vs of the United States of America, ~vhose addmss is Vero Beach, Florida '
; hei-ein "I.ender" ) .
~VxA~+s, Borrower is indebted to Lender in the principal sum of Bight Thousand aad no/100
. Dollars, which indebtedness is evidenced b~ Berrov~er's ~~ote nf e~en
date herewitli (lierein t`Notp"j, pro~i;iing far montl?li• installi~ient4 of prin~ipal and interesi, v?ith
ti~e balance of the indebted»ess, if not sooner ~xid, due nnd pavable on Septeaiber 1, 1989 ;
To Sxcvas to Lender (u) the repayment of the indebtedness evidenced b~ the \ot~•, itL iuter~st
thereou, the pa~znent of all other sums, with interest thereon, nd~ ancecl in flccordanre li~~rev? itL tu
protect the securitF of this `iortgage, and the perform~nce of the con~~cuiu~ts ~n~l :i~r~e~neut~ of
Barro~~er herein contained, ancl (b) tl~c reNayment. of :?n~ ftiture t~d~•ance~, v?ith intemst tLerc~,n,
niade to Borrower by Lender pursu~nt.-to pnragraph 21 hereof (Lciri~~ "Future Ad~•.~uce~"),
Borro~ver does hereb~ uiortaage, ~rant and conve} to I.ender tl?e follo~~•in~ de~c~ril~cl ~~ro~~ert~
locatecl in the County of St . Lucie , St:rte of I~'lorid~~ :
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~ Lots 6 and 7, Block Q, of Haxmony Heights Addition, ~
ss per plat thereof, recorded in Plat Book 8, page 38, {
of the public records of St. Lucie County, Florida. }
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~ ~ ~TAT~ ~F ~LORIDA ~
ox ~ OOCUMENTARY ~
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T«.F.'PFiF.f: itl~ all tl~e impros ement~ no~~ or l~ereafter erected oi~ the propert~, and all easements,
rigl~ts, appurte~iances, rents, royalties, mineral, oil and r.is ~•ights and profits, W ater, N ater riPl~ts,
tmd water stock, ~nd t~ll tixtures noH or hereAfter attached to the properh, all of which, including
replace~uent~ and additions thereto, sl~a]I be deemed to he and remain ~ part of tLe propertr coveretl
b~ this ~tortgage; ancl ali of the fore~oing, to~etl~er ~rith said propert~ (or the leasehold estate
in the e~ ent this ~tort~aae is on ~ leasehold) are herein refcrred to as the "Propert~
Borrower covenants that Rorrba~er is lan-fnllr seised of the estate hereb~ conve~ed and l~as the
rigl~t to mortgage, grant and ron~•e}• the Propert~•, ttsnt the Property is unencumbered, and that
Borro~er will warrant and defc-nd ~enerall~ the title to tl~e Propert~ against all claims and demands,
subject. to any easements and restrictions listed in a s~hedul~ of exceptions Lo co~era~e in anr title
insurance polic}- insuring I.ender's interest in the Propert~ .
IINIFORl?i COVEHANTS. BOTTOWCI• and I.ender co~}enant and agree as follows : ~
1. Papmeut of Principal ~d Interest. Borrowcr ~hall nromptly pay when due the principsl of and interes~
on the in~3ebtedness svidenced by the I~Tote, prepayment and late charg~ as providect in the Note, and the prinei-
psl of snd interest on any Pti:ture Advances secured by this ~iortgage.
2. Funda for Tmcea mnd Insur~ce.- Subject to I.ender ~ option under parsgraphs 4 and 5 hereof, Borrower
shall pay to Lender on the day monthly inst$llments of {~rinci~31 and interesi, ar~ payable under the Note, tmtii
the Note is ~aid in full, a sum (herein "Funds") equal to ane-t~velfth of ti~e yearly taxes and a~meats ~hich ~
may atts:n priority over this ?4iortgage, and ground rents on the Property, if any, plus one-twelfth c?f yesriy pre-
mium installments for hasard insurance, plus one-twelith of yearly premium installments tor mortgsge in~u~nce,
if any, all as reasonably estimated initially nnd from time fo time by I.ender on the basis of a~ssu~ents and bills
and reasonable estimates thereof. The Funds shall I~c held in an institution the depoeits or account~ of which are
~,ppTpA-~xt,rt~-tt/tt-t a s F,~b s~ t,.
jaf BOOK ~.J1 P~CE ~
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