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'~nw`rV1~ This inetrum nt was prep~?red by:
C. Will~am Lewis
Indian River Federal
Savings a~d ~Loan Association ~
~ MORTGAGE p•o, sox ~a9e }
Ft. Pierce, Florida 33450 ~
THIS MORTGAGE is made this ~Sth.._- day of __Feb~__.____, 19Z.4_,
bct~~~ccn the 11Zortgagor, ___BoYie~ V. Mnui ~en ..anc1_,Ii~rl i th K_ Mnultpn• h3s
_----terife---- - - _ - ^ (herein "Borro~~~er"},
and the Mortgagce, Indian River Federal Savings and Loan Association, a corporation organized
and existing uncier the la~vs af the United States of America, ~vhose address is Vero Beach, Florida
( hcrein "I.ender" } .
1VIIF.REAB~ Borrower is indebted to Lender i» the principal sum of Twenty Thousand and
no/1~0------_--------.--Dollars, which indebtedness is e~~idc~nced b~• Borro~ver's not~ of even
~late here~ritli (herein "Note"), providinr for monthh• installments of principal tuid int~rest, ~ ith
tiie balance of the indebteduess, if not sooiier paid, due a~id payable on~ M,azch l. 2000 ,
To SECC*xF to Lender (a) the repay~rnent of the indebtedness e~~ideiired b}• tl~e \'ot~•, ~ritli i»t~r~~~t
thereon, the pavment of all other sums, wifh interest thereon, tuh•~ncecl in accordance 1?ere~~•itli to
protect the security of this iliort~age, and the performance Of tj1C' COIl~'C1111I1iS ~nci arreemeut~ ot'
Borrower herein contained, and (b) the repayment of au~~- futnre ad~•:?nce~, W ith intcre~t tlu~r~on,
niadc to Borrower b~ I.ender pui'SUtlllt to para~;rtiph 21 l~ereot (l~erei~i "Future :1~h•.~uce~"),
Rorro~rei• does hereb~ ~nortaage, gra~it and conve}• to Lender the follo~~•iug clescribed ~~ro~,ert~•
located in tl~e County of Sain~ I~ucie . _ _ , State of N`lorida :
Lot 7 of Blo~k 26, Indian River Estates Unit 5, a Subdivision
according to the Plat thereof, reco=ded in Plat Book 10, Page
58, of the Public Records of St. Lucie County, Florida.
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~~TA-~'E `aF STAMf`i I
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~ ~ IN PAYMENT Of 1~
~ RECEIrED 1q1At1G18LE PER9QWIL PROPERIY.
~j ~p (~f~IER 71-134. AC~S 0~ 1911. ~ fG' '
rypC,ER POtTRAS ~
` qERK CIRaII~ C~J~, ST. LIlC1E C0, ~ ~
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~ T~:F.THF.It ~Vlt~l all the impro~~einents no~~~ oi• hei•eaft~r erncted o~i the prope~•t~-, and all easements,
~ i•ights, appurtenances, rent~, rovaltic~~, miner.~l, oil ~nd ~~s ri~l~tc .iud profit~, «~ter, ~~•ater rirhts,
~ind ~ater stock, and all fi~tures no~~- or hereafter attache~i to thc~ ~~ropertt•, all of «hich, includin~
~ repl~cen~ents ~nd ~ddition~ thereto, sl~all b~~ deemecl to be and r~~m~in a part of tl~e propert~ covered
b~• this ~iort~a~e; :~nd all of the forr.~oin„ to~ether ~~~ith said propert}~ (c~r 1he leasehold estate
in the e~~ent this ~fortra~~ is on :i lelsel~old) .irc~ herein rc~ferred to as the "Propert}•".
Borrower eovenants that Borro~•er is 1a~~fnlh• seise~l ~f thc~ e~tate l~ereh}• c~onv~~~d ~nci ha~ the
- ri~l~t to mortgage. ~rant an~l c•~n~•~}- thc~ Properh•, that th~ ProPert.}• is unencumhered, anct that
Borro~~er will uarrant and defencl ~,ene~r~ll~• th~~ titlc~ to tl~e Propert~• a~ainst. ~~11 clai~ns and demands,
suhj~et. to anc easements ancl restrietion~ listed in a s~heclnle ~~f e~eeptions to eo~~era~e in am~ title
insurance policy insnring Lender's interest in th~ Propert~-.
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:3 L NIFOADt COVENANTS. Borro~ver and Lendei• covenant ancl agree as follows :
l. Payment of Principal ~d lnterest. Borrower ~ha11 promptly pay when due the principal of and interest
- on the indebtedness evidenced by the Note, prepayment and late charges as provide~i in the Note, and the princi-
- pal of and interest on any Future Advances secured by this \lortgage.
- 2. Funds for Taxes and Insurmice. Subject to i.ender'~ option nnder paragraphs 4 and 5 hereof, Borrower
shall pay to I.ender on the day monthly instaliments of ~>rinci~~al ami interest are nayable under the Note, until
j the Note is paid in full, a sum (herein "Funds"1 equal to one-twelfth of the yearly taxes and assessments which
- may attain priority over this ~4ortgage, and grotro~l rents on the Pmperty, if any, Pl~s one-twelfth of yearly pre-
- mium instaliments for hazard insurance, plus one-t~r•cltth of yearlv ~~remium installments for mottgage insurance,
~ if any, all as reasonably estimatecl initiallv and fron~ time to time hy I.ender on the basis of a~csessments and bills
and reasonable estimates thereof. Tfie Fimd~ ~hall I,c hel~l in an in~tih~tion the ~leposits or accounts of which are
FLORIDA-~xt.~tc-~sn~-1 ~o a Fanwr 0 R c(~
600K ~7 PAGE U~7lJ
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