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, ~ ~ This in t u gnt waa preppred by:
l:_.~ l • ` I - ; - ~ ~ C. W~~~iam Lewis
~ -
Indian River Federal
Savings and ~ I~oan Association
P.O. Box 1898
MORTGAGE Ft, pierce, Florida 33450
THIS MORTGAGE is made this Tth. day of -i~larr.h-----, 19--?5--, i
bet~~~een the Mortgag~r, __Stanlev K. Dougla~~s1_Fr~ri~.e8 A_ uarl~_1~i~.-___._
wif~_----- - ~ ~herein "Borrower"),
and the \Zortgagee, Indian River Fecleral Savings and Loan Assceiation, a corporation organized
and existing under the la~~~s of the ZJnited States of Am°rica, whose address is Vero Beach, Florida ;
~ herein "Lender" ) . ~
"~HF.REAS~ Borrower is indebted to Lender in the principal sam ofNineteen Thousa~ld ai?d ~
no/1Q0--------------- ~ollars, which indebtedness i~ evidenced U~• Borro~~•~r's not~~ of evcu ~
~iiite here~~~itli (herein "Note"), pro~•idinr foi• ~nonthh• instalhnent~ of principal .u~d int~r~si, ~citl~
the balance of the indebtedness, if not sooner pt~id, due and i~x}•able on Ma~ l, 2000 .
To S~ct-sE to Lender (tt) the repayment of the indebted~iess evidc~nc~c~d h~• th~~ ~'ot~•, ~~•itli iut~r~~~t
thereon, the patiment of all other sums, with interest thereon, t~clr.inced in accord.uic~~ here~citl~ tu
pi•otect tlic security of this ~Iortgu~e, and the performance of the con~•en:~nts ;i~id xr~•ce~n~~ut~ ot'
I3orro~er l~erein contained, and (b) the repa~ment of iui~• future~ auh~:ince~, Hith iutrre~t th~~r~ou,
~uade to Borro~ver b~- Lendei• pursuant to ~ararraph 31 liereof (l~~~rc~in "I~'uturE~ Ad~•:~uc~~~"),
Borro~cer does liereU~• ~iiortgage, grt~nt and coii~•e~ to Lender tl~e follo~ciu~ dc~scribecl ~,ru},e~~t~•
located in tLe Connty of _ Saint Lucie _ r , St:ite of I~`lori~iz~ :
Lots 1, 2, 3. 4, 24 and 25, ORANGE GROVE PARK, a Subdivision
according to the Plat thereof recorded in Plat Book 5, page 46,
of the Public Records of St. Lucie County,Florida, LESS AND
EXCEPTING therefrom an Easement and-right-of-way for a public
road more particularly described as the Westerly 15 feet of
Lots 1, 2, 3, and 4.
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; - ~ ~ IN PAtlMENT
; JL~`~L~t,. RfCEIYFD IN7ANGIBLf PER~ PRO~RIY,
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~ ~E?~PTER 71-13~. 1YCTS Of 1911.
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` T~,r.FT~iF~~ ~rith all the improrrment~ no~~• oi• l~ere~~fter c~rected on tiie prope~•t}-, and all easen~ents,
~ rights, appurtenances, rents, ro~•alties, mineral, oil and THS ri~hts auci ~~rofits, «•ater. ~c.~ter ri~hts.
a~icl ~~•ater stock, and ~ill fistures no«- or l~ereafter xttachcd to th~ ~~roperh•, all ~~f ~~•hich, includiii~
replacen~cnts aud addition4 there~to, sl~all ix~ dermed to he and rem~iin a part of th~ propert}- covered
~ b}- this ~tortrt~~e; and ~ll of the forE~,oin~, t~~;ether w•ith ,aid ~n•opert~- (or the lc~n,c•hold estate
~
~ in the event this .lfort~llaR lfi f?Il l~a;e}~old) are herein r~~C~rrc~d to as tl~e "Propert}-„
~ Rorrower covenants ti~at I3orr~~~•~r is la«•fi~ih- sei~e~i ~f th~ e~tate h~reh~~ con~•~~«~d and haG the
~:5 right t~? mort~n~e, nrAnt ancl c•~m•~~• the Yrop~rt~-, that thc~ Propert}- is wieneumhered, ancl that
~ Borrot~•er ~vill w~rranf an~] defenci Tenc~r~ll~• thc~ titl~ to tlie Propert~- a~ainst all clain~~ and demands,
subject to a~i~ c:asemetit5 an~l r~~tric~tions listed in a~eh~~diil~ of e~ce~~te~ns to co~~er.i~;e in an~• titlc~
insur~nce polic}• insuring Lcnder's interest in the Properh.
- U~iFO?:u CovFxnxls. Borro~~•er and i.cnder covenant an~l agree as follows :
1. Payment of Principal ~d Interest. Borrow•er ~haii ~rompth• pay when due the Principal of and interest
on the indebtedness evidenced hy the Note, prepayment and late eharge~ as provided in the Note. and the princi-
pal of and interest on any Future Adv~nces seciired b~ this \tortgage.
2. Funds for Tmces and Insur~ce. Subject to T.ender'~ oPtion nnder paragraphs 4 and 5 I~ereof, Borrower
~`j shall pay to I.ender on the day monthl~ instailment~ of 1?rinci~~al ar.c1 interest are payable under the Note, until
`=-3 the Note is paid in full, a sum (herein "Funds"1 equal to one-t~velfth of the yearly taxes an~ acsessments which
"a~'; may attain priority over this 1~iortgage, ~nd groun~i rents on the Property, if any, plus one-twelfth of yearly Pre-
mium installments for hazarcl insurance, plns one-tweHth o[ yParh prema~m installmenta for mortgage insurance, -
- if any, all as reasonabl~ estimateci initially an~i from timc to time by I.ender on the basi~ of assessments and bill~
_ and reasonable estimates thereof. The Fund~ ~hall he bel~1 in an in~titution the ~lepo~itc or accotmts of which are
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