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Home My WebLink About0554 ~ / . 30'~359 ~ ' : ~ THIS INdEN1URQ Mads tNe 1St d~y of May A.D. 19?5_, between J0.SEPH J. LACH and MARY ANN LACH, his wife, _ of St.. Li1G~@ ~ Covnty flwida, heratnaftx designated aa 1he "MORTGAGOR," and FIRST fEDERAI SAVIt~iGS AND IOAN ASSOCUiION OF fORT PIERGE, ~ torpot~tian orgsnited and exiitin~ under tM laws of tF+e United 3taiic Ameriu a~d Mavinp its principal pbcs of butinsts i~ tM City of fwt Piac~, St. luci~ Covnty, Flaids, hereinaher deaipnated at the "MOR1GACaEE." WHEREAS tM MORTGAGOR is justly ind~bted b the MORTGAGEE in the wm of s 465.~0~.0~ good and lawful money of the Un~ted Siates advanced by thc /AORTGAGEE unto the MORTGAGOR, as ev~denced by a crrtoin promissay note of even dale herewith, oi which the foilowin9 in v.ords ~nd figures is a true copy, towit: s 965.ooo.ao ~,ioo2isia Fort Vieres. Flaida. May 19 Fw valve received, 1, we w c~ther oF ~s, promise to pay, without defalcat:an, ?o the order of FIRST FEPERAI SAVINGS AND IOAN ASSOCIATION OF fORT PIERCE a1 Fort Pie~ce, florida, tha sum of i--g§5s~~~•~Q with imerest from date at the ~atr of .~;L-% pe~ annvm, in monthly install- ~,:a~~s as follows: S 4a036•00 on 1he 15~ d+y uf Sept~Y ~q75 - and a like sum on the corres~wr?dinp day of exfi month thlre- ~~f~. t~ whole be fully paidj ~til 9/15/75, interest only will be paid monthly Each installment first shall be app~ied io payment of the interest and tf,en on tha unpaed balance of the principsl sum. If dtfaulf•is made in the ;~~ment of any instal:ment when due, ar.d such defauM conti~ues 30 days, then at the opt:ln of the holder, and without any other ratice, all the rsmaining ~;,ratlments shall be due and ~ayabfe af once. Priv~!ege is g~ven to p~epay this note in whole or in part af any t~me without penalty. Neither forebearuue, ; o. acceplance by the holder thereof afte? any defautt in any payments hereon, shall be deemed extension. A late payment charge of : 50• shall be ; ~dJed io each ~natall~nent rema~n~ng unpa:d 7 day~ after its due date, and a h~e swn shati be adaed to ea<h such i~stallmeot remaining unpaid 7 days ahe< < _~ch succeeding paymeot dare. 1 Eath maker, surety and endorser hereof, jointty and sevetally, waives demand, prrun:ment protest and notite of protest tot nonpayrtxnt, snd further Sgrees to any extensan of hme of paymcnt, rirher before o: aiter maturity, withaut not~ce to any of us; and to pay all costs of collection, including s -•ssonablr atromey's fee ~n the evene o( any defauh hereunder, and hereby severaUy waives a?~ kxnrfit of homestead and exemptioa under the constitulion ~ ,d !aws of each State of ihe United States, as uga~nst this obligation w any eateoaion w renewal hereof. W~tness the hand and seal of eacA part~•. ' ~ 4 ~r ~ • • • . , ~ s/ Josenh J. Lach ~AU ~ ~ 1 ' ` '{N PAYMENT OF TAXES - (5~?U OIIE ON GJ1SS'C {NTNICIlIE rER90NA1. PROPERIY. ~ Marv Ann Lach ts~?q pYRS11ANi i+0 qWfER A•lyi. IIGTS Of 197L • ' (s~W ~ $697.50 ~ State Revenve s4ilbj~C~i~43f~eiiXo~GXolf~~ltii}4Yii) CLFN( qitdN~ ~a ~ ~ - . . . - ^ - • ~ • NOW, THEREFORE, the MORTGAGOR .fw the pu?pose of securing payment ot sa~d sum of S 46S ~ ~00. ~ end the performance of tM c,~:enants and agreements hereinafter expreued, and far divers good and valuebie can~~drrations, by theis presenK, doea g~ant, bar~air?, ull, remise, -~:ease, convey and conf~rm unto the MORTGAGEE, ifs successors and auigns, ail that ceriain lot, piece or pucel of land, situate, lyirg, snd beinp in 1M Coun:y of St. Lucie State oF Fbrida, desuibed ss follovw: From the Northwest Corner of the SW~S of the SW~C of Section 24, Township 35 South, Range 39 East, run South along the West line of said Section 24, a distance of 38.00 feet; thence run ~outh 89°23'30" East, a distance of 692.10 feet to the point of beginning of the followinq described land: - From said point of beginning, run South 89°23'30" East a distance of 150.48 feet; thence run South 00°00'30" West a distance of 439.79 feet to the North right-of-way of State Ftoad 70; thence run South 70°08'30" West along the North right-of-way of State Road 70 a distance of 160.00 feet; thence run Nort~i 00°00'30" East a distance of 495.74 feet to the point of beginning; all in St. Lucie County, Florida. a3 ~ y_ 3 3/ ~ 00 b/ ~/p Q/~ TaGETt~R WITH all machinery, equipment, furniture, furnishings, fixtures, supplies and signs now and hereafter acquired by Mortgagors for use in Mortgagors'~motel business to be conducted i on the hereinabove described property, including but not limited to all replacements thereof, i and all attachments, accessories and equipment hereafter installed therein or affixed thereto, ' includinq all items of the above described nature which are to be purchased with the ~ proceeds of the indebtedness secured hereby. ~ . ~ THIS IS A PURCHASE MONEY MORTGAGE to the extent of $200,000.00 and is a construction loan { as to the remaining $265,000.00. The proceeds of said construction loan will be advanced ~ to borrowers in accordance with a Construction Loan Agreement this day executed between ~ ~lortgagors and Mortgagee. •cgeti~er with aIl and singular the tenements, F~ereditarrKnts and appurtances thereunto belonging or in anywise appertainirg thereto, and sll ren», issues, :~oceeds and profits accruing and to accrue from ssid premises, all of which are intluded 'm the above and fwepany destription ~nd Mbendum. ~ TO HAVE AND TO HOLD the above described and gronted premises unto the said MORTGACaEE, its successors and aui~ns forerer. And fM said ` '.'.ORTGAGOR (or ~elr executors, admin~strators and auigns, hereby covenanb with the ssid MORTGAGEE, its waesw~s ~nd asti~s ~ „3t _ they~are _ iaWf~ny uiied of ti~e said prem~us in fee simple; thst the same are free, ckar and discharged from all liens ~nd ~ ~ ; c.-~nces in law or in eq~ity, and that ~ey will and their heirs shall warnnt snd defend tfie titk to tla sam~ to tFu said ORIGAGEE, its suctessors and assigns, forever againsf the lawful tlaims and demands of all persons; ~ PROVIUED, ALWAYS that if the MORiGAGOR snall p~y oMO the MORTGAGEE tke promissory note hereinbefore desctibed u~d s}NII truly, promptly = -d fu~:y perform, d~xharge. eaccute, comptete, comply with snd ab~de by each and every the stipulations, agreements, conditions ~nd tovenanri of said ~ _~o~n:sso+y note arx! of thes Mortgage, then this Mwtgage and the Estate hereby atated thall cease and be oull and void. ? IT IS UNDERSTOOD thst the wwd "Mortgsgor" whether in the singular or plural anywhere in this Mortyage, shal) b~ sinyulsr if one ooly and ~D~ ~ ~ 5tia!I be plural jointly and severally if more than one, and that the word "their" as used +nywhere in this Mwtys~e sMll be tsken to meae "hfs," "hen," 0~0 ~ ~ "i~s;' wherever the contex~ w implies or admits. Alw, that wherever there is a reference in the coven+nts ~nd agreernenfs hereio containecl to ~ny of x ~ ~ ~:^.e parties hereto, tne ~ame shall be co~strued ro mean as well ss the heirs, legal representatives, wcussws and auigns (either voluntary by al of ti» oarr+es o? involuntary by opcratwn of the law) of the same and that the covenanb herein coM~ined shall bind ~nd the beneiits and advanf~pp inw~ ~ ~o the respective heirs, leg+l representatives, successors and au'gns of the partie~ hereto. ~ ~ And said Mortqsgo:s. (or themselves and their F~eirs, lega! representatives, successon ~nd assigro, hcreby jointfy ~nd severally covenaM ~nd ~pne ~ fo and with the said MORTGAGEE, its successors ar~d sssigns: ~ , pr' p ry y p~yable by virtue of said ~ 1. To pay all and iingular the ~nci af and inrerest and the variovs and sund svrr~s of rt~ooe ptomiisory noh, and this ~ ~ ^-.ortgage, each snd every, promptly on the days respectively the ssme seve?slly become due. ~ 2. To pay aU ~nd singular the taxes, ~ssessmenn, levees, I~~bili~ie~, obligstions a~d ~ncvmbnnces of wery natvrs and kind now oa said desuib~d ~ ~ property, or thst hereafter may be impoted, wffered, placcd, levied, or auessed therson, a tha? hereafte~ may b~ tevied w usessed upon tfiis Matg- ~ ~ge, a the indebtedness secured hereby, esch and every, wMn due and paysble, accwdirg to law, befwe they becortn delinqueM, and b~fw~ ~ryr interqt ~+~aci~es w any penalty is incurred; AND INSOFAR AS ANY THEREOf IS Of RKORD iHE SAME SMALL SE PROlU1PiLY SATISFIEO AND DlSCFiARGED OF ~FCORO AND THE ORIGIASAL OffIC1Al DOCUMENT (SUCH AS. FOR ~NSTANCE, THE TAX RE~EIPT OR THE SAi15FACT10N PAPER OffICIALLY ENDORSEO ~~R CERTIfIEO) SHAII BE PLACE~ IN THE HANDS OF SAIO MORTGAGEE WITHIN TEN DAYS NEXT AFtER PAYMENS; and in tF+e eve~t that ~oy fheroof is rw1 ~ ;;a:d, saCsfied arr! dischsrged u'd MORTGAGfE may a• any time pay the •ame w any part thereof withovt waiving w af(ectirg sny option, lien, eqv~ty or ~ •~~ht under u by virtve of th~s mortgage and +he full amaunt of each and every such payment sAall be immediately due and paysbk and shsll bear inte~est ~ ~~o--• +he da~e rs.e~eof c~r~! pa d a~ r~te of nine per centum per annum end together w~~h s~ch interest shall be secured by the tien of th's m.org!age. ~ cr'.s ~ a.., . . . _ , . . "r r - ' _._a~