HomeMy WebLinkAbout0153 ~ 3~~.320 . ;
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Thia instsument was prepared by: ~
~ Ian~i~~aa~l~ai
Q~~~an Savinqe ~
P.O. Box 1898 ~ ~
MORTGAGE Ft. pierce. Florida 33450 ~
THIS MORTGAGE is madc this lth _ day of _July , 19Z~, ~
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bet~veen the Mortgagor; _I?~nA ~ d E. Jacobsen and HIa~~,~ j` Jacobaon, hie wife ~
nnd John atisl Kathlgen B_ Rea,_ his wife _(herein "Borrower"), i
and thc Mortgagec, Indian River Federal Savings and Loan Association, a corporation organixed ~
and existing under the la~vs of the United States of Am~rica, whose addrtss is Vero Beach, Florida
~ herein "I.ender" ) .
`Vsxxs~s, Borrower is indebted to Lender in the principal sum of Twe~1~y . thou9at~d aad
nflf 1flQ----.---_---.------~ollars, which indebtedness is evidenced by Borrowei•'s note of even ~
date herewith (herein "Note"), providing for monthh instalhuents of principal r~nd internst, ~cith ;
the balance of the indebtedness, if not sooner paid, due iind payable on August_1, 1995 ;
To Sgcuxg to Lender (a) the i~epayment of the indebtedness e~~idenced b~ tl~e ~ote, ~~~ith i~iterest
thereon~ the payment of all other snms, with interest thereon, advA~iced in accordance l~crewitl~ to ~
protect the secnrity of this Mortgage, and the performance of the convennnts :uid a~reen~ents of
Borrower lierein contained, and (b) the repavment of an~ future ach ances, with 111fC1•est thereon,
uiade to Borrower by Lender pursuant to paragraph 21 liereof (Lerei~i "Futurc Ach•:~nces"),
Borrower does herebp mortgage, grant and convey to T.ender the follo~~ing ciescribed pro~~ertti
located in the County of St._ Lueie_-_ , State of Florida: .
ya - o,~ cc% .
! Lot 22, Block 48, RIVSR PF~RK UNIT FIVE,
~ . according to the Plat thereof as recorded
in Plat Book 11, page 31, of the Pnblic
Records of St. Lucie County, Florida.
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TocETxEe with all the improvement_s no«- or hereafter erected on the prope~•t~, ~nd all easements, ~
j rights, appurtenances, rents, royalties, mineral, oil and ~;as ri~hts and pcofits, ~~ater, ~ater rights,
~ and ~~ater stock, ~nd all fixtures no~~ or here~fter attached to the propert~•, all of ~~hicl~, including ~
j replacements and additions thereto, sl~all be deemecl ta be and remain a part of tl~e property covered ~
' b~ this Mortgage; and all of the foreroing, to~ethei• with said propert~ (or the leaseliold estate ;
in the event this :lfort~a;e i~ on n leasel~old) are herein i•eferred to as the "Propert~ ;
Borrower covenants that Borroaer is lasc•fulh- seised ~f the estate herebr conveved and has the '
right to mortgage, arant and e~n~~e}- the Propert~, ths~t the Propert~ is unencumbered, and that ;
Borrower will narrant and defend ~eneralh- the fitle to the Properh- ~gainst all claims ancl demands, F
subject to any ease~nents and resh•ictions listed in a~chedule of exceptions to co~era~~ in any titl~
insurance policy insuring Lender'~ interest. in the Propert~~. ' =
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IINIFORl1i COVENANTS. Borrower and I~nder covenant and agree as follows :
1. Papmeat of Pcincipai ~d Interes~ Bonower shali promptly pay when due the principal of and interest
on the indebtedness evid~nced by the Note, prepavment and late charges as provided in the Note, and the princi-
pal of and intet~est on any Ftiture Advances secured by this ~4ortgage.
2. Funda for Tences aad Iasur~ce. Subject to 1,ender's option ~mder paragraphs 4 and 5 hereof, Borrower
shall pay to Lender on the daq monthly installment~s of principal And interest are payable under the Note, until
the Note is paid in full, a sum (herein "Funds") equal to one-twelfth of the year)y taxes and assessments which
maq attain priority over this Mortgage, and ground rents on thc Property, if any, plus one-twelfth of yesrly pre-
mium instsilments for haaard insurance, plus one-twelfth of yeariv premium installments for mottgage insurence,
if any, sll as ressonably estimate~l initially and [rom time to time by T.ender on the basis of assessments and bills '
and reasonable estimates thereof. The Funds chall I~e held in an insti~ution the deposits or accounts of which are
FLORIDA-~c-~:rn-~ ro+ F.m+a BOUK ~42 PAG[ ~eSJ
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