HomeMy WebLinkAbout2659 _ 3151.18 _~~ti~
i~~am~iw°~a
.~~-Sax~~r-- 1 Savinqs
MURTGAGE pierce, Florida 33450
THIS MORTGAGE is made this _..4th . day of __A~ st , 19_ZS..,
bctween the Mortgagor, ~~~~?atern D•triet o~ the Chriatian and Mi~tior,ary
Allisn~, a Flnr{~ja. Cnrnnratfen _ ~ _ (hettin "Bort~owCr"),
and thc Mortgagec, Indian Rivcr Federal Savings and Loan Association, a corporatio~ organiud
and cxisting under the laws of the United Statea of Am~rica, whose address is Vero Bcach, Florida
{ herein "I.ender"
Wateass, Borro~ver ie indebted to I.ender in the prinoipal anm of ~~~y_. ~hS?u~An~,_, fot~.r
hundtad_.and._u~1QQ--.-_
Dollare, whiah indebtednese is evidenced bp Borrower's noto of even
date herewith (herein "Note"),.providing for monthly installments of prinapal and intereat, witl~
the balsnoe o! the indebtedneea, if not sooner paid~ due and payable on _ Augus.~ __1,... 2Q4Q..._ ;
To 8acoaa to Lender (a) the repayment of tLe indebtedness evidenced by the Note, witL intere8t
thereon, the papment of all other sama, witL intereat thereon, advanced in ac~cordance I~erewitU to
proteat the seonrity of t~is. Mortgage, and the performance of the conveuants and agreen~ents of
Borrower Lerein contained, and (b) the repayment of any futnre advances, with interest thereon,
inade to Borrnwer by Lende~ purenant to paragraph 21 Lereof (herein "Futnre Ad~~ances"),
Borrower does hereby mortgag~e, grant and convey to Lender the following described property
located in the Connty of .-------_---------_.3t.---Lucie-_-------.--------- 8tate of Florida:
c~~l -503 - ~S~C~~~2
. Tne ~St ~ of Lot z~a sii of Lot _ 3, si~~x iz,
Maravilla Terrace,. according to the Plat thereof,
recorded in Plat Book 5, Paqe 50, of the Public
Records of St. Lucie County,_Florida. ,
This is a corrective mortqage expreasly for the
purpose of correcting the name of the mortgaqor
as shown in that mortgage dated July 15, 1975 and
recorded in Official Records Book 242, Paqe 779 of
_ the Public Recorde of St.• Lucie ~ County, Flori da.
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' Toa~r$sR with all the improvements no~~ or Lereafter erected on the property, and all easements,
~ rights, appnrtenances, rents, royalties, mineral, oil and gas rights and profits, water, water rights,
€ and water stock, and all fiatures now or hereafter attached to the propertq, all of which, inclnding
~ replacements and additions thereto, shall be deemed to be and remain a part of the property covered
~ by this Mortgage; and all of the foregoing, to~ether ~itli said property (or the leasehold estate
in the event this Mortgage is on a leasehold) are herein referred to as the "Property".
~ Borrower covenants that Borrower ia lawfnlly seised of the estate hereby conveyed and has tbe
i•ight to mortgage, grant and conve}• the Property, that the Property is unenenmbered, ancl that
~ Borrower will warrant and defencl ~enerally the title to the Property against all claims and demands,
~ subject to any easements and restrictions listed in a schedule of exceptions to co~•erage in anS title
~ insurance policy insnring Lender's intereat in the Property. ~
~ IIxuroBac Covsxwx•rs. Borrower and Lender covenant and agree as follows : .
~ l. PaYm~a! e~ Principal ~d bit~rest. Borrower shall promptly psy when due the principa) of and intereat
~ on the ind~ebtedneas evidenced.by the Note, prepayment and late charges as provided in the Note, and_ the princi-
~ pal of and intet+eat on any Future Advances secured bq this Mortgage.
2' Fumds ~or Tax~s aad Iasurmice. 8ubject to Lender's option under paragrsphs 4 and 5 hereof ~ Bon+ower
ahall paq to I.ender on the dey monthly installments of principal and intereet are payable under the Note, until
the Nofe is paid in full, a sum (her~in "Funda") equal to one-twelfth of the qearly taxes and aasessmente which _
~ msq sttain prioritq over thia Mortgage, and ground rentg on the Property, if any; plus one-twelfth of qesrly pre-
~ mium installments for hazard insurance, plus one-tweltth of yearly premium inatallments for mort~gage inanrsnce,
if any, all sa reasonsbly eatimated initislly and fmm time to time by I,ender on the basis oi 8aeessments and bills
~ and reasonable estimatea thereof. The Funds sf~al! be I~eld in an institution the deposita or accaunta of which sre
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