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~ MORTGAGE B°~`''~"~ ~
~1{r fb?ida 32960
~ THIS MORTGAGE is made this day of ~s.~--; 19-~-~ ~
bet~veeo the Mortgagor, ~reY ~Yer and Victor ~+vpr~~i,~ ~iPe ~
_ - (herein "Borrowcr"),
and thc Mortgagec, Indian River Federal Savings and Loan Association, a corporation organized
and existing under the laws of the United States of Am~rica, whose address is Vero Beach, Florida
~herein "I.ender" ) . '
Wa~xar?s, Borrnwer ia indebted to Lender in the principal sum of ~enty ~ive -thvusa~d--
__~ivE__hundr.e~_OII/lOQ. _ Dollars, which indebtedness is evidenced by Borrower's not~ of even
date herewitli (herein "Note"), providing for monthlv installments of principal and interest, witli
the balance of the indebtedness, if not sooner paid, due and payable on __$~pt.~~ker ~000 ;
To $scuxg to Lender (a) the i~epayment of the indebteciness evidenced b~• the Note, ~vitL interest
thereon, the payment of all other sums, with`intereat tLereon, advai~ced in accordance l~erewitl~ to
protect the seourity of thia Mortgage, ~nd tLe performance of the convenants nnd agreements of
Borrower herein contained, and (b) the repayment of nn~ future advances, with interest thereo», .
n~ade to Borrower by Lender pursuant to paragraph 21 hereof (herein "Future Ad~•nnces"),
Borrower dces herebti~ mortgage, grant and convey to Lender the follo~~ ing described propertv
loceted in tl~e County of __________..__..__.S~._--LuC1e--.Count3T- , State of Florida:
Lot 7, Block 57, LAKEWOOD PARK UNIT N0. 6, according -
to the Plat thereof recorded in Plat Book 11, Page 7,
public records of St. I,ucie County, Florida.
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TocETasx with all the improvements now or hereafter erected on the prope*ty, and all easements,
rights, appnrtenances, rents, royalties, mineral, oil and ~us rights and profits, n ater, ~ ater rights,
and water stock, and all fi~tures now or hereafter attached to the property, all of ~vhich, inclnding
replacements and additions thereto, shall be deemed to be And remain a part of the property covered
by thie Mortgage; and all of the foregoing, toRethei• with said propert~• (or the leasehold estate ~
in the event this Mortgage is on a leaseliold) are herein referred to as the "Propert~ i
Borrower covenants that Borrower is lawfully seised of the estate l~erebv conveyed and has the
right to mortgage, grant and conver the Property, that the Property is unencnmbered, and that
BorrQwer will warrant and defend ~eneraliv the title to tl~e Propert~ against all claims and demands,
subject. to any easements and restrictions listed in a schedule of exceptions to coverage in any title ,
~ insurance policy insuring Lender's interest in the Property.
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~ IINIFORl1f COVENANTB. Borrower and Lender covenant and agree as follows :
1. Paymeat o! Priacipal ~d Intorest. Borrower shall promptly pay when due the principal of and intereat
on the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the prinei- :
pal of and intereat on any I~ture Advances secured by this Mortgage. ,1
Z. Fuads ior ?axes cmd tasurQnee. Subjeet to Lender's option under paragraphs 4 and 5 hereof, Bormwer !
shall psy to Lender on the dey monthly installments of principai and interest are payable under the Note, until i
the Note is paid in full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes snd aase.ssments which ;
may attain prioritq over this Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly pre-
mium installments for hasard insurance, plus one-twelfth of yearlv premium installments for mortgage inaurance,
if anq, all as reasonably estimated initially and from time to time by I.ender on the basis of assessmenta and bills
and reasonable eatimates thereof. The Funds shall l~e l~eld in an institution the deposits or accounts of which are
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