HomeMy WebLinkAbout1178 c' ~
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hie in t ~nt waa pre~ared by:
w~~'~'i Lew~
~ Indian R~er-Fe~eral Savings.
~.~~~BoxB~~~tion _ -
MORTGAGE Ft, pierce, Florida 33450
THIS MORTG4GF. is made this 16th _ _ day of _aS.~Atember , 19~~,
bch~~cen the Mortgagor, _~~ric~k ~T L~nQel ~nd Barbara A. nQe ~ h~ a wife
- - - - - - - - ~herein «Borrower").
and the Mortgagee, Indian River Federal Savings and Loan Association, a corporation organized
and existing under the la~.•s of the United States of Am~rica, ~vhose address is Vero Beach, Florida
~ herein "I.ender" ) .
W~x~+s, Borrovrer is indebted to Lender in the princip~l sum of ~?enty Thousand ~nd ;
_ no/~OQ--------.--- Dollars, whieL indebtedness is evidenced by Borrower's not~ of even '
date herewith (herein "Note"), praridin~ for inonth;}• instaliments of principal a~id interest, ~citl~
the balance of the indebtedi~ess, if not sooner paid, due and ~~ayable on ,December 1. 1995 ;
To S$cc~KE to Lender (a) the repayment of the inclebtedness evidenced b~ the Note, ~ritL inter~~t
thereon, the payment of all other sums, with interest tl?ereon, ach~nnced in ttccordance l~erewitl~ to
protect the security of this l~iortgage, and the performance of the conveunnts and ~~;reenients of
Borrower herein contained, ancl (b) the repavn~ent of an~• future advances, with interest t,hereon,
uiade to Borrower b~ Lender pursuant to paragrapl~ 21 l~ereof (l~erein "Future Ach•.~uces"),
\ Borrower does hereb~ mort~age, grant and conve~ t~o i.ender tl~c follo~~ ing described properh-
~ located in tl~e Count}~ of Saxnt Lucie _ _ , State of Florid~ :
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\ From the Northwest corner of the SW 1/4 of the SW 1/4 of the
~ SW 1/4 of Section Tawnship 35 South, Range 40 East, situated
' in St. Lucie County. Florida, run South 132 feet, then East 40 feet,
~ thence run South 317 feet for the point of beginning; thence run
South 158 feet; thence run East 380 feet; thence run North 158
t~ feet; thence run West 380 feet to the point of beginning.
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- Yt~.TE ~~GRiD~; ~ FLGRIDA.
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Ta;ETxer. ~vitl~ all the improvements no~r or here~fter erected on the prope*ty, and all easements,
rights, appurtenances, rents, ro~alties, mineral, oil and ,as ri~hts and ~~rofits, ~cxter, Kater rirhts,
:ind wAter stock, and all fi~tures no~~ or l~eret~fter ~ttached to the propertr, all of ~vhich, including
i•epit}c~en~enis anci ~cidifion~ tuereto, siiaii i~e ueeine~i i~~ „E~ ~~ud rt:?~~~~iu .t ~iHi~t uf tlie ~r~~p~rty ~~.°rretl ;
bv this ~tortga~e; and all of tl~e fore~;oinr, to~ether ~ti~ith 5aid propert~ (or the IPasehold estate ~
in the e~~ent tl~is .liort~aae is on ~ lea~ehold) are heirin rnf~rred to as the "Propert~•".
Borrower covenants th~t- Rorro~•er is In«•full~- seised ~f th~ e5tate hereb~• ~onveycci and has the
right to mortgag~, drant an~l e~nre~- fh~ Propert~, thnt the Propert~~ is unencumbered, and that
~ Borrower will warrant and defend ~en~rali~ the title to the Pr~perh• against all claims and demands,
subaect to any easements ancl re~trictions listed in a~cl~eclnle of e~ccPtions to co~~era~e in any title
~ iusurance policy insurin~ Lender's interest in th~ Propert.y.
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IINIFORM COVENANTS. Borro~ver and I.endee• coven~nt and agree as follows:
1. Paymeat of Principal ~d Interes~ Borrower ~I~all ~romptly pay when due the principal of and inter~at
on the indebtedness evidenced by the Note, prepayment and late charges as providecl in the Note, and the princi- ~
pal of and interest on any Future Advances secured by this \Sortgage.
2 Fuads for Taoces and Insuramce. Subject to I.ender'~ option imder paragraphs 4 and 5 hereof, Borrower
shall pay to Lender on the day monthly installments of i~rincip:~) und interest are payable under the Note, until
the Note is paid in tull, a sum (herein "Funds"1 ec~ual to vne-twelfth of thc yearly taxes and assessments which _
may attain priority over this Mortgage, and ground rents on the Property, if any, pius one-twelfth of yearly pre-
mium installments for haasrd insurance, plus one-twelfth of yearly Premium installments for mortgage insurance,
if any, all as reasonably estimated initially anci irom timc to time hy 1.ender on the basis of assessments and bills
snd reasonable estimates thereof. The Funds ~hall I~c hcl~1 in an institut~on the dep~its or accounts of which are
~.o~A_,~~~zn~-~ ,o. F~, ~ R 244 PACE1179
BOOK
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