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THIS INDENTURE, Mad~ th~ 20th day of ~ A.C. 19 76 MMr~
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_ R ichard T. Shean and Dorothy A. hean,~;~i wiffe~, t
~ S L. I..UC 1@ ' Counfy Florida, hN~inafl~r dtsiyna~ed ai tM "MORTGAGpR," •nd FIRSi FEDEKAI~SAVINGS AND IOAN
ASSOCIIITION OF FORT PIERGE. • cwporation upu?ised ~nd ~xistinp undK tl+~ lann of ~M Un~rad S~u~s of Mwrica •od ha„toa,ip priocipal plac. of ~
bv~tnw in th~ City of F~ Pwru, St. tuci~ County, Fbrid~, twNnaha dWip~at~d a~ 1M "MORiGAGEE." ~
WHEREAS tM MORTGAGOR b justly ind~bt~d to ths MORTGAGEE in th~ wm of = 2 5~ OOO ~00 ~~wful ewney oi tM Un7ted ,
Statq advanced by tM MORTGAGEE unto ~he MORTGAGOR, ~s evidsncad by • ce~uin promiuwy not~ OP even dats Aa~eriith, pf whlch tAs foltowinp in
words and (ipures is a Irw topY, to-wil: .
~2 5, 000 . 00 10021743
~o.~ Pk~c.. Fb.;d,. January 20 19 76
fa value received, 1, w~ w either of us, promiss to pay, wirhout defalca~ion, to the o~ds? of FIRST FEDERAI SAViNGS AND LGAN Ao5(1CIAT10N OF
FORT PIERCE at fort Pierce, Fbrida, the sum of : 2~ i 000• 00 w;th interest from dats +t the r~te of 8'~~ pet annum, in maUAly ilotalb
ments as followi: = 2U6.00 20th ~Y of MaYCh , 19 76 ~nd a lilu ium on the carespond:rg day of ead month ?fieK~- ~
after until the whole be fully paid.
Each insbllment first shatl bs applied in p~yment of "the Interest ~nd then on ths unpaid balance of fhe prinupal tum. If det~ulf is n~+d~ in tM
payment of any instaliment when dw, u~d such defavlt continue~ 30 days, then at the optio~ o( the holder, and withovt a~y othe~ no!ice, sll Ihar remalnw~y
~ns~allments shall be dve and payabk at once. Privi~ege is yiven fo prep~Y this note in whole w in put af any t~me w~thout penalry. ?Veither iaebsarance,
nor acceptanc~ by the holder thereof after sny defavh in any paym~nb hereon, thall be deemed ext~nsion. A late payment charge of =~..3Q thall b~ ~
added lo each installment rtmaini~ unpaid 7 day~ after i» dw d~ts, and a like sum sha~l be added ro each such i~sta{Iment ~emain'cny unpaid 7 d~ after
each wcceedinp payment date.
Each maker, surety and encJwser hereof, joinfly and severally, waives demand, presentmenl protes~ and ratice of protest for rwnpayment, and twtha i
egrees to any extension of Iime of paymem, eithe~ befo~e w after maturity, without notice to any of us; and to pay ~II costs of collection, ir~clud~rq a
reasonable attwney i fee in the event of sny default hereunder, and Ixreby severally waivcs all benefit of homestead and exempt~on under the conttitution
and lawt of each State of the United Stetes, as agairot Ihis oblipitan. o~ any extensioo w ren~wal hereof.
Witnets tM hand and seal of each party.
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~ ~37. 50 i Stat~ Revern?e . c:-.
]~llrf09CX ~:atlbt70iUO0~11~O6ffK . • .
' JW, THEREFORE, ihe MORTGAGOR fw the purpose of ~ecuring payment of said wm of ; 2 5 ~ • , ~nd ~}~e per/~m~r~ t~y
covena..y and spreemenb he~ein~fter e:pressed. ~nd for divera ~ood ~nd valwblt co~sider~tans, by these pnsenls, does qrant, b+ryain, ~ell, remisa,
release, convey ~od tonfirm u~to tM MORTGAGEE, its succeuas u~d ~ui9m, aU that certain lot, picce w parcel of land, situ~t~, lyinp, and beinp in tM
C,,,~~y pf - St . Luc ie .nd St•r• of flo.ida, dewib.d .s follows:
Condominium Parcel No. ~26 of CAPSTAN I, according to the Declaration of
Condominium thereof, recorded in Official Record Book 232, at pages 614-711
of the public records of St Lucie County, Rlorida.
SUBJECT to terms and conditions of said Declaration of Condominium, the
Articles of Incorpozation, By-Law, and Declaration of Covenar:ts and
Restrictions of Ocean Village Pzoperty Owners' Association, Inc., with
which terms and conditions the mortgagor covenants to comply and perform.
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By agreement of Mortgagor and Hortgagee on file with Mortgagee, the within
mortgage secures not only an existing indebtedness, but also ADVANCES to
be HEREAFTER made by Mortgagee to Mortgagor, the aggregate of which wi°11
equal the principal amount specified in the promissory note secured hereby.
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~ together with all and singuls~ the ten~mentt, hereditamenri snd ~ppurtanus the~eunto belw~ginq or in anywi~e appert~ininp thereb, and all ne~», iswp,
proceeds and profits accruing ~nd to sccrue from said premises, sll of which ~r~ included in the above and foregoirg description ~nd h~bandixn.
i TO HAVE ANO TO HOlO the ~bove de~cribed ~nd 9~anted premises uMO tFw said MORTGAGEE~ ib successon and sssignt fwever. Md th~ said
i MORTGAGOR fw t he ir _~;,s, executors, administr~to.s ~nd suiyns, he.eby covenann w~ih rhe •+d N~ORTGAGEE, in ~ua.~s«s .nd •asipm,
k fhat ~ h.gy are ~awfully ~eiud of the said premissi in fee simpte; tMt tM same ue free, de~r and dixhar~ed from ~II Ikeu and a+ain?
i brances in law w in eqvity, snd that t he v W~~~ ,,,d • t he i r Ixin sh~ll warrant and defend tht titl~ to tM ~ame to the sdd
' MORTGAGEE, its successors and auiy~s, for~ver ay+inst the lawful d~ims ~nd damands of all perwm;
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PROVIDED, ALWAYS tMt if the MORTGAGOR shatl pay unto the MORTGAGEE th~ promiuwy note hereinbefws described and thall truly, pramptly
end fully perfam, d~scha?ge, execute, compkte, comply with and ~bide by e~cl+ and every tM ~tipulatiau, apreements, cond'aiom ~nd coven~nb of said
prom~swry note and of this Mlongaye, then this MWt~sge and the Estate hereby ueated shall ceue a~d be null and void.
IT IS UNDERSTOOp that the wad "Mortyayor' wF~ether in the singulu or plwal anywhsn in this Mwt9pe, shall b~ sin~ula if on~ only and
•hall be plural jointly snd ~tverally if more than one, snd tMt the word "their" at used anywhtr~ in tha Mwtyape shall be taken to mean "his," "Mn,'•
w"its;' whe~ever the context w implies or admits. Also, that wherever there is a reference in fh~ covenann and ayreeme~b Mrein oontainsd to aMr of ~
the psrties hereto, the ~arne sh~ll be construed to me~n ss well as tM hein, 1e9s1 r~presenutives, wuessors ~nd assipns (either volunt~ry by act of th~
parties o? involuMSry by oper~tion of the law) of the same snd that the cova?anta hen~n com~ined •h.ll b i n d a n d ~ h e b e n e fin a n d . d vamp.s &wn ~'~s {
to the respectiw hein, ky~l represent~tives, successors and aa°yns of ths panies hereto. ~ (
And s+id Mortg~on, fw th~mselvn and tl?eir heirs, lepal repreumatives, succeswn ~nd suiyns, hereby jointly and a~verally caven~nt and ~p~ ~
to and with tM ~aid MORTGAGEE, its sucussai and auipns:
` 1. To psy all and sirgvlar the p~inc;p~l and imae~t and the v~rious snd sundry surm of moneY paYable by vinw of said pramissory noM, ~nd -
~ mwtpape, each and every, promptly on tf» days respectively th~ s~me uvsrally becorn~ dw. ~
~ 2 To psy ~II snd s~ngutu tM ts:es, auesunent~, kvies, liabilities, oblipatiaa and ~ncwnbr~nces of every n~tur~ u~d k'ud now on said `
~ P~~[~Y, or th~t hNeah~r may be impos~d, svffe~~d. P~+ced, tevied, w assessed tF?~rson, a th~t her~~fter may be kvied or u~est~d vpon tF~is ~
ag~. a the Ir~lebt~drnss secured herebp, each and ~very, wh~n due ~nd payable, aawdinp to Inw, beiw~ they becom~ delinque~t, and befon aryr k~
att~ches p any penalty is incwred; AND INSOfAR AS ANY THEREOi IS OF RECORD THE SAME SHAII BE PROIVRPTIY SATISFIED AND DISCHARGED
RECORO AND THE ORIGINAL OFFICIAL DOCUMENT (SUCH A5, FOR INSiANCE, THE TAX RKEIPT OR THE SATISFACTION PAPER OffICIAIIY ENDO !
OR CERTIFIE~) SHALL BE VUCEO IN THE HANDS OF SAID MORTGAGEE WITHIN TEN OAYS NEX1 AfTER PAYMENT; and in the tvent 1Mt any tF~~of i~ x
j paid, sat'sfied and dischsrged sa:d MORTGAGEE may at sny time pay the same w ~ny pan tF?ereof witho~t wsiving or affectirg any option, Ii~n, eqvity or i
•pht under or by virtue of this mortgage and tFx full amo~nt of esch and every tuch payment shall be irtuncdiately due and payabk and shall b~ar intN~st
~.om the d~te thereof untit pa~d st rate of nine per centum per annum ~nd toyether w~th such interest sMll be secured by the lien of th:s morytsp~.
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