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334`724
S~U"~~~~l~T ~lE~E~ZAL SAVINGS
AND LOA1V ASSOCIATION OF BROWARD COUNTY
~ This inslrumcnt was prc{~rcd by:
A.~. E,.~F ~ r'-~Q J~ I . THtS INSIRJMENT WAS PREPARfO BY •
;)OCUMENTAR_`.'.t°"~r .~;,SiA_M~' 1~~_> I DOROTNY A. SMITH, Attorney at law
_~Fi i: isf REVENU= j~~?y>}~ _ ~ MORTGAGE ~ E. R I.~t PkRK BEACN BLYO.
Y '~s ~ 3 0. O 0, (SHORT FORNi) S~tTE 305 - FT. IAUUERDAIE, FU. 333U6
,.A'f 1; 76 a ~
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THIS MORI'GAGE is made this 3rd day uf I"~v ' . 1~_, hetw~ecn (
the Mortgagor, hlilmer T. Culley and Ethel P. Culley, his wife
(hcrcin "E3oRO..~cr"), and the Mortgagce, Southern Federal Savinqs and Loan Associat~ on , '
,
of Broward County
a cor~wration organized and cxisting under the laNS ot Ulii.ted StBtes of America
whose addmss is 225 NO]rth Federal Highway, Pompaflo Beach, FlOrida ~hcrcin "Lrndcr"1.
WHEREAS, Borro~ver is indebtccf to l.ender in the principal sum of TWenty ThOUSand a11d 110/100---
~ Dullars. ~rhich indrbtrdnc~s i~ e~~idrncrd b~
0
~ Borcow•cr's nute ot~evcn date hcrcwith therein "Note"), pro~•iding for monthly installmcnts af prinripal and intcrc~t. ith
~ R ihc balancc o1 thc indcbtedness, if not su6ncr paid, duc and pa~able on September 15, 2000 '
s ; .
- TO SECURE to Lender (a) thc repa~ment of the indebirdness evidenced bv the Notc w•ith intrr~~t thrrcon: (b) thr
payment of all other sums. N•ith interrst thereon. ad~•anccd in accordance here~~•ith to pmtrct the xcurii~- of Nii.
Mortgage; (c) the pcrtorniance of the cu~~enants and agreements of Borro.rer herein cuutained; ld) the ~xrtiern~ancc ut thr
- • covenants and agrecmcnts incurporated by reFercnce hcreinto; and (e) the repa~•mem of an~~ futut~i:~tts«• imcrr~t
~ s thereon, made to Borrow~er b~ Lendcr pursuant to paragraph 21 hereof or inco"rporatcd b}- rctcrenrr hrrcinto Ih~rein
J
"Future Ad~•ances"). Borro~~er dues hereby martgage, g~ant and c~ncec tc? Lender the follow~ing c:eseribed pr~~~xr~~~
located in the County of St. Lucie . State of Florida:
.
a
~ s ~ Lnts 12 and 13 in Block 22 of Indian
= River Estates.Unit Six, according to
~ the plat thereof, recorded in Plat .
Book 10, at Paqe 57, of the Public
' ! Records of St. Lucie County, Florida.
~ ~ °~t~ ~ ~ C~ a - ~ c~ C; ~ 3 . ~~r~ a ~N
; This mortgage is made in accordance with Construction Loan Agreement of
~ even date herewith, between the mortgagee and the mortgagor, which by
; reference is made a part of this mortgage.
~ Notwithstanding anything in this mortgage or the note which it secures
~ to the contrary, total interest, as defined under Florida usury laws,
~ due on said obligation shall not exceed 10$ per annum if mortgagor be
~ an individual or 15$ per annum if mortgagor be a corporation, and if
said~note and mortgage do not run.for the full-term provided therein,
~ (whether because of the exercise by nartgageecf a right to accelerate, L~~
~ or because of prepayiaents from mortgagor o~ from insurance proceeds, or
~ because of any other reason), the full remaining balance due hereunder
~ payable at any time prior to maturity shall be computed and charged so
~ s~ not to exceed the aforesaid limitations.
~ ~
~ U c~
° ~~i~ IN PAYMEKT pf TAXES
~ OJE ON CU1SS 'C INTM161MF rEB90NA~ pt~p~ry~
PURSl1ANT TO CFiAPTER 72-134, ACTS ~
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TOGFTtICR w~ith all the improvemems now on c~reafter erectc~l on the propcrty, and all eascmcnts, riRhts.
~ appurtrnancrs, rcnts, r~~yaltits, minrral, oil and gas ri~;hts and protits.,w•a~cr, w•atcr riKhls, and ~c;~tcr st~xk. ~nd all ~
fixtur~s now ar hrnaticr attarhrci tu thc pn~~xrty, all ul~ w•hich, including r~pl~rcmcnts and additiuns thrrclo, shall hc ;
~ deemcd to be anA remain a~rt of' th~ ro rty cu~ered b this Mar1 ~a,~~• and all ol' thc fi~rc ~uin ~ to ~ether u•ith saict
P~ P P~ Y b b i
propcrtylor thr Irasrhuld c~tate in thr cvrnt this Murlgagc is un a lcaschold) arc hcrcin rrfccrccl lu as thc "I'r~~jxhy".
~ Bo~n~werru~rnants that Burr~~N•rr is lawfully uiscd of thr r+talr hrrchy com•ry~~c1 and has Ihe right to miirt~;a~c. gr:?nt
~ and canvc~ Ihr I'ru~xrly, th:?t lhr Pru~xrty is unrnruml?cnY1, and that B~?rrow•cr w•ill warrant and ~IrlcnJ ~;rnr~ally tf~~
~ ti~lr t~~ ihr 1'ru~xrty a}~ainst all rlaims and dcmands, suhjcrl tc? any rasrmcnts and reNrirti~~ns li.t~~cf i~ a srhrcluir ut~
~ exceptiuns t~~ cu~rra~c in any litlr insuranre ~~uliry insuring Lrndcr's interrst in thc 1'ru~krty. '
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~ FLORIDA-fNLMC-SROr1 Form•9t7?-1 lo , Famllr
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