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AND L4AN ASSQCIATION 4F BROWARD COUNTY
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~ p~ "'s_~..~~p~A~(?,~,~.1 " . 'Phis instrument wu propared b~r;
?:Z Q CttME~{ARY.~y-4. S a ~ ni~s i~suMEr+r w~s ra~r~o ~r
~ : ~ P . ~ . . : MORTGAGE ~
~ , ~ SEP-~170 . : ~ 'i. ~i ~ ~ p ~Oi E. OAKlAND PARK BEACH BLMD.
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THIS MORTGAGB is made this 27t1~ day of ~ug~uat . 1$~.~. between
~~y~g~gar. Backus Enterurisea, Inc. , a Florida cornoration
\t1C~U1 ~~aN[aVRCS~~~~ and the Martgsga~ ~~u~1LT'f1 Fetlaral ~e'~V~ MCfQ AYfft T~Lw ~beAAj ~ti
of 8roward Countv ~ ~
a corporation organized and existing under the laws oi ~e United States Of AmeriCs
whase addn~s is lf~ein •'Lende~
WHEREAS. 8o~m~rer is Indebted to I.ender in•the principsl sum of.~a~y
'~'~,ree Thousaad~o Hundred
Doilars. which indebtedness is evidenced by
Borro~ra s not o even date herewith (hec~ein "Note"~. pro~ridiag for monthly installments of principal and inte~+est, v? ith
the balance of the iMebt~dness. if not sooner paid. due and psysbk on J~~~ ~.~.a _~4~}
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TO SECURE to Lender (s) the repayment of the indebtedness evidenced by the Note with interest thereon; lb) the
payment of all other sums. rrith interat the~eon. advancod in accordance hercwith to protect the security of this
Moctgage; (c) the performance of the covenants and agreements of Borwwer hercin rnntained; (d) the performaoce of thc
covenants and agr~ements incorEwratod by refennce hereinto; and k) tt~e repayment of any future advxnces. with interest
thereon. made to Borrower by Lender pursuant to paragraph 2l hereof_~ incorporated lsy reference hereinto lhercin
"Future Advances"), Borrowet does hertby mortgagc. grant and cenvey to Lender the followiag describod property
locatod in the County of~qt„~ T.vr_i p . State of Florida:
~ ~ Lot.l in Block 14 of Paradise Park,~
accordinq to the plat thereof, recorded
~ia Plat Book 8, Page 17 of the Public
Recorda of 3t. Lucie County, Florida.
-~~rs . i~33- 70 v a~~-' oad y~
usE op~Y •
This mortgaqe is made in aceordance with Construction Loan Aqreement of even
date herewith,between the mertgaqee and the mortqaqor, which by reference is
made a part of this mortgaqe. ~ ~0
RECENED tN PA~MENi Qf TA1~E~,
Dl~ OfE . . . . ~ •ER5oN~11 ~'IbPERTY.
;~~rg~,- PIIR~'UIWI 10 C-• -'.'3. AC1S ~ 1l~1, ~r.
Y ~ . ~ +'OtiMi ~
7 CLE~K CI~lMf OOURf, Yf. IAICIE pp., ~
Notwithstanding anything in this mortgaqe 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 mortqaqe do not run for the fu12 term provided therein,
(whether because,of the exercise by mortqagee of a riqht, to accelerate,
or becauae of prepayments from mqrtqagor.or•from insurance proceeds, or
because of any other reason), the f.ull remaining balance due hereunder
payable at any time prior to maturity shall befcomputed and charqed so
as not to exceed the aforesaid~li'~titatioas. ~
~ 4 ~ ~r~ ~ ~ ~ 93~ . .
TOGETHER with all the improvements now or hereafter erected on the pmperty. ar~d a11 easements, rights.
appurteaances. rents. coyalties. mineral, oil and gas rights a~nd-profits. water. water rights. and water stock. and a(t
fixturet nav or henafter attached to the property. all of whtch, ~nciuiiin~ replacements and additions thereto. s~ali be
deamod to be and remain a part of the property cwrered by this Mortgagr; and all of the for~going. together with said -
property (a the leasehold estate in the event this Mortgage is on a leasehold) ace herein referred to as the "Property".
Borrower cavenaats that Borrower is lawfuQy seised of the estate hereby cunveyed and has ihe right to mortgage. grant
and coarey the Properh?. that the Property is uaencumbered, and that Borrawer wil! warrant and defend gtnerally the
title.to the Pmpcrty against all claims and demands, subject to any easements and restrictions liste~ in a scheduie of
ezceptions to oover~?ge in any titk insurance policy insuring Lender's interat in the Property.
F~ORIDA-FMLMC-Short Form-9l72-1 b 4 famity • ~
sou~Rrv sevnvGS exn . 800K ~~77 PACE 1~j :
~ Lo~ ~ssocUr~oN op saow~xn courrrsr
3455. REV.. 4/?5 ~ NORTH FEDERAL HIGNWAY
POI~PANO BEACH. FLORIDA ~9062
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