HomeMy WebLinkAbout0111 rpRT~AOt ~[t0 11AMC0 FOI~M R[~
ION~ /0~1M
36"7997 ~
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~ Ex~u~ed th~ lst dny o/ June A. D. ~9 6y
a `
~ JOSEPH E. STALLS and MERRIJEAN STALLS, his wife
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r, tnaf ler cal~ the mortgagor, !o
H. H. WILLIS, JR. and JEANETTE A. WILLIS, his wife and
~ ROBERT L. LLOYD and GLADYS L. LLOYD, his wife
c,~ ~ •ereina(!e? cn~~ fhe morlgagee:
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y' (W6erever ~red Aereu t~e ter~ aad ••~ortta~ee•• i~chdr all ~!e Mrtia ~s t4~ irtnse~t ud t4.~wss
iwclYdes~aN~tle uiota ~~aa ~d~~~FMi~M~ud lis w~ocero~s ud ari~ of oorporttiw: ud tM ~e~ '~ole'
~ ~ ~ ,de~ui6c~d if ~we -owe. )
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~~{l~e~~ Itiaf for goa~ and ua~uub~e canstcjQ?nltons. and aVo in constderatjon o~ !he aB9ro-
gate sum namec~ in fhe promiuory note o~ euen date herowitl~. 1~erelnn~ter desc?t~. t1~e mortgagor ~n-
6y grnnts, bargotns, sells, aliena, remises, conueys and canJirma unto ths mortgagee all the cwtatn Iand
I o/ u?6ich the rnortgagor is now setzsd and in posseuIon ailuate in St. Lueie Ca~4.
~ Flo.ido, viz:
~ The East 1/2 of the SE 1/4 of the SW 1/4 of Section 2,
I Township 35 South, Range 39 East.
LESS AND EXCEPT rights of way for public roads and drainage canals.
THIS IS A PURCHASE MONEY MORTGAGE -
CARETAKING CLAUSE: For as long as any part of the indebtedness
secured by this mortgage shall remain unpaid, the Mortgagor •
shall maintain and care for the citrus trees and crops located
or grown on the mortgaged property in a good husbandlike manner
and in accordance with standard methods of citrus grove care-
taking generally recognized, accepted and in use for citrus
gro~es ~oeated in the vicinity of the mortgaged property. ~
f
.
. Notwithstandinq the foregoing, it is_
~ specifically understood that the temple block of citrus trees
c~ on the above described land which are approximately situated
on the south 300 feet thereof is specifically excluded from
this caretaking clause. (south 13 rows)
RECEIVERSHIP GLAUSE: If default is made in payment, when due,
o any indebte ess secured hereby, or in performance of any of
Mortgagor's obligations, covenants or agreements hereunder:
~ Mortgagee is authorized at any time, without notice, in its
sole discretion to enter upon and take possession of the prem-
~ ises or any part thereof, to perform any acts Mortgagee deems
•~s necessary or proper to conserve the security and to collect and
~ receive all rents, issues and profits thereof, including those
i~~ past due as well as those accruing thereafter, and Mortgagee
s1i~II ~e ~nti~Izc~, as a~atter of strict right and without re-
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L~;~i~o {T~; gard to the value or occupancy of the security, to have a
receiver appointed to enter upon and take possession of the
premises, collect the rents and profits therefrom and apply the
~ same as the court may direct, such receiver to have all the
= rights and powers permitted under the laws of Florida.
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SUBORDINA~ION CLAUSE: So long as Mortgagor is not in default
a= hereunder, Mortgagee agrees to subordinate the lien and operation -
-=~''"'`4 of this mortgage as to the south 250 feet of the above described
g ~ mortgage security to a mortgage`given
by Mortgagor to a federal
y savings and loan institution or national or state banking institutio
~=s= with a place of business in St. Lucie, Indian River or Martin
Counties, Florida, as security for a loan for the purpose of
~ constructing a home ther~on by Mortgagor; provided, however,
the amount of said mortgage loan shall not exceed the value
- of the improvements to be constructed, as determined by a good faith
appraisal of the improvements by the institution making the loan.
6t~uK ~~i7 PACE
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