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USDA-Fmt1A , P. 0. Box 3 6~ S
Form FmHA 427-1 FL Posi~ion b y
Tn. ro.~+ ot enis ~~~t.~~.~.~~ waf drittid bY th~ Otfit~ or cn. ~"ie s t P a 1 m B e a c h, F 1 a.
(Rer. 6•24-76) (~M~~ CounMl 01 tM UnItW Statts O~partrtNM o1 A~ricultw~.
w•~nie~ton, o. c.. •na tn~ rna~«ta~ in tn• eank spacss tn t~»
/pm w~s {n~iW by p wMM tM dk~ctbn ol
Roberta Walters as agent for Florida ~
Land b Title 305-1st Street
(w+nq RECEIYEb 1N PAYM Of TAi(~ '
W e s t P a 1 m B e a c h. F 1 o r i d a~„ p(~ Ot~'CiASS 'C' ~NtAMG1BtE PER50?UL PROPERiY,
(Adar~ssl PURStA:H! 10 C~'• ,'.;l-1"t. A~iS OF 2'!/1.
T'~AL ESTATE MORTGAGE FOR FLORIDA
- CLFRK CIKCU11 wueti, ~I. lul:1E FLA
THIS MORTGAGE is made and entered into by ~ RAYMO]~jD .~AR~_,J_,g,~Y n unmarr ied _
man
rosiding in B r o w a r d County, Florida, whose post office address ;
~ 1501 N.W. 7th Ave. Fort Lauderdale ,Fiorida ~~~~I , '
herein called "Bonower," and: ~
WHEREAS Borrower u indebted to the United States of America, acting through the Farmers Home Administration, :
United States Department of Agriculture, herein called the "Government," as evidenced by one or more promissory note(s) :
or asaumption agreement(s), hercin called "note," which has been executed by Borrower, is payable to the ordtr of the
Governmeat, authorizes accekration of the ent've indebtedness at the option of the Government upon any default by
; Borrower, and is described as follows:. ~
~ Asmual Rate Due Date of Final
Qote of l?utrument Prrncipnl Amoynt o lnterest /nstullme»t
i
~ ~tay 13, 19~7 $65,000.00 S~ May 13, 1984
!
.
And the note evidences a loan to Borrower, and the Government, at any time, may assign the note and insure thc
payment thereof pursuant to the Consolidated Farm and Rural Development Act, or Tide V of thc Housing Act of 1949;
Md it is the purpose and intent of thu instrument that, among other things , at all times when the notc is held by the
Government, or in the event the Government should assign this instrument without insurance of the note, this instrument
shall secure payment oE the note; but when the note is held by an insured holder, this instrument shall not sccure payment of
the note or attach to the debt evidenced thereby, but as to the notc and such debt shall constitute an indemnity mortgage to
secure the C;overnment against loss under its insurance contract by reuon of any default by Borrower:
Md thu instrament also secures future advances made within twenty (20) yeus from date hereoE to anyone herein °
~ called Borrower when evidenced by a note or notes covering loans made or insured under Subtitle A of the Consolidated
F~rm and Rural Devclopment Act or Title V of the Housing Act of 1949, provided the total principal indebtcdness of the
~ cxip,inal and future loans shall not exceed f 6 S, 000 . 00 , subject to the same terms and condition rcgarding
~ the assignment of said notes hereinabove providcd and aU reEerences in this instrument to the "note" shall be deemed to
indude future notes. ~
~ NOW, THEREFORE. in considention of the lo~n(s) and (a) at all times when the note is held by the Government, or in
the event the Gorernment should assign this instrument without insurance of the payment of the note, to secure prort~pt
~ payment of the note and any renewals and extensions thereof and any agreements contained therein, including any provision
for the payment of an insurance or other chuge, (b) at all time: when the note is held by an insured holder, to secure
~ performance of Borrower's agreement htrein to indemnify and sare harmleu the Government again:t lou under its insurance
contract by reuon of any default by Borrower, and (c) in any event and at aU time: to secure the prompt payment of ali -
advxnces and expenditures madc by the Government, with interest, as hereinafter deuribcd, and the performance of every
covenant and agreement of Borrower contained herein or in any supplementary agreement, Borrower does hereby grant,
bargain, sell, convey, mortgage, assign and [orever warrant unto the Government the following propercy situated in the State
of Florida, County(ies) of S t. Lu c i e
d~01I ~r~/V P~iE 331 FmHA 427-1 FI. (Rev. 6-24-76) ,