HomeMy WebLinkAbout0995 ST-38,851 /
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USDA-FmHA ~
Form FmHA ~27-1 FL Pose[ion S ;
,
(Rev. 6•24-76) T~ ~orm o~ tn~i ~nstrument was o~+~tw py tn~ o~ric~ o~ tM i
G~nMal Cou~Nt of tM UnitW St~t~s Depsrtm~nt o1 A~ricullw~,
Wafhin9too, O. C.. anO tM mat~rbl in the elank spsc~s {n tM ;
fwm was i~s~rtW Oy w undM tM dNKtbo ot ' ~
Ti e o ion of Florida ~
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P~,~ee,_ Florida 33450
~nee.es:) ~
REAL ESTATE MORTGAGE FOR FLORIDA
THIS MORTGAGE is made and entcred into by _Wal larp 1. „$~~shing, and ~~tine R_ Rnahin~o,~ hin
wi f e
residing in St. Luc1e County, Florida, whose post offcc address
is 12QQ ~aT.~41'~~~....$S.L~.@.L~ Ft. Pierce , Florida ~3_45.~___,
hereen called "Borrower,° and: '
WHEREAS Borrourer is indebted to the United States of Amorica, acting through the Farmcrs Home Administration~
' United States Department of Agriculture, herein called the "Government," u evidenced by one or more promissory note(sj
~ or auumption agreement(s), herein called "note;' which has been executed by Borrower, is payable to the order oE the
! Government, authorizes acteleration of the entire indebtedneu at the option of the Government upon any default by
~ Borrower, and is dexribed as follows-
~ ~ Annua[ Rate Due Date of Final
~ Dnte of Inshument P?incipal Amount o Interest Installment
June 3, 1977 $10,000.00 SX June 3, 1984
~
And the note evidences a loan to Borrower, and the Government, at ~ny time, may assign the note and insure the
paymeot thercof pursuant to the Consolidated Farm and Rural Devtlopmcnt Act, or Title V of the Housing Act o~ 1949:
Md it is thc purpose and intent oE this instrument that, ~mong other things, at all times when the note is held b~ the
Government, or in the event the Government shouid assign this instrument without insurance of thc notc, this instrumcnt
shall secure payment of the note; but when the note is hdd by an insured holder, this instrument shall not secure payment of
~ the note or atuch to the debt evidenced thereby, but as to the note and such debt shall constitute an indemnity mortgage to
secure the Government against lou under its insurance contract by reason of any default by Borrower:
Md this instrument also xcures future advances made within twenty (20) yeus from date hereof to anyone herein
called Borrower when evidenced by a note or notes tovering loans made or insured under Subtitle A of the Consolidated
~ Fum and Rural Development Act or Title V of the Housing Act of f 949, provided the totai principat indebtedness of the .
~ orip,inal and Euture loans shall not exceed S 1Q.~S1L1Q. , subject to the same terms and condition regarding
~ the assignment of said notes herein~bove provided and all ref~rcnces in this instrument to the "note" shall be deemed to
~ includc future notes.
~
NOW, THEREFORE, in consideration of the loan(s) a~d ~a) at all times when the note is held by the Government, or in
~ the event the Government should assign this instrument without insurance of the payment of the note, to secure prompt
~ pvyment 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 charge, (b) at all times when the note is held by an insured holder, to secure -
~ ' perfo~mance of Borrower's agreement herein to indemnify and save harmless the Government against loss under its insurance
~ contract by reason of any default by Borrower, and (c) in any event and at all times to xcure the prompt payment of all
advances and expenditures made by the Gorernment, with interest, as hereinafter described, and the performance of every _
covenant and agreement of Borrower contained herein or in any supplementary agreement. Borrower does hereby grant, •
bargain, sell, convey, moctgage, auign and forerer warrant unto the Government the following property situated in thc Statc
o~ Florida, County(ies) of _ StL Luci~ : ~
BOC!(~9 ~CE 9~~ FmHA427-1 FL(Rev.6-24-76) _
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