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1_r~•~,~~d ~hp 16th day o1 December A. D. ~q 77 by
DAVZD M. McDOWELL and MARGARET S. McDOWELL, his WiEe
i ~ereina~ier caljecl the morfga~o~, fo
WILLIAM L. BAILEY and LOIS S..BAILEY, his Wife ~
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i hpreina~ler callecl fhe mortga~e~:
a1~a au
' (Wherrer wed hereis tAe terw "mor~s and "OYNIRi[K~~ iactude all ~he p~rties to tAis imw~e~t a+~d tAe iein,
I lt~al reprexntau~es and asti~m d iadi~idwls aad the wccn,.~n aad a~ai~m o( tapor~lion: aad t?t ters ••~ott••
i ircludes a11 t6e nutn 6ereia drscribed it more tAaa oae. )
1 ~~tn~e~~ that /or good and valuable c~nnsicleralioi:s, and celso in considerotion o/ tl?e agg?~e-
ga~e sum named in Ihe pro?»isaory ~o1e o/ ei~en dole hernwill~. {~preinaJter descri6ed, the mortgagor kere-
i, by granfs, bo~ains, sp~~s, a~iens, remises, conveys un~ con~inns unlo t~e mortgagee a~~ fhe certntn ~n?td
jl o/ ~ Wh~~h 1hn morlgagor is now spized and in possession situate in St. Lucie ~ Co~b.
Florida. viz:
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~ Lot 33, RIVER OAK ESTATE~, as per plat thereof recorded
in Plat Book 16, Page 5, of the Public Records of St.
Lucie County, Florida.
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p1E Q( p/15S ~C' lYT~!M;tRLE PERSQNK ~r,
pu~wr io txu~~r~~ ~~.~3t. ~s aF !~n
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This is a second mortgage and is inferior to the first
mortqage held by First Federal Savings and Loan Association of
Fort Pierce, recorded in O.R. Book 240, Paqe 2397, Public Records
~ of St. Lucie County, Florida, which mortgaqe the mortqaqors herein
assume and agree to pay. .
In the event that the mortgagors default in any payment or
condition stipulated in any prior mortgage for a period of sixty
days, or in the event of any default in a prior mortgage so as to
cause such prior mortqaqe to be accelerated and become due and
payable during the continuar~ce of this mortqage, then the entire
sums secured by this mortqage shaZl becoaae due and payable at the
option of the mortqagee. _ ~
The mortgaqors covenant and agree to make all payments and
perform all conditions and covenants called for in any prior
mortgages now incumbering the property, and in the event of default
; in any such payment or payments, conditions or stipulations, the
mortgaqee, without waiving the option to foreclose herein reserves
; the right to make such payments or perform such conditions or
stipulations, so as to maintain the prior mortqages and prevent a
foreclosure hereof. Any and-a~3 such sums paid or expenses incurred
on behalf of the mortgagor, together with interest prescribed in
the note underlying this'mortgage, shall be added to the mortgage ;
;i indebtedness and be secured by this mortgaqe.
j~ Privilege is reserved to prepay this note and mortgage in
whole or in part at anytime without notice and without penalty.
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