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HomeMy WebLinkAbout0943 i ~ ~.i:~tsS13 ~ ~ . I FA-1 Fbtida Morttx~e Uanuuy, 197~) Und~v~lusl and Cotpontan) j TNE FEOERAL LAND BANK Of COLUM8IA I MORTGAGE LOAN NO. F 88-1-1202381-1 THIS 1NDF.NTURF., made tl:is 12th day of January , 1978 , by and betwcen .]ames G. Russakis and Sheila F. Russakis, his wife, both of St. Lucie ~ County, Florida . hereinaf ter ~ caUed first pazty, whether one or n~ore, and ThP Fed~~ral Land I3ank of Columbia, of Cotumbia, S. C., a corporation organized, charteced and cxisti~ig pur~~ant to the laws of the United States of America, ~ hereinafter called second party, W1TNF:SSI~:Tt1, that, N'III~:REAS, first ~~art~• is indebted to secund party in Ihe principat sum of ---------Fifty Six ~ Thousand and no/100------------------ Uollars 56,000.00 . as evidenced b~• a certain ~,j promissory note, of even datc hercwith, pa~•able to the order of second party in thirty (30) i ~ ; successive annual installments of principal, the first installment of principal bcin~ . ~ ~ 19 81, with j due and pa}'able un the first da~ of February ~ 'i interest from date of said note payable as and at the rate(s) provided in said note, all of which and such ; other terms, conditions, and agrecments a~ are contained in said note will more fiilly appear by reference thercto, which note is made a part of this mortgage to the same extent as if it were set out in extenso ~ herein. , ' This mortgage secures (1) the promissory note abo~~e recited; (2) all future advances as hereinafter provided for, that subsequently may be made to fust party (or to ~any one or more of the parties designated herein as fust party with the written consent of the remainder of said parties) by second party; (3) all other indebtedness of fust party, (or one or more of ' them), to second party now due or to become due under the terms of this instrument, the above cecited note, any future ~ advance note, or other evidence of indebtedness secured hereby and all renewals, reamortizations~ extensions, deferments ot , other rearrangements of any indebtedness secured hereby, together with interest thereon as provided for. I ! NOW, KNOW ALL I?fEN, that first party, in consideration of the debt as evidenced by above described note, and for f i better securing the payment thereof to second party, according to the terms of said note, and the performance of the ( ~ conditions and covenants herrin contained and to secure any other indebtedness of fust party to second party as I ~ contemplated under the terms hereof and also in consideration of the sum of One DoUar to fast party in hand paid by second ~ party, receipt whereoC is hereby acknowledged, has granted, bargained, sold and released, in fee simple, and by these presents dces grant, bargain, sell and release, in fee simple, unto second party, its successors and assigns. the following described lands, ~ including but not lirnited to, all trees, timber. shrubbery, fixtures and improvements now and hereafter thereon: ~ ~ The_SE~ of the SW=d, less the East S1' and less the South 25', of Section 24, ~ Township 35 South, Range 38 East. Said lands lying and being in St. Lucie County, ~ Florida and containing 38.58 acres, more or less. ~ ~ ~ ~ ~ A default in any of the terms and conditions of that certain promissory note dated ~ June 2, 1975 from first party herein to second party herein in the original principal ~ amount of ~109,000.00 or default in any of the terms and conditions of that certain ~ ~ mortgage dated June 2, 1975 and recorded in 0. R. Book 240, page 949, public records { ~ of St. Lucie County, Florida, and a default in any of the terms and conditions of ~ ~ that certain promissory note dated February 14, 1977 from first party herein to ~ ~ second party herein in the original principal amount of ~54,000.00 or default~in ~ ~ any of the terms and conditions of that certain mortgage dated February 14, 1977 ~ and recorded in 0. R. Book 264, page 148, public records of St. Lucie County, Florida, ~ securing said promissory notes and any other indebtedness due second party by first ~ party shall constitute an automatic default in this mortgage and note secured thereby. ~ A default in any of the terms and conditions of this mortgage and the note secured ~ thereby shall constitute an automatic default in said notes and mortgages dated June 2, 1975, and dated F~bruary 14, 1977, and more particularly identified in the first sentence cf this paragraph. In the event of default in any notes or mortgages, ~ 1 second party, may, at its option, declare all indebtedness evidenced by all promissory ~ notes immediately due and payable without notice and proceed immediately to foreclose 4;~ ~ all mortgages and pursue such other remedies as may be authorized by law. ~ ~1 _ ; ; ~ i , niis risreuN~r+r ~ er, `i:,~ ' I~Ilrl~~~ - . ~ c.o.~s~ ~~,a ean p ot ~ t ~~~IM~~' ~'_I I PI.SL OIIIC~. ONT ~.TV ~ ~ ~ ~ ~M~, ~L? i ~~~E~2tM~. FlOf16i 33~ . ~ ~ ~ . c_.i - j , ~ ~ - I 6G01( ~ ~ACC 9`tlJ - , _ _ - - _ _ ~ -