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riORTGAGE DEED
THIS MORTGAGE made this ~~day of ~ 1978
between J. E. LINDSEY and CLA~ G. LIN s e fiereinafter
referred to as "Mortgagor" and GERALD M. SMITH and LIPIDA SMITH~
his wife hereinafter refcrred to as "Mort~sgee".
(Wherever used herein the terms "Mortgagor" and "Mort~agee"
include all the parties to this instrument and theirs heirs.
legal representatives and assigns; and the term "Note" includes
all the notes herein described if more than one).
The Mortgagor hereby mortgages to the Mortgagee its
successors and assigns land situated in the County of St.
Lucie, State of Florida to~ether with all the imc~rovements
situated thereon and the tenements~ hereditaments and appurtences
incident thereto all hereinafter collectively called the
"Mortgaged Premises", and legally described as:
The East 150 feet of the West 315 feet of Lot
13, in the SE 1/4 lyin~ North of Okeechobee
Road, MODEL LAND ~OMPAPIY SUBDIVISION.in Section
23, Township>35 South~ Range 39 East~ as per
nlat thereof recorded in Plat Book 2, page_10,
of the Public Records of.St.Lucie County,Florida.
This Mortgage is given to secure a certain promissory note,
hereinafter called the Note~ of even date herewith from the
Mortgagor to the Mort~a~ee in the principal amount of Nineteen
Thousand ($19,000.00) Dollars~ which Note is hereby incorporated
~herein by reference and made a part hereof, and to secure the
payment of interest as provided under said Note ar~d the covenants
N hereinafter contained.
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And the Mortgagor does hereby covenant ard agree with
the Mortgagee, while this MortgaRe remains in force, as follows:
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k, ;
1. Mortgagor agrees to keep said Mortga~ed Premises
- insured for the benefit of Mortgagee, Mortgagor~ and such other
parties as Mortgagor shall designate, against loss or damage by
fire and with standard extended coverage as available from time
z: to time in the State of Florida for such amounts and with such
I' deductibles as may be reasonable.
E . ±
~ - .
' ~ 2. Mortgagor agrees to pay all taxes and assessments
~ and water rates that may be levied or assessed after the
~ date hereof uoon or against the Mortgaged Premises on or before
G the last day upon which such taxes and assessments may be paid
~ without penalty; and the Mortga~or shall have the right to elect
t to pay and to pay any such assessments in installments, if
~ available.
~ 3. If Mortgagor shall fail to keev the Mortgaged Premises
~ , insured as above provided or to nay the nremiums thereon, or
~ to pay such real estate taxes and assessments~ then Mortgagee,
~ if it so elects~ may effect such insurance and pay the premiums
~ thereon, and/or pay such delinquent taxes and assessments,
~ and the amount so paid shall be secured by this Mortga~e and
~ repaid with interest by Mortgagor within 15 days after receivt
~ by Mortgagor of written invoice therefore from Mortgagee.
; ~,J If any proceeds shall be uayable under any such insurance
~ ~ for any damage to, or destruction of, the mortgaged premises or
t any part thereof, all such proceeds shall be deposited in escrow
~ with a title insurance company in Florida, to be designated by
~ ~ the Mortgagor, and suc!~ vroceeds shall be paic~ over by said
~ title company to the r~ortgagor as needed to enabl~ the-Mort~agor
~ to repair said premises and/or to erect new improvements in place
thereof, without affectin~ the lien of this Mort~a~e for the full
~ amount secured thereby before such damage or rayment ever took
~ nlace.
~ This ins trument prepared by : a~h,
~ John Ed ar SherraXd , •suam To Cnepe.r 71,134. A~ee~ 01 t~Yt.
~ P.0 . Boxg4332 Eg~~0~2~` MGE 8~" aO~E~ paTM~ P
~ Fort Pierce,Florida 33450
~ Cl~.f~ CMeuk CowL ~1. L~ioi~. Oor. R~
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