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THIS ~'vSTRUMENT PREPAREO BV. 4~~ S~L1
Clyde P. Platts
secu,fty f.er.M s,viry~s a loan Ass«;,f~on ~
O~ IfW~MI RiYN COU111y M O R T C A C E
Si~cth Aveiwe and Twer?fy Finf Street
vero Beach, Fiaida 32960
Loan No.. - ~44
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THE IiNDERSIGNED, ___Backus_Enterprises,_.~~c~,._a Florida Co~rat_i_on__~____ _
of Ft,_ Plerce _~________,Countyof St._ Lucie Stateof Florida,hereinafter
referred to as the Mortgagor, dces hereby mortgage and warrant to SECURITY FEDERAL SAVINGS AND
LOAN ASSOCIATION~OF INDIAN RIVER COUNTY, a corporation organized and existing under the
laws of the United ~tates of America, hereinafter re ferred to as the Mortgagee, the following real estate
+n the Couniy of St~_ lucJe~__ in the State of Florida, to wit:
Lot 1~, Block 12, SUNLAND GARDENS, according to the plat recorded in
the offlce of the Clerk of the Circuit Court, Plat Book 8, Page 32,
Public Records of St. Lucie County, Florida. ~
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~ If a conveyance should be made by the mortgagors of the premises herein described, or any part
~ thereof, wit!~out the written consent of the Association, and withoui assumption in regular form of
~ law Hy the g~antee of the obligations to the Association created by said promissory note and this mort-
~ gage, then, and in that event, and at the option of the Association, and without notice, all sums of
money secured hereby shatl immediately and concurrently with such conveyance become due and pay-
able and in default. The Association reserves the right to withhold consent to any such conveyance ~
and assumption until and unless satisfactory financial reports and other personal data required by the
Associaiion are furnished to the Association by the party acquiring title to the premises, or any pari
thereof. By giving its consent to such conveyance, the Association shall not be deemed to have ~eleased
the inortgagor hereunder from any liability hereunder. The Association may deal with successors in in- ~
terest with reference to this mortage and the debt hereby secured in the same manner as with the ;
mortgagors, and may forbear to sue or may extend time for payment of the debt, secured hereby, or
~ ott?erwise act without discharging or in any way affecting the liabiliry of the-mortgagors hereunder
or upon the debt hereby secured. The Association may also dea! with ihe Mortgagors and/or with a
successors in interest with reference to this mortgage and the debt hereby secured by forbearing to ~
~ sue, extending the time for payment of the debt, providing for different monthly paymenfs and/or a
~ different interest rate, and by other express modifications of the contract, without losing any priority
~ the Association has over other mortgagees or lienors or holders of any junior interest in the property ~
`p secured hereby. ~
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~ Together with all buildings, improvements, fixtures or appurtenances now or hereafter erected there- `
~ on or placed therein, induding all apparatus, equipment, fixtures or articles, whether in single units or ~
centrally controlled, used to supply heat, gas, air conditioning, water, light, power, refrigeration, ventila- ~
~ tion ~r other services, and any other thing now o~ hereafter therein or thereon, including screens, window
~ shades, storm doors and windows, floor coverings, screen doors, awnings, stoves and water heaters i
~ (all of which are intended tp be and are here5y declared to be a part of said real estate whether physic-
ally attached thereto or not); and also together with all easements and the rents, issues and profits of
~ said premises which are hereby piedged, assigned, transferred and set over unto the Mortgagee, whetf,er
~ now due or hereafter to become due as provided in the Supplemental Agreement secured hereby. The t
Mortgagee is hereby sub~cigated to the rights of all mortgages, lienholders and owners paid off by pro-
ceeds of the loan hereby secured. Q~` 9 PAGE / t7't
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