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HomeMy WebLinkAbout1993 _ ..rte-~.._.~ DIRECT HOME IMPROVEMENT MORTGAGE 4:34'714 ~ ~ WITH FUTURE ADVANCE THIS MORTGAGE, made this 16th ~y of February ~ A.p-, 1f) 79 ~ between Lima D. Barr, a singlfa adult (Mortgagor) and Sun Bank of St. Lucie County IMortgageel: - ~ iName of Sun Bank) WITNESSETH, that Mortgagor, fo? and in consideration of the premises and in order to secure the payment of the principal and Inlffett Oft thtj note (af harNMftN deflnadl, Mortgagor hereby Grants, assigns transfers and mortgages to MortgsgN, its successors and astigrrs forevef, tlta folbwirq described real property in St. Lucie County, Fbrida, to wit: Lots 3 6 4, Block 22, SUNLAIID GARDENS S/D, as per plat " thereof on file in Plat Book- 8, page 32, of the public ~l ~ f~ y records of St. Lucie County, Florida. N i iJ i ~ Subject, however, to that certaia $25,000.00 mortgage dated ' ° Jwae 18, 1976 filed June. 25, 1976 in O.R,Book 234, page 123 s w O~ frr of the Public Records of St. Lucie County,~Florida from J o '~s Linda D. Barr to Security Federal Savings and Loan Assoc. ~ of Indian River County, which mortgage grantee herein e~cpressly `z a ~ assumes and agrees to pay. _ ~ O ~Jrw N ~ W$'~ ~ ~ LEG AND RECORDED: IIr~MItMti it?l~a1~eNIDITino~r ~ Q ~ t 1 N Tliis:_ig ~ 8~ 8l4R1'M11Y~t1~8e • Orr 011 ~wa'~ lhsarlProp~K1?. ~ ~ ujo ~ ^ '~t t ~ ~ ~ t3 1111r11rM T~ CMEplrr 71.111. Ao1s Of 1571. 1 r Q ° a a - 434'714 ~ ronw?s ~ t~Q~~lllitiii w '79 F c 2 ! s ; : p y CI"'I affal~l care. sl. oo.. F>y~ - s a , v~i - (hereinifte~-tafeilred;l~si3lfs Moriga{iad Propertyl; and the Mortgagor does hereby fully warrant the title to the Mortgaged Property ~ and will defend the same against the lawful claims of all persons whomsoever. Q PROVIDED ALWAYS, that if Linda D. Barr, a single adu_ It ,the Mskerltl of that z (Insert Name(sll ~ certain promissory note dated the date hereof (the Notel, her heirs, legal representatives or assigns shall pay to Mortgagee 3,498.56 p the principal wm off as evidenced by the Note, with interest and upon the terms as provided therein, the firwl w maturity date of the Note and of the Mongage being February 16 , 19 82 ,which Note provides that ~ all installments of principal and interest are payable st the office of Mortgagee, or at such other place ss the holder may designate in Q ~ writirp, and that each maker and endorser agree to pay all costs of collection, including s reasonable attorrxy's fee, upon default in the payment of the Note, and that if default be made in the payment of any installment thereunder and that if such default a-not made good in accordance with the terms of the Note, that the entire principal sum and acerued, earned interest shall become due arxf payable without notice at the option of the hokder thereof; and shall perform and comply with each and every stipulation, agreement and cov- errant of the Note and of this Mortgage, then this Mortgage and the estate hereby created shall be void, otherwise the same shall remain in full force. Maker covenants to .pay the interest and principal promptly when due. Mortgagor covenants to pay. the taxes and assess- ments on said property; to carry inwrance against fire on the building on said land for not less than S n~a ,approved ~ by the Mortgagee, with standard mortgage bss douse payable to Mortgagee, the policy to be held by the Mortgagee and to keep the ~ building on said land in proper repair. M This Mor-tgage. shall secure not only existing indebtedness, but also such future advances, whether such advances are obligatory or ~ to be made at the option of Mortgagee, or otherwise, as are made within twenty (20) Years from the date hereof, to the same extent ~ it such future advances were made on the date of the execution of this Mortgage, but wM secured indebtedness shall rat exceed st any ! ~ time the maximum principal amount of S II~S plus interest, and any disbursements made for the payment m w i v of taxes,- levies, or inwrarrce, on the Matgagsd Property, with interest on such disbursements. Any such future advances, whether ~ 2 F+ obligatory or to be made at the option of the Mortgagee, or otherwise, may be made either prior to or after the due date of the Note or C ,,~.t any other notes severed by the Mortgage. This Mortgage is given for the specific purpose of securing any and all indebtedness by the w Per Maker to Mortgagee Ibut in no event shall the secured :tdebtedrress exceed at any time the maximum principal amount set forth in this z paragraph) in whatever manner this indebtedness may be evidenced or represented, until this Mortgage is satisfied of record. All cove- t - pants and gage shall be applicable to all further advances made b Mort Q ~ agreements contained in this Mort y gages to Maker under this future advance clause. - z ~ ~ Should any of the above covenants be broken then the Note and all moneys secured hereby shall, without demand, if the ~ K Mortgagee, so elect, at once become due and payable and this mortgage may be foreclosed, and all costs and expenses of collection and T ~ reasonable attorneys' fees, including costs, expenses and reasonable attorneys' fees on appeal, if collected by legal proceedings or through an attorney at law, shall be paid by the Maker, and the same are hereby secured. z O - a IN WITNESS WHEREOF, the Mortgagor has executed this Mortgage as of the date first above set forth. :r; Signed, sea and delivered in our pr nee: /f e /-~_J ISEALI lMortgagorl ISEALI (Mortgagor) , t STATE OF FlOridB 1 - t - St. Lucie 1 _~N COUNTY OF 1 t, -`ti I HEREBY CERTIFY, that on this day, before me, s ~ ~ 'ttsd le the Stat77ettaforesaid and in the County aforesaid ~ to take acknowledgments, personally appeared Linda` ' - e ~tfrrRe known to be the person described ~ t. ~ ~ in and who executed the foregoing instrument and - b9~ before me that executed the same. WITNES~,tny hand and official seal in the County ~ - ~hls, 16th y of February , i ~ _ +r / ~ q s. ~ _d , 1~P tic B~Kt~ PACE1s~ , ~ ` ~*^~n+~rr ~1c s?~Tf !,f rtorlt;~? ~ v,~ " 46014.000-7 Rw 6/77 ~ MY CC::AMi5510N E:.P.:,:S ~ J is='•1 E.«,..~.?..,. 4 I)IONOeD RiW GttrEil~l. INS. u:.nXr, z: