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HomeMy WebLinkAbout1576 DIRECT HOME IMPROVEMENT MORTGAGE 413'7 WITH FUTURE ADVANCE THIS MORTGAGE, made this 9~ day of March . , A.D., 19 79 ,between Elwood Lucas and Mary 0. Lucas, his wife (Mortgagorl and Sun Bank of St. Lucie County - IMortg~geel: INameof Sun Bank) WITNESSETH, that Mortgagor, for and rn consderatron of the premises and rn order to secure the payment of the prrncrpal and interest on the note Las heranafter defrnedl, Mortgagor hereby grants, sttrgns transfers and mortgages to Mortgagee, its successors and aurgns forever, the lollowrng described real property m St. Lucie County, Fbrida, to wit: Lots 6, & 7, Block 13, SUNRISE-ESTATES, St. Lucie County, Florida, as per plat filed in Plat Book 8, page 75, of the Public Records of St. Lucie d County, Florida. ~•U vJ Ci' _7 J ~ Q ~ Z~~ L Y•LG r.f`i w' 4 Otis, ~~Aga9e) Received ~ ~ In Payment O( Texee _ , ~ ~ c` ~ Due On Clue "C• tntertyible Personal Property, 43813`7 Pam To cn.pler ~ sa, ~s of ~ e» . ° IIOGER POITRAS r~` T '79 I~ibR 22 QM 9 : 3 ~ cl«~t cl~l~ coml. st. Lucie, Co., Fla, Q CL£RK ~I~CU(T CO~riT a Q (hereinafter referred to as the Mortgaged Property); and the Mortgagor does hereby fully warrant the true to the Mortgaged Property > and will defend the same against the lawful claims of all persons whomsoever. PROVIDED ALWAYS, that rf Elwood Lucas and Mary D. Lucas ,the Maker(s) of that (Insert Namelsll ' certain promissory note dated the date hereof (the Note1, their heirs, legal representeuves or assigns shall pay to Mortgagee the principal sum of $ 5, 862' 89 as evidenced by the Note, with interest and upon the terms as provided therein, the final maturity date of the Note and of this Mortgage being March 21 , 1989 , whrth Note provides that all installments of principal and interest are payable at the office of Mortgagee, or at wch other place as the holder may designate in writing, and that each maker and endorser agree to pay all costs of collection, including a reasonable attorney'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 wch default K not made good in accordance with the terms of the Note, that the entire principal sum and accrued, earned interest shall become due and payable without notice at the option of the holder thereof; and shall perform and comply with each and every stipulation, agreement and cov- enant of the Note and of this Mortgage, then this Mortgage and the estate hereby created shall be void, otherwise the same shall remain rn 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 ftire on the building on sad land for not less than S ~ ,approved by the Mortgagee, with standard mortgage loss clause payable to Mortgagee, the policy to be held by the Mortgagee aril to keep the burldirtg on said land in proper repair- s This Mortgage shall secure not only existing indebtedness, but also such future advances, whether wch advarxes 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 as Gy if wch future advances were made on the date of the execution of this Mortgage, but wch secured indebtedness shall not exceed at any ! time the maximum principal amount of $ ~ plus interest, and any disbursements made for the payment U of taxes, levies, or insurance, on the Mortgaged Property, with interest on wch disbursements. Any wch future advances, whether f ~ ~ - >y obligatory or to be made at the option of the Mortgagee, or otherwise, may be made either prier to or after the due date of the Note or .,~j any other rates secured by this Mortgage. This Mortgage is given for the specific purpose of securing any and all indebtedness by the _ W Maker to Mortgagee Ibut in no event shall the secured indebtedness exceed at any time the maximum principal amount set forth in this i paragraph) in whatever manner this indebtedness may be evidenced or represented, until this Mortgage is satisfied of record. All cove- _ ~ Hants arxi agreements contained in this Mortgage shall be applicable to all further advances made by Mortgagee to Maker under this future advance clause. ~ ~ Should any of the above covenants be broken then the Note and all moneys secured hereby shall, wthout demand, rf the X I Mortgagee, so elect, at once become due and payable and this mortgage may be foreclosed, and all costs and expenses of collection and O reasonable attorneys tees, including costs, expenses and reasonable attorneys" fees on appeal, if collected by legal proceedings or ~ J rij through an attorney at law, shall be paid by the Maker, and the same are hereby secured. rl~ Z z U O = x a LL IN WITNESS WHEREOF, the Mortgagor has executed this Mortgage as of the date first above set forth. - Srgnrd, sealed and delwered m ou esence: t dz ~ ~ r ~ ISEAL) ~ / ~ (Mortgagor) ~/~-0 ISEAL) IMortga ) C.. } 1 ; r STATE OF Florida ) I r 1 ,1 t COUNTY OF St. Lucie 1 i ~r 1 HEREBY CERTIFY, that on this day, before me, an officer duly, sutttoErzed in the State aforesaid and m the County aforesaid to take acknowled merits, ersonall a eared E1WOOd and ~ i.~Il j~•ag to me known to be the person described in and who executed the foregoing instrument and fey -r~'~agk~owteAged before me that thL'y executed the same. WITNE$$,my hand and oifiuat seal rn the County antl $xatq `t~?+? _ ~ 9th day of March . - ~ ~ go~~.~05 ~ac~15~ Mv.C~ov;:uron E~~: ;:A.~.;,,;~= r ~.:I - ~ 4-6014.000.7 Rev 6/77 4. E.e!utne i'm.