Loading...
HomeMy WebLinkAbout1609 ~ Steve L. Henderson - 443bi98 of Jones, Psiile; ~,~Foste>C;a Pi. A. ~ 0 Thts mortgage was prepared by, Vero Beach MORTGAGE , FL 32960 This Mortgage is made this.~_day of_~pril 19Z~, by and between SAMUEL HARRIS, JR. and PEGGY ANN ARRIS, his wife, ("Mortgagor"), and American Funding Corp., a New jersey corporation authorized to do lwsiness as The Morey Savers ("!Mortgagee"?, having an office at 100 B1SCa,~ne Blvd Ctty of Miami County of Dade ,State of Florida. W I T N E S S E T N WHEREAS, Mortgagor is indebted to Mortgagee in the sum of as evidenced by that certain promissory note of even date herewith, executed by Mortgagor and delivered to Mortgagee, a copy of which is attached hereto (the "Note); NOW. THEREFORE to secure the performance by Mortgagor of all covenants and conditions in the Note and in this Mortgage and in cep other itturu- ments securing the Note. and in order to charge the properties, interests and rights hereinafter described with such payment acct performance and to secure renewals and extensions thereof, and for and in consideration of the sum of Trn and no/100 Deltas (SI0.00), Mortgagor does hereby mortgsge, sell, pledge and assign to Mortgagee all of the land in the County of St • Lucie - Stttte of Florida, which is more puticululy described as follows: Lot 20, Block 2, PROGRESS PARK TWO, according to the Plat thereof, recorded in Plat Book 12, Page 16, of the Public Records of St. Lucie County, Florida. ~~Sp M' 1 - - _ - - /g ~ . a U J ~~,V1 E T t: Y ' ~ ~ ? . _ ( 01N 011 CIS 1R~11~~ titN1~ tlti/t~ _ ^b . a , ~ . ` _ ; 3. 5 0 ~ . 'w,(a,1~c Te ~ rortMs ~ - ln accordance with the rulings of the Florida Department of Revenue, the Documentary Stamp Tax and InungabkTu should be ~ calculated on ~ 9 X000.00 ,the amount financed in this transacUan. ' To have and to hold the same, toReiher with all improvements and appurtenances thereto, and also all the estate, right, title, interest, homestead, right of dower, separate estate, property, possession and claim whatsoever of Mortgagor to the same in every part and puce! thereof unto Mortgagee in fee simple ("Mortgaged Property"?. SUBJECT TO the tollowinq "Permitted Liens": That certain Diortgage dated August 27, 1961, filed August 27, 1961, and record- ed in Office 1 R cords Book 43, Page 613, of the Public Records of $t Lucie County Flori~a, from Samuel Harris, Jr. and Peggy Ann Harris his wife, to $~outheaBt Mo 3ga~e Compan~,and assigned to Federal Natio al !~ortg a Assoc~atior. @c8r$S 8g ~ 1~ gas re-recorded in O.R.Book ~6, Page ~~6, Public This loan ismade t ate c bPratf thorized underChapter65ti.17 of the Florida Statutes as authorized by Chapter 678.12. PROVIDED ALWAYS. that if Mortgagor shaA pay [o Mortgagee the Nae at the times and in the manner stipulated therein. and in all other instru- ments securing the Note, including renewals, extensions or modifications thereof, and in this Mortgage and in all other instruments saying the Nae, to be kept, performed or observed by Mortgagor, then this Mortgage shall cease and be void, but shall otherwise retrain in full force and effect. Mortgagor covenants and ogees with Mortgagee u follows: ~ 1. Coin wilt Note aced M Wares of Tick. Mon or shall coin p gage and of every other ~ pWsce ortgage; lY gag ply with all revisions of the Note. this Mon instrument securing the Note, and will promptly pay to Mortgagee the principal with interest thereon and all other sums required to be paid by Mortgagor under the Note and pursuant to the provisions of this Mortgage and of every other instrumrnt securing the Nae. Mortgagor is irdeftxsibly seized of the Mortgaged Property in fee simple and Mortgagor has lawful authority to convey, mortgage and encumber the same as provided by this Mortgage, and does hereby so wurant. 2. Paltnesl of Taxes gad IJess. Mortgagor shall pay all !tie tug, obligations and encumbrances of every nature now on the Mortgaged Property or ~ that hereafter may be imposed upon this Mortgage or the Mortgaged Property or upon the indebtedness secured hereby, except that Permuted Liens may be discharged in accordance with their terms. Ap such paymrnts to be made whrn due and payable according to law before they become deliquent acct before any interest attaches or any penalty is insured. Insofu u any indebtedness is of record (except indebtedness giving rise to Permitted Dens) the 3 same shall be promptly satisfied and eviderice of such satisfaction shall be givrn to Mortgagee. 3. /waste. Mortgagor shall keep the Mortgaged Property and the improvemrnts now existing or hereafter erected on the Mortgaged Property insured u may be required from time to time by Mortgages against loss by fire, other hazuds std contingencies in such amounts and for such periods as may be requued by Mortgages. Mortgagor shall pay promptly, worn due, any premiums on such insurance. All insurance shall be curled with companies approved by Mortgagee and the policy and renewals thereof shall be held by Mortgages and have attached thereto loss payable clauses in savor and it corm acceptable to Mortgages. In the evrnt of loss, Mortgagor stroll give immediate notice by mail to Mortgagee and Mortgagee riay make proof of loss if I not made promptly by Mortgagor. Each insurance company rnncerned is hereby authorized and directed to make payments for such loss directly to R Mortgagee instead of either to Mortgagor or Mortgagor and Mortgagee jointly. Insurance proceeds or any part thereof may be applied by Mortgagee at its option. after deducting therefrom all its expenses indudieg attorney's fees, either to the reduction of the indebtedness hereby secured or to the restoration ~ or repair of the property damaged. Mortgagee is hereby authorized, at its option, to settle and compromise any claims, awuds, damages, rights of action x and proceeds. and any other payment or rdief under any insurance policy. In the event of foreclosure of this Mortgage or other transfer of tick to the Mortgaged Property in extinguishment of the indebtedness secured hereby, all right, tick, and interest of Mortgagor in and to any itisurarice policies thrn in force stall pus to the purchaser or games. Mortgagee may at its option require Mortgagor to deposit with Mortgagee on the first day of each month, in addition to making payments of principal and intact, until the Nat is fully paid, an amount equal to one-twelfth (1/12) of the yearly premiums for all insurance. Snot deposits shall not be, nor be deemed to be, trust funds, but may be commitigkd with the general funds of Mortgagee, and no interest shall be payable in respect thereof. Upon demand by Mortgages,'Mortgagor shall deliver to Mortgagee such additional monies as are necessary to make up any 3 deficiaicies in the amounts iieoessary to enable Mortgages.to pay such premiums when due. In the evrnt of default under any of the terms, covenants and corditiorts in the Note, this Mortgage or any other instrumrnt securing the Nae to be performed or observed by Mortgagor, Mortgages may apply to the reduction of the sums secured hereby, in sucA manner as Mortgagee shall determine, any amount under this paragraph remaining to Mortgagor's audit std any rettus premium rtxeived from arcellation of any insurance policy by Mortgagee upon foreclostue of this Mortgage. 4. Cosie~gtios. It the Mortgaged Property or any pan thereof shall be damaged or taken through condemnation (which term worn used !reran i shall irclttde any damage or taking by any governmenW authority or any other authority authorized by the laws of the Stitt of Florida or the United States of America to so damage or take, and any transfer by private sale in lieu thereof, either tempoarily or permatitatly, the rntire indebtedness gad - other sums secured hereby shall, at the option of Mortgages, become imniediatdy due and payable. Mortgagee shall be rntitkd to aq oompatsation E awuds, danuges, daims, rights of action and proceeds of, or on account of any damage or taking through oortdartnation and a hereby authorized. st its option. to oomtrtrnoe. appeu in and prosecute, in its own or Mortgagor's mate, say action or proooeding relating to any cordemmtios, std to settle or compromise any claim in connection therewith. All such compensation awuds, damages. claims, rights of action and ptootxds, and any other paymaits or relief, and the right thereto, tie hereby assigned by Mortgagor to Mortgagee and Mongsga after dcdiictirg ttueretrom all its expenses including attorney's fees tiny release any monies so rixeivod by it without affecting the lirn of this Mortgage or Tray apply the same, in such manner as Mortgages shall deter- mitre, to the retluctiort of the sums sawed hereby and to any prepayment chug! provided in the Note. this Mortgage or cry outer iratrurrrnt securing the Note. Any balance of such monies that remaining shall be paid to Mortgagor. Mortgagor ages to execute such further assignments or any compensa- tans, awards. damages. claims. rights of action and proceeds ss Mortgages tray require. S. ~e o/ Marlgagatl lroyerty. Mortgagor shall not reawve or demolish any building or outer property forming a part of the Mortgaged Property without the writtrn consent of Mortgages. Mortgagor sha0 not permit, commit, or suffer any waste, impairment or deterioration of the Mortgaged Prop- aty or atsy part thereof, and sha0 leap the same and improvemrnts thereon in good condition and repair. Mortgagor shall notify Mortgages in writing within true (S) days of any damage, a impairrsem of the Mortgaged Property. Mortgages may, at Mortgsga's discretion, have the Mottgsged Ptopary inspected at any time and Mortgagor shall pay all costs incurred by Mortgages in executing such inspection. eq~ ^^nn 3CC! JUS :'r=1~t1~ r _ _ -