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Home My WebLink About1507 THIS MORTGAGE INDENTURE 445~~76 53812A2 kc E.ecutad tnn 4 day of May . A.o.,1979. M LAWRENCE J. FARRBLL and MARY A. FARRELL, husband and wife party of 1M fast part ItsaeinahN called Matgagorl, w CHASE FEDERAL SAVINGS AND LOAN ASSOCIATION a corporation sxistirtq under the laws of tM UnitW States of America, party of the record part IhNainaltN called the AuocNlanl, WITNESSETH, Thal Ior divers good and valwbk corssidNations, and to secure the payment of the aggregate wm of riiorsey named in the promissory note of even date herewith, froreinalta mentioned, tOgethN vinth interest tfstreon end all othN sums of money secured hNeby as hereinattN provided, the Mortgagor does grant, bargain, sell, alien, remise, reltite, convey and confirm unto the Association, in Ise simple, the following despibed real estate, of which the Mortgagor is now served and possestrd ariil in a~tlo,tow~~ Condominium~Parcel No. 5424tofLGolf Villas, a Condomiaium1easlaper Itherrt~ Declaration of Condominium thereof, recorded in Official Records Book 302, Pages 1250 through 1326, as amended by Certificate of Amendment, recorded in Official Records Book 306, Pages 2991 through 3006, all of the Public Records of St. Lucie County, Florida. SUBJECT TO above Declaration of Condominium and Certificate of Amendment. TOGETHER with ell structures and improvNrsenn now and herNttN ort said land and the fixtures attached thNSto, also together with all and singular the tenements. hereduaments, easements, riparian rights and appurtenarsces thereunto belorsgirg, or in any wise appatainrng, and the rents, issues, and p.ofns thereof, and alw all Ilse estate, .iyht, title, intNest and all claims and demands whatsoever, as well in law ss in equity, of said Mortgagor in and to the same, and every part and parcel thNeol, and alw all gas and electric fixtures, radiators, heaters, air conditioning equipment, machinery, balers, rsrsges, elevators and motors, bathtubs, sinks, watN closets, water basins, pipes. lancets, and orhN plumbing and heatir?g fixtures, mantels, retrgerating plans and ice boxes, window ,s:reens, screen doors, venetian blirsds, storm shutters and awnings, which ire now or may hNN1tN per tam to Or be used with, in M On said premises, even though they be detached Or detachable, are and shalt be dlerrsod to b! fixtures and accessions to the Ireehold and a part of the realty, and, if the atiove described property is now or shall hereafter he used for commercial purposes, then the tumrture and lurmshings orrice any replacements thertrol which may be owned ny the Mortgagor and which are now or may haealtN be located upon the above described property. TO HAVE AND TO HOLD the same, togethN with all the estate, right, title, interest, homestead, dowN and right of dower, separate estate, possession. claim and demand whatsoever, in law or in equity, of the sad Mortgagor rn and to the same, and every Part thereof, unto the said Assocation in lee simple. The Mortgagor hereby covenants with the Association that the Mortgagor is indefeasibly seized with the absolute and tee simple title to said property, and has full puwN. and lawful authority to sell, convey, transfer and mortgage the same: that it shall be lawful at any time hNealtN for the Association to peacYablY and quietly entN upon, have, hold and M~oy sad propary, and every part thNeol; that card property is free and discharged Irom all bens, encumbrances, and claims of any kind, irscludirsg taxes arxf assessments, except the lien hereof, which is a his[ lien on said property: that the Mortgagor wdl make such further aswrarsces to perfect [he lee simple title to sad property .n the Associauon as may reasonably tit required: and that the Mortgagor does hertby fully warrant unto the Association the tide to said propNW and will defend same d.}ainst the moftgigG claims and demands of all pNSOrss vrhortls0lvlr. NOW, THEREFORE, the condition of this mortgage is such that i) the Mortgagor shall well and truly pay unto the AsSnciatrOn, the inctebtatness P~~denced by that certain promissory note, of even date herewith, made by the Mortgagor and payable to the Association, in the principal wm ,,,-----------THIRTY-SIGHT THOUSAND, THREE HUNDRED---------- ooLLARs ,S 38 , 300.00 1, together with interest as therein stated, payable over a tam of 300 months, and shall r,erform, comply with and abde by each and every the stipulations, ageements, conditions and covenants contained and set forth in this mortgage and in the promissory note secured hereby, then this mortgage and the estate hNeby created shall cease and be null and void. AND the Mortgagor does MrsM eovensnt and agree: 1 To pay all and singuWr the principal and interest and other wins of money payable by virtue of said promissory rate and tftis mortgage. a either. promptly on ttse days respectrvsty tfse same severally become dw. 2 To pay all and singular lire isuss. assessments. other governrrronul Mvies. lisbfitiss. obligations end encumbrances of every nature on said described property and the related debt acquisition each end every when dw and payable according to law. before they become delinquent and. if the same shall rat be promptly paid. the Assocation may at ar?y time. sithet before or after delinquency. pay the same without waning or affecting the opton to forecbse. or any right y>. ~ hereunder. and every payment ao mach shall bear interest 6om tM date thereof at the rate of ten per cent (1096) per sruwm. ~ c ~ 3 That the Mortgagor wid keep all real and personal property now or hsrsaftsr sncumbNSd by the Iron of this rrsortgage inwred as may be required from time to ~ m time by the Association against bas by hrs. windstorm and other husrds. uwaltros and contirsgerscies (or wch perads and for not less than such amounts as ~ e ~ may bB requued by flee Association and t0 pay promptly when due all ptemwms for EUth inwrance. Mortgagor agrees to deliver renewal W replacement ~ N ~ policies. The amoun s oiri~rssrusrscenregwsd by tfsoe i~~nte to~N bs~muwa mum amounts for wtAicA said rnwrae s~shsll bs written and rt dshallobe incum tftent - ~ M Z ~ upon the Mortgagor to maintain strcA additional inwnncs as may be necessary to meet and comply fully with all for-inwrarsce requirements contained rn sad O M policies to the end that said Mortgagor K not a oo•inwra tlroreursdsr. Insurance shall be written by s company or companies approved or dssiprsated by the y ~ .0 Association and all policies end rorssvvals thereof shall be held by the Association. AU detailed dssipnations by the Mortgagor which ere accepted by the ~ Q Association end all agreements between Mortgages and Association rslatirsg to insurance. now existing or hereaftN made. shall be in writing and shall be a part ~ O of this mortgage agreement as fully as thargis set bids verbatim herein end shall govern both parties hereto and their successors and assigns. No Iron upon any _ ~ ~ of said pdiaes of irssurarsce or upon airy reftutd or ntum premium which may be payable on the tarscelgtan or termination thereof, shall bs given to other than C~ the Association. except by proper endorsement aHued to such policy and approved by the Association. Each policy of inwrarice shsM have affixed thereto a ~ ~ ~ Standard New York Mortgagee Clause without Contribution. making ell loss a braes under such pdity payable to the Association ss its interest may appear m ~ - O ~ 3 In the event any wm or wms of morsey b~ewme payable ttisreunde?, the Assoastan shall have the option to receive and apply the same on account of the in- N debtedness hereby secured, or to pNmt the Mortgagor to receive and use it. or any pert thereof. witfaut thereby waiving or impairing any equity. lien a right j = Q ~ under and by virtue of this mortgage In event of loss or pfsysicsl damage to the mortgaged property. the Mortgagor shall give immediate notice thereof by mad j r ~ ,J' to the Assopatwn and the Assoaation may make proof of bas if tAe same is not made promptly by the Mortgagor. fn event of foreclosure of this mortgage. or f = other transfer of title to the nsortgsgsd property. in extrrsguishment of the rndebtsdness secured f?Neby. all right. title and mterest of the Mortgagor m and to I - ~ 2 arty mwrance policies tlsNS in force shall pass to tfro purcfussr or grantee. The Mortgagor further agrees to abide by the rules and existing regulations of the Assocratan. in connection with regtiirsd inwrarsce coverage of the property herein erscumbered f E S _ _ _ RECEryEp 7 ~ i G Ga r - ~ ~ - ~ M ~ DUE ON CLASS`r'r^--: IN PAyly . N - - . _ - pURSUAIIi i0 C fNiAHCtBLE PEtiSg~ ~ TES - ...:.t:: - ~ 5 - _ 5 - ply 80&fl: p~~ S OF I~J1~ `_~r__ . _ ST, 111 ~ ~ 4 Paragraph t and those which folbw errs contained on tM rovsrss side of this mortgage and by referersce xe incorporated into the body of this mortgsgs- The Berms Mortgagor and Association, whenrm used in this instrument, shall include the heirs, pNSOrwI representatives, wccessors or assgns of the respective parties Hereto. WherrvN used, the singular number shall include tht plural and the plural tftt sirsgirlar, and t of any gender shall all ge rs. ~ IN WITNESS WHEREOF, these premises hm been executed on the day and year first above Sgned, sealed delwered in the presence oi: t ~ ~ 1 ~ ISEALI t ~ E J. = ISEALI - M A. L a ISEALI _ (SEAL) a a s - _ ~ _ STATE OF FLORIDA COUNTY OFQ~ - • ~ p The taegorrsg instrument was acknowledged before rM this- day of , 19~ by •M - LAWRENCE J. FARRELL and MARY A. FARRELL, husband and wife t~ ~ , _ s - My commission exgres ~j~ Q ` ~r A,r•,^ ~ C~~O~ Notary Public, Statlof ' 3CC. .act j - - ~`r~' y.M