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REAL ESTATE MORTGAGE ; .
Fees) . ~ ' + .
THIS INDENTURE between MICHAEL M. MYLAN
hereinafter called the' mortgagor and CHARLES HENRY DOW, TRUSTEE,
hereinafter called the mortgagee;
WITNESSETH that whereas the mortgagor is ~tlatly indebted to the mortgagee in the stun of s61, 0 6 0.0 0
8 a~~videntxd by the certain promissory note of even date herewith, bearing interest from date at the rate of
~J6 per annum, signed by the mortgagor and payable to the order of the mortgagee as follows:
$6,106.00 or more, plus accrued interest, on or before January 1,
1980, and the some of $6,106.00 or more, plus accrued interest,
on or before the first day of each and every January thereafter
until the principal indebtedness together with the interest there-
on be fully paid. '
THEREFORE, the said mortgagor for the purpose of securing the prompt and punctwl payment of the said debt- and the
~ interest to accrue thereon and the performance of the ooveaants and agretments hereinafter expressed and in consideration
of 11.00 cash in hand paid, the receipt whereof is hereby acknowledged, by these presents, does grant, bargain. sell, aliea.
remise, release. convey and confirm unto the said mortgagee in fee simple all of that certain tea of land, situate, lying and
being in the County of St. Lucie . in the State of Florida, described as fellows. to wit:
The South 100 feet of the North 400 feet of U. S.
Government Lot 1 in Section 3, Township 34 South
~ Range 40 East, lying East of U.S. Highway 81-A
(3-A).
~ (THIS IS A CORRECTIVE MORTGAGE, DESIGNED TO CORRECT THAT MORTGAGE
RECORDED JANUARY 25, 1979, IN THE CLERK OF THE CIRCUIT COURT'S
OFFICE IN ST. LUCIE COUNTY, FLORIDA, AT OFFICIAL RECORD BOOK 302
PAGE 565. THIS DOCUMENT DOES NOTHING MORE THAN CHANGE THE LEGAL
DESCRIPTION OF THE PREVIOUSLY RECORDED DOCUMENT AND I~EVI-
' DENCE OF ANY NEW DEBT Recehrsd 0 ry~ Past ~ Tax«
. Due On Class "C" lrttenpible Pirsonal Property,
PurausM To Cltaater 71, 134, Acts Of 1971.
ROQER POITRAS c~
Clerk Circuit Court, SL t.ucN, Co.. Fla.
j TO HAVE AND TO HOLD the same, together with the tenements, heriditaments and appurtrnances unto the said
nwrtgagee in fee simple.
The mortgagor covenants with the mortgagee that he is lawfully seized o „t~e, estate ~e{ern: ogpvey~ t~ 1>a~ .full power
and right to convey and mortgage same; that We mortgagee shall quietly ed~by and'' `the hfe; th t he does hereby
i warrant the title to said land and will defend same against any and all lawful claims wihatsoever, and that the said estate
is free from all liens and encumbrances whatsoevu.
The mortgagor hereby further promises. covenants and agrees to and with the mortgagee as follows:
` t. To pay all and singular the principal and interest and other sums of money payable by virtue of said note and
this mortgage deed or either, promptly on the dates respectively when the same sevenlly become due.
II 2. To pray. all and singular the taxes, assessments, levies, liabilities. obligations, liens and encumbrances of every nature on said
described property each and every and if -the same be not promptly paid. the said mortgagee may. at any time (but it -shall
not bo his duty to do so). pay the same wiWout waiving or affecting the option to foreclose or any other right hereunder.
3. To pay al! and singular the costs, charges and expenses including a reasonable attorney's fee incurred or paid at
any time by the mortgagee because of the failure on the part of the mortgagor to perform, comply with and abide by each
and every the stipulations, agreemrnts. conditions and covenants of said promissory note and this mortgage deed or either.
' 4. To keep the improvements on said property in good repair and condition and that he will not be guilty of waste, either
s ~ active or permissive.
j S. To ketp the buildings aow or hereafter on said land insured against loss by fire, windstorm and tornado in the
t i sum of at least S , or to the extent of the value of wch improvements, in some company or companies
a acceptable to the mortgagee, with loss payable to the mortgagee as his interest may appear and to pay the premiums on such
1 policy or policies when due, and upon issue of such policies to promptly deposit them with the mortgagee and agrees that the
3 ' proceeds of any of such insurance policies shall be applied to the payment of the indebtedness herein, or at the option of the
mortgagee, to the ttpau or replacement of the improvements upon the said property.
6. That should the mortgagor fail to comply with any of the foregoing covenants, the mortgagee may, at his option,
pay any of such costs, expenses, attorney's fees, taxes. assessments, encumbrances, insurance premiums or any other claims
that should be paid by the mortgagor, in either which events the sums so paid shall be immediately due and payable and be a
` part of the indebtedness secured hereby and sball bear interest at the rats of 10~k per annum from date of payment.
- 7. That should the mortgagor fail to pay any installment of the principal and interest or any other items of debt hereby j
_ secured when due and should such dtfau{t continue for a period of thirty days, then the entire principal and accrued interest
' and all other indebtedness secured hereby shall, at the option of the mortgagee and without notice to the mortgagor become
~ immediately due and payable.
8. That the mortgagor agrees that the mortgageE shall be entitled to the appointment of a receiver to take care of the
` premises, to collect the rents, issues and profits and to keep the premises in good npatr and to apply the ernes, issues and
profit: to the payment of the debts segued hereby in the event of forcelosurc.
9. That the failure of the mortgagee to exercise any of his options to precipitate the debt secured hereby beaux of any
violation of the conditions, agretmetst>< leer covenants of this mortgage, shall not constitute a waiver of the right to exercise
sum option beause of any subsequent dilation.
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