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HomeMy WebLinkAbout2565 i _ ~ ; DIRECT HOME IMPROVEMENT MORTGAGE 4~8;~i6 . ~1 wITH FUTURE ADVANCE THIS MORTGAGE made this lSth_ day of June A.O., 19 ,between James B. Thaxton and Lyon A. Thaxton, his wife _ _ (Mortgagor) and Sun Bank of St. Lucie County (Mortgageel: lNameof Sun Bank) WITNESSETH, that Mortgagor, for and in consideration of the premises and in order to secure the payment of the principal and interest on the note tas hereinafter detinedl, Mortgagor hereby grants, assigns transfers and mortgages to Mortgagee, its wccessors and _ St Lucie ~ auigns forever, the lollowirg described real property in County, Fbrda, to wit: j ,;5~ The East 60 feet of the West 120 feet of Lot 47, MARAVILLA GARDENS ~ SUBDIVISION, UNIT NO. 1, as per plat thereof on file in Plat Book 6, 1.L ~ Page 55, of the Public Records of St. Lucie County, Florida. .a- i ~ A ~ ~z,~ ~ - "~'~Y This is a second mortgage. ~ + i ~~~jo Ili! st .~~1 a. rCE:VEO = 0. ~ ~ t}f ~•+A 4'-?I: ,~~:::tEiitl!! DUE ON CLASS 'C' IHiAIIG 8~, ; `,l , PURSUMT TO GlMTiR 71-..4, A;.jS~~~ ~P~~fi~ CI R06ER Pa;IT:.AS RCIRT CWRT, ST. LOGE C~,, FLA. ~ 'ML~D A1:0 frt Cun,lt D ~ ~~~~~~ns~- 4482gs R:COf~~fP.lf 77 ~i.L~~~~"~ (hereinafter referred to as the Mortgaged Propertyl; and the Mortgagor does hereby fully warrant the title to the Mortgaged Property ~ and wiil defend the same against the lawful claims of all persons whomsoever. PROVIDED ALWAYS, that if `lames B. 6r Lynn A. Thanton ,the Makerlsl of that Ilnsert Namelsll certain promissory note dated tfte date hereof (the Note), their heirs, legal representatives or assigns shall pay to Mortgagee the principal sum of S 10, 053.26 a, 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 June 16 ~ , tg $9 ,which Note provides that all installments of principal and interest are payable at the office of Mortgagee, or at wch other place as the holier may designate in writing, and that each maker and endorser agree to pay all costs of collection, including a reasonable attorney's tee, 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 iz not made good in aceordance with the terms of the Note, that the entire principal win 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 vod; 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 insurance against fire or. the building on said land far not less than $ ~ ,approved by the Mortgagee, with standard mortgage loss clause payable to Mortgagee, the policy to be held by the Mortgagee and to keep the building on said land in proper repair. `t This Mortgage shall secure not only existing indebtedness, but also such future advances, whether wch advances are obiigatory or E ~ to be made at the option of Mortgagee, or otherwise, as are made within twenty (201 years from the date hereof, to the same extent as ~ if wch future advances were made on the date of tha exewtan of this Mortgage, but such secured indebtedness shall not exceed at any I p PIA s ;U ~ time the maximum principal an-count of s plus interest, and any disbursements made for the payment _ ; ~ ~ of taxes, levies, or inwrance, on the Mortgaged Property, with interest on wch disbursements. Any such future advances, whether ! V ~ 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 f ~ ~ ~ any other rwtes secured by this Mortgage. This Mortgage is given for the specific purpose of securing any and all indebtedness by the ~`a ~ Maker to Mortgagee (but in no event shall the secured indebtedness exceed at any time the maximum principal amount set forth in this paragraph) in whatever manner this indebtedness may be evidenced or represented, until this Mortgage is satisfied of record. All cove- y :1; I Hants and agreements contained in this Mortgage shall be applicable to all further advances made by Mortgagee to Maker under this ~ ~ N future advance clause. ~ •r/ i+a 4 Er ; O ~ , ~ Should any of the above covenants be broken then the Note and all moneys secured hereby shall, without demand, if the S ~ ~ Mortgagee, so elect, at once become due and payable and this mortgage may be foreclosed, and all costs and expenses of collection and _ ~ ~ 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 u .a ~ 4 IN WITNESS WHEREOF, the Mortgagor has executed this Mortgage as of the date first above set forth. ~ - li Sgned, sealed and delivered r m our presenC _ _ _ s / /a ' ='r (SEAL) ' / ~ (Mor r) ~,.c~ ~f7 ~ ~ • ~~/lip--- (SEAL) (Mortgagor 2 r STATE OF Florida 1 St. Lucie I r COUNTY OF s I HEREBY CERTIFY, that on this day, before me, an oifiper,drslY' St to aforesaid and m the County aforesaid to take acknowledgments, personally appeared 'lamely B..= ~ • s' - 'to me known to be the person described e _ ~ s in and who executed the foregoing instrument and r !~t¢~,ftne that they executed the same. WITNESS my hand and official seal rn the County and State lass ~~~y y of June , ' Notary C,-~,~,=~~ O ~ it My COmmission`•~plf+esf BCC!! 310 PAf,F t _ . _ . 8/7 ~ t' tr. rx j'^tlba AT _ t a-6014-0007 Rev 7 . , , . =c ~ : : c..~ _ . ~ . , E.K,..,....... I ~ ttl is ;1 :.;.J (w."._ r;rll. i t ~ , . .