HomeMy WebLinkAbout2184 4.
DIRECT HOME IMPROVEMENT MORTGAGE 4S5z~~ ~ -
WITH FUTURE ADVANCE
THIS MORTGAGE, made this 10 day of August A.O., t8 79 ,between
William. F. Watson
(Mortgagor) and
Sttn nk of S atr•{a [7nnnt~ iMortgageel:
(Name of Sun Bank)
W ITNESSETH, that Mortgagor, for and in consideration of the premises and in order to secure the payment of the principal and
interest on the note Las hereinafter defintdl, Mortgagor hereby grants, assigns transfers and mortgages to Mortgagee, its successors and
assigns forever, the following described real property in St. Luci@ County, Fbrida, to wit:
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Lot 10, Block 2, Tropical Beach Subdivision, according to Plat thereof recorded R
in Plat Book 9, page 26, public records of St. Lucie County, Florida
The South 40 feet of Lot 9, Block 2, Tropical Beach Subdivision, amore
particularly described as-all that part of 11It S~iying within 40 feet
F of the line dividing said Lots 9 and 10, Block 2, Tropical Beach Subdivision,
o as per plat thereof recorded in Plat Book 9, page 26, of the Public Records
of St. Lucie County, Florida.
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Subject to all mortgages of record. 4~~~
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(This is a Second, Mortgage) URSJAdIi TO CHAPTE;~ 7f.:3t, ACTS OF tin, '
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w CLERK CIRCUIT COURT ROCFp PWTRAC "
N RECORD VERIFIEtt.__ CIJdK CL~CWT CWNT. -1or~v
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(hereinafter referred to as the Mortgaged Propercyl; and the Mortgagor does hereby fully warrant the title to the Mortgaged Property
> and will defend the same against the lawful claims of all persons whomsoever_
William F.. Watson
a PROVIDED ALWAYS, that it ;the Makerlsl of that
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~ certain promissory note dated the date hereof (the Notel, his heirs, legal representatives or assigns shall pay to Mortgagee
p the principal win of S 5 ~ 248.26 as evidenced by the Note, with interest and upon the terms as provided therein, the final
° August 9th , fg 84 ,which Note provides that
w maturity date of the Note and of this Mortgage being
~ all installments of rir?ci I and interest are payable at the office of Mort
Q p pa gages, or at such other place as the holder n?ay 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 such default is not made
good in accordance 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 torte. Maker covenants to pay the interest and principal promptly when due. Mortgagor covenants_tA pay the taxes and assess-
ments on sad property; to carry insurance against fire on the building on said 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 and to keep the
buikfirg on said land in proper repair.
This Mortgage shall secure not only existing indebtedness, but also such future advances, whether wch advances 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
~ 0 if wch future advances were made on the date of the execution of this Mortgage, but wch secured indebtedness shall not exceed at any
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m time the maximum principal amount of S ~ plus interest, and any disbursements made for the payment
f ° f of taxes, levies, or inwrance, on the Mort Pro t
gaged party, with interest on wch disbursements. Any such future advances, whether
! oblgatory 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
Q ~ any other notes secured by this Mortgage. This Mortgage is given for the specific purpose of securing any and alt indebtedneu by the
1 w Maker to Mortgagee (but in no event shall the secured indebtedness exceed at any time the maximum principal amount set forth in this
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E S paragraph) in whatever manner this indebtedness may be evdenced or represented, until this Mortgage is satist~ed of record. All cove-
,n ~ ~ pants and agreements contained in this Mortgage shall be applicable to all further advances made by Mortgagee to Maker under this
Q future advance clause.
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~ ~ Should any of the above covenants be broken then the Note and all moneys secured hereby shall, without demand, ri the
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 Iega1 proteedrngs or
~ .through an attorney at saw, shall be paid by the Maker, and the same are hereby secured.
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N cn IN WITNESS WHEREOF, the Mortgagor has executed this Mortgage as of the date ?~rst above set forth.
r=- Sgned, sealed and delivered
in our pre e: ,y
ISEALI
k ~ ~ ~ (Mortgagor) -
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tT 1 _ t= ISEALI
1~ (Mortgagor j
j ~ ~ STATE OF Florida 1
111 ? i
I ~ ; " COUNTY OF St • Lucie 1 - .
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1 ~i~ 1 HEREBY CERTIFY, that on this day, before me, an officer duly;l~t}lprizyd in tht State aforesaii and in the County aforesaid
to take acknowled9ments,_personally appeared Wi1Tm F. WatsotL ~_.to me known to be the persondescr~bed
o, m and who executed the foregoing instrument and ~ • ~ ~ 1 l ~I~leAjp[f before me that he executed the same.
L~`r WITNESS my hand and oificral seal ~n the Count~tlrtd'~tats lasiti~esa~~ fps 10th day f Al1gU8t
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- I!!i oc ~catrON ~r
t •,~y Committrwn t COatMISS10N. ~Y ANY . Zi 19t1
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