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HomeMy WebLinkAbout1007 - DIRECT HOME IMPROVEMENT WITH FUTURE ADVANCE MORTGAGE 4s~~48 y i THIS MORTGAGE, made this 24 dsv of ~t1QuElt A.O., 19 ,between ~ Henry G. Dunn and Darlene B. Dunn hie wife (Mortgagor) and E Sun Hank of St. Luc a County (Mortgage.l: - lName of 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 Ias hereinafter de(inedl, Mortgagor hereby grants, assigns tiansfers and mortgages to Mortgagee, its successors and suigns forever, tM following descrbed real property in Sty T.tt _i g County, Fbrda, to wit: ~ The West 171 feet of the W~ of the SW~ of STATE FLt~ RI D A ~ ' the SW~ of the N8~ of Section 14, Township DOCUMENTARY;.-;~_STAMP TA_X_ ~ ~ 35 South, Range 39 East, LESS th@ W@St lO DEPf.OF REVENUE feet and LESS the South 90 feet for roads + Pa ~ ~:t6211•lg ' ~ Q 8, 4 5 ~ and canal right-of-ways, containing 2.25 ~ niat ~.~..:,f ~ acres, more or less. ~ ~9~9 A~.'~~ 28 Ali 39 ftEf~1YE9 sue'" P~ ~ c~~ ~)~E r1EC u on>: o" cuss ~ MYllIt91811: P~asnlla 1~ ~ ; s~t~~~~~ Fnasnrai To ~w?~T~~ ~~~s of »r.. CI.Ei~ T q~ COtl~t ST. INS 4F~ REC~RO VERtitEO 4484 (hereinafter referred to as the Mortgaged Propertyl; and the Mortgagor does hereby fully warrant the title to the Mortgaged Property and will defend the same against the lawful clams of all persons whomsoever. PROVIDED ALWAYS, that if G- Dtlriri grid Darlene E. D1inri ,the Makerfsl of that Ilnsert Namelsl) certain promissory note dated the date hereof (the Notel,thelr hercs, legal representatives or assigns shall pay to Mortgagee the principal wm of s 6 , 264.92 ~ 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 8-2 3- , 19 84 ,which Note provides that all installments of principal and interest are payable et the office of Mortgagee, or st such other place as the holder may 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 wm and atx:rued, ~rned interest shall became due and payabb without notice at the option of the hokder thereof; and shall perform and comply with each and every stipulatan, agreement and cov- enant of the Note and of this Mortgage,-then this Mortgage and ifie estbte herigiy createxd shall Ge vbd,-btttervirise-ttb-same remanti- in full force. Maker covenants to pay the interest and principal promptly when due. Mortgagor covenants to pay the taxes and assess- I ments on said property; to carry inwrance against fKe on the building on said lartd for not less than S n/a ,approved by the Mortgagee, with standard mortgage bss clause payable to Mortgagee, the policy to be held by the Mortgagee and to keep the building on said land in proper repair. ~ _ E This Mortgage shall secure not only-existing indebtedness, but atsn such f-uture 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 { if such future advances were made on the date of the execution of this Mortgage, but wch secured indebtedness shall not exceed at any I time the maximum princ~al amount of s - n~a plus interest, and any disbursements made for the payment ` p ~ I of taxes, levies, or inwrance, on the MortgagedProperty,-with_interest on such disbursements. Any wch tuiure advances, whether } T obligatory or to be made at the option of the Mortgagee, or otherwise, maybe made eithgr prat to or after the due date of the Note or € Q any other notes severed by this Mortgage. This Mortgage is given for the specific purpose of securing any ar?d all fnde8ttdness_by the i Maker to Mortgagee (but in no event shall the secured indebtedness exceed at any time the maximum principal amount set forth in thK- - ~ paragraph) in whatever manner this indebtedness may be evidenced or represented, until this Mortgage is satisfied of record. All cove- c~n nants and agreements contained in this Mortgage shall be applicable to all further advances made by Mortgagee to Maker under this ~ ~y future advance clause. z Should any of the above covenants be broken then the Note and all moneys secured hereby shall, without demand, if 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 coats, expenses and reasonable attorneys' fees on appeal, if collected by legal proceedings or through an attorney at lour, shall be paid by the Maker, and the same are hereby secured. z ' v IN WITNESS WHEREOF, the Mortgagor has executed this Mortgage as of the date first above set forth. :n - ! Sgrted, sealed and delivered in our pre nce: r (SEAL) . n G. ~t rl - _ ~ i Darlene t~°`t~unn STATE OF Florida ? . ` ~ ~y ~ 1 r: ~ y -.a COUNTY OF St. Lucie ? 1 HEREBY CERTIFY, that on this day, before t[t~pri=ed in tAe~State aforesad and in the County aforesaid •'1, to take acknowledgments, personally appeared _ D to me known to be the person described in and who executed the foregoing instrument and. ' before me that (belt executed the same. WITN~yS,~S my hand and official seal in thg - , t~ f L 24 day of AuC~Llst 1 V , t, o p ~ ~ lout AA1E a slaiol+? ~ w~a~ 8o°x315 P~E~.005 ~ ; ~ ~ Efror'iw? a,., n!?r ualwussr~ai Elvuns oec • ~ w>tiz s a-&o14-OOf~7Rev.s/77 °e _ ~ .~.....~.»>~.n..