HomeMy WebLinkAbout1368 ~ MORTGAGEE:
MORTOAtiE DEED .456'716 ~
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LUC~E described real estate in the County of
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a
tts~bar~ns, ssygns. and oonreyt unto Mortgagee, ,
• ,State of Florida; to wit. ~
Lot 11, lees the West 10 feet Block 3, Prosperity Park
according to the plat thereof, as recorded in Plat Book 7,
Page 55, of the Public Records of St. Lucie County.
STA
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DOCUMENTARY.~`~~•`~STA~?~` ~
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Pi~i REVENUE „ O '
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DIlE 011 C1ASS 'C It1TAtlliltiLE PEStIIiAI PJIpPERiYs
FU>:SIIi1NT TO iUiPTE3 71-1?4. ACfi Of
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I~ tr:is instrtusent nreprxc-,~ by Stev$ 3~cGi31 202 S. Feder^3 NWy, Ft,_ Pierced Fl.
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together with all buildings and improvements now or hereafter erected thereon and all screens, shades, storm sash and blinds, and heating, lighting, pltr`.tbiug,
f gas, electric, ventilating, re(tigenting and air-conditioning equipment used in conrrectan therewith, all of which, for the purpose of this mortgage, shall be
1 deemed ~¦t~res~Zn.t thiect to the Tien hereof,_and the hereditamenls and appurtenances pe~t~iinbg to~e~t4pe~iy above_~escribed all c+f *+hkh is referred to-_
hereinafter u the "premises"
TO HAVE AND TO HOLD said land and premises. with all the rights, privileges and appurtenances thereto belonging, unto mortgagee and his heirs, executon,
administrators, wccessors and assigns. forever.
f Mortgagor also assigns to Mortgagee all rents. issues and pro[its of said premises, reserving the right to collect and use the same, with or without taking
r posession of -the premises, during continuance of default hereunder, and during continuance of wch default authorizing Mortgagee to toter upon saW pra=rnises----
and,'or collect and enforce the same without regard to adeyuacy of any security for the indebtedness hereby secured by art' lawful mwts including
appointment of a receiver in the name of any putt' hereto, and to apply the same less costs and expenses of operation and collection, including reasonable
attorney's feet, upon any indebtedne:s secured hereby. in wch order u Mortgagee may determine.
FOK THE PURPOSE OF SECURING: (1) Performance of each agreement of Mortgagor contained herein; (2) Payment of the principal wm of
3 i 5~929.fi9 with interest, as provided in accordance wiW the terms and provisions of a Promissory Note/Loan Agreement (hereinafter referred to ss
"Promissory Note's dated ~.3-'~ ,maturity date4~~-~7 ,and payable to the order of Mortgagee,
to which Promissory Note reference is hereby made; (3) Payment of any additional advances, not in a principal wm in excess of S wiW
interest thereon, as may hereafter be loaned by Mortgagee or the then holder of his Mortgage to Mortgagor, each and every advance to be evidenced by the
Prorissory Note of Mortgagor in the amount of the adrance; (4) The payment of any money that may be advanced by the Mortgagee to Mortgagor for any
reason or to third gcties where the amounts are advanced to protect the security or in accordance with the covenants of this Mortgage.
AU payments made by Mortgagor on the obligation secured by this Mortgage shall be m the following order:
FIRST: To the payment of taxes and assessrrsertts that may be levied and assessed Est said premises, insurance premiums, regain. and all other charges
and expenses agreed to be paid by the Mortgagor.
SECOND: To the payrceat of interest due on said ban.
THIRD: To the gyment of ,principal.
TO PROTECT THE SECURITY HEREOF, MORTGAGOR COVENANTS AND AGREES: (I)To keep said premises inwred against fire and such other
casualties u the Mortgagee may specify, up to the full value of all improvements for the protection of Mortgagee in such manner, in wch amounts, and in wch
companies as Mortgagee may Gom time to time approve, and to keep the policies therefor, properly endorsed, on deposit with Mortgagee, and that loss
proceeds (less expenses of collection) stall, at Mortgagee i option, be applied on sad indebtedness, whether due or not or to the restoration of sad
tmprovements. In event of bss Mortgagor will give immediate notice by mail to the mortgagee who may make proof of loss it not made promptly by
~lortgagot, and each inwrance rnmpany concerned is hereby authorized and directed to make payment for such loss duectly to Mortgagee instead of i
)tortgagor. (2) To pay all taxes and special assessments of any kind that have been or may be levied or assessed upon said premises, or any put thereof. (3) In
~ the event of default by Mortgagor under Paragraphs 1 or 2 :hove, Mortgagee, at its option (whether elrcting to declare the whole indebtedness secured hereby
due and oolkctibk of not), may (a) effect the inwrance above provided for and pay the reasonable premiums and charges therefor. (b) pay all said taxes and
` assessments vrittwut determining the validity thereof, and (c) pay wch liens and all wch disbursements shall be deemed a part of the indebtedness secured by I
this Mortgage and shall be immediately due and payable by Mortgagor to Mortgagee. (4) To keep the buildings and other improvements now or hereafter
erected in good condition and repair, not to commit or wffer any waste or any use of said premises contrary to restriction or record or contrary to taws,
ordinances or regubtions of proper public aathority, and to permit Mortga®ee to eater at a0 reasotubk times for the purpose of inspecting the premises, not
to remove o[ demolish any building tlteceoa• to complete within Oae Hundred Eighty (180) Days or restore promptly and in a good and workmanlike manner
~»y btrildiag which may be conswcted, damaged or destroyed thereon and to pay, when doe. all clarrns for labor pertormcd and material furnished therefor.
151 That the time of gyment of the indebtedness hereby secured, or of srry portion thereof, may be extended or renewed sod any portions of the premises
herein described may, without notice, be released from the lien hereof, without releasing or affecting the personal liability of any person or corporatan for the
~ payment of said itdebtedness or the lien of this instrument upon the remainder of said premises for the full amount of said indebtedness then rcmainirtg
unpaid, and no change in the ownership of said premises shill release, reduce or otherwise affect any wch personal liability on the lien hereby created. (6)
That he is seized o[ the premises in fee simple and has good and lawful right to convey ttte ssme; and that rte does hereby forcret wamnt and will forever
defend the title and possession thereof against the lawful claims of any and all persons whatsoever.
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