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HomeMy WebLinkAbout1757 DIRECT HOME IMPROVEMENT WITH FUTURE ADVANCE MORTGAGE 456914 THIS MORTGAGE, made this 29th day of August , A.D., 19 79 ,between' ; Robert A. Morgan joined by Shirley E. Morgan his wife IMortgagor? and Sun Bank of St. Lucie County IMortgage.?: (Name o1 Sun Bank( t WITNESSETH, that Mortgagor, for and in consderation of the premises and in order to secure the paymenC of tM principal and ' interest on the note Ias hereinafter detinedl, Mortgsgor hereby grants, assigns transfers and mortgages to Mortgages, its suaessors and assigns lorevfr, the folbwing described real property in St. Lucie County, Fbrida, to wit: Begin at the NN corner of Outlot 2, of plat of WHITE CITY SUBDIVISION, as recorded in Plat Book 1, page 23, of the public records of St. Lucie County, Florida, run thence South along the East Right-of-Way line of Elm Avenue, 472 feet to Point of Beginning: Thence East 260 feet thence South O degrees 17.5 minutes West, 188 feet, more or less to the South line of said Outlot 2t thence West, along the South line of said Outlot 2, 260 feet, more or less to the SW corner of said Outlot 2~ thence North, along the West line of Outlot 2 (East line of Elm Avenue) 188 feet, more or less to the Point of Beginning. ' 456914 nf~ttea: ~ T '.rn«?t a ado.. I9T9 AUK 30 PM 12= 40 oln caa Nc~ MwlptbN~soans(PropaMt~?, Pwfluatnt To Claplao 7t.1~4. AaM Of 1~T1. ~T~iuc~ p~p(~°Y~tw. po~Ett parn~s 9 R06 cPO(TRAS C1s~k Circuit Covet St.1~. Co.. FIB, CLERK IRCU(T COUt^~T~" THIS IS A SECOND MORTGAGE RECORD ~RIFI€~~w . (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 cla+tts of all persons whomsoever. ~ _ Robert A. Morgan joined by Shirley E. Morgan, ~w~~e ~ROVtfla:©-wtwA~s,-,r,et-;1- - ----------r: er ~t-trWt_.. (Insert Namelsll their g pay to Mortgagee O ~ certain promissory note dated the date hereof (the Notel, heirs, legal representatives or asst ns shall 1 1 l I the principal sum of g 5, 248.26 ~ ev,denced by the Note, with interest and upon the terms as provided therein, the finer J` ~ maturity date of the Note and of this Mortgage being August 28 , 19 84 ,which Note provides that ~~w~;.3 all installments of principal and interest are payable at the office of Mortgagee, or at wch other place as the holder may designate in ~_,r~e44~' ~ 1 writing, and that each maker and endorser agree to pay all costs of collection, including a reasonable attorney's fee, upon default in the ',<41~ ~ j payment of the Note, and that it default be made in the payment of any instalment thereunder and that if wch default is not made ~r Ii good in accordance with the terms of the Note, that the entire principal vein and accrued, earned interest shalt become due and payable 4 ~ without notice at the option of the holder thereof; and shall perform and comply with each and every stipulation, agreement and cov- - » errant of the Note and of this Mortgage, then this Mortgage and the estate hereby created shall be void, 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- f 5:; 1(I( ments on said property; to carry insurance against fire on the building on card land for not less than S n~`; ,approved m . by the Mortgagee, with standard mortgage bss clause payable to Mortgagee, the policy to be held~y the Mortgagee and to keep the i . building on said land in proper repair. iiri~, This Mortgage shall secure not only existing indebtedness, but also wch future advances, whether wch advances are obligatory or 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 G ~ if wch future advances were made on the date of the execution of this Mortgage, but wch secured indebtedness shall rwt exceed at any O, U' time the maximum principal amount of $ n/a plus interest, and any disbursements made for the payment y ~ of taxes, levies, or inwrance, on the Mortgaged Property, with interest on wch disbursements. Any wch future advances, whether "1 i 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 ~ I any other notes secured by this Mortgage. This Mortgage K given for the specific purpose of securing any and all indebtedness by the gages (but in no event shall the secerred indebtedness exceed at any time the maximum principal amount set forth n this 1 ; ~ Maker to Mort y ~ paragraph) in whatever manner this indebtedness may be evdenced or represented, until this Mortgage is satisfied of record. All cove- _ : ~ i Hants arxf agreements contained in this Mortgage shad be appiMable to ail further advances made by Mortgagee to Maker under this ~ future advance clause. ~ C ~I O I Should any of the above covenants be broken then the Note and all moneys secured hereby shall, without demand, it the G~ ~ Mortgagee, so elect, aj~nce become due and payable and this mortgage may be foreclosed, and all costs and expenses of collection and ~f b' reasonable attorneys' ees, including costs, expenses and reasonable attorneys' fees on appeal, if collected by legal proceedings or ~ I through an attorney at law, shall be pad by the Maker, anrf the same are hereby secured. ~ G~ i - ~ ' IN WITNESS WHEREOF, the Mortgagor has executed this Mortgage as of the date first above set forth. V7 ~ - ~ Sgnerf, sealed and delivered m our pr .ce: ( - ? O> (SEAL) i CJ (Mort r) # F O ALI (Mortgagor) STATE OF Florida 1 ` St. Lucie 1 . {i COUNTY OF 1 ,t, ~ ~-t 1 HEREBY CERTIFY, that on this day, before ArY~lrl~Itll~ht~gpmaraW in the State aforesad and in the County afaresad to take acknowledgments, personally appeared eY E• MO~igf~lcnown to be the person described n• and who executed the foregoing mzrrument and x ~ ~ ~~radcledged before me that they executed the same. WITNESS my hand and official seal in fhe Coui?j* arid'~f to Irn a rtihis 29 day of Au St , - •S~ / i y ~ t ~ ~ 8~3~.5 P~~754 ~ ~ ~sion larpiies: ~ ` - - . 4801-000.7 Rev. B/77 t, t / t}~ri+ `stui.w'~?. iii:s w~%~'icGA•:~8 j E.a~r..er~.ew