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HomeMy WebLinkAbout0811 MORTGAGE . 462091 ~C ~ This Mortgage is made this 28 day of September 1979 ~ ~ya„~ betwer~i ~ater B-._ Enns and Lucille H. Erns, his wifeLand Bernhard B. Enns _ _ (•'Mortgagor"), and Vatenune Financial, Inc. ("Mottgsgre a Florida corporation, having an office in the City of_Ft . Lauderdale _Ctwnty of Broward ,State of Florida. W I T N E S S E T H: WHEREAS, Mortgagor is indebted to Mortgagee in the sum of-_$33td12.~Q---_ _ as evidenced by that certain promissory note of even date herewith, executed by Mortgagor and delivered to Mortgagee, a copy of which is attached hereto (the •'Note); NOW, THEREFORE to secure the performartoe by Mortgagor of all covenant. and conditions in the Nwe and in this Mortgage and in all other instru- menu securing the Note, and in order to charge tht properties, interests and rights hereinafter described with such payment and performance and to secure renewals and extensions thereof, and for and in consideration of the sum of Teu and no/100 Dollars (510.00?, Mortgagor dots hereby mortgage, sell, pledge acid assign to Mortgagee all of the laud in the Coumy oC Sty Lucie _ - - - - - - • titan of Florida, which is more particularly described as follow.: Lot 10, Block 164, LAKEWOOD PARK UNIT I2, as per plat thereof recorded in Plat Book 11, pages 26A and 26B of the Public Records of St. Lucie County, Florida. - _ _ • _ Z 3. Z 5 ae~.~ e , ttlRatw~~~~~~ y Dus On Clasa "C' ~ Iii. ~a gym' PRINCIPAL AMOUNT 15, 500.00 Pursuant To ChR(~R'Ofl~ INTEREST AMOUNT 18,012.40 pa, TOTAL AMOUNT 33,512.40 Clark Circuit Court. St. Luria. ~ ~ ET ~ R ~ TO . Prepared by Helen Edo 3876 W. Commercial Blvd. ~ PEOPLES ~ & T1Tl.E Ct?. Ft. Lauderdale, Fla. 33319 ~ 351 N. STATE ROAD 7 7 - _ _ FT (,l1UDER~ALE• F~ 33317. ~0 ^~l• r • 1 o have and to hold the same, together with all improvements and appurtenances thereto, and also all the estate, right, title, interest, homestead, right of ,tower, separate estate, property, possession and claim whatsoever of Mortgagor to the same in every part and panel thereof unto Mortgagee in fee simple t"Mortgaged Propcity"{. SUBJECT TO the following "Permitted Liens": None (Except a first for Indian River Federal Savings and Loan) I _ PROVIDED ALWAYS, that if Mortgagor shall pay to Mortgagee the Note at the times and in the manner stipulated therein, and in all other instru- ments securing the Note, including renewals, extensions or modifications thereof, and in this Mortgage and in all other instruments securing the Note, to be kept, performed or observed by Mortgagor, then this Mortgage shall cease and be void, but shall otherwise remain in full force and effect. ' Mortgagor covenants and agrees with Mortgagee as follows: i ~ 1. Compliance with Note and Mortgage; Waranty of Title. Mortgagor shall comply with all provisions of the Note, this Mortgage and of every other ~nururnent securing the Note, and will promptly pay to Mortgagee the principal with interest thereon and all other sums required to be paid by Mortgagor under tht Note and pursuant to the provisions of this Mortgage and of every other instrument securing the Note. Mortgagor is indefcasibh• seized of the ~lurtgaged Property in.fes simple and Mortgagor has lawful authority [o convey, mortgage and encumber the same as pro.ided by this Mortgage, and dues hereby so warrant. Payment of Taxes and Ixns. Mortgagor shall pay all the taxes, obligations and encumbrances of every nature now on the Mortgaged Property or !hat hereafter may be imposed upon this Mortgage or the htortgagrd Property or upon the indebtedness secured hereby, czcrpt that Permuted Liens ma> he discharged in accordance with their terms. All such payments to be made when due and payable according to law before they become deliqucnt and be (ore any interest attaches or any penalty is incurred. Insofar as any indebtedness is of record (except indebtedness giving rise to Permitted Liens) the game shall be promptly satisfied and evidence of such satisfaction shall be givrn to Mortgagee. 3. lowraoce. Mortgagor shall keep the Mortgaged Property and the improvements now existing or hereafter erected on the Alortgagcd Property insured as may be required from time to time by Mortgagee against loss by fire, other hazards and contingencies in wch amounts and for such periods as may be required by Mortgagee- Mortgagor shall pay promptly, when due, any premiums on such insurance. All insurance shall be carried with companies approved by Mortgagee and the policy and «newals thereof shall be held by Mortgagee and have attached thereto loss payable clauses in favor and in corm acceptable to Mortgagee. In the event of loss, Mortgagor shall give immediate notice by mail to Mortgagee and Mortgagee may make proof of loss if nut made promptly by Mortgagor. Each insurance company concerned is hereby authorized and directed to make payments for such loss directly to Mortgagee instead of either to Mortgagor or Mortgagor and Mortgagee jointly- Insurance proceeds or any part thereof may be applied by Mortgagee at its option, after deducting Therefrom all its expenses tncluding attorney's fees, either to the reduction of the indebtedness hereby secured or to the restoration ,r repair of the property damaged. Mortgagee is hereby authorized, at its option, to settle and compromise any claims, awards, damages, rights of action and proceeds, and any other payment or relief under any insurance policy. In the event of foreclosure of this Mortgage or other transfer of title to the titortgaged Property in extinguishment of the indebtedness secured hereby, all right, title, and interest of Mortgagor in and to any insuratrce policies then in force shall pass to the purchaser or grantee. Mortgagee may at its option require Mortgagor to deposit with Mortgagee on the first day of each month, ~n addition to making payrntnts of principal and interest, until the Nore is fully paid, an amount equal to one-twelfth (1/12) of the yearly premiums for all insurance. Such deposits shall not be, nor be deemed to be, trust fnrids, but may be commingled with the general funds of Mortgagee, and no interest shall x} be payable in respect thereof. Upon demand by Mortgagee, Mortgagor shall deliver to Mortgages such additional monies as are necessary to make up any deficiencies in the amounts necessary to enable Mortgages to pay such premiums when due. In the event of default under any of the terms, covenants and ~ conditions in the Note, this Mortgage or any other instrument securing the Note to be performed or observed by Mortgagor, Mortgages may apply to the reduction of the Burns secured hereby, in such manner as Mortgages shall determine, any amount under this paragraph remaining to Mortgagor's credit and any return premium received from cancellation of any insurance policy by Mortgagee upon foreclosure of this Mortgage. 4. Condetntntlon. If the Mortgageed Property or any part thereof shall be damaged or taken through condemnation (which term when used herein - shall include any damage or taking by any governmental authority or any other authority authorized by the laws of the State of Florida or the United ~"r States of Artrerica to so damage or take, and any transfer by private Bak in lieu thereof), either Iemporanly or permanently, the entire indcbtedrress and other sterns secured hereby shall, at the option of Mortgagee, become immediately due and payable. Mortgages shall be entitled to all compensation awards, damages, claims, rights of action and proceeds of, or on account of any damage or taking through condemnation and is hereby authorized, at its option, to commence, appear in and prosecute, in its own or Mortgagor's turrie,,any action or procesding relating to any condemnation, and to settle or ~ compromise any claim in connection therewith. All such compensation awards, damages, claims, rights of action and proceeds, and any other payments or relic(, and the right thereto, are hereby assigned by Mortgagor to Mortgagee and Mortgagee after deducting therefrom all its expenses including attorney's fees may release any monies so received by it without affecting the lien of this Mortgage or may apply the same, in such manner as Mortgages shall dcter- mirte, to the reduction of the sums secured hereby and to any prepayment charge pravrded in the Note, this Mortgage or any other instrument secunng the 'Vote. Any balance of such monies then remaining shall be paid to Mortgagor. Mortgagor agress to execute such further assignrnrnts or any compensa- Lions, awards, damages, clairru, rights of action and proceeds u Mortgages may require. 5. Can o/ Morlgaged Properly. Mortgagor shall not remove or demolish any building or other property forming a part of the Mortgaged Property without the written consent of Mortgages. Mortgagor shall not permit, commit, or suffer any waste, impairment or deterioration of the Mortgaged Prop- e:t or an rt thereof, and shall k the same and im rovemcnts thereon in cod condition and repair. Mort or shall notif Mort g Y Y Pa esP P g gaB Y gages in writin within five (S) days of any damage, or impairment of the Mortgaged Property. Mortgagee may, at Mortgagee's discretion, have the Mortgaged Property - inspected at any time and Mortgagor shall pay all costs incurred by Mortgages in executing such inspection.