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Home My WebLink About0888 MORTGAGE 46139 1 This Mtorrgage is made this 28 day of__ Se~telAber _ I9 79 tiyr ~ltd`betwcen Leb '~t~~res and _Lillie May Hammes, his wife, , _____y__~______ .____._______("Mortgagor"). and Valentina financial, Inc. (''Mortgagee"1. also known as Millie Ma Ha es a Florida corporation, having an officY in the City of Ft. Lauderdale ,coumy or_ _Broward___ State of Florida. W I T N E S S E T H WHEREAS, Mortgagor is indebted to Mortgagee in tbe sum of.__ ~4~.4aL~-_ - 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 performance by Mortgagor of all covenanu and conditions in the Note and in this Mortgage and in all other instru- ments securing the Note, and in order to charge the properties, interests and rights hrretnafter deuribed with such payment and performance and to secure renewals and extensions thereof, and for atxl in consideration of the sum of Ten and no/100 Dollars (510.001, Mortgagor does hereby mortgage, sell, pledge and auign to Mortgagee all of the land in the County uf__ St_. __LuCit'- _COUnty _ . _ _ , Start of Florida, which is more particularly described as follows: The east 78' of a portion of Lot 21, MARAVILLA GARDENS, Unit 6`1, as per plat thereof recorded in Plat Book 6, page 55, of the Pt~~~~c~Reegrds of St. Lucie County, Florida, lying west of a line perpendicular to the south line~a~ a point 791.03 feet East of the original SW corner of said Lot 21. _ , = .t. rayntent OtT~ ~ 1 - ~ ^ fir` _:uas C ,ntangtDle PeeiOf101 PhOpN'lY. ~ ~'urttua~t To Chapter 71, 134, ANA pf 1x71. PRINCIPAL AMOUNT 9, 000.00 ClKlc ~k ~ PIOfiRA~ ~ / INTEREST AMOUNT 10, 459.20 Lt101R 00. H~. T~TRETURN .~;459.2U P~~PLE'S TRUST & TITLE CO. Prepared by Helen Edo 3876 W. Commercial Blvd. 351 N. STATE ROAD 7 Ft. Lauderdale, Fla. 33319 FT LAUDERDALE, FLA. 33317 fo have and to hold the same, together with all improvements and appurtenances thereto, and also all the state, right, title, interest, homestead, right of ~owcr, separate estate, property, possession and claim whatsoever of Mortgagor to the same in every part and parcel thereof unto Mortgagee in fee simple l"Mortgaged Property"?. SUBJECT TO the following "Permitted Liens": None (Except a first with Lomas 6 Nettleton Co.) PROVIDED ALWAYS, that if Mortgagor shall pay to Mortgagee the Nute at the times and in the manner stipulated therein, and in all other instru- menu securing the Note, including renewals, extensions ur modificauuns thrreuf, and in this ~+,ortgage and in all other instruments securing the Nute, to he kept, performed or observed by Mortgagor, then this Mortgage shall cease and be said, but shall otherwise remain in full force and effeca. t = Mortgagor covenants and agrees with Mortgagee as follows: 1. Compliaace w~ilA tiote and Mortgrtge; R'annty of Titk. Mortgagor shall comply' with all provisions of the Note, this Mortgage and of rsery other :nstrument securing the Note, and will promptly pay to Mortgagee the pnncipal with interest therrnn and all other sums regwrcd to be paid by Mortgagor E under the Note and pursuant to the provisions of this Martgagr and of every other instrument securing the Note. !Mortgagor is indefeasibly seized of the \turtgaged PropMy in fee simple and Mortgagor has lawful authority to consey, mortgage and encumber the same as pro.idcd by this Mortgage, and dots hereby so warrant. 2. Paymest of Toes and Lkr?s. Aortgagor shall pay all the taxes, obligations and encumbrances of entry nature now on she Mortgaged Property or s that hereafter may be imposed upon this Mortgage or the Mortgaged Property or upon the indebtedness secured hereby, except that Permitted Liens may be discharged in accordance with their arms. All such payments to be made when due and payable ac:ording to law before they become deliquent and hfore any interest attaches or any penalty is incurred. Insofar as any indebtedness is of record (except indebtedness giving rise to Permitted Liens) the same shall be promptly satisfied and es•idence of such satisfaction shall be given to Mortgagce. 3. Insuratrtn. Mortgagor shall keep the Mortgagcd_Properq• and the improvements now existing or hereafter erected on the Mortgaged Property insured as may be required from time to time by Mortgagee against loss by fire, other hazards and contingencies in such amounts and fur wch 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 renewals thereof shall be held by Mortgagee and have attached thereto loss payable clauses in favor and in form 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 not made promptly by Mortgagor. Each insurance company' concerned is hereby authorized and directed to make payments for such loss directly' to Mortgagee instead of ether to Mortgagor or Mortgagor and Mortgagee jointly. Insurartce proceeds or any part thereof may be applied by Mortgagee at its option, after deducting therefrom all its expenses including attorney's fees, either to the reducuon of the indebtedness hereby secured or to the restoration or 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 Mortgaged Property in extinguishment of the indebtedness secured hereby, all right, title, and interest of Mortgagor to and to any insurance 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, ~ m addition to making payments of principal acrd interest, until the Note is fully paid, an amount cyual to one-twelfth (ili2) of the yearly premiums for all insurance. Such deposits shall not be, nor be deemed to be, trust funds, but may be commingled with the general funds of Mortgagee, and no interest shall be payable in respect thereof. Upon demand by Mortgagee, Mortgagor shall deliver to Mortgagee such additional monies as are necessary to make up any ~ deficieticies in the amounts necessary to enable Mortgagee to pay such premiums when due. In the event of default under any of the terms, covenants and runditiotis in the Note, this Mortgage or any other instrument securing the Note to be performed or observed by Mortgagor, Mortgagee may apply to the ' reduction of the sums secured hereby, in such manner as Mortgagee 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. A. Condeorutiw. If the Mortgagetd 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 ~ States of America to so damage or take, and any transfer by private sale in lice thereon, either temporarily or permanently, the entire indebtedness and ~lfier sums secured hereby shall, at the option of Mortgagee, become immediately due and payable. Mortgagee shall be entitled to all comptttsation ~ 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 name, any action or proceeding relating to any condemnation, and to settk or compromise any claim in connection therewith. All such compensation awards, damages, claims, rights of action and proceeds, and any other payments or relief, and the ri ht thereto, are hereb assi ned b Mort or to Mort ec and Mort ee abet deductin therefrom all its ex nses iricludin attorney's S Y B Y BaB BaB gag B Dc 8 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 Mortgagee shall dcter- mine, to the reduction of the sums secured hereby and to any prepayment charge provided in the Note, this Mortgage or any other instrument securing tbe ti~~te. Any balance of such monies then remaining shall be pored to Mortgagor. Mortgagor agrees to execute such further assignments or any compcrisa- tiuns, awards, damages, claims, rights of action and proceeds as Mortgagee may require. S. Csre of Mortgaged Property. Mortgagor shall not remove or demolish any building or other property forming a part of the Mortgaged Property without the written consent of Mortgagee. Mortgagor shall not permh, commit, or suffer any waste, impartment cr deterioration of the Mortgaged Prop- , erty or any part thereof, and shall keep the same and improvements thereon in good condition and repair. Mortgagor shali_ notify Mortgagee in writing within five (S) days of any damage, or impairment of tbe Mortgaged Property. Mortgagee may, at Mortgagee's discretion, have the Mortgaged Prop.-rty ' inspected at any time and Mortgagor shall pay all costs incurred by Mortgagee in executing such inspecthion-A) _