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HomeMy WebLinkAbout1762 DIRECT HOME IMPROVEMENT MORTGAGE 4664.34 V O ~ O J d ~ ~ WITH FUTURE ADVANCE 15 November 79 THIS MORTGAGE, made this day of A.D., 19 ,between' Phillip Michael Bowers and Paula A. Bowers, his_ wife (Mortgagor) and Sun Bank of St. Lucie County (Mortgagee?: lNameoi Sun Bankl WITNESSETH, that Mortgagor, for and rn consideration of the premises and in order to secure the payment of the prrncrpal and rnterest on the note las hereinafter defined), Mortgagor hereby grants, assrgns transfers and mortgages to Mortgagee, its successors and assrgns forever, the following described real property rn St. Lucie County, Florida, to wrt_ Beginning at the Northwest corner of Lot 99, of White City as per plat thereof on file in Plat Book 1, page 23, of the Public Records of St. Lucie County, Florida, run South 530 feet to a point; turn and run east 293.5 feet for point of beginning; from said point of beginning continue East 126 feet to a point; thence turn and run South 130 feet to a point; thence turn and run West 126 feet to a point; thence turn and run North 130 feet to the point of .beginning, less and except the East 6 feet thereof said land being also described as Lot 11 and 12 of an unrecorded plat of Midway Groves Subdivision, lying and being a part of Lot 99 of White City;'less and except the East 6 feet of said Lot 11 of unrecorded plat of Midway Groves Subdivision. Together with right of egress and ingress to lot over and across the following described Street, to-wit: Beginning at the Northwest corner of Lot 99 of White City, as per plat thereof on file in Plat Book 1, page 23 of the Public Records of St. Lucie County, Florida run South 480 feet to a point; thence turn and run East 25 ~ ~ feet for point of beginning; from said point of beginning continue East 394.5 feet ~ h to a point; thence turn and run South 50 feet to a point; thence turn and run West ; ~ a ~ 394.5 feet to a point; thence turn and run North 50 feet to the point of beginning. ° 5 a~ This easement shall be in common with the Public in General. ~ ~ ~ ~ ~ THIS IS A SECOND MORTGAGE _ g'~~ C n W .H Iherernafter referred to as the Mortgaged Property): and the Mortgagor does hereby fully warrant the true to the Mortgaged Property y, and wrrl defend the same against the lawful claims of all persons whomsoever. D V ~ ~ p3p PROVIDED ALWAYS, that rt Phillip Michael and Paula A. Bowers ,the Makerls) of that ~ V U (Insert Nametsll o r their m ~ t^ ~ certain promissory note dated the date hereof (the Notel, Heirs, legal representauvees or assrgns shall pay to Mortgagee C Q V the prrncrpal sum of 5 5, 222' 22 as evidenced by the Note, with interest aril upon the terms as provided therein, the final 0 ~ ~ O ~ ~ L maturity date of the Note and of this Mortgage being November 16 19 8 ,which Note provides that ~ ~ f1 ~ all installments of principal and interest are payable at the office of Mortgagee, or at wch 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 wch default is not made good in accordance with the terms of the Note, that thrflentrre pnnapal win and accrued, earned rnterest shall become due aril payable without notice at the option of the holder thereof; and shall perform and comply with each and every stipulation, agreement and cov- enant of the Note and of this Mortgage, then this Mortgage artd 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- ments on said property: to carry insurance against fire on the building on card land for not less than $ n~a ,approved by the Mortgagee, with standard mortgage toss clause payable to Mortgagee, the policy to be held by the Mortgagee and to keep the building on card )arid in prope• repau. 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 IZ01 years from the date hereof, to the same extent as I if such future advances were made on the date of the execution of this Mortgage, ttut such secured indebtedness shat) not exceed at any _ _ O time the maximum principal arr,ount of S _ n~a plus rnterest, and any disbursements made for the payment E = Vi of taxes, levies, or insurance, on the Mortgaged Property, with interest on wch dabursemems. Any such future advances, whether if v~ obligatory 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 any other notes secured by this Mortgage. Thrs Mortgage rs given for the specific purpose of securing any aril all indebtedness by the _ ~I Maker to Mortgagee (but in no event shat) the secured indebtedness exceed at any time the maximum principal amount sat forth rn this paragraph) rn whatever manner this indebtedness may be evidenced or represented, until this Mortgage rs Satisfied of record. All cove- Hants and agreements contained in this Mortgage shall be applicable to all further advances made by Mortgagee to Maker under this = future advance clause. r ~i O w v O; Should any of the above covenants be bro~en then the Note and all moneys secured hereby shall, without demarxf, if the ` O xi Mortgagee, so elect, at once become due ancf payable and this mortgage may be foreclosed, and all costs and expenses of collection and _ reasonable attorneys' fees, including costs, expenses and reasonable attorneys' fees on appeal, if collected by legal proceedings or through an attorney at taw, shall be paid by the Maker, and the same are hereby secwed. r f~l i - - IN WITNESS WHEREOF, the Mortgagor has executed this Mortgage as of the date iris above set forth. ~ to ~ ~ ~1i~11~~G ~~ys~Glit _ ~ $,yned sealed and delrverecf - rn r presence r _ ISEAL) a - - I~ i. r P:1 M _ oil - ii ~FTL~~R~~' ~tl'i..t ISEAL) • ,S ~ ~ ST. LUCIE CG' ~Ni Y. f, (Mortgagor l ~ ROGER FGti:a.5 t ~ : STaTE OF Florida CyEnX CI~CU:- ~-I t O • ~ COUNTV OF R~:^ ~ . r~,~,~- St. Lucie 'r i~ I HEREBY CERTIFY, that on this day, before me, an officer duly awhonred m [he Srare aforesarci and in the County aforesaid r~ to take acknowledgments, Aersonauy appeared Phllhp M1Chael & Paula A. $B~e~C~own to be the person described m and who executed the foregoing ,nstrumenj ate.. they atknowledycd before me that they executed the same. i ' WITNESS my hand and offrc,al~a1•in-the Gounty and State last ore id this , 16th da of November A D., 19 79 - - 7 Notary Pubhc 3~~ PAGE M1~y Commssion Expires ` ~'~32~0 1759 NO?ARY t•IJ~tK STA1E a aaIIDA At wp 0-6014-000.7 Rev. 8f77 MT COMMISSION EJ(?IRiS MAY. I? 1982 t.. ~ r Kd'10f0 If~. l~EllYftlTL!!