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HomeMy WebLinkAbout1893 f i i a USDA-FmHA ~ Posjtion S . , , . ST-40,839 ~ / Form FmHA 427-1 FL Th! torm of this instrup:~t iras dran~d by tlr+office of th! I (Rev. 2-15-78) General Counsel of thi United states Department of Agr,cul- 4'Fi6539 furl, Washington, D. C., and th! materiel in the blank spaces in the form was infested by w under th! direction of • Abstract & Title (corporation of Florida _ (Nam!) P.O. HDx 3696, Ft. Pierce, Florida 33450 (Address) REAL ESTATE MORTGAGE FOR FLORIDA THIS MORTGAGE is made and entered into by IiDbert G. Neill and Dorene S. Neill) his wife residing in St. Lucie -County ,Florida, whose post office address is 814 Iiarttoan ADad, Ft. Pierce ,Florida 33450 , the mortgagor(s), herein celled "Borrower," and the United States of America, acing through the Farmers Home Admin- istration, United States Department of Agriculture, the mortgagee, whose principal office is looted in Washington, D. C.; herein called the "Government," and: WHEREAS Borrower is justly indebted to the Government as evidenced by one or more certain promissory note(s) or assumption agreement(s), herein called "Wort," which has been a:ecuted by Borrower, is payable to the order of the Government, authorizes acceleration of the entire indebtedness at the oprion of the Government upon any default by Borrower, and is described as follows: Amtual Rdte Due Date of.Final Qate of Instrument Priffcipd! Amount o Interest Installment ~ NDVetnber 16, 1979 S75,000.00 9 1/2~ Nnvember 16, 1984 i j Received • ~jt,ar In Psyment Of TauN ~ Ogle On Class "C' intaftflible Persona)orop+~, a pursuant To Chapter 71.134, Acts Off 97~. ROGER POITRAS ~ ~'lerS Circuit Court, St. Lucia, CO., Fla. 1 And the note evidences a loan to Borrower, and the Government, at any time, may assign the note and insure the payment thereof pursuant to the Consolidated Farm and Rurai Development Act, or Title V of the Housing Act of 1949; And it is the purpose and intent of this instrument that, among other things, at all times when the note is held by the Government, or in the event the Government should auign this instrument without insurance of the note, this instrument shall secure payment of the note; but when the note is held by an insured holder, this instrument shall not secure payment of the note or attach to the debt evidenced thereby, but as to the note and such debt shall constitute an indemnity mortgage to I secure the Government against loss under its insurance contract by reason of any default by Borrower: _ And this instrument also secures Euturc advances made within twenty {20) years from date hereof to anyone herein called Borrower when evidenced by a note nr notes covering loans made or insured under Subtitle A of the Consolidated Farm and Rural Development Act or Title V of the Housing Act of 1949, provided the total principal indebtedness of the i - original and Future loaA~ shall not exceed f _75 r0~ ~ ~ ' ~ - ,subject "to the same terms and condition regarding - ; the assignment of said notes hereinabove provided and all references in this instrument to the "note" shalLbe deemed to > include future notes. ~ - ~ - - ( Nn1l~, THEREFORE, in consideration of the loan(s) and {a) at all times when the note is held by the ©overnment, or in the c~•ent the Government'should assign.this instrument arithoutansuranct of the payment of the note, to secure prompt payment of the note and any renewals and extensions thereof and any agreements contained therein, including any provision for the payment of an insurance or other chuge, (b) at all times when the note is held" by an insured holder, to secure performance of Borcower's agreement herein to indemnify and save harmless the Government against loss under its insurance contract by reuon of any- default by Borrower, and (c) in any event and at all times to secure the prompt payment of all advances and expenditures made by the Government, with interest, as hereinaftei described, and~he performance of every covenant and agreement of Borrower contained herein or in any supplementary agreement, Borrower does hereby grant, r bargain, sell, convey, mortgage, auign and forever warrant unto the Government the following property situated in the State ~ of Florida, County(ies) of St. Lucie B~~K~ PlCE~~ FmHA427-1 (Rev.2-15-78) 1