HomeMy WebLinkAbout2546 44'7009 Re-Recr~•
Interest rate charged authorized by Chapter 687
' 45'7258
THIS DSSD TS TO Bli' RE-~}igCQRDED sxo~~xc STATE ~F Fl.-G ~ ~ u '
ATTACIfSD LEGAL MORTGAGE DEED aOCUMENTAR_Y,- •~:;~ST~: M i' _ ~ ; 1~ ~
?E?T OF ttEVENUE
STATE OF FLORIDA _ ~ ~
~ z« ' ~ ~ ~ ! _
St. Lucie COUNTY •
THIS MORTGAGE Made this 23rd day of August , 19 79 by and between
Cornelius Albury and Erma J: Alburv ,
his wife of St. Lucie County, State of Florida ,
hereinafter whether one or more called the "Mortgagor", has become justly indebted to
uaaa~uau taetropolitan Mortgage, Inc. , d/b/a Mid-Florida Finance Company
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of Hillsborough County, State of Florida, hereinafttr called the "Mortgagee", in the sum of •
Fourteen Thousand Eight Hundred Two Dollars and 96/100--------------pOLLARS(f 14,802.96 )
evidenced by one promissory note of even date herewith in the total amount xt forth above, payable in
120 monthly installmenu in the sum of Two Hundred Sixty-Six and 73/100------DOLLARS (f266.73
the first payment commencing on the 10th day of October , 19 79 ,and continuing on the
same day of each month thereafter until fully paid, together with late charges of five (5) cents per 11.00 on each installment not paid
within ten (10) days of the due date, but not exceeding the lawful maximum and interest after maturity at the rate of 1096 per annum.
NOW for and in consideration of the aforesaid indebtedness and to secure the prompt payment of the same, Mortgga or has bargained
and sold and does hereby grant, bargain, sell and convey unto the said Mortgagee, iu successors and assigns, the fol~owing described
lot or parcel of land situated in St. Lucie County, State of Florida, to-wit:
SEE ATTACF.ED FOR LEGALS
•r ~~ETHLR with atl improvements situated u_non the above deS~-rib~i .^ro~.erty- Aim G: ;szl
:.-;~iturc, fixtur:.•s and equipment of every kind, character and description now contained
it the irr>r~~rrteents situated uooT tY.e above described property, including any replacements,
;~~bstitutions or additions t-hereto.
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Together with all rights, privileges, hereditaments, easements and appurtenances belonging or appertaining. Mortgagor hereby
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covenants and warrants to the Mortgagee, its successor and assigns, that he has a fee simple title to said property free from all
~•ncumbrances except:
RECEtYEO : °t ~ .
h 1 iN PAlIME11T OF TAXES
DUE ON CL SS 'C' INTANG:BIE PFRSRKRI PROPER~t
~ PARCEL I: Pennamco IURSU!!Ni TO ~N.ZPTfR 71-i:4, ACTS Of 1$n,
R06ER PNTRJIS
Parcel II : Treasure Realty CiERK C1gGWT COWIT, iI. LIICt C0.
TO HAVE AND TO HOLD all and singular the aforegranted and bargained premises unto the Mortgagee forever, provided always that
if the Mortgagor shall and will pay to the order of the Mortgagee, according to its tenor and effect, that certain promissory note of even
~l~te herewith and secured hereby and any other sums which become owing by the Mortgagor to the Mortgagee prior to cancellation
hereof, then this mortgage shall cease, terminate and be void, otherwise to remain in full force and effect.
The Mortgagor agrees and covenants to pay all taxes -and special assessements against the property and agrees to pay all taxes levied
under the laws of this state on the indebtedness xcured hereby. Mortgagor further covenants and agrees that he will at all times until the
release of this mortgage keep in force a policy of insurance on that portion of the mortgaged property which is insurable covering loss
.,nd damage by fire and the other casualties covered by the usual comprehensive casualty insurance policy. Such Policy shall be with an
insurer acceptable to the Mortgagee in an amount. not less than the balance owing upon all mortgage indebtedness encumbering the
property with loss payable to the Mortgagee. In the event of loss, Mortgagor shall give immediate notice by mail to the Mortgagee which
will make proof of loss if not made promptly by the Mortgagor and each insurance company concerned is hereby authorized and directed
*.o make payment for such loss directly to the Mortgagee instead of to the Mortgagee and Mortgagor jointly but, in the event any payment
is made jointly, Mortgagor hereby authorizes Mortgagee to endorx his name on any check, draft or money order as his attorney-in-fact.
t !p:,n payment for loss, the Mortgagee may at its sole option apply such proceeds to reduce the balance of the indebtedness or to restore
the mortgage property. In the event Mortgagor shall neglect or refuse to obtain said insurance or pay any taxes when due, then the
`lortgagee may at its sole option obtain such insurance or pay all such taxes or both and all sums expended therefor are hereby secured
l,~• this mortgage and shall be due immediately from Mortgagor to Mortgagee with interest at the rate of ]0°,i, per annum from the date of !
p.?}•ment by the Mortgagee until paid.
The Mortgagor agrees and covenants that he will maintain the mortgaged property in good condition and not commit or to ptrmit
' an gone else to commit waste, reasonable wear and tear excepted. Upon the failure of the Mortgagor to so maintain the mortgaged ~
property, the Mortgagee may cause reasonable maintenance work to be performed at the cost of the Mortgagor. Any such sum so '
rzpended shall be due immediately from Mortgagor with interest at the rate of 1096 per annum from the date expended until paid.
:
The Mortgagor hereby vests the Mortgagee with the full power and authority, upon the breach of any covenant or warrant herein
contained, or upon any default in the payment of any installment provided in said note or any renewal or extension thereof, or in the
performance of any agreement herein contained, to declare the entire indebtedness hereby secured immediately due and payable, without
n~?tice to any person to proceed to foreclose this mortgage in accordance with laws of this State.
Ylepar6d by LINDA wAGr1ER OR r~ c~ Re'Record
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