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Interest rate charf*ed authorized by Cl~pter 687 r- = ~ ~ ~ _ -
MORTGAGE DEED ~ ~ ~
Re~~ • 1~ ~ a ~ "
Due On Class "C" Ntt+Nt~~l• ~ 1g1 ~IM~
ST TE Of F[I~~ORIDA Pursuant To ChsOtsr T1.1~1. AMID dl 1Ai.
~t• LIiOlA COUNTY
lt00fA ~
Ctark Cireuk Ca+Iet.1t t~ Q1,
THIS MORTGAGE Made this 15th day of November , l9 79 by and between
Joo Yong Yin and Ok Js Yin
his wife of St• Lucie County, State of Florida
hereinafter whether one or more called the "Mortgagor", has become justly indebted to -
American lfetropolitan Mort , Inc., d/b/a Mid-Florida Finance Comn v
of Hillsborough County, State of Florida, hereinafter called the "Mortgagee", in the sum of
Siz a?ousand Seven Hundred Fifty-free Dollars and 04/1.^.0 6753.04
DOLLARS (S )
evidenced by or_e promissory note of even date herewith in the total amount set forth above, payable in
monthly installments in the sum of One Hundred Fbrty-One and y7iiv~ DOLLARS (f 141.93 )
the first payment commencing on cht 25th day of December , 19 ?9 ,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 (l0) 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, Mortga or has bargained
and sold and does hereby grant, bargain, sell and convey unto the said Mortgagee, its successors and assigns, the following described
lot or parcel of land situated in St. Lucie County, State of Florida, to-wit:
Lot 4, Hlock 3, SOU'18 POjtT ST. LIICIE DNZT ~1,, aocording to the plat thereof
on file arot recorded in Flat Book 12, Pages 1 aad 2, Public 8ecords of St. Lucie
county, Florida. -
Zbg+ether with all improvements situated upon the above described property. ALSOt All
furniture, liztures and wquipment of every kind, character and description now contained
in the improvements situated upon the above described property, including aqy replacements,
substitutions or additions thereto.
Together with all rights, privileges, hereditaments, easements and appurtenances belonging or appertaining. Mortgagor hereby
covenants and warrants to the Mortgagee, its successors and assigns, that he has a fee simple title to said property free from all
~~nrumbrances except: '
Citizens Federal Savings ~ Loaa
^t
T(7 HAVE AND TO HOLD all and singular the aforegranted and bargained premises unto the Mortgagee forever, provided always that
it the Mortgagor shall and will pay co the order of the Mortgagee, according to its tenor and effect, that certain promissory note of even
.i.,tc herewith and secured hereby and any other sums which become owing by the Mortgagor to the Mortgagee prior to cancellation
h_ reof. 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
:nder the laws of this state on the indebtedness secured hereby. Mortgagor further covenants and agrees that he-will at all times until the
r~ lease of this mortgage keep in force a policy of insurance on that portion of the mortgaged property which is insurable covering loss
,rt~l damage by fire and the other casualties covered by the usual comprehensive casualty insurance policy. Such policy shall be with an
:usurer 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
~h~ill make proof of loss if not made promptly by the Mortgagor and each insurance company concerned is hereby authorized and directed
make payment for such loss directly to the Mortgagee instead of to the Mortgagee and Mortgagor jointly but, in the event any payment
,s made jointly, Mortgagor hereby authorizes Mortgagee to endorse his name on any check, draft or money order as his attorneyin-fact.
t'pon 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
Mortgagee may at its sole option obtain such insurance or pay all such taxes or both and all sums expended therefor are hereby secured
by this mortgage and shall be due immediately from Mortgagor to Mortgagee with interest at the rate of 10% per annum from the date of
payment 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 permit
anyone 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 ac the cost of the Mortgagor. Any such sum so
expended 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
notice to any person to proceed to foreclose this mortgage in accordance with laws of this State.
Prer~red by ~.arbara Blork r,l.:~ ~-!c ~ - . • -
4I2I th street ~ -
Suite ?_0° '~J?
Plantation, Florida 33317 ~l . _ - • _ ~ +