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HomeMy WebLinkAbout0358 ~ s- DIRECT HOME IMPROVEMENT MORTGAGE ~ X70 fvITH FUTURE ADVANCE 469424 THIS MORTGAGE, made this lath day of December A.O., lg 79 ,between Jerrold Thomas McElfresh and Betty Jo McElfresh _ (Mortgagor? and Sun Bank of St. Lucie County _ (Mortgagee); (Nameot Sun 6ank1 ' WITNESSETH, that Mortgagor, for aril in consideration of the premises and in order to secure the payment of the principal and interest on the note las hereinafter defined 1, Mortgagor hereby grants, atiigns transfers and mortgages to Mortgagee, its successors and assigns forever, the following described real property in $t. Lucie County, Fbrida, to wit: ,a Lot 6, Block 3, of INDIAN HILL ESTATES, a subdivision ' , co according to the Plat thereof, recorded in Plat Book 10, at Paqe 32, of the Public Records fo St. Lucie ~ County, Florida. L ' tti' ~ , ~ `_i~ T 1 ~ L ~ _ This is a Second Mortgage - - FILED AM. :DES ' ST. lUCff : FlA- L i( ROC' ~ •5 , - - - . ~ ~ ?a f 0. Sr wl ?SYME1ft 0E T!?~ RECD E^'~ ~ _ . It - IlRT ~ - SUE Sfl tt~SS 'C 1lITAM6'ELE PERSOlII.I P;tSPERT~~ ~ PYR;UAIR TO aHAPTf'i 71-._L, ACTS OF 1511. y , , ROGER PoiTaAS O~c 13 3 so PM 'T9 - C~EAK gpC51T WI1RT, Si. W4E C51, R~ J - 49424 (hereinafter referred to as the Mortgaged Property); and the Mortgagor does hereby fully warrant the utle to the Mortgaged Property and whl defend the same against the lawful claims of all persons whomsoever. PROVIDED ALWAYS, that if Jerold Thomas McElfresh and Betty Jo McElfre~~ Makers) of that [Insert Namelsll certain promissory note dated the date hereof (the Notel, their heirs, legal representatives or assigns shall pay to Mortgagee the principal sum of $ 5 ~ 075' 80 as evidenced by the Note, r~ith interest and upon the terms as provided therein, the tidal maturity date of the Note and of this Mortgage being December i2 , 19 89 ,which Note provides that 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 tee, upon default. in the payment of the Note, and that it• 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 the entire principal vim and accrued, earned interest shall become due and 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 and the estate hereby created shall be void, otherwise the same shall remain in full force: Maker covenants to pay Lhe interest and principal promptly when due. Mortgagor covenants to pay the taxes and assess- f merits on said property; to carry insurance against fire on the building on said land for not less than $ n~a ,approved i by the Mortgagee, with standard mortgage loss clause payable to Mortgagee, the policy to be held by the Mortgagee and to keep the building on said land in propw repan. ~ This Mortgage shall secure not only existing indebtedness, but also wch future advances, whether such advances are obligatory or - to be made at the option of Mortgagee, or otherwise, as are made within twenty 1201 years from the date hereof, to the same extent as s~ :f wch future advances were made on the date of the execution of this Mortgage, but such secured indebtedness shall not exceed at any _ ~ time the maximum principal amount of S n/a plus interest, and any disbursements made for the payment of taxes, levies, or insurance, on the Mortgaged Property, with interest on wch disbursements. Any wch future advances, whether - ^J 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 O' any other notes secured by this Mortgage. This Mortgage is given for the Spetdic purpose of securing any and all indebtedness by the - ~ Maker to Mortgagee (but in no event shall the secured indebtedness exceed at any time the maximum principal amount set forth m the - a - paragraph) m whatever manner this indebtedness may be evidenced or represented, until this Mortgage is satisLed 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 'n future advance clause. 4i O: Should any of the above covenants be broken then the Note and all moneys secured hereby shall, without demand, if the - J x Mortgagee, so elect, at once become due and payable and this mortgag? may be foreclosed, and all costs and expenses of collection and - reasonable attorneys' tees, including costs, expenses and reasonable attorneys' fees on appeal, ii collected by legal proceedings or through an attorney at law, shall be paid by the Maker, and the same are hereby secured. CA: - ~ tN WITNESS WHEREOF, the Mortgagor has executed this Mortgage as of the date fast above set forth- ~ _ _ , :Il ' Signed, sealed and delrvereti in our pr ence: ? L ,ci~© ~lih'N'ca- _~~~~~T/'^t/ ISEALI 1' a IM tgagor) • 1 _ISEALI ~ IM tyagor? a s; STATE OF Florida I - 1 COUNTY OF St. Lucie - ~ I HEREBY CERTIFY~~ off this day, before me, an officer duly authorized in the State aforesaid aril in the County aforesaid ~'"''''"'Y- Jerold Thomas & Betty Jo McE~f~~~~ to take acknowledgm~, nally~pear vin to be the person described ~ they they in and who exe~fytt~lffE foregd~fg,ifiltf~urSlent and acknowledged before me that executed the same. •r t.. , WITN haffda~- qU 1 'fn the County and State last (ores this 12 h day of December . - _ Notary Public ' ~ - - ~yi'> ~ ~ ~ My Commissan Expire~TARY ~U~1~ STATE Qf 1 '_._'r~=_>s - CMnAlsttn..e.... RORI~ AT