HomeMy WebLinkAbout2988 ~F1tP t1f ~l~I't~1~1 MORTGAGE DEED 4~1 ~
fit. yucie ~taunig ~`3
THIS MORTGAGB Mads Thts 16th day of November . 1e 79 .
by aad betweea James E. Hayes
and
Ruby D. Hayes wife of
St. LUCie County, State of Florida , herelnaftar whether one or more called the "Mon-
gagor". has become justly Indebted to Florida Vinyl Distributors, Inc • of
Hillsborough County. State of Florida , herelnatler called the "Mortgagee". in the sum of
Sever Thnuaand Six Htmr~rEad_apd f1Q~l(jD---.--... nO~g (S 7600.00-- )
evidenced by OI1C' ptomlasory note of even dste herewith !3 the total amount set forth above. payable
in 120 monthly tastellmeats to the gun, of One Hundred Twenty Six and 66/100---------- 4
DoLLAIts x126.66--- the first payment commencing oa the 20th day of January
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]9 1~.i~A6~d continuing on the same day of each month thereafter until fully paW, together with late charges of flue (S) cents per S1.00
on each lastallmeat act paid within tea I]0) days of the due date, but not exceeding the lawful maximum, and Interest after maturity at the rate #
of 10% per annum.
NOW, (or end is coasideretton of the aforesaid tndebtedaess and to secure the prompt payment of the same. Mongagor has bargained and
sold and does hereby great. bargain. sell and convey unto the said Mortgagee, his successors and assigns, the following described lot or parcel
of lend situated in - $t. Lucie Courtly. State of Florida, to wtt:
Lot 26, Block 43, River Park Unit No. 5, according, to the plat
thereof as recorded in Plat Book 11, Page 31, of the Public Recerds
of St. Lucie County, Florida.
Due On Cla ~ in PayRlent Of Talt,~ ~ O
C" ~ntarpt~le PMagtr • 6 ~ 1
Purst~ To Chapter 71, 18{„ ~ 01 ~
Together with ell rights. members. privileges. hereditaments. easements end appurtenances belonging or appertaining. Mongagor hereby
covenants and warrants to the Mortgagee. his heirs. successors aad assigns. that he has a tee simple tWe to said property. free from all en-
cumbrances except:
First Federal Savings & Loan Association of Fort Pierce
TO HAVE AND TO HOLD all and singular the atoregranted and bargained premises unto the Mortgagee forever. provided always that it {
the Mortgagor shall aad will pay to the order of the Mortgagee. according to its tenor aad effect. that certain promLssory note of even date
herewith end secured hereby sod any other sums which become owing by the Mortgagor to the Mortgagee prior to cancepetion hereof. then
this mortgage steal! cease. terminate errd be void. otherwise to remain in full force end effect. a
The Mongagor agrees end covenants to pay all taxes and spacial assessmegis against the property and agrees to pay all taxes levied under
the laws of this State on the tndebtedness secured hereby. Mortgagor further covenants and agrees that be 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 and damage by
fire aad the other casualties covered by the usual comprehensive casualty insurance policy. Such policy shell be with an insurer acceptable to
the Mortgagee. in an amount act less than the balance owing upon the indebtedness secured hereby. with toss payable to the Mortgagee. to the
event of toss. Mortgagor shall glue Immediate notice by maq to the Mortgagee, who will make proof of loss !f not made promptly by the Mort-
gagor. aad each Insurance company concerned is hereby authorized aad directed to make payment for such loss directly to the MorlRaRee im
stead of to the Mortgagee aad Mortgagor pintly but. In the event any payment is made Jointly, Mongagor 4rereby authorizes Mortgagee to en-
dorse his name on any check. draft or money order as his attorney-in-fact. Upon payment for loss, the Mongagegmey at his sole option apply ~
such proceeds to reduces the balance of the tndebtedntss. or to restore the mortgage property. In the event Mortgagor shall neglect or refuse to
obtain said lnsurence or psy any taxes when due. then the Mortgagee may at his sole option obtain such insurance or pay all such taxes or both.
and all sums expended therefor are hereby secured by this aortgage and shall be due immediately from Mongagor to Mortgagee with interest
at the rate of ]0% per annum from the date of payment by the Mortgagee until paid.
4 '
* T1y ~1oIlgagtar agrees and wvenants that ha will malnleia mortgaged property In good condition and not !o commit or to permit anyone
else to commit weals. reasonable wear and feu excepted. U the fsllure of the Mongagor to so maintain the mortgaged property, the Mort-
gegee may cease reasonable maintenentx worn to be perform at the cost of the Mongagor. My such sum so expended shall be due immediate- '
ly from Mongagor with interest s1 the race of ]0% per annua from the date expended until peed.
The Mongagor hereby vests the Mortgagee with the toll power and authority. upon the breach of any covenant or warrant herein contained.
or upon any default in the payment of any tnststlment provided in sold note or any renewal or extension thereof. or in the performance oI any
agreement herein ooatalned, to declare the entire Indebtedaesa hereby secured immediately due and payable, wit ut no Ice to any person. to t
proceed to foreclose this. mortgage In accordance with laws of this State. 1'
8[10~1(~N~ PACF