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Home My WebLink About1626 m-. • o ti/ MORTGAGE ~ 4'72143 • ~ Beee~clhari, Garv E. Tha and Patricia This Mortgsge is made chi day of_ • "i9 byod~~~~n~_~ - _ S Tharp phi s_ Wife?) ' ' ("M nd Valentine Financial, Inc. ("Mwt~ce"1. a Florida corporation, having an office in the City ofNOr h Pam m BCh County of Pam BPa ~h ,State of Florida. WITNESSETH: WHEREAS. Morlgagor is indebted to Mortgagee in the sum of $58.377.60 as evidenced by that certain promissory note of even date herewith. executed by Mortgagor and delivered to Mortgagee, a copy of which is attached hereto (the '`Note); NOW. THEREFORE to secure the performance by Mortgagor of all covenants and conditiau in the Nwe and in this Mortgage and in all other instru- mrnts securing the Note, at?d in order to charge the properties. interests and rights hereinafter described with such paymrnt and performance and to secure renewals and extensions thereof, and for and in consideration of the sum of Trn and no/100 Dollars (f 10.00), Mortgagor does hereby mortgage, sell, pledge and assign to Mortgagee all of the land in the County of • s _ i P - State of Florida, which is more particularly described as follows: =Sindon's Subdivision, Block 2, Lot 8, St. Lucie County Florida A/K/A 2108 Donald Str~f~t.~FpXtt Pierce, Florida ~ e + ~ PtlmtM Ttlv~s Oue On Claq "C" PMM11~'~! Pursutsttt To Chtl~tK 71~ ~ 110 ' Principal Amount: $27,000.00 ~C~C~,~tL~~•~` Interest: ~ $31,377.60 Total Amount: $58,377.60_ _ _ Prepared By: Gail Gifford - - ~ _ ~ ~ 649 U.S. Highway #i ' . ~ . _ _ - - - Suite 12 _ _ - _ - ~ J ~ ; North Palm Beach, FL 33408 Su - ? ~ - - To have and to hold the same, together with all improvements and appurtenances thereto, and also all the estate, right, title, interest, homestead, right of dower, separate estate, properly. possession and claim whatsoever of Mortgagor to the same in every part and parcel thereof unto Mortgagee in fee simple ("Mortgaged Properly"1. SUBJECT TO the following "Permitted Liens": 1r V l~ 1; ~ PROVIDED ALWAYS, that if Morlgagor shall pay to Mortgagee the Note at the times and in the manner stipulated therein, and in all other instru- ~ merles securing the Note, including raiewal>;; extensions or modifications thereof, and in this Mortgage and in all other instruments securing the Note, to be kept, performed or observed by Mortgagor, then this Mortgage shall cease and be void, but shall otherwise remain in full force and effect. Mongagw covenants and agrees with Mortgagee as follows: ~ 1. Compliance witY Note and Mortgage; V1'anary at Title. Mortgagor shall comply with all provisions of the Note, this Mortgage and of every other instrument secunng the Note, and will promptly pay to Mortgagee the principal with interest thereon and all other sums required to be paid by Mortgagor under the Note and pursuant to the provisions of this Mortgage and of every other instrument souring the Note. Mortgagor is indefeasibly seized of the Mortgaged Properly in fee simple and Mortgagor has lawful authority to convey, mortgage and encumber the same as pro'+ided by this Mortgage, and dcxs hereby so warrant. ' 2. Paytaeat of Taxes and Lkas. Mortgagor shall pay all the taxes, obligations and encumbrances of every nature now on the Mortgaged Property or that hereafter may be imposed upon this Mortgage or the Mortgaged Property or upon the indebtedness secured hereby, except that Perrriitted Liens may be discharged in accordance with their terms. All such payments to be rnadc when due and payable aaording to law before they bea:ome deliquent and ! before any interest attaches or any penalty is intoned. Insofar as any indebtedness is of record (except indebtedness giving rise to Permitted Liens) the same shall be promptly satisfied and evidence of such satisfaction shall be givrn to Mortgagee. 3. Ittsarstace. Mortgagor shall keep the Mortgaged Property and the improvements now existing or hereafter erected on the Mortgaged Property insured a~ may berequired -from ti:rst to time by Mortgagee against loss by fire, other hazards and contingencies in such amounts and for such periods as may be required by Mortgagee. Mortgagor shall pay promptly, when due, any premiums on such insurance. All insurance shall be carried with companies approved by Mortgagee and the policy and renewals thereof slfall be held by Mongagce and have attached thereto loss payable clauses in favor and in form acceptable to Mortgagee. In the event of loss, Mortgagor shall give immediate notice by mail to Mortgagee and Mortgagee may make proof of loss if not made promptly by Morlgagor. Each insurance company concerned is hereby authorized and directed to make payments for such loss directly to Mortgagee instead of either to Mortgagor w Mortgagor and Mortgagee jointly. Insurance proceeds or any pan thereof may be applied by Mortgagee at its option, after deducting therefrom all its expenses including attorney's fees, either to the reduction of the iridebiedriess hereby secured or to the restoration or repair of the properly damaged. Mortgagee is hereby authorized, at its option, to sack and compromise any claims, awards, damages, rights of action and proceeds, and any other payment or relief under any insurance policy. In the event of foreclosure of this Mortgage w other transfer of tick to the Mortgaged Properly in extinguishment of the indebtedness secured hereby, all right, tick, and interest of Mortgagor in and to any inwrance pdicies then in force shall pass to the purchaser or grantee. Mwtgaga may at its option require Mortgagor to deposit with Mortgagee on the first day of each month, in addetion to making payments of principal and interest, until the Note is fully paid, an amount equal to one-twelfth (1/12) of the yearly premiums for all insurance. Such deposits shall nor be, nor be deemed to be, trust funds, but may be commingled with the general funds of Mortgagee, and do interest shall be payable in respect thereof. Upon demand by Mortgagee, Mortgagor shall deliver to Mortgagee such additional monies as are necessary to make up any deficiencies in the amounts ntoessary to enable Mortgagee to pay such premiums when due. In the event of default under any of the terms, covenants and conduions in the Note. this Mortgage or any other instrument securing the Note to be performed or observed by Mortgagor, Mortgagee may apply to the reduction of the wins secured hereby, in such manner as Mortgagee shall daetmine, any amount under this paragraph remaining to Mortgagor's credit and any return premium received from cancellation of any insurance policy by Mortgagee upon foreclosure of this Mortgage. 4. Coradetanatioa. If the Mongageed Property or any put thereof shall be damaged or taken through condemnation (which tam whrn used herein ~ shall include any damage or taking by any governmrntal authority or any other authority authorized by the laws of the State of Florida w the United ~ States of America to so damage or take, and any transfer by private sale in lieu thereof), tither-temporarily or permanrntly, the rntire indebtedness and other stuns secured hereby shall, at the option of Morlgagte, become immediately due and payable. Mortgagee shall be entitled to all compensation awards, damages, claims. rights of action and proceeds of, or on account of any damage w taking through condemnation and is hereby authorized, at its option, to commence. appear in and prosecute, +n its own w Mortgagor's name, any action or proceeding relating to any condemnation. and to settle w ~ compromise any claim in rnnnoction therewith. All such compensation awards, damages, claims, rights of action and proceeds, and any other paytrients or relief. and the right thereto. are hereby assigned by Morlgagw to Mortgagee and Mortgages after deducting therefrom all its expenses including attorney's fees may release any monies so received by it without affecting the lirn of this Mortgage or may apply the same, in wch manner as Mortgagee shall deter- mine, to the reduction of the sums secured hereby and to any prepayment charge provided in the Note, this Mortgage or any other instrument securing the ~ Note. My balance of wch monies thrn remaining shall be paid to Mortgagor. Morlgagw agrees to execute such further assignmrn[s or any compensa- tions, :wards, damages, claims, rights of action and proceeds as Mortgagee may require. S. Care of Morlpged Property. Mortgagor shall not remove or demolish any building w other properly forming a part of the Mortgaged Property without the writtrn rnnsent of Mortgagee. Mortgagor shall not permit, commit, or suffer any waste, impairment or deterioration of the Mortgaged Prop- erty orany parl thereof, and shall keep the same and improvements thereon in good condition and repair. Mortgagor shall notify Mortgagee in writing within five (S) days of any damage, or impairment of the Mortgaged Property. Mortgagee may, at Mwt iiddtscr6pon, ~tieshe Morcg~tged PsQp.'nY ~"~.>v inspected at any time and Mortgagor shall pay all costs incurred by Mortgagee in executing such inspection. a . h • , _ BUOK 3'it CT IAIIrS:~C:~~