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THIS IrvSTRUAIENT PREPARED BY.
Clyde P. Platts
Security federal Savings b loan Association
of Indian River County MORTGAGE •
Sixth Avenue and Twenty Finf Street
Vero Beach, Florida 32960 164
Loan No.- -
THE UNDERSIGNED, Laurel Builders, Inc. , a Florida (brporation----~ -
of __Ft._Pieree County of St._„Lucie State of Florida, hereinafter -
referred to as the Mortgagor, does hereby mortgage and warrant to SECURITY FEDERAL SAVINGS AND
LOAN ASSOCIATION OF INDIAN RIVER COUNTY, a corporation organized and existing under the
laws of the United States of America, hereinafter referred to as the Mortgagee, the following real estate
in the County of___ _St. Lucie in the State of Florida, to wit:
Lot 66, HOLIDAY PI1~5, PHASE I, according to the plat thereof recorded
in Plat Book 18, Pages 16 and 16A through 16D, Public Records of
St. Lucie County, Florida.
5 RECf1YE~ s 97. go 111 PAYMEIR Or T4X^d
~j CU. CN CUSS 'C' IHTKNG.2LE PEFv~ti:.t PKQr'EtTY,
c'j 3' F!i?.;UAt17 TO CHAPTER 71-1?4, ACTS OF 1911.
ROGER PGITitAS
Catutii 47KI.W 1 1.Y11M1, ai.iti%iu w., ?Aw, s./t~ r_ _
_ _ _ _ S
_ ai.
If a conveyance should be made by the mortgagors of the premises herein described, or any part
thereof, without the written consent of the Association, and without assumption in regular form of
law t•y the grantee of the obligations to the Association created by said promissory note and this mort-
gage, then, and in that event, and at the option of the Association, and without notice, all sums of
money secured hereby shall immediately and concurrently with such conveyance become due and pay- _
able and in default. The Association reserves the right to withhold consent to any such conveyance
and assumption until and unless satisfactory financial reports and other personal data required by the
Association are furnished to the Association by the party acquiring title to the premises, or any part
thereof. By giving its consent to such conveyance, the Association shall not be deemed to have released
the mortgagor hereunder from any liability hereunder. The Association may deal with successors in in-
terest with reference to this mortage and the debt hereby secured in the same manner as with the
mortgagors, and may forbear to sue or may extend time for payment of the debt, secured hereby, or
otherwise act without discharging or in any way affecting the liability of the mortgagors hereunder -
or upon the debt hereby secured. The Association may also deal with the Mortgagors and/or with
successors in interest with reference to this mortgage and the debt hereby secured by forbearing to
suc, extendinb the time for payment of the debt, providing for different monthly payments and/or. a
different interest rate, and by other express modifications of the contract, without losing any priority
the Association has over other mortgagees or lienors or holders of any junior interest in the property
secured hereby.
Together with all buildings, improvements, fixtures or appurtenances now or hereafter erected there-
on or placed thereirt, including all apparatus, equipment, fixtures or articles, whether in single units or
centrally controlled, used to supply heat, gas, air conditioning, water, light, power, refrigeration, ventila-
tion or other services, and any other thing now or hereafter therein or thereon, including screens, window
shades, storm doors and windows, floor coverings, screen doors; awnings, stoves and water heaters
(all of which are intended to be and are heresy declared to be a part of ;aid real estate whether physic-
ally attached thereto or not); and also together with all easements and the rents, issues and profits of
said premises which are hereby pledged, assigned, transferred and set over unto the Mortgagee, whether
now due or hereafter to become due as provided in the Supplemental Agreement ser-ured hereby. The
Mortgagee is hereby subrogated to the rights of alt mortes, iienhotders (~dA~w~ners pal%~ pro-
ceeds of the lear; hereby secured. , ~ , ~ ,,,~„r_ ogee