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THIS INSTRUMENT PREPARED BY:
Clyde P. Platts
Security feaerat Savinss a loan AssociatiM
of Indian River County M O R T G A G E
Sixth Aveiwe and Twenty First Street
Vero Beach, Ftaiaa 32960 16470_
Loan No._ .
THE UNDERSIGNED,___Laurel Builders, Inc., a Florida Cbr~oration-_ _
of _ -~•_Pierce 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 ref?rred to as the Mortgagee, the following real estate
.n the County of__ __St. Lucie in the State of Florida, to wit:
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Lot 55, Holiday Pines, Phase I, according to the plat thereof
recorded in Plat Book 18, pages 16 alx3 16A-16D, Public Records
of St. Lucie G~unty, Florida. -
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pECEIYfD f 97.orD 1!1 PA1?J!ENT CF TRX~
DU'e 8N CIaSS 'C' INT?Ki: 2~ f P 7.:. L PRB; EtcTr,
~aa PURSUANT TO GHAPTi.: 71- 4, AiTS Cf 1~7L
' 806:8 P::IT: R~ ~ .
CLERK CUtCUR COURT. ST, lOt:lE CO, f1A.~
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~ If a c,Q?tveyance should be made by the mortgagors of -the premises" herein described, or any part
thereof, Wit!~out the written consent of the Association, and without assumption in regular form of -
law by the grantee of the obligations to the Association created by said promissory note and this mori-
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 a
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- t
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
sue, extending 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 tTtort a ees or lienors or holders of an unior interest in the ro r
g g Y I P Pe tY
secured hereby.
Together with all buildings, improvements, fixtures or appurtenances now or hereafter erected there-
on or placed therein, 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 said 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, transferr.~d and set over unto the Mortgagee, whether
r now due or hereafter to become due as provided in the Supplemental Agreement secured hereby. The
Mortgagee is hereby subrogated to the rights of all mortgages, lienholders and owe aid oft by pro-
ceeds og;the loan, her~~y secured. nr>~.Ela~