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~111``~~` 11~41X~(X BALLOON MORTGAGE~ursuant To C i4?~Oit~
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THIS MORTGAGE. executed thi: oZ day or February to 80 at fort Pierce
Florida MICHAEL J. PICANO and SANDRA KAYE PICANO, his wife
of the first part. hereinafter called the Mortgag«. which term as used Mrein in every instance shall include the Mortgag«'s heirs, executors, administrators.
successors. legal representatives and assigns, including all wbasquent grantees. sinter voluntary by act of the parties « involuntary by operation of law, and
shall denote the singular and/« plural, and ttN mastxrlrns sndl« feminine, and natural and/« artificial persons. wlrsrrsvsr and wherever the context so re-
quires «admits. to9ololthstnt FIRST NATIONAL BANK OF FORT PIERCE
a banking association, of the second pan. hereinafter called the Mortgagee. which
Tenn as used herein in every instar>rr! shall include the Mortgagee's successors, legal representatives and assigns. including alt subsequent assignees. either
voluntary by act of the parties « involuntary by operation of law.
W I T~N E S S E T H
THAT f« divers good and valuable considerations. and also to secure the payment of the aggregate wm of money named in tM promissory note of
even date herewith. Itersinahsr msnti«rsd. together with interest thereon, and ell other wms of money secured hereby as hereinafter provided, the
Mortgsg« does grant. bargain, sell. alien, romise. release. convoy and confirm unto the Mortgagee. in fee simple.
IA? the following land:
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Lot 3, Block 2 of an unrecorded plat of RAINTREE FOREST in
Section 33, Township 35 South, Range 40 East, St. Lucie 1
County, Florida, more particularly described as follows, to wit:
Beginning at a point that is 30 feet South of and 75 feet East of the Northwest corner of
Se~tion 33, Township 35 South, Range 40 East, St. Lucie County, Florida; thence run South
89 34'46" East, parallel to the North line of said Section 33, a distance of 210.34 feet;
thence South 02°27'15" West, parallel to the West line 8f said Section 33, a distance of
250.00 feet, to the PgINT OF BEGINNING; thence South 89 34'46" East, a distance of 176.40
feet; thence South 02 27'15" West, a dis~ance of 125.00 feet; thence North 89 34'46" West, a
distance of 176.40 feet; thence North 02 27'15" East, a distance of 125.00 feet, to the 3
POI!iT OF BEGINNING. t
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(B I AI! buildings. structures, and improvemsnta of every nature whatsoever now « hereafter situated on the said property, and ap furniture. fumistdngs.
i~xtures. machinery. equipment. inventory and materials on site. and personal property of every nature whatsoever now or hereafter owned by the Mort-
gagor and located in. on. or used « intended to be used in connection with or with the operation of said property, buildings. structures « other improve-
menu. including all extensions. additions. improvements. betterments. renewals and replacements to any of the foregoing: and all of the right. title and
interest of the Mortgagor in any such personal property o? fixtures subject to a conditional sales contract. chattel mortgage or similar lien « claim together
with the benefit of any deposits « payments now « hereafter made by the mortgagor or On its behalf.
I ;
Together with a!I and singular the tenements, frsreditsments, easements and appurtenances thereunto belonging. « in any wise appertaining, and the ~
rents. issues. end profits thereof, and also all the estate. right, titM. interest and all claims and demands whatsoever, as well in taw as in equity, of said
Mo:igagos in and to the same. and every part and parcel thereof, and also specifically but not by way of limitation all gas and electric fixtures. radiators.
heaters, water pumps, air conditioning equipment, machinery, boilers, ranges, elevators and motors, bath tubs. sinks, water cbsets, water basins, pipes.
faucets. and other plumbing and heating fixtures, mantels. refrigerating plants and ice boxes, window screens. screen doors. venetian blinds. cornices. atoms
shutters and awnings, which are now «may hereafter pertain to or be used with, in or on said premises, even though they bs detached or detachable, are and
shalt tie deemed to be fixtures and accessories to the freehold end a part of the realty.
TO HAVE AND TO HOLD the same. together with the tenements, hereditaments and appurtenances thereunto belongirr~, and the rents. iswes and
profits thereof. unto the said Mortgagee.
The said Mortgsg« hereby covenants with the said Mortgagee that the said Mortgeg« is irrdsiessibly seized with the absolute end fee simple true to !
sa,d property, and has full power end lawful authority to sell, convey, transfer and mortgage the same: that it shall be lawful at any time hereafter f« the '
Mortgagee to peaceably and quietly enter upon. have. hold end enjoy said property, and every pert thereof; that said property is free and discharged from all
Dens, encumbrances and claims of any kind, including taxes and assessments. except-ttwse that may be set out above or hereinafter; that the Mortgagor will
make at Mortgagor's expense and st no expense to Mortgages such other and further aswrancss to perfect the tea simple title to said land. fixtures and per- t
sonar property in the Mortgagee as may hsrssher be required; and that the Mortgag« hereby fully warrants unto the Mortgagee the title to said property and
will defend the same against the lawful claims and demands of all persons whomsoever.
NOW. THEREFORE, the conditions of this mortgage are wch that if the Mortgag« shall well and truly pay unto the Mortgagee the
indebtedness evidenced by -that certain promissory note of even date herewith, made by the Mortgagor and payable to the Mortgagee in the
pnncipal sum of TWELVE THOUSAND THREE HUNDRED SEVENTY-FIVE AND NO/100 IS 12,375.00-----------
_ the final
balloon March 5, 1985
/payment of which is due on together whit any note « notes hereahsr executed ny the Mortgag«
hereinby and in scc«dancs with paragraph sixteen of this mortgage as hersinahsr set forth end secured by the lien of this mortgage. together with interest ss
therein stated. and shall psrf«m, comply with and abide by each and every the stipulations. agreements. conditions and covenants contained and set forth in
this mortgage end in the promissory note secured hereby, then this mortgage and the estate Mreby ueated shall cease and be null end void.
AND. the Mortgagor doss hereby covenant and egrss: i
t. To pert«m, comply with and abide by each and every the stipulations, agreements. conditions and covenants contained and set forth in said ;
promissory note « notes, this mortgage and, if applicable, the ban agreement between rite Mortgages end Mortgagor.
2 To pay the indebtedness secured by this instrument and according to the true tsn« and sHect of tits promissory note hersinabove mentioned a
of any renewal thereof. promptly on tlrs day « days the earns swerslly become due.
3. To pay, bet«e becoming delinquent. ell obligations. sncumbrsncss, taxes, ssssssmentt. paving, sidewalk. sanitary end other assessments. levies
or t~enr. now « hsrsahe? levied « imposed upon « against the mortgaged property, and to exhibit to the Mortgagee bet«e such taxes. assessments
hens and encumbrances become delinquent the oHrcial receipts f« payment thereof, and ii the some « arty part thereof be not paid bet«s becoming
del~nqusnt the Mortgagee may at any time pay ihs same with accrued interest and charges, i/ any, without waiving « aNscting Mortgagee's option to
foreclose this mortgage. « any right hereunder, and every payment so mods shall bear interest from the date thereof at the highest rate auth«rzed by lav?
end all such payments with interest shall be secured by the Iran hereof
~ 5-MTC-17 (11/75) M 06p51-OIS 1
BALL.O[~N MORTGAGE 800K~~?V pa~E1a99