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Home My WebLink About2705 _ ~ C~53A kc I . 62~5t4~ /g~?6 THIS MORTGAGE INDENTURE 4'19 c~ e.etut.d tare 3 day a ldarch . A.D., f980 . M MICHAEL R.~FARES~ and PAYLLIS C. FARESE, husband and wife party of tM tint part IfuranaUN called fNortgagorl, to CHASE FEDERAL SAVINGS AND LOAN ASSOCIATION a corporation exrstrrg ursdtr the laws of the United States of Artserica, party of the stcond part hsNerr?alttr called tM Assoc,atronl, WITNESSETH, That fa drvNS good and vafuabM consrderatrons, and to sewwe tM payment of the aggregate sum of morsey rsarrsed in the promissory note of corn date herewith, lstreinatta ntenhOntd, togetier vwtR enrsrnt thereon and all other sums of money stcwtd hereby as fserernafter prpvded, tM Mortgagor does grant, bargain, sell, erica, rem,se, release. convey and confirm unto Me Association, m tee trmptt, tf?t loftowirg described real least, of vahiM tM Mortgage is now stead and Possessed and m scwal possession. silents in the county of $t . Lucie Sete of Florida, legally described asfottows: Condominium Parcel No. 6313, of BEACHTREE II, a Condominium, according to the Declaration of Condominium thereof, as recorded in Official Records Book 321, at Page 2609, and any amendments thereto, of the Public Records of St. LuciA County, Florida. SUBJECT TO terms and conditions of above Declaration-of Condominium and any amendments thereto, and restrictions, easements and reservations cif record. TOGETHER with all structures and rmproverrsersts now and fsercafter on said fend and the fixtures attached thereto, also jogetitn sveth all and sir+gular Mt tsrsestrents, fief ed,taments, easements, ripar,an riglsts and appurtsns+rces thereunto belonging. d in any vase appertaening, and the rents, rttUef, and profits thereol, and also all the !stall, F „ght, title, interest and all clarms and demands whatsoever, at well in law ss in equity, of said Mortgagor m and to the same, and every part and parcel thpepl, and also all gas and electric fixtures, radiators, heaters, air conditrpning equrprnent, rnachrnery, balers, ranges, elrvaton and motors, bathtubs, sinks, voter closets, water basins, Prpef, faucets, and other plumb,ng and heatrrrg Irxtures, manteh, retrigeratirsg plans and ice boxes, yvrrtdOw xreens, screen doors, venetian blinds, storm shutters and awnings, which ere nosy o. may lrerealtsr pertain to or be used with, ,n a on sad prerrsises, even though they be detxlred-a detxhable, are and shall be deemed to tee t,xeuees and xcessions to the freehold and a part ol'the realty, and, rl tlse strove described property is now a shall hereafter be used lor cornmercral purposes, then the turnrturc and furnish,rtgs and any reptacemenes thereof which may be owned by the Mortgagor and vvh,M are now a may lsereaf ter Ix located upon the above described property. TO HAVE ANO TO HOLD the sense, together vwM alt the estate, right, title, interest, homestead, dower and right of dower, separate estate, posseession, claim and demarW whatsoever, in law or rn equity, of the card Ma tgagor m and to the same, and every part tlsere0l, unto the sad Association in fee simple. The Mortgagor hereby covenants vwth the Assocution that the Mortgagor is rndefeasrbly sewed with the absolute and tee srrnple title to said property, and has full power, and (awful authority to felt, corwey, trarssfr and rrsortgage the same. slier it shalt be Wwful at any sane hereafter fa the Association to pexeably and quiejly enter upon, nr:e. fsoW ante entoy said property, a,W every part thereof; that card property rs free and discharged from all bens, erscumManca, and clarms of any kind, including taxes and t :,ssessments, except ttse hen tsereof, which rs a first lien on card property; that ehe Mortgage will make such further assurances to perfect the tee simple title to said property .n the Association as may reasonably be requued; and that the Mortgagor does Hereby iu::y warrant unto the Association the title to card property and will delend same .r~,,:nst ttie mortgage clarms arW demarxls of all persons whomsoever. - NOW, THEREFORE, the condijron of this mortgage rs such that d the Mortgagor shall well arxf uuly Day unto the Association, the indebtedness ev ~derued by that certain promissory note, of even date herewith, made by the Mortgagor and payable to the Auociatwn, in the prerx:ipal sum DOLLARS < --THIRTY THOUSAND- ' .5 30', 000.00 1, together s~,th intpeft as therein stated, payable osier a te.m of 348 months, and snarl term, comply with and !bide by cxh and every the stipulations, agreements, cOrrdiuorK and covenants contained and set forth in this ntoitgage and m the prom,ssory note secured hereby, then this mortgage and the estate hereby created shall cease and be nett and vod. ' TRANSFER OF THE PROPERTY; ASSUMP710N If all or any part of the Property or an interest therein is sold or transferred by Mortgagor without Association's prior written consent, excluding Ial the - ueation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of s purchase money security interest for household appliances, le) s transfer t,y devise, descent or by operation of law upon the death of a joint tenant or (dl tM grant of any leasehold interest of three years or less not containing an option to purchase, Association may, at Association's option, declare a!1 the sums secured by this Mortgage to be imrrsediately due and payable. Association shall have waived such option to accelerate if, prior to rise sale or transfer, Association and the person to whom the Property is to be sold or transferred reach agreement in writing that the credi[ of such person is satisfactory to Association and that the interest payable on the sums secured by this Mortgage shalt be ~ .,t such rate as Association shall request. If Association has waived the option to accelerate provided in this paragraph and if Mortgagor's succettor in interest has executed a written assumption agreerrserst accepted in writing by Association, Associa.,on shall release Mortgagor from all obligations under this Mortgage and the Note. [f Association exercises such option tq accelerate, Association shall mail Mortgagor notice of acceleration. SucA notice shall provide a period of not less than 30 days from the date the notice is mailed within which Mortgagor may pay the sums declared due. If Mortgagor fails to pay such sums prior to the expirs- ticn of-such period, Association may, without further notice or demand on Mortgagor, invoke any remedies permitted by paragraph 15 hereof. - AND the Mortgagor doss hereby covenant and agree 1 To pay ail and singular the prxscrpsl and rrttsrest end ottNr wins of money payable by arttre of card prom,sstxy note and the mortgage. or either. promptly on the days respectively the same severally became due. 2 To pay all and s,ngular the taxes. asstssmertts. other gowrnmtntat tents. t+abtitrss. oblrgatrQns and erscumbrancss of every nature on sad desuibsd property and ttse related debt scquisetron each tied awry wMn des and paysDls according to law. before they become delinquent and. if the same shall not bs promptly paid. the Association may at any unit. either before a aher dslirsquency. pay the same vwthout wawrrtg or aHecirng the optrOn to foreclose, or any rpht hereunder. and every paymMt f0 made shall bear inawst from the dart tMrsot at the rate of eighteen per cem i:o.oi per annum ~ 3 That the Mortgagor w,u keep aft real and personal property now a iiereahsr encumbered by the lean of tMS tnortgsgs insured as may be rsquued from time to ~ .a aril! by the Assoc+atxsn against loss by fns. sandstorm and other ha:aids, egsusltiss and contingencies for such periods and fa rtOt less lien such amounts as ~ m may be regwred by the Assocation and to pay promptly wMn due au prtmiums for such insurance. Mortgagor agrees to ifslrvsr renewal or rsplscement policies of any nature or replxement csruficatss of insurance to the Assoaation, at Mast tent 10) days poor to the expiration or anniwrssry date of the exisurig L, - ~ u ~ potxies Tlse amounts of inwrsnl:e requued by the Assoaatwn shill be mirsimum amounts for wlsich said mwranca shall be written and it shall be incumbent <T ~ ~ upon the Mortgagor to maintain such sdditanti rnsurartce as may be necessary to meet and comply fully with au co-ensursrice requirements conuiMd in sad ~ polines to ttie end that sad Mortgagor rs not a oo-inwror tMreunder. Insurance shall be written by a t~nipany a comparwes approved tx designated by site A,soeeatrtxi and all pohcits and renewals tMreol siuu tit field by the Assoaatan. All degiled dsugnations by the Mortgagor which a:s s.,epted by the ~ ~ ;n Association and all agreements between Mortgagor and Assouation rNatittg to insurance. now axittrrsg a hereaher made, shall tit in wnUrtg and st1a11 bs a part r - - J of tMs mortgage agreement as tally as tfiotrgh sat forth wrbtbm fNrein and shall garsrn both parties hereto and ttitir successors and assigns. No ken upon any 3 ` ~ of card polities of irtsirrartte a upon any refund or alum premium viriiich may be paysbM on the ancaflation a terminatwn thereof, shall be given to other than _ ~ r o the Association, except by proper endorsement affixed to such pokey tad approved by tM Assoaatwn Each pdiry of irssurarice shau haw affixed thereto s c s- sL Standard New York Mortgagee Clause vnthout Contributan. making au loss or losses urtda such pobcy payabM to the Assocratitxs as its rntsrest may appear. E _ _t ~ in the event any sum a sums of money become payable thereunder. tM Assoaation sane hays the option to reuiw and apply the same on account of the in- ~ ~ t ilebtedness hereby severed. or to permit tM Mtxtgaga to rticeiw and use it. a arty part thereof, vrrthout thereby waitnrtg or irripauirig any tquity. Wn or rght q ~ under and by artue of this mortgage In twat of loss tx physical damage to tM rttatgagsd property. tM Mortgage shall give immetfisn notice ttiereot by mad 4 0 N to the Association srsd tM AssoCatron may make proof of bas d the same n rwt made promptly by the Mortgagor: to wont of foreclosure of this mortgage, a other transfer of brie to the rrtortgagtd property. in extirsguishrrtant of the indebtedness secured hereby, au right. titM and inbreft of the Mortgagor M and to Q any insurance policies then n IOtt» !fine pass to the pwchaser a grantee. The Mortgage turtlter agrees to abide by tM rules and existing reguMtions of the r~ ~ Associaton, in comectron with requirtd irtsurarice coverapt of the property Mreut enwmbertd. y a: 4 Paragraph 4 and those which follow are contained on Use retrersa ode d the mortgage and by re/!reap tie rrtcorporated into tM body of titre mortgage. The terms Matgaotsr and Association, whenever used in this instrument, shall include test heirs, personal representatives, successors a assigns of the respective petits hereto. WherMr used. the sirioular rwnsber Thal, intkrde the plural and the pewee the singular, and the use of any gender si?aii include all gerxiers. IN WITNESS WHEREOF, sheet premises have been executed the day and year first sfww written. ,,seated and dNive rn t ~ F ISEALI - N R. FARE E tsEai.l ` 60 ~ ~ MY11~1 M T~ P IS C . FARESE ~ ~ (1 ~ R~aE /0~[ ~Ya (SEAL) ~~~1.1~~.7=7~~ Mss ISEALI sJ ~r STATE OF FLORIDA COUNTY OF ST • LUCIE _ ; The foregang insuirrrtent was acknowledged bstort nit this day of Yarch , 19 80 by a t MICHAEL R. FARESE and PAYLLI3"~.''~,,AiR$SE, sband and wife ~ °i~--~ ~tl3.T ~ et>• } ' 4 ~ . - - fpe4 treesreG f NOYaftY Pc^.f.i~, sydTi: as Fid!t~i~-1~[ullW IENOER fifY Ccttfl.S{S~ICii i:Xar2f:3 ~Pt; i,',ll~0" . _ MY corrvr?iuion expels + Notary Public, Stat t , ' - r Q ny Q a.[