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Home My WebLink About1541 • - ~ 4 , 1383 ~ ~ . ~ 1 'This mortgage was prepared by; Tri- -o tnty Title Cerneratinn TD-6~f,93 MORTGAGE This Mortgage is made this_2~Ipldd March , 19 , by 8Q1 between l~iillia,m R. Bressette and Mary E. _ Bressette. husband and wife rMongagor"),aitdA,~o*'~~A*+ Ftt*tding.Limited. a Nev Jersey Limited pg r.~oh,~v~ f~,~a The Menu SavetlAMongagee"1, having an office at IOQ Bt acaonR Rlvd _ ('it)• of Miami County ot_ i1Ade ,State of Florida. WITNESSETH: WHEREAS. Mortgagor is indebted to Mortgages in the sum of Fifty One Thousand El~ght Hundred Eigsy Five sod ,NO/ 100 as evidenced by that certain promissory note of even date herewith, executed by Mortgagor and delivered to Mortgages. a copy of whtch is attached hereto (the ..Note):. . NOW, THEREFORE to savrc the performance by Mortgagor of all covertaats and conditions in the Note and io this Mortgage and in all other instru- ments socwittg the Note. and in order to charge the properties. interests and rights hereinafter described with such payment and performance and to secure renewals and extensions thereof, std for and in consideration of the sum of Ten and no/100 Dollars (1;10.00). Mortgsgor does hereby mortgage, sdl, pledge and assign to Mortgagee all of the land in the Cow?ty of St Luci - State of Florida, which is more parttntlarty described ss follows; Condominium Parcel No. 123, of Ocean Villas I, according the the Declaration of Condominium thereof, recorded in Official Record Book 259, at Pages 2791 through 2856, of the Public Records of St. Lucie County, Florida. . Regiwd • ~ ~ ; - ~ . - f . _ . ( to Paynwnt Ot T~ ` 1 . ' ! - ~y r r. ~ ; ~ i Dw On Clai '~C" ynsnaibN Perrtptei G , T : - 1 Punustrt To Ge~? 71.1 _ s~• ~a a tit _ _ _ - _ ! CNek Cf~ CIIMIi at t~ ~ Ace In accordance with the rulings of the Florida Department of Revenue, the Documentar}• Stamp Tax and Intangible Tax should be calculated on s 17900.00 ,the amount financed in this transaction. 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, property, possession and claim whatsoever of Mortgagor to the same in every part and pazcel thereof tmto Mortgagee in fee simple ("Mortgagcd Property"). SUBJECT TO the tollowtng "Permitted Liens": First ItortFage in favor of Fi.r:-.t F~:deral Savings and Lean Association of Fort - - ' Pierce, opened in 1977, with an apprcximate halarce of $27,250.00. i . i PROVIDED ALWAYS. that if Mortgagor shall pay to Mortgages the Note at the times and in the meaner stipulated therein. and is all other insw- menu saying the Note, indudittg renewals, extensions or modifications thereof, and in this Mortgage std in all other instrumeets 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. Mortgagor covenants gad agrees with Mortgages as follow;: 1. CoyWaoe wlth Noltaatl Mortgage; Waraab of Tide. Mortgagor shall comply with all provisions of the Note. this Mortgage and of every other _ instrument securing the Note, and will. promptly pay to Mortgagee the prindpal with interest thereon std all other sums required to be paid by Mortgagor under the Nate gad pursuant to the provisions of this Mortgage and of every other instrtttrteut securing the Note. Mortgagor is indefeasibly seized of the E Mort~ag~d Property in fes simple and Mortgagor bas lawful authority to Convey, mortgage and encumber. the same as provided by this Mortgsge, and ~ does hereby so warrant. 2. payareat of Tasea aced Liens. 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 itdebtedttess secured hereby, except that Permuted Liens may ~ be discharged in aooordartce with their terms. All such payments to be made when due and payable suording to law before they becoate deliquent and before an interest attaches or any penalty is incurred. Insofar as any indebtedness is of raord (except indebtedness giving rise. to Permitted Liens) the same shall be promptly satisfied and evidertce of such satisfsction shall be given to Mortgages. 3. Iwnaa. Mortgagor. shall keep the Mortgaged Property and the improvements now existing or hereafter erected on the Mortgaged Property insured _ u may be. required from time to time by Mortgagee a~inst loss by fire. other hazazds and contingencies in such amounts and for such periods as may be requued by Mortgages. Mortgagor shall pay promptly, when due, any premiums on such insurance. All insurance shall be carried :nth companies approved by Mortgages and .the policy and renewals thereof shall be held by Mortgagee and have attached thereto loss payable clauses in favor and in , r form acceptable to Mortgages. In the event of leas, Mortgagor shall give iromodiate notice by mail to Mortgages and Mortgages may make proof of loss if not made promptly by Mortgagor. Each insurance company concerned is hereby authorized and directed to make payments for such loss directly to Mortgages instead of either to Mortgsgor or Mortgagor and Mortgages jointly. Insurance proceeds or nay part thereof may be applied by Mortgages at its option, after deducting therefrom all its expenses iadtding attorney's tea, either to the reduction of the indebtedness hereby secured or to the restoration or r of the property damaged. Mortgsges is hersby authorized, at its option. to settle and compromise any claims. awards. damages. rights of action ~ attd~procecds. gad any other payment or relief under any insurance policy. In the event of foreclosure of this Mortgage or other transferof tick to the 1 Mortgaged property is extinguisltrnent of the irtdebtodaess secured hereby, all right, tick. and intern! of Mortgagor in and to arty insurance policies then ( in force shall pass to the purchaser or gtantes. Mortgages may at its optan roquirr Mortgagor to deposit with Mortgagee on the lust day of each month. in addition to making payments of prindpal and uuerest, until the Note is fully paid. an amount equal to ooatwd(th (1712) of the yearly prtmituns for all ~ insurance. Stich deposits :half not be. nor be deemed to be, trust funds. but may be commingled with the general funds of Mortgage, and ot? interest shall be yabk in respect tbereot. Upon dtxnartd by Mortgages. Mortgagor shall deliver to Mortgages such sdditiortal mortice as are oeoasary to make up goy deficiencies in the amounts rteoessary to enable Mortgagee to pay such premtnms when due. In the event of default order any of the terms, ooverurtts and conditions 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 sums segued hereby. in such manner as Mortgages shall determine. arty amount under this paragraph remaining to Mortgsgor's credit and goy return premium received from anodlation of any insurance policy by Mortgages upon toredosure of this Mortgage. 4. Caa/easaatla~. If the Mortgagecd Property or any part thereof shall be damaged or taken through eortdemaation (which. term when used herein shall include any damage or taking by nay govenamenW authority or any other authority authorized by the laws of the State of Florida or the United Seta of America to so damage a take, and any transfer by private sale in lieu thereof). tither temporarily of penoartetttly. the entire indebtedness and other sums secured btxeby shall. at the option of Mortgages. becoate immediately due and payable. Mortgages shall be entitled to all compemation awards, damages. daims. rights of stxion and proceeds of, or on account of air damage or taking through coodernnation and is hereby authorized, at its option. to oontmeooe. appear in and prosecute. is its own or Mortgagor's name. any action or proooedirtg relating to any cordernnation. and to settle or compromise air claim io ooaoection therewith. All such compensation awards, damages. claitns, rights of anion and proceeds. and nay other DaY~ts or ~ rend. and the right thereto. are hereby as:i~ed by Mortgagor to Mortgages and Mortgsges after deducting therefrom all its expenses indudittg attorney's ~ toes may «leax goy monies so received by tt without aftectirtg the Itat of this Mortgage or may apply the same. in such manner as Mortgages shall drxer- mice. to the redtrctioo of the sums segued hereby and to any prepayment charge provided rn the Note. the Mortgage or any other itatruaswt sectuirtg the Note. gay balance of stxh monies rhea reroaining shall be paid to Mortgagor. Mortgagor agrees to exewte suds further assigomaus a goy oompatsa- boos. awards, damages, tdaims, rights of sction and proceeds as Mortgagee may require. S. lira N 11Nrtpgetl f r'o/erty shall not remove or demolish goy building or other property forming a part of the Mortgaged Property witbom the written oonstnt of Mortgages. Mottptgor shall not permit, ooatmit, or suffer nay wane. impairment or deterioration of the Mortgaged prop- erty or any part thereof. and sMU keep the same and improvements tbereoo in good condition std repair. Mort ago( shall ntxity Mortgages m writing within five dt~ra of arty damage. or tmpairtnatt of the Mortgaged Property. Mortgages may. at Mortgagees drsaeboa. have the Mortgaged Property inspected u goy time gad Mortgagor shall pay all caters tenured by Mortgagee to executing such inspection. .OR~~ --~It:w~