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Home My WebLink About2686 - a X3933 58730A2 kc ~ ~ / r THIS MORTGAGE INDENTURE E xecveo th+s day of Apri 1 , A.o., l9 80 . ny JAMES S. MURPHY III and BARBARA B. DtURPHY, husband and wife p.,rty of the fast part Ihernnalter called Mor tyayorl, Io CHASE FEDERAL SAVINGS AND LOAN ASSOCIATION a corporation e.+sung under the laws of the United States of Anser+ca, party of tree second part (hereinafter called the AssocNUOnI, WITNESSETH, That for dwers good and vatuaWe conutMrauons, and to secure the payment of the aggregate sum of money named m th! vrumrssOry note of even date herewith, herernatter mentioned, together sv+th mterest thereon and all other sums of money secured hereby as herernalter provided, the Mortyagor does grant, tsar gam, sell, al+en, rMyise. reease, convey and conlum unto the Asstsc,ation, m lee simple, the follOwmg detcrrbltl real estate, of which the Mortgagor rs now sewed and possessed and in acwaf possession, snuate m the County of $t . Lucie State of Ftonda, legally descuuerf aS MIIOWs SEE LEGAL DESCRIPTION ATTACHED. N TOGETHER wnh alt structwes and nnprovemenis now antf hereafter on sa+d land and the fixwres anached thereto, also together with au and singular the tenements, '+e,rdnaments, eJientents, riparian nyhts arW af,pwtenances thereunto t}elongrrsg, W in any vise appertaining, and the rents, dstres, and profits thereof, and also alt the estate, r„r,t, title, inter rat Jnd ell claims and demands whatsoever, as well m law x m etluity, of said Mor tgagor m and to the same, end every part anif parch thereof, and also alt gas aria ellClr,c h.tures, ratt+atu+s, heaters, mr condmomng eywpment, machinery, bolas, ranges, elevators and motors, bathtutx, sinks, water closets, watt Aasms, pipes, .+..cets, and other plumbma and heabny lixtves, mantels, relrigeratirty plans end ice (vies, w,ntfow au!lns, serreen doors, venetian bonds, storm shutters and awn+ngs, which ,u a now or may her Batter per tam tour tie used with, m or on said prem+Ses, even thwgh they ire detached or detachable, are and shall ire deemcrf to tie futwes and Jccess+ons ro the Ireehold and a part O1 the +eahy, and. it the Jtwve descnbeif property n now or shall hereafter tit used fOr commerual purposes, Cher. the Iwmtwe and lurmshmys and +nr replacements thereat which may lx• awnetf by the Mur ty:ryor arW whrch are now or may haealter l}e located upon the atwve descntxtf prrypeuy. TO HAVE ANO TO HOLD the same, tu.lether with all the estate, tight, title, mterest, homestead, .;o:.+r arscf right of dower, separate estate, vossess,un, clam end demand whatsoever, +n taw Or u, eywty, of the sJr+f Murtyayur m am} to the same, and every part thereof, unto the said Association rn fee simple. The MunyJyur hereby covemm~s w,th the Assocrat+on that the MwtyJgor is inrkfeasiWy sewed with the absolve and tee srmple tale to seed property, and fix lull pV vier, on.! IJwlul JVIhunly to Sell, u)n~ey, t•JnSf¢r Jntf mV+Igaye t?te stone, the} O shall be lawful at any time hereafter for the Association to peaceably aril quietly enter upon. r, hull muf enruy sled property, Jnd rvr+y VJrt t?irreol. that slid proper ty n free antf dixharged tram all bens, encumbrances, and harms of any kind, includ+ng taxes arxf .+ssr>sments, e.rxpt the lien hereof, wh+ch iT n toss t+¢n On slid paper ly, that the ~10rtyagor will make such further xsuranCCS 10 perfect the tee srmple title to saitf proper ty rhr Asstxiah+.n Js may rrasunJldy hr ir.iwied, Jnd that the Mortgayor dues hereby fully wan ant unto the Association the true to said property and wilt t!e?end same .,,~nst the matyJye dJ:ms Jnd tfrmJnds u? JII persons whomsoever. NOW, THEREFOFE, the canditwn of this mortgage rs wch. that d the Mortgagor shall weu and truly pay unto the Associatron, the indebeet}ness r~. ~ifencMl by thJt cenain pnrm+ssury note, Ot even date herew+t h, made try the Mortgagor and payable to the Assoc+at+an, m the Vr+ncrpal vim --------FORTY-FO~JR THOUSAND, SEVEN HUNDRED FIFTY----O-A-o------- DOLLARS 44,?50.00 ugether with mterest as therem stated, payable ova a term of $48 - momhs, arxf shalt . e'r, ~r m, [amply w,th end ehrde by each Jnd eery the stipulations, JyreMnents, cond,UOns ant) cOVi'nanlS Conta+ed and set forth m This mor tgJgr JnA in t?te V+omnsory note ,e.;,~e,t hereby, then des murt.tJyr end the estate herby creatrt} shat) ~ea:e and tie null anti vonf. TRANSFER OF THE PFiOPERTy: ASSUMPTION ' ~ f all or any part of the Property or an mterest therein is soW or transferred by Mortgagor without Association's prior wntten consent, excluding lal the . reJtiop of a Iran or encumbrance subordinate to Ihrs Mortgage, Ib) the creation of a purchase money security interest for household appliances, Ic) a transfer devise, descent or by operation of law upon the death of a point tenant or (d) the grant of any leasehold interest of three years or less not containing an .~1,trun to purchase, Association rnay, at Assxiation's option, declare all the sums secured by this Mortgage to be immediately due and payable, Association ,hall have waived such option to acccl¢rJte it, prior to the sale or transfer, Association and the person to whom the Property is to b¢ sold or transferred reach _+greem¢n; m writing that the credit of such person +s satisfactory to Association and that the interest payable on the sums secured by this Mortgage shall be such rate as Association shell request. If Association. has waived the option to accelerate provided in this paragraph and d Mortgagor's successor in interest r~e> executed a wntten assu nipti on agrrernent accepted in writing by Association, Assona.on shall release Mortgagor from all obligations under this Mortgage ,r •.c1 the Note, If ASSOCIaL+On exercises such option to accelerate, Association shall mail Mortgagor notice of acceleration, Such notice shall provide a period of not less than i0 nays from ih¢ dare the notice is mailed within which Mortgayo• may pay the sums declared due. If Mortgagor fails tti pay such sums prior to the expire of such period, Assocrauon may. without fu.iher notice or demand on Mortgagor, invoke any remedies permmed by paragraph 15 hereof. AND the Mortgagor does hereby covenant and agree t To pay a9 and singular the pnnupal and mterest and other sums of money payable Dy vutue o1 said prom+ssory note and tins mortgage. or either. promptly on the days respect+vely the same severally become due 2 To pay err and singular Me terries. assessments. other governmental levies. hab+litiss. obt+gauons and encumbrances of every nerve on sad described property ~ and the related debt acqursrt+on each and every when due artd payable according to law. beftxe they become delinquent and. if the same shall not be promptly ~ paA the Association may at any Ume either before or after del+nquency. Fay the same wdhout waving or afiecung the Option to fotecbse. or any right hereunder and every payment SO made shall bear +mterest from the date thereof at the rate of eryhteen per cent 1180 per annum _ a` 3 That }he Mortyagor w+lt keep all real and personal property now p hereafter encumbered by the t+en of tMS mortgage rnsur+ad as may be required from t+:ne to C ti~:,e by the Assoaation against loss by hie windstorm and other haiard5_ casualt+es and conbngenc+es fo: such periods and for rat less than wch amounts as - - ~ may be reVuved by the Asstx+aLOn and t4 pay promptly when due aH premiums for wch mwrance Mortgagor agrees to rfehver renewal or replacement i _r M vu::c.es of any Harare or replacement certificates of insurance to the Association. at least ten 110; days pion to the e><puauon or ann+versary date of the efirsbng M Du4c:es the amounts of insurance regwred by the Association shall be minimum amounts for whrch card insurance shall be written aM d shall be incumbent i n upon the Mortyagor :o ma+ntam such addszonal insurance as may be necessary to meet and comply fully with all co-insurance requvements Contained m card - J, 'a po` pies to the end that card Mortgagor +s not a co-msuror thereunder Insurance shall be wntten by a company or comparnss approved or designated by the Assouation and alt potiaes and renewals thereof shall be held by the Associatron A11 t]etsiled designatrons by the Mortgagor which are accepted by the ~ j O Assoaat:on and au agreements between Mortgagor end Assoc+at+on rslatrrtp to mwrance. now eaistiny or hereafter made. shall be rn writ+ng and shall be a part -0 V` of this murtgaye agreement as fully as though set fo•th verbsum harem and shall govern both parties hereto and rhea successors and assigns No hen upon any _ - - ~ of said vol:c,es of insurance or upon any refund or return premwm wtuch may be payable on the cancellatron or termmat+on thereof. shau pe given to other than I - ~ t3 the Assoc+ation eRCept by proper endorsement aHitied to wch policy and approved by the Associatron Each policy of mwrance shah have aHrti+ld thereto a ` w Standard New York Mortgagee Clause wdhout Contnbubon, making all loss a losses under wch policy payable to the Association as its mterest may appear - _ ~ (n In the event any sum or sums of money become payable thereunder. the Assocrauon shall have the option to receive and apply the same on account of the rn- debtedness hereby secured. or to permd the Mortgagor to receive and use d. or any part thereof. without thereby waning or impatnny any egmty. hen or right _ ~ ~ under and by virtue of this mortgage In event of loss Ot physical damage to the mortgaged property. the Mortgagor shall give rmmsd+ate notice thereof by marl > t1. to the Assocrauon and the Assoc+stron may make proof of bss d the same rs not made promptly by the Mortgagor In event of forsclowre of this mortgage. or other transfer of t+tle to the mortgaged property. in a:ttnyuishmMt of the indebtedness secured hereby. all r+pht. title and mterest o1 the Mortgagor rn and to any rnsurance policies then in force shall pass to the purchaser or grantee The Mortgayor further agrees to abide by the rules and aaisting reputations Oi the Assocrauon +n connection with regwred rnsurance covsraye of the property harem encumbered ~ Parag+aph 4 and those whrch follow errs contented ort tits revertse ads of this rrtortyage and by rslsrence are incorporated into tM body of this morigaya The terms Mortgagee and Associatron, whenever used m Ihrs msvumem, shall include the tseirs, personal representatives, wccessors or assgns of the respective parties hereto. W?ierever-used, the singular numbs shall include the plural and the glory the singular, and the us! of any gender shall include all genders. IN WITN WHEREOF, these premists have been eaecuttd on the day and year above written. Sign arW Bred r tie presence f. L'. ~Z,~' ISEAU t ES MURPHY III 'r ISEAU BARBARA B. MURPHY ISEAU E I 3 ISEALI r t ~~V STATE OF MARYLAND COUNTY Of`sLL"-"-CS, P~'~ ~ -l Tne forego+ng instrument was xknowledgeri before me this-~ day of _~Ur l _ , 1g.Q11 by i~, f L__.~_ J r~biES S . MURPHY III and BARBARA B . MURPHY, husband and wife _ - ~ • 'r'• LIEN R. ( My commiss,on expnes --i 'L - - -~-r- ~ 1 L"'w' r . Notary Public, Sute of MARYLAND ~ ~~^K32~ r~~E2~;84