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HomeMy WebLinkAbout0548 ~ w H}~S MORTGAGE INDENTURE v vv ~ ~ E+ecuted this day of Apri 1 ~~ql , A.O., 19 80, by GILBSRT I. BRINSDSN, unmarried ; Q~~~t~ party o1 the first part Ihereinalta called Mortgagor 1, to ~ ~ i t r CHASE FEDERAL SAVINGS AND LOAN ASSOCIATION a corporation casting under the laws of the United States of America, party of the second part (hertirsstter taped the Association), WITNESSETH, That la divNS good and valuable considtrauons, and to secure 1M paymem of the aggregate sum of money nsttted in the promisWry note of even date Herewith, hereinafter mentioned, together vwth interest thereon and all other sums of money secured hereby as heceinsttp provided, the Mortgagor does grant, bargain, sell, aben, refltise, release, convey and confirm unto the Association, in lee sirrlpk, tM followity described real estate, of which the Mortgagor is now :cued and possessed and in actual possession, situate m the County of St . Lucie State of Florida, legally described as follows (See attached description.) R:"r'~'° s__-lo9.bo_ i,, P.ay~~-~1T Of TAXES 4:.t _ ~ ! % . • C' : ~ ~ . L PRO?ERT1f. 1(i;.Si:1.NT TO ~IL1?T:: , 71- d, ti.:IS i0F lilt. ~ ReGiR P;,ITnAS ~ ~ • a Cl.FRK CtRCUR COURT. ST. tUWE CO. f'L~~•„' TOGETHER with all seructwes and improvements now and hereafter on said land and the lixwres attached thereto, also together with all and sirtgular the tenertien~ nereditamerits. easements, riparian rights and appurtenances thereunto belonging, or in any wife appertaining, and the reins, issues, and profits thereof, and also all the estate, right, tick, interest and all claims and demands whatsoever, as well in law as in equity, of said Mortgagor m and to the same, and awry Dart and Parch thereof, and also all gas ,rid etecrnc hrwres, radiator, heaters, su coriddioning equipment, machinery, boilers, ranges. elevators and motors, bathtubs, sinks, water closets, water basins, pipes. teucea, and other plumbing and heating tixtuiK, mantels, reL igeraurg plans and ice boxes, window xrtens, screen doors, venetian bonds, storm shutters and awnings, which .ire now or may hereafter pcriain to or be used with, rn or ort said perrtises, even though they be detached or detachable, are and shall be deemed to lie fixwres and accessiuns io the freehold and a part of Me realty, and, d the abovedescnbed property is now or shall hereafter be used for comnsercisl purposes, then the furniture and furnishings and env replacements thereof which may be owned by the Mortgagor and which are now or may hereafter be located upon the above described property. TO HAVE AND TO HOLD the same. together with all the estate, right, tick, interest, homestead, down and right of dower, separate estate, posstKSion, claim and ifemarxf whatsoever, in law or inequity, of the said Mortgages in and to the same, and every part thereof, unto the said Astnciation in fee simple. ' The Mortglgur hereby covenants with the Association that the Mortgagor is indefeasibly seized witA the absolute and tee simple tick to said Woperty, and has full power. en~f lawful authority to sea, convey, transfer and mortgage the same. that n shall be lawful at any time hereafter fa the AssOCiatipn to peaceably and quietly enter upon, ~+e.e, hold and enjoy said property, errors every part thereof, that said property is Tree and discharged hom all liens, encumbrances, and claimsot any kind, including taxes and assessments, except the tier Hereof. which is a fast lien On said property, that the Mortgagor wdl make such further assurances to perfect the fee simple title to said property .n me Associeuon as may reasonably be regwred, and that the Mortgagor does hereby fully warrant unto the Association the tale to said property and will delersd same ra:unst the mortyaye claims and demands of all persons whensoever. NOW. THEREFORE, the corddiun of this mortgage is wch that if the Mortgagor shall well and truly pay unto the Associatan, Me iridebterfness rv,denced by that certain promissory note, of even date herewdh, made by the Mortgagor and payable to the Association, in the principal sum ,1 --------FIFTY-FOUR THOUSAND, SIGHT HUNDRED--------------- DOLLARS +S 54, 800.00 1,-together with interes? as therein stated. payable over a term of 348 month:. and shall e,r• corm, cornpty witH aritf al„ste by each and every the stipulations, agreemems, conditions and covenants contained and set forth m this mortgage and m the Dromissay note secured hereby, then this mortyage and the estate hereby created shall cease and be null and void. ` TRANSFER OF THE PROPERTY; ASSUMPTION tf all or any part of the Property or an interest therein is sold or transferred by Mortgagor without Association's prior written consent, excluding (a) tM reatiois of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a purchase money security interest for household appliances, (cl a transfer :,v devise, descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less not containing an ; Vt>tion to purchase, Association may, at Assxiation's option, declare all the sums secured by this Mortgage to be immediately due and payable. Association snarl have :valved such option to accelerate if, prior to the sale or transfer, Association and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Association and that the interest payable on the sums secured by this MOrtgags shall be +t such rate as Association shall request. If Association has waived the option to accelerate provided in this paragraph and it Mortgagor's successor in interest +ras executeu a written assumption agreement accepted in writing by Association, Associa.ion shall release Mortgagor from all obligations under this Mortgage acrd the Note. tf Association exercises such option to accelerate, Assxiation shall mail Mortgagor notice of acceleration. Such notice shall provide s period of not less than 3U days from the date the notice is mailed within which Mortgagor may pay the sums declared due. If Mortgagor tails to pay such sums prior to the expirs- tuin of such period, Association may, without-further notice or demand on Mortgagor, invoke any remedies permitted by paragraph 15 hereof. AND the Mortgagor does hereby covsMnt and agree 1 To pay all and singular ttss principal and interest and other sums of money payable by virtue of said promissory note and this mortgage. or either. promptly on the days respectively the same severally become tfue 2 To pay alt and singular the taxes. assessments. other governrnental levies. liabdmss. obligations and encumbrances of every nature on said described property and the related debt acquisitron each end every when due and payable according to law. before they become delinquent and. it tM same shall not bs promptly paid the Association may at any t+ms. sdher before or after debnquertcy. pay tlts same without waning or aHscbng the option to forscbse. or any right hereunder- and every payment so made shall. bear interest from the date tMrsof at tlis rats of eighteen per cent 11!3961 per annum 3 Tha! the Mortgagor will keep all real and personal property now w Mreaftsr encumbered by the hen of this rrtortgsgs inwred ss may bs required from time to nine by the Association against loss bl' hrs. windstorm and otMr hazards. uwsltros and contingences for such periods and for not Isss than such amounts as f may be rc'gwred by the Association and to pay promptly when due all ptemwms for such insurance. Mortgagor agrees to dehwr renewal or replacement polrc~es of any nature oT replacement csrnficates of insursncs to the Association. at Isast ten (101 days prior to the expiration a anruwrsary data of the existing pohaes The amounts of insurance regwred by the Association shall be minimum amounts for which said insurance shall be written and rt shall be incumbent ~ upon the Mortgagor to maintain such additional insurance as may be necessary to rrieet and comply fully wdh all co-mwwnce regwrsmMts contained in said potrcies to the end that said Mortgagor is riot a co-inwror tMrsurtder. Inwrartcs shall bs written by a company or companies approved or designated by the ~ Association and aN pobues and renewals thereof shall be Mb by the Asstciation. All deuihd designations Dy the Mortgagor which are accepted by tits Assocrauon and all agreements between Mortgagor and Association elating to insurance. now sxisurp or hereafter made. shall bs m whbng and shag bs a part of this mortgage agreement as fully as though set forth verbatim Mrein and shall govern both parties hereto and their sucussors and assigns- No lien upon any j o1 Bard pohues of insurance w upon any refund or return premium wMCh may be payable on tM cancellation or termmsuon iMreot, shall be given to other than i the Association. except by proper endorsement aNued to wch policy and approred by the Association. Each pbligr of insursrtce shah have affixed thereto a { Standard New York Mortgagee Clause without Contribution, malting all loss or losses under such policy payabb to the Association as iu interest may appesr- f In the event any sum or sums of money become payable thereunder, lM Associaton shall haw the option t0 receive arsd apply the same on account of tM in- debtedness hereby secured, or to permit the Mortgagor to receive and ass rt. or any part thereof. without tltsreby waiving or impairing any equity. ben or right under and by virtue of this mortgage In event of loss or physical damage to tM mortgaged property. the Mortgagor shall give irttmediate notice thereof by mail to the Association and the Association may make proof of loss d tM :orrice is not made promptly by the Mortgagor. In went of foreclosure of tMS mortgage. or other transfer of title to the mortgaged property. in extinguishment of tM indebtsdMSS secured hereby. all right. title and interest of tM Mortgagor in and to any insurance polices then m force shalt pass to tlw purchaser or gnntse. The Mortgagor further agrees to abide by the ruNs and eastirtg regulations of the Association. m connection with requxsd insuranq coverage of tIN property 1terNn encumbered- 4 Paragraph 4 srd tlsose which fbllow an contairsed on the reverse side of this mortgage and by reference are incorporated into tM body of this rttortgage. S~ The terms Mortgagor and Assocuuon, whenever used m this instrument, sMll include tM heirs, personal repretentatwes, successors a assigns of the rswectiw parties ! Hereto. Whereon used, the singular number shall include the plural and the plural the singular, and the use of any gender shall include all genders. A! IN WITNESS WHEREOF, these premises haw been executed on the day and year first written. ~Srgned, seat and dNrvered m the Prese~ ot: ~ / _ ~~~7 VT-vY ~ ~ S ~ ~ • ~ G - " _ (SEAL) ~ G BRT I. BRINSDEN ~1 x as,c= (BEAU { (BEAU _ (SEALI i STATE OF ILLINOIS COUNTY OF - ~ sj $ 111I ~J,~ I The loregoirig instrument was acknowledged before me thn~ day of ..nl)rll , 19~ ? st.~1 GILBERT I. BRINSD$N, unmarried ~•;>r~!`~ ~;_~",n~y~)~-~. ~ FLL~~~~`~-1 ~w ~ W 1t70C - ,r My commission expires 4.. ~c ~ i. J Notary Public, StaN os^, , cc~~ry~ 1'r)X c~ PMGE 1J (V ~tlt 8r»K~1 ~.t,E 548 ~~-Pec~rd r