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DIRECT HOME IMPROVEMENT MORTGAGE 4,9~~15~+p ~ ~ - ~ 3°Z~3L~
WITH FUTURE ADVANCE
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THIS MORTGAGE. made this 25th day of June ~ _ _ , A,p„ 19 $0 ,between'
,jp~ph Lawrence Slav and Lawrence 8. Slay, his son,~8 j9int tenants (Mortgagor) and
with right of survivorship Sun Bank of St. Lucie Co. IMortgageel:
)Name of Sun Bank) ,
WITNESSETH, that Mortgagor, for and in consideration of the prem+ses and in order to secure the payment of the principal and
interest on the note las hereinafter deGnedl, Mortgagor hereby grants, assigns transfers and mortgages to Mortgagee, ns successors and
assigns lorever, the following described real property in St• Lucie County, Fbrda, to wit:
Lots 16 and 17, Block 20 of PINEWOOD SUBDIVISION
as per plat thereof on file in Plat Book 5 at page 24 of
the public records of St. Lucie County, Florida. _ __-r., - ~
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THIS IS A SECOND MORTGAGE , : ti~ ~ ~ ' - }
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REZ;EIYEO s al.7a IN PAYMElR OF TAXES 1980 JUL ' 1 PII 2~ 3 I
~JE Cif CIRSS 'C' INTAt16:BlE PERS~t;aL PROPERTY,
FOi:SuAlii' TO CNATTE2 ::4r ACTS OF 117E
~ V • ~5 606ER pOR~ FILEt i?NC RECOROi 6
CLERK CTRCIpT COWIT, iT. LINE CO., R~~'~ ~ S ROGER
PO
TRAS
Ci.E1tK CIRCUIT C
•fC~ ~'ERtflFR-~ -
491520
(hereinafter referred to as the Mortgaged Property): and the Mortgagor does hereby fully warrant the title to the Mortgaged Property
and wirl deferxf the same aga+nst the lawful cla+rrts of all persons whomsoever-
PROVIDED ALWAYS, that rf Joseph Lawrence and Lawrence E. Slay ,the Makerls) of that
(Insert Namelsl)
certain promissory note dated the date hereof Ithe Hotel, their heirs, legal representat+ves or assigns shall pay to Mortgagee
the principal sum of $ 10~ 860.62 as evidenced by the Note, wuh interest aril upon the terms as provided therein, the final
maturity date of the Note and of this Mortgage being .Tune 1990 19 , wh+ch Note provides that
all installments of principal and interest are payable at the office of Mortgagee, or at wch other place as the holder may designate in
writing, and that each maker and endorser agree to pay all costs of collection, including a reasonable attorney's tee, upon default in the
payment of the Note, and that rf default be made m the payment of any installment thereunder and that if wch default is not made
good in accordance with the terms of the Note, that the enare principal win and accrued, earned interest shall become due and payable
without notice at the option of the hokter thereof; and shall perform and comply with each and every stipulation, agreement and cov-
errant of the Note and of this Mortgage, then th+s Mortgage and the estate hereby created shall be void, rltherw+se the same shall remain
m full force. Maker covenants to pay the interest and principal promptly when due. Mortgagor covenants to pay the taxes and assess-
merits on card property; to carry insurance aga+nst fare on the building on Said land for not less than 5 n~a ,approved
by the Mortgagee, wrth starxlard motgage loss clause payable to Mortgagee, the policy to be held by the Mortgagee aril to keep the
building on card land rn proper reparr-
i Thrs Mortgage shall secure not only ex+stmg rrxiebtedness, but also wch future advances, whether such advances are obligatory or
to be made at the option of Mortgagee, or otherwise, as are made w+thin twenty 1201 years from the date hereof, to the same extent as
of wch future advances were made on the date of the execution of th+s Mortgage, but such secured indebtedness shall not exceed at any
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~ lime the maximum principal arnouni of S n a plus interest, and any disbursements made for the payment
_ of taxes, levies, or insurance, on the Mortgaged Property, with interest on wch disbursements. Any wch future advances, whether
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obligatory or to be made at the option of the Mortgagee, or otherwise, may be made ether prior to or after the due date of the Note or
_ C7 any other notes secured by th+s Mortgage- This Mortgage +s given for the specific purpose of securing any and all rrxfebtectness by fhe
Maker to hTortgagee (but in no event shall the secured indebtedness exceed at any time the maximum pnnupal amount set forth in this
paragraph) in whatever manner this indebtedness may be evidenced or represented, until this Mortgage +s sat+sfied of record. All cove-
- ~ pants and agreements contained in this Mortgage shall be applicable to all further advances made by Mortgagee to Maker under this
! ~ ~ future advance clause.
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~ w' Should any of the above covenants be broken then the Note and all moneys secured herebv shall, without demand, ii the
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Mortgagee, so elect, at once become due anri payable and this mortgage may be foreclosed, aril all costs and expenses of collection and
= r -x' reasonable attorneys' fees, including costs, expenses aril reasonable attorneys' fees on appeal, rf collected by legal proceedings or
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- ~ ~ chrougn an attorney at law, shall be pa+d by the Maker, and the same are hereby secured.
_ •+cq-QI IN WITNESS WHEREOF, the Mortgagor has executed th+s Mortgage as of the date first above set fo+th.
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- $rynrd, sealed arxt de:,vered -
I pregenC
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- EAII
f IMortgagorl
~ Q/~ l~-~ ~C..(iC.~[/ • Q.t-t-K.l-~ _ 1 SE A L 1
- Ihlortgagor) - - t"
STATE OF Florida I
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COUNTY OF St. Lucie I
s 1 HEREEIY CERTI t
,~,f~fff~~Hq};thrs day, before me, an officer du~y authonred rn the grate aforosad and m the County aforesaid
M 'o cake acknow:edgate rsonally agpe~red seseseph 6 Lawrence Slay ro me kncwn to be the person described
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.n and who executed t'he f9r~rng rr?Strulnont and they acknosvlc_~dged t~fore me that _ they executer) the same.
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S WITN~$S fryr harxE and.oif{r~1 sealS~i the Crounty aid State ~ of resa~d this _Z~th day of __•j~np
/.~t4j ° Not v Pubirc NOTARY PUBi.C :TATS Of flC1RI~A AT LARGE
i,{~ ~~G~ A,t ommrssron Ekpir~ Coenni+?SSION EXPIRES oEC 19 1983
~ONDEQ IwW GENERAL INS UPDEAWRITERS
4-6014-000.7 Rev. 8/77 'r
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