HomeMy WebLinkAbout0516 ttlORTOAO[ O[[O RAMCO /ORM R[•
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_ Executed the 1st day o/ July A. D. t9 80 by
GEORGE BILLINGHURST and VALERIE BILLINGHURST, HIS WIFE
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~ hereinafter called the mortgagor, to ~3•
GEORGE R. HOFMANN and LIZZIE M. HOFMANN, HIS WIFE
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hereinafter called the mortgagee: ~ - ' '
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IwfKrc~~er R+ed beniR the terms "wort[aa[~ooir~~ asd "ttartaasee" iRrhede aU the parties to Chit iastrumeRt aRd t?e ?cin,
. ~ kezal npretentativts and assi m of iadividaab, tad 1Me surcearrs aad assisu of rorporatiws: aRd the term "Rote.. t
includes aU the Rotes herein bed it more than ose.)
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_ ~~tn~e~r that for good and valuable considerations, and also to rnnsiderotion o/ the aggre-
_ gate sum named in the promissory note o/ euen date herewith, hereinafter described, the mortgagor here-
, by gronfs, bargains, sells, aliens, remises. conveys and con/firms unto the mortgagee all the certnin land
o/ which the mortgagor is now seized and in possession situate in St. Lucie - County,
• - • Florida, ?~iz:
A. C. DITTMAR'S RESUBDIVISiON, Block 19, the South 1/2 of
Lot 13 and all of Lot 14 and the East 30 feet of Lot 15, and
f the West 40 feet of the North. 66.5 feet of Lot15, and the
North 66.5 feet of Lot 16 less street and road right-of-way
according to the Plat thereof as recorded in Plat Book 1,
• ~ Page 27 of the Public Records of St.Lucie County, Florida.
THIS IS A PURCHASE MONEY SECOND MORTGAGE.
{In the event that the mortgagor defaults in any payment or condition
i 3'~stipulated in any prior mortgages for a period of 15 days or in the
.event of any default in a prior mortgage so as to cause such prior
!mortgage to be accelerated and to become due and payable during the
'~~continuation of this mortgage then the entire sums secured by this
;mortgage shall become due and payable at the option of the Mortgagee.
The mortgagor covenants and agrees to. make all payments and perform
j ball conditions and covenants called for in any prior mortgages now
encumbering the property and in the event of default in any such pay-
ment or payments,conditions,or stipulations the Mortgagee without
waiving the option to foreclosure herein reserves the right to make
such payments,or perform such stipulations,as as to maintain the prio
~ !mortgages and prevent the foreclosure thereof.Any and all such paymen s
~ (paid or expenses incurred on behalf of the Mortgagor together with
..interest thereon from the date of payment at the rate of interest pre
!'scribed in the notes underlying this mortgage shall-be added to the
j~mortgage indebtedness and may be secured by this mortgage.
;This mortgage shall extend to and encumber all rents,issues,profits,
;;proceeds and revenues derived from the mortgaged property but Mortga-
'`gor may receive the same while this mortgage is not in default.
If this mortgage falls-into default,Mortgagee shall be entitled to
the appointment of a receiver to take charge of the mortgaged propert ,
nand the rents,issues,profits,proceeds,and revenues arising therefrom,
(hand hold the same subject to the direction of a court of competent
~~urisdiction,regardless of the solvency of Mortgagor or the adequacy
J Hof the security. - ~ -
~1This mortgage extends to and shall encumber any judgments,awards,
;Idamages,and settlements hereafter rendered or paid and resulting from
= (;condemnation proceedings with respect to the mortgaged property or th
}.taking of the mortgaged property or any part thereof under the power
a~of eminent domain and the rortgacee may require that any sums payable
'r ~'to Mortgagor and arising out of the power of eminent domain with re-
.spect to the property shall be applied to the indebtedness secured
±thereby.
~±This Purchase Money Second Mortgage secures three(3)promissory notes
Hof even date.A Default in the terms of any note shall automatically
l ''.accelerate the terms of the other notes secured hereby.
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BCOKc~4 PAfE 516
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