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HomeMy WebLinkAbout1514 r DIRECT HOME IMPROVEMENT MORTGAGE ~ 3a~~~ WITH FUTURE ADVANCE 492181 THIS MORTGAGE, made this 7th day of Jf11y , A.U., 19 80 ,between' James A. McNeil and Vera A. McNeil, his ~iTife Sun Bank of St. Lucie Co. MMortgagor) and IMortgageel; (Name of Sun Bank) WITNESSETH, that Mortgagor, for and rn considerauon of the premises and m order to secure the payment of the principal and interest on the note las herernaiter definedl, Mortgagor hereby grants, assigns transfers and mortgages to falortgagee, its successors and assigns forever, the following described real property in St. Lucie County, Fbrida, to wit: Lots one (1) and Two(2) of Block one (1) of Cottage Park Subdivision, as recorded in the Public Records in the office of thf~ Clerk of the Circuit Court in and for • Saint Lucie County, Florida. IRIS IS A SECOND MTG. Rip = / 3.7 q1 PAYMENT OF TARE! 3fj DUE ON CLASS 'C' INTAN6:BLE PERSONAL PROPERTY. PUrTSi:ANT `TO CNAPTE7 71-134. ACTS OF tO7l. ¦n R06ER POITRAS ~ JVL ~9 ~ 1~= 13 CLERK CIrZCIpT COURT, ST. LuCE COie lIA.~ ~ - , f A 0~ s chi _ ~wM i 1 1 l~ (hereinafter referred to as the Mortgaged Propertyl: and the Mortgagor does hereby fully warrant the title to the Mortgaged Property t 1 1 and will defend the same against the lawful claims of all pwsons whomsoever. PROVIDED ALWAYS, that if James A. 6r Vera A~ McNeil _ ,the Makerlsl of that r _).~~'f::l (Insert Namelsl) I - ! certain promissory note dated the date hereof (the Notel, tb~~r heirs, legal representatives or azs,gns shall pay to Mortgagee - the principal sum of S b~894.. n9 as evidenced by the Note, wuh interest and upon the terms as provided therein, the final 'i maturity date of the Note and of this Mortgage being Jt]t19 7th 19 87 , which Note provides that - all installments of pnnupal 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 attorn_ey's fee, upon default in the ~ ~ ~ _ payment of the Note, and that if default be made rn the payment of any installment thereunder and that if wch default is not made ~ m ' good m accordance with the terms of the Note, that the entire principal vim and accrued, earned interest shall become due and payable a. 1 _ - ~ without notice at she option of the holder thereof; and shall perform and comply with each and every stipulation, agreement and cov- ~ - • • • • ~ errant of the Note and of this Mortgage, then this Mortgage and the estate hereby created shall be word, otherwise the same shall remain I in full force. Maker covenants to pay the interest and principal promptly when due. Mortgagor covenants to pay the taxes and assess- Z ' merits on card ro art to carr insurance a mst fire on the burWin on card land for not less than $ II 8 a P P V: Y ~ 9 I PProved ~ by the Mortgagee, with standard mortgage loss clause payable to Mortgagee, the policy to be held by the Mortgagee and to keep the - ~ _ : bwld:ng on card land in proper repair. i This Mortgage shall secure not anly existing indebtedness, but also wch future advances, whether wch advances are oblgatory or f to be r~[ade at the optron of Mortgagee, or otherwrse, as are made wrth,n twenty.120) years from the date hereof, to the same extent as li rf wch future advances were made on the date of the execution of this Mortgage, but wch secured indebtedness shall not exceed at any I ~ U ~ time the maximum prvnc,pal amount 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 obligatory or to be made at the optron of the Mortgagee, or otherwrse, may be made either prior to or after the due date of the Note or ~ _ U~ any other notes secured by this Mortgage. Thrs Mortgage is given for the spetiirc purpose of securing any and aII indebtedness by the ' ~ Maker to Mortg;:~ee (but in no event shall the-secured indebtedness exceed at any time the maximum principal amount set forth in this r~ ~ paragraph? in whatever manner this indebtedness may be evidenced or represented, until this Mortgage rs satisfied of record. All cove- j ~ Hants and agreements contained in this Mortgage shall be applicable to all further advances made by Mortgagee to Maker under this • ~I future advance clause. _ i0a to ' ~ wl Should any of the above covenants be brcken then the Note and afl moneys secured hereby shall, without demand, if the D ~ Mortgagee, so elect, at once become due and payable aril this mortgage may be foreclosed, and all costs and expenses of collection and reasonable attorneys' fees, including costs, expenses and reaspnabl¢ attorneys' tees on appeal, rf collected by legal proceedings or _ y ~ through an attorney at law, shall be paid by the Maker, and the same are hereby secured. fr1 ? - ~ IN WITNESS WHEREOF, the t,Aortgagor has executed this M rtgage as of th ate first anove set forth- ti OI C7 Sgned, sealed and de~rvrrecl ~ rn ou r Bence i - ~ / (SEAL) Ih1o gago - a•~ ~ G~/ /L [~W j~ 'C~' ~~.1~_ (SEAL') {Ma•gagor 1 STATE OF Florida St. Lucie 1 COUNTY pF 1 i HEREBY CERTI `xZt~~t~'•eh~Tk~y, before me, an officer du~y author:red in the State afore>a~d and m ;he County aforesaid ~ u ` -^"~y James ~ Vera McNeil ! *o take acknowledgm~ts, persOnal~y,°A~i~id%- to me known to be the person describedf and who executed th'E~for~if~'~i`r""i~~" .they acknowledged before me that -they executed the same. I WITNESS my Aajtd a!R! off5LV1 `sej3r+j„Lh~~i iiirnty and State i fo:esa~d This 7th day of July _ , AO., 19$x_. ~ i ~ „I ~ . b Commrssvin ExM@IsARY Puei.tC STATE OF FLORIDA AT LARGE • MV CCN1iKlSSICIN E~PIiZES DEC 19 19x3 4-6014-00p•7Rev. 8/77 (1~~~ p~GE~~ IOND.[. iFiR~ GENtKAI Iris 1N~iD~RY~Rliii~.o•~, en s~ r~ - - - .